Prime Views JUNE 6 SEOUL
Kyung Hee Univ. Sangbong Baengnyeonsan SEOUL (Mt.) (Intercity Bus Terminal) Hoegi Jungnang-gu Korea Univ. Gyeonggi-do High-Quality Institutional Grade Office Markets Completion CBD/ Gross Floor Ansan (Mt.) Cheongnyangni Line 1 No. Building Name Date Non-CBD Area(sqm) Digital Media City (University of Seoul) Line 2 28 29 30 31 Sinseoldong Line 3 CBD Dongdaemun-gu 1 디타워 4 CBD 105,461 Line 4 up Seodaemun-gu um 5 1 3 10 Dongmyo Line 5 2 센터원 0 CBD 168,001 Line 6 6 Achasan (Mt.) Ewha 9 2 Line 7 Line 8 3 그랑서울 4 CBD 175,537 a Park Yonsei Univ. Womans Univ. Sindang Line 9 8 Wangsimni A`REX 4 Hongik Univ. Cheonggu Gwangjin-gu 스테이트타워남산 1 CBD 66,799 (Airport railroad) 32 4 33 34 35 Amsa-dong Bundang Line Myeongdong 5 교보생명빌딩 Prehistoric 1984 CBD 95,072 Ewha Womans Hanyang Sinbundang Line Gunja 7 Settlement Site Sinchon Univ. Yaksu Univ. Jungang (Neungdong) Line 6 서울파이낸스센터 2001 CBD 119,647 Gyeongui Line Hapjeong Mapo-gu Seoul Station Seongdong-gu Gyeongchun Line Children's 7 서울스퀘어 Railway 2009 CBD 132,806 nyudo Grand Park Park Gongdeok Namsan Park Geondae Rodeo 8 삼성생명본사 1984 CBD 87,683 Seoul Forest Seongsu Street Gwangnaru 36 37 38 39 9 Oksu (Presbyterian 페럼타워College & 0 CBD 55,695 Bamseom Konkuk Univ. Theological Seminary) Cheonho (Islet) 10 종로타워 (Pungnaptoseong) 1999 CBD 51,093 Itaewon angsan National Samgakji 11 강남교보타워 2003 GBD 92,718 Assembly Gangdong-gu 12 강남파이낸스센터 2001 GBD 212,615 Yongsan Yeouido Park 18 Apgujeong 19 Station 40 41 Sinsa-dong 42 43 20 13 아셈타워 2002 GBD 147,059 21 Garosu-gil Yeouido Yongsan Park 14 삼성생명서초타워 2007 GBD 110,661 22 Ichon (National Gangnam-gu Yeouido Saetgang Museum of Korea) Office Cheongdam Singil Ecological Park 15 GS 타워 1999 GBD 141,552 Jamsil Sports Jamsil Complex 16 포스코센터 1995 GBD 181,052 Yeongdeungpo Station Noryangjin Noryangjin 13 Fisheries 44 45 46 47 Express Bus Sports Complex rim Wholesale Market GBD 17 17 파르나스타워 6 GBD 104,371 Terminal Samseong Yeongdeungpo-gu YBD 16 18 1 IFC 1 YBD 88,248 Dongjak (Seoul Seolleung Songpa-gu 11 15 National Cemetery) 19 2 IFC Seokchon-dong 2 YBD 78,031 Dongjak-gu 12 Ancient Baekje-era Seoul National Gangnam Gangnam-gu 20 3 IFC Stone Mound Tombs 2 YBD 160,778 Cemetery 14 Boramae Park Seocho-gu 48 49 50 51 Garak Market Daerim Seoul Nat'l Univ. of 21 FKI 빌딩 3 YBD 168,506 Garak Market (Guro-gu Office) Education Dogok 22 한화생명 63빌딩 Munjeong-dong 1986 YBD 166,430 Yangjae Rodeo Street Seoripul Park (Seocho-gu Office) Suseo Sillim Chongshin Univ.(Isu) 서울오피스시장은전통적으로 Gwanak-gu 광화문역과서울시청, 남대문지역및서울역을포함하는 CBD 도심지역과강남역중심의 CBD GBD YBD 강남대로와삼성역인근의테헤란로를포함하는 GBD지역, 여의도역부근의 52 YBD 지역으로나뉜다 53. 54 55 Sadang Yangjae cheon-gu Nakseongdae Park 대부분프라임빌딩의년수는 5~6년밖에되지않았다. 신규오피스가공급되기전인 0년전만해도공실률은 5% Citizens' 전통적비즈니스중심지 주요대로로부터의접근성이 Forest 한국의월스트리트아래의자연공실률을유지했다. 하지만, 0년부터프라임급을포함하는 A등급신규오피스가 Umyeonsan 대규모 (Mt.) 공급되면서 Seoul Grand 주요좋음 주요정부및금융기관소재권역평균 A 등급공실률이 10% 이상으로상승하기시작했다. Park 주요증권사들의본사소재 편리하고정비된교통망 주요글로벌기업의본사소재본보고서는 CBD, GBD, YBD의 3개주요권역에위치한 30,000 sqm이상 A 등급 97개의빌딩중상대적으로우수한 22 국회의사당 국내외유수 IT 기업들집중개의빌딩을프라임빌딩으로선정하고분석하였다. 또한, 한국오피스시장의주요흐름을포함하고있다. 주요외국대사관 한국거래소, 코스닥 럭셔리리테일상권 세지역중가장높음임대료 Gyeongui Line Jongno-gu Seoul City Wall (Fortress wall) Line 2 Line 4 Seoul City Wall (Fortress wall) Sinbundang Line Bundang Line Line 8
SEOUL Prime Space at a Glance RENTAL RATE SUPPLY, ABSORPTION & VACANCY RATE 400,000 25.00% 40.00 350,000 35.00 0.00 0 1 2 3 4 5 AREA (SQ.M) KRW 32,477 Sqm/Mo (F) KRW 32,963 Sqm/Mo KRW 38,390 Sqm/Mo 5.00 KRW 33,054 Sqm/Mo 10.00 KRW 32,358 Sqm/Mo 15.00 KRW 28,374 Sqm/Mo 20.00 KRW 27,670 Sqm/Mo USD - SF / YEAR 30.00 25.00 20.00% 300,000 250,000 15.00% 200,000 10.00% 150,000 100,000 5.00% 50,000 0 0.00% 1 6F 2 Supply 2,880,803 TOTAL PRIME STOCK 9% 1,762,084 Vacancy Others 2% Banking and Financial Services 1,294,921 6 4 Telecom, Media, Communications 28% 2% 2 IT/Technology/ BPO/Software 0 0 6F 10% Public & Government 200 Absorption 5 Professional Services / Legal 2,155,940 3 200 4 OCCUPIER BASE - TENANT ACTIVITY 2,605,444 723,882 3 12% Engineering / Manufacturing / Electronics 38%
SEOUL Key Themes 임차인위주의오피스시장은향후 3~4 분기이상지속될것으로전망된다. 서울오피스시장은여전히임차인위주의시장상황이지속됨에따라, 건물주는임차인유치를위해서년기준 2 달이상렌트프리나실질임대가할인을계속해서고려해야할것으로보인다. 실질임대가와명목임대가의차이는 10~15% 로유지되고있다. 한국의오피스임대차시장은자산가치유지를위해명목임대가의변동폭은크지않는반면, 많은빌딩들이보통인플레이션율에따라 2~3% 폭으로관리비는인상하고있는추세이다. Ryan Lee Senior Director - Head of Global Occupier Services Cushman & Wakefiled South Korea 경제저성장기조하에, 오피스임대시장활동도침체 5 년하반기부터오피스확장에대한임대시장수요의감소세는 6 년초에도유지되고있다. 앞으로, 수요측면에서경기가회복되기까지는, 프라임및 A 등급오피스에대한수요회복이단시간내에이루어지지않을것으로보인다. 신규임차인확장수요가줄면서, 작년대비올해의연간오피스총흡수량은감소할것으로전망된다. 6 년하반기에도확장에의한신규임대차수요보다는매입매각이나, 합병, 구조조정등의전략적인이슈로인한임차인의이동이예측된다. 하지만, 국내에핀테크기술등스타트업열풍이불면서소규모오피스에대한수요가증가하고있다. 동시에 1 인기업창업이활발해지면서, 사무실공유서비스 (Serviced Office) 기업의확장도가속화되고있다. 최근사무공간공유경제모델인 위워크 가맛집, 쇼핑, 영화등각종기반시설이잘갖추어져있고통근이용이한교통요충지인강남지역에첫임대계약을체결하며한국에진출하였다. 임차인의주요시장이탈및분산화 강남오피스지역은전통적으로 IT 중심지역이다. 오라클, 애플, 구글, 페이스북등주요 IT 기업들이강남지역에자리잡고있다. 하지만, 타권역에이전가능한신규공급오피스가늘면서강남을선호했던 IT 기업의이동이시작되었다. 마이크로소프트는과거 GBD 지역에서 CBD 지역으로 IBM 은 GBD 지역에서 YBD 여의도지역으로이전하였다. 대기업들도사옥을상암, 분당, 인천송도등으로이전하며주요권역을이탈하였다. 특히, 판교는전략적으로강남과가까워많은 IT 기업이판교테크노밸리로이전하고있다. 최근강남대신상암 DMC, 판교, 분당등의지역으로신규오피스지역이확장되고있다. 다음카카오, NHN, 넥슨, 안랩, SK 플래닛등의사옥이판교에위치해있다. 특히많은 IT 기업중주요게임업체들이강남을떠나판교테크노밸리로이전하였다. 주요게임업체들이이전하면서테크노밸리는게임산업의첫세대였던테헤란로로부터바톤을이어받아게임산업의 2 세대교두보가될것으로기대된다. 또한, 9 년완공을목표로제 2 판교테크노밸리부지가개발계획임에따라신규오피스지역의확장은계속될것으로전망된다. 신규오피스공급물량의영향지속 0 년부터시작되었던신규공급물량의영향이현재까지지속되고있다. 향후, 예정된신규공급물량의대부분면적이사옥으로사용될계획임에따라총공급규모는감소하겠지만, 신규사옥으로이동하는대규모임차인의이동은임시사옥으로사용하고있는현재빌딩의공실을가져올것이다. 하강경기기조에서확장에의한임대차신규수요보다는주요금융권및대기업의신규사옥완공에따른사옥이동으로인한임차인움직임이예정되어있다. 글로벌경제가회복세로돌아서기까지신규오피스공급물량의영향은지속될것으로전망된다. 임차인입장에서는지금의임차인위주시장에따른임차인혜택을누릴수있는시기를잘활용해야할것으로보인다. 구조조정여파에따른오피스매매물건증가 대기업을중심으로계속되는구조조정의여파에따른임차인이동의움직임은 6 년에도계속되고있다. 또한, 저성장기조하에서기업들은보유부동산을대거매물로내놓고있다. 이러한영향은오피스매매시장뿐만아니라기업의오피스임대차수요패턴을바꾸고있다. 특히, 삼성그룹은그룹재편과계열사의이동을본격화하면서, 올해빅셀러가될것으로전망된다. 또한삼성그룹계열사의대규모이동은하반기까지전통적인 3 대시장에도큰영향을끼칠것으로보인다. 더불어, 최근자금조달비용이낮은해외국부펀드나해외사모펀드자금이국내코어투자시장을지난몇년간주시하고있으며, 글로벌국가대비코어오피스의안정적인수익률로인해글로벌투자자들의한국오피스에대한관심은지속될것으로보인다.
SEOUL Market Snapshot 글로벌경기의불확실성에도불구하고, 현재매각을진행중인 IFC 등서울코어오피스에대한해외투자자들의관심은지속되고있다. Significant Lease Transactions PROPERTY TENANT SUBMARKET TRANSACTION DATE 그랑서울 2,608 SK 머티리얼즈 CBD 1Q6 FKI 타워 4,948 LG 케미칼 YBD 1Q6 센터원 2,430 미쓰비시중공업 CBD 4Q5 센터원 2,792 재규어 & 랜드로버한국 CBD 4Q5 3 IFC 2,373 쿡메디컬 YBD 4Q5 FKI 타워 10,548 범한판토스 YBD 3Q5 FKI 타워 2,759 SAS YBD 3Q5 서울스퀘어 4,132 하나은행 CBD 3Q5 아셈타워 4,628 퓨어스토리지한국 GBD 3Q5 강남파이낸스센터 5,286 더블유게임즈 GBD 3Q5 아셈타워 7,460 암웨이 GBD 2Q5 디타워 4,354 소시에테제네랄 CBD 2Q5 디타워 43,566 대림산업 CBD 1Q5 서울스퀘어 3,306 차병원 CBD 1Q5 Major Sale Transactions PROPERTY SELLER BUYER PRICE (KRW, Billion) SUB MARKET UNIT PRICE (KRW/) TRANSACTION DATE 종로타워 60,652 삼성생명알파자산운용 370 CBD 6,100,376 1Q6 페럼타워 55,695 동국제강삼성생명 420 CBD 7,541,072 2Q5 타워 8 51,752 GL Metro City 도이치자산운용 330 CBD 6,376,565 2Q5 하나대투증권빌딩 69,079 코람코자산신탁하나자산운용 400 YBD 5,790,472 4Q5 파인에비뉴 A 65,775 미래에셋자산운용 SOFAZ 477.5 CBD 7,259,658 1Q4 스테이트타워남산 66,799 신한 BNP 파리바 AIDA 503 CBD 7,530,053 4Q4 올리브빌딩 59,396 마이다스자산운용도이치자산운용 341.3 CBD 5,746,178 4Q4 정동빌딩 39,144 SRA 자산운용이지스자산운용 278 CBD 7,101,982 4Q4 오토웨이타워 47,715 SK 네트웍스이지스자산운용 309 GBD 6,475,951 4Q4
SEOUL Market Snapshot Jongno Tower a prime landmark in Seoul Built in 1999 and slated for renovation works which is expected to be completed by Q4 6 At the heart of the business and recreation centers Approximately 60,650 sq.m of premium quality space in 33 floors Excellent accessibility form Subway Station (located on the Jonggak Station, connected by Seoul Subway Line1) Unique design one of the most distinctive structures in Seoul, a triangular glass and steel tower topped with an oval floating above seven stories of emptiness Owned by Alpha Investment Partners Bought from Samsung Life Insurance for KRW370 billion (USD 315 million), the highest price paid among buildings sold recently F&B Lifestyle Retail in the lower floors (B1 1F) and underground pedestrian network. Jongno Tower offers excellent connectivity by public transport. Connected to an underground pedestrian network for quick access to the subway and shopping arcade, including Bandi and Luni s, one of Seoul s largest bookstores. Jonggak Station 131 Walk 1 min City Hall Walk 10 min Seoul Central Station Walk 15 min 133 426 P313 A01 For more information, please contact: OCCUPIER & INVESTOR SERVICES Richard Hwang Managing Director - South Korea T +(82) 318 8322 richard.hwang@ap.cushwake.com Ryan Lee Senior Director, Global Occupier Services - South Korea T +(82) (2) 3708 8811 ryan.lee@ap.cushwake.com Judy Jang Senior Manager, Research - South Korea T +(82) 2 3708 8817 judy.jang@ap.cushwake.com RESEARCH AND INVESTMENT STRATEGY Sigrid Zialcita Managing Director, Research and Investment Strategy - Asia Pacific T+ (65) 6232 0875 sigrid.zialcita@cushwake.com GLOBAL OCCUPIER SERVICES Jason Whitcombe Managing Director, Global Occupier Services Asia Pacific T +(65) 6232 0896 Jason.Whitcombe@ap.cushwake.com
NOTES: Prime properties are classified as well located, professionally managed office buildings with a minimum leasable area of 50,000 sqm., large contiguous floor plates and built to higher construction standards and provide superior building services; they are well leased to high quality tenants and suitable for institutional grade portfolios. They usually command a premium over Grade A properties and are widely recognized as Trophy assets. Disclaimer: Cushman & Wakefield (C&W) is known the world-over as an industry knowledge leader. Through the delivery of timely, accurate, high-quality research reports on the leading trends, markets around the world and business issues of the day, we aim to assist our clients in making property decisions that meet their objectives and enhance their competitive position. In addition to producing regular reports such as global rankings and local quarterly updates available on a regular basis, C&W also provides customized studies to meet specific information needs of owners, occupiers and investors. C&W is the world s largest privately-held commercial real estate services firm. Founded in 1917, it has 230 offices in 60 countries and more than 13,000 employees. The firm represents a diverse customer base ranging from small businesses to Fortune 500 companies. It offers a complete range of services within five primary disciplines: Transaction Services, including tenant and landlord representation in office, industrial and retail real estate; Capital Markets, including property sales, investment management, investment banking, debt and equity financing; Client Solutions, including integrated real estate strategies for large corporations and property owners, Consulting Services, including business and real estate consulting; and Valuation & Advisory, including appraisals, highest and best use analysis, dispute resolution and litigation support, along with specialized expertise in various industry sectors. A recognized leader in global real estate research, the firm publishes a broad array of proprietary reports available on its online Knowledge Center at: www.cushmanwakefield.com. This report has been prepared solely for information purposes. It does not purport to be a complete description of the markets or developments contained in this material. The information on which this report is based has been obtained from sources we believe to be reliable, but we have not independently verified such information and we do not guarantee that the information is accurate or complete. Published by Corporate Communications. 6 Cushman & Wakefield, Inc. All rights reserved. Cushman & Wakefield, South Korea 6F Seoul Finance Center 136, Sejong-daero, Jung-gu Seoul, 04520, Korea www.cushmanwakefield.com