SOLD: 2 Rai of Land for Sale in Nai Harn

SOLD.

Two Rai of land for sale( 3,200 sqm), very well located on Soi Nanachart in Nai Harn.

The land has a resort on it which has been unattended for years but has a lot of potential. This was a fully functioning resort until a couple of years ago and the buildings are still on the land. 

The resort closed as the owner was living overseas and encountered management problems.  The resort features a main house and 21 bungalows, (4/5 bamboo, bungalows and the rest  concrete). 

During high season, the resort was fully booked and turned down 2-3 guests per day. The occupancy rate during low season was 65 percent. 

The restaurant and the bar at the resort brought in 20,000-25,000 THB during weekdays and 35,000-45,000 THB during Saturday/Sunday with special events. 

The land in the immediate area of the property is valued at 12-15 million THB per Rai which values the land itself at 25-30m THB. The owner is only selling at the land price and not accounting for any existing assets which are on the land. 

This would be a good investment for a first-time developer to Phuket in order to test the market with a smaller investment or an investment to diversify within a portfolio of investments. The land could be developed into a villa or condo property and sold for a short-term returned or managed for a longer-term income stream.