Archive For The “Foreclosed Properties” Category

Ehime ‘Castle’ up for public auction

Ehime ‘Castle’ up for public auction

A 5-storey ‘castle’ in the outskirts of Matsuyama City, Ehime Prefecture, is up for public auction this month with a minimum bid set at 39,240,000 Yen (approx. 370,000 USD). The property is a run-down former love hotel designed to resemble a traditional Japanese castle. The 2,600 sqm (27,800 sq.ft) hotel was built in the 1980s,…

Nara Dreamland sold to Osaka real estate company

Nara Dreamland sold to Osaka real estate company

Nara Dreamland, the long-since closed amusement park modelled after California’s Disneyland, was purchased by an Osaka-based real estate company earlier this month for 730 million Yen (5.95 million USD). The buyer, SK Housing, was the only bidder at the public auction. It is unclear what the new owner plans to do with the site.

Nara Dreamland up for public auction for second time

Nara Dreamland up for public auction for second time

Nara City is putting the foreclosed ‘Nara Dreamland’ amusement park up for sale for a second time. The minimum price is again set at 730 million Yen, and bidding is open for 20 minutes on November 10, 2015. The park was first put up for auction in November 2014 with the same minimum price. No…

Former Arai Mountain & Spa Resort in Niigata sold at second public auction

Former Arai Mountain & Spa Resort in Niigata sold at second public auction

A Tokyo-based company established just a month ago with capital of 50,000 Yen was the winning bidder for the former Arai Mountain & Spa Resort in Niigata Prefecture. The overgrown hotel was put up for public auction in early June with a minimum bid set at 884 million Yen. Three companies submitted offers, with “Hotel…

Abandoned ski resort in Niigata sold for 1.3 billion Yen

Abandoned ski resort in Niigata sold for 1.3 billion Yen

The overgrown and abandoned former Arai Mountain & Spa Resort in Niigata Prefecture has been purchased by Tokyo-based A. C Holdings for 1.3 billion Yen. The company, which is involved in construction and golf course development, plans to re-open the ski resort and target wealthy tourists from China and across Asia. The Arai Resort was…

No bidders for Nara Dreamland

No bidders for Nara Dreamland

The foreclosed Nara Dreamland amusement park in Nara City failed to attract a single bid when it was put up for public auction on November 11. The 297,000 sqm site was listed for sale with a minimum price of 730 million Yen (6.3 million USD). Although ten inquiries were received, no bids were made. Too…

Nara Dreamland for sale for 730 million Yen

Nara Dreamland for sale for 730 million Yen

On September 25, Nara City announced that they are putting the long-since closed Nara Dreamland site up for sale with an estimated price of 730 million Yen. Bids will be opened on November 11 with final payment due on November 18. The sale includes 297,519 sqm of land with 75 buildings including a hotel, training…

[Foreclosed] House in Chiba’s ‘Beverly Hills’

[Foreclosed] House in Chiba’s ‘Beverly Hills’

A 4-bedroom house in One Hundred Hills (Chiba Prefecture’s version of Beverly Hills) has been foreclosed on and will go up for public auction in May. The minimum bid is set at 51,656,000 Yen. *Update: The winning bid was 65,126,000 Yen. Three bids were submitted and the winner was a corporate buyer. One Hundred Hills…

[Foreclosed] 1898 Ijinkan in Kitanocho, Kobe

[Foreclosed] 1898 Ijinkan in Kitanocho, Kobe

*Update: The property was withdrawn from the auction. This can occur when the creditor/s are either paid the outstanding debt or reach an agreement with the borrower.  The former Moore residence in Kobe’s historic Kitanocho district will go up for public auction this month with bidding starting from 45.6 million Yen (442,000 USD).  The 2-storey…

Nara Dreamland foreclosed

Nara Dreamland foreclosed

Before Tokyo Disneyland there was Nara Dreamland – a Disney-themed park in Nara Prefecture that closed in 2006 and has since become a popular spot for urban explorers. Due to unpaid property taxes, Nara City is planning to put the property up for public auction soon.  Nara Dreamland was opened in 1961 by Nihon Dream…

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