Robins Nest Up For Sale

[saints 0]

The Rockhouse is adding rooms, and its rented. I think one of thems an accident and emergency room Only joking Mulph.

 

Best not joke mate as he seems to have lost his sense of humour

[torrenova 644]

I know they might have various landlords for the different properties. I know that the same landlord owns from the corner, up to Bob's BBQ on that side. While it is the Lengkee family still, there are quite a few of the Lengkees around, so the areas might be split up between the families.

 

What you said does kind of sound like it makes sense though MM, as they were adding an additional floor to the building your referring to. I am certain that was being done to increase the value of the property, not sure if for rental or sale purposes though. Doesn't make much sense to build an extra floor on if you don't own the building though does it. And the place is in between Bob's BBQ and Lolita's. If it was for sale, I wouldn't be surprised if they were a cousin or inlaw of the Lengkees. There are 3 or so Thai run bars on that street still, so not sure if they own those properties as well.

 

And yeah, even 60k for a single bay over there is overpriced.

 

I wouldn't have thought that LK Metro was so fragmented ownership wise unless it was built and sold off piece by piece which is not what I was led to understand.

 

As for doing building work, then that is the nature of a commercial enterprise as opposed to residential. Why not if it makes sense ? but yes, you are effectively doing it for the building's owner and if you have any plans to buy the building, you should get your lease and a contract price based on the value prior to your additions and improvements.

[torrenova 644]

You're familiar with the salon/car rental shop just to the right of lolita's as you're facing it. I think the lady who owns it (or is trying to sell/rent it) is named Da. I talked to her a couple of years ago because my GF thought it would be a good deal for me to rent it (for her) for 80k/month. I told Da that was ridiculous and she came down to 60k. I checked around and the other units were going for between 25-40k/month...so I said "thanks, but no thanks".

 

Anyway, during the discussion, she told me that she could also sell the freehold to the place, implying that she (and her bf) owned it, not the Lengkee's. Then again, she might have been bs'ing me. I didn't really care. I think she was looking for 15M baht.

 

As you know, rent and key money go hand in hand so you'd need the key to work out the effective rent. As for 15m then she was dreaming. Well below 10m I'd have thought depending upon size and how well fitted out.

[MM 6,562]

As you know, rent and key money go hand in hand so you'd need the key to work out the effective rent. As for 15m then she was dreaming. Well below 10m I'd have thought depending upon size and how well fitted out.

 

Key money is not always required for a lease. I have been involved with leasing several business properties and none of them required key money.

[maahuanao 20]

BTW Have you decided on the date for your long awaited grand opening of you "Beach Front Hotel"? :D

[torrenova 644]

Key money is not always required for a lease. I have been involved with leasing several business properties and none of them required key money.

 

Agreed, as have I, but whether you pay rent only or rent and key money, it is effective rent in advance. Not a great deal of difference between 20k a month over 3 years or 10k a month and 120k key money each year or 360k key money every 3 years except for cashflow, risk (if there is any) and the time value of money.

 

I was just trying to highlight that the total cost over the lease period is "rent".