Accordia Golf announced plans to sell the majority of their golf courses in Japan to a Singaporean-based fund for approximately 100 billion Yen (980 million USD).
After the sale, Accordia will continue to manage the courses for a fee.
Golf courses converted to solar farms across Japan
The Japanese government introduced a system whereby electric utility operators are obligated to purchase electricity produced by solar farms, and other renewable sources, at fixed prices. The system started from July 1, 2012. In order to benefit from the program, suppliers must obtain approval by the Ministry of Economy, Trade and Industry (METI).
Under the feed-in tariff (FIT), utilities will enter into 20-year terms to from solar power suppliers. The purchase price of solar power is expected to be set at 42 Yen per kilowatt-hour.
No trespassers on 2nd hole
A partial landholder of the Moriokaminami Golf Club’s course in Iwate Prefecture has issued a notice cancelling the lease of their portion of the land and erected a “No Trespassers” sign on the 2nd hole. The owner is a real estate company called SET Support.
The Moriokaminami Golf Club recently entered civil rehabilitation procedures, and the majority of the club members gave approval for corporate restructuring in October 2011. SET Support claim they were not informed of the club meeting last year, despite purchasing part of the course one year prior.
7 Fukushima Golf Courses sue TEPCO for lost revenue
On November 30, 2011, seven of the forty golf clubs that form the Fukushima Prefectural Golf Association filed a claim against TEPCO for damages arising from loss of income.
The clubs have reported a total loss in revenue of 247 million Yen (3.16 million Yen) between March and August, 2011, which they say was directly attributed to the radiation fears from the troubled nuclear power plant.
[Foreclosed] Sunny Hill Golf Course @ 140 Yen/sqm
Court Evaluated Price: 45,052,400 JPY
This unfinished golf course spread over 32 hectares in Tochigi Prefecture is under foreclosure. The site is less than a 2 hr drive from the center of Tokyo.
Gunma Golf Course For Sale
Price: 150,000,000 JPY
Size: 664,690 sqm
SOLD
A par-72, 18 hole hillside golf course is for sale in Gunma Prefecture. The property is spread over 66 hectares and is a 2 hr drive west of Tokyo.
The grounds include a 4-storey clubhouse / hotel with an interior size of 5697sqm (61,300 sqft) and 37 rooms that can accommodate 150 guests. The golf club officially closed down in 2007 and has not been maintained since then.