Kyoto hotel sells for US$42 million
Ichigo Hotel REIT has sold Hotel Vista Premio Kyoto to an undisclosed domestic buyer for 4.5 billion Yen (approx. 42 million USD). The 6-story, 84-room hotel has a total floor area of 3,867 sqm and was built in 2008.
Yanaka’s proposed building height allowances could lead to blandification
Taito Ward officials are considering relaxing building height limits in the historic temple district of Yanaka in Tokyo.
Local residents, concerned that this could harm the charming character of the low-rise neighborhood, are petitioning the local council to reconsider the idea.
Central Tokyo apartment transactions up 35% in August
According to REINS, a total of 2,584 second-hand apartments were reported to have sold across greater Tokyo in August, up 12.2% from last year. The average sale price was 34,610,000 Yen, up 4.3% from last year. The average price per square meter was 538,800 Yen, up 3.4% from last year and the 7th month in a row to see a year-on-year increase.
Multi-block redevelopment for Uchisaiwaicho
Three developers will soon embark on what is said to be the biggest post-Olympic redevelopment project in Tokyo. The redevelopment district includes the Imperial Hotel, NTT Hibiya Building, Mizuho Bank Uchisaiwaicho Building, and TEPCO Head Office Building.
Ninja house in Aomori looking for buyer
The owner of an Edo-era ninja house in Hirosaki City, Aomori, is looking to sell their traditional home. Ideally, the owner would like to find a buyer who wants to preserve the historic home. If not, they may have to demolish it due to the high cost of maintenance.
Yokohama's modernist City Hall to be converted into hotel
A leading example of modernist architecture in downtown Yokohama will be preserved and incorporated into a large-scale office and hotel project.