LH Gwangju-Jeonnam Supplies 23 Parcels in Bitgreen Industrial Complex via Competitive Bidding

Published 30 Oct.2023 13:54(KST)

LH Gwangju-Jeonnam Regional Headquarters will supply 23 parcels of land it owns within the Bitgreen National Industrial Complex in Wolya-myeon, Hampyeong-gun, Jeollanam-do, and Gwangsan-gu, Gwangju Metropolitan City through a competitive bidding process at the end of this month in 2023.

According to the LH Gwangju-Jeonnam Headquarters on the 30th, the Bitgreen National Industrial Complex is a large-scale industrial complex under development, covering 4.07 million square meters, which includes a mix of targeted industries such as digital information home appliances, the optical industry, and advanced parts and materials industries. It boasts convenient transportation to major areas including Gwangju, Hampyeong, and Naju.

Land Supply List. [Photo by LH Gwangju Jeonnam]

Additionally, Gwangju Global Motors (GGM) is currently operating normally within the complex, and the surrounding area has been further strengthened as an industrial complex with the future car national industrial complex being selected as an additional candidate site.

The land supply implemented by LH this year considers real estate investment demand and market conditions, easing payment terms as much as possible. The supply is broadly divided into land within the industrial complex zone and land outside the industrial complex zone. Land within the industrial complex zone undergoes a bidding and bid-opening process, followed by a final sales contract after signing a tenancy agreement with the Korea Industrial Complex Corporation.

The land supplied within the industrial complex zone is categorized into support facility sites and parking lot sites. The area per support facility site ranges from 676㎡ to 917.3㎡, with the expected supply price (bidding base price) between 595 million KRW and 981.6 million KRW. The parking lot site area is 1,250.7㎡, with an expected supply price (bidding base price) of 725.5 million KRW. Payment terms are set as equal installments over 5 years with no interest.

The land supplied outside the industrial complex zone is divided into neighborhood living facility sites, support facility sites, gas station sites, and parking lot sites. Neighborhood living facility sites range from 767.8㎡ to 788.1㎡ per parcel, with expected supply prices (bidding base prices) between 1.0673 billion KRW and 1.127 billion KRW. Support facility sites range from 1,031.9㎡ to 1,770.8㎡ per parcel, with expected supply prices (bidding base prices) between 1.3154 billion KRW and 2.674 billion KRW. Payment terms are equal installments over 5 years with no interest.

Gas station sites range from 1,667㎡ to 2,048㎡ per parcel, with expected supply prices (bidding base prices) between 1.5154 billion KRW and 2.3552 billion KRW. Parking lot sites range from 2,022.3㎡ to 8,226.9㎡ per parcel, with expected supply prices (bidding base prices) between 1.2539 billion KRW and 7.0752 billion KRW. Payment terms are equal installments over 5 years with no interest.

Bidding for land within the industrial complex management zone will be conducted through LH Subscription Plus from the 15th to the 16th of next month. The successful bidder will be the one who offers the highest price above the expected supply price per parcel. The tenancy agreement with the Korea Industrial Complex Corporation will be signed from the 20th to the 27th of next month, and the contract with LH will be concluded from the 29th to the 30th of next month.

Bidding for land outside the industrial complex management zone will be conducted through LH Subscription Plus from the 8th to the 9th of next month. The successful bidder will be the one who offers the highest price above the expected supply price per parcel. Contract signing will take place from the 16th to the 17th of next month.

For more detailed information about the supply, please refer to LH Subscription Plus or contact the LH Call Center or the Sales Department of the Gwangju-Jeonnam Regional Headquarters.