IGIS Asset Management, a leading real estate asset manager in South Korea with approximately USD 45.4 billion in AUM, announced today the grand opening of the retail component at ONE CENTINEL, a fully renovated office building in Yeouido, Seoul's central business district. The project marks three years since IGIS acquired the former Shinhan Financial Investment Tower in August 2022.

ONE CENTINEL represents a comprehensive value-add strategy executed by IGIS, transforming the asset through extensive remodeling, repositioning, and tenant curation to enhance investment returns.

Expanded Retail Footprint Through Horizontal Extension

The most significant physical transformation involved horizontal expansion of the building's podium from basement level 1 through the third floor, dramatically expanding retail space across four floors—up from a single partial ground floor previously. Total floor area increased from 69,974 square meters to 70,637 square meters, while Net Leasable Area (NLA) grew by 1,894 square meters to 35,238 square meters, improving the efficiency ratio from 47.7% to 49.9%.

To enhance accessibility, IGIS installed two dedicated retail elevators and new escalators connecting floors 1-2 and 2-3, creating seamless vertical circulation for shoppers.

Architectural Upgrades and Visual Impact

The building's exterior underwent notable improvements, including replacement of existing signage with a large-scale curved LED media façade providing prominent visibility from three directions at the Yeouido intersection. The first and second-floor facades were redesigned with glass curtain walls and nighttime lighting to create openness and visual appeal.

Curated F&B Mix Anchors Retail Strategy

ONE CENTINEL's retail activation centers on a differentiated food and beverage tenant mix. The basement level features several restaurants by chefs from Netflix's hit series "Culinary Class Wars," including Yakitori Muk by Chef Kim Byung-mook and Yeouido Fairy by Chef Cho Seo-hyung, arranged in a street-style layout. Chef Nam Jun-young's Japanese restaurant Kibo Rock & Roll also joins the lineup.

Additional F&B tenants span trendy cafes on the ground floor (LOWIDE, Teddy's Oven, Brick Sand) and popular dining destinations on the second floor (Special Obok Susan, Muan Hoegwan, Jungang Haejang, Muwol, and Mimiok). The third floor houses premium beef specialist Seolseong Mokjang.

Office Space Enhancements

Office floors received comprehensive upgrades including expanded restrooms, increased ceiling heights from 2.55 meters to 2.6-3.0 meters for improved spatial quality, and conversion of select parking areas to retail and storage. A new drop-off zone was created to facilitate building access.

"ONE CENTINEL goes beyond typical renovation—it revitalizes the Yeouido district," said an official from IGIS Asset Management. "Through physical improvements and strategic tenant curation, we've demonstrated IGIS's value-add capabilities."

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