Kyuden to Sell Off Properties
Mired in red ink since its nuclear reactors were stopped, Kyushu Electric Power Company has entered the final phases of negotiations to sell its Jonan Club, a facility for entertaining clients, and the adjacent Sakurazaka Employee Training Center (both located in Chuo Ward) Tokyo-based realtor Mitsubishi Estate Co. The sale price for the 12,800 m2 of property is estimated at around ￥3 billion. According to sources, the properties went on the block earlier this month and Mitsubishi Estate won the bid. They plan to demolish the existing buildings and develop apartment buildings, an endeavor in which Fukuoka’s own Nishitetsu may get involved. Source: Nishinippon Shimbun 9/13
