695,000,000.00 THB

(R008) Koh Samui Mega Project in Shell for sale Partly Running

Mega Shell Samui (1)

Samui Project for Sale: A combined mixed use Hotel, Resort and Condominium site on hillside of north Chaweng with some very good sea-views. Just over 14 Rai of Freehold land with some undeveloped footprints still. Hotel tower with 73 rooms of well above average size, with usual array of facilities expected for a 4 star premium sea-view hotel. Needs renovating and is offered in shell form.

The resort section consists of 21 townhouse villa style accommodations with restaurant and pool. This section of the development is still running with guests there all the time.

Of main interest here is the two unfinished condo towers that have over 100 private freehold condos to be sold on the open market when completed. Their combined sales value would be approx. 600 million alone. These will also be just about the only freehold condos on sale on the island when complete. They could also be converted in two residence hotel type blocks with no issues.

All permits, licenses and such like are in place, a high level of due diligence has been done. There is also a full KTAC valuation book with included business plan showing designs for a fully built up site value of 3.6 Billion Baht. This valuation was done in 2010 and stood then at around 772 million Baht.

This huge project is guilt in 2001 and will now be sold for 695M THB what is only 30,217.4 THB per m2, the total size is 23000 m2.

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