Beschrijving

This office building, completed in 1999, is located in the central business district of Nam-gu, Ulsan. Owned by Dongyang Life Insurance, the Ulsan headquarters building comprises 3 basement levels and 10 floors above ground with a total gross floor area of 2,970 pyeong. Situated in a General Commercial District, the property currently maintains a 59.3% occupancy rate with 30.4% vacancy, presenting a value-add opportunity through strategic repositioning.

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Kenmerken

Bruto gebouwoppervlakte

9.819 vierkante meter

Bezettingspercentage

90%

Bouwjaar

1999

Bruto landoppervlakte

1.219 vierkante meter

Media

Investeringskenmerken

Mid-sized office asset with 2,970 pyeong gross floor area and 369 pyeong land area
Prime location in Dal-dong central business district, Nam-gu, Ulsan
3 basement levels and 10 above-ground floors, allowing flexible floor-by-floor usage allocation
Built in 1999, offering value enhancement potential through renovation and modernization
General Commercial District zoning provides flexibility for use conversion and development options
Building coverage ratio of 57.62% and floor area ratio of 558.96%, indicating additional development capacity
Current 30.4% vacancy rate enables rental rate optimization and repositioning strategy
10.3% owner-occupied by Dongyang Life Insurance, ensuring partial stable occupancy