Okachi Corporation Acquires Hotel Development Site in Central Miyazaki City

In January 2026, Okachi Corporation acquired land and a building in Tachibanadori Higashi 4-chome, Miyazaki City. The acquisition price was not disclosed. The transaction was funded with the company’s own capital.

The property is a prime site formerly owned by Miyazaki Yamakataya and is located a 10-minute walk from Miyazaki Station on the JR Nippo Main Line. The existing building is a seven-story steel-frame structure completed in November 1979, with a gross floor area of approximately 446 tsubo (approx. 15,852 sq. ft.). At the time of acquisition, the building had no tenants, while the parking area was operating as a Mitsui Repark facility.

The company acquires hotel sites and formulates development plans in tourism-driven cities across Japan, pursuing a business model that contemplates sales to developers and development funds. This acquisition was made as part of that strategy. Tourism demand in Miyazaki City has been increasing, and the company determined that the site would be a competitive development parcel given its location in the heart of the city. In addition, the company views the area as offering a balanced relationship between ADR and development costs, as the financial position of major local general contractors is sound and construction costs have not escalated as sharply as in other regions. Following the acquisition, the company plans to spend about six months advancing project planning and securing permits and approvals.

Key Facts

• Property Name:

  Miyazaki City Tachibanadori Higashi 4-6 Land

• Buyer:

  Okachi Corporation Co., Ltd.

• Seller:

  Yamakataya Co., Ltd.

• Transaction Price:

  Undisclosed

• Location:

  6-21 Tachibanadori Higashi 4-chome, Miyazaki, Miyazaki Prefecture

• Nearest Station:

  10-minute walk from Miyazaki Station on the JR Nippo Main Line

• Completion:

  November 1979

• Number of Floors:

  7F / B0

• Gross Floor Area:

  Approximately 446 tsubo (approx. 15,852 sq. ft.)