Recently, lifestyle accommodation facilities have gained popularity among investors as niche products. This is because the significant increase in domestic travelers due to COVID-19 has fully absorbed the demand, and the impact of real estate regulations is relatively less. In particular, since most lifestyle accommodation facilities generate profits through entrusted operations, the soundness of the entrusted management company has emerged as an important checklist for investors when making investments.
The most eye-catching project recently is ‘Chestertons Sokcho.’ Located in Sokcho, a popular domestic travel destination, it continuously attracts travelers, and Chestertons, a globally renowned real estate services company, directly manages the entrusted operations in a systematic manner. The complex is built in Sokcho City, Gangwon Province, consisting of 4 buildings from 3 basement floors to 12 above-ground floors, with 968 units ranging from 28 to 120㎡ in exclusive area.
◆ UK Global Real Estate Services Company Chestertons Establishes Life Care Program for Room Users
Chestertons, a global real estate services company, was established in the UK in 1805 and boasts over 200 years of history and tradition as one of London’s top real estate firms. It has more than 200 branches worldwide and provides comprehensive real estate services including investment advisory, valuation, consulting, real estate sales and leasing agency services, asset management, and operational services.
In Korea, Chestertons Korea was established in 2017 through a partnership with the comprehensive real estate service company DTZ-PAC, conducting various activities to create business revenue models. Notably, in 2018, it established its subsidiary, Klee Co., Ltd., a company specializing in the sharing economy business, which operates the shared office KleeWork. It supports optimal workspaces and services for efficient work at branches in Sindorim, Magok, and Samsung. Particularly noteworthy is its entrusted operation of the shared lounge at ‘Saenggakgongjang Desiangplex,’ a premium office in Seongsu-dong, which has emerged as a ‘mecca’ for startups. Klee plans to offer diverse programs such as one-day classes, lectures, and hobby classes tailored to the needs of tenants there.
◆ Chestertons Sokcho’s Integrated Management System Captures Both Rest and Profit
On January 25 of this year, Chestertons officially launched Chestertons Hotel & Residences, an integrated entrusted operator for lifestyle accommodation facilities, and announced the introduction and operation of a new concept lifestyle accommodation integrated management system at Chestertons Sokcho that balances owners’ profits and leisure life.
The integrated management system is divided into ▲ short-term accommodation type (open type) and ▲ long-term accommodation type (closed type), allowing owners to choose the operation method for the following year every September, enabling flexible management.
The short-term accommodation type allows owners to designate a specific period to pay for room usage fees and use the space for rest. During unused periods, the vacant rooms are entrusted to Chestertons Hotel & Residences to provide accommodation services to guests, and owners receive operating profits (excluding common maintenance fees, operating commissions, marketing costs, etc.) distributed according to their shareholding ratio. For example, owners can use the space for vacation and leisure during the off-season and receive income through entrusted operations during the peak season.
Owners who wish to stay for an extended period and relax will find the long-term accommodation type preferable. By paying a fixed usage fee, they can comfortably spend time while receiving hotel-grade services provided by Chestertons, such as cleaning, bedding laundry and replacement, and more.
◆ Notable Content and Services for Living a Month in Sokcho
The complex interior is designed with a total of 31 diverse spaces and contents to enable the much-desired ‘living for a month’ experience for many travelers.
First, a private swimming pool and open-air bath are provided, allowing families, couples, and friends to create memories in private spaces. Various ancillary facilities such as party rooms, fitness centers, golf practice ranges, and clubs are also established. Spaces for various leisure activities are prepared as well. Separate areas for cultural activities such as music, games, movies, and photography are created, and rooftop, gardening, and curated shops are also available.
Detailed services considering lifestyle will also be offered. To ensure comfortable rest, housekeeping services, delivery services, butler services, babysitting, meal kits, dishwashing, and travel planning services will be introduced.
Additionally, bicycle and car sharing services will help residents conveniently move around the area, and rental services for leisure equipment such as camping and fishing will be provided to enjoy outdoor activities. In the lobby, reservation services for yacht sailing on Cheongchoho Lake right in front of the complex and golf round bookings will also be available.
A sales official stated, “Sokcho is famous as a popular travel destination with its pristine natural environment and is easily accessible from the metropolitan area and nationwide, attracting a continuous influx of tourists every year. Chestertons Sokcho, located embracing Cheongchoho Lake, is expected to see high tourist demand, and since the entrusted operation is handled by a globally recognized company, it will be spotlighted as an investment alternative for investors.”
Meanwhile, the model houses for Chestertons Sokcho are located in Seongnam City, Gyeonggi Province, and Sokcho City, Gangwon Province.
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