With Major Shifts Expected in Residential Lodging Investment, 'Chestertons Sokcho' Attracts Attention with Strong Operator Secured

[Chestertons Sokcho Metropolitan Map]

The investment environment for residential lodging facilities is rapidly changing due to the revised Building Act effective this month. As entrusted management becomes inevitable for most residential lodging facilities, the name value of the entrusted management company has emerged as a key factor determining investment success. Consequently, inquiries from quick-moving investors are surging for the recently supplied "Chestertons Sokcho." Chestertons, which has built solid operational know-how through years of entrusted management, is set to provide stable and transparent operations as the entrusted operator.

Located right in front of Cheongchoho, one of the eight scenic spots of Sokcho, Chestertons Sokcho consists of 4 buildings from 3 basement floors to 12 above-ground floors, with 968 units ranging from 28 to 120㎡ in exclusive area. It offers a variety of sizes suitable not only for 1-2 person households but also for family stays with larger units.

From this month, the revised Building Act applies regulations to residential lodging facilities as well. The amendment specifies that residential lodging facilities require lodging business registration, making their use as residential housing prohibited. In particular, residential lodging facilities with 30 or more rooms or where the business area is at least one-third of the total floor area of the building must register as lodging businesses and select an entrusted management company to operate. Considering the scale of recently supplied residential lodging facilities, entrusted management companies have become essential.

As a result, Chestertons Sokcho is actually benefiting significantly from these regulatory changes. This is because Chestertons, a global real estate specialist with a strong name value, will take charge of entrusted management and provide professional operations through a systematic system. Established in 1805 in the UK, Chestertons boasts over 200 years of history and tradition as one of London’s top real estate firms. It has over 200 branches worldwide and is a founding member of the Royal Institution of Chartered Surveyors (RICS). It is well known among those familiar with real estate.

Chestertons Sokcho applies a newly developed integrated management system for residential lodging facilities, receiving praise as a rational investment product. The integrated management system offers two types: short-term lodging (open type) and long-term lodging (closed type). Owners can choose one of the two annually and apply it for the following year, allowing flexible operation according to their needs.

In the short-term lodging type, owners pay for room usage during the needed period and use it as a resting space, while the operator manages vacancies during unused periods and distributes the operating profits. Owners who want hotel-style services and freedom to rest can choose the long-term lodging type.

The abundant content spaces inside also stand out. An onsen swimming pool and open-air bath are created for relaxation, along with separate spaces for cultural activities such as music, games, movies, and photography. Various ancillary facilities including party rooms, fitness centers, golf practice ranges, and clubs are provided, as well as rooftop gardens, gardening areas, and flea markets.

The life care program emphasizing convenience also attracts attention. Various services such as housekeeping, delivery, butler service, babysitting, meal kits, and dishwashing will be offered to ensure comfortable rest for room users. Additionally, travel planner services, bicycle and car sharing, and leisure equipment rental services will be introduced to facilitate convenient travel. The lobby will provide exclusive yacht sailing reservations and golf round booking services available at member prices.

A sales official stated, “With the enforcement of the amendment, entrusted management has become mandatory for most residential lodging facilities supplied, so investors must carefully evaluate the capabilities of entrusted management companies when investing. Chestertons, which manages shared offices in Seongsu, Sindorim, and Magok, has proven its excellent capabilities, and inquiries from investors who have heard of its reputation are nonstop.”

Meanwhile, the Chestertons Sokcho model houses are located in Seongnam City, Gyeonggi Province, and Sokcho City, Gangwon Province, respectively.