Freer is proud to present this rare opportunity to purchase a long-term lease and a successful restaurant business in a prestigious location in Riverside. The owners are seeking other business ventures and are reluctantly selling.
The business itself is located on a corner property on Sisowath Quay, Sras Chork opposite the future site of one of Phnom Penh’s biggest and most exciting new projects with 5-star hotel, offices and apartments.
The property is ideal for many activity types (retail, commercial, medical, etc.) and the company statutes allow all of these. Therefore, for investors looking to establish a presence on Riverside in an area that is about to see a renaissance, this offers a unique opportunity.
The business has been running as a successful French restaurant (64 pax 165+ sqm) and has two long term leases held by the restaurant company:
1. Ground floor restaurant + fully renovated apartment above (approx. 290 sqm)
a) Bar, restaurant, kitchen, WCs and outdoor covered seating area
b) Apartment (4 bedrooms / 4 bathrooms / WC / living room / kitchen / laundry)
c) Large terrace overlooking the Tonle Sap River
d) Lease expires 2030 ($1,200/month -> end December 2020 and $1,800/month -> end December 2030)
e) Deposit $6,000
2. Adjoining restaurant space (approx. 55 sqm)
a) Ground floor (Restaurant floor and 4 x WC)
b) Lease expires 2023 ($700/month -> end January 2019 and $800/month -> end January 2023)
c) Deposit $4,200
Selling price: $280,000 for both leases and the restaurant business in its entirety, including all stock, furniture, renovations and rental deposits, however both components can be sold separately.
Key selling points:
• Excellent location with enormous potential with Huawei project soon to break ground
• 14+ metres of ground floor frontage with parking for 5 cars + 10+ motos
• 11 years remaining on the main lease, which is significantly below market rate (note: similar properties on Riverside fetch $8,000 – 10,000/month with only 3 – 5 year tenure)
• Fully renovated 4 BR apartment with a terrace overlooking the river and its dedicated entrance (note: market rate for this property, which could be sublet, is currently around $2,200/month)
Original ID: DP11.K1