Kepco demolishing old head office in Osaka
The Kansai Electric Power Company (KEPCO) announced that they will be demolishing and rebuilding their former head office in Osaka from April 2012. Completion of the new building is scheduled for April, 2014.Read more
Shiba Park Hotel to demolish north building
Shiba Park Hotel will be demolishing the main north building. Demolition work is being carried out by Ando Corporation and is expected to be completed by the end of June 2012.
The north building is 8 stories and has a total floorspace of 2891 sqm. The hotel was opened in 1949 and has 391 rooms.
Source: The Kentsu Shimbun, February 20, 2012.
Kobe Airport land not selling
Blocks of commercial land on the man-made Kobe Airport Island are not selling as well as expected. In 2011, not a single parcel of land was sold.
Construction of the island was financed through the issuance of municipal bonds, and the city planned to repay the bonds by selling off blocks of land to various enterprises.Read more
Bad news for Tokyo slumlords
As concerns grow over the number of aging vacant houses that pose a risk to the surrounding neighborhood, local wards and cities have begun to introduce regulations that will pressure owners into either repairing or demolishing their derelict properties.
-- Assistance of up to 1 million Yen --
Tokyo's Adachi-ku is densely crowded with wooden-frame houses and small workshops. Much of the area is considered to have a high fire hazard. Adachi-ku was the first ward in Tokyo to enact rules that obligate owners of dilapidated houses to either repair or demolish them. In the event of demolition, the ward will provide up to 1 million Yen (12,000 USD) in aid. Already, two buildings have been demolished under this new rule.Read more
Town in Fukushima demands 19.2 billion Yen in compensation for lost real estate
The town of Futaba, which fell within the exclusion zone around the Fukushima nuclear plant, is demanding 19.2 billion Yen (234 million USD) in compensation from TEPCO for the loss of use of the town's real estate.
The town is claiming damages for loss of use to town-owned land, government buildings and schools. There are a total of 51 unusable buildings that were mentioned in the claim. A representative from TEPCO said this was the first time they received a real estate related claim from a town or city.Read more