The Lancaster Atrium

Prices from £40,000

Payment Schedule for the Bare Unit

1. $2000.00 deposit to reserve a unit
2. 30% due after a 30 day due diligence period - contracts are signed at this point
3. 70% balance can be paid in 72 equal monthly installments, on an interest free credit basis*

*This in-house finance offer is non status and open to foreign buyers as well and Filipino nationals, the first monthly payment starts 30 days after the contracts are signed.

For the Fit Out

1. There is nothing to pay for the first 3 years
2. The total cost of the Fit Out is payable in 12 equal monthly installments in year 4
3. There is nothing to pay in years 5 and 6

Rental

Owners have the option to lease their apartments back to the management company and join the rental pool. The projected income for the first year is circa 8% and is expected to rise as occupancy rises and rack rates are gradually increased.

The Lancaster Suites

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 £33,000 for a fully furnished, fully fitted out oversized studio apartment - this represents lowest ever pricing - it’s 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

Location

Development Features:

• Country:Philippines
• Region: Mactan Island
• Type: Purpose Built
• Price: from £59,000

Interior Photos

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