The highest price ever for business facilities auctions… Nonhyeon-dong Building 139 billion won auction

Input 2021.03.04 18:05

The building in Nonhyeon-dong, Gangnam-gu, Seoul, recorded the highest bid price ever for business facilities in the auction market.

According to Jiji Auction on the 4th, 199-2 building and land in Nonhyeon-dong (1683㎡ of land) were auctioned at 138.9 billion, 99.9 million won at the Seoul Central District Court on the 3rd. Although it is a large item with an appraised price of 105.577 billion won, 5 bidders flocked to the first auction, and it was a successful bid at 132% of the appraised price.

This is the second largest successful bidder ever since 2001, when Jiji Auction built an auction database, and is the highest successful bidder ever among business facilities. The highest bid price ever was Yatap-dong Passenger Terminal (341 Yatap-dong, 3678㎡ of land), Bundang-gu, Seongnam-si, Gyeonggi Province.

The Nonhyeon-dong building, which won a bid this time for about 139 billion won, was completed in June 1985 with a scale of 1 basement floor to 8 floors above ground. It is adjacent to Gangnam-daero and is close to Exit 3 of Sinnonhyeon Station (Line 9), which is evaluated for its good location. According to the court’s lease survey, all floors except the management office have been vacant since November, 2019, when the decision to start the auction was made.

An official from Jiji Auction said, “Location requirements with a large floating population and good accessibility, good building management conditions, and the fact that the name burden is low because of total vacancy are analyzed as the reasons for the high competition rate and the successful bid price rate.