Description

Owner retirement has prompted the freehold sale of this Chiang Rai Apartment Block. Established in 1999, the building has total floor space of 1,200 square metres, with 75 rooms occupying three storeys. All apartments are fully furnished, with ADSL Internet connections and UBC satellite television. Located close to the Ratchapat University, the building has proved to be popular with students, and is always fully occupied. This leads to annual receipts of 1,020,000 baht and net profits of 714,000 baht. The new owner will acquire the building and over one rai (1,600 square metres) of land, plus a car park with spaces for 50 vehicles. Two full time employees are retained, and they are paid 3,000 baht per month each.

Posted Jan 26, 2011

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