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.
At the end of March, Jones Lang Lasalle (JLL) will close their Hokkaido branch. Also, CBRE and the Sumitomo Life Insurance Company will no longer have representatives stationed in Hokkaido. Sumisei Building Management, a subsidiary of Sumitomo Life Insurance, is also closing their office in March as part of cost cutting measures. Sanko Estate currently has one staff member stationed in Hokkaido but all duties will be transferred to Tokyo from spring.Read more
Niseko Kogen Hotel sold
Niseko Kogen Kanko, a subsidiary of Tokyu Land, announced that they will be selling the Niseko Kogen Hotel to an undisclosed buyer for just over 1 billion Yen. The buyer is said to be a fund based in Asia.
The Niseko Kogen Hotel will remain open until March, 2012, at which time the new buyer will take over the property. The hotel is aging, so it is expected that the new buyer will demolish and rebuild a high class international hotel on the site. The current 59 room, 4-storey hotel was built in 1975, and room rates start from 7,000 Yen/night (90 USD). In recent years, construction of new condominiums in the area have had a negative impact on the hotel's profitability. Read more
Japanese hotels being sold off due to lack of tourists
The effects of the March 11 Tohoku disaster have had wide-reaching consequences with hotels as far away as Hokkaido being forced to close their doors and sell due to a faltering tourism industry.Read more
Sweden Hills, Hokkaido
Planning of the Sweden Hills neighborhood began in 1979 and construction started in 1984. The idea began after the Swedish Ambassador visited Tobetsu Town and remarked how similar the atmosphere and scenery was to his native Sweden. Tobetsu Town's sister city is Leksand in Dalarna County, Sweden.Read more
[Foreclosed] Historic Hotel in Hakodate
Court Evaluated Price: 39,600,000 Yen (483,000 USD)
*Update: The winning bid was 43,695,000 Yen*
A historically listed hotel in Hokkaido’s Hakodate City is up for public auction.
“Auberge Kokian” was built in 1909 in the Wayo-Secchu style of architecture (a blend of Japanese and Western) and constructed from Japanese cypress. It was originally a seafood store called Watanabe Shoten. It was in operation as a restaurant and inn until the end of 2009.Read more
Niseko Hinode Hill - Resort Condominiums
Malaysian resort developer and operator, YTL Hotels & Properties, have announced plans for a new 125 unit resort in Niseko's Higashiyama Ski area. Construction of "Hinode Hill" is scheduled to start in June, 2011 with completion expected in December, 2013.