Backpacker’s for sale – Riverside, Phnom Penh $59,000 (NEW PRICE $44,000 neg)

[jaggop]

A backpackers/bar/restaurant/coffee shop is for sale in the heart of Phnom Penh. Perfect location metres from the popular Riverside area. It is nestled between the local Kandal Market and the busy Riverside promenade. Minutes from The Royal Palace, National Museum, Night market, Wat Phnom & other attractions.

We are a popular bar serving travellers, locals and expats. We started selling high-quality coffee about a year ago and breakfast servings about 2 years ago. There is potential for running a restaurant as the kitchen is equipped with oven, microwave, burners and so forth.

We are open every day from 6 am to 11 pm (and stay open a bit longer if there are customers) and employ 6 staff members, currently looking for a 7th.

We also sell bus/boat tickets generating a minor, but close to work free, profit.

The hostel end of the business has 4 floors with 10 private rooms & 1 large dorm room.

5 x rooms have air-con and fans, 5 x rooms have fans only – the dorm has air-con and fans too. In total, the hostel has 28 beds, with a maximum of 36 people staying. Wi-fi is powerful; a large line and brand-new routers on every floor (three on ground floor).

4 x single rooms
2 x double rooms
2 x Twin rooms
1 x balcony large family twin room
1 x small group room (2 x bunk beds)
1 x mixed dorm (6 x bunk beds)

12 x bathrooms (hot water)
1 x bar
1 x kitchen
3 x storerooms

A refundable deposit of $5100.00 is included in the sale price of the business.

All fixtures, stock and equipment come with the sale of the business.

Selling because one owner needs to return to Denmark soon.

We are a business with a prime location and enjoy a high occupancy rate. This is an exciting business to run for the right person who wants to run their own business and have a new lifestyle. Training and full support will be provided, by the sellers but also by our very competent staff. The right person can make a good profit on this place (we have, however, invested too much to get large profits).

Please call at +855 87 75 33 64 for more information (or ask here, of course).

[phuketrichard]

Finally an ad with good photos and all the info needed>

good luck

[Duncan]

Finally an ad with good photos and all the info needed>

good luck

Some of the most important info is missing. Term of lease and amount paid.

[jaggop]

Some of the most important info is missing. Term of lease and amount paid.

Thanks, great point (I knew I forgot something). There is about 4 years left on the lease, fixed at $2,000 a month.

[Duncan]

jaggop,,, I will help you out here by tell you of my experience of owning and running my own backpackers accommodation for 8 plus years.

It was one of the best experiences in my life , meeting lots of very nice people, only a very few bad ones,, but I'm sure you already know that.
It's not a bad business to be in if that lease is renewable for another 5 years.

[IraHayes]

It's not a bad business to be in if that lease is renewable for another 5 years.

Too many hostels and not enough guests.... most are crippled by the rent.

[Duncan]

It's not a bad business to be in if that lease is renewable for another 5 years.

Too many hostels and not enough guests.... most are crippled by the rent.

Yes, will agree on that , and that applies to all rents, but there is a reason rents are high. If you owned a building valued at million dollars, what return on your money would you expect. 5 %,,,, 10 % ?
The owner of the building would have to expect either a lower return on his investment or have the market valuations of property come down to justify a lower rental return.

[Paulo]

Is this the same place as topic13432.html?

[jaggop]

Is this the same place as topic13432.html?

Yes, but with new furniture, new ACs, a coffee shop outside and other changes - oh, and a new name

[Paulo]

Is this the same place as topic13432.html?

Yes, but with new furniture, new ACs, a coffee shop outside and other changes - oh, and a new name

It looks better now. Pretty good reviews on booking.com and tripadvisor too.