Seeking To Buy 15-25 Room Hotel

[Indo-Siam]

On behalf of a Scandinavian investor, I've been requested to try to locate a 15-20 room guesthouse or small hotel for sale in the Pattaya/Jomtien area - and reasonably close to a golf course (with being close to golf being more important than close to beach).

If anyone has any ideas, I would welcome a referral. Pattaya is outside my normal focus area.

Thanks.

Steve Sykes

Managing Director

Indo-Siam Group

Bangkok

[email protected]

www.thaistartup.com

[bkk barney]

cheaper to buy the land and build himself, land on the outskirts of pattaya and jomtien 800,000baht per rai, obviously small plots work out more expensive per meter if bought as a small plot, so he could sell off excess land at a higher price, building costs about 6,000baht per square meter, plus then its done to his design and doesnt have to face renovation costs.

[Up2U]

cheaper to buy the land and build himself, land on the outskirts of pattaya and jomtien 800,000baht per rai, obviously small plots work out more expensive per meter if bought as a small plot, so he could sell off excess land at a higher price, building costs about 6,000baht per square meter, plus then its done to his design and doesnt have to face renovation costs.

Surely to buy land one must have company - majority Thai shareholding, etc. To buy an existing building one can rent from the land-holder.

Possible to do same with new building, I suppose - find some land-holder, or someone willing to become a land-holder, sign long-term rental agreement, then build. But one also has to deal with connection of utilities, planning permission (there is such a thing ) and so on.

If the investor is looking to retire and run everything himself, fine, he'll have the time and opportunity. If this is a long-term thing, then he's better buying an existing property and putting in a good manager. (I'm available in about eighteen motnhs )

[bkk barney]

up2u. if someone is willing to invest in a 15 to 20 apartment place im sure they can spring for the 20,000baht fee to set up a company, in which they will own 49 percent and the thai lawyer and his friends will own the balance for which they have already signed papers giving the ownership to the buyer.

up2u how do u think most farangs own their own properties here? yep they pay the 6,000baht company tax per year, no i aint talking about condos. pls try not to make urself appear stupider than u really are.

anybody can lease land for upto 30 years,

anyonecan lease buildings for upto 30 years.

in that investors situation he is not better off buying an existing building or renting an existing building, as the building will be no where near up to the specs expected by ppl on golfing holidays, white golfers do not use squat toilets nor shower in cold water, in fact i should imagine that even thais that play golf do not use squat toilets or cold water showers.

Edited September 10, 2004 by astral

[bkk barney]

Comment deleted.

Astral

Edited September 10, 2004 by astral

[Indo-Siam]

Thanks to all who tookthe time to add their thoughts. I received several private messages that also helped.

I will meet on Thursday with an intermediary between myself and the client, to try to sort out how "solid" this investor's intent really is - and how big a bankroll is available.

The general consensus was: Not too many hotels away from the beach areas - if this is the goal, maybe have to buy land and build.Alternately - shift focus to beach area.

Thanks again!

Steve Sykes

Managing Director

Indo-Siam Group

Bangkok

[email protected]

www.thaistartup.com

[MadFrankie]

Theres an absolute sh1t load of unfinished condos/apartments along Jomtien

[simon43]

Alternatively, buy a hotel near the beach and plant a load of fast-growing grass seeds on the sand one night