Property News · July 7, 2016

Royal Phuket Marina is on the market


A rare opportunity for developers
Royal Phuket Marina
Royal Phuket Marina, one of Asia’s leading yachting facilities, has been put on the market, it has been announced today.
The marina, which was developed in 2005 by entrepreneur Gulu Lalvani includes 110 wet berths and a hardstand for 40 boats. Also included in the sale is a total land area of approximately 200 rai (320,000 square metres). Only one third of this has been developed so far.
Jones Lang LaSalle will handle the sale as exclusive advisors, through an expression of interest campaign ending September 2016.
Mike Batchelor, JLL’s Managing Director of Investment Sales Asia commented:
“The Phuket hospitality market continues to be a focus of investors globally and we are anticipating very strong interest in this asset, particularly given the significant future development angle that it offers. Rarely does such a large land holding with extensive master planning and existing infrastructure come to market in such a prominent location and sought after investment destination.”
The award winning property is strategically located on the east coast of Phuket, and benefits from a 30-minute drive from the airport and excellent access to the island’s main arterial road. It’s also within easy reach of many of Phuket’s main attractions.
More: Coming out in droves: Chinese property investors flock to Phuket
Speaking of the sale, Mr Lalvani said in a press release:
“Royal Phuket Marina is my passion and since opening over 10 years ago I have worked tirelessly to promote yachting in Thailand and make Royal Phuket Marina a leading waterfront destination in the region. With still so much untapped potential, I am keen to find a buyer who can take Royal Phuket Marina to the next level and realise my dream of making this property a world-class integrated lifestyle destination.”
A representative for Mr Lalvani told us that there is no urgency to sell:
“Mr. Lalvani is looking for the right buyer. Someone with vision to take Royal Phuket Marina to the next level. Mr. Lalvani believes in the strong potential of Phuket and of Royal Phuket Marina, and to this end has invested in an innovative Master Plan for the next phase of development. This can be a blueprint or a source of guidance and ideas for a buyer, showing how the property can be further developed for the benefit of Phuket’s tourism and marine industries.”
The representative also explained the reason for selling:
“Mr. Lalvani would like to spend more time enjoying his passions of yachting and travel, as well as spend more time with his family, therefore, he has decided to put Royal Phuket Marina on the market for sale.”
Earlier this year, Property Report had the pleasure of interviewing Gulu Lalwani. He explained why he chose Phuket for his development:
“For me, Phuket had all the elements for the perfect yachting destination. I saw an immense opportunity in Phuket – one that no one else had yet pursued. Royal Phuket Marina is the result of my ambition to put Phuket on the map as an international yachting and lifestyle destination.”
He has certainly achieved that.
Read next: Crackdown on Airbnb style holiday rentals in Phuket

Source : property-report.com
Read more…Royal Phuket Marina is on the market

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