Chongryon Headquarters purchased by religious organisation
*Update: Chief Priest Ekan Ikeguchi of Buddhist temple Saifukuji announced at a press conference on May 10 that he can no longer purchase the building as the temple was unable to obtain financing. As a result, he will lose his 500 million Yen deposit and be banned from bidding on the building when it goes up for auction again this summer.*
A Kagoshima-based religious organisation made the highest bid to purchase the Chongryon Headquarters / North Korean Embassy in Tokyo's Chiyoda-ku. Saifukuji - a part of the Shingon Buddhism sect - bid 4.519 billion Yen (48 million USD) for the property.Read more
Former Jonas Residence in Kobe facing possible demolition
The Jonas Residence in Shioya-cho, Tarumi-ku, Kobe, may soon be demolished and replaced with a 10-storey apartment building.
The 2-storey waterfront residence was built in 1919 for British trader Frederick/Frank Maurice Jonas. It was later sold to Mr. Sakunosuke Yamada, a lawyer for Kawasaki Heavy Industries.Read more
Fire damages two apartments in Akasaka
Fire broke out early Sunday morning in a studio apartment on the 8th floor of the Shuwa Akasaka Residential Hotel near Tokyo Midtown. The fire spread to the apartment upstairs, damaging a total area of 40 sqm. 40 firetrucks attended to the scene and it took four hours to extinguish the flames.Read more
A look inside the foreclosed Chongryon headquarters
The headquarters of the Chongryon and de facto embassy of North Korea in central Tokyo were seized by the Supreme Court in 2012 over unpaid debts. The 10-storey building and 2390 sqm block of land are up for public auction this month with bids open from March 12 to March 19.
The court evaluation is approximately 2.66 billion Yen (28 million USD), which is not even close to the 62.7 billion Yen debt owed by Chongryon to the Resolution and Collection Corporation. Despite the prime location, the court evaluation is considered to be relatively low. This is partly attributed to the building's ties with North Korea which may turn off a few investors.Read more