studio flat for sale
Philippines - Manila
like this property?Call 0843 315 5825
- Superb skyscraper project with prime location in the booming capital of the Philippines - Manila
- The only central Manila condotel with a casino license!
- Excellent 5 star facilities, including rooftop pool, fitness suite, bar, restaurtant, conf rooms etc
- Award winning developer with excellent track record
- Tower 1 was completed on time and is achieving great returns for investors
- Fully managed and fully furnished, so hands-free investing!
- Above average yield projections (6% minimum yield uncapped for 5 years!!)
- 70% non status finance at ZERO % interest
- Fully furnished units from just $80k USD so just $24k USD down!
- 2 nights free stay for all interested investors!!
About the Property
The Lancaster Atrium is the second condotel forming part of a world class skyscraper development in the heart of Manila - the capital of the Philippines.
A genuine prime city location, in the thriving business district of Ortigas, home to famous SM Mall, the Shangri La Plaza and Hotel and the famous Wack Wack Golf Course - which The Lancaster Atrium actually overlooks - this is diamond class real estate in the best part of town
The first tower, known as The Lancaster Suites, was completed in December 2007 on schedule and is already open for business operating as a high end condotel (serviced apartments with full hotel and concierge services). There is a high demand for this type of accommodation in the capital - from tourists, returning Filipinos, business travelers and workers on short term contracts
Developed and managed by Pacific Concord Properties Inc (PCPI) - a blue chip developer and one of the fastest growing companies in the Philippines. PCPI won the Philippines Greatest Brands award in 2005
The Lancaster Atrium is already 50% sold out, buyers are generally regional investors, expatriate Filipinos from the States in particular, Koreans, Chinese, ex-pats and also a small number of investors building global portfolios
Pricing starts from circa $80k USD for a fully furnished, fully fitted out oversized studio apartment - this represents lowest ever pricing - its a good time to buy, the equivalent of buying in Bangkok ten years ago (prices have gone up at least 4 fold since then)
Rental yields are expected to be between 8% - 12% in year one as prior to the tower being operational, full marketing will have been underway for some time. Occupancy should start at over 75%
Capital growth projections suggest around 12% - 15% per annum
No restrictions for foreign buyers - all owners will be granted a Certificate of Condominium Title and have complete ownership of their units on a freehold basis
The Philippines economy is booming with GDP figures of circa 6% and a very visible rising middle class
The entrance to the tower is a feast of glass and marble, with a huge lobby, reception, and mezzanine level featuring a cigar room, business centre, bars and restaurants. The tower will be 40 floors high, with a range of stunning properties available - oversized studios, one bedroom units, two bedroom units, two bedroom duplex units, three bedroom duplex units and huge, luxurious penthouses at the top. The very top deck of the tower will house a beautifully designed swimming pool and open air lounge bar plus a private club for guests and members. The views from the upper floors are outstanding.
Background Information - The Condotel Concept
A 'condotel' is a development of high spec, high end serviced apartments that operate within a hotel environment. Guests stay in self-catering studios, one beds, two beds etc., right through to luxury penthouses. Although the units are fully self-catering, guests and owners have full usage of the hotel services (concierge, room service etc)
Within PCPI's triple condotel development, in each tower there is a stunning lobby (PCPI believe that high class lobby commands a higher room rack rate leading to increased yields for owners), various F&B outlets including restaurants, brasseries and lounge bars, a cigar room, a business centre plus a rooftop tropical swimming pool with a cafe bar and a rooftop private members club. There will also be a fitness studio and gym within the Lancaster Atrium complex and a 24 hour, floodlit golf course nearby.
Price wise, condotels are typically charge a lesser room rate to standard international brand hotels, so they suit tourists and business travelers alike but also workers staying in the city on longer term contracts. Some guests choose to live in the condotels all year round - especially expats who prefer the service driven elements of the environment.
There are multiple markets for rental so yields for investors should start at over 8%, and are projected to rise to excesses of 12% after year one of operations. These units are very marketable and well supported by local, regional and international real estate investors.
The Philippines is the second-largest archipelago on the planet, with over 7,000 individual islands counted within its borders. It is a true Asian tiger economy.
Manila has become the trading post of choice for global companies needing an Asian base. The level of education in the Philippines is excellent, with most locals speaking and writing excellent English. The cost of labour is lower than in other Asian cities and with 3 airports all within 30 mins of the centre of the capital, from Manila you can fly pretty much anywhere, anytime.
Manila is home to the super mall - there are high class malls almost everywhere in the centre, with shops stocked with Prada, Gucci and other international brands, there are also some hyper cool cafι and lounge bars, sophisticated restaurants and hip night clubs. There are a range of 5 star hotels throughout the city, Hyatt, Shangri La, Intercontinental etc.
Manila is a thoroughly modern Asian city - busy, noisy and absolutely booming, the time to invest is now!!