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Golf View Apartments Investment (Hua Hin) |
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| Description: |
INVESTMENT PROPOSAL – GOLF VIEW APARTMENTS HUA HIN
Location
Hua Hin is Thailands oldest seaside resort dating back to before the turn of last century. The railway stopped here bringing the first tourists from Bangkok to stay at the Railway hotel (now Sofitel). Its charm was quickly noticed by the Thai Royal family and their connection with the area also dates back over 100 years. The King now resides here permanently enjoying its peace and charms.
The area has seen a recent massive increase in foreign interest in the area. Holidaymakers flood in every year in ever increasing numbers and people wishing to relocate have had their demands met by massive development of housing in and around the area.
Construction of the new Black Mountain Golf course a few kilometers west from town is now well underway. It is scheduled to open in 2008 and is already reputed to be one of if not the best in Hua Hin and a strong contender for also being one of the best in Asia.
Several housing and condominium projects have started in the locality and, as a result, popularity of the area has increased and along with it land values have risen.
We have secured land which sits on a plateau overlooking the golf course which already has a natural Lake at the front (golf course) end. Fourteen land plots sit next to the Lakeside onto which we plan to construct various different style Villas will be constructed. Behind the Villas and enjoying a magnificent view of the golf course and the mountain vistas will be the Golf course apartments. The complex will have 64 apartments arranged in a single block of seven storeys high, 60 apartments each of 126 sq m living area with three bedrooms and two bathrooms, large living area, kitchen and balcony and four penthouses on the seventh floor. All apartments will be fully furnished and equipped with a European style kitchen. The complex will have full communal facilities and security.
Investor
We are very pleased to offer a full 50% participation in the apartment project at 2,300,000 baht per unit.
Investment details
Of the 64 units the investor would purchase half (32 units) at 2,300,000 baht per unit, a total investment of 73,600,000 baht. The investment would be paid in stages 10% at the outset and the remainder within 3 calendar months.
The investor would become 100% owner of each of the purchased units. Construction will commence within 120 days of the initial investment and would complete within 24 months.
The 60 regular apartments are presently being marketed at between 3.5m baht and 4.9m baht (floor dependent)
The four penthouses are each being offered for sale at 9.9m baht each.
Investment summary
Initial investment (acquisition costs) 73,600,000 baht
Unit cost 2,300,000 baht each
Revenue over unit cost per unit on initial sales estimated
at 20% of units sold off plan 700,000 baht 4,480,000
Revenue over unit cost per unit when show unit available
(10% price increase applied) estimate 30% sold 2,330,000 baht 22,368,000
Revenue over unit cost per unit when second 10% price
rise applied and 50% sold 2,410,000 baht 38,560,000
Estimated total revenue on 50% holding 65,408,000
Less
Marketting costs at 25% 16,352,000 baht
NET REVENUE 49,056,000 BAHT
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| Reference: |
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IP0001 |
| Price: |
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73,600,000 |
| Type: |
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Investment Proposals |
| Status: |
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Available |
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