Colliers appointed for Thai golf course sale

PropertyGuru

13 June 2012 at 7:12 am

by Andrew BattColliers International (Thailand) has been appointed as the sole agent for the sale of the Sri Racha International Golf Course and Hotel development.The development is located between Bangkok and the popular seaside city of Pattaya in Chonburi province. Alongside the18-hole Gary Player-designed course, 12 of which have been finished, there is a 223-room hotel which is described as being between 40-50 percent complete, and with potential for redevelopment as serviced apartments, residences and individual villas.The hotel title is freehold whilst the golf course is available as either leasehold or freehold.Total estimated costs to complete the hotel and golf course are reported to be THB600 million (S$24.4 million) with an estimated market value on completion of THB1.85 billion (S$75.26 million). The freehold 'as is' price tag for the hotel and golf course is THB950 million (S$38.65 million). Related Stories:Singapore hotels show stellar rates, RevPAR: CBRESingapore buyers keen on Nusajaya projectsMount Elizabeth Novena: hospital or luxury hotel?

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