First historical listing for Oiso Town
The former Kinoshita Villa alongside Sagami Bay has been registered as a tangible cultural property. The house has been recognized for its contribution to the historical scenery of the area. This is the first listing for Oiso, and the 157th listing for Kanagawa Prefecture. Read more
Yamagata City to start measuring homes for radiation
Yamagata City will be the first area in Yamagata Prefecture to start measuring the radiation levels of homes. Between 150 and 200 homes will be tested by the city to determine whether decontamination is needed.
If the radiation level at 50 cm above ground exceed 1 microsievert/hr, the city can provide advice to the homeowner and hire decontamination workers. Residents can submit applications to have their home measured, and testing will begin on December 20. The city believes they can visit up to 25 homes per day.Read more
Compact Living in Tokyo
With typically high rents, tiny, cramped apartments are plentiful in Tokyo and there is no shortage of tenants looking for smaller, affordable accommodation. There is a boom in 'one-room', or studio apartments, as more and more young people move closer to Tokyo for work. Limited space has led to some creative designs, and this apartment building in Tsukiji called "CT7165" is no exception.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
Mitsubishi Estate sells Akasaka Park Bldg
On November 15, 2011, Japan Real Estate Investment Corporation purchased Akasaka Park Building and land for 60.8 billion Yen (779 million USD). The seller was Mitsubishi Estate. The building had an appraised value of 62.5 billion Yen in October, 2011.
The buyer believes that the image of Akasaka has improved over the years, particularly with the development of Akasaka Sacas just behind the building, and are expecting diversified demand from tenants into the future.
Akasaka Park Building was completed in 1993. The 30-storey building has a total floor space of approximately 97,317 sqm and a standard floor area of 2033 sqm. The total size of the land under the building is 14,198.20 sqm.Read more