| Date | Header | Price | ||
|---|---|---|---|---|
-- Hotel/Guesthouse -- Southern Region
-- Phang-nga -- --
| Edit | |||
| 27/05/2006 | Beach Resort Phang Nga province |
55 000 000 | ||
| BKK11511G - The company that owns this Beach Resort on an unspoilt island in Phang Nga province is seeking a joint partner, to acquire 66% ownership, due to the intended retirement of the Managing Director (who would remain involved in the project, as his expertise would prove invaluable to the investor). The formerly pristine resort was badly damaged during the recent tsunami, and the partner is needed to help in the planning and execution of a redevelopment project. Of the 50 guest rooms and villas that were previously rented out for between 1,300 baht and 7,000 baht per night, only 22 bungalows (with 26 bedrooms) survived in good or repairable condition (these are member’s houses, owned by individuals and managed by the company). The company owns 24.5 rai (about 40,000 square metres, or 10 acres) of prime beachfront land in a quiet setting replete with birdlife and wildlife. This land is divided into two plots, and the company has plans in place to construct (on the 8.5 rai plot) 21 new bungalows and a new clubhouse, containing a restaurant, lobby bar, reception and other facilities, with superb views of the nearby islands; further bungalows could be built on the 16 rai plot the company owns, and the members houses could be additionally be managed as before, although this would have to be negotiated with the owners. Tourists looking to escape the big cities and crowded resorts were previously being enticed to stay here, and international yoga teachers booked every year to conduct yoga retreats; occupancy had risen to 50% in the high season in 2004, but marketing had driven up bookings by a further 20% for 2005 before the tragedy occurred. The owners believe that the area could boom within a few years, as tourism moves north from Phuket; due to the resorts proximity to the Surin Islands, they also believe it could draw a multitude of diving enthusiasts. A detailed plan has been drawn up, but the company is willing to entertain alternative development proposals. The land and assets (electric and water plants) have been valued at 55,000,000 baht, and the company is also willing to pass on these at market value to an interested investor who wished for 100% ownership. | ||||
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