NEWS
Photo: Aaron Jamieson
Positioned at the foot of Niseko’s most famous ski run, Hotel Niseko Alpen occupies the bluest of bluechip real estate in Niseko.
The land is currently owned by the local town council and leased to Tokyu Land Corporation (TLC) – the owner of Niseko’s main resort, Grand Hirafu.
The Hokkaido Shinbun reports that TLC has made an offer to buy the 8,800sqm block, with plans to significantly refurbish or rebuild the hotel.
HS reported the property was valued at JP¥2.8 billion (US$20.8 million) at its most recent valuation (timing not known) but that it was expected to fetch a higher price now due to increases in land values.
At JPY 2.8 billion the per square metre price would be USD 2,336/sqm (JP¥1.07 million/tsubo).
Jess Ripper from Niseko Real Estate says recent Upper Hirafu ski-in/ski-out land sales have been transacted in excess of US$4500/sqm (JP¥2 million/tsubo).
An off-the-plan penthouse sale in Matie Niseko last year is believed to have achieved approx US$ 27,000psm / 2,500psf – the highest achieved in Niseko for off-plan-apartment sales, and approaching equivalent prices of high-end apartments in Tokyo.
HS reports negotiations may be finalised by the end of the year.
The onsen (hot spring) hotel enjoys enviable north-facing day and night views up the Alpen runs and across Onsenzawa to Ni-Kabe course, which are spectacularly illuminated by night ski lights in the evenings.
To the south it looks towards the iconic Mt Yotei.
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