The Emart Tower building in Sunhwadong near Sungnyemun in Seoul has been put on the market.
According to the commercial real estate services company GenstarMate on the 10th, the Avison Young Korea consortium (Avison Young Korea and Cushman & Wakefield Korea) has been selected as the lead manager for the sale of the Emart Tower.
Located at 37 Sejong-daero 7-gil, Jung-gu, Seoul, the Emart Tower is a prime office building with 6 basement floors and 19 above-ground floors, covering an area of approximately 34,173 square meters.
The Emart Tower is within walking distance of major subway stations such as Seoul Station (subway lines 1 and 4), City Hall Station (subway lines 1 and 2), and Chungjeongno Station (subway lines 2 and 5). The development of the Seoul Station complex transfer center is also planned, which is expected to improve the transportation environment in the future.
Emart, a domestic retail giant, currently has approximately 98.6% of the total area leased, indicating a stable rental structure. The lease term for Emart runs until February 2033.
The expected sale price, considering the transaction prices of surrounding buildings and the publicly announced land values, is in the mid to high range of 30 million won per 3.3 square meters.
A representative from Avison Young Korea noted, "The Emart Tower is a premium asset with a solid tenant, a great location, and future development expectations. We will actively utilize our domestic and international investor networks to maximize the value of the Emart Tower and lead to a successful transaction."