A new Philippine condotel is now open for travelers close to the Ortigas Center in the heart of Metro Manila. Department stores (Rustan's Tower, Crossings and Marks & Spencer), name brand boutiques (Armani, Polo and Cerruti, among others), specialty stores, cafes, restaurants, game centers, Edsa Shangri-La hotel and the William J. Shaw Theater are all within a 10 minute walk from the Condo Hotel and 5 minutes away from the MRT Shaw Boulevard station
Online PR News – 19-July-2010 – – The Lancaster Suites located in Shaw Boulevard, Metro Manila, Philippines, a Brand Name Condotel Investment of Pacific Concord Properties Inc, is now ready to accept guests on short and long term leases in the Condo Hotel.
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 Condo Hotels in the Philippines, said property is all about location. Lancaster Suites, centrally located along Shaw Boulevard, Metro Manila some 200 meters from EDSA-Shaw Boulevard Light Rail Transit Station and the Ortigas Center business district, provides guest access to its own unique Mini Mall feature with prerequisites of the urban dweller. Schools, hospitals, banks, restaurants, shopping malls, and leisure are all found within a few minutes from the condo hotel.
Lancaster Suites, a mere 5 minutes from such Ortigas landmarks as the SM Mega Mall, Shangri-La Mall, Edsa Plaza Hotel, and the Asian Development Bank, San Miguel Corporation and Banco de Oro Head Office, provides you with easy access to all the essentials of urban living. This ideal location will complement the condo hotel operation since Lancaster Suites Manila will function as a condominium hotel – a preferred accommodation choice of businessmen and holiday travelers alike. Clients can either purchase condo hotel suites for investment purposes or lease the units on weekly, monthly or yearly basis.
LHLPI has promotional room rates aimed at budget and business travelers whilst longer term discounted rates for monthly and yearly lease rentals are also to be made available. Check out our promo rates on www.condotel-rentals-manila.com said Collingz.
Clients wishing to purchase units may do so and we currently have a few Executive Studio Suite and One-Bedroom Suites available at Lancaster Suites at Pre-Operational Prices that are “ready for occupancy” at the current price said Collingz.
All units at Lancaster Suites have kitchen facilities. The standard unit price provides for the suite to be semi-finished but not fully furnished. Included in the price are interior finishing’s such as tiled and semi-fitted bathrooms, bedrooms with simulated wood plank flooring, semi-fitted living and dining area with simulated wood plank floorings and lower kitchen cabinets/work tops installed. Walls and ceilings are painted cement finish. A complete optional extra interior fit-out package including unit fittings and fixtures, furniture’s, furnishings, air-conditioning, lighting fixtures and appliances will be available towards the time the units are closer to being completed. Monthly maintenance fees are currently around 80 pesos/square meter of the unit floor area/month.
Prospective or existing unit buyers may avail of up to 15 year mortgages for the purchase of all Lancaster Suites Tower I Condotel units with minimum equity of 30%. Banco de Oro (BDO) a commercial Bank in Metro Manila has just approved a buyer's financing or mortgage plans for Lancaster Suites Tower I Manila Condo Hotel units. The new financing scheme, a first providing Philippine Mortgages to Foreign Nationals residing overseas for Condotel units in the Philippines, is now available to unit owners (Filipinos, Filipino-Americans and Foreign Nationals alike) whom are looking to purchase a Condo Hotel Suite or refinance their investments through BDO's Home Loan
Lancaster Suites Tower I Manila Executive Studio Suites may be purchased with a Reservation Fee of Philippine Pesos: 25,000.00 then 30% Down Payment of Pesos: 859,709.66 within 30 days and the resulting balance payable over 12 equal consecutive monthly installments of Pesos 167,165.77. For clients intending to enroll units in the Condo Hotel Rental Pool a complete Condo Hotel Suite "Fit-Out" package including all required items of furniture's, furnishings, appliances, air-conditioning, kitchen utensils, dinnerware's, linens etc is now available for Studio Suites ranging from Pesos: 403,715.00 said Collingz
Banco de Oro Lancaster Suites Tower I Manila Home Loan Program, a no hassle finance option, is available to all non-resident foreign nationals and overseas Filipinos alike, requires payment of the initial Reservation fee of -Pph-25,000.00 and within 30 days payment of a minimum 30% equity [-Pph-859,709.66] plus for those clients enrolling units in the Condo Hotel Rental Pool, payment of the ‘Fit-Out’ package [-Pph-403,715.00]; the remaining balance [-Pph-2,005,990.00] may be financed over 15 years with a monthly repayment of -Pph-23,438.00
Metro Manila remains a popular choice with international buyers and institutional investors. Collingz says clients tell her that it makes more sense to buy in a year-round vacation destinations and business centers. Lancaster - The Atrium Condo Hotel developments by Pacific Concord Properties located in Shaw Boulevard, Metro Manila - fits the bill with all it offers to International buyers.
Accessibility is also a factor. “Flights from London to Manila, for example, average just 16 hours, add to that the many airline specials and it’s easy to see why this area is becoming an international community.” Unlike other offshore rental properties, where the rental market is largely seasonal, in the Philippines there is a strong market for rental properties year round. This gives buyers greater flexibility in choosing when to use and when to rent their property. The strong rental/second home market also has resulted in a proliferation of professional property managers and rental agents, making property ownership and rental easy. Pacific Concord Properties Inc with its flagship Lancaster Condo Hotel Developments fit’s the bill enthuses Collingz.