This Phuket Guesthouse sits at Patong Beach, and has just reopened after being totally remodelled after the recent tsunami. It has 20 rooms that are available for guests at rates that start at 800 baht per night, and rise to 2,000 baht per night in high season; group bookings have already been placed for March and April. Rent is payable on the land at 80,000 baht monthly, but on a long lease that runs until 2010, and a 12 year plus 12 year option to extend. The business was previously taking in profits of 2,000,000 baht per annum from receipts of 8,000,000 baht. The owner established the enterprise in 1998, but now feels that he would like to hand over the reins as he has another business that he needs to concentrate his efforts on. The beach is only 100 metres away, and all the nightlife and shopping is within a short stroll. The structure that the new owner will acquire is two storeys, with tropical gardens and a swimming pool, and has been valued at 5,000,000 baht. Land rent payments are already covered, as two restaurants, a retail shop and two offices are leased out for an income of 90,000 baht per month (there is a further office that can also be rented out to boost income).
