Gas stations by Korea’s
No. 1 oil refiner “SK Energy”
- Korea's No. 1 oil refiner, SK Energy, named on the master lease for all gas stations acquired by SK REIT
- All operations related to gas stations, such as leasing and maintaining auxiliary facilities, are expected to generate stable profits at the expense of the lessee
- SK Energy plans to maximize profitability through flexible operation, facility optimization, etc., along with adapting to the external environment that is consistently changing.
- Under the directionality of ‘Carbon to Green,’ it will give shape to the environment-friendly business model to achieve net zero and proceed with a demonstration of its gas station oil-cell project utilizing accumulated marketing capabilities.
| Number of assets | 111 (only land and buildings/does not include lubricators, plumbing, or tanks) | ||
|---|---|---|---|
| Region distribution | 16 in Seoul, 39 in Incheon/Gyeonggi-do, 25 in provincial metropolitan cities, 31 in other regions | ||
| Service area | 26 commercial zones, 55 residential zones, 18 industrial zones, 12 others |
||
| Land area | 164,708㎡ (49,821 py) | Average land area | 1,483㎡ (449 py) |
| Land-to-building ratio | 95:5 (based on book value) | ||
| Master tenant | SK Energy | ||
| Initial purchase price | KRW 766.4 billion (The standard for 116 cases/July 7, 2021, Nov. 25, 2021) | ||
| Purchase price after partial sale | KRW 733.3 billion (The standard for 111 cases/Sep 27, 2023, sold on Dec. 20, 2024) | ||
| Estimated value of real estate | KRW 911.4 billion (The standard for 111 cases/Dec. 31, 2024, Kyungil Appraisal Corporation) | ||
Distribution of SK Energy Gas Stations (111)
Bakseok Gogae
Gas Station, Seoul
Sky Park, Incheon
Bishan Gas Station, Gyeonggi
Seogok Gas Station, Jeonju
Bishan Gas Station, Gyeonggi
Daldongmac Gas Station, Ulsan
Lease status
- Subject Asset 111 gas stations nationwide
- Tenant* SK Energy
- Lease Term** 10years
- Lease Deposit 10-month payment of monthly rent
- Rent Increase Rate*** One to five yearsRental fixed At least six yearsCPI-increase rate for Seoul for previous year
- Management Cost Payment**** Triple Net
*100% Master Lease
**Extension available upon tenant’s request (+5 years)
***While being linked with CPI-increase rate for previous year, with the threshold of 1.0%
****Management cost Triple Net: Tenant bears maintenance costs, insurance premiums, and taxes and public imposts
About
Tenants
Venturing into new markets to connect with customers anytime and anywhere
Established in 1962 as Korea’ s first oil refiner, SK Energy is the nation’ s No. 1 oil company, operating the Ulsan Complex with a crude oil refining capacity of 840,000 barrels per day and producing a wide range of petroleum products. As of the end of 2023, SK Energy operates Korea’ s largest gas station network with 2,843 locations. By innovating its profit structure through speedy and flexible process operations and strengthening market leadership, SK Energy aims to evolve its business model and become a top energy company in the Asia-Pacific region.
- Total assets KRW 17.3trillion
- Sales KRW 43.4trillion
- Operating income KRW 53.76trillion
- Credit Rating AA
(As of December 31, 2024, on a consolidated basis)