0505 16-Room guest House with Small Restaurant and Bar - Patong

 

16-Room guest House with Small Restaurant and Bar - Patong

Listing No. 66-0505

 

·         Business:  Guest House

·         Location:  Patong Beach, Phuket.  Located only 5 minutes from one of Phuket’s most popular beaches

·         Building:  5 storey double shop-house, with ground level entry

·         Features:  12 standard suite rooms, 2 junior suites and 1 penthouse suite (2 rooms), all comfortably furnished with air-conditioning, mini bar, cable television, in-room safe, balcony and more.  The suites and penthouse both have kitchens, and the floors are serviced by an elevator.  The restaurant seats 8 and currently serves Thai food and burgers.  The bar, which comes with a pool table, seats about 8 also.  The kitchen is equipped and functional.  WIFI is throughout and the hotel comes with linen.

·         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:  appropriate licenses are current and come with the business

·         Stock:  Stock remaining at time of settlement is included in the price

·         Online:  The business is listed with the major online booking agencies like booking.com, agoda and hotelscombined.  It is featured in local sites (phuketdir) and in the top 25% of the ‘B&B’s/Inns in Patong’ section of TripAdvisor

·         Rent:  135,000 baht a month (paid semi-annually in advance)

·         Utilities:  between 9,500 and 26,000 baht a month

·         Car Parking:  Limited customer car parking is available 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:  The current owner has purchased a larger hotel

·         Revenue:  About 5 million baht annually

·         Net Profit:  About 1.3 million baht annually

·         Financials:  May be made available to genuine buyers, only after inspection

·         Asking Price:  3 Million Baht

·         Price Negotiable:  Yes, near offers will be considered

·         Security Deposit:  300,000 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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