1016001 Prime Hotel with Garden Bar Close to Chiang Mai Centre - Freeh

Prime Hotel with Garden Bar Close to Chiang Mai Centre - Freehold
Listing No. 066-10-16-001

• Business: Hotel
• Location: Chang Phrueak, Chiang Mai, Thailand
• Features: This central property is a fantastic opportunity for developing a business in Chiang Mai. The hotel is partly a beautifully appointed boutique hotel with 14 rooms (3 more can be renovated) along with a lovely garden bar and restaurant, and partly a 55 room student hostel along with 11 retail shops.
The hotel was placed under a long term (3+3+3) management contract in late 2018 ensuring guaranteed monthly stable income with no pressure on the new owner to operate the hotel business itself. This contract is fixed and stable, but may be terminated (if required) following a penalty payment.
The student hostel is a part of the same building, but not visible or accessible to hotel guests. These are almost all occupied as they are within walking distance is Rajhabat University. These student rooms are occupied all year round, is not seasonal and is very stable, fixed income.
Additionally there are 11 retail shops along one side of the building, all presently rented and occupied under medium to long term contracts.
Over all this is a mature and well-established business in a high density area, close to Tanin Market, the main road and the superhighway. It is just a little to the North of the Old City, just off the arterial Chang Phrueak Rd. The real estate value is a sure and sound investment in a busy area close to all amenities.
This property offers a fixed and stable income stream that ensures a respectable cashflow each month and year. Taken together with capital gain, this is an excellent investment for a medium to long term owner. The companies would be transferred to the buyers making the transfers easier. The asking price includes the business, land and all improvements.
• Tenure: Business for Sale (Freehold Property)
• Asking Price: THB 92,000,000
• More Information: Please contact us for more information (we require your name, phone number and e-mail address)