Hotel for sale . 70% completed North of Patong Phuket.

฿590,000,000
Lot Area: 28800 Sqm

Viewings by appointment only: ken@idealtropical.com OR phone me +66925768968 OR +66868047407.

70% completed hotel development for sale OR joint venture. This wonderful and prime located hotel development offers huge opportunities to serious investors in the massive and growing Phuket tourism market.

The official valuation (completed around 4 months ago) is 771 million THB ($29.65 million AUS). This was based on the property as is, with around 30% of construction to be completed.

There are considerable benefits for an investor, given that it will give them a good foothold in Phuket, in a premium hill-side (sea view) location. Being so close to Patong and the beach, but on a quiet, lush elevated sea view site

Features and Benefits:

This is truly a unique and fantastically well located 166 room property, which is set on a 16.3 rai (over 6 acres) land plot in a lush tropical forest with its very own natural waterfall and glorious sea views over Patong Bay.

Phase 1: The first phase includes: lobby and reception, lounge bar and 5 shops, enormous games room, conference facilities (with 4 meeting rooms), staff canteen changing rooms, engineering workshops, laundry, staff training rooms, two restaurants, huge spa complex, saunas, gymnasium, 5 pools and 74 guest rooms. Most of our rooms are between 45sq mtrs and 80sq mtrs.

Phase 2: comprises 92 rooms (or more, depending on the owner’s preference and desired room sizes).

There are 4 directors in the owners group and Full due diligence has been conducted by a leading Law firm based in Bangkok.

For a quick sale outright, accept around 590 million THB ($22.7 million AUS) or slightly less.

Once completed, it is estimated the 74 room resort would be worth around 1300 million THB ($50 million AUS), and that includes 6-8 rai of vacant land (phase 2) on which another 92 rooms can be constructed.

Given the number of 3 and 4 star properties in Phuket (and particularly in Patong) a niche market opportunity in the luxury 4.5 – 5 star boutique segment, particularly if combined with a unique concept. (a locally based award winning international hotel designer) who believes the hotel has the potential to become one of the best resorts on the Island.
Viewings by appointment only: ken@idealtropical.com OR phone me +66925768968 OR +66868047407.

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