0504 Great Location Patong 27-Room Hotel with Restaurant and

 

Great Location Patong 27-Room Hotel with Restaurant and Bar

Listing No. 66-0504

 

• Business:  Hotel and Restaurant
• Location:  Patong Beach, Phuket.  Just 300m to Jungceylon Mall, Patong's biggest shopping mall and 700m to the shores of Patong Beach
• Building:  5 Floors on a main road with a wide restaurant area, large bar and functional kitchen
• Size:  approximately 380m2 over 5 levels

·         Features:  27 Room hotel offering air-conditioned rooms with free Wi-Fi, wood-panelled walls, private balconies and a satellite TVs (14”).  Linen, Minibars and fridges are included.  En suite bathrooms come with hot-water showers.  The large ground floor restaurant seats 48 and serves a selection of Thai and European dishes and is open for breakfast, lunch and dinner.  Drinks can be enjoyed at the 24-hour bar which seats 12.

• Potential:  There is room for a tour desk in the lobby, which may be operated by the new owner or (potentially) sub leased to another person.

·         Tenure:  Leasehold, 3 years renewable (3 + 3 + 3) with rental increases of up to 10% every 3 year renewal

• Staff:  Currently 4 salaried staff
• Licenses:  All licenses have expired and will need to be re-applied for by the new owner
• Stock:  Stock remaining at time of settlement is included in the price
• Online:  The business is currently listed on major booking channels and rated favorably in Trip Advisor, however new accounts will need to be established by the new owner
• Rent:  180,000 baht a month (paid semi-annually in advance)
• Utilities:  between 15,000 and 30,000 baht a month
• Car Parking:  Limited customer car and motor bike parking is available at the front of the hotel and in the nearby soi’s
• Business Operational:  Yes
• Transition:  The owner will assist in transitioning the business for a short period after settlement, if required
• Reason for Selling:  Previous business owner left without replacement
• Revenue:  unknown
• Net Profit:  unverified
• Financials:  May be made available to genuine buyers, only after inspection
• Asking Price:  1.5 Million Baht
• Price Negotiable:  Yes, near offers will be considered
• Security Deposit:  540,000 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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