Guesthouse

Guesthouse

Location: Hua Hin

Listing ID# BKK14075

Price: 3,900,000THB

BUSINESS SUMMARY

Although this Hua Hin Guesthouse has been operational for over 20 years, the current owner has only been in place for around three months. Unexpected developments have now prompted him to consider a sale, however. The five storey guesthouse profits from having a prime location on a busy street close to major hotels in the centre of Hua Hin, where it sits just 100 metres from the beach. Rent is payable at a rate of 60,000 baht per month.

There are 10 rooms of various sizes, most with a balcony and some with sea views, and these are augmented by a coffee shop and a small bar. Renovations are currently being implemented: all the rooms are being redecorated, two flat screen TV’s were added in the bar, a sunbathing area was introduced on the roof and a new menu was launched. When complete there will be four double rooms, four single rooms and two rooftop rooms with private sundecks and Jacuzzis.

Renovations are around 60 percent complete; an entirely new plumbing system has been installed, along with four large rooftop storage tanks, a new pump to the risers and two new pumps to the rooms. The electric system has been revamped as well, with new load centres, safety cuts and an upgraded larger meter service. September 1st has been pencilled in as the anticipated completion date.

The owner is offering the business at his documented investment cost with no return on investment or compensation for his time end effort. Rent paid through to March 31st 2011 is included in the sale. If the buyer wishes to take over the business prior to completion, allowances for uncompleted work or installations will be made and deducted from the purchase price.

Asking price: 3,900,000 baht.

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