The time & date in Clark, Philippines is

Land for sale in Philippine Clark Freeport Zone

LONG TERM LEASE of 3-hectare Prime Property in Philippines Clark Freeport Zone for sale.

LOCATION: Centennial Road corner of Magsaysay Extension, across the road from rear entrance of Clearwater Country Club fronting Centennial Road, Texas Instruments on the other end.

Access

Access to Lot D is via Centennial Road.

Area of Lot D

Physical area of Lot D is considered to be roughly 30,000 square meters, or 3 hectares, end to end.

Period of Lease

Lease contract is for the period ending December 2049.

Payment to Clark Development Corporation (CDC)

If Lessee operates a business on this property, Lessee has to pay โ€œrevenue sharingโ€ to CDC based on the following:

โ€ข 7% of gross profit, OR
โ€ข 3% of gross revenues WHICHEVER IS HIGHER.

PRICE AND PAYMENT TERMS:

Two options for payment are available:

A. One-time payment:

US$3,500,000

B. Monthly Payment:

Monthly Lease Rental Rate and Escalation

Startup monthly lease rental is US$26,000, with an escalation (increase) of 10% after every three years.

Security Deposit

24 months security deposit, returned at the end of the lease, forfeited by Lessee on pre-termination Security deposit cannot be used to offset lease rental payments.

Advanced Lease Rental Payment

Advanced payment of 24 months and can be deducted from the lease payments during the last two years of the contract. Advanced lease rental payments cannot be applied to offset monthly lease rental payments. Please also note that the monthly rental is higher for the last 24 months of the agreement because of the escalation mentioned above. The Advanced Lease Rental Payment requirement is only based on current rent so this payment will only be enough to offset less than 24 months of rent for the final months of the lease contract.

Payment Terms

Lease rental is paid six months at a time in advance. Payments must be made in USD deposited into a bank account possibly in Philippines or Kong Kong as designated by Lessor.

Initial Payment

Based on above-mentioned payment terms, the first payment due upon signing of the agreement shall include:

1. Security deposit of 24 months
2. Advanced Lease Rental Payment equivalent to 24 months for the last several months of the lease agreements
3. First six months of lease rental

Pre-termination

There is no pre-termination of this contract. Failure of Lessee to make payment will result in Lessee defaulting on this contract.

Default

Failure of Less to honor his obligations in this contract will result in default. Default will lead to automatic cancellation of the lease, lessee must vacate the property within 14 calendar days, forfeit all security deposit and advanced lease rental payments and forfeit everything that was not removed from the lot.

For more details, please contact Yats International at

(632) 637-5019 or contact Yats Leisure:

Yats International Leisure Philippines
3003C East Tower, Philippines Stock Exchange Center,
Exchange Road, Ortigas Center, Metro Manila
Philippines 1605

Click here to read more about the cost of land for lease in Philippines Clark Freeport Zone.

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