- Developed as a commercial area adjacent to Incheon Subway Line 1 Station 101 (planned)
- Demand expected to increase further with the nearby planned Beopjo Town
Geumgang Housing's commercial facility, 'Covent Walk Geomdan Phase 1,' located in RC3 Block of Geomdan New Town, is attracting attention from demanders due to its high future value.
Inspired by Covent Garden in London, UK, Covent Walk Geomdan Phase 1 is the first street mall in Geomdan New Town and is the commercial complex within the residential-commercial complex 'Geomdan Station Geumgang Penterium The Siglo Phase 1,' which set a record for the highest competition rate in Geomdan New Town at up to 57 to 1 during its sale.
In fact, the commercial area is expected to benefit from major developments that will attract future foot traffic. First, it is developed as a station-area commercial complex adjacent to the planned Incheon Subway Line 1 Station 101, which is expected to bring advantages. Additionally, the legal town, where the Incheon District Court Northern Branch and the Incheon District Prosecutors' Office Northern Branch are planned to be established, is located close to the complex, allowing it to enjoy the halo effect of the surrounding commercial district.
A sales official stated, "The opening of the subway and the establishment of the legal town are expected to lead to securing a large-scale influx of people, which is generating considerable anticipation," adding, "Besides, the complex fundamentally has abundant hinterland demand, including fixed demand from residents and large-scale residential demand, which continues to attract interest and visits daily."
In fact, Covent Walk Geomdan Phase 1 boasts the fixed demand of 1,033 households from Geomdan New Town Geumgang Penterium The Siglo Phases 1 and 2 residents, demand from about 10,000 households within a 10-minute walking radius, as well as abundant hinterland demand from approximately 43,000 households in the surrounding Geomdan New Town and Wondang districts.
Moreover, it is located in the central area of the first phase of Geomdan New Town, the closest section to Seoul, allowing direct benefits from abundant infrastructure and development prospects.
Additionally, adjacent to the complex's commercial land, the 'Geomdan New Town Station 101 Area Development Project (hereinafter Next Complex)' covering approximately 49,540㎡ is planned. Next Complex will be developed as a multi-purpose cultural complex, including a multiplex, cultural center, large bookstore, convention center, kids and sports theme parks, and other large-scale commercial and cultural facilities, which is expected to create synergistic effects.
Meanwhile, Covent Walk Geomdan Phase 1 is raising interest by introducing the 'Master Lease' system for all units, which guarantees stable income for buyers.
The Master Lease is a rental management plan where the real estate developer (project operator) acts as the tenant, establishing a systematic and strategic leasing plan. Since the operator is responsible for tenant recruitment and income guarantee during the contract period, there is no burden from vacancies, and active marketing by the project entity facilitates rapid commercial district activation.
In particular, the operator directly manages major attraction facilities or collaborates with professional leasing agencies to compose differentiated MDs including major brands by industry and attract suitable businesses, enabling the establishment of a commercial district that can continuously secure stable profitability, which is also an advantage.
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