New Apartment / New Home, Lake, Resort, Marina, Fishing, Woods, Management, 5th Floor, Attic, Kitchenette, Investment property
This property is almost finished and will be completed end of November 2009. It is a brand new Condo/Hotel in a prime location. It is the first Best Western franchise hotel in Panama with one in David following later this year.
This is the first condo hotel in Panama to be completed!
The Best Western Hotel is located in the area of Espinar Colon, 500 meter from the 5-star Hotel Resort, Melia Panama Canal. It is just 10 minutes from Zona Libre Colon, the 2nd largest Free Zone Area in the world after Hong Kong. The Free Zone area has estimated sales of 11 billion dollars a year bringing along with it, 275,000 visitor/buyers per year. It is undergoing massive expansion to meet with the demand and will have doubled in size when finished.
There is a lack of hotel and short rental accommodations throughout this area and prices are rising fast. There is a great demand for comfortable, fairly priced hotels with good amenities.
The Best Western Hotel is just 7 km from the Gatún Locks on Panama Atlantic Side.
Why invest in Best Western Gatun?
As mentioned earlier the expansion of the Freezone. In the last Cruise season, the Port of Cristobal and the Port of Colon 2000 received more than 340,000 tourists. Royal Caribbean, as off December 2008 , started to depart from Colon for weekly cruises . Colon is now Royal Caribbean hub for the whole of Central and South America. The Best Western Hotel is located 10 minutes from the cruise terminal. Ideal position to accommodate the overnight travellers. Eco tourism and fishing. The hotel is located 1/2 mile from the Gatún Lake ( up to recently the largest manmade lake in the world) with abundant Bass fishing. There is a rain forest at the back of the hotel with nature trails and guaranteed encounters with playful monkeys, beautiful butterflies and birds. Other Tourist Attractions are plentiful and these are a few examples.....
Fuerte San Lorenzo Fuerte Portobello Panama Canal Gatún Locks Isla Grande (a surfer's paradise) and many Caribbean white sandy beaches. The project is located in the bird watching path for migratory birds and great Eco tourism. However the hotel has been fully booked for a minimum of 5 years as of November 2009 by the consortium working on the canal expansion.
Unit Pricing
Junior suites 24m2 $59,000 Master suites 29m2 $69,000 Master kitchenette 29m2 $79,000 One bedroom apartment 46m2 $92,000 Master lofts 46m2 5th floor $102,000 Methods of Payment
Cash only at this late stage. 100% occupancy guaranteed for at least 5 years!! Fill in the customer reservation form. A contract will be sent by courier .You will have 15 days to review the contract and wire the deposit. 50% deposit now. 50% balance at closing The Hotel Management will charge a 30% fee for managing your property. You will retain 70% of the income generated Maintenance Fee is $2 per m2 per month including furniture, fixtures and equipment replacement. The fee will also take care of cleaning. BEST WESTERN HOTEL MANAGEMENT
Monthly rates (Canal Personnel)
Unit 24 m2: $1,250.00 per month Unit 29m2: $1,500.00 per month Unit 29m2(Kitchenette): $ 1,600.00 per month Unit 46m2 (Kitchenette & Jacuzzi): $1,800.00/month Unit 46 m2 (Living, Dining and Kitchenette): $1,850.00/month