Emart may consider changing use of land in headquarters sale Change to residential land could help attract more interest from potential buyers
Translated by Ryu Ho-joung 공개 2021-07-23 07:27:37
이 기사는 2021년 07월 23일 07:22 thebell 에 표출된 기사입니다.
Emart may consider changing the use of its land in Seongsu-dong, which has been up for sale, to maximize the sale proceeds as the hypermarket operator is in need of a large amount of cash to pay for eBay’s South Korean operations.The company is in the process of selecting an adviser to lead the sale of its real estate assets in Seongsu-dong, east of Seoul, industry sources said on Wednesday.
The company intends to sell roughly 13,223 square meters of land, which is classified as a semi-industrial area according to the local law. Emart’s headquarters and Seongsu branch are on it. Whether Emart will sell all buildings and land or part of them is unclear yet.
“The value of the real estate assets put up for sale by Emart will be assessed based on how they will be used by potential buyers,” an industry insider said. “If Emart goes with a sale and leaseback deal, the sale process will be largely dominated by core real estate funds.”
Or the company can consider changing the use of the land to a residential area in order to attract interest from more diverse types of potential buyers, industry watchers said. The change seems not unlikely as there are many homes in the neighborhood.
A possible change in the land use and housing development could increase an expected rate of investment return and lead to more potential buyers joining the sale process. Particularly, this could attract interest from opportunistic real estate funds and property developers. It is also likely that some of them team up with each other to jointly bid for the assets.
Emart may opt to choose the option of changing the land use given its huge cash needs, industry watchers said. The company last month agreed to acquire 80% of eBay Korea in an all cash deal worth 3.44 trillion won ($3 billion). It plans to fund a large portion of the acquisition cost internally.
“(The change in the land use) would increase the attractiveness of the assets to real estate developers seeking to secure more land in Seoul to develop for housing,” said another industry insider. “But still that is subject to regulatory permission. The key to a successful sale will be what conditions Emart will offer to potential buyers.” (Reporting by Hyo-beom Lee)
< 저작권자 ⓒ 자본시장 미디어 'thebell', 무단 전재, 재배포 및 AI학습 이용 금지 >
관련기사
best clicks
최신뉴스 in 전체기사
-
- [2023 더벨 글로벌 투자 로드쇼-인도네시아]인니 정부, 친기업 정책 드라이브에 뜨거운 관심 '체감'
- [2023 더벨 글로벌 투자 로드쇼-인도네시아]"유망 스타트업 양성소, 글로벌 투자 거점 부상"
- [2023 더벨 글로벌 투자 로드쇼-인도네시아]"철저히 투자금융 관점서 봐야, 전략적 접근시 유리"
- [2023 더벨 글로벌 투자 로드쇼-베트남]신용보증기금, 중기 베트남 진출 지원에 팔 걷었다
- [2023 더벨 글로벌 투자 로드쇼-베트남]인프라·산업 투자 증가, 부동산 가격 상승 견인
- [2023 더벨 글로벌 투자 로드쇼-베트남]떠오르는 신규 투자처 '온실가스 감축 프로젝트'
- [2023 더벨 글로벌 투자 로드쇼-베트남]VITASK, 베트남 현지 기업 생산·기술력 개선 앞장
- [2023 더벨 글로벌 투자 로드쇼-베트남]급성장 '핀테크' 산업, 전자 결제·P2P·초단기 분야 각광
- [2023 더벨 글로벌 투자 로드쇼-베트남]진출 계획시 세무 접근 필요, '우대세율·감면' 활용해야 '득'
- [2023 더벨 글로벌 투자 로드쇼-베트남]한국이 투자 주춤할 때 태국은 과감히 '베팅'