Hotel near Thapae Gate for Sale, Chiang Mai. ฿400,000,000

HT002

    Hotel near Thapae Gate for Sale, Chiang Mai.

  Hotel located directly behind Thapae Gate is for sale. Thapae Gate is famous location in the very heart of the city which was said by locals to give good luck and prosperity to all those living behind it. The Hotel M is mid-sized and is well known for its outstanding service ethos and it was founded on the idea of ‘’Get more than you pay for’’. The occupancy rate is 80%.

ROI: The long term lease agreement equates to 300,000 baht per month.  You can start by signing the LOI and enclosing the bank statement or seeing bank approval.

Thapae Gate is surrounded by many bars, restaurants, shops and cafes with narrow lanes behind the hotel providing an ideal place to explore. Wat Chetawan and Wat Bubparam are also nearby and every Sunday the walking market takes place on the adjacent street. Moonmaung Road on the inside of the moat provides easy access to the rest of Chiang Mai and Chiang Mai International Airport is 10 minutes away.

Price: 400 Million Thai Baht ( 13.5 Million $) exclude all transfer fee
Stars: 3 Star
Rooms: 8X rooms
Rate: 2.500 - 2,500 Thai Baht
Land Size: 1 rai + ( 1,600 Sq.m +)
Location: Chiangmai City
Parkimg:
Details
Hotel in Chiang Mai is located behind the historic Tha Pae Gate, a signature of Chiang Mai. Tha Pae Gate is a trading post which was said by past locals to have given good luck and prosperity for those who lived behind it. A mid-sized business hotel in Chiang Mai's 'Old City'.Hotel M is dedicated to service above all else, and is founded on the idea of "Get more than you pay for".
Occupancy: 80%
ROI: By Meeting ( income Long lease agreements 300,000 THB/Month)
How to start: signed LOI and enclosed the statement or bank approve

This Property for sale or rent is in area of 

Chiang Mai Map Zone  2: Tha Phae & Night Bazaar 

@ Royal Process hotel Chiangmai, Thailand.

@ Ruk-Thai Guest House&Hotel Chiangmai

@ Imperial Mae Ping Hotel Chiangmai, Thailand.

@ Centara Duangtawan Hotel Chiang Mai

@

@ Boonmee Mansion

@ Rock Me Burgers(Rocking on Heaven)

Please let me know if We can do more to support this, feel free to tell us or welcome to our office inside Promenada Shopping Mall  'Realtorchiangmaioffice'  Building A ( Ground floor LG30 & Garden Zone  between Building A to Building B) or call to us                                                                                      
Mr. Paul Chuenchai    Mobile 082-191-0050
Ms. Esther Chuenchai Mobile 085-614-8205
Mr.Kanong (Deang)    Mobile 063-589-1419 
Office RealtorCM        Mobile 093-032-3738 

By Paul&Esther Real Estate Co.,Ltd 
@ IEA InstituteI of Estate Agents, Singapore Mr.Paul (MR.Bhumarin Chuenchai) / M’ship No: L00035 Certified Course in Marketing of Foreign Properties  (CCMFP; Thailand, Singapore, Malaysia, Indonesia, Philippine, Japan, China, Australia, New Zealand, India and United Kingdom)
@ Thailand RESAM ( Thai Real Estate Sales and Marketing Association)

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Metric System-Land Measurement

The Metric System was adopted in 1923 BUT old Thai units of measurements are still commonly used. "Talang". "Wah" and "Rai" are most commonly used. Talang means square. 1 Talang equals 1 square meter.

Converting units of measurements like "Rai" and "Wah" can be quite complex - may create legal issues.

Caution - know what you are buying based on Thai units of measurements.

THE MEASUREMENTS USING FOR LAND IN THAILAND
In Thailand, Land is measured in Rai, Ngan and Sq.Wah.
1 Rai = 4 Ngan or 1600 Sq.m.
1 Ngan = 100 Sq.Wah  or 400 Sq.m. or 4,304 Sq.ft.
1 Sq.Wah = 4 Sq.m. or 40 Sq.ft
1 Acre = 2.53 Rai  or 43,535 Sq.ft
1 Hectare = 6.25 Rai 
Land prices are usually expressed in Baht per Rai or Baht per Sq.Wah. 

Tenures (Title Deeds) : Chanote Or Nor Sor 4 Jor is most credible.Highest land Title - grants full rights over the property.Properties surveyed in accordance to national survey grid and properly marked.

House Book (Tabien Bahn)
A Ta.Bian.Baan or Tabien Bahn (house book), issued by the Thai government via their local municipality. It links a person having their domicile to an address and is Not proof of Ownership of Properties.
Two (2) types of Tabien Bahn: Blue book (Thor.Ror.14) for Thais; Yellow book (Thor.Ror.13) for Foreigners.

Foreign Ownership of Real Estate
Thailand Land Code, Sect 95, Foreign investors bringing in or investing THB 40 million (USD1 million) into Thailand can acquire land with a freehold title (not coastal property) for personal use, not exceeding *1 Rai (1,600 sq.m.) to be approved by the Minister.
Condition:
(1) Type of business which foreigners invest that will economically and socially benefits the country or which is declared by the Board of Investment as eligible for the application of the investment promotion under the law thereon.
(2) The period of maintaining the investment shall not be less than three (3) yeas.
(3) The land that the foreigners may acquire shall be within the locality of Bangkok Metropolitan Administration, the City of Pattaya, Municipality, or the zone designated to be the residential area under the law on city planning.

Freehold Ownership
If you are buying a Freehold title property, you will need to form a Company. You can be a Director of the company that holds the title to the property with complete control. When a foreign national has invested (USD$1 million) in stocks, securities, or companies, and has Board of Investment (BOI) approval, the BOI may recommend that the foreign national be permitted to hold a freehold title not exceeding an area of 1,600 sq.m.

Leasehold Ownership
Buying a Leasehold property means that you are getting a 30 Years Lease but in practice, Leaseholds can be obtained for a 60 year period using the “30+30” mechanism, whereby a 30-years lease is agreed between the freehold title holder and the lessee, that includes a legally binding extension contract for further 30-year period.
Except under special circumstances, foreigners or foreign juristic entities may not own land and are limited to ownership of 49% of condominium units as defined by the Condominium Act of 1999.

Other Types of Properties (less popular)
Any Lease or Tenancy exceeding 3 years must be in writing and recorded on the land ownership title deed. 
Any lease or tenancy longer than *3years must be registered with the Provincial Land Department, otherwise it cannot have any legal Effect.

Leasehold Period & Extension
Though Leasehold Tenure is generally 30+30, there are also Leasehold Tenure of 75 and 103 years.
For Example: Mahanakorn Ritz Carlton initially sold their units with 103 years’ Leasehold. A year later, the Developer purchases the Freehold land. They the Developer decided to sell the units as freehold land. Buyers who had previously bought units under have them converted to Freehold by topping up a certain percentage of money.

Foreigner can purchase condominiums or apartments without exceeding quota of 49% of foreign ownership. Funds must be brought in externally for property purchases. A *Tor Thor 3 or Tor Thor Sam document or a Foreign Exchange Transaction Form from a Thai bank is requires as proof of funds being transferred externally for property purchases by foreigners.

* Buyers must secure a Tor Thor 3 or Tor Thor Sam document or a Foreign Exchange Transaction Form as proof of their remittance or international transfer of funds (better in Thai Baht) for the purchase of property. Buyers are required to bring this document to the Land Department when effecting property transfer.

* Foreign Buyers can acquire Leasehold land for a period of thirty (30) years with renewal for another thirty (30) years.

Each condominium shall have aliens or corporate as indicated under Section 19 holding ownership in the units collectively not exceeding forty-nine (49%) percent at the time registration.

A joint venture formation; Special Purpose Vehicle (SPV) makes it possible for foreigners to acquire house and land.

For a SPV, max of up to *two(2) foreigners can be shareholders with majority of the rest (51%) being Thai.

* Thailand Land Code, Sect 95, Foreign investors bringing in or investing THB 40 million (USD1 million) into Thailand can acquire land with a freehold title (not coastal property) for personal use, not exceeding *1 Rai (1,600 sq.m) to be approved by the Minister.

Condition:

(1) Type of business which foreigners invest that will economically and socially benefits the country or which is declared by the Board of Investment as eligible for the application of the investment promotion under the law thereon.

(2) The period of maintaining the investment shall not be than three (3) years.

(3) The land that the foreigners may acquire shall be within the locality of Bangkok Metropolitan Administration, the City of Pattaya, Municipality, or the zone designated to be the residential area under the law on city planning.

Transfer of Property (from Developer)
For Developers’ Purchases for uncompleted projects, transfer takes place only upon completion of development.
Developers’ Properties that are already completed, transfer can take place once payments are settled.
Should there be remaining balance of the purchases price, it can be paid on the day of transfer at the Land Office.
For Resale properties, transfers can be effected at the Land Department, once both Buyers & Sellers had agreed to the terms and payments.

Transfer of Property
Taxes And Transfer Fees
Generally, Buyer pays for the Transfer fee and Seller pays for the Stamp Duty and Taxes.
Both Buyer and Seller may negotiate privately how the transfer fees. Stamp duty and taxes are to be settled and paid at the Land Office.
Both Buyer and Seller may also agree that the transfer fees, stamp duty and taxes be added on to the Purchase price.

How to inspect land through Paul&Esther Real Estate?
1. Due diligence on the property.
1.1 Check the property title, tenure, location, features and amenities.
1.2 Ascertain the details and specifications of the property, and get a better knowledge and understanding of the property and its surroundings by visiting the site.
1.3 If engaging third parties to do due diligence, ensure that the third parties are qualified to perform due diligence.
2. Due diligence on claims
The Conduct due diligence checks on claims related to the property

MORE INFORMATION welcome to "REALTORCHIANGMAI OFFICE" and feel free for our consult.

If you are interested in this property, do not hesitate to contact us to arrange a viewing or request further information.