How to sell a commercial building lease? Please help.

[SasaBKK]

Hello all,

 

In the pandemic, my question comes at a time that is truly challenging. But I need some advise.

I have a 8 years lease on commercial shophouses (3 of them), half renovated. Investors decided to pull out so I am now burden with debts as the lease is in my name. 

It is not operational and we do not have a company registration as we are still in the process of applying for BOI but I suspect that our lawyer never really applied for it as we paid her 50% in Oct 2019.I have asked repeatedly for evidence of the BOI application but she cited covid 19 as the reason for the delay.

Are there some companies that I can reach out to? to sell the lease? I don't have the funds to continue the renovation and I still have rental and land taxes to pay so that faster I can sub lease the building out, the better it is.

I would appreciate any help and advise that I can get as right now. Thank you.

 

[dabhand]

Giving some location details of the shophouses might be useful.

[SasaBKK]

In the pandemic, my question comes at a time that is truly challenging. But I need some advise.

I have a 8 years lease on commercial shophouses (3 of them), half renovated. Investors decided to pull out so I am now burden with debts as the lease is in my name. 

The 3 shophouses are located in Bangkok city. about 6-8 mins walk from Sutthisan MRT station,  in the old RCA 2 area. 

It is not operational and we do not have a company registration as we are still in the process of applying for BOI but I suspect that our lawyer never really applied for it as we paid her 50% in Oct 2019.I have asked repeatedly for evidence of the BOI application but she cited covid 19 as the reason for the delay.

 

Are there some companies that I can reach out to? to sell the lease? I don't have the funds to continue the renovation and I still have rental and land taxes to pay so that faster I can sub lease the building out, the better it is.

 

I would appreciate any help and advise that I can get as right now. Thank you.

Edited July 29, 2020 by SasaBKK
Just to add in more info.

[khunPer]

23 hours ago, SasaBKK said:

I would appreciate any help and advise that I can get as right now. Thank you.

A real estate agent would be an obvious possibility, most of them only charge their percentage after success.

[SasaBKK]

Yes of course. I have tried but to no real successes. Maybe I am not reaching out to the right agent? Hence I am here asking for more advise.

[khunPer]

2 hours ago, SasaBKK said:

Yes of course. I have tried but to no real successes. Maybe I am not reaching out to the right agent? Hence I am here asking for more advise.

A big sign with "For Rent" or "Lease for Sale" in both English and Thai might also work, many just look around for potential empty shops/buildings, and you save an agent's commission.

 

Thaivisa also have a property section, have you checked your possibilities in that?

[Speedhump]

Invest 40 million is something that pleases the government (for the time being) and lose the land when you die unless you have a Thai relative. 

 

Are you telling us anything useful for the other 99 pct or just being a pedant?