As the culture of dining out, shopping, and leisure activities near home has spread due to the COVID-19 pandemic, investors' interest is focusing on commercial facilities with guaranteed "Seulse-gwon" that offer easy accessibility.
"Seulse-gwon" refers to a living area within walking distance where people can comfortably take a stroll in slippers and enjoy leisure activities. Therefore, the most important factor in forming a Seulse-gwon is "accessibility." Whether the target customers can conveniently and easily use commercial facilities greatly affects the revitalization of the commercial district. When a commercial district is well established, it can minimize vacancies compared to surrounding areas and maintain high rental fees.
In fact, consumption within Seulse-gwon has been steadily increasing. According to Shinhan Trendis, the big data center of Shinhan Card, in their 2017 report "Increase Rate by Age Group of Users Utilizing Stores within 500m of Home," the proportion of card payments made within 500m of home reached 45%. Especially compared to three years earlier (2014), consumption near home increased significantly in most age groups except for those in their 20s (-2%), with increases of 27% for people in their 30s, 30% for those in their 40s, 57% for those in their 50s, and 94% for those in their 60s.
For this reason, Seulse-gwon commercial facilities are also highly popular in the sales market. In June last year, "Hills Avenue Yeouido," a commercial facility within the "Hillstate Yeouido Fine Luce" complex in Yeouido, Yeongdeungpo-gu, Seoul, found tenants for all units within just one day of contract opening. Additionally, the commercial facilities within the "Hillstate Cheongnyangni The First" complex in Jeonnong-dong, Dongdaemun-gu, Seoul, which were offered a month earlier, were sold out within half a day.
An industry insider said, "Recently, convenience and high accessibility have become important criteria for consumption, and Seulse-gwon commercial facilities have secured strong competitiveness. Especially with the spread of 'home-around consumption,' which aims to solve everything near home due to the impact of COVID-19, the popularity of Seulse-gwon commercial facilities is expected to continue."
Meanwhile, Hyundai Engineering Co., Ltd. is attracting attention from consumers by offering the commercial facility "British Godeok" within the Hillstate Godeok Central complex in the Godeok International Development District.
British Godeok will be located in Pyeongtaek City and developed as a British-themed street mall. It will consist of a total of 576 units (575 units supplied this time) from basement level 1 to ground level 5, with a total floor area of approximately 71,166㎡, boasting the largest scale within the Godeok International New Town.
The complex is expected to be activated early as a Seulse-gwon commercial facility, which has recently surged in popularity. The area where the commercial facility is located faces the main road of Godeok New Town and is adjacent to Godeok's central commercial district, offering an excellent location. Moreover, about 660 households in the rear complex and approximately 2,600 households nearby are within walking distance, so demand is expected to concentrate based on high accessibility.
In addition, various large-scale benefits are planned nearby. Samsung Electronics has invested about 100 trillion KRW in the Godeok area, currently operating two factories, with plans to construct a total of six factories by 2025. Furthermore, administrative agencies are relocating, and an administrative town (planned) that will serve as the center of Pyeongtaek administration, as well as a large-scale advanced industrial complex called Pyeongtaek Brain City (planned), will be established. Once the apartments planned in Godeok International New Town are occupied, it is expected to have substantial demand support.
An exotic exterior design will also be applied. Seven themes will be implemented, including the "Union Jack Square," a central plaza with landscaping designed with the British flag Union Jack pattern. As an event-type plaza, it will feature beautiful fountain shows, a media greenhouse, and Big Ben, positively influencing customer attraction and commercial facility activation.
Additionally, the gate "Kings Cross," themed after the train station where the Hogwarts Express departs in Harry Potter, the pop music-themed landmark "Abbey Road," which recreates the Beatles' famous crosswalk, and "Brick Lane," showcasing the essence of street art such as graffiti, will also be realized. Based on these exotic themes, it is expected to secure a consumer base regardless of age or gender and become a local landmark.
Various anchor tenants are also planned to move in. The design was made considering this from the construction stage, allowing large franchises to enter, and key stores that attract customers such as bookstores, SSMs, and kids' facilities will also be included, raising expectations.
Meanwhile, the British Godeok model house is located in Pyeongtaek City.
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