Lancaster Cebu Investors Yield 8% ROI on Condotel Rentals
Posted by Nick Niesen on November 8th, 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.
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 in the first 3 months of operations and have seen a 45% appreciation in their real estate investment over the past 2 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 immediately and 120 over 12 months to mid 2008.
This follows the recent announcement the company has acquired, by purchase, additional units in its Lancaster Cebu Condotel adding another 75M pesos to its project inventory and expansion program. This brings the number of properties held or under contract in the development and condotel rental pool to 75 suites with another 120 units to be added before year end for Condo Hotel rental operations.
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 November 2007 at the current price said Collingz.
For the soft launch running through to December 2007, LHLPI has prepared special promotional room rates aimed at budget travelers. Guests can check-in to any of the executive studio suites for as low as $35 a night or to any of the two-bedroom loft rooms at $65 a night plus 13% Government Tax whilst longer term discounted rates for monthly and yearly lease rentals are also available said Collingz.
For those clients looking for investments in the Philippines, Lancaster Cebu also offers Studio Suites for sale.
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 the expansion of the current rental operations we expect occupancy rates to increase to some 80% and rental returns to reach the 10-12% ROI level early 2008 based upon the current promo rates. Of course as rentals increase with inflation and the with the Holidays fast approaching, these figures could be significantly improved. Not only that, current real estate appreciation is also a factor running at some 15% per annum in Cebu 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, Tokyo, 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 Traveller as one of Asia?s Best Cities
About the AuthorNick Niesen
Joined: April 29th, 2015
Articles Posted: 33,847
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