IZUMIKYO Company has sold a premium 800 tsubo (2662sqm) block of land in Izumikyo 2 that it has held since it developed the area in the late 80s.
President Yoshio Nishimura held on to the land for more than 20 years because he had always envisioned he would build his own home on it someday.
Izumikyo client advisor Chris Lane, who brokered the deal along with Ruskin McLennan of Niseko Property, said it was a sentimental sale for Nishimura-san.
“It was a flat site set high on a hill offering unobstructed views of Mt Yotei – it was his favourite block in the entire sub-division,” Chris said.
It’s the highest per tsubo price for raw land in Izumikyo 2 the company had ever sold, even before the recent downturn, which prompted Nishimura-san to part reluctantly with the asset.
It is understood a Chinese buyer will build two luxury homes on the block, with construction commencing in Spring 2010.
There is only one block remaining in Izumikyo that hasn’t been sold from the original sub-division, and it too is now on the market.