Is 650 PHP/sqm a good price?
Evaluating the mixed-use lease proposal for Warehouse, Office, and Retail at 1208 P. Ocampo St., San Andres Bukid, Manila.
The Bottom Line
The Verdict: It's Complicated
The 650 PHP/sqm rate isn't a simple "yes" or "no". Its value depends entirely on how you use the space. The landlord is pricing the property based on its highest potential (retail/office), not its lowest (warehouse).
As a Warehouse...
The rate is significantly overpriced. You can find dedicated warehouse space in more strategic logistics areas of Manila for 18% to 270% less.
Poor Value
As an Office...
The rate is competitive and fair. It falls below the Manila city average (PHP 800-850) and is a viable price for a Grade B/C building in this accessible corridor.
Fair Value
As a Retail Space...
Assuming good frontage on P. Ocampo St., the rate is potentially a great bargain. Prime retail in nearby areas commands PHP 800-2,000+ per square meter.
Good Value
Interactive Valuation
Find Your "Fair Value" Rate
This property's true value is a blend of its uses. Use the sliders below to model your business's space allocation. See how the "Fair Market Value" changes and compares to the quoted rate of 650 PHP/sqm.
Your Blended Fair Market Value:
PHP 648
per square meter
Market Comparison
How Does It Stack Up?
See how the 650 PHP/sqm rate compares to other properties across Metro Manila. Select a use case below to update the chart and see the range of prices in different districts.
Strategic Context
It's All About the Corridor
The property's value isn't derived from its San Andres Bukid address, but from its prime frontage on the P. Ocampo St. corridor—a vital commercial artery poised for future growth.
Major Artery
P. Ocampo St. is a major road connecting Manila to the Makati CBD, ensuring high vehicle and foot traffic.
University Belt South
Proximity to De La Salle, CSB, and St. Scholastica's creates a massive, consistent market of students and staff.
Transport Hub
Located near the LRT-1 Vito Cruz Station, providing excellent access for employees and customers.
Path of Progress
The district is undergoing urban renewal with government and private projects signaling future value appreciation.
Last-Mile Hub Potential
Ideal for an e-commerce "last-mile fulfillment center," combining storage, office, and a customer pick-up point.
Established Institutions
Near major landmarks like the Central Bank, Rizal Memorial Complex, and Century Park Hotel that generate activity.
Final Recommendation: Conditional "Proceed"
Our analysis supports proceeding with the lease, but ONLY after completing these non-negotiable due diligence steps.
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1
Confirm Zoning (Critical)
Immediately apply for a Certificate of Site Zoning Classification from the Manila City Planning Office. This legally confirms you can operate a warehouse, office, AND retail space. If not, decline the offer.
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2
Conduct Physical Inspection
Visit the site to ensure the layout works. Check for separate access for deliveries and customers, adequate parking, and internal flow to prevent operational conflicts between the three functions.
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3
Negotiate from Strength
If the first two steps are successful, negotiate the lease. Argue for a lower base rent using the warehouse data, aim for a 5% annual escalation rate, and secure a rent-free fit-out period.