0526 5 Floors 16 Room Guest House with Bar and Restaurant

 

5 Floors 16 Room Guest House with Bar and Restaurant

Listing No. 66-0526

 

·         Business:  Guest House, Bar and Restaurant

·         Location:  Patong, Phuket, Thailand.  Conveniently located in a quieter area of Patong Beach, but close to Malin Plaza which comes to life in the early evening with a huge market offering every type of clothing and accessories. 

·         Building:  5 floor building with entry from the ground level

·         Size:  approximately 620wah2 over 5 levels

·         Features:   There are 3 standard rooms, 12 superior rooms (28m2 each) and one small room (18m2) serviced with an elevator.  All rooms are of modern design and include all the facilities you would expect from a luxury hotel such as very comfortable beds, powerful air conditioning, FREE Wi-Fi internet access, safe deposit boxes, stocked refrigerator, hot & cold shower and LCD cable TV.  Room rates are between 1,200 baht and 1,500 baht a night.  The restaurant and bar seat around 20 people and the kitchen is equipped.

·         Tenure:  Leasehold, 3 years renewable (3+3+3)

·         Staff:  Currently no staff – the business is not operational

·         Licenses:  The new owner will be required to obtain new licenses

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

·         Rent:  100,000 baht a month paid quarterly in advance

·         Car Parking:  Limited customer car parking is available in the nearby soi’s.  Motor-bike parking is in front of the hotel.

·         Business Operational:  No

·         Transition:  The landlord will assist in transitioning the business for a short period after settlement, if required

·         Reason for Selling:  Owner left for other business interest

·         Revenue:  unknown

·         Net Profit:  unknown

·         Asking Price:  1.5 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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