CBRE Korea Successfully Completes Retail Leasing Advisory Service for New Landmark TP Tower in Yeouido

- CBRE Korea's retail advisory service enhances commercial vitality with a diverse selection of domestic and international tenants
- The tower is expected to grow alongside The Hyundai Seoul and IFC Mall as a premier commercial asset in Yeouido

August 27, 2024 (Seoul) – CBRE Korea, the world's largest commercial real estate services company, announced the successful completion of its retail leasing advisory for the newly constructed TP Tower in Yeouido, which was completed in February 2024.

The TP Tower is a prime mixed-use complex directly connected to Yeouido Station, a transfer hub for Seoul's Subway Lines 5 and 9. The structure rises 42 stories, encompassing a total floor area of 141,691 square meters across six basement levels. The office space houses major financial institutions, including Shinhan Securities and Kiwoom Securities, as well as prominent asset management firms such as Shinhan Asset Management and Korea Investment & Securities. The tower's completion coincided with the 50th anniversary of its owner, the Private School Teachers Pension Fund, and it proudly received a five-star rating from GRESB (Global Real Estate Sustainability Benchmark) in 2023, underscoring its commitment to sustainable development.

Since 2021, CBRE Korea has been providing retail leasing advisory services for the commercial spaces within TP Tower. The advisory service has played a pivotal role in establishing the tower as a new landmark in Yeouido, driven by an eclectic mix of retail tenants that invigorate the commercial environment.

Leveraging its advantageous location adjacent to a subway transfer station, the retail space spans four levels, featuring 22 brands from the second basement to the second floor. The second floor showcases semi-fine dining establishments such as MUTAN, HOSHIUBO, SZIMPATIKUS, and Unagi Yondaime Kikukawa, while the first floor is anchored by the French bakery café LA BOUCHE DU LUA, alongside Canadian coffee brands Tim Hortons and Starbucks. Casual dining options on the first basement level include NEUNG RA DO, Ogeunnae Dakgalbi, TSUKIZEN, FAULT BURGER, Ido Gomtang, and Annam, while the second basement level hosts unique retail concepts like ARC N BOOK, known for its distinctive interior and curated literary selection, as well as IKOVOX, Puerco, and LE VEGI WANG.

The TP Tower has successfully crafted a differentiated space that attracts not only the workforce within the building but also local residents and visitors, incorporating a diverse array of retail elements, including Michelin Bib Gourmand restaurants and distinctive local and international F&B brands, alongside a bookstore focused on relaxation and curated reading experiences. 

Ryan Kim, Head of Retail, Advisory & Transaction Services, of CBRE Korea, added, “Yeouido TP Tower is set to solidify its position as a flagship asset that enhances the value of the eastern Yeouido commercial district, benefiting from its proximity to The Hyundai Seoul and IFC Mall. CBRE is committed to providing a comprehensive retail leasing advisory service that not only attracts a diverse range of key tenants but also adapts to evolving consumer trends through innovative content.”