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Utopia - Ochheuteal Bar, Hostel, Club & 20 Shops For Sale

Posted: Wed Dec 30, 2015 5:39 pm
by Utopia
Unique Opportunity - Utopia Bar, Guesthouse, Nightclub and 20 Shops For Sale

* PRICE $520,000USD
* CUSTOMER DORM (130 BEDS), 2 STAFF DORMS (20 BEDS)
* 11 CUSTOMER DORM ROOMS, 3 AC (44 BEDS), 8 FAN ROOMS (86 BEDS)
* 3 PRIVATE ROOMS.
* BAR / NIGHTCLUB 600PAX CAPACITY WITH A BEAUTIFUL GARDEN SETTING
* SWIMMING POOL / SPA POOL PLUS POOL EQUIPMENT / GENERATOR
* 20 SHOPS TO RENT RETURNING A POTENTIAL $7000 / MONTH
* 6 YEAR CONTRACT REMAINING CAN EXTEND 5 YEAR MORE @ $5000 /MONTH
* CURRENT RENT $2000, INCREASING TO $2400 IN 2016 AND $3000 IN 2018
* INCLUDING $72,000 DEPOSIT ALREADY PAID
* 3 FOOD SHOPS CONNECTED WITH UTOPIA BUSINESS RETURNING $3000 / MONTH OR MORE IN HIGH SEASON
* LAND SIZE: 48 x 48m INCLUDING SHOPS. 70 X 60 TO THE ROAD EDGE

Contact James on 086 433 669 or [email protected]

Re: Utopia - Ochheuteal Bar, Hostel, Club & 20 Shops For Sale

Posted: Wed Dec 30, 2015 11:08 pm
by General Mackevili
Out of curiosity, what does a big place that have to pay in "tea money" every month?

Re: Utopia - Ochheuteal Bar, Hostel, Club & 20 Shops For Sale

Posted: Thu Dec 31, 2015 7:51 pm
by Raybull
General Mackevili wrote:Out of curiosity, what does a big place that have to pay in "tea money" every month?
That would depend upon how many druggie backpackers turn up dead in the pool!
Anyways this place is a shithole, the only thing keeping the business alive are the numerous rental shops. Once you factor in the near yearly rent increases, it's easy to figure out the potential profit over the near term taking into account an estimated loss of rent revenue in the low season, and that figure is much closer to the deposit than the asking price. No guarantee of an extended lease ar 5000$++ later on too! Anybody with half a mil to invest wouldn't even consider this dump with such a crappy lease. With any such big investment you'd want a minimum 20+ year lease with fixed rent price. Only an idiot would touch this given the current state of affairs there.

Re: Utopia - Ochheuteal Bar, Hostel, Club & 20 Shops For Sale

Posted: Thu Dec 31, 2015 9:52 pm
by Jamie_Lambo
Raybull wrote:
General Mackevili wrote:Out of curiosity, what does a big place that have to pay in "tea money" every month?
That would depend upon how many druggie backpackers turn up dead in the pool!
Anyways this place is a shithole, the only thing keeping the business alive are the numerous rental shops. Once you factor in the near yearly rent increases, it's easy to figure out the potential profit over the near term taking into account an estimated loss of rent revenue in the low season, and that figure is much closer to the deposit than the asking price. No guarantee of an extended lease ar 5000$++ later on too! Anybody with half a mil to invest wouldn't even consider this dump with such a crappy lease. With any such big investment you'd want a minimum 20+ year lease with fixed rent price. Only an idiot would touch this given the current state of affairs there.
Agreed its a hell of a lot of money to invest in a business that is rated only #153 out of #195 Guesthouses in Sihanoukville with 78 out of 132 reviews saying their experience was Poor/Terrible.... http://www.tripadvisor.co.uk/Hotel_Revi ... vince.html

the set up has a lot of potential though, but needs some work for sure...

Re: Utopia - Ochheuteal Bar, Hostel, Club & 20 Shops For Sale

Posted: Thu Dec 31, 2015 10:05 pm
by Raybull
Jamie_Lambo wrote:Agreed its a hell of a lot of money to invest in a business that is rated only #153 out of #195 Guesthouses in Sihanoukville with 78 out of 132 reviews saying their experience was Poor/Terrible.... http://www.tripadvisor.co.uk/Hotel_Revi ... vince.html

the set up has a lot of potential though, but needs some work for sure...
It needs so much work you'd be better off tearing it down...It's a reflection of the state of the owners I guess you could say. Plus it's gonna lose alot of frontage in the near future. They should have sold when they renewed the lease a few years back. If you want to see properly run businesses just look across the street at Big Easy and Monkey.

Re: Utopia - Ochheuteal Bar, Hostel, Club & 20 Shops For Sale

Posted: Thu Dec 31, 2015 10:17 pm
by Jamie_Lambo
Raybull wrote:
Jamie_Lambo wrote:Agreed its a hell of a lot of money to invest in a business that is rated only #153 out of #195 Guesthouses in Sihanoukville with 78 out of 132 reviews saying their experience was Poor/Terrible.... http://www.tripadvisor.co.uk/Hotel_Revi ... vince.html

the set up has a lot of potential though, but needs some work for sure...
It needs so much work you'd be better off tearing it down...It's a reflection of the state of the owners I guess you could say. Plus it's gonna lose alot of frontage in the near future.
the pool is a big pulling power for the guesthouse and i whenever i speak to people about their stay there they nearly always say that they booked there because it had a pool, but most people always regret it due to set up of the dorms, where people have to walk through other peoples dorms to get to their dorms (apparently ive never stayed here) so people often find other durnk people in their beds or worry about their belongings, the beds have been plagued with bedbugs for at least the past 3 years to my knowledge, the bar area seems to be getting more and more run down, used to pop in there 3 years ago as i used to meet some friends there (one who worked there) but barely been since, actually popped there once in january to meet some friends who were in town, but left after 1 drink as the beer tasted awful and watered down :(

Re: Utopia - Ochheuteal Bar, Hostel, Club & 20 Shops For Sale

Posted: Thu Dec 31, 2015 10:57 pm
by Username Taken
When I was in Snooky last week, a guy came along the beach handing out flyers for some event at Utopia. He seemed to indicate that he would be happier with the backpackers 'out' and the tourists 'in'.

Re: Utopia - Ochheuteal Bar, Hostel, Club & 20 Shops For Sale

Posted: Fri Jan 01, 2016 6:33 pm
by juansweetpotato
Well it's not cheap, that's for sure. But look at the location. An amazing corner property right in the heart of tourist town. It's a prime site for someone to develop with a lot more to invest that i/2 a mil. I am constantly surprised at how much money is being dropped around SNV by foreigners wishing to invest. I'm definitely no expert but it does seem crazy money in the current climate. A lot of old timers have told me that SNV is a lot more lawless that PP. Some really big developments down there now that have sprung up over the last few years.

Surprisingly, there does still seem to be a backpacker market down there, but last season seemed to be a lot quieter around Beach Road that the previous 2 or 3 years. Most young people seem to go straight to Otres (there was supposed to be a bus directly to Otres starting up), then the Islands, then back to Otres, then out, nowadays. I guess they may be room for Beach Road backpackers though, but I can maybe see that whole zone going up market to fit in with all the big hotels springing up near there.

Re: Utopia - Ochheuteal Bar, Hostel, Club & 20 Shops For Sale

Posted: Fri Jan 01, 2016 6:42 pm
by SinnSisamouth
Username Taken wrote:When I was in Snooky last week, a guy came along the beach handing out flyers for some event at Utopia. He seemed to indicate that he would be happier with the backpackers 'out' and the tourists 'in'.
Tourists as in Asian?
I don't think any place in that area could survive just on tourists, assuming they'd want to go there in the first place.

Expats won't go there. Tourists (Asian, families) and they don't want backpackers. Who's left!

Re: Utopia - Ochheuteal Bar, Hostel, Club & 20 Shops For Sale

Posted: Fri Jan 01, 2016 7:56 pm
by Username Taken
SinnSisamouth wrote:
Username Taken wrote:When I was in Snooky last week, a guy came along the beach handing out flyers for some event at Utopia. He seemed to indicate that he would be happier with the backpackers 'out' and the tourists 'in'.
Tourists as in Asian?
I don't think any place in that area could survive just on tourists, assuming they'd want to go there in the first place.

Expats won't go there. Tourists (Asian, families) and they don't want backpackers. Who's left!
No, I mean tourists as in visitors from other countries that go on vacation abroad.
Backpackers are travellers.
Tourists are people who go on holiday then return home and back to work. These people may be a couple from the UK, or an expat family from Phnom Penh or Bangkok, or, so many more possibilities.

What I think he meant was that he wanted a better class of clientelle.

:beer3: