Busan Seomyeon Commercial Area Prime Location 'The Sharp Central Square' Sales Promotion Center Opens on the 25th

- Sale and lease progress through division of existing commercial unit rooms... Some units newly configured as section offices
- Presenting differentiated MD composition considering commercial environment improvement and user convenience

'The Sharp Central Square,' located in the Seomyeon area of Busan, announced on the 25th that it has opened a sales promotion center and will officially begin the sale and lease of its commercial spaces, drawing attention.

The Sharp Central Square was established in the early 2010s as Busan's first residential-commercial complex shopping mall and has gained a reputation as a representative commercial area of Busan. Previously operated as direct leases, the spaces will now be newly sold and leased through unit division.

In particular, this sale and lease plan includes newly designed section offices in some units on the 2nd floor above ground and the 1st basement floor. Section offices have the advantage of allowing small-scale investments, and recently, with the increase of one-person companies and small businesses, tenant demand for section offices is becoming richer, so interest is expected.

The Sharp Central Square is located in the core commercial district of Seomyeon, considered Busan's largest bustling area, which is advantageous due to its abundant hinterland demand. It can attract a daily floating population of about 470,000 people and secures residential demand from a total of 1,679 households in The Sharp Central Star residential complex as well as approximately 2,600 households in the surrounding area.

Additionally, it is easy to attract workers from nearby business facilities such as Korea Electric Power Corporation, Kyobo Building, and the Munhyeon International Financial Complex located right next door. Furthermore, if businesses move into the newly configured section offices, it is expected to revitalize the commercial district and increase demand from related workers, further expanding the hinterland demand.

Since The Sharp Central Square is an existing commercial complex, it has the advantage of being operable immediately after contract signing and can generate rental income right away, which is expected to sustain interest accordingly.

Moreover, the sale price of the commercial spaces starts from the 6 million KRW range per contract area, which is about half the market price of the surrounding Seomyeon commercial district, and the rent is also planned to be set lower than the surrounding market prices, reducing the price burden and generating expected interest.

Meanwhile, The Sharp Central Square announced plans to improve the commercial environment for convenient and enjoyable shopping for residents and nearby hinterland demand, including attracting anchor tenants and partially renewing some facilities.

In particular, the commercial complex will present a differentiated MD (merchandising) composition to enhance user convenience. The floor-by-floor MD composition includes franchise F&B and daily convenience facility zones on the 1st floor above ground and the 2nd basement floor, planning to introduce a large supermarket and various franchise F&B outlets. The 2nd floor above ground and the 1st basement floor will form an office & leisure zone, preparing for the entry of section offices, screen golf, and basketball classes.

Additionally, various landscaping and artworks will be introduced in other common areas to improve the commercial environment and maximize customer inflow. Exclusive parking spaces for the commercial complex will be secured to provide a convenient shopping environment without parking concerns.

A sales official stated, "Since the product, previously operated as a lease, is now being sold through unit division and the commercial district already has high recognition, inquiries from investors are already considerable. The fact that it can be operated immediately at a price cheaper than the surrounding market and that rental income can be generated right away is highlighted, leading to strong interest from new entrepreneurs and investors."