COMPARABLE PROPERTIES IN THE AREA 1. BELVEDERE ORTIGAS CENTER Now Only 18,500,000.00 Address BELVEDERE ORTIGAS CENTER Floor Area367.42 square meters Date Updated1 day ago (posted January 19, 2010) CategoryCommercial and Industrial Establishments ClassificationFor Sale LocationPasig City, Metro Manila COST PER SQ.M IS PHP 50,351.00
2. THE ORIENT SQUARE, Emerald Ave, Ortigas. Office Condo Unit for Sale Unit is located in Orient Square along F. Ortigas Jr. Ave, Ortigas Center, Pasig. It is located in a high-floor and has a great view of SM Megamall and Mandaluyong. Orient Square is one of the premier locations in Ortigas Center. Floor Area (Unit): 103.29 square meters Floor Area (Parking): 12.25 square meters Asking price is Php60,000 per sqm. Building is PEZA Registered and has 100% Back up power. It is also equipped with fiber optic cables for high-speed internet connection. The building has 12 high-speed elevators to ensure quick service. The unit is best suited for small offices with around 10-15 employees. The provision for highspeed internet is good news for small BPO players that require such speeds.
3. ANTEL GLOBAL ORTIGAS CENTER, OFFICE CONDO FOR SALE Antel Global Julia Vargas Avenue, Ortigas Center, Pasig City corner unit Floor Area: 141sqm with parking Price: Php6M plus VAT.
4. PRESTIGE TOWER OFFICE CONDO IN EMERALD AVENUE
Floor Area (Unit): 63.13 sq.m Floor Area (Parking): 12.5 sq.m Price: Php68,000/sq.m. 5. THE TAIPAN PLACE EMERALD AVE, ORTIGAS, OFFICE CONDO FOR SALE
The Taipan Place Emerald Avenue, Ortigas Center, Pasig City Commercial/Office Unit SALE: Unit: 128.44 square meters Parking: 12.50 square meters With Tenant Price: Php7,871,080.00 6. THE ORIENT SQUARE EMERALD AVE ORTIGAS OFFICE CONDO FOR SALE
At Orient Square unit for sale for only Php60,300/sqm. The Orient Square unit for sale is a combined office condominium unit containing an aggregate area of 332 sqm, more or less plus a two-level parking slot of 12.50 sqm. It is fully-fitted with ready partitions setup by the current tenant. It is located on the southwest corner and has a great view of SM Megamall. The floor-to-ceiling glass wall affords a great view of the metropolis and creates a pleasing work environment. The building also enjoys high occupancy and premium rental rates as a Grade A office building. This trend is expected to continue with office space supply in Ortigas Center dwindling and no new units are in the immediate pipeline.
FINANCIAL ANALYSIS The market value of Grade A Office Spaces in the Ortigas Center is Php70,000 to Php80,000. At Php70,000 per sqm. The following are also available: Unit (Floor Area): 122.39 square meters Parking Slot (Floor Area): 17 square meters Price: Php7,526,230 With Tenant Unit (Floor Area): 122.39 square meters Parking Slot (Floor Area): 13.06 square meters Asking Price: Php7,526,230 Vacant
OPINION OF VALUE ON THE SUBJECT We would opine that the estimated cost for the subject will not below to Php65,000.00/sq.m. Therefore: 1,200.00 x Php65,000.00 = Php 78,000,000.00.
The Principle always required in the selling of property is “When the entire property will bring on the fair market after fair and reasonable efforts have been exerted to find a purchaser who will give the highest price that would, in all probability, results from fair negotiation where the seller is willing to sell and the buyer is willing to buy, neither one under abnormal pressure”.
