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Manila Bulletin devider Business devider GSIS offers lease for two lots in Ortigas Center

GSIS offers lease for two lots in Ortigas Center

Published Sep 16, 2023 08:07 am

At A Glance

  • The Government Service Insurance System (GSIS) is leasing out two real estate properties in Ortigas Center for over P83 million per year. The properties are located at the intersection of Doña Julia Vargas and Meralco Avenue, Brgy. Ugong, Pasig City.<br>The first property is 5,977 square meters with a monthly lease rate of P580 per square meter, totaling P3.46 million. The second property is 5,978 square meters with the same lease rate, totaling P3.47 million.<br>The lease prices do not include the 12 percent value-added tax (VAT).<br>- Both properties, identified as Blk 3-B-1-B-1, Lot 3-B-1-B-1-A, and Blk 3-B-1-B-1 Lot 3-B-1-B-1-B, are rented out "as is, where is."<br>- Additionally, warehouse units A, 103, 105, and 107 of Pasig Central Business Park Property 01 are available for short-term leases.<br>- Unit A has a floor area of 117 sqm, Units 103 and 105 measure 1,176 sqm, and Unit 107 is 1,184 sqm.<br>- Minimum monthly lease rates vary based on the unit's square meter and exclude 12 percent VAT.

The Government Service Insurance System (GSIS) is leasing out two real estate properties in Ortigas Center, Pasig City for over P83 million per year.

According to a notice on the GSIS website, these properties are located at the intersection of Doña Julia Vargas and Meralco Avenue, Brgy. Ugong, Pasig City.

The first property covers an area of 5,977 square meters and has a monthly lease rate of P580 per square meter, totaling P3.46 million.

The second property measures 5,978 square meters and is also leased at P580 per square meter per month, amounting to P3.47 million.

The rental costs do not include the 12 percent value-added tax (VAT).

GSIS said that both properties, identified as Blk 3-B-1-B-1, Lot 3-B-1-B-1-A, and Blk 3-B-1-B-1 Lot 3-B-1-B-1-B, are owned by the fund and will be rented out "as is, where is" basis.

Meanwhile, warehouse units A, 103, 105, and 107 of Pasig Central Business Park Property 01 are also available for short-term leases on an "as is, where is" basis.

Unit A has a floor area of 117 square meters, while Unit 103 and 105 both measure 1,176 square meters, and Unit 107 is 1,184 square meters in size.

The minimum monthly lease rate varies based on the square meter of each unit, but all prices mentioned are exclusive of the 12 percent value-added tax (VAT).

These warehouse units are located at Lot 3 Amang Rodriguez Ave., Brgy. Manggahan, Pasig City. The maximum lease period allowed is five years.

Interested renters/lessees must either be a corporation or a partner that is duly registered with the Philippine Securities and Exchange Commission (SEC) or any equivalent authority.

Alternatively, they can be a sole proprietor who is duly registered with the Department of Trade and Industry (DTI), possessing valid Mayor's business permits and licenses, and legally authorized to engage in leasing activities in the country.

Lease proposals for the vacant lots begin on Sept. 15 to Oct. 16, 2023, while warehouse unit proposals start on Sept. 15 to 29. (Gabriell Christel Galang)

Related Tags

Government Service Insurance System Pasig City
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