Beach resort San Remegio Cebu North for sale

Beach resort San Remegio Cebu North for sale

San Remigio, 6011 Cebu, Philippines

On Sale

₱70,000,000

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  • Resort March 8, 2016
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Property ID :

 None

Area
10000

Description

BEACH HOTEL
Beach resort located in San Remegio, Cebu north
100 meter white sand beach and children swimming pool
more than 30 rooms
Lot area 10,000 sqm : 70M negotiable
Lot Area 8,000 sqm : 50M negotiable
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White sand beach 100 meter wide
30 rooms with balconies facing the beach
6 Beach Bungalows, 50 sqm area
Swimming pool, shower house, 2 saunas
Coffee shop, Lounge, Office
All rooms furnished with designer furniture
Leather chairs and writing desks with leather top
Fully operational hotel with over 100 beds
The SITE
Property border

BEACH HOTEL for Sale or Lease:
v 10,000 sqm Beach lot with white sand beach
v 30 rooms (21 Keys), most with balconies facing the Beach.
v Room Size vary from 30 sqm to 50 sqm.
v 5 beachfront Bungalows, 50 sqm plus terrace
v Lounge with Karaoke / Movie set and office with storage rooms
v Swimming pool suitable for beginners dive course
v 3 Sunshades on the beach
v Indoor & Out door dining facility with Bar & Billiard
v In-house electric transformers, generators, water
wells and tanks
FULLY FURNISHED
The Hotel is fully furnished with leather chairs, leather tables, designed by Ernest Hemingway from his
Safari Collection, all rooms have oil paintings, there are TV’s and Satellite Dishes for most rooms, there
are Antique cabinets and Desks, a lot of American designed wood tables. All rooms are built in steel
reinforced concrete, typhoon proof foundation and concrete roof slab.
DESCRIPTION OF THE PROPERTY
Ownership of land and improvements is registered in Registry of Deeds, BIR and the local authorities and
evident by Tax Declarations for over 25 years, Deed of Sale from previous owner, License to Sell from
SEC, Development Permit and Environmental Compliance Certificate from DENR, Building Permits and
Occupancy Permits from San Remigio Municipality and no contested ownership over the last 50 years.
The lot is currently being titled in a land registration case in RTC
in Bogo. The Title is expected to be issued within the next few
years. The land has been owned by the Seller and its previous
subsidiary since 1989 and application for title was filed in 1997 but
re-filed in 2007 due to increase in value and change of court.
The property is fenced with concrete wall on East side, fence on
the South side, beach to the West and fence on the North side.
OPERATION COST
The cost of running the Hotel is very modest due to:
– Hotel has its own transformers
– Staff scheduling is flexible, all staff live around the Hotel.
– Maintenance is very low as all buildings are made of concrete, most roofs are concrete, windows & door
jams mostly concrete, all floors tiled and most wood removed.
– 3 self-draining Septic Tanks
– Fresh water from own wells + backup supply from local water company.
BEACH HOTEL
Description of the Resort
The Resort is about a two-hour and fifteen minute drive from
Mactan International Airport or from Cebu City. The first 110
kilometer road is concrete, the local entrance road is a 1km
sand road and through the golf course is a narrow concrete
road. The resort is situated in San Remigio, on the west
coast, by the Tanon Strait facing Bantayaan Island in the
north of Cebu Province.
The resort is classified as a Class “A” resort by the Dep’t of
Tourism and recognized as a 3-star facility.
MANAGEMENT’S DISCUSSION
The financial results of the Seller during the last 17 years can simply be described as moderately
profitable. Annual turnover has been between USD 320,000 – 425,000.
The Company started the operation in 1997 and has consistently undertaken improvements and
expansions.
BUSINESS DEPENDENCY
The business since 2001 has been generated from Korean and Japanese guest, in-house sales, On-Line
Room Agents, Casa del Mar members and various tenants. Timeshares were sold during 2002 – 2006
and generated very good revenue.
The Company is not aware of any government regulation that can affect the business. Government
approvals such as Business Permit, Mayors Permit, Sanitary Permit have been received for 2016.

ROOM BOOKINGS
For Room bookings please search under Cebu or San Remigio for Casa del Mar in Booking.com and Expedia. In Agoda enter Cebu Beach Resort.

PROPONENT’S EMPLOYEES
Current employees in the hotel are 10. There are no current CBA’s, no strike and no labor problem in
Casa del Mar Hotel. Staff is willing to stay if the Hotel is sold or leased but can also be transferred.
LEGAL PROCEEDINGS
No material litigation or claim is pending or threatened against the Company. There is no lien,
encumbrance or mortgage on this property. The entire San Remigio area was declared Tourist Zone by
the Municipal Government 30 years ago and today the local government is supporting the project to
promote the entire area for tourism development.SALE, LEASE & TRANSFER OWNERSHIP IN RP
All improvements like Hotel buildings, utility installations, etc can be sold to a 100% foreign company or
individual as separate assets. The land must be sold to a 60/40 corporation.
LEASE
The Land can be leased to a foreigner entity. The Lease can be an “infinity lease” extended with 25 years
increments forever.
PRICE
The price, subject payment terms, see separate price list, is for the Beach Hotel, Bungalows, Coffee shop
& Pool with 10,000 sqm land including the white sand beach.
Additional adjacent lots can be obtained from the Seller for a modest price.
The price is inclusive VAT and property taxes.
The price does not include Transfer tax, Capital gains tax, Documentary stamp and Notary fees. These
costs shall be paid by the Buyer.

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