0402 14 Bungalows on 10 Rai Land for Rent in Koh Phangan

14 Bungalows on 10 Rai Land for Rent in Koh Phangan

Listing No. 66-0402

 

•Business:  Resort

•Location:  Thongsala, Koh Phangan, Thailand

•Building:  14 Bungalows in a tropical garden setting

•Size:  approximately 10 rai or 4 acres

•Features:  For rental only, this developed land is located only 5 minutes’ walk to the idyllic coastline of Nai- wok Bay.  Nai-wok Bay is the long bay that extends north from Thongsala pier (1 km from the resort).  The resort is also located close to the Muay Thai Boxing camp which is promoted very well through social media and tends to get many students. There are 14 bungalows (7 x 62 m2 and 5 x 42 m2 and 2 bungalows used by the current owners as their residence).  All the bungalows have a separate bedroom, living room, kitchen, and are appointed with normal features like fridge, TV, air-conditioning and terraces. The rooms are currently rented out long term for 15,000 baht a month.  There is ample room for building more Bungalows or other buildings and facilities on the land if required.

•Potential:  The current owner does not advertise the resort online; relying only upon repeat customers.  The new owner could advertise some or all of the bungalows though the online booking channels, social media, etc. to increase revenue by changing the long term rental rate to a short term rental rate.

•Tenure:  Leasehold, 5 to 10 years renewable (negotiable)

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

•Rent:  170,000 baht a month (if paid monthly in advance), or 166,666 baht a month (if paid annually in advance)

•Business Operational:  Yes – same owner since 2004

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

•Reason for Selling:  Other business interest

•Asking Price:  N/A – Rental only

•Price Negotiable:  Yes, near offers will be considered

•Security Deposit:  1,020,000 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

•Lease Terms:  To secure this business, the buyer needs to lodge 20% of the Security Deposit and pay the balance of the Security Deposit and Rent in Advance within 30 days.

•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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