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British Embassy in Tokyo to sell part of land to Mitsubishi Estate

Luxury condos among plans for redevelopment project near Imperial Palace

The British Embassy in Tokyo sits on the site of a former estate of a daimyo, or feudal lord. (Photo courtesy of British Embassy in Japan)

TOKYO -- Japanese property developer Mitsubishi Estate has won negotiating rights to buy land from the British Embassy in Tokyo, potentially as part of plans to build luxury condominiums.

The two sides have entered negotiations after a round of bidding that started with about five major real estate companies. At stake is a portion of roughly 28,000 sq. meters held by the embassy in central Tokyo's Chiyoda ward, a stone's throw from the Imperial Palace.

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