[Exclusive] Yangjae High Brand Office Building Listed for 115 Billion Won

A Complex Facility Located at Yangjae IC, the Gateway to Seoul
Positive Developments Including Yangjae Residential District Unit Plan and Undergrounding of Gyeongbu Expressway

The Yangjae Highbrand office building has been put up for sale.

According to the investment banking (IB) industry on the 14th, office facilities on the 8th to 13th floors and 16th to 19th floors of the Highbrand Building located in Yangjae-dong, Seocho-gu, Seoul, have been listed for sale. The total floor area is 28,866㎡ (approximately 8,732 pyeong), and the sale price is 115 billion KRW. The Highbrand Building is a landmark building located at Yangjae IC, the gateway to Seoul, and is a complex facility with 3 basement floors and 19 above-ground floors (total floor area of 48,424 pyeong / 160,000㎡).

Based on relatively affordable rental fees, it has absorbed tenant demand from the Gangnam area and the Bundang-Pangyo area. The Yangjae area is expected to increase in value due to multiple development projects planned, such as the Yangjae Residential District Unit Plan and the undergrounding of the Gyeongbu Expressway. An IB industry official said, "Some vacancies are expected to occur this year, so future new lease contracts may see rental fee increases and improved conditions, which could enhance rental income."

K-REITs Investment Management purchased a 41% stake of the Yangjae Highbrand office building in 2021 through a real estate fund from a real estate investment trust (REIT) held by Intrust Investment Management. The transaction amount was 90.6 billion KRW, approximately 10.37 million KRW per 3.3㎡. At that time, the major shareholders of the REIT were Inpyeong Co., Ltd., NongHyup Life Insurance, the Korea Technology Credit Guarantee Fund, and Woori Bank. Inpyeong Co., Ltd. completed the Highbrand complex shopping mall in 2005.