The Seoul Housing and Communities Corporation (SH Corporation) announced on the 13th that it will sell three parcels of land for office and commercial facilities within the Godeokgangil public housing district and the Songpa Creative Innovation District (formerly the Seongdong Prison site).
The supply targets are ▲ two parcels of commercial land in the Godeokgangil district Business Valley ▲ one parcel of office land in the Songpa Creative Innovation District.
The commercial land in the Godeokgangil district is located in the emerging business area known as 'Godeok Business Valley' in eastern Seoul. It is conveniently accessible via the Olympic Highway, the Seoul Outer Ring Expressway, and the Sejong-Pocheon Expressway. A plan for an extension of Line 9 of the Seoul subway is underway, which is approximately a 10-minute walk from the slated new station.
Nearby, the JYP headquarters and 27 corporations in IT, design, security, and entertainment have completed or are preparing for their occupation. The opening of the first IKEA in Seoul, among a large complex facility, is expected to generate significant demand and increase foot traffic.
The intended uses of the two parcels of commercial land include 1st and 2nd category neighborhood facilities, sales facilities, office facilities, and lodging facilities. The supply area of Commercial Land 1-1 is 4,662㎡, and the expected supply amount is approximately 620 billion won. The supply area of Commercial Land 1-2 is 5,462㎡, and the expected supply amount is approximately 737 billion won.
Bidding will take place through Onbid from 10 a.m. on the 12th of next month until 4 p.m. on the 14th. The bid opening is scheduled for the 15th.
The office land in the Songpa Creative Innovation District is part of the land developed from the former Seongdong Prison site. It is located within a 150m radius of the Ogeom Station, which is a prime subway station on Lines 3 and 5, at the center of Songpa District in Seoul. Major public institutions, such as the Songpa Police Station and the Songpa Post Office, are also concentrated nearby.
The intended use of the supply target area is for office facilities (excluding officetels). Recommended uses for the first floor include general restaurants and cafes among the 2nd category neighborhood facilities. The expected supply amount for the supply area of 4,682.6㎡ is approximately 805 billion won.
Bidding is scheduled to take place through Onbid from 10 a.m. on the 13th of next month until 5 p.m. on the 15th. Contracts will be finalized after the bid opening on the 16th.
Detailed information regarding the land supply can be found in the announcement posted on the SH Corporation website and Onbid.