LANCASTER MACTAN

Lancaster Cebu Resort Residences Condotel offering Studio and 2-Bedroom Fully Furnished "Ready for Occupancy" Suites on up to 5 year payment terms, is located only 3 mins from Cebu International Airport in Mactan. Cebu is the acknowledged gateway and Queen City of the South. Cebu is the most important trading and commercial hub outside of Metro Manila. For overseas buyers, Mactan Cebu International Airport assures the arrival of a steady stream of direct 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. Identified by Asiaweek and Conde Nast Traveller as one of Asia’s Best Cities.

Lancaster Cebu Resort Residences located a few minutes from Mactan-Cebu International Airport in Cebu, Philippines is now accepting Reservations for Studio and Two Bedroom Suites adopting International Standard Escrow Trust Account “Buyer Safe” Easy Secure Payment Plans… with up to 5 year "In-House" no prequalification financing available, full condo ownership, no management costs for Condotel Suites and minimum monthly maintenance fees, as buyers or sellers of Real Estate you really should take a moment to look at this Philippine Condotel Investment Opportunity.

Owners of Lancaster Condotel units can stay in their units permanently and enjoy hotel style living 365 days a year or can enroll in the Condo Hotel rental pool and share rental income

Now operational, Lancaster Cebu provides unit owners with premier residential condo units with option of enrolling their units in the Lancaster Condotel Rental Pool. Great Investment for Fil-Am's who visit Cebu for Vacations or Business as they can earn Rental Incomes [at current purchase levels] of some 8-14% ROI per annum as Owner Non-Residents when not using their units through Condotel Management and reciprocal arrangement with Lancaster Suites Manila. This makes the Lancaster brand of Condo Hotels one of the Hottest Investment Opportunities in the Philippines.

Units at the Lancaster Cebu are sold fully fitted, furnished and Condotel ready.

Lancaster Cebu Resort Residences Executive Studios and 2-Bedroom Loft Type Units.

The units will feature:

Aluminum encased windows with bronze-paned glass
Recessed lighting together with a full-sized wood encased mirror
Custom wardrobe closets
Ceramic tiled flooring for both the living room and bedroom areas.
Built-in kitchen nook with Jet-black Granite Counter Tops and Splashboards complete with kitchen and cooking utensils
Bathroom tiles and details from Spain as well as a steel pressed bathtub
Provisions for easy access to the latest in video, cable and telecommunications facilities

• Furniture & Fixtures will include:
3-seater sofa
Lamps
1-queen or 2-single beds
Kitchen counter and cabinets, Kitchen sink
Bar stools
Bathtub, toilet and sink

• Appliances & Equipment will include:
21” color TV
1 Split type Air-conditioning Unit
2.7 cu. ft. refrigerator
8 gallon water heater or multi point water heater
Gas Stove
Microwave Oven
Toaster Oven
Rice Cooker
Lancaster Cebu Resort Residences, Mactan, Cebu.
Available Suites Update September 1, 2009
Prices Quoted are in Philippine Pesos [PHP]

Property is all about LOCATION. Mactan, 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.

Lancaster Cebu Resort Residences, located a mere 3 minutes from Mactan-Cebu International Airport, provides you with 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.

We have a few 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 September 2009”… on strict “First-Come-First-Reserved” Basis at the current Price.

Lancaster Cebu Resort Residences Studio Suites

Fully Furnished Studio Suite
Floor Area :36.5625sqm [395sqft]
Price per sqm : PhP 75,321.00/sqm
PRICE : PhP 2,753,924.06. 

o We currently have a few Studio Suites that 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].
o Alternatively 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,
o 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.
o This Suite many also be purchased on Five Year Payment Terms through our no qualification “In-House” Finance with 15% Down Payment. Reservation [-Pph-100,000.00] and down payment within 30 days [-Pph-313,088.61] with resulting Balance payable over 60 consecutive equal monthly payments -Pph-56,924.57.

Lancaster Cebu Resort Residences Executive 2 Bedroom Suite

Fully Furnished 2 BR Loft Suite
Floor Area: 65.74sqm [710sqft]
Price per sqm: PhP 83,161.00/sqm
PRICE: PhP 5,467,004.14

o These units 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.
o 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.
o 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. Pay the Reservation Now [-Pph-100,000.00] and the down payment within 30 days [-Pph-720,050.62] with resulting Balance payable over 60 consecutive equal monthly payments -Pph-113,004.88
Note: Prices and payment schemes may change without prior notice.

Things you need to know about buying Lancaster Condotels in the Philippines

1. What is a Condo Hotel or Condotel?

Think of a Condo Hotel (also called a Condotel or hotel condo) as a condominium, although one that is part of a hotel facility. As a Condotel unit owner you’ll get all the benefits of more services and amenities than you'd get in a typical residential condominium. At Lancaster Suites we took that one step further and threw in a Mini Mall and Exclusive Businessman’s Club.

2. What types of services and amenities are found in Condo Hotels?

If you can imagine the niceties you’d find in most hotels, then you can picture a condo hotel. Among the features are often resort-style pools, spas, fitness centers, restaurants, concierge services and room service.

At Lancaster Suites Manila and Lancaster – The Atrium Manila apart from normal Hotel amenities including a resort style pool on the podium deck, numerous restaurants and guest services, there is a self contained Mini Shopping Mall integrated into the building design providing guests and residents alike to purchase everyday necessities from various grocery and convenience stores and a variety of services from dry cleaning to salons and clinics within the confines of the building. A fully self contained and integrated business center is provided and even a private, exclusive, members only Businessman’s Club.

3. What is the difference between a Hotel and a Condo Hotel?

The big difference between a hotel and a condo hotel is that a hotel typically has one owner, but a condo hotel is sold off unit by unit. Therefore, a 300-room condo hotel could have as many as 300 unit owners.

Moreover a Lancaster Condo Hotel unit is not time sharing. All Lancaster Condotel unit owners own the property in fee simple on a freehold title deed basis.

4. Is it evident to hotel guests whether they’re staying in a Condo Hotel or a Hotel?

A hotel guest will likely never know that the hotel has multiple owners because the property is operated just like a traditional hotel and often under the management of a well-known hotel companies like Marriot, Hilton, Hyatt, Trump. Also, each of the individual condo hotel units will look identical in design and décor to every other, just as they would in a traditional hotel.

5. Who typically buys Lancaster Condo Hotels in the Philippines?

They’re primarily sold to people who want a vacation home in either Metro Manila or Cebu but do not want to deal with the hassles typically associated with second home ownership such as maintaining the property or finding renters in the off season and property investors whom just want the rental income without all the hassles of being a landlord.

6. What is the demographic of the typical Philippine Condo Hotel buyer?

The spectrum of condo hotel buyers in the Philippines is pretty broad. There are both local Filipino families and Overseas Filipinos and a growing number of International clients that want a second home in a either Cebu, as a vacation destination, or the capital Metro Manila for investment purposes or both. There are a growing number of baby boomers from all parts of the world whom, are at or nearing retirement and want somewhere they can “winter” and there’s no better place than the Philippines with its English speaking population and ease of access from Europe or the United States. There are also plenty of overseas investors who purchase condo hotel units or buy to let suites with little intention of ever using it; they’re in it solely for potential appreciation of the real estate and higher rates of rental income.

7. Can you live in a Condo Hotel?

Yes. At Lancaster Suites Manila a unit owner can live in his or her condo 365 days a year as a primary residence. What could be better than living permanently in a Hotel with all the amenities and facilities at your fingertips? Lancaster Unit owners have the ‘option’ of enrolling their units into the Condo hotel rental pool at any time. Similarly, if enrolled in the Lancaster Condotel Pool the unit owner may withdraw same for personal use by giving adequate advance notice.

8. Who gets the money when your Condo Hotel is rented out?

The hotel management company splits the rental revenue with the individual condo hotel owner. While the exact percentages vary from property to property, at Lancaster Condotels the typical rental split is 60%-40% in favor of the unit owner

9. Who finds hotel guests and then cleans and maintains the condo hotel units?

The hotel management company markets the property and books hotel guests. It also maintains the unit and ensures the smooth operation of all of the hotel’s services and amenities.

10. What are the advantages / disadvantages of purchasing a Lancaster Condotel over purchasing typical rental properties in the Philippines?

Advantages include:

• Hassle-free ownership; No landlord issues
• Rental revenue to offset some or maybe all ownership expenses
• A vacation home available for use whenever you want
• A real estate investment at a time when other investments may seem less attractive
• Strong likelihood of appreciation specially when purchasing at preconstruction stage
• Pride of ownership
• Easy to resell units through the Condotel operator

Disadvantages include:

• Pets are not welcome.
• Advance reservations are required to guarantee availability in case owners unit is rented.

11. Are Lancaster Condo Hotel units difficult to finance?

Not at all, Pacific Concord Properties offers all buyers of Lancaster Suites Condotel units a very easy and affordable ‘In-House Buyer Friendly Payment Plan’ with or without any down payments and up to 6 years repayment period with no interest. Mid term financing is also available through Pacific Concord’s own no prequalification ‘In House Financing’ with or without down payments. A longer term 15 year Bank financing is available only completed units but 30% equity is typically required.

Studio Suites are also available through Bank Financing. Minimum Equity required is with a 30% Down Payment and the balance payable over 15 years ....

For clients intending to enroll units in the Condo Hotel Rental Pool a complete Condotel 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 -Pph-403,715.00

Whilst a Preconstruction units at Lancaster Atrium Tower A Suites are now available as Semi Fitted Suites on the very affordable and competitive New Payment Plan that provides for Suites to be purchased on a No Interest No Down Payment basis with 67% of the payment payable over 60 equal consecutive monthly installments without interest and the 33% balance payable upon turnover of the unit or to be paid over an additional 5 years from turnover through our hassle free no prequalification "In-House" Finance Plans...
The Lancaster Atrium Tower A Condotel & Residential Suites are now available on a new 12 year Payment Plan that provides for 50% of the purchase price of the unit to be paid over 4 years without interest and the remaining 50% over 8 years which can be partially or fully offset from income on the Condotel rentals

12. How long have Condo Hotels been around in the Philippines?

Condo hotels have been around for several decades, but the surge of four-star condo hotels that have been making their way across the country, started around year 2000 in Metro Manila. Cebu is now another up-and-coming area for Condotels in the Philippines.

13. How much do Lancaster Condo Hotel units cost?

That’s like asking how much a car costs. There are different quality condo hotels. Some require greater amounts of money than others, obviously.

There are inexpensive Condo Hotel suites at Lancaster – The Atrium, Metro Manila, Philippines from as little as $57,000 for a Studio Suite.

14. What are typical monthly maintenance costs?

On current average [in the Philippines] of about $0.25 cents per sq. ft per month

15. Do you buy Condo Hotel units after they have been built, or can you purchase Lancaster condo hotels in pre-construction?

Unless you are in a hurry to get started vacationing, it's best to buy Lancaster condo hotels in pre-construction as early as possible. That’s when prices are lowest and unit selection is greatest. You will likely wait two to three years or longer before closing and taking possession of your condo hotel unit, but you will have locked in the price and will get the benefit of maximum appreciation which has shown in Lancaster Suites Manila to be 80-100% on turnover.

16. What do I get for the standard price of the Condo Unit ?

All units at the Lancaster Suites for residential purpose have basic kitchen facilities. The standard basic unit price provides for the suite to be semi-finished but not fully fitted and furnished. Included in the current price are the interior finishing’s such as tiled & fitted bathrooms excluding accessories, bedrooms with simulated wood plank flooring, semi-fitted living and dining area with simulated wood plank floorings and lower kitchen cabinets/work tops installed excluding appliances. Cielings and walls are painted cement finish. Furnishings, furnitures, air-conditioning, unit fixtures and light fittings are excluded.

For clients wishing to enroll in the Lancaster Manila Condotel Rental Pool they are required to purchase, at additional cost, a complete Condotel Suite extra interior fit-out and completion package including unit fixtures, accessories and fittings, bathroom fixtures upgrades, kitchen and cieling enhancements, light fittings, air-conditioning, furnitures, furnishings and appliances, kitchenwares, dinnerware, linens and soft furnishings. "Fully Fitted Ready for Occupancy " Condotel Suite packages for Lancaster - The Atrium will be available towards the time the units are closer to being completed towards the latter part of 2011

17. Is there anything else investors should want to know about Condotels?

There is more to buying this type of real estate than the old phrase, "location, location, location." While most condo hotels are located in desirable resort and business area locations, what is most important is a good franchise with a strong reservation system. Resort Club of the Pacific [RCPC] was recently appointed by Pacific Concord Properties Inc to manage the pre-opening of the Lancaster Cebu & Manila Condotel operations in the Philippines. RCPC will provide assistance in installing a computerized operating, control, financial and membership system for club and hotel operations provide the special disciplines in membership affairs, rooms’ inventory and time management, culinary, F & B service, spa and relevant support operations.

RCPC President, Amor Salud, built a hotel career with Hyatt, Westin, Sheraton and Peninsula Hotels where he developed a balanced perception of overall hotel operations, will oversee the pre-operations of the Lancaster Condotels. He held General Manager and Chief operating Officer Positions for hotels and exclusive clubs for 15 years and was a key officer in the hotel subsidiary of Ayala Land Inc. With a Master’s Degree in Business Management fro the Asian Institute of Management, Salud was one among Filipinos with professional training in international chain hotels abroad.

RCPC Director, Willhelm Bolton, whom will be responsible for the Lancaster Condotel business development comes from a family of restaurateurs in South Africa. He graduated from famous hotel institutes such as Glion, Cornell and Wits, with working experience in South Africa, Europe and Asia. Mr. Bolton occupied senior posts in prominent hotel, resort and club companies in South Africa and the Philippines. His inventory of international affiliations includes Leopard Song Game Ranch – South Africa, Southern Sun Group of Resorts & Hotels – South Africa and Sun International resorts & Hotels.

18. Any suggestions to investors in choosing which Lancaster Condo Hotel to buy?

Get good advice. Talk with a broker who specializes in Lancaster condo hotels and who knows and understands the entire condo hotel market in the Philippines, not just the facts pertaining to a single property. He or she will listen to your wants and needs and then offer recommendations as to which properties best match your requirements. You’ll have an opportunity to comparison shop and consider the pros and cons of each available property.

For those looking for somewhere to live or for rental returns in 2008, the Lancaster Suites Manila Tower I fits the bill. Nearing completion and set for Condotel Operations in January 2008, a few resale units are still available. Preconstruction investments are now available at Lancaster – The Atrium Manila.

A good broker can be the difference between your buying a condo hotel that will be problematic and not live up to your expectations or one that will provide you with years of great vacations, good annual revenue and a substantial profit when you sell.

19. Does it cost more to use a real estate broker to purchase rather than buying a unit on one’s own?

No. With Lancaster condo hotel properties, the prices are always set by the developer and are exactly the same whether you buy directly onsite or using a broker.

The broker’s commission is always paid by the developer and is already built into the price regardless of whether an outside broker participates in the sale or not. Since a Lancaster Condotel broker’s representation is free to buyers, it does make sense to enlist their aid and get the benefit of their advice before making a purchase.

20. How can prospective buyers find a good Lancaster condo hotel broker?

If you are reading this then you have !