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Bangkok Serviced Offices

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A prestigious serviced office centre in the heart of Bangkok's business district in Silom is now available for acquisition. The business is owned by a large corporate entity and is being made available for sale as the owners wish to focus on the core operations of the company, which lies in a different industry altogether. Under current ownership for the past 12 years, the serviced offices are fully furnished with common space and a variety of business services on offer. Located in a tower 50 floors in height, the business has an entire floor of office space spanning 1,303 square meters. The office space was previously occupied by a multinational organization and luxury furniture, equipment and decorative items have been installed. The business is located near the top of the office tower and boasts excellent views of the surrounding area, including the river. The current level of occupancy is 93% and the office rental rates are determined by size as well as the availability of window views. There are 14 parking spaces allocated to the business and these are rented out to tenants as required.

The offices are open 24 hours a day and there are 9 members of staff on hand to assist tenants, including a Manager, IT support, customer service staff and housekeepers. The total monthly payroll is 170,000 Baht and the other main business expense is the rent of 780,000 Baht per month. The business has substantial income from rentals and additional services offered, such as parking, international phone calls and fax processing to mention only a few. Receipts from 2010 totaled 17,000,000 Baht with a net profit of 1,000,000 Baht. The sale includes equipment and furniture including computers, desks, office chairs and luxury furnishings valued at 3,500,000 Baht. Setting up a serviced office centre of a similar size would demand at least a 10,000,000 Baht investment, whereas with this opportunity a new owner would see a regular income stream and positive cash flow from day one with a similar sized investment. The current owners believe that it is feasible for new ownership to increase rental prices to generate further income as rates have remained fairly constant over the years.

Asking Price: 13,000,000 Baht

BKK14174

[sunbelt][/sunbelt]

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

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

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