Another rip snorter.....
(UPDATE! This resort is now offered on a leasehold basis, and is available on a long nine year lease term (three years with two renewal options). The security deposit of 8,000,000 baht will be repaid at the end of the contract. Yearly rent is set at 6,000,000 baht (equivalent to 500,000 baht a month). This must be pre-paid one year up front. In the last financial year this resort made a net profit of 12,000,000 baht after all expenses were paid. Nevertheless, investors need only 14,000,000 baht to take over the business (security deposit plus one year in rent).
This well established Resort was constructed on 28 rai (44,800 square metres) of freehold land on an island near Krabi in 1990. The current owner has been in place for the last five years, but is now leaving to pursue an unrelated business venture. Official valuations have recently been carried out, and the estimated worth of the land, buildings and assets is 685,000,000 baht; only 495,000,000 baht is being sought to prompt a business transfer however, as the owner is eager to move on. Land values are expected to rise for the foreseeable future, especially as there are no vacant plots left on the popular tourist island. Only 15 rai of the resort's land has been developed hitherto, so the new owner will have the opportunity to expand the enterprise from its current total of 105 rooms.
Facilities include two restaurants, a beach bar and a swimming pool, and the sale will also include a registered company, three speed boats, four ferries and seven cars. The small island sits amid pristine crystal clear waters and provides excellent fishing and snorkelling; marvellous views to neighbouring islands are also afforded. Good occupancy rates have been built up over the years, and this leads to impressive annual receipts of 33,500,000 baht and net profits of 17,500,000 baht. A large workforce of approximately 100 employees is in place to assure a seamless ownership transition.
(BKK13307)
New asking price: 14,000,000 baht (security deposit plus one year's rent).