The Bases Conversion and Development Authority (BCDA) and its subsidiary, John Hay Management Corp. (JHMC) are seeking bidders for the long-term lease of three loghome units at Voice of America (VOA), Camp John Hay, Baguio City.
BCDA and JHMC are offering Units 3, 9, and 20A of VOA loghomes for a lease period of 25 or 50 years, with a minimum bid price of P2.51 million for the initial one-year lease of each property.
Eligible bidders include individuals, cooperatives, or corporations that are duly registered under the Department of Trade and Industry, Cooperatives Development Authority, or the Securities and Exchanges Commission.
The units have been recently renovated and were previously managed by BCDA and JHMC.
BCDA said the VOA Estate is ideal for individuals and families looking for nice vacation or retirement homes, or corporations looking for housing for their executives and staff.
The property showcases Camp John Hay’s scenic landscape full of pine trees, rich flora and fauna, and peaceful residential neighborhood. Accessible through Loakan road, VOA loghomes is located north of the John Hay Special Economic Zone (JHSEZ).
The properties were constructed in 2000 on BCDA-owned land within JHSEZ.
Each unit has a uniform floor area of 590 square meters, complete with basic amenities, such as master and guest rooms, bathroom, living and dining areas, kitchen, balcony, and a garage. These are also furnished with fireplaces, saunas, and bathtubs fit for Baguio City’s cold weather.
Submission of documents is on October 10.
The winning bidder has the option to pay the full amount of the winning bid for the present value of the 25- or 50-year leasehold rights over the unit. They may also opt to pay in installment, with at least 20 percent of the winning bid as non-refundable downpayment.
The balance may be amortized for a period of five years, 10 years, or 15 years, with an interest rate per annum or six percent, eight percent, or 10 percent, respectively.
