Fantastic Island Resort for sale near Phuket, Thailand - Rare piece of real estate for sale in Thailand - Tempting Thai Island Property for sale
This island for sale is simply one of the very best opportunities for the development of a 5 star resort in southern Thailand.
The property for sale is one of the very few private island available for sale in Thailand, and the only one that is for sale that is already a fully developed resort.
A place like no other, The Temptation Island Resort is the sole occupant of this magical island paradise. The shady palm trees, cool breezes and perfect serenity are just waiting for you to discover. White sandy beaches – calm turquoise sea – cool breezes – lush vegetation. Temptation Island’s lush tropical vegetation, cool forested hillsides and cool breezes has rightly earned it the reputation as ‘The Island of Beautiful Forests’.
The resort property boasts the whole island to itself and there are no tour operators offering day trips to this island. For a world of your own, this is the perfect choice. The Resort has the only land title issued for this island and the remainder of the island is vacant land under the jurisdiction of the Provincial Authority. Written confirmation from the Thai Forestry Department confirms that no encroachment has been made into Thai Government land. The land has an irregular shape, with a frontage of about 1 kilometer onto the sea and an average depth of 100 meters. The East facing beach has views out to the islands of Phang Nga Bay.
The island property for sale has also regularly hosted the Thai Princesses (daughters of HM the King) and many high level diplomatic groups, and has also just recently been used as the main location for a 12-part TV series called "Temptation Island" which will air on Dutch and Belgium TV
THE RESORT
The Resort was opened in 1990 and occupies an area of around 82,752 Sqm. on a prime beachfront location with all the villas having either a beachfront outlook or elevated ocean views.
The Resort property originally comprised a total of 75 free-standing villas with 58 of these being one-bedroom (99 Sqm.) and the remaining 17 being two-bedroom (123 Sqm.).
During extensive renovations in 2001, the majority of the original villas were divided to form junior suites and the total of accommodation units at the resort is now 132.
The Resort has been leased to an Italian tour operator for the past year but the owner is now finalizing the lease termination and the Resort will be sold free of any obligations or prior contractual commitments.
The Hotel itself has 135 keys, employs 150 staff and 5 staff permanently live on the island and the others commute daily. This includes the boat captains and drivers. They currently use speedboats and an 80 passenger boat to ferry staff and guest back a forth to the deep sea port. The resort now rents 2 Rai of land and office facilities from the deep sea port which they have mooring/docking space for two big vessels which if you double up you can have 4 boats. This area is used for parking, a reception, laundry, fuel storage, loading the quest and stores for the island. They pay Baht 150,000 / month which any news owners could continue.
DEVELOPMENT POSSIBILITIES
This is an extremely rare commodity, the chance to purchase an entire private island off the coast of Thailand’s major tourism centre. The island property for sale is strategically located off the beautiful East coast of Phuket, the nexus of tropical development in South East Asia and renowned as a holiday location around the world. Just owning the complete island would be a wise investment, with land at a premium now in Phuket both in terms of supply and price. From a wider perspective, there are not many opportunities in the world at this time, to own a private island suitable for development with a perfect location and competitively priced. The rich and famous from all over the world, who already visit Phuket on a regular basis. Only 35 mins from this island, the famous Hollywood actor Bruce Willis has opened a boutique hotel with the official opening in early 2005. Already his guest list for the grand opening with many Hollywood stars in attendance.
Despite it's long sections of undeveloped coastline, Phuket has very little titled beach front land to buy or build on. It has long been the Land Department's policy to restrict issuance of new land titles in forested areas and on land adjacent to rivers and oceans; now recent amendments to the building code severely restrict construction within 50 meters of the waterfront. As a consequence development on beachfronts in Thailand is extremely difficult. However, all the hotel rooms etc. are located on the beach with only a few meters setback. You cannot duplicate this anymore in Thailand as the new setback rule is now 50 meters. You could basically tear down the existing buildings and rebuild with no new building permissions.
The resort was built in 1989 and refurbished in 2000. Resort is now a bit 'tired', having been constructed in 1989 with a refurbishment in 2001. Most of the original 1, 2 and 3 bedroom villas were 'split' in 2001 in order to provide more 'keys' and the splitting of the villas was not very well done - dry wall construction and conversion of the original kitchens into bathrooms. To bring to 5 star quality it would be necessary to convert the villas back to the original sole villas and refurbish.
Other necessary work would be the installation of a de-salination plant, refurbishment of jetty and the current 3 restaurants and 3 pools. Estimates for this work vary enormously, depending upon the amount of re-building or additional villas and spa facilities that may be required to fit a new 'theme' and the amount of materials that would be imported.
BUSINESS POTENTIAL
The resort definitely needs upgrading, but the ROI will be very high as this is probably the only island in southern Thailand that can be relatively easily developed, and development can be done on the foreshore.
The resort is currently operating at a 3 star level and (with 135 'keys') is getting a room rate around 120 US$ a night with 80% plus occupancy. Due to its privacy and accessibility to Phuket the island lends itself to development of a 5 or even 6 star resort. Major hotel companies who have seen the resort have estimated $5-8 million USD for this sort of 5-6 star upgrade. An upgraded resort could easily achieve US$ 450 night and at least another 50 more villas or suites could be constructed on the land. Based upon that kind of development the returns could be very significant.
Phuket has an international airport, capable of receiving Boeing 747 aircraft and handles more than 2 million passengers a year inbound and the same outbound. 5 domestic airlines service the route from Bangkok and other domestic airports and there are around 12 international airlines with direct flights from Singapore, Malaysia, Australia, Taiwan as well as charter flights direct from Europe. Phuket hosts more than 3 million visitors a year and the arrivals this year are more than 20% up on last year. Apart from airline traffic there is a considerable volume of visitors arriving by boat, bus and car. Phuket is one hour flight south of Bangkok, which is a very major international hub.
AREA VALUE
Phuket has become the most sought after location in Southeast Asia for people looking for a “lifestyle” (as opposed to a “house”) in a lush, tropical environment. There are over 12,000 expatriates living in Phuket. Thailand has recognized the necessity of improving the infrastructure to support the growing demand for improved telecommunications, schools, medical facilities, roads and utilities.
Other locations in Asia are now seen by many to be unstable and unsafe. Thus Thailand and particularly Phuket has become the most sought after location in the entire region. Property prices have doubled since 1995 and are currently enjoying annual appreciation of nearly 25%.
Together with Phuket, Krabi and Phang Nga comprise the Andaman Triangle, a major location for marine tourism and the gateway for trade to South Asia. Each year about five million foreign travellers visit these three provinces, making them the hottest destinations in Thailand. Because of this land prices have been dramatically increasing in Phuket during the last few years. Expect to pay around $320 per Sqm in south Phuket with land prices increasing by more than 100 per cent since the start of this year.
ACCESSIBILITY
The Temptation Island Resort is located just a few kilometers off Thailand’s largest island, Phuket. Nestled in the sparkling pristine waters of the Andaman Sea, Phuket island is linked to the mainland of Thailand by 2 road bridges at the north of the island and by a one hour flight from the Thai capital, Bangkok. Phuket International Airport is also served by regular flights from many other international cities.
Features Include:
* Accessible year around by boat 24 hours a day 365 days a year.
* Seaplane service can take off from Phuket international airport and land on floats at the island.
* The island has a DOA licensed helicopter pad
* Speed boat takes approximately 15 min to the main island of Phuket
* Larger boats take about 40 min.
* Draft at low tide at the pier is about 1.20 m
* A 300 ton barge delivers the water at the moment every two days
* Barges deliver approximately 150 tons of water per day, the charge is Baht 110 per ton
* 600 ton water storage tank that gravity feeds the resort
* Water purification Plant on site in which they bottle their own water
* Option to purchase 250 Ton declination plant at 8 mil Baht which would pay for itself in a short period of time
* 3 x 500 KVA generators, which two run constantly one always on stand-by, fuel cost about 1.5 mil Baht every month
* 10 Land lines via microwave with a high-speed data download link for high speed internet
* Cellular network coverage on the island
* Sewage treatment plant
* Has 20 resident dolphins living there in one of the north bays
* The west end of the island has natural soft coral which has recently been re-seeded by the dept of fisheries.
* There are clams and sand sharks
* Abundant number of fish around the island, which the island catches and use for its restaurants
* No fishing is allowed by the local fisherman.
* Walking tracks all over the island.
* There is a jeep track that goes from the resort to a secluded bay on the other side of the island
* In that Bay you could put another pier which would have a direct run to Phuket
* Fixed concrete pier about 100+ m long with a breakwater
* 3 swimming pools
* 1 indoor for the diving center
* 1 infinity edge
* 1 large main pool
This exclusive piece of Thai real estate is for sale at US$30,000,000
