New buyer found for Yubari Melon Castle
"Melon Castle", a liquor distilling facility in Yubari City, Sapporo, will be sold to a wholesale/retail company called Base Create. The facilities will be used to package and store goods.
Yubari City had previously agreed to sell the facilities to another buyer, but the sale was canceled in March as the buyer did not make payment. In April, the property was advertised for sale at a reduced starting price of 28,800,000 Yen (360,000 USD). Base Create was the only applicant, and based on their financials and business plan, their offer of 28,900,000 Yen was accepted. The new buyer plans to hire several local residents to help run the facilities.Read more
Recent survey on foreign ownership of forestry in Japan
A survey by the Yomiuri Shimbun has found that foreigners hold as much as 1103 hectares (11.03 million sqm) of forestry in Japan. This number, however, is thought to represent just the tip of the iceberg as there are many cases of foreigners buying land and registering it in the name of a Japanese citizen or local company.
The survey was conducted between the end of March and the middle of April. The local governments across Japan's 47 administrative regions were asked to provide information on the number of transactions, purchase price and total area. Under the National Land Utilization Law, any transactions of land over 1 hectare must be reported to the local government. The aim of this survey was to find out all other non-reported transactions.Read more
Foreign buyers pipped at the post on land purchases in Hokkaido
Hokkaido Prefecture will be introducing support measures that will provide funding to local cities, towns and villages so that they may purchase tracts of land that foreign investors are planning to buy.
The measures are being introduced in response to growing concern over acquisition of forestry and water sources by foreign investors with unclear motives.Read more
Resort development activity picking up in Hokkaido
Resort development activity is starting to accelerate in Hokkaido as the region begins to see a rebound in foreign tourist numbers.
Construction is scheduled to start on a large-scale resort in the Uenae area in Tomakomai City this June. The 1000 hectare site will include a hotel, horse-riding and trekking facilities. Aman Resorts Group's GHM (Singapore) are tentatively scheduled to be the hotel operator. The development is being designed by famed Japanese architect Tadao Ando and will be completed in 2014. They are targeting wealthy foreign tourists. The total investment is estimated at 13 billion Yen (158 million USD).
*Update: Aman's 'Chedi' brand of hotels is scheduled to operate the hotel. "The Chedi Tomakomai" is now scheduled to open in 2017.
*Update 2: Mori Trust acquired the site in 2016 and will start construction on a resort in 2017 with completion expected in 2026.Read more
[Foreclosed] Japanese Castle in Hokkaido
*NO LONGER AVAILABLE*
Bidding started from 16,663,000 Yen
This foreclosed property in Akabira City is a replica of a traditional Japanese castle. The 6-storey reinforced concrete structure was originally called 'Tokugawa Castle" and was a doll museum. It was owned by the only festival doll manufacturer and supplier in Hokkaido, and the company used the space to display and sell their wares. The doll company still seems to be operating, but they have not used this building for the past five years. It has not been maintained during recent years and has some broken windows and roof damage.Read more
PM companies leaving Hokkaido amid Sapporo office market slump
Several real estate property management companies have begun to close down their offices in Sapporo, Hokkaido, as the local commercial market continues to decline.Read more