CAPITAL House view from 34th to 9th Street
Office spaces in Bonifacio Global City (BGC) are used to be tailored for large-scale operators like business process outsourcing firms and multinational conglomerates. Now small and medium enterprises will still be getting the office spaces they need as Avida Land launches its second venture into office condominium development in BGC.
Dubbed Capital House, this is a 26-story boutique office building project the total sales value of which is estimated at P4 billion.
With modern contemporary architecture, Capital House has 222 office units ranging in size from 62 to 159 square meters, with special whole floor units of 1,400 sq m. The package is priced at P9.8 to P25.9 million.
According to Avida’s Innovation and Design Group head JoJo Fabricante, Capital House is a sequel to the One Park Drive office project also in BGC. One Park Drive, at 20 stories high, is also geared for SMEs, and sold out at a P2.5-billion value on its first year of selling alone.
THE SMALLEST office unit of the Capital House, measuring around 62 square meters
Good market
Fabricante said: “We see a good market for businesses seeking a sought-after address like BGC, as evidenced by the success of One Park Drive. Capital House positions movers into an area primed for success with world-class amenities.”
He noted that most office spaces in BGC have units that are not smaller than 100 sq m with modal offices at around 250 sq m.
Retail spaces for dining and shopping will be on the ground. The building will also feature an open deck, a roof deck and numerous parking slots. Owners will have 344 parking slots while 110 slots will be paid for by guests.
Capital House is also organized for greater flexibility and convenience of start-ups and expanding businesses. Unit owners can lease multipurpose rooms and conference rooms so owners can expand their office operations without adding to their investment.
Capital House features individual cooling systems for office units rather than centralized air-conditioning. Because of this, businesses will have full control of the cooling of their respective offices. This setup is more economical, not adding up to association dues.
Leasing services will be offered to unit owners to help them find tenants for their spaces.
Herbert Herrero, project development manager for Metro Manila and Luzon area, said: “Right now, our buyers are a mix of investors and end-users. As the Philippines becomes a booming real estate market, more and more investors are inclined to buy a mix of residential and office developments. We’ve also noted an increasing rise among foreign buyers for our offices.”
He said the property is located at the corner of 34th Street and 9th Avenue in BGC’s “Active North” district. It is near such active lifestyle attractions as the Turf BGC, an all-weather football field, and Flying Trapeze Philippines. The BGC Sports Complex and Kidzania, a family “edutainment” center, will soon rise in the area.
CAPITAL House view from 34th to 9th Street
The project will be completed by December 2017 while turnover will happen by the second quarter of 2018.
Avida Land, the mid-market brand of leading real estate developer Ayala Land Inc., boasts of five residential condominiums near their BGC office projects, four of which are within walking distance of Capital House. This large footprint across the city embodies Avida’s live-work-play balance for developments. All the elements for this lifestyle are carried in its growing range of products.
Celebrating its 25th anniversary this year, Avida has consistently been top-ranked among developers in the entry-level property segment.
The company has built 60,000 homes within 73 projects in 29 strategic locations nationwide, making it to date the Ayala Land subsidiary with the most number of projects to date and with broadest geographic presence in the country.
Avida recently announced its 1.4-hectare condominium development in Cloverleaf, Ayala Land’s township project in Balintawak, Quezon City. It will be adding 2,000 units as part of its residential offering there to complement the retail, business and lifestyle components of Cloverleaf.