Singaporean investment fund buys hotel in Okinawa
Singaporean investment fund RECAP (Real Estate Capital Asia Partners) has purchased the CSK Tsubogawa Hotel in Naha City, Okinawa, for an undisclosed sum.
The business hotel was scheduled to open in 2009 but the former owner, CSK Holdings, fell into financial difficulties. Although construction was complete, the hotel never opened. The former owner also built an office building on the adjoining site in 2009, which also remains empty.Read more
Brick warehouse in Gunma at risk of demolition
A 90 year old red-brick warehouse built during the Taisho period in Ora Town, Gunma, is at risk of being demolished in the near future.
The building was once used in the production of "nakanogasuri" - a style of cloth-weaving dyed with wooden patterns, and is now owned by the JA Oura Tatebayashi Agricultural Cooperative (JA). The warehouse suffered structural damage during the Tohoku earthquake and the owner has expressed intent to demolish the structure.Read more
Tepco finds buyer for Suginami sports ground
Suginami-ku announced plans to purchase a 4.3 hectare sports ground in Shimotakaido 2 Chome from troubled Tepco. The Tokyo ward has included the 6 billion Yen acquisition cost in their 2012 budget.
The sports ground includes tennis courts, a baseball field and a running track. Tepco had previously leased the grounds to the ward for local residents to use.Read more
La Tour Shinjuku Grand
Average price: 1,183,000 Yen/sqm
Size range: 38.98 ~ 194.98 sqm (419 ~ 2098 sqft)
Average rent: 4990 Yen/sqm/month
Estimated Yield: 5.06% pa
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La Tour Shinjuku Grand is the latest addition to Sumitomo's La Tour Series of rental apartments. The special feature for this property is high ceilings. The ceiling height in each apartment is 3.7 meters, which is far higher than the standard 2.4m ceilings found in most Japanese apartments. The high ceilings are not wasted as some apartments come with lofts to maximize the usable space. The building is not big on amenities as it only has the standard concierge service and gym (no swimming pool). Residents also have free internet access.Read more
Former British Embassy Villa in Nikko to be open to public
Tochigi Prefecture is making plans to restore and open up the former villa of the British Embassy on Lake Chuzenji to the public as a way to promote tourism in the Nikko area.
The prefecture has allocated 6 million Yen in their 2012 budget to start work on analyzing the foundations and earthquake-resistance of the villa. After carrying out any necessary repairs, the villa is scheduled to be open to the public from 2014.Read more
Any buyers? Minato Mirai's deficit difficulties lead to last minute sales tactics
Commission for anyone who can sell the remaining land in Minato Mirai.
Minato Mirai 21 (MM) is a 186 hectare waterfront business district in Yokohama, and is home to the Yokohama Landmark Tower. The land reclamation (40% of the area) and urban renewal project began in 1983, but there are still some large parcels of undeveloped land that the city is desperately trying to sell.Read more