Lancaster Cebu Investors Yield 8 ROI on Condotel Rentals
Below is a MRR and PLR article in category Finance -> subcategory Real Estate.
Lancaster Cebu Investors Enjoy 8% ROI from Condotel Rentals
Summary:
The Lancaster Cebu Resort Residences in Mactan, Cebu, offers preconstruction investors an 8% ROI in the first four months of operation, highlighting a promising start for the project.
Article Body:
The Lancaster Cebu Resort Residences (LCRR), a boutique condotel investment by Pacific Concord Properties Inc., has recently opened in Mactan, Cebu. Managed by Lancaster Hotels, Land and Properties, Inc. (LHLPI), the rental operations began with a soft launch in March 2007.
Beth Collingz, International Marketing Director for PLC Global, which partners with Pacific Concord Properties, announced that early investors in Lancaster Cebu are now seeing 8% ROI within the first three months. Additionally, their real estate investments have appreciated by 45% over the past two years, underscoring a successful beginning for the venture.
Collingz emphasized that due to this initial success, the company plans to expand Lancaster Cebu over the next six months. This expansion will see the completion of an additional 30 suites immediately, followed by 120 more by mid-2008.
The company has also acquired more units, investing an additional 75 million pesos into the project, which adds to the current inventory and rental pool. With 75 suites now available and plans to increase to 120 by year’s end, Lancaster Cebu is poised for growth.
Strategic Location:
Collingz highlights the significance of the property's prime location. Mactan, with its perfect blend of relaxed provincial life and urban necessities?"such as schools, hospitals, restaurants, and shopping malls?"ensures success for the condotel's operations.
Situated just three minutes from Mactan-Cebu International Airport, Lancaster Cebu offers convenient access to all urban life essentials, making it an ideal choice for both business travelers and vacationers. The property offers Executive Studio Suites and Two-Bedroom Suites at attractive pre-increase prices, available for occupancy starting November 2007.
Promotional Offers:
For the promotional period until December 2007, LHLPI offers special rates targeting budget travelers. Guests can book executive studio suites for as low as $35 per night or two-bedroom lofts for $65 per night, plus a 13% government tax. Longer-term discounted rates for monthly and yearly leases are also available.
Lancaster Cebu also provides investment opportunities for clients interested in purchasing Studio Suites. U.S. investors can utilize their 401K or IRA, while UK clients benefit from retirement tax incentives through the Self-Invested Pension Program (SIPP).
Outlook:
With current expansions, the company anticipates increasing occupancy rates to approximately 80% and rental returns reaching 10-12% ROI by early 2008. Given the real estate appreciation rate of 15% per annum in Cebu, these figures might rise significantly, particularly with the holiday season approaching.
Despite ongoing renovations within the complex, units remain available at 'Special Promo Rates.' As the premier trading and commercial hub outside Metro Manila, Cebu City serves as the gateway to the south, with the Mactan Cebu International Airport welcoming international flights from various global destinations.
Recognized by Asiaweek and Conde Nast Traveller as one of Asia’s best cities, Cebu represents a prime investment opportunity in the Philippines.
You can find the original non-AI version of this article here: Lancaster Cebu Investors Yield 8 ROI on Condotel Rentals.
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