35 Room Hotel Building in Distress to Renovate
This 35-room budget hotel building in distress is located just 2 minutes walking distance or around 100 meters from the white sand beach of Jomtien with a lot of water sport activities. All around that area are restaurants and all kinds of shopping and entertainment facilities. After a 5 minutes 10 THB drive by bus taxi, you are in Pattaya center and Walking Street 24 hours available. Suvarnabhumi Airport is a 1.45 hours’ drive.
Inside the at this moment this hotel building is in total distress is a large outdoor swimming pool with bar, the pool needs to be updated, a travel desk, a massage room and a Wine Restaurant and Coffee Shop. Before Corona it had an occupancy rate of 85 percent plus.
This was a successful budget hotel was standing for quality and good service, high standard; rooms can be bright and feature tiled floors. The tiles not need to be replaced because they are in a perfect condition. This hotel has a lift.
The property comes on a Thai name and is for sale in 2 options.
Offered in the bad shape it is now in as being distress, inside destroyed by looters who has stolen all cables and more, it is in need of a total make over and renovation, what you see is what you get for 58,000,000.00 THB plus half of the transfer taxes.
A very experienced renovation company from Pattaya is ready to start the renovation for this hotel building in distress into a 35-room high end boutique hotel from now on for a period of maximum 6 months to finish it up. The hotel can be partly open and operational in less than 3 months but fully renovated in 6 months’ time. The offer is possible for a total turnkey price for only 68,000,000.00 THB plus half of the transfer taxes.
The mentioned prices are completely NOT NEGOTIABLE!!! Buyers do not need to contact if they think discounts are possible.
The owner does not want to be contacted directly for this temporary offer and only will talk to buyers with money cash ready to pay in hand. Proof of funds is needed before viewing.
THIS BUILDING IS A GOLDEN OPPORTUNITY FOR CLEVER INVESTORS. THE SELLING PRICE IS LOWER THAN THE OFFICIAL VALUE OF THE 652 SQM LAND PLOT!!! AGENTS ARE WELCOME ONLY WITH POTENTIAL BUYERS, NOT TO LIST IT, IT IS PROHIBITED TO LIST THIS PROPERTY PUBLICLY IN THIS BAD SHAPE.