Bungalow Resort

[SunbeltAsiaAdvisor]

Bungalow Resort

Location: Kanjanaburi

Listing ID# BKK14025

4,500,000THB

BUSINESS SUMMARY

An overseas business interest has prompted the owner of this four year old Bungalow Resort in Kanchanaburi to authorise a sale. The development consists of two plots of land which are basically the same size. The original plot has the main building and 11 bungalows, and has been landscaped with a concrete drive and gardens. Of the eleven bungalows there are five with air-conditioning and six cooled by fan; they are a mixture of twin bedroom and double bedroom bungalows, while two have three bedrooms.

On the second piece of land there is a swimming pool and a two bedroom bungalow. One of the bedrooms is used as an internet shop for the hotel but could easily be rented out as a private concern. The swimming pool was built two years ago and has proved a great bonus to the hotel as there are not many pools in the region.

This bungalow has fully tiled floors and a bathroom has been added. A wall has been built around the bungalow on three sides with access by gate through to the swimming pool. It has its own garden and there is a private drive for parking.

There is enough room on the second piece of land to easily build another 10 bungalows. There are two full time employees retained at the moment with a third working on a part time basis. Salaries normally total 15,000 baht per month.

The hotel has a website, is registered with an online booking website and is now also featured in a leading tourist guide book. The guide book has vastly increased trade; in December and January alone the hotel took over 300.000 baht. Estimates for the current year would see the hotel take in excess of 1,000,000 baht. In the last four years at least another 2,000,000 baht has been spent on improving the original purchase.

The property is leased for a period of 10 years running until September 2016 at a rate of 8,000 baht per month during the first five years of the lease. A rate increase of five percent has been factored in for the second five year period of the lease contract. Rent is payable in advance each year. Asking price: 4,500,000 baht.

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