Double Storey Bar for Sale in OTOP Market Patong

Patong, Kathu,Phuket

Double Storey Bar for Sale in OTOP Market Patong

Patong, Kathu,Phuket

Unit ID: U1955616

6 Bedrooms

1 Bathroom

216 SqM Indoor Area

Completed

Sale Price

£83,800

Street View

About This Retail space

This property is a 216 SqM retail space with 6 bedrooms and 1 bathroom that is available for sale. It is located in Patong, Phuket. You can buy this retail space for a base price of £83,800 (£388/SqM).

Bar for sale in Patong Phuket,

Everything is walk in walk out so what you see including everything in a detailed list below is included in the sale price.

This bar has been operating now for 5 years and is now up for sale as the owner is wanting to retire with proven sales figues.

This opportunity does not come around that much with a bar this size and the quality fitout it has.
This bar started as one bar and has grown into 6 bars all rolled into one big bar.

Nestled in a position in Patong with other bars around it this bar has resulted since opening to generate its own following with just on 2,200 people liking and following the page on facebook.

No expense has been spared with this quality fitout and being two levels the upper level has been finished but not opened yet so can either turn the upstairs into a vip section with bottle service or a go go bar section or private function area the opportunities are endless.

In the high season this bar generates between $500,000 - $800,000 Thai Baht per month gross and in the low season still sits at a healthy $200,000-$400,000 Thai Baht per month gross earnings.

This bars annual gross turnover is between $4 million to
$5 million thai baht per year and has proven figures to show this.

The current rent per month inlcuding electricity and security and also garbage removal is $46,350 Baht per month and this rate is locked in for 3 years so wont go up until current lease expires.

Key money per year payable is $150,000 Baht paid to the office onsite.

The detailed list is as followed that is included in the sale also: The bar is 11 meters long with a matching overhead. 2 sinks behind the bar, All tiled and new. Sound system has 2 main amplifiers , mixer box of 8 channels and 10 x 500 watt speakers.A complete stage construction is steel and 35mm compressed concrete top. Comes with lighting and a complete upgraded drum kit. Microphones and cables, mike stands and guitar stands ready to go.Some, but not all, of the fittings are as follows, 2x3 door fridges. 1 single door fridge, 2 ice chests, 34 nip poures attached to overhead.4 slate top pool tables. Approximately 30 fans throughout. 1 freezer. All alcohol will remain in the sale. Approximately 80 bottles of hard alcohol, 2 fridges full of beers and soft drinks and beers and cold towels in the ice chests.

This bar is a huge money earner so the sale price is for a quick sale.

Now to give you an idea 1 standard mushroom style bar in the area is selling for $800,000-$1,000,000.00 Thai Baht so this being 6 bars rolled into one bar should have a selling price of $6,000,000.00 Thai baht but the owner is not greedy and is looking for a quick and effortless sale and at the selling price will make thisa back in gross sales for one year with a net profit of over $2 million thai baht annually after wages and expenses and this is just from the bottom section of the bar if you open upstairs will increase profits more also.

The selling price is $3,650,000.00 Thai Baht walk in walk out. The only cost paid on the sale is the exchange of contract fees paid directly to the office by the buyer of upon settlement of $50,000 Thai Baht.Now the liquor licenses need to be put into a thai persons name as well as the contract for the bar being thai law but that being said we can help you set up a thai company if required and still have you as the bar owner so no problems a foreign person buying this bar,most bars in the area this bar is located is foreign owned.

Features

Rooftop Terrace

Fully Renovated (2019)

Basic Information

Date Listed Nov 13, 2024

Updated 3 weeks ago

Property Type Retail space

Bedrooms 6

View(s) N/A

Water Price Government Rate

Electricity Price Government Rate

Listed By

Private Owner

Unit ID U1955616

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