For sale of facilities including the Tokyo mansion of King Yeongchin of the Korean Empire... "The sale is likely to exceed 3.6 trillion won."

Tokyo Garden Terrace Kiioicho homepage

The Akasaka mansion in Tokyo, Japan, where King Yeongchin and his wife, the last crown prince of the Korean Empire, have lived for more than 20 years, has been for sale.

According to a report by the Nihon Keizai Shimbun (Nikkei) on the 20th, Japan's Seibu Holdings has decided to give priority negotiation rights to Blackstone, the world's largest private equity fund operator, over the sale of its complex "Tokyo Garden Terrace Kiioicho" including the Akasaka Yeongchin mansion in Tokyo. The sale is expected to exceed 400 billion yen (about 3.6 trillion won).

The Tokyo Garden Terrace Kioyicho redeveloped the site of the former Akasaka Prince Hotel and opened in July 2016. It consists of facilities such as the "Old Yiwanga Tokyo Mansion," a tangible cultural property in Tokyo, the "Kioi Tower," a 36-story building with offices and hotels, and the "Kioi Residence," a 21-story building.

Among them, the former Yiwanga mansion is known to have been inhabited by King Yeongchin and his wife for more than 20 years since March 1930. Seibu purchased the building and used it as a hotel for a while, and has since undergone renovation and used it as a restaurant and banquet hall.

Seibu Holdings, a Seibu Railway holding company, made real estate a key area of growth in May this year.

In this regard, in addition to the existing business method of securing rental income from owned real estate, the government will also consider adding value to real estate and developing new real estate with the funds obtained from it.

Seibu has been pushing to sign a contract to sell Tokyo Garden Terrace Kiioicho within this year, Nikkei said.

Reporter Lee Yu Na from Digital News Team.