One of Bangkok’s most famous soapy massage parlours up for sale for 470 million baht

[webfact]

Picture: Daily News

 

Daily News reported that Thai netizens were busy sharing a business for sale advertisement with a difference.

 

It was what Thais call an "Ab Ob Nuat" or soapy massage parlor.

 

For just 470 million baht you could have the 140 room establishment on Arun Amarin Road in the Pin Klao area of Bangkok. 

 

Picture: Daily News

 

There were staff to run the three rai property that has three buildings and five floors including a 50 table cafe.

 

It was all quite legitimate.

 

Profits were 3 - 6 million per month.

 

Picture: Daily News

 

The reason for the sale?

 

The owner was getting on in years and has no heirs. 

 

Picture: Daily News

 

It was also reported that after the business was put up for sale a few months ago there is an interested buyer and finer details are now being worked out. 

 

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Picture: Daily News

[ezzra]

This place and similar used to be a gold mine but with today's uncertainty of this and that viruses better to sell off and walk away and wait for better days and re-open again somewhere else...

[khunPer]

1 hour ago, webfact said:

It was all quite legitimate.

Sounds like an excellent investment then...

[klauskunkel]

Idly wondering which General will be the new owner.

[wombat]

3 hours ago, webfact said:

470 million baht

and an old boy...the no hairs will come.

[RichardColeman]

costs 470 million and takes 3-6 million a month ? Not sure I'd want a risky business , that would take potentially over 13 years to just get my money back before actually paying me a profit

[Liverpool Lou]

9 minutes ago, RichardColeman said:

costs 470 million and takes 3-6 million a month ? Not sure I'd want a risky business , that would take potentially over 13 years to just get my money back before actually paying me a profit

Those will be the legitimate massage/café revenues in the books, the actual revenue could easily be two or three times that!

[alanrchase]

5 minutes ago, RichardColeman said:

costs 470 million and takes 3-6 million a month ? Not sure I'd want a risky business , that would take potentially over 13 years to just get my money back before actually paying me a profit

The three rai of land it is sitting on in Bangkok is probably worth a fair bit on it's own so nowhere near 13 years to get your money back.

[kingstonkid]

I have a suggestion why don't we form a consortium and buy it under the ASEAN NOW BANNER

 

[JCauto]

9 minutes ago, Liverpool Lou said:

Those will be the legitimate massage/café revenues in the books, the actual revenue could easily be two or three times that!

So could the actual costs which would also be off the books! Shady as, if you've not got the "connections", you do not want to be in this business.

[Gsxrnz]

1 minute ago, kingstonkid said:

I have a suggestion why don't we form a consortium and buy it under the ASEAN NOW BANNER

 

Good idea - I'm a qualified accountant and I shotgun the position of Treasurer.

 

Send me the money!

[Sydebolle]

If I had 470 million I would certainly just enjoy the fruits of my savings. With a life expectancy of, say 30 years, it makes 16 million a year or more than one million Baht a month. That is without interest and compound interest. 
But yeah, a general receiving his year-end bonus for his dedicated work for the public and the good of the country, might opt for this money-parking option and whoever thinks of laundering now .... misunderstands what a soapy is for in the first place ???? 

[Gsxrnz]

At circa 50M profit (assuming after tax) per annum it's a steal.  Allowing for a notional rental ROI of say 8% (37.6M) that leaves you with 12.4M of free money, plus capital gain.

 

Only one thing missing in the equation - customers.

[Pravda]

3 hours ago, webfact said:

Ab Ob Nuat

Now I know what to say when immigration asks me if I can speak Thai 

[Liverpool Lou]

10 minutes ago, JCauto said:

So could the actual costs which would also be off the books! Shady as, if you've not got the "connections", you do not want to be in this business.

Anyone who buys this business will instantly have the connections needed if they don't have them already!

[worgeordie]

3 hours ago, webfact said:

Profits were 3 - 6 million per month.

and now ....?

regards Worgeordie

[hotchilli]

4 hours ago, webfact said:

The owner was getting on in years and has no heirs

What's alopecia got to do with it?

[yogi yogi]

what is a soapy massage.   they massage you with soap?  i prefer oil.  

[tonray]

2 hours ago, klauskunkel said:

Idly wondering which General will be the new owner.

They're all silent partners anyway. 

[EVENKEEL]

2 hours ago, Gsxrnz said:

Good idea - I'm a qualified accountant and I shotgun the position of Treasurer.

 

Send me the money!

Only if I can be quality control.

[ArcticFox]

Given the drive to eliminate all Night Entertainment, I doubt they can give it away.

[BritManToo]

4 hours ago, Pravda said:

Now I know what to say when immigration asks me if I can speak Thai 

It's actually "Ap, Op, Nuat, Nap" ...... but they rarely say the "Nap"

Which roughly translates as Wash, perfume, massage, <deleted>

[Mac Mickmanus]

4 hours ago, RichardColeman said:

costs 470 million and takes 3-6 million a month ? Not sure I'd want a risky business , that would take potentially over 13 years to just get my money back before actually paying me a profit

After that time, you would have gotten your initial investment back and also then be the owner of a property worth 470 million , so, you would have doubled your money in that time frame 

[mikeymike100]

One of Bangkok’s most famous soapy massage parlours up for sale for 470 million baht

So is that price negotiable??

[steven100]

4 hours ago, worgeordie said:

and now ....?

regards Worgeordie

3 - 6 hundred baht per month

[steven100]

will they take a cheque by any chance ......

 

 

 

 

 

[natway09]

If we could incorporate a casino in there somehow  ?????

[mancub]

3 hours ago, BritManToo said:

It's actually "Ap, Op, Nuat, Nap" ...... but they rarely say the "Nap"

Which roughly translates as Wash, perfume, massage, <deleted>

Nothing better than an afternoon nap !

[Kinnock]

8 hours ago, RichardColeman said:

costs 470 million and takes 3-6 million a month ? Not sure I'd want a risky business , that would take potentially over 13 years to just get my money back before actually paying me a profit

Assuming a 20% profit margin (before tax and 'tax'), it could take even longer than that.

 

Could only make business sense as a money laundering operation.

[Kinnock]

6 minutes ago, Kinnock said:

Deleted duplicate post