Luxury hotelier to pay 1.5 billion Yen for historic site in Kyoto

The operator of a luxury, boutique hotel in Hakone has been selected as the successful bidder for a historically significant site in Kyoto City.

Gora Kadan’s proposal is for a 32-room hotel with an outdoor rotenburo bath, pool, gym, spa, and large onsen baths. The two historic settling ponds will be preserved and used as the hotel’s reception and pool. Gora Kadan’s bid was 1.5 billion Yen (approx. US$13.6 million) for the 11,000 sqm of hillside land. The city set the minimum acceptable bid at 360 million Yen.

The site is the former Kujoyama Water Filtration Plant. It is zoned as a Category II Residential Zone with a maximum floor area ratio of 200% and a coverage ratio of 60%. It also lies within a Category II Scenic District. Building height limits are 10 meters. 

It is currently owned by Kyoto City. Public bidding details were announced in December 2020 with the bidding period held in mid-May 2021. The city is scheduled to sign a sale agreement with Gora Kadan in October. The terms of the sale agreement prohibit the buyer from reselling the property for a period of 10 years.

Location

Hinookaissaikyodanicho, Yamashina Ward, Kyoto City

Source: Kyoto City Waterworks and Sewerage Bureau, August 19, 2021.

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