Condo Hotel Pre-construction Phase in Baguio City For Sale

Business description

This condo/hotel project has already received approval from HLURB, city water and electric authorities. Website, brochures and flyers have already been produced. A pre-determined market exists. The database of clients and broker networks (local and international), architectural designs, blueprints, website, sales and marketing documentation, contracts, intellectual property and branding rights will be handed over to the successful buyer.

Project is approximately 900M Pesos in sales, 700M Pesos in costs, and 200M Pesos in profit. One of the world's largest hotel chains have expressed interest to run the completed project as a hotel in Baguio City. Buyer can select how many units to sell, with the remaining being leased out or run under the hotel management system. Ongoing revenue from the hotel and leased commercial units will far outway even the high profits of the initial project ROI.

Project will consist of 120+ condominiums, 25 office suites, and 12 prime retails establishments. Includes luxury loft units. Indoor heating swimming pool, world class gym, and the best amenities and services also included. Construction time is estimated at only 22 months, to coincide with the 100 years anniversary celebrations of the founding of Baguio City (late 2009).

The project is ready to go, save the final City Council approval once full funding has been secured (ie. a buyer). The CEO of the project will remain at the buyer's discretion, however a new contract will need to be drawn up between both parties.

Project investment thus far has been approximately 15M Pesos. With all IP, branding, brochures, website, client and broker database, city council and HLURB contacts, permits, architectural designs, blueprints, good will, sales and marketing documentation, and total product packaging, the developer is willing to sell the entire project for $1 Million USD, or 42 Million Pesos.

Full financials, documentation, designs, blueprints and key City Council and HLURB official contacts will be handed over upon 25% downpayment. IP and branding rights to the project name, website, and client/broker database will be handed over upon full balance payment.

This will be a landmark project in a beautiful city, long overdue, and eagerly awaited. Only serious buyer groups and investors need apply.

The Developer

Property information

Real Estate:

Real Property Included

Living accommodation:

The developer has leased premises in Baguio City, a 4 bedroom large house, which currently serves as a staff house and office for the project team.

Location:

Located next to Burnham Park, Baguio City, on the Kisad Road side. Two blocks from City Hall.

Other information

Expansion potential:

After the initial project profits or around 200M Pesos ($5 Million USD), there is a huge revenue potential from the hotel reservation system of retained units, and units entered by buyers into the rental pool, along with revenue from leased assets such as the retail/commercial establishments.

Competition / Market:

No high level, condominium tower in Baguio City, just low/medium rise projects. There are several hotels, but again low/middle quality. The international hotel chain interested in this project would list this project in their global hotel reservation system, upon agreement with the developer. The threats are simply lack of funding, thus the project may not be able to sell (produce revenue) as fast as it would need to build (spend funds). The reason for this is the initial construction phase calls for around 100M Pesos. Sales will eventually overtake costs, but initially it is unlikely enough sales could produce 100M Pesos in a few months).

Support & training:

CEO and project team are on hand for the duration of the project, and for as long as the new buyer wishes, at standard salary amounts.

Reasons for selling:

1. Lack of funding to date 2. Corporation principals are moving into Digital Media

Trading hours:

N/A

Furniture / Fixtures value:

$25,000

Inventory / Stock value:

$25,000

Contact the seller

For more information about this business for sale, click the Contact Seller button.

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