Korean Restaurant

Korean Restaurant

Location: Bangkok

Listing ID# BKK13928

400,000THB

BUSINESS SUMMARY

(UPDATE! The asking price has been reduced from 450,000 baht to 400,000 baht.) A Korean Restaurant in Bangkok has become available for acquisition as the owners have decided to return to Korea to raise their new child. The establishment opened in a busy street in a northern suburb of the city around two years ago, and consequently all assets are still in very good condition. Two storeys in a five storey property were secured on a rolling annual lease contract, and approximately 1,000,000 baht was spent prior to launch.

A good reputation has been built up due to the quality of the food, the range of the menu and the trendy atmosphere. The business saw receipts of roughly 1,700,000 baht yield net profits of around 240,000 baht in the last financial year after the deduction of all expenses. Results have been more modest recently as the restaurant closed for a brief period due to the pregnancy.

The ground floor features the restaurant and a terrace, with seating limited to 30 indoors and 13 outside. Sofa seating is provided on the upper floor which has been designated as a karaoke lounge, and total floor space for both storeys measures 165 square metres. Currently unused, the three upper storeys of the property could be secured by the new owner, if considered appropriate, for expansion purposes. The building is located close to two well attended universities.

Due to the urgency of the sale a very attractive asking price has been set. A renewal of the lease was only recently signed, meaning that it runs until the last day of 2010, at which time it can be transferred to the new owner subject to a three month deposit. Rent is currently payable at a rate of 23,000 baht per month, but this may need to be re-negotiated. New asking price: 400,000 baht.

[sunbelt][/sunbelt]