PHILIPPINES, CORON ISLAND – BEACHFRONT LOT WITH COTTAGES FOR SALE

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LOCATION:
The beachfront property for sale is located on a 1 km long sunset facing white beach on the island of Coron (Busuanga) Palawan Philippines. The property is easily reachable within 1 hour transport from F.B. Reyes
Airport of Busuanga (USU), the road leading to the property is almost entirely paved and only the last 2 km are dirty road.


DESCRIPTION:
The property for sale in the Philippines, Coron island, has an area of 31.000 sqm (3,1 ha) with a stunning 120 meters white beach frontage, the lots constituting the property are titled and owned by a Domestic Corporation. The property has a water system supplying water all year round and there is also a source of water inside the property as a backup. Cellphone signal is available on the beach. There are a lot of coconut trees and other trees on the property that assure shade and protection from sun and wind all year round.

THE PROJECT:
There are already 3 built cottages (unfinished) on the beach and with the property comes a building permit and all the necessary clearances to build another 7 cottages (total of 10 cottages), restaurant, swimming pool, dive center and 9 villas, for a total of 34 beds accommodation.

This is an amazing advantage passing to the new owner because he can start to build the same day the property is bought saving at least 1 year for the authorization process and several thousand dollars of permit fees.


FINANCIALS: At the moment is not possible to operate the structure, the project needs to be completed (at least in part, building the restaurant) before in can turn in profit At full occupancy during the 6 months of high season (november to may) such a project can produce a gross income ranging from 10 to 30M peso per year.


SELLING PRICE: 99.000.000 Philippine Peso – 1,700,000 Eur approx


TAXES: to be shouldered by the investor, depending on the purchase method: ranging from 1 to 30%

Price:1,700,000 Eur
City:Coron
County:Palawan
State:Philippines
Property Type:lot for sale
Lot size:31,000 sqm
Location:Coron , Palawan - Philippines
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