Property Overview
·The property is a commercial facility located in the Gwanggyo district of Suwon, Gyeonggi-do, covering an area of approximately 85,800㎡. It is under a master lease agreement with GS Retail (expiring in September 2035). The subtenant, Lotte Shopping, operates a Lotte Outlet and a Lotte Cinema, making it a high-quality retail asset.
| Category | Property Overview |
|---|---|
| Address | 10, Docheong-ro, Yeongtong-gu, Suwon-si, Gyeonggi-do (1338 Iui-dong) |
| Land Area | 8,087.99㎡ |
| Gross Floor Area (MAPS REIT 1 Portion) |
|
| Building Coverage Ratio | 69.95% |
| Floor Area Ratio | 528.70% |
| Size | B8/17F (MAPS REIT 1 Portion: B4~5F) |
| Parking Spaces | 2,467 spaces (MAPS REIT 1 Portion: 872 spaces) |
| Completion Date | August 2015 |
| Tenant | GS Retail (Credit Rating: AA, Stable) |
| Subtenant | Lotte Shopping (Credit Rating: AA-, Stable) |
Regional Analysis
·Lotte Outlet Gwanggyo is located on the key transportation axis connecting Pangyo, Bundang, and Gwanggyo in the southern metropolitan area, providing excellent accessibility to downtown Seoul and the Gangnam area.
·Gwanggyo New Town secures a substantial potential customer base of approximately 1.6 million people from the densely populated adjacent residential areas of Suwon’s old downtown, Suji, and Bundang.
Tenant Overview
·Based on the strong credit of GS Retail, one of the core affiliates of the GS Group, stable revenue generation is expected.
·Fixed rent is collected from the tenant with an annual 2% rent increase applied
·Lotte Shopping, a core affiliate of Lotte Group, enhances the stability of the asset.
Source: GS Retail Annual report, Lotte Shopping Annual report