The Lancaster Atrium - project at a glance

The Lancaster Atrium is the second tower of a world class triple skyscraper development in the heart of Manila (Makati) - the capital of the Philippines.

A genuine prime city location, in the thriving business district of Ortigas, home to famous SM Mall, the Shangri La Plaza and Hotel and the famous Wack Wack Golf Course - which The Lancaster Atrium actually overlooks - this is diamond class real estate in the best part of town.

The first tower, known as The Lancaster Suites, was completed in December 2007 on schedule and is already open for business operating as a high end condotel (serviced apartments with full hotel and concierge services). There is a high demand for this type of accommodation in the capital - from tourists, returning Filipinos, business travellers and workers on short term contracts.

The Lancaster Atrium is already 50% sold out, buyers are generally regional investors; expatriate Filipinos from the States in particular, Koreans, Chinese, ex-pats and also a small number of investors building global portfolios.

Pricing starts from circa £42,000 for a fully furnished, fully fitted out oversized studio apartment - this represents lowest ever pricing - it’s a good time to buy, the equivalent of buying in Bangkok ten years ago (prices have gone up at least 4 fold since then).

Rental yields are expected to be between 8% - 12% in year one as prior to the tower being operational, full marketing will have been underway for some time. Occupancy should start at over 75%.

Capital growth projections suggest around 12% - 15% per annum
No restrictions for foreign buyers - all owners will be granted a Certificate of Condominium Title and have complete ownership of their units on a freehold basis.

The Philippines economy is booming with GDP figures of circa 6% and a very visible rising middle class.

The developer is a blue chip developer and is featured in the Filipino “Super brands” coffee table book. A recently completed project they have completed is a CondoHotel on the busy island of Cebu.

Location
The Philippines is the second-largest archipelago on the planet, with over 7,000 individual islands counted within its borders. It is a true Asian tiger economy.

Manila has become the trading post of choice for global companies needing an Asian base. The level of education in the Philippines is excellent, with most locals speaking and writing excellent English. The cost of labour is lower than in other Asian cities and with 3 airports all within 30 mins of the centre of the capital, from Manila you can fly pretty much anywhere, anytime.

Manila is home to the super mall - there are high class malls almost everywhere in the centre, with shops stocked with Prada, Gucci and other international brands, there are also some hyper cool café and lounge bars, sophisticated restaurants and hip night clubs. There are a range of 5 star hotels throughout the city, Hyatt, Shangri La, Intercontinental etc.
Manila is a thoroughly modern Asian city - busy, noisy and absolutely booming!

In the thriving business district of Ortigas, The Lancaster Atrium is in a seriously prime location - in fact it could not be better. It is within easy walking distance of hotels, restaurants, the mega malls and Wack Wack Golf Club - one of the first and finest golf courses in the Philippines. Views from the towers stretch out across the city panorama which looks dazzling at night, or out across the pristine golf course. Next to the towers is the cities most expensive neighbourhood, a community of $million dollar mansions for the nouveau riche and the odd expat.

The apartments
The entrance to the tower is a feast of glass and marble, with a huge lobby, reception, and mezzanine level featuring a cigar room, business centre, bars and restaurants. The tower will be 40 floors high, with a range of stunning properties available - oversized studios, one bedroom units, two bedroom units, two bedroom duplex units, three bedroom duplex units and huge, luxurious penthouses at the top. The very top deck of the tower will house a beautifully designed swimming pool and open air lounge bar plus a private club for guests and members. The views from the upper floors are outstanding

Financial details

Pricing
The cost of a unit is broken down into the property itself (we will call this the Bare Unit) and then the cost of the fit out and the furniture (we will call this the Fit Out). The prices are broken down in this way to minimize the amount of VAT buyers have to pay (VAT is only payable on the bare unit, not the fit out).

• Studios range 28m2 to 32m2 and cost from circa £42,000
• 1 beds range from 44m2 to 62m2 and cost from circa £64,500
• 2 beds range from 74m2 to 76m2 and cost from circa £118,000

Payment Schedule
For the Bare Unit

1. $2000.00 deposit to reserve a unit
2. 30% due after a 30 day due diligence period - contracts are signed at this point
3. 70% balance can be paid in 72 equal monthly instalments, on an interest free credit basis*

*This in-house finance offer is non status and open to foreign buyers as well and Filipino nationals, the first monthly payment starts 30 days after the contracts are signed.

Rental
Buyers taking up properties in Triple Skyscraper have the option to lease their unit back to the in-house management company and obtain a rental yield, which conservatively is expected to be around 8% of the property purchase price, rising up to 12% after the first two or three years of operations.

Tenure
Foreigners can own property in the Philippines on a freehold basis, provided that the property falls under the Condominium Jurisdiction. In the case of The Triple Skyscraper, this project does fall under the condominium jurisdiction, so foreigners can benefit by owning these on a freehold basis.

This investment opportunity is second to none; the Filipino economy is delivering sustained yet aggressive growth and this is your chance to own real estate in the capital. Lancaster the Atrium’s location is a diamond site, in the heart of the central business district and the development company is a blue chip organisation. The units are keenly priced offering the chance for substantial capital growth, whereas the interest free credit allows buyers to spread their payments thus reducing the amount of cash required to make the purchase. The units can come fully furnished, fully managed and ready to rent.

Prime City Real Estate, Manila
Disregard the Philippines at your peril. A genuine Asian tiger, Philippines GDP has been rising at over 5% year on year and the Filipino peso appreciated a staggering 20% against the $USD since de-pegging just 12 months previously.

The capital city of Manila has fast become a major South East Asian trading post and is now competing against Bangkok as the commercial gateway to the East. The capital‘s central business district of Makati is where it’s all at. An ever increasing abundance of multi national corporations, established Filipino companies, 5 star hotels, exclusive restaurants and the world’s first 24 hour floodlit golf course for busy executives has made Makati the location of choice for serious global investors. The time is now, and the Triple Skyscraper represents best of breed city real estate, promising higher than average yields (circa 12%) and exceptional growth (off plan prices per m2 in this district have grown by 40% in the last 24 months).