Agricultural Land in Tokushima City with Complex Legal and Physical Considerations

This property is a 3,100 square meter plot of agricultural land designated for lotus root cultivation, located in Tokushima City, Tokushima Prefecture. The land is situated within an Urbanization Control Area, which imposes significant restrictions on conversion and development. A critical aspect of this listing is the current occupancy status. The land is occupied by a tenant whose lease agreement lacks the required permission under the Agricultural Land Act. Furthermore, a portion of the land is occupied by a debtor company using it for an advertising sign, which is claimed under a right of use (usufruct).

Physically, the property includes an unpermitted slab bridge constructed over a waterway. The prospective buyer would be responsible for obtaining the necessary permits and bearing the associated costs for this structure. The land is also located within both flood and storm surge inundation risk zones, with an elevation of -0.2 meters, indicating a very high flood risk. There is also a noted discrepancy regarding the payment period of the rent as perceived by the occupant.

The legal situation is complex. While the tenant's lease right may not be enforceable against a new buyer due to the lack of Agricultural Land Act permission, legal procedures would still be required to secure vacant possession. The usufruct right held by the debtor company for the sign area also needs to be addressed. This property is currently up for judicial auction with a base price of 3,130,000 yen. The auction is ongoing, with a closing date of June 10, 2026. A deposit of 630,000 yen is required to participate, and the minimum purchase price is set at 2,500,000 yen.