Hongdae Mixed-use Complex

Hongdae Mixed-Use Commercial Complex (the "Property") is prominently located in the bustling neighbourhood of Hongdae, one of Seoul's top three core commercial districts. With a total GFA of 17,058m² (5,160 pyeong), the Property boasts an optimal mix of active retail spaces on the lower levels and a master leased 270-key lifestyle hotel on the upper floors. This unique facility mix positions the Property as a rare and highly sought-after mixed-use landmark asset in the area.

Strategically situated near Hongik University Station, a key transportation hub in Seoul's northwestern region, the Property benefits from exceptional accessibility with prime street-frontage along Yanghwa-ro, a prominent thoroughfare within the core Hongdae retail market. Despite the challenges posed by the COVID-19 pandemic, Hongdae’s retail market has demonstrated remarkable resilience, reaffirming the enduring popularity of the Hongdae market among both domestic and international visitors.

Leveraging the full market recovery in both the retail and hotel sectors, the Property presents a compelling value-add opportunity. The retail component offers value-add opportunities through strategic tenant renewal or replacement, while the hotel component can leverage a performance-based rental scheme with downside protection to capitalise on the scarcity of hotel supply and he growth of international visitors within the Seoul market.