0502 26-Room Guest House in Patong, Phuket

26-Room Guest House in Patong, Phuket
Listing No. 66-0502

• Business: Guest House
• Location: Patong Beach, Phuket. Off Phangmueang Road, which is a main road a few streets back from the beach-front
• Building: 4 floor guesthouse with reception on the ground floor
• Features: 26 Rooms – 4 superior, 14 standard, 4 family, 2 twin and 2 rooms without balcony. Rooms have en-suite bathrooms with hot and cold water, closets, air-conditioning, TV (21”), small mini safes and small fridges. WIFI is throughout and all linen is included. All but 2 rooms have balconies. There is a small restaurant (seats 6) in the lobby.
• Options: The landlord (currently also the business owner) will consider payment split over two payments if required
• Tenure: Leasehold, 3 years renewable (3 + 3 + 3) with rental increases of up to 10% every 3 year renewal
• Staff: Currently 3 salaried staff, with a monthly payroll of 30,000 baht
• Licenses: Not included – need to be re-applied for
• Stock: Stock remaining at time of settlement is included in the price
• Online: The business was previously listed on agoda, but the new owner will need to activate their own accounts as required
• Rent: 150,000 baht a month (up to 3 months free rent upon purchase to allow for renovations)
• Utilities: About 10,700 baht a month
• Car Parking: Motor bike parking is available outside of the hotel
• Business Operational: Yes – since 2010
• Transition: The landlord will assist in transitioning the business for a short period after settlement, if required
• Reason for Selling: The former owner left with rental arrears, so the business is currently being operated by the landlord
• Revenue: unknown
• Net Profit: unknown
• Financials: Not available
• Asking Price: 3 Million Baht
• Price Negotiable: Yes, near offers will be considered
• Security Deposit: 900,000 baht paid at the time of settlement to the Landlord. Subject to compliance with the rental agreement, refundable upon termination of lease agreement
• Key Money: N/A
• Sale Terms: 20% deposit (to secure the business and remove it for sale) and the balance within 30 days. Ownership does not transfer until payment has been received in full
• More Information: Further details will only be provided after inspection
• Inspections: 24 hours’ notice is required to inspect this business. Inspection times are between 1000 and 1700 Monday to Friday and between 1000 and 1300 Saturday
• Agents: No Agent inquiries please

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