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Royal Phuket Marina for sale

PHUKET: Royal Phuket Marina has been put into the transaction market, reports Bill Barnett, Managing Director of hospitality consultancy C9 Hotelworks.

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By The Phuket News

Thursday 7 July 2016, 10:23AM


Royal Phuket Marina has been put on the market for sale. Photo: Royal Phuket Marina

Royal Phuket Marina has been put on the market for sale. Photo: Royal Phuket Marina

“The sale includes 100% interest in the marina, the commercial complex along with a beachfront site in nearby Naka Yai island,” Mr Barnett reported in an article posted today.

Jones Lang LaSalle Hotels have been retained as the exclusive broker, he added.

“Overall the offering is over 193 rai and there is a considerable land bank for hotel, residential and commercial expansion,” Mr Barnett said.

Royal Phuket Marina is considered one of Asia’s leading yachting facilities. Developed in 2005 by entrepreneur Gulu Lalvani, the facility features 110 wet berths and a hardstand for 40 watercraft.

“Over the past decade Gulu Lalvani has been a strong investment advocate of Brand Phuket and he is now looking to give someone the upside opportunity to execute a larger integrated offering.”

No other reason for the sale was given. (See story here.)

New Paths Retreat

A source at Royal Phuket Marina this morning confirmed to The Phuket News that the report is accurate and said that a statement was due to be released later today.

The news comes just 12* months after Mr Lalvani, Chairman of Royal Phuket Marina, announced a five-year plan to inject B5 billion in investment to transform the marina into a premier lifestyle destination. (See story here.)

Royal Phuket Marina was bestowed the “Luxury Yachting in Thailand” award at the Luxury Lifestyle Awards Gala Ceremony in Singapore in February – the first marina in Thailand receive this honour. (See story here.)

 

* Not 18 months, as originally reported.

 

 

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Tom Yum | 20 August 2016 - 10:56:01

Joe 12 "Why not congratulate the man for his efforts in providing a world class marina second to none in the world and hope that the new owner will continue with his legacy". 
'World class Marina second to none in the world'...?..what sre you smoking ?....you obviously have not docked or stayed at Bahia Mar Yachting Center in Ft. Lauderdale, or Miami Beach Marina, Miami Bayside ...

Pauly44 | 08 July 2016 - 16:12:32

Rather than "declining" Phuket doesn't appear to have the capacity, sustainability or sense of security to develop into a "world class" destination for long term foreign investment, there's simply too much going on here corrupt & unsafe for any real money to flow in from foreign sources for this to be realistic on a larger scale, Hotgem, you sound like a spokesman, ...

Kurt | 08 July 2016 - 15:13:33

Pauly44:  Pitching up to Upper class 'corridors' is not working any longer when the surrounding is poor Lower class.
We live in 2016, it needs more balance, without these 'gaps'.

International Marina visitors don't feel comfortable to see the poorness outside the gate.
They call a marina for mooring and like to stretch their legs, enjoy things outside a marina.
Hop on a n...

Joe12 | 08 July 2016 - 14:50:16

Hotgem... agreed. Also prefer the comments of Mike Batchelor, Managing Director, Investment Sales Asia who states “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 an...

swerv | 08 July 2016 - 14:37:43

Kurt: What decline? You stated that Phuket was going into decline...where?
Why would we want to adopt Singapore sterility? miserable place.
Buses: This is Thailand, those are standard buses...what's wrong with them? There is a saying, when in Rome do as Romans do. This is Thailand, live with it or leave.
Yes the Marina is a 5 start development...have you ever been there? It is recognised th...

swerv | 08 July 2016 - 14:30:01

Hotgem: Well said, at last some sense.
It was/is a very successful development and i enjoy my excursions there, in fact i was involved before any construction.

Kurt | 08 July 2016 - 14:21:32

Hotgem:  What future grow you have in mind for Phuket?
Enough drinking water suppy throughout the year?
Stable electricity supply?
Better roads with better lighting at night?
Sufficient modern bus services till at least midnight?
Handle now quickly ( according Hotel Act BE 2004) the 70% illegal 'guesthouse/hotel rooms'?
Have the incinerators being able to handle the daily 500+ tons o...

Hotgem | 08 July 2016 - 13:08:43

Actually the owners want to hand the future development to a younger crew. He has made significant profits based on the acquisition and construction costs. The owner did build "ahead of the curve" but he's certainly not losing on this sale. RPM is very well positioned to take advantage of the future growth in Phuket. 

Kurt | 08 July 2016 - 13:07:41

Swerv: 
1) What decline?.. 
2) Phuket, same size as Singapore in square km's, doesn't need to become like S'pore, but can adapt a few good things of Singapore.
3) What buses you mean? These converted lorries with a wooden build up and wooden benches, they drive with a trail of black smoke behind them? And that charming pre-historical transport stops with sunset, right?
4) What 5-st...

Pauly44 | 08 July 2016 - 13:04:04

Yep I mean the main Thepkasattri rd, the RPM road is nice drive compared to the chaos trying to get in the place, RPM is pitched to upper class but all surrounding element is not supportive.

Christy Sweet | 08 July 2016 - 12:59:26

Agree with Kurt, while tourism  numbers might (italics) be up, it's a false indicator as so many are on packaged tours that spend very little inside the country. 

Meanwhile authorities make poor decisions such as blocking the entrance to RPM  with tunnel construction when a flyover would have been far wiser - and likely already completed. Super Rich are not going to patronize poor planning ...

swerv | 08 July 2016 - 12:17:54

Kurt: What decline?
Comparing Phuket with Singapore ( a place i hate) is like comparing apples and pears. This is not Singapore and hopefully never will be.
Why would a 5 star development attract people who would go there by bus? It's a marina and is not cheap.
I would not worry about whether the marina is making a profit or not as the owner is a $ Billionaire. Plus he is no spring chicken...

Pauly44 | 08 July 2016 - 07:34:11

Have to agree with Kurt on this one, RPM is selling as it cannot produce the income the owner was expecting and never will as it's a land locked, tidal restricted marina, plus most of it's properties have been on the sales market for many years and the main access road is simply a nightmare. Phuket is not going in the right direction on many levels, too many greedy/corrupt private interest...

Kurt | 07 July 2016 - 22:47:25

Phuket is not losing it's 'grip' because the RPM is for sale, Swerv.
RPM happening is just 1 of the 'signals of the decline.

Just 18 months ago the announcement of a injection of B5 million in RPM to transfer the marina into a premier lifestyle destination, remember?
On forehand a lost case, simply because outside the gate of RPM is no premier lifestyle to discover.
Matters c...

Joe12 | 07 July 2016 - 17:52:31

Kurt ...the owners not being "happy with the level of profits/lost." I presume that is something you plucked out of the air or are you board member with insider information? There might be other reasons such as wanting to invest elsewhere or to retire from business.

I didn't realise that Phuket is becoming "international less favourable," because that's not what the ...

swerv | 07 July 2016 - 15:48:52

Kurt: Is there no story that you cannot comment on in a negative way?
"Phuket is losing it's grip" because the RPM is for sale? WTF?
What lack of infrastructure, i have seen Phuket improving year on year for the last 20 years?
Negative, negative, negative.

Foot | 07 July 2016 - 15:47:27

You're right, Kurt.
With the large decline in free spending western tourism the last few years, I suspect this attempted sale is just the beginning.

Kurt | 07 July 2016 - 14:49:15

Whatever. It is only for sale because the present owners don't feel happy with the level of profits/lost.
That is how business works.
All the press related talks are sales talks, just to reduce 'sales damage'.

Phuket is loosing grip on things. Becomes international less favorable because of the lack of infrastructure.
Everybody knows that.

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