– Specialized location for startups outside the metropolitan area and the impact of the opening of Daejeon Startup Park… Reflecting expectations of increased asset value
– 60% of contest participants are Daejeon citizens… A virtuous cycle investment structure centered on the region that realizes investment, dividends, and sales
LucentBlock (CEO Heo Se-young), which operates the real estate token securities (STO) platform 'Soyou', announced on the 25th that it will hold a general meeting of beneficiaries from July 2nd to 9th to decide whether to sell the 3rd public offering asset, 'Daejeon Startup Space'.
The third listed building owned by the company, Daejeon Startup Space, closed early on the first day of the public offering in December 2022 and has provided a stable dividend income of 5% per annum. This sale is the first sale case of Lucent Block, and it is expected to be sold to the buyer for 920 million won (excluding VAT) based on the results of the general meeting of beneficiaries, and the cumulative return including operating income and disposal income based on the public offering investors is estimated to be approximately 15%.
The beneficiary general meeting will be held from the 2nd of next month through electronic voting via the Lucent Block 'Ownership' app, and voting rights can be exercised in proportion to the number of beneficiary securities held. The sale will be confirmed if more than one-third of voting rights participate in the vote, and more than two-thirds of them are in favor. During the beneficiary general meeting, on-exchange trading of Daejeon Startup Space will be suspended.
Daejeon Startup Space is a three-story building with a total floor area of approximately 130 pyeong located in Eoeun-dong, Yuseong-gu, Daejeon Metropolitan City. The first floor is a café, and the second and third floors are shared offices for young entrepreneurs. It is a specialized startup area within the university district adjacent to KAIST and Chungnam National University, and is the first Tipstown development site outside the metropolitan area. Currently, startup space operator 'WingWing' is in a long-term lease.
In particular, the opening of Daejeon Hana Startup Park in March of this year, which has led to a full-scale expansion of the local startup ecosystem, is cited as a major reason for the sale. Daejeon Hana Startup Park is a large-scale infrastructure with over 100 startups, venture companies, investment firms, and related organizations, and is evaluated as a regional base with expected increases in asset value in the future.
In addition, the asset is characterized by the fact that approximately 60% of all public offering participants are Daejeon citizens. The analysis is that a virtuous cycle structure has been formed in which local residents directly decide whether to sell the assets they have invested in, thereby realizing investment returns and expanding interest in and participation in local real estate.
“The fact that real estate investment that started with the participation of Daejeon citizens has reached the stage of deciding whether to sell following stable dividend income is a meaningful step forward in activating regional investment,” said Heo Se-young, CEO of Lucent Block. “We will continue to expand the structure in which investors and local communities coexist.”
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