Okachi Co., Ltd. Acquires Hotel Development Site in Central Miyazaki City

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

The property is a prime site previously owned by Miyazaki Yamakataya, 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. 15,850 sq. ft.). At the time of acquisition, the building had no tenants, while the parking area was operating as a Mitsui Repark facility.

Okachi Co., Ltd. acquires hotel development sites and formulates project plans in tourist cities across Japan, pursuing a business model that anticipates eventual sales to developers and development funds. This acquisition was made as part of that strategy. The company determined the site to be a competitive development opportunity because tourism demand in Miyazaki City is rising and the property is located in the heart of the city center. It also views the area as offering a favorable balance between ADR and development costs, citing the sound financial condition of major local general contractors and construction costs that have not escalated as sharply as in other regions. Following the acquisition, the company plans to spend about six months advancing project planning and obtaining permits and approvals.

Key Facts

• Property Name:

  Miyazaki City Tachibanadori-Higashi 4-6 Land

• Buyer:

  Okachi Co., Ltd.

• Seller:

  YAMAKATAYA Co., Ltd.

• Transaction Price:

  Undisclosed

• Location:

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

• Access:

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

• Completion:

  November 1979

• Number of Floors:

  7F

• Gross Floor Area:

  Approximately 446 tsubo (approx. 15,850 sq. ft.)