Nine Major Gas Stations, Including Suwon Songjuk Self-Service Station, Up for Sale
Oscar & Company, a comprehensive real estate firm, announced on the 12th that it has been selected as the lead sales advisor for the sale of gas stations owned by Koramco Life Infrastructure REITs.
Oscar & Company has been tasked with handling the sale of nine gas stations across the country, as announced by Koramco Life Infrastructure REITs on the 5th. These include Songjuk Hyundai Self-Service Gas Station in Suwon, Gyeonggi Province; Daejeon Jungang-ro Self-Service Gas Station in Jung-gu, Daejeon; Gaenari Self-Service Gas Station in Chuncheon, Gangwon Province; and Pyeongwon Hyundai Gas Station in Wonju, Gangwon Province, among others.
Interested companies or individuals wishing to purchase these assets must submit their Letters of Intent (LOI) and bid participation applications on the 29th between 1 PM and 4 PM.
Among the assets up for sale, Suwon Songjuk Hyundai Self-Service Gas Station is noted for its strategic location in the metropolitan area with excellent transportation networks. The Daejeon Jungang-ro Self-Service Gas Station is located directly in front of Jung-gu Office Station, with close proximity to Daejeon St. Mary’s Hospital, Jung-gu Office, and the old Chungnam Provincial Government building—all within a one-minute walk.
(photo = Oscar & Company)
These gas stations, including the Pyeongwon Hyundai Gas Station in Wonju and the three stations in Chuncheon, are located in areas with high foot traffic, near government offices, large hospitals, and university districts. The properties also offer potential for future development, such as constructing commercial facilities.
Semi Jang, CEO of Oscar & Company, stated, “The recent increase in demand for drive-thru pickup services, driven by the growth of coffee shops and fast-food chains, enhances the investment value of gas stations. These properties have potential for conversion into multi-use developments, corporate headquarters, or residential facilities, further increasing their value.”
Koramco Life Infrastructure REITs was established with the goal of leasing out 187 directly managed gas stations acquired from SK Networks, offering investors annual dividends in the 6% range based on the public offering price. The REITs were listed on the stock exchange in August 2020.
The funds raised from the sale of these nine gas stations will be used for mid-sized development projects, mixed-use gas station developments, and portfolio restructuring, including the acquisition of new assets and other real estate investments.
As the selected sales advisor, Oscar & Company specializes in commercial real estate investment advisory services. The firm provides comprehensive corporate real estate strategy services, including asset management, real estate marketing, and consulting for property acquisitions and sales.