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Chino Roces / WalterMart to Magallanes - A future hotspot?*

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Chino Roces / towards Magallanes - A Hotspot for future developments?

0If5Ah5.jpg

 

The view (from the sky garden of Beacon) looking down Chino Roces towards San Lorenzo Place, and Magallanes station.,, PB

Big developers have major land holdings along this road.

Avida added a new P 2 billion Land acquisition less than 12 months ago

 

7hUtHIf.jpg

Avida delivered two towers (in 2014? and 2016), in a project called Avida Tower San Lorenzo next to WalterMart.

Further down the street, CityLand and Vista (Trevi) also have also completed projects very near Waltermart and the Pasay Road PNR station.

 

act_31448.jpg

Cityland's two towers ("In God We Trust" is emblazed on the taller one near its top floor)

Studios within the Cityland buildings rent for something like P9,000 -10,000 monthly, the lowest rents on Chino Roces.

(Having said that, some properties "on the other side of the tracks" beyond the busy skyway may be cheaper.)

 

At the other end of Chino Roces, next to the MRT station at Magallanes is a nearly completed project called San Lorenzo Place.

 

San Lorenzo Place ("SanLo Place") is attached to Magallanes Station, though the passage was not yet functional last time I checked.

 

DMCI's Fortis Gardens will be launched soon. It is just across the street from San Lorenzo Place.

 

I have just seen a re-posting of an announcement from June 2016

- the report describes a substantial land acquisition by Avida (an Ayalaland subsidiary), midway between Waltermart, and Magallanes station

 

HVQAXCch.jpg

The land cost then just under P 2 Billion for 11,000 sqm of Land - if Avida builds 2,000 units there, then the Land alone will cost P1mn per unit (on average). Compare this, with the recent cost of about P2.5 million for 22sqm studios at AT SanLo - and you will see that Avida must have some big plans for this space. The will need to build a large project, and achieve a higher average price than the did for AT SanLo to recover their big investment.

 

I am not the only one watching this space. A New Thread about this Avida location was initiated a day or two ago on SSC :

>here: http://www.skyscrapercity.com/showthread.php?t=1992434

Does the appearannce of a thread mean that Avida will soon be announcing a new project there?

Asten near Guy Puyat has launched its final phase in the last month, and Avida may want to have a new Makati project on its drawing boards.

 

SMDC and Megaworld/Empire also have major landholdings very nearby that will (likely) be developed in the future

 

MAP ... V.1

E2DfWek.jpg

Light blue shows the walking path to Greenbelt from Chino Roces

 

Bigger Map - the southern slice

Makati.jpg

LINKS:

=====

WalterMart website : http://www.waltermart.com.ph/ : WM-cinema :

Avida Twr San Lorenzo :

Cityland Pasong Tamo :

Trevi, Lorenz di website : http://www.vistaresidences.com.ph/home/property/laureanoditrevi

PNR. Pasay rd. station :

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WalterMart - a mid-priced alternative to "expensive" Greenbelt and Makati Sq. "bargains"
img_1520282291.jpg?w=300

 

There's a Starbucks, a supermarket, and a cinema, among other businesses

hqdefault.jpg

Has a large Supemarket

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Avida Tower San Lorenzo / "AT- SanLo"

 

A0WXDDo.jpg

 

Avida Towers San Lorenzo ("AT SanLo") has a nice pool with an open view past SLEX towards Manila Bay ... PB

 

YHlDbXj.jpg

Bay View - Here's how the view looks from a high floor in Tower 2 - pool is below the highway on the Podium ... PB.

 

====

Avida San Lorenzo / "San Lo"

 

Latest SSC news : http://www.skyscrapercity.com/showthread.php?t=702832&page=39

 

I have been looking closely at a Buying opportunity ("below market") at Avida San Lorenzo

 

JmvgTzw.jpg : tvM7H5Y.jpg :

 

It seems attractive, because it is walking distance from Greenbelt ("just 500m") - see map below

 

XJbTdMm.jpg

AT Sanlo to Greenbelt malll is very walkable ... PB. It is also across the street from Pasay Station on the PNR.

 

PNR / LRT / MRT : map

 

979940174.jpg

 

zKzS5Ns.jpg

sitedevplan.jpg

 

Tower : Height Floors : Units* -------- : completion : St. : 1 BR : 2 Br : 3 Br :

No.1 - : 114m. 28 st. : x 24 = 700 : 2ndQ.2013 :

No.2 - : 107m. 25 st. : x 24 = 600 : 4th Q.2015 :

Studio Rental Ads, as listed on Rentpad
22.5 SM
12,000 : bb : 20th
16,000 : ff-: 19th*
17,000 : ff-: 17th
18,000 : ff-: 28th**
24.0 SM
15,000 : bb : 2nd
=======
*photos: http://rentpad.com.ph/long-term-rentals/makati/studio-condo-at-avida-towers-san-lorenzo-makati/77b17d1329
** http://rentpad.com.ph/long-term-rentals/makati/studio-condo-at-avida-towers-san-lorenzo-fully-furnished/1d0934e74

Renting AT-SanLo through Avida: (+632 988-2711 / M: +63917-867-2817, ask for "Jastine")

> see : Avida Leasing : location: AvidaTower-San Lorenzo ("AT-SanLo")

 

Old dated info on Tower 1 / Price list (dated 2012-13?)

Location Chino Roces Avenue, Makati City

Available for Sale Tower 1 (total of 2 towers)

Unit Sizes 22 – 66.3sqm Price Range Php 1.75 – 5.1M / that's :

Turn Over 1st Quarter 2013 : Studios in both towers were stated to be sold out back in 2012-13

 

+++ There also seem to be some others for sale +++

Avida Towers San Lorenzo Tower 1 - 9th Floor Corner Unit With Balcony
39 sqm : Asking PHP 3.7 million, that's PHP 94.8k per SM

(this looks cheap, even for the 9th fl. Is it an "old" ad?)

 

(From 2008): source

Avida Towers San Lorenzo along Pasong Tamo extension, the condominium boasts of 1,132 units in two towers.
Units cost anywhere from P1.8 million to P4.5 million, the company said.

 

(another price source):

 

UNIT PRICES

Tower 2
Size of units/Price range:
Studio: 22.08 – 28.48 sqm (1.8-1.9M)
1-BR : 33.81 – 47.64 sqm (3.0-3.8M)
2-BR : 52.50 – 66.30 sqm (4.7-5.4M)

Tower 1
Size of units/Price range:
Studio: 22.08 -- 24.98 sqm (1.8-1.9M)
1-BR : 34.44 -- 47.86 sqm (3.1-3.8M)
2-BR : 52.50 -- 58.66 sqm (4.9-5.3M)

===== > source

approximate pricelist: (2008 prices)

(8 units/flr) Studio (~22.5 sq m) - around Php1.8M : starts at Php 80k psm
(12 units/flr) 1 BR (~35.17 - 36.63 sq m) - Php2.81 - 2.93M

(2 units/flr) 2 BR (~52 sq m) - Php4.16mMThe first tower’s construction, which has 30 floors, will begin in the third quarter of this year. It will be turned over to its owners starting 2013. The project is a joint venture with Makati Greenbelt Palms Land Inc., owned by Chinese nationals.
The 8,070 square meter property, where the project is situated, was contributed by MGPLI.
Avida Land officials refused to divulge details about the partnership but said MGPLI will get the “equivalent units" for their property.

 

According to Dez Cruz, head of residential buildings of Avida, Avida Towers San Lorenzo is a haven for Gen Y-ers or young executives and professionals in their 20s and 30s who want to live in the most vibrant and dynamic community in the country. For these confident and tech-savvy individuals, purchasing a unit in this project along Pasong Tamo Extension will mean being just “a dash away from the corporate headquarters of most of the Philippines’ top corporations, major business establishments and support services.”

After hours, Avida Towers San Lorenzo’s superior location will allow these individuals who work hard and play hard to freely enjoy the leisure options available at the Greenbelt and Glorietta malls without the hassle of a long commute home.

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Pasong Toma Tower (Cityland) - For very Tight Budgets

 

04483864_3eee1e3466c306f4aa857f854ee4720

 

Room shares at Cityland can be very cheap - half of P 10,000, and even less

 

044800861_cdde3b469fa97c9a51b35377fe5f33

This would be one of the cheapest shares

 

Cityland Calle Estacion (Cityland Pasong Tamo-Estacion) is located along Calle Estacion, just across the PNR Pasay Road Station.
Calle Estacion is the street behind WalterMart (Pasay Road corner Pasong Tamo)

It’s Upper and Lower Ground Floors house several commercial establishments.
It’s just 12 minutes away from the Central Business District of Makati (by car) or:
1 jeepney ride to EDSA MRT Magallanes Station / Pasong Tamo Extension / South Gate Mall

 

WHY?
* Living near your place of work saves you both time and money.
* Tired of eating fast-food? Cook your own food!
* Tired sitting in traffic? Enjoy more free time (since you no longer commute) to watch your favorite Cable/TV show, DVD, etc.
* Working late? No problem! Your bed is just a few minutes away!
* You won’t feel guilty sleeping a few minutes more in the morning since you know that your office is nearby.

 

Share arrangements go from P 3,500 to 5,000 per month and higher : link

 

But not units are all like that inside Cityland - here's a higher end unit

 

cityland_pasong_tamo_tower_chino_roces_a

 

3 BR, 2 ba , High floor and 117 sqm, was offered at P 7.8 million / 117 = P 66.7 psm (April 2016)

 

A newer ad from 2017 showed a 40 sqm unit for sale at P2.8 million = P 70 psm

=

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TREVI, Laureano Di - three towers from Vista Land

 

ZCmpxlQ.jpg

 

When this was launched back in 2012 or so, it had a different look at lower prices

 

There's a 2012 advert showing 20 Sqm at P 1.64 mn - that's a historical price P 82k psm, five years ago

 

Pre Selling Makati Condo Near Don Bosco Makati
Makati, Metro Manila - For Sale - Condominium - 20 m² - 1 bedroom - 1 bathroom
pre_selling_makati_condo_near_don_bosco_
Original Pricing was very low: ₱ 1,643,400 - in July 2012 (5-years ago)
Pre-selling Makati condo near Don Bosco Makati. An inner city mixed-used condominium development located in Pasong Tamo, Makati City. It is a 3-tower project with commercial areas at the ground floor and four levels of parking. Situated near major thoroughfares, it is easily accessible...

24 Jul 2012 in iProperty.com

 

Now the three towers are (nearly) sold out, and the buildings are completed with tenants moved in, and a few keys still being handed out

 

A friend of this site's founder has some units for Rent there:

=

FLATS available FOR RENT at Trevi, on Chino Roces Avenue

ixIBuTU.jpg

 

Laureano di Trevi Towers

 

Location : 2214 Chino Roces Ave, Makati

 

We have a number of units in Laureano di Trevi Towers located along Chino Roces Avenue (formerly Pasong Tamo) between Wilcon and Mitsubishi in front of Don Bosco near Waltermart Makati.

It is also near Magallanes MRT/EDSA, near Skyway/SLEX exit and PNR. The Makati CBD is also a short distance away. Our units are brand new (never been used), with new appliances and furnishings as well.

The expected monthly rent is 19K per month* (negotiable) inclusive of association dues. Minimum stay is 3 months.

I'd be glad to show you around the area, and we can even have coffee at Starbucks at the ground level of Laureano di Trevi Towers so we can talk more about these.

Thank you,

John Prado

contact@pradojohn.com
+63 917 566 8332 (Globe/Viber/WhatsApp)
+63 998 5544 718 (SMART)
+63 2 504 5008 (Landline)

=====

* Subject to change

=

BTW. Tower 1 has a somewhat different (darker) style than T2/T3, and may have been built by a different contractor

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PNR Pasay Road station - A long term positive?

 

0_DSCF3783.JPG

Train at the station with Pasong Tamo and Trevi in the background / source

 

Residents in nearby Condos may not like the noise, especially early in the morning.

But being in the immediate proximity of a PNR station could be a long term positive, especially if/when

the anticipate upgrade of the PNR railway occurs

==

> see: RAIL thread: http://www.greenenergyinvestors.com/index.php?showtopic=20586

 

And from the opposite side, looking North

800px-PNR_Pasay_2011.jpg

Pasay Road station -

is a station on the South Main Line ("Southrail") of the Philippine National Railways. Like all PNR stations, this station is at grade. The station is located on Estacion Street (also known as Calle Estacion) in Barangay Pio del Pilar in Makati, making it only one of two stations (the other is Santa Mesa) to have its own access road. It is named after Pasay Road, the old name of the Makati section of Arnaiz Avenue.
The station is the tenth station from Tutuban and is one of three stations serving Makati, the other two being Buendia and EDSA. It is the only station in Makati, and the only station between España and Alabang, which serves intercity trains, being a stopping point for the Bicol Express and Mayon Limited.

==

> Wiki: https://en.wikipedia.org/wiki/Pasay_Road_(PNR_station)

 

Room for growth at Pasay Road - future expanded station? ... PB.

 

O3I7Etn.jpg

 

Right next to AT SanLo (and behind Waltermart) is a big patch of land across Calle Estancia which is said to be owned by San Miguel Corporation.

Might the existing station be expanded to cross the street and provide a better platform for connecting to Makati?

 

There have been reports that the PNR railway will be dramatically improved, as biillions of US$ are spent to extend it.

Can be the train carriages left looking like the "monkey cages" they are now?

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San Lorenzo Place from Empire East : "SanLo Place"

 

iu2gADH.jpg

SanLo Place, where the train comes to the door - and you can usually get a seat, when headed North, towards Quezon City.

San%20Lorenzo%20Place%20FLIER%20FINAL%20

SLP offers its own shopping area and some attractive amenities ... Expected turnover dates

698ec62b255ec4427776ab12c851cbd71ce05960 : 4219809.jpg?516

 

Phase 4:

369510_orig.jpg

Floorplan

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Laureano di Trevi -- "what a difficult (to write and pronounce) name" -- only Italians will be able to spell (and pronounce) that right --

 

There is 1 rush sale and 2 foreclosed units in this building.

 

The "rush" sale is for about PHP120K per square meter:

https://www.olx.ph/item/rush-sale-one-bedroom-condo-at-laureano-di-trevi-tower-ID7Q7BR.html?h=0e563d1a81

 

The 2 foreclosed units are for about PHP110K per square meter

https://www.olx.ph/item/foreclosed-condominium-unit-in-laureano-di-trevi-tower-1-makati-city-ID7I2dv.html?h=0e563d1a81

 

 

It is quite amazing that this developer (Vista Land) has raised his price so much since the launch,

because neighboring San Lorenzo Place Emp/East price was hardly increased and it has (much) better connections.

 

As an aside, many developers are now building smaller units to compensate for the increased land acquisition costs,

SMDC coast residences has 24sq meter units for the same price as the 27sq meter Breeze residences units,

and the 27sq meter Breeze units were the same price as the 30 sq meter sea/shell residences units about 5 years ago,

so the unit size is getting smaller for the same amount of pesos. (you're getting less for the same amount)

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Laureano di Trevi --

There is 1 rush sale and 2 foreclosed units in this building.

 

The "rush" sale is for about PHP120K per square meter:

https://www.olx.ph/item/rush-sale-one-bedroom-condo-at-laureano-di-trevi-tower-ID7Q7BR.html?h=0e563d1a81

...amazing that this developer (Vista Land) has raised his price so much since the launch...

 

The high floor corner unit at Trevi sounds interesting.

As you point out, there's a big gap between the recent price asked by the developer (P 5.3mn / 31 = P171k psm).

and the "rush sale price" : (P 3.7mn / 31 = P120k psm.

(I am assuming your 31 sqm estimate is correct - maybe that is the floor number rather than the size?)

 

834586795_3_644x461.jpg?rev=004&bucket=1

Layout*

 

From my perspective, the owner of the Trevi unit has made some decorating errors (yellow ceiling, dark furniture). which may depress buying interest in the unit somewhat - and also the price that he/she may achieve.

 

834586795_10_644x461.jpg?rev=004&bucket=

Yellow Ceiling

 

Obviously, these can be fixed with a modest amount of investment to make the unit more livable, and easier to rent out.

 

I do like some of the units at SanLo Place (SLP), especially the corner units there. But some people have complained about the 2BR units with a living room hemmed in by the bedrooms. with no windows of its own. Getting AC into the LR has also been a challenge for people living there (according to comments on SSC.)

 

Still, I like the connection of SLP to the Magallanes station, and I see more positive transport developments can come around Magallanes and EDSA PNR station, which is a very short walk from SanLo Place. I am also watching for the launch of DMCI's Fortis Gardens project, across the street from SLP. One of the Fortis Gdns towers is said to be an office, which helps to bring more jobs to the area, making it a more "balanced" location, and helping to underpin future market values

=====

* I found the floor plan for Tower 1 ... PB :

DB6aWRN.jpg

 

Internal measurements on Tower-2 and Tower-3 may be larger. Tower-2 is the tallest of the three buildings

 

2832188_orig.jpg

 

I looks like the corner units in Tower 1 are just 24 sqm. + 7.2sqm balcony = 31.2 sqm.

I you use 24 sqm, as the actual size, you get some rather "fancy" prices :

 

Selling Price ------ : 24.0-sqm : 31.2-sqm : -P350k /24 :

Developer : P 5.3mn : P220.8k : P169.9k : 206.3k psm :

Rush Sale : P 3.7mn : P154.2k : P118.6k : 139.6k psm :

 

I won't necessarily be rushing to buy at these prices - How useful is that balcony?

I reckon a 7sqm balcony is worth maybe P350k /7 = P50psm or less to me

22 sqm studios at AT-SanLo can be had for P2.5mn (P113.6 psm) or less.

So, if you pay P350k for the balcony and P110k psm for 24sqm, you get to about P 3.0 million.

Above that, AT SanLo might look cheaper - this is just one guy's opinion.

 

Here's an old marketing video

I never saw the girls with the violins in the neighborhood.

This one has better detail on the amenities, etc.

 

 

 

 

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Metro Manila condos shrink to ‘shoebox’ sizes
By The Manila Times on January 17, 2016

According to online property portal Lamudi Philippines, 42 and 41 percent of Metro Manila’s for-sale and for-rent condo inventories have floor sizes measuring 50 square meters or less—an apartment size many would consider as “shoebox.”

 

The listing website attributed the trend to the scarcity of develop-able land in Metro Manila, caused by the continued rise in population in the national capital region.

“While it is not completely gone, local real estate is barely keeping up with the region’s continued increase in population, which has been the highest in the entire [Philippines],” Lamudi said.

It noted that while the National Capital Region accounts for 12 percent of the country’s population, it only occupies a mere 0.21 percent of the country’s total land area.

“This has resulted in the current trend, where vertical developments are mostly what is built in the metro, as high-rises do not require copious amounts of land,” Lamudi pointed out.

The shoebox trend has started about a year ago, though

. . .

The condo sizes, Colliers said, ranged from 18 to 90 square meters. Some condo projects outside the CBDs, it added,

have even been reported to sell units no bigger than 15.5 square meters.

==

> More: http://www.manilatimes.net/mmanila-condos-shrink-to-shoebox-sizes/239856/

 

"shoeboxes" - haha. That's appropriate for PH when...

+ A famous former first lady was known to have a fetish for shoes, and

+ One of the largest developers in PH used to be called Shoe Mart

(just kidding. If anything, the space issue may be worse in HK, where prices are far higher.)

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Launch Coming Soon

DMCI Homes Upcoming Project in Makati near MRT Magallanes Station!

FORTIS GARDEN RESIDENCES
17842078_1504817482896170_983068916_n-1.

Site Location:
Fortis-Garden-Residences-location-map-pa

Still waiting for the announcement regarding the Launching Date!

For details, please visit: http://www.dmci-realty.com/fortis-ga...-makati-condo/

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(The healthy Rental take-up at Trevi and AT-SanLo bodes well for investments on Chino Roces.

After Beacon and SanLo Place, it may be some years before the next Tower on ChRoces > Magallanes is completed)

 

STRONG Rental demand reported .. for affordable units

 

A "Landlord's Market" on Chino Roces/ Pasong Tamo

 

ZCmpxlQ.jpg

 

Trevi Towers, viewed from Pasay Station, on PNR rail (Cityland's building is on the left of the photo)

 

I posted this yesterday on our Viber chat: "Whatta a surprise - just met with a guy managing dozens of rental units at Trevi Towers on Chino Roces. He gave me a very bullish report on Rental demand.

 

"A Landlord's Market": that's what he called it. He could see I was surprised, so he showed me a spreadsheet with his units on it. I think he had a few dozen units ... all are the small 1br - I think they are 22 sqm + 2 sqm balcony. Near turnover available from him would be about June 7th, Most are rented out as furnished at P18k - 19k. Some were rented bare at P13k-14k, with the LL paying the association fees. With no current availability, he has a waiting list. Some people have been waiting for weeks.

 

featured-image47.png

 

More good news on Rental demand in Makati's CBD-Fringe area. The leasing manager at Avida Towers San Lo has confirmed to me that she is also seeing strong demand, just as I have heard reported at the nearby Trevi Towers. AT-SanLo is next to Waltermart on Chino Roces, and Tower 2 with 575 units was turned over last year. Avida Leasing manages over 250 units in the two towers. At the moment they have Leased out 250 units under their management, and only 10 units (3.8%) are vacant right now. Demand is healthy and rents are stable.

 

> see : Avida Leasing : AT-SanLo

> Rentpad- AT SanLo : https://rentpad.com.ph/places/avida-towers-san-lorenzo/c3eb0d8b10

 

I asked her if she was concerned about people switching over to Beacon, when Tower 3 with about 1,000 units was turned over in the very near future. She said that she expected to lose a few tenants from the (more expensive) 2BR units, but generally she was not too concerned, because asking rents at Beacon were expected to be higher, and most tenants were happy with the (lower) rents they were paying now at AT-SanLo. The Avida Leasing website shows: 0x bare studios (22-24sqm) offered at P12,000-13,000 monthly (in the past, but not right now), 3x semi-furnished or furnished studios at P16-19,000; 4x furnished 1BR units (about 33-38sqm) offered at P22,000-30,000, and 0x furnished 2BR units (52 sqm) offered P35,000-40,000.

 

This is very encouraging, since both Trevi and AT-SanLo completed new towers in 2016, and both of these have already been absorbed without any significant drop in Rents. Beacon's release may keep rents from climbing. But once the new units have been absorbed over the next 6-12 months, there could be some upwards pressure on rents in the Waltermart/ Chino Roces area because it is walking distance from Greenbelt and near a hub of jeepney traffic. After Beacon, there are no new towers being completed in the immediate area. San Lorenzo Place is a jeepney ride away, but not an easy walk, and it is less convenient for those who want to visit the Greenbelt malls

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Beacon - has three Towers, and is on the Corner of Chino Roces / Arnais (Pasay Road)

 

k8FFAd4.jpg

 

Beacon Tower 3 (on the left) is new, and should be turned over starting in the first half of 2017.

 

There are almost 1,000 units in Beacon-3, "Amorolo Tower", and so it may help to hold back any increase

in rents in the more affordable properties nearby, and may push down rents in nearby more expensive propertie.

=== ===

 

There is already a thread about Beacon on Mak-Prime

> http://www.greenenergyinvestors.com/index.php?showtopic=21363

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The Other Side of Arnais Street (going North)

"After Beacon and SanLo Place, it may be some years before the next Tower on CR > Magallanes is completed"

 

Having stated that, there is a new project which is maybe five minutes North, on Chino Roces.

In the opposite direction towards Guy Puyat / Bendia there are two towers under construction by Federal Land

 

835382620_1_261x203.jpg?bucket=10

Paseo de Roces : two towers

 

Front Tower

Federal-Land-Paseo-De-Roxas-FP1.png

 

Map

smDdg9k.png

 

Looking South down Amorsolo, past Paseo de Roces, with Beacon in the distance ... PB.

At June 4, 2017:

aLgvHQJ.jpg

 

vekrdOa.jpg

Paseo de Roces, is behind the Mile Long building, when viewed from Amorsolo

 

Amorsolo Street is a minor north-south roadway that runs parallel to Chino Roces Avenue in Makati, Metro Manila, Philippines. The street starts inside Barangay Dasmariñas, continues north to San Lorenzo Village with some discontinuities and into the western edge of the Makati Central Business District where it ends at the junction with Ayala Avenue. The street is named for renowned Filipino painter and national artist Fernando Amorsolo.

==

> https://en.wikipedia.org/wiki/Amorsolo_Street

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MORE CONVERSIONS Coming?

 

wilcon%2Bdepot.png

Wilcon has another building sandwiched between Cityland and Trevi.

 

These stories are Old news now, but the pattern is that the purpose(s) of many properties on Ch-R may change in the future.

 

Wilcon Builders to convert some existing stores into BPO office space
BusinessWorld Online Edition-22 Mar 2015
... and office space at the 15-storey building in Chino Roces Avenue in Makati City have already been pre-committed as of last week, property ...
An expanding retail hub for furniture, art, lighting and home décor
Inquirer.net-5 Aug 2016
Nestled in a warehouse complex on Chino Roces Avenue in Makati City, La Fuerza Compound is an expanding new retail hub for furniture, art, ...
=== ===
wilcon_it_hub_541018.jpeg : wilcon_it_hub_541019.jpeg :
Wilcon's Larger building is next to San Lorenzo Place, and has BPO's inside
Its first venture into office leasing was in January through Wilcon I.T. Hub, and office space at the 15-storey building in Chino Roces Avenue in Makati City have already been pre-committed as of last week, property consultant Jones Lang LaSalle (JLL), the exclusive marketer of the project, said in a statement.

“Wilcon is exploring other properties in its portfolio of… 33 locations nationwide, which it can redevelop to cater to the fast-growing office market,” JLL said in the statement.

“By offering spaces above their retail outlets in strategic locations, they are achieving the highest and best use of their property.”

The fast take-up of Wilcon I.T. Hub was attributed to its 3,300-square-meter (sq.m.) floor plate, which is “rarely seen” in an industry that has an average size of 1,500 to 3,000 sq.m. for a traditional BPO building.
. . .

Nestled in a warehouse complex on Chino Roces Avenue in Makati City, La Fuerza Compound is an expanding new retail hub for furniture, art, lighting and home décor.

Newest on the block is Designa Italia, a high-quality Italian furniture store that carries a wide array of leather sofas, living room occasional tables, dining tables and chairs and bedroom sets

=== ===

 

I have heard that the La Fuerza Compound is now owned by Megaworld - and is likely to eventually be developed into a condo

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Comments on AT-SanLo and Avida... From another thread here:

 

Well it was reported by Avina on SSC that tower 2 of Avida Towers Turf in BGC was recently launched and

the price is approx 200,000 per square meter. At least I could understand Federal Land getting into

PHP200,000+ per square meter flats -- Federal Land tries to be on par with Megaworld/Alveo --

but Avida??? -- Many commentators say they deliver sub standard units with too small windows,

an almost non existent kitchen and a bathroom with tiles in the shower that stop halfway the height of the walls...

. . .

Are Avida's flat liveable?... Some people live in these flats... I think so, but they require substantial

investment, like a normal kitchen, more tiles in the shower area, more electric wiring... This will no doubt

add greatly to your cost.

- ECB

 

YOU cannot Sell these flats at P 200k - maybe Avida can, but a reselling buyer cannot get that much.

 

I bought an Avida unit two years ago for P95k psm (by paying cash & getting a 10% discount - so P105k, was then the "normal" price.)

 

And a friend of mine is seriously considering buying an Avida unit at ARCA south, for something like P130K per sqm. (+23.8% higher than P105k in 2 years)

but I would not be happy to pay more than that.

 

=========================

7hUtHIf.jpg

Avida Towers San Lorenzo
Avida Towers San Lorenzo is a two-tower condominium development that rises to 29 stories. Developed by Avida Land, Tower 1 was (offered for sale) in 2008, while Tower 2 was (opened for sale) in 2012. With the aim to provide residential units that are spacious and affordable, Avida Towers San Lorenzo should be a rare find for any value-seeking resident. Tower 1’s offerings include studio-type units with sizes of 22 to 25 square meters...
Visit Chino Roces thread - ATSanLo is next to Waltermart
Visit Development page

=========================

 

IMG_0141.jpg

This sparsely furnished studio in AT-SanLo is asking P 16,000 monthly

- the cheap ones go fast. Last time I checked, Avida leasing had leased out all but 10 of its 260 units in AT-Sanlo. That leaves normal turnover.

 

BTW, I am happy in my SanLo small unit. It suits me better than a hotel room - maybe I should take a photo - it is much more live-able than the above one.

 

Because it is only a 12 minutes walk from Greenbelt mall, I do not mind slightly small windows.

I have invested a modest amount of money in extending the kitchen counter, and adding a nice mirrored wardrobe to make the flat brighter.

 

When my (larger) unit is completed at Kroma, I will probably move there, and will then either SELL or Rent out my small 22 sqm Avida studio.

I reckon, if I can net P 120k per sqm (P2.6mn) or more by selling, I will be very happy. The units have all been turned over, and are renting well.

There seems to be an almost unlimited rental demand for cheap flats, a short walk from Greenbelt, so a buyer can be found at P 2.6mn or more.

 

One thing I found very surprising as that Avida was reported to have bought a large plot of land, 3 minutes walk from where I live at P 2 billion pesos.

If they construct 2,000 units there, which seems like a lot for me - then those units will have to be sold at P150k or more, to include an average of

P 1 million just for the land cost/

 

I started a thread on the area, when I read about that Avida land purchase:

Visit Chino Roces thread - focuses on the area between Waltermart and Magallanes MRT station - where San Lorenzo Place is located.

==

> source: http://www.greenenergyinvestors.com/index.php?showtopic=21244&page=2

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City Gate will be a likely catalyst in inspiring more new development in its immediate area

- & with knock-on effects in other areas of Makati (like Chino Roces - here's why):

 

The excitement of high-end development at City Gate, AFT & Kroma, may be causing people to re-evaluate what can be done with their older, shorter buildings

on the Northern end of Ayala Avenue. The developer of the project below is rumored to be Ayala Land. A tight office market is helping.

 

jINNWnQ.png

SSS Building, Ayala Ave, and Ruffino St. was built in 1966 (51 years ago) and has been occupied by the PDIC.

 

Soon to be evicted ? (at PDIC offices)

 

Philippine Daily Inquirer / July 05, 2017

The employees of Philippine Deposit Insurance Corp. probably thought they had seen the last of their former office—a decrepit structure along a flood-prone section of Chino Roces Avenue in Makati City—after they moved to a “better location” a few years ago.

 

This better location, the Social Security System building on the corner of Ayala Avenue and Rufino Street in Makati City, isn’t too swanky either since it was built in 1966 and is not a modern high rise, but is classified as a “class B” building.

But it does have the benefit of being located in the country’s most expensive address for offices, and… well… employees never have to contend with anything worse than puddles even during heavy downpours.

Unfortunately for the officers and staff of PDIC, the new leadership of the SSS has better ideas to realize greater value from this expensive piece of real estate.

Biz Buzz learned SSS was eyeing a joint-venture deal with a yet-to-be-determined partner to redevelop the 12-story structure into a gleaming high rise building that will maximize the investment value of the property.

 

And the prospect of building a high rise on the spot is giving SSS investment officials wet dreams because—thanks to the relatively large size of the property—any building that will be built on it can probably have 50 stories (or more) of sellable or leasable space (the PBCom Tower across the street has 52 stories aboveground and seven basement levels sitting on a smaller footprint).

 

Of course, the most ardent suitor for the right to partner with SSS and develop the property is none other than Ayala Land, we hear, because well… it’s its home turf, Ayala Avenue, after all.

But Biz Buzz learned SSS is playing coy and is entertaining other suitors who may be willing to give it a better deal than the blue-chip Ayala firm. No one knows which way the new SSS leadership is leaning, but the chair of the private pension fund wants nothing less than an “iconic landmark for its members as a sign of stability,” we were told.

. . .

pdic.png

On the upside, the old PDIC building is being refurbished, inside and out, so that the returning staffers won’t feel like rejects, given the important role they play in bank regulation and supervision.

And most importantly, the Makati City government has repaired the problematic drainage along Chino Roces, so hopefully, no more flooding. That’s something to look forward to, maybe.

 

The PDIC's old building on Chino Roces,is near Don Bosco, south of Waltermart.

120362.png
120363.png
No doubt, many PDIC employees would rather stay on more swanky Ayala Avenue
Near Chino Roces address is a more informal, less corporate-ized working environment, which could be a future hotspot,
It is only 1 lot away from Avida's P 2 Billion land purchase.

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Co-Working Space(s) in Molave Building

 

molave-building.jpg?resize=600%2C450

 

One of the co-working spaces in the Molave Building is run for the Mozilla community

 

DSCN9296-600x450.jpg?resize=600%2C450

 

Mozilla Community Space Manila (MozSpaceMNL) is located inside Palet Express in Makati City:

 

Q: Can I drop by the Mozilla Community Space Manila at any given time?
A: NO. MozSpaceMNL is managed by local Mozilla Reps. They are all volunteers and have their daytime jobs. Most of the MozSpaceMNL activities are held on weeknights and on weekends. MozillaPH events may require pre-registration. Be sure to check the Events Calendar from time to time.

 

Roof Deck, Molave Building, 2231 Chino Roces Ave. (Pasong Tamo),

MAP & Directions:

> http://www.mozspacemnl.org/where-is-the-mozilla-community-space-manila-located/

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https://www.facebook.com/kpacelo?hc_ref=ARTUZUvz-nV2-tWh5ooab-3T1nopfeGnkYPtyYpXOcuIbGtnz5dlc1PEY2HEvfzgTEI&pnref=story

 

Anecdotal report from a seller (Kelvin G Pacelo) who can't distinguish between the developer price and the market price.

-- posted july 24th on his facebook page --

 

++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++

 

Less than a year ago, one of my Tita abroad decided to get one unit in San Lorenzo Place, Makati. (Empire East Project)

The Total Contract Price was 3.1 million pesos. Today, the same unit is valued more than 4.2 million pesos. That's a whooping 1 million increase in less than a year!

I'm happy that all of my clients are making money with my help. Really, making money by helping others make more money is a fulfilling career! 1f44f.png I'll never leave this job!

Real estate is one of the easiest and safest way to earn money. All you need to do is wait, wait, and wait as your money grows exponentially.

Also, this is one of the aftermaths of PDutertes Build, Build, Build program. We have a great nation leader, people! Philippines' economy is growing fast!

---

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Hi

 

 

There is another reason why I like the Chino Roces area, -- it is its proximity to the Bay Area.

And therefore these units are also an indirect bet on the rise of the Bay Area as a major commercial/lifestyle hub.

For Mandaluyong/Pasig I like their proximity to BGC (North)

 

One area I don't like is the Circuit Makati/Century Mandaluyong/Kai Garden area, because there is no neighboring

rising business district. Quite surprisingly Kai Garden from DMCI is now launched at around PHP100,000 per square meter,

this is a first time that I see such high prices for their projects in a location that is slightly inferior to places like Flair/Sheridan/Brixton

because they are much closer to BGC. Congratulations to early investors in Flair/Sheridan projects who got their units at

around PHP55,000 to PHP65,000 per square meter depending on the payment plan.

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Cheap Prices

 

Hi

 

There is another reason why I like the Chino Roces area, -- it is its proximity to the Bay Area.

. . .

Congratulations to early investors in Flair/Sheridan projects who got their units at

around PHP55,000 to PHP65,000 per square meter depending on the payment plan.

 

I am told that it is possible to buy in the secondary market:

 

Cityland, Pasong Tamo flats, on Chino Roces, between AT-SanLo and Wilcom

- at about P 50k - 60k per sqm

The two buildings were completed in 20-- and 20--

 

04483864_3eee1e3466c306f4aa857f854ee4720

Pasong Tamo are the rusty-red, and blue buildings.

Avida Towers San Lorenzo, Tower-1, in the background was then under construction (completed 2015?)

 

BTW, how do you get easily to Manila Bay from there?

I have used public transport and jeepney's, and it seems to be a 2-3 leg journey.

Maybe that will change in future.

 

Right now, it is easiest to take a taxi

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More Resale offers, from the secondary market

 

XX1bd1c.jpg

Don Bosco with its sports field & Trevi's Three towers are on the right ....................... : Avida San Lorenzo, Tower 1 is in the center

 

Trevi

http://www.greatancheta.com/2017/08/1-bedroom-32-sqm-at-laureano-di-trevi.html

Laureano di Trevi Towers, Vista Residences, across Don Bosco Makati
1 Bedroom : Unit area: 32 sqm
Asking: Php 2.8M

That's about PHP87,500 per square meter, not bad.

 

Avida SanLo

http://www.greatancheta.com/2016/11/condo-for-sale-studio-tower-1-avida.html (avida san lorenzo)

Avida Towers San Lorenzo, Tower 1
Studio : Floor area: 22.08sqm | Semi-furnished
View: Amenities, Makati CBD, Waltermart
Selling Price: 2.3M (Save 200k)

which is about PHP104,500 per square meter.

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What's up with Empire East?????

 

Why are they able to charge almost 80pct to 90pct per square meter more than similar Avida San Lorenzo/Trevi??

 

For the 38sq m RFO units, the selling price is 5,560 Million excl VAT, and VAT is 12pct,

but they give a 10discount, so the price is close to 5,6 Million incl VAT.

That s approximately PHP148,000 per square meter, and this is not even the center of Makati.

This is extremely expensive.

And what I find strange. They are holding lotteries. So many buyers there appear to be.

Or is this just another marketing trick???

 

 

+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++

 

https://www.facebook.com/search/top/?q=empire%20east%20brokers%20network

 

 

THE LONG WAIT IS OVER!! Empire East will release newly opened units in SAN LORENZO PLACE tomorrow, August 25. Drawlots will be held in our Makati Head Office at exactly 10.30am. Registration starts from 9am up to 10am only.

TOWER 2 - RFO Units (2BR - 38sqm)
SLP T2 9P
SLP T2 12G
Selling Price (VAT-Exc.) P5,560,000.00
TERM: 5% DP - 15% in 24mos - 80% Balance thru Cash or Bank Financing

TOWER 3 - for turnover on 2018 (4Q)
2BR - 38sqm:
SLP T3 10E
SLP T3 11B
SLP T3 15E
SLP T3 30B
Selling Price (VAT-Exc.) P5,256,000.00
Term: 20% in 36mos - 80% Balance thru cash or Bank Financing

2BR - 44sqm:
SLP T3 32C
SLP T3 19D
Selling Price (VAT-Exc.) P6,078,000.00
Term: 20% in 36mos - 80% Balance thru cash or Bank Financing

We offer 10% PROMO DISCOUNT for all these units. For more details, kindly contact our Broker's Hotline at 0917 858 4823.

Guidelines:
1.) Reservation Fee must be in the form of Cash (25k).
2.) Transferring of unit is not allowed.
3.) Change name request shall not be entertained.
4.) Post-Dated Checks must be given to qualify for move-in in RFO units.

HAPPY SELLING!!

 

++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++

 

A similar situation exists for their Boni/Pioneer Woodlands projects, where the average preselling price per square meter

was recently raised to around PHP122,000 per square meter, while neigboring Gateway Garden Heights,

a Robinsons Land development, has ready for occupancy units costing approximately 75K to 80K per square meter.

 

https://www.facebook.com/Robinsons-Quality-Condos-1676280229352936/?hc_ref=ARSHPgYzfpF68Uvvt_RQvO-hew_3L_h9XaCL5VeG5DezZYCAeb-ZzRUA2pIgoZVMWJA

Available Units:

52sqm 3.6m
54sqm 3.8m
73sqm 5.3m
87sqm 6.2m
91sqm 6.6m

 

+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++

 

Note: this is a much better deal than Kai Garden Residences IMO.

 

+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++

 

A direct MRT connection can justify a 15 to 20pct premium to the market price, but not 60pct to 70pct higher as we are

seeing now.

 

Emp East appears to be a well oiled marketing machine. As always, selling these units on the secondary market

-- with a decent profit -- might become a little problematic

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For the 38sq m RFO units, the selling price is 5,560 Million excl VAT, and VAT is 12pct,

but they give a 10discount, so the price is close to 5,6 Million incl VAT.

That s approximately PHP148,000 per square meter...

 

Same old story, I reckon:

-> Crazy primary market prices BEING SOLD HARD, while people ignore secondhand bargains

 

Battling Lies, market, and Spin - is what this website is all about.

(some people appreciate it, but not as many as could & should benefit by using the info)

 

=====

Question is:
WHY do people continue to buy from Developers when such big discounts are available in 2nd market?

 

Possible answers:
=======
1. People prefer to buy from developers, because the marketing staff is aggressive in pursuing the business
2. People cannot buy unless they can use the developer's financing schemes - ie the don't have cash, or access to bank finance
3. Potential buyers are scared off by "unknown risks" in buying in the secondary market - they don't know how to do it
4. Buyers are simply unaware of the bargains they can get in the secondary market

. . .

E: Yes M, they thought that buying form the developers are quite easy because of the ready financing scheme.. Second, sometimes, they are thinking that the reseller of the unit in the secondary market is getting big profit .

=====

> from Innovation thread, post#2: http://www.greenenergyinvestors.com/index.php?showtopic=21656

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