Koh Chang Restaurant, Bar And Bungalows

[SunbeltAsiaAdvisor]

Koh Chang Restaurant, Bar and Bungalows

Listing ID# BKK13922

2,400,000THB

BUSINESS SUMMARY

This business consists of a Restaurant, Bar and Bungalows, and is located near a tranquil beach on Koh Chang. The business sits on the main road in the centre of the village and is just five minutes away from the beach. Bar snacks and European dishes are served all day at the busy bar/restaurant, which features an American pool table. To the rear are three staff bungalows and six new concrete bungalows for tourists, with bathrooms and fans, set in lush gardens. Ample space exists to construct a further four bungalows.

The enterprise was set up around five years ago, when a very long lease term was negotiated; this does not expire until 2022 and there is then an option to extend for a further 15 year period. Rent is payable in advance every three years, when an amount of 200,000 baht needs to be met. This works out at roughly 5,555 baht per month. Rent is currently pre-paid until the start of 2011.

Annual receipts of 1,512,000 baht are yielding net profits of 832,000 baht, based on recent results, but forecasts for the current year would see these figures improve. Assets valued at 1,900,000 baht are included in the sale, and there are three full time employees in place, earning 9,500 baht per month between them. Utility charges are quite low, and normally come in between 2,000 baht and 3,000 baht per month. The owner is only looking to sell as he recently split up with his girlfriend. Asking price: 2,400,000 baht.

26th Floor Fortune Town BR, 1 Ratchadapisek Rd, 10400 Bangkok

Tel: 02-642-0213 Fax: 02-641-1995