Philippine Apartment Condotel Lancaster Cebu Opens Doors to Guests and presents yields to preconstruction investors of 8% ROI on their investments over the first 6 months of operations of 2010. Lancaster Cebu Resort Residences [LCRR] in Mactan, Cebu, is a boutique Brand Name Condotel Investment of Pacific Concord Properties Inc, and now ready to accept guests in the Condo Hotel. Under the management of Lancaster Hotels, Land and Properties, Inc. [LHLPI] rental operations of LCRR were soft launched March 2007
Online PR News – 17-July-2010 – – Beth Collingz, International Marketing Director of PLC Global an internet based sales and marketing company and lead marketing partners with Pacific Concord Properties, Inc., for the Lancaster Brand of Condotels in the Philippines, said the original or early bird Lancaster Cebu preconstruction investors whom purchased at our pre-launch purchase price are now earning upwards of 8% ROI on their investments over 6 months of operations and have seen a 45% appreciation in their real estate investment over the past 3 years.
These are not bad figures for a start up project enthused Collingz which is why the company is expanding its operations in Lancaster Cebu over the next 6 months with the acquisition and completion of another 30 suites and 120 over 12 months to mid 2011.
Property is all about LOCATION said Collingz. Mactan and Lancaster Cebu, provides one with both the laid back pace of provincial living, as well as prerequisites of the urban dweller. Schools, hospitals, restaurants, shopping malls, and leisure are all found on the island itself with no doubt contribute to the success of the launch of rental operations.
Lancaster Cebu Resort Residences, located a mere 3 minutes from Mactan-Cebu International Airport, provides easy access to all the essentials of urban living. This ideal location will complement the Condotel operation since Lancaster Cebu will function as a condominium hotel – a preferred accommodation choice of businessmen and holiday travelers alike. Clients can either purchase Condotel Suites for investment purposes or lease the units on weekly, monthly or yearly basis. We currently have Fully Furnished Executive Studio Suite and Two-Bedroom Suites available at Lancaster Cebu Resort Residences at Pre-Increase Prices that will be “Ready For Occupancy from August-September 2010”… at the current price said Collingz.
LHLPI has prepared promotional room rates aimed at budget travelers. Guests can check-in to any of the executive studio suites for as low as $45 a night or to any of the two-bedroom loft rooms at $85 a night plus 13% Government Tax whilst longer term discounted rates for monthly and yearly lease rentals are also available from only $30 a night said Collingz.
For those clients looking for investments in the Philippines, Lancaster Cebu also offers Studio Suites for sale. Collingz said Fully Furnished Studio Suites [36.5625sqm [395sqft] Philippine Pesos: -Pph-75,321.00/sqm -Pph-2,753,924.06] are available and may be purchased with initial Reservation Fee -Pph-100,000.00 Balance Payable without interest over 24 consecutive equal monthly payments of -Pph-110,580.17 [Tax Inclusive]. Alternatively buyers can Save -Pph-106,156.96 by making Reservation [-Pph-100,000.00] then within 30 days 40% Net Down Payment of -Pph-955,412.70 with resulting Balance payable without interest over 24 consecutive equal monthly payments -Pph-66,348.10. Another option, Pay Cash and take 10% discount [Save -Pph-275,392.40] Pay the Reservation Now [-Pph-100,000.00] and the Cash Balance within 30 days [-Pph-2,378,531.66] for an Effective Total Cash Price of -Pph-2,478,531.66. This Suite many also be purchased on Five Year Payment Terms through our no qualification “In-House” Finance with 15% Down Payment.
Whilst the Lancaster Cebu Resort Residences Executive 2 Bedroom Suite, Fully Furnished 2 BR Loft Suite 65.74sqm [710sqft] -Pph-83,161.00/sqm Philippine Pesos: -Pph-5,467,004.14, may be purchased with an initial Reservation Fee -Pph-100,000.00 Balance Payable without interest over 24 consecutive equal monthly payments of -Pph-223,625.18 Tax Inclusive. Alternatively Save -Pph-214,680.16 by making the Reservation -Pph-100,000.00 then within 30 days 40% Net Down Payment of -Pph-1,932,121.50 and resulting Balance payable without interest over 24 consecutive equal monthly payments –Pph-134,175.10. Another option, Pay Cash take 10% discount [Save -Pph-546,700.41] Pay the Reservation Now [-Pph-100,000.00] and Balance within 30 days [-Pph-4,820,303.73] for an Effective Total Cash Price of -Pph-4,920,303.73. These Two Bedroom Fully Furnished Suites many also be purchased on Five Year Payment Terms through our no qualification “In-House” Finance Available with 15% Down Payment said Collingz
US based investors at Lancaster Cebu can take advantage of their 401K or IRA allotments whilst UK clients can avail of retirement tax incentives for the purchase of condo units under their Self Invested Pension Program [SIPP].
With expansion of the rental operations we expect occupancy to increase to some 80% and rental returns to reach the 10-12% ROI level early 2011 based upon the current room rates. Of course as rentals increase with inflation and with the Holidays fast approaching, these figures could be significantly improved said Collingz.
Whilst some renovation works are still ongoing within the complex, unit rentals are still available to guests at 'Special Promo Rates'. Cebu City is the acknowledged gateway and Queen City of the South. Cebu is the most important trading and commercial hub outside of Metro Manila. Mactan Cebu International Airport assures the arrival of a steady stream of international flights from Amsterdam, Frankfurt, Singapore, Hong Kong, Bangkok, Macau, Tokyo, Jakarta, Kota Kinabalu, Seoul and Qatar. There are also chartered flights from Incheon, Taipei, Kansai, Nagoya and Kiaoshung that arrive on a weekly basis. Cebu is identified by Asiaweek and Conde Nast Traveler as one of Asia’s Best Cities.