FOR SALE: HOTEL FOR SALE - NAKLUA SOI 16, NORTH PATTAYA.

Based on recent sales of 30 shop lots (152/8-29 Soi 16), 400 meters down the road from Ace Lodge, opposite the Government Savings Bank.       

This valuation for Ace Lodge is on Land and building only and DOES NOT include fixtures, fittings, furniture, equipment,  2 businesses, the company & goodwill.

Background:

The property (Ace Lodge) in consideration has a 5 level building ( ground floor + 4 levels on top) on a land which is 296 sq meter in area. Each level is 120 sq m in size. An extension to the back of the ground floor is a work space plus maid’s room totaling *32 sq m. In front of the building is a single storey 55.5 sq m shop and next to it a garden & parking space of 64.5 sq m.

The property fronts Soi 16 which is a busy road connecting Naklua  Road to the Wong Amat Beach front.

COMPARATIVE DATA:

Ace Lodge is bigger in;

*** Let able area of building by 4.21 times (807.5 divided by 192) and

** Land size by 3.3636 times (296 divided by 88).

Valuation:

Taking the building and land price (of shop lot) as equal halves – ie. Baht 3.5 mil each.

Cost of Building = 3.5 x 4.21 = 14.735 million

TOTAL COST OF ACE LODGE (Building + Land only) valued @ Baht 26.5 million.

Facts to consider:

**All 30 Shop lots were sold out off plan by February 2012 before the buildings were all completed.

**The land @ Ace lodge is 350 meters to the beach while the shop lots are 800 meters to the beach. Thus land for Ace Lodge is more expensive.

** The owner will accept an offer to buy close to the market valuation of the land and building – ie near 26.5 million Baht.

** @ this price, the purchase comes with the bonuses of;  fixture and fittings,  furniture, equipment.       

Sale Price : 26.5 MB.