MANDALUYONG | Lancaster Suites Manila Tower 1 and 2 [res]

[lemuelf]

Unless they changed their policy overnight...the first 5 years is fully guaranteed by the developer. Have you gotten in touch with your agent lately to clarify?

Originally Posted by jaycanada

Thanks for the reply, but am just confused , kasi I just happen to have the Condotel Invitation Kit and Section 8.3 of Rental Agreement says that,

"Section 8.3 No Guarantee - The Agent makes no representation, warranty or guarantee of fixed quarterly or annual returns to the first party."

I am just guessing that the 600/sqm or 6% Annual ROI is based on forecast or projected income?

Hope you can clarify to be more accurate. Thank you.

[jaycanada]

The Condotel Kit is dated April 2012 and contains rental agreement that when signed will be notarized and both parties ( agent and condo owner ) wil be legally binded.

Thanks for all the information, I definitely need to get in touch with my agent and pacific concord sales management.

Originally Posted by lemuelf

Unless they changed their policy overnight...the first 5 years is fully guaranteed by the developer. Have you gotten in touch with your agent lately to clarify?

[LondonGirl]

Originally Posted by lemuelf

Unless they changed their policy overnight...the first 5 years is fully guaranteed by the developer. Have you gotten in touch with your agent lately to clarify?

Only clients who purchased the GRI or Guaranteed Rental Income fully furnished Condotel ready Suites receive the Guaranteed Rental Income for the first 5 years. Not all unit owners

[bambooever]

Is the 2nd Tower completed by now?

ANyone with the latest updates or pictures?

[ps3000]

Im also interested if there any updates here?

[Aziza1121]

[tita01]

ugly and design ng lancaster

[ps3000]

any ideas on when this will complete?

[manila is booming]

Originally Posted by Aziza1121

anu yung building na maraming lights

[sick_n_tired]

Sun Plaza, copycat of Daniel Burnham's Flatiron Building

[Ulidia]

Below is an extract from one of the Lancaster Press Releases:

Some announcements from our Marketing Team re Tower 2:
email dated January 13, 2006

Special Initial Offer Price And Introductory Terms Of Payment Prices
Quoted Are In US Dollars

The Initial selling price for Lancaster Suites Manila Tower II Units [Studio Type] will be Pesos 59,888 or $1,150.00 [more or less] per square meter and are 12% Tax Exempt [So obviously for Investors these are the better options to yield a higher ROI through the Condotel Income later on]. One, Two and Three Bedroom Suites will be priced at Pesos 67,075 or $1,288.00 [more or less] per square meter including Government Taxes. Terms of payment will be the same as Tower I ...

Completion/Turnover of units for Tower II will be 2009/2010. All payments will be made to the specific Lancaster Suites Manila Atrium Tower II Equitable PCI Bank Escrow Trust Account.


So completion of this tower was anticipated to be in 2009 / 2010 but, based on the photos above, it seems a long way off and that little, if any, progress has been made recently? Also, presumably no sign of progress on Tower 3?

Is this project (Tower 2) going to push through as the delay and lack of progress must raise concerns?

I always took an interest in this development because it was the first development that brought my attention to the Metro Manila real estate market as it was marketed quite heavily by a few UK real estate brokers (also stayed in the first tower in August 2008, shortly after it opened).

[tita01]

Originally Posted by sick_n_tired

Shaw Boulevard
23 March 2013

image hosted on flickr

latest/

[thinktwice]

Originally Posted by tita01

latest/

Thanks for the picture. Looks nice.

[thinktwice]

I bought 5 units in Manila. One in Tower I and four in Tower II.

For current people having units in Tower I, how long did it take to get your title after you paid 100%, including the turnover fees?

It's been *19 months* here...

I mean, in my country we get the title within 1 WEEK.

Thanks for the feedback, you can also PM me.

[rene_canlas]

Originally Posted by thinktwice

I bought 5 units in Manila. One in Tower I and four in Tower II.

For current people having units in Tower I, how long did it take to get your title after you paid 100%, including the turnover fees?

It's been *19 months* here...

I mean, in my country we get the title within 1 WEEK.

Thanks for the feedback, you can also PM me.

In my case, i believe it took about 3 months. 19 is TOO LONG!
I believe you have to chase after them to ensure it gets top priority. If you cant do it personally, then Get a man on the ground to do it for you.

[rene_canlas]

Originally Posted by Ulidia

Below is an extract from one of the Lancaster Press Releases:

Some announcements from our Marketing Team re Tower 2:
email dated January 13, 2006

Special Initial Offer Price And Introductory Terms Of Payment Prices
Quoted Are In US Dollars

The Initial selling price for Lancaster Suites Manila Tower II Units [Studio Type] will be Pesos 59,888 or $1,150.00 [more or less] per square meter and are 12% Tax Exempt [So obviously for Investors these are the better options to yield a higher ROI through the Condotel Income later on]. One, Two and Three Bedroom Suites will be priced at Pesos 67,075 or $1,288.00 [more or less] per square meter including Government Taxes. Terms of payment will be the same as Tower I ...

Completion/Turnover of units for Tower II will be 2009/2010. All payments will be made to the specific Lancaster Suites Manila Atrium Tower II Equitable PCI Bank Escrow Trust Account.


So completion of this tower was anticipated to be in 2009 / 2010 but, based on the photos above, it seems a long way off and that little, if any, progress has been made recently? Also, presumably no sign of progress on Tower 3?

Is this project (Tower 2) going to push through as the delay and lack of progress must raise concerns?

I always took an interest in this development because it was the first development that brought my attention to the Metro Manila real estate market as it was marketed quite heavily by a few UK real estate brokers (also stayed in the first tower in August 2008, shortly after it opened).

I was at the LSCC Annual General Membership Meeting today.

We were told that Tower 2 is expected to be completed "sometime next year"
Also, PCPI isn't going to build Tower 3 anymore. Instead the property at the corner of Samat St. and Shaw boulevard is going to be developed by Ayala.