Location: Quirino Highway, Novaliches, Quezon City
Lot Area: 10,800 sqm with existing development that’s approximately Php 50 million
Asking Price: Php 17,000/sqm for the lot and improvement
This is a sacrifice sale for the total asking price of Php183.6 million.
According to sources at North Belton Communities, zonal value in this area is P35,000 per sqm.
Priority Buyer: End-user who will “move-in” and use the development
Particulars
The property is located in bustling Quirino Highway in Novaliches Quezon City and is130 feet above sea level. It was not in any way affected by Typhoon Ondoy (international code name, Ketsana).
Adjacent is SM Hypermarket (formerly Makro), while 15 to 20 minutes away are SM North EDSA and Trinoma. Nearby is the newly-opened Robinson’s Mall. This property shares a fence with Mr. Lucio Tan’s North Belton Communities, a subsidiary of Eton Properties Philippines, Inc.
On October 3, 2008, it was announced in the Manila Times that a partnership has been struck between Eton Properties and Mr. Henry Sy’s SM Group which led to the development of SM Hypermarket Centris at the 3-billion, 12-hectare mixed use development of Mr. Tan’s Eton Centris at the corners of EDSA and Quezon Avenue.
Today the partnership continues with the acquisition by SM Group of the 3 hectare frontage of North Belton Communities. It will be the site of the soon-to-rise SM Department Store which according to the grapevine will include an IT hub for business process outsourcing companies; possibly a replication of “Centris.”
The SM Group is also negotiating to purchase nearby property on which the defunct Manila Paper Mills stands.
More images of the Property:
Important: We will only deal with motivated buyers. We shall not deal with other brokers or sub-brokers.
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