NEW LOWER PRICE!!! Bar in LK metro one unit shophouse next do Devils den. 6 rooms and bar. More info on 0800 956 555.

Asking price 650,000 rent 20,000/months. Key money paid until 03/2014

Great opportunity

How much is the key money payment, and how long is that for?

Hi,

 

Just a quick question,

 

Are the rooms and bar still furnished or has it been cleaned out?

 

Thanks,

 

Dave

can somewane get it march 2014 for zero ?

is it still for sale?

Can someone explain key money? - this is like the legal up keep or something?

 

What do you mean arjan someone can get it for zero in 2014?

Can someone explain key money? - this is like the legal up keep or something?

 

What do you mean arjan someone can get it for zero in 2014?

 

This explains key money pretty well mate...

 

Link

This explains key money pretty well mate...

 

Link

 

Thanks Serpentine,

I wouldnt mind looking into something like this, does it have to be 50/50 with a thai?? Or is it possible to get in foreign name.

 

Have you got any pics inside too please?

 

Thanks

Edited October 5, 201114 yr by stuey lil

Asking price 650,000 rent 20,000/months. Key money paid until 03/2014

 

i mean in march 2014 you can get it for zero ?

Edited October 5, 201114 yr by arjan333

is it still for sale?

 

I believe not

Can someone explain key money? - this is like the legal up keep or something?

 

What do you mean arjan someone can get it for zero in 2014?

 

Key money is a term chosen for that kind of pre-payment of rent to the landlord for a certain period of time. Normally, the landlord requests for "key money" for the term of lease, say 2 or 3 years. Of course, the landlord would also charge the monthly rent for the term of lease.

For example, the landlord asks for 150,000 Thai Baht a year and thus the key money is 450,000 Baht for 3 years lease. Then, the monthly rent is 20,000 Baht a month. For other units, the landlord may be charging 35,000 Baht a month without key money for 2 years lease or more.

 

Normally properties at a busy area will be rented out with key money payable.

 

In this case, the lease should be newly made for 3 years. Therefore, the key money has been paid up to March 2014. The tenant now wants to sell the business, so he sets the price with key money already paid up to March 2014.

 

For interested parties, they must check the terms of the lease about the renewal of the lease e.g. how much is the key money for the next 3 years ? how much is the new rent for the next 3 years ? They also need to find out whether the landlord will allow the seller of business to change the name of lessee in the lease agreement to the buyer's name. And if so, how much is that and who is going to pay for that charges ?

 

So, the answer is that it's not possible that any buyer of the business can get the lease renewed for no key money in 2014. Even if you want to pay the normal rent with no key money, the landlord is unlikely to accept this because he gets used to receiving a lump sum payment in advance whether or not you are going to rent the premises or not.

I can never understand why anyone would want to buy an obviously failed bar/guesthouse. What are you buying? Fixtures and fittings and the sign over the door, there is no goodwill. Rent an empty shophouse and do it up as you please to YOUR OWN spec. Everything will be brand new and it will still work out cheaper than buying into someone else's mistakes. Very stupid, or lazy, or both.

I can never understand why anyone would want to buy an obviously failed bar/guesthouse. What are you buying? Fixtures and fittings and the sign over the door, there is no goodwill. Rent an empty shophouse and do it up as you please to YOUR OWN spec. Everything will be brand new and it will still work out cheaper than buying into someone else's mistakes. Very stupid, or lazy, or both.

 

Just because a place is for sale doesnt mean its failed although i dont disagree with your point as to the worth of starting something new.

 

Pros and cons going either way.

Bar is sold now

I can never understand why anyone would want to buy an obviously failed bar/guesthouse. What are you buying? Fixtures and fittings and the sign over the door, there is no goodwill. Rent an empty shophouse and do it up as you please to YOUR OWN spec. Everything will be brand new and it will still work out cheaper than buying into someone else's mistakes. Very stupid, or lazy, or both.

 

Maybe maybe not

 

I think the new owner will get all his money back by xmas jmo

If he does he will only be the second owner in the bars long list of owners that has made a profit at sale. I hope he paid it's worth, around 250K.

I had always heard to way to make $100,000.00 on a bar in Thailand was to start with $4,000,000.00 :Drink4:

bottom line is, if u start making serious money from bars in pattaya. u will pay 4 it. its back handers all over the place. and the rushians r taking over.