Sunbelt Asia Weekly Column
28 September 2018
Applications for Permanent Residency now open
Thai Immigration has begun taking applications for Permanent Residency applications will be accepted until December 28, 2018. Applications are limited to 100 people per nationality, those countries with several states, such as the United Kingdom, are considered as one country. Sunbelt Asia legal advisors can assist you in collecting all required documents showing your contribution to society, ensure all your Thai-language company documents are correct and complete and handle translation of documents. The process is rather complex so if you are interested in obtaining Permanent Residency contact us now to get the process started; email@example.com
Bangkok remained the top international destination in the world for the third year in a row according to the Mastercard Global Destination Cities Index with 20.5 million visitors in 2017 and is on track to see 9.06 percent growth in that number for 2018. Phuket and Pattaya also ranked in the global top 20 destination cities at 12th and 18th. The annual list looks at visitor volume and spending at the largest 162 cities in the world, taking into account both vacation and business travelers. London came second with 19.83 million visitors and Paris third with 17.44 million. Singapore and then New York rounded out the top five. Dubai led in overnight spending followed by Mecca, London, Singapore, and Bangkok where visitors spent a total of US$ 16.36 billion or an average of US$173 a day while Phuket broke into the top ten for the first time reaching US$10.46 billion or an average of US$239.
Airbnb has signed a partnership agreement with the Thailand Boutique Accommodation Trade Association (TBAA) allowing for Airbnb to bring boutique hotels to their global network of travelers. The company also recently signed a recent partnership with the Interior Ministry’s Local Administration Department to improve local homestays in provinces across Thailand. Airbnb has seen 1.7 million people in Thailand, bringing in 4 billion baht in revenues. T he partnership will provide more than 50 boutique hotels in 15 locations including Bangkok, Chanthaburi, Chiang Mai, Kanchanaburi, Krabi, Nakhon Ratchasima, Phuket, Prachuap Khiri Khan, Ratchaburi, and Sukhothai. They also issued a guide for five unique and creative neighborhoods around Thailand to highlight spots out of the mainstream tourist destinations.
Thai exports are predicted to peak this month to US$23 billion, September traditionally sees the highest export rate each year and this year is no exception, export growth is predicted to reach 9 percent for the year if September sees exports hit US$23 billion. The value of merchandise exports grew by 9.6 percent, excluding gold, and expanded in most items. K-Research revised its forecast for GDP to 4.6 percent, up from 4.5 percent due to higher than expected growth in the first half and the continued strength in exports and tourism.
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Please feel free to contact us if you are in Thailand on (+66) 02-662-7004 to discuss any of these listings.
Guesthouse in Great Sukhumvit Location
This guesthouse is in a great Sukhumvit location, just 10 minutes walk from the BTS station with 19 rooms, some ensuite, others shared bathrooms. Although it opened 13 rooms in the shophouse style building in July 2018, the business has already seen steady income and a small profit in the first two months. With new rooms just opened, incomes should increase, however, the owner has no time to manage the business. A dedicated owner with time to market and manage the business should see this guesthouse do very well.
There are 21 total rooms, including the staff room and store room, and the 3 year lease has a monthly rental of 70,000 baht. The rooms are basic but with everything new, the place has already garnered good reviews. There are two staff with a monthly salary of 24,000 baht. All fixtures, fittings, and equipment are included in the sale.
ASKING PRICE: 1.5 million baht
New Middle Eastern Restaurant on Sukhuvmit
This Sukhumvit restaurant is in a great location and offers Middle Eastern food and seafood in a new, fully equipped kitchen.
The business opened last year and has seen sales reach 18 million with profits of 1.8 million baht. There are 16 full time staff with monthly wages of 400,000 baht.
Rent on this 264sqm top location is 600,000 baht and the business has parking, a rarity in this part of Bangkok.
The new owner can take over the current concept or institute their own in this busy touristic location.
The owner invested 18 million baht in setting up the restaurant but has too many other businesses that take up his time and so is selling this business.
ASKING PRICE: 14 million baht
Silom Yoga & Fitness Center
This popular fitness center was established in 2015 and is located in the busy Silom area, not far from the MRT and BTS stations. This well-equipped center offers the latest in Pilates, yoga, yoga fly, Zumba dance, aerial hoops and piloxing; all the latest and most popular trends in yoga and fitness. There is an active social media presence with channels on Facebook, Instagram and others.
The center has a large 200sqm space with good views over the city. Rent on this prime location is 87,500 baht a month. There are 20-25 part time teachers at the center The fitness center currently has more than 1,000 members of which 295 are active..
Sales last year 5,800,000 baht. The sale includes all fixtures, fittings and equipment as well as a company with enough registered capital for one work permit.
The current owner has plan to move to abroad with the family. The business could easily increase sales and profit with an owner with more time to dedicate to the business.
ASKING PRICE: 2.75 million baht
Hostel near Terminal 21
In a prime location near Terminal 21 and the BTS and MRT stations, this 21 room hostel is set in 3 commercial buildings and can hold 102 people. The are five floors including the rooftop in each building. With five private rooms and dorm rooms with bunk beds, each building is equipped with lockers and separate male and female shower rooms and toilets. Every room is air conditioned and there is WiFi on each floor. There is also a rooftop water tank ensuring a steady supply of water. There is also a Southern Thai restaurant on the ground floor with a chef who is willing to stay on and work the restaurant.
The business has contracts with Agoda, Booking.com, HostelWorld, Airbnb, Expedia, Traveloka and other booking sites. Monthly rent is 270,000 baht a with a 9 year lease contract. The owner invested around 16 million in the business. All equipment, fixtures, and fittings are included in the sale including televisions, computer systems and restaurant equipment.
The owner is moving and so needs to sell the business.
ASKING PRICE: 15 million baht
Web Design Agency
This leading website design company has been in business for over 4 years and has an extensive portfolio including many international clients with a great network of clients and referrals.
The company has great SEO on their website and rank on the first page for professional website designers.
The business has very low overheads and can be run out of the home working with a freelance network.
The company has earned a great reputation for quality websites and saw sales of nearly 3 million baht in the last year.
The current owner is moving on to another project and has listed this business for sale.
ASKING PRICE: 1.4 million baht
Popular American Franchise in Bangkok mall
Located in a busy mall in a popular Western suburb of Bangkok this American franchise is well-known but the owner is forced to sell as he has no time to manage and grow the business.
A new owner could easily grow sales and profits with this popular franchise.
The 18 sqm restaurant is set in the food court of a busy mall and has a rent of 17 percent of gross profit. The business sold over 4.1 million baht in its first year and could easily grow with a dedicated owner/manager.
There are three full time employees with a monthly payroll of 29,300 baht. The business has made a profit of around 20,000 baht a month.
The franchise fee and deposit with the suppliers is not included in the sale price.
ASKING PRICE; 2.5 million baht
Well-known Koh Phangan Restaurant
Located on the popular island of Koh Phangan, this beachfront restaurant has main road access in the middle of the island between the two main ports and is surrounded by well-known and popular hotels and resorts. The business has a strong social media presence and even greater word of mouth through taxis, hotels and other businesses. In high season and peak season reservations are booked at least two days in advance, with requests received up to 4 months prior for peak season. The staff are highly trained and willing to stay and the owners are willing to do a handover for at least a few months.
Events are held at the beach bar such as live music and there is great growth potential including franchising. The property includes two staff rooms and a storage room as well as two restrooms, a car park, a point of sale system, all licenses including food and alcohol, and all equipment, furniture, and stock. The current owners have applied for a trademark on the name and logo and expect to include that in the sale. The business sees sales of around 17 million a year with a profit of 7 million. The landlord is a relative of the owners and is happy to extend the lease to the new owners.
ASKING PRICE: 20 million baht
Luxury Samui Island Beach Resort
Have you always wanted to live the life in paradise? Now is your chance! This exclusive luxury resort has direct access to the beach on the peaceful and idyllic west coast of Koh Samui. Samui has developed a reputation for top luxury resorts that attract people from around the world.
Established in 2008, the resort has two villas and four apartments, a pool and a large private home, guest villa and gym. The total land area is 3200 sqm fronting the beach with a full chanote title for the new owner.
The villas are large, at 118 sqm each, while the four apartments are 32 sqm each. The private mansion is an enormous 760 sqm while the guest villa is 75 sqm. There is a fully fitted 75 sqm gym as well.
Sales last year reached 3.8 million baht and there are four full time employees. The valuation of this project has been set at 195 million baht but the owners are keen to move off island for their childrens education so are selling it at a must buy price of 150 million baht.
ASKING PRICE: 150 million baht