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Auberge du Soleil, Swiss Restaurant and Hotel in booming Kampot, is looking for a new tenant.

URGENT: Having a Time Limited opportunity, I might accept to offer a nice discount on a Quick Deal.
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Low Rent Strong and Cheap Lease - Turn Key Established Business For Sale.

I recommend an experienced hotelier to continue on the excellent reputation we built over 5 years.

You get one of the most charming, beautifully restored, well located Colonial Corner House with a large terrace, and a year round profitable 3 guestrooms ( 1 room I currently use), established Boutique Hotel & Restaurant.

The contract is registered as Business Lease which is the most secure and fully protects the perpetuity of the Business (mandatory renewal/extension or compensation).
You have the right to sub-lease or sell the business keeping the actual conditions.
It as well gives the tenant of the lease the absolute priority to buy the house in case the landlord decides to sell it.

The low rental fee I obtained saves you about $50'00 over the coming near five years compared to the actual market rate : (Deposit $1'650 included)
$550/month until jan 2021
$625/month feb 2021 until jan 2024

I built it with heart, and I am proud proud of having reached this success with a wide spread word of mouth reputation of "Best Restaurant in Kampot».
I feel now the need for a new challenge.

The sale is «All Included» with a cheap and strong Business Lease.

The well trained and dedicated staff is willing to continue with the new owner.

Today I run it, tomorrow you run it and cash in.
I will be available and ease a smooth transition.


Have a look at it here :
-
- https://www.facebook.com/soleilkampot
- Pics https://www.facebook.com/pg/soleilkampot/photos
- https://goo.gl/maps/fsJX7ioyC432
- https://www.tripadvisor.com/Restaurant_ ... ml?m=19905

If you like it, it can be yours.

Estimated at USD $150'000 by agents (Lease, Location, Building, Surface, Figures, etc), I expect offers around USD $111'000 (negociable).

Contact :
855 88 88 20 245 (whatsapp)
[email protected]

NEW:
Choose between the very cheap 4,5 years left on actual lease, or
New affordable 10 years lease.

Lease Contract:
Option A) (actual)
Actual very low rental fee
$550/month until jan 2021
$625/month until jan 2024
(Deposit $1'650 included)

Option B) (New)
New 10 years signed with buyer of the Business
3 years $1'000/month
3 years $1'500/month
4 years $2'000/month
New deposit to pay $6'000.

So let me get this straight, you expect an offer of around 111000 for a 5 year lease on a building with a restaurant that sells raclette, and 3 guest rooms?

logos wrote:So let me get this straight, you expect an offer of around 111000 for a 5 year lease on a building with a restaurant that sells raclette, and 3 guest rooms?

Or, 192000 over 10 years for a building with a restaurant that sells raclette with 3 guest rooms.........

andy_morris wrote: ↑Wed Jun 05, 2019 6:55 am

logos wrote:So let me get this straight, you expect an offer of around 111000 for a 5 year lease on a building with a restaurant that sells raclette, and 3 guest rooms?

Or, 190500 over 10 years for a building with a restaurant that sells raclette with 3 guest rooms.........

I believe it'd be 110000 plus the 10 year rental cost of the lease you mentioned, thus a total over 10 years of around 300k. Oh, and let's not forget that 6k deposit.

Plus you might have to hire a cook as Cedric has been the chef himself so far, if I'm not mistaken. A good one, judging by the reviews. But I've got the feeling he might have done with some extra accounting classes.

Thee room rate is around 25 $ a night * 3 rooms * 365 days (100 % Booked all over the year) = 27.375 $ / year.

So in 10 years you just make with the rooms 273.750 $......turn over.....

It sounds like too much heart

Is the ownership of the villa included ?

logos wrote:But I've got the feeling he might have done with some extra accounting classes.

Thanks for the interest and comments.

So to answer the quote, I am not a specialist in accounting, but I manage to optimise costs and profits.
I am as well aware you ideally should break even with the investment in three years or less.
Profits are in every month year round, except when taking 2 weeks holiday in the same month.

So I personally would recommend the actual lease as very cheap, deposit included, and as registered as Business Lease (not a shop house where you can get kicked out...), the renewal rate should be aligned with the market rate at that time.
$36'000 saved on the remaining lease vs 10 years rate on the same period, and no new deposit to lay down.

Even at $1'000 a month, the rental fee is still $500 or more below the market price.
I negotiated hard with my landlord. When asked about a 10 years lease, her idea was $1'500 for five years then $2'000 five years with 6 months ($9'000) deposit. I have a good relationship with her and she finally agreed on my points, $24'000 + $3'000 on deposit saved for who takes it on the 10 years.

The questions being what will be the market rate in 2024 and how long you plan to run the business...
Do you prefer to imagine eventually selling the business in 3 (5) years on a generous offer as you would still have 7 (5) years left?
Or save now and take the responsibility (and bet) to negotiate a fair rental fee in 4,5 years?

OK, total would nearly be around $300'000 over 10 years.
Now my landlord estimates the possible sale value of her house at more than half a million now, probably 800K in 2 years.
For who has the finances to do it, buying the house is probably an interesting investment.
I as well could help in this negotiation.

By the way, the rent includes/covers my quite nice living space. How much is your home rental fee?

Actually, I consider the rooms to pay the fix costs (rent, electric, water, internet, tv, trash, 1 cleaner salary...)
Living in the house and appreciating my privacy, I, in some way limit the room occupancy in low season.
Rooms are nice and comfortable but with a little investment, you could raise their price level (actually about $25-35-45), and if you decided to live out of the business, have 4 rooms for rent as at the time of Soleil d'Or ($35-$55) https://kampot-cambodia.com/mainpages/P ... -d-or.html
Long stay guests are also a nice solution.

My restaurant runs on low margin, but high occupation.
The reputation is solid and widely shared. I stopped advertising on fb as not needed anymore to fill the chairs.
Location is very good and the charm of the house acts as a magnet...
I also kept my old habits of "The Sleeping Beauty", I still close quite early.
With the actual growth of tourism as the number of expat residents, and spreading of night life, I could suggest keeping open late night with limited menu.

In the early years, I trained my staff to cook my recipes.
My Chef is amazing how how she keeps a stable quality/taste, and other kitchen staff are trained too.
I go to choose my products at the market, then I supervise the service is doing right, the kitchen can follow, and that the guests are happy.
I take care of internet bookings, orders from importers, organize the maintenances...
As said, I fill the fridges, the staff does the magic!

The announced $111'000 is to Negotiate... and means I'm looking for someone Serious.
It's still cheap in comparison to most of what is on the market/what you get for your bucks.
My ideal target price has been confirmed as a fair deal by few other hoteliers.
Being kind of an idealistic person, "Who" will take it is maybe more important to me than "How Much" I get for it !
Waiting for offers, the right person with some cash can get it

A smart move tbh. Getting out while the going is good and before the Chinese arrive en masse.

The Chinese might love raclette too!

cedric.auberge-du-soleil wrote: ↑Thu Jun 06, 2019 4:06 am

So I personally would recommend the actual lease as very cheap, deposit included, and as registered as Business Lease (not a shop house where you can get kicked out...), the renewal rate should be aligned with the market rate at that time.

OK, total would nearly be around $300'000 over 10 years.
Now my landlord estimates the possible sale value of her house at more than half a million now, probably 800K in 2 years.
For who has the finances to do it, buying the house is probably an interesting investment.
I as well could help in this negotiation.

If the lease is correctly registered, the owner would be paying 10% witholding tax on the rental income. Is that the case with the current lease ?

Half a million property value sounds like the upper end to me. Those with the real money, Chinese and Khmers that sold other properties to Chinese, would want to knock it down and build up, which isn't allowed under the current local regulation.