“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.)
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.