No trespassers on 2nd hole
A partial landholder of the Moriokaminami Golf Club's course in Iwate Prefecture has issued a notice cancelling the lease of their portion of the land and erected a "No Trespassers" sign on the 2nd hole. The owner is a real estate company called SET Support.
The Moriokaminami Golf Club recently entered civil rehabilitation procedures, and the majority of the club members gave approval for corporate restructuring in October 2011. SET Support claim they were not informed of the club meeting last year, despite purchasing part of the course one year prior.Read more
The Mark Minami Azabu sold to Grosvenor
Grosvenor Asia Pacific Limited have purchased expatriate apartment "The Mark Minami Azabu" for an undisclosed sum in January 2012.
The Mark was built on the site of the former training institute of Tokio Marine & Nichido Fire Insurance. The building was completed in August 2008, just prior to the collapse of Lehman Brothers which sent shockwaves throughout the economy and had a serious affect on the market for expat tenants.Read more
West Japan also worried about foreign capital buying up forestry
In February, two men wearing sweaters visited the Uda Forestry Cooperation Uda City, Nara Prefecture. The men said they were managers of an Osaka-based business and spoke with the Co-op chairman for about 30 minutes. The chairman did not take long to determine that they were only after land with a water source and told them in no uncertain terms that he had no sellers for them. The two men promptly left.
Uda City has 18,330 hectares of forest. It is the source of the drainage system for Osaka's Yodogawa River and the majority of the forest has restrictions over timber felling. The chairman said that although there are members of the co-op who want to let go of their land, he worries that troubles may arise if forestry falls into the hands of foreign capital.Read more
Dai-ichi Life Insurance sells head office in Oi Town
The Dai-ichi Life Insurance Company sold their head office building in Oi Town, Kanagawa, to coffee and tea mail-order company Brooks Holdings for 2 billion Yen (25 million USD) this month.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