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 - 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 travelers and workers on short term contracts
Developed and managed by Pacific Concord Properties Inc (PCPI) - a blue chip developer and one of the fastest growing companies in the Philippines. PCPI won the Philippines Greatest Brands award in 2005
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 £33,000 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
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