| TOP (484) :Asia (17) : Phillipines (8)
New High-Rise Apartments in Condo Hotel in Manila in the Philippines (Atrium Tower II)
| Property Group | Residential | | Property Type | Apartment | | Built | 2009 | | Waste System | Septic | | Price | US$ 93,718
For Sale |
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| Location | Manila | | Nearest City | Manila | | Living area | 62.82 sq/m | | Bedrooms | 1 | | Bathrooms | 1 | | Living Rooms | 1 | | Kitchens | 1 | | Terraces | 1 |
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| | For further details contact
The Gray Rider Real Estate Co.
John Wallace
143 Longview Drive
Chatham, 12037, NY
United States
Phone: +1-518-392-7062
Fax: +1-877-875-5704
http://www.worldrealtynews.com |
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| City | | Gated Community | | Holiday Area | | Oceanview | | Mountainview | | Shopping nearby | | Schools nearby | | Public Transport | | Medical Facilities | | Leisure Facilities | | Fitness Center | | Balcony | | Lift-Elevator | | Central Air Conditioning | | Cable/Satellite TV | | Microwave | | Dishwasher | | Spa/Jacuzzi | | Pool | | Double Glazing | | Tinted Glass | | Central Heating | | Alarm | | Security Service | |
REF: LancasterSuites-1
Pre-Construction Prices
The Lancaster Suites Manila Shaw Boulevard, a mere 5 mins walk from Ortigas Center offering Studio, One, Two & Three Bedroom Condo units for sale on up to 12 year payment terms. Great Investment for Fil-Am's whom visit Manila for Vacations or Business as they can earn Rental Incomes of some 16-18% ROI per annum as Owner Non-Residents when not using their units through Condotel Management and reciprocal arrangement with Lancaster Cebu Resort Residences. This makes Lancaster Suites one of the Hottest Investment Opportunities in the Philippines.
The Lancaster Suites “Condotel” Concept (Rental Income…….)
The Condotel Advantage only at THE LANCASTER SUITES
A Condominium Hotel or “Condotel” combines the convenience of a residential condo with the amenities of a hotel.
Unit owners in a “Condotel” may opt to join the rental pool where he signs with a professional hotel management team who will convert the project into a world class hotel / serviced apartment. A serviced apartment is run just like a hotel but guests usually stay on a long term basis. For the tenant, this means savings since he is not charged a daily rate nor does he have to put up a security deposit like in a regular apartment.
Aside from real estate appreciation, unit owners receive a steady monthly income based on the size of their unit regardless of whether said unit was leased or not. This is because the hotel management will pool together the total income of the entire hotel and distribute this to unit owners net of any expense.
This makes the investment cost efficient and practically risk free.
Unit owners in the rental pool enjoy totally hassle-free CONDOTEL management. They need not worry about unpaid electricity bills, unpaid rent, and other problems so common in conventional leasing. All concerns, down to the payment of electricity bills and utilities are taken cared of by the professional hotel management operator. Lancaster Suites unit owners can sit back, relax, and wait for their monthly rental income from anywhere around the world.
Since Lancaster Suites is a full service Condotel, unit owners also enjoy full hotel services such as 24-hour telephone operator service, a local PABX telephone line in each unit (no need to apply for your own landline), 24 hour House Keeping service, Laundry pickup service on demand, even as a resident.
Assured Returns
Pacific Concord Properties’ President & CEO, Mr. Ronald Lim is the author of the professionalized Condotel concept wherein unit owners in the rental pool get equal rental income per square meter; per month. Fairness is assured since all Lancaster Suites unit owners enrolled in the rental pool earn equal rental income based per square meter. All unit owners will earn the same amount per square meter regardless of actual unit usage. This makes the Lancaster Suites a profitable, transparent and fair investment especially for foreigners and overseas based Filipinos.
At Lancaster Suites, there is no property Management Fee.
The Lancaster Suites [Manila] is designed and conceptualized as a private residential Condominium Hotel [“Condotel”] or a fully serviced private residential condominium building with all facilities of a Hotel, Room Service, 24 Hour Security Guards and Reception, PABX Telephone Operators etc…………
The units in the building are all privately owned by the respective buyers. The unit owner has the “option” of enrolling his or her unit in the Lancaster Suites “Condotel” Rental Pool. The building and the rental pool will be managed and operated by Lancaster Hotels & Resorts which is a affiliate company of the Owner/developer Pacific Concord Properties, Inc., If the unit owner opts to enroll a unit in the “Rental Pool” there are no upfront or any kind of “Management Fees” payable whatsoever. The unit owner merely has to enroll the unit for a yearly period, however they may still use the unit for 1 month within the calendar year with notice….
The Lancaster Suites will operate as a Private Hotel and will source clientele from Travel Agencies, Advertising, Local Chambers of Commerce, Business Establishments and other prominent organizations in the Ortigas Center area etc as would any other Hotel in Manila…….
The Lancaster rental pool will operate on a “Co-operative” basis. Example: There are 50 units enrolled in the pool with a total floor area of let’s say 1,500 square meters. The Hotel room operations derive a monthly rooms rental income of let’s say 3,000,000.00 pesos for the calendar month. The unit owners will receive a 60% share of the net proceeds as share of the rentals. This however will be paid as a “Dividend” based upon the total floor area of the rental pool. Example: Proceeds in Pesos 3,000,000.00 x 60% = 1,800,000.00 divided by the total floor area of the rental pool units [1,500 sqm] = 1,200.00 pesos per square meter which will be paid as the monthly rental dividend. Hence, if you owned a Studio Unit in the rental pool, you share of the proceeds for the month would be your floor area, example 28 square meters multiplied by the dividend of 1,200 pesos. Ergo: your rental income would be 33,600.00 pesos monthly. This is pro-rated whether you own a Studio, 2 Bedroom [Example given: 65 sqm x 1,200 = 78,000.00 pesos monthly rental income] or even a Penthouse Suite
Moreover, because this is “Cooperative” basis, even if your unit was not actually used during the month you still get a share of rental proceeds because of the pro-rated pool sharing system of dividends…
There are in all Condominiums the “Monthly Condominium Dues” payable to cover such recurring expenses as the maintenance of the common areas, security guards etc…. and this will be around 60 pesos per square meter based upon you unit size. Annual Real Estate Taxes are around 8,000 pesos for the Studio units.
The Lancaster Suites is Full Property Ownership - Not Time Sharing
“Enjoy totally hassle-free Condotel management and earn rental revenues regardless of where you are around the world…”
Lancaster Suites was designed with overseas Filipinos and foreigners in mind. Upon unit turnover, Lancaster Suites unit owners have the option of enrolling their units in the rental pool to be operated as hotel rooms. This ensures that unit owners can earn competitive rental income dividends when they are abroad, and still be able to use their own Condotel unit with ample advance notice.
All units at the Lancaster Suites have kitchen facilities. The standard unit price provides for the suite to be finished but not fully furnished. Included in the current price are the interior finishing’s such as tiled & fitted bathrooms, bedrooms with simulated wood plank flooring, living and dining area tiled floorings and lower kitchen cabinets/work tops installed. A complete optional extra interior fit-out package including appliances will be available towards the time the units are closer to being completed towards the latter part of 2009. Monthly condo dues are currently around 60 pesos/square meter of the unit floor area/month..
PRICES AND AVAILABILITY (PRICES AS OF APRIL 1, 2007)
a - Executive Studio Suites. Floor Area 28.17sqm [304sqft] USD $45,495. [Tax Exempt]
b - Executive Studio Suites. Floor Area 32.50sqm [355sqft] USD $52,482. [Tax Exempt]
c - Combined 1-Bedroom Suites. Floor Area 58.00sqm [625sqft] USD $93,718. [Tax Exempt]
d - 1 Bedroom Corner Suites. Floor Area 62.82sqm [676sqft] USD $113,628. [VAT Tax Inclusive]
e - 1 Bedroom “Loft Type” Suites. Floor Area From 50.69sqm [545sqft] USD $91,688. [VAT Tax Inclusive]
f - Two Bedroom “Loft Type” Suites. Floor Area From 74.19sqm [800sqft] USD $134,195. [VAT Tax Inclusive]
g - Three Bedroom Corner Suites. Floor Area 106.sqm [1,140sqft] USD $191,732. [VAT Tax Inclusive]
h - Penthouse Suites. Floor Area From 160.07sqm [1,725sqft] USD $316,247. [VAT Tax Inclusive]
Shops and Commercial Spaces also available, but All Restaurant spaces have been reserved.
NOTE: Because prices and availibility do change, pease Email for current prices, availability and additional information. |
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