- Total of 34 units on floors 1 to 2 above ground, scheduled to open in November 2024
- 10% deposit, no interim payment, resale allowed after full deposit payment
Lotte Construction will offer commercial spaces within the ‘Gangneung Lotte Castle Signature’ complex, located in Gyodong, Gangneung-si, Gangwon-do, through a public competitive bidding process on June 22.
The commercial spaces in the Gangneung Lotte Castle Signature complex, situated in the Gyodong area, consist of 34 units across 1st and 2nd floors with a total floor area of approximately 1,621㎡. All units feature a street-facing design along the roadside, providing excellent visibility and accessibility.
Scheduled to open in November, these commercial units offer contract terms that reduce the financial burden on buyers. Each unit comes equipped with a built-in system air conditioning and heating unit. The payment terms require a 10% down payment based on the winning bid price, no interim payments, and a 90% balance payment, significantly lowering the initial capital requirement. Consequently, buyers can invest with a relatively small amount of several tens of millions of KRW until the opening, and resale is possible after full payment of the 10% down payment.
The public competitive bidding for the commercial spaces in Gangneung Lotte Castle Signature will be held at the sales promotion center located near the site in the Gyodong transportation and residential area. Bidders must submit a deposit for each district or unit they apply for, and one person may apply for multiple districts or units. However, the same individual cannot submit multiple applications for the same unit (district).
The bidding, bid opening, and contract signing will all take place on June 22.
The commercial spaces are part of a landmark large-scale complex with 1,305 households, securing a stable fixed demand within the complex and abundant surrounding demand in the Gyodong area. Additionally, the complex is adjacent to the 240,000㎡ Gyodong 7 Park, developed as part of a private park special project, the Solol Art Museum which opened in February this year, and is located at the gateway to elementary, middle, and high schools, creating a bustling commercial district expected to be lively seven days a week.
Moreover, as commercial spaces within a complex branded by Lotte Construction’s Lotte Castle, the product quality and brand value are highly regarded in the industry.
A sales official stated, “The commercial spaces within Gangneung’s representative landmark apartment complex will soon be offered through a public competitive bidding process. Given the strong interest from local demand in Gangneung and nationwide investors during the apartment sales, which proved the product’s quality, location, and future value, we expect high participation in the bidding for these commercial spaces as well and anticipate an early sell-out.”
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
