LH to Supply Office Facility Site B1-1BL in Suseo Station Area

[Asia Economy Reporter Kim Min-young] Korea Land and Housing Corporation (LH) announced on the 19th that it will supply the B1-1 block of office and distribution facility land within the Suseo Station Public Housing District through a competitive bidding process for general real demand buyers.

The B1-1 block to be supplied this time is 6,635㎡ in size, with a building coverage ratio of up to 60% and a floor area ratio of up to 800%. Office facilities (including officetels) and retail facilities can be constructed, and the expected supply price is 84.15 million KRW per 3.3㎡.

The payment terms are an interest-bearing installment plan over 2 years and 6 months. Except for a 10% down payment, the intermediate and final payments can be made in five equal installments every six months. The current installment interest rate is 2.3% per annum, and early payment discounts (currently a 5% annual discount rate applied) are also available if paid before the due date. However, from January 1, the installment interest rate will be applied at 3.5% per annum.

The B1-1 block is located closest to the Suseo Station Complex Transfer Center within the Suseo Station District and faces Bamgogae-ro, which directly connects to Nambu Sunhwan-ro and Daewang Pangyo-ro, offering excellent accessibility via rail and road transportation.

The Suseo Station Complex Transfer Center is planned to be developed as a new landmark in Gangnam, including Shinsegae Department Store, hotels, offices, residential, and cultural facilities.

Bidding applications and bid openings will be held on the 28th of this month, with contract signing scheduled for the 30th. For more details, please refer to the announcement posted on the LH Subscription Center or contact the LH Seoul Regional Headquarters Land Sales Department.