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Kampot Riverside Restaurant/Bar for Sale

Posted: Wed Dec 05, 2018 11:21 am
by long in the tooth
Kampot
$40,000
Kampot, Cambodia

Kampot Business for Sale w/ Lease.
turn key restaurant/bar. prime riverside location.
all recent construction (2 years old).
professionally designed/built commercial kitchen.
professionally designed/built bar and interior.
all recent plumbing, bathroom and electrical service.
Price: $40,000. includes all commercial equipment. all fixtures and high quality furnishings.
also includes new 5 year lease contract at $250 a month.
LIMITED TIME OFFER.
PM ONLY FOR DETAILS AND VIEWING.

Re: Kampot Riverside Restaurant/Bar for Sale

Posted: Wed Dec 05, 2018 12:24 pm
by Lol Nol
I've seen your building and design work elsewhere and it is of a very high standard.
Good luck with the sale.

Re: Kampot Riverside Restaurant/Bar for Sale

Posted: Wed Dec 05, 2018 4:04 pm
by Beaker
When the Chinese move in to Kampot the lease will be raised substantially or broken, right ?

Re: Kampot Riverside Restaurant/Bar for Sale

Posted: Wed Dec 05, 2018 4:05 pm
by batshitcrazyweirdo
Beaker wrote:When the Chinese move in to Kampot the lease will be raised substantially or broken, right ?
Probably already happened.

Re: Kampot Riverside Restaurant/Bar for Sale

Posted: Wed Dec 05, 2018 5:35 pm
by long in the tooth
Beaker wrote:When the Chinese move in to Kampot the lease will be raised substantially or broken, right ?
chinese never really left Kampot but some of the recent influx has substantially raised both selling prices and rents.

our lease contained exclusions protecting us from that event.

the new contract does the same.

we also had our lawyer, along with the police chief come in for a meeting with the land owner.
an agreement was drawn up that the land owner would not sell or raise the rent for the new 5 year contract.
the only exclusion was that if the owner was to become "destitute" and had lawyers coming after them, they would be allowed to sell.
not likely, as they own half the stuff on our side of the river.
they all signed and thumbed the agreement.

that's about as much as we could do from our end

Re: Kampot Riverside Restaurant/Bar for Sale

Posted: Thu Dec 06, 2018 8:28 am
by gavinmac
The business tenant (or buyer who pays $40,000 up front to lease the place) can be kicked out at a moment's notice if the landlord becomes destitute or declares itself destitute? That's pretty nuts.

Re: Kampot Riverside Restaurant/Bar for Sale

Posted: Thu Dec 06, 2018 11:27 am
by logos
gavinmac wrote:The business tenant (or buyer who pays $40,000 up front to lease the place) can be kicked out at a moment's notice if the landlord becomes destitute or declares itself destitute? That's pretty nuts.
Where did you see it applied if the landlord "declared himself destitute" ?

Re: Kampot Riverside Restaurant/Bar for Sale

Posted: Fri Dec 07, 2018 10:51 am
by long in the tooth
gavinmac wrote:The business tenant (or buyer who pays $40,000 up front to lease the place) can be kicked out at a moment's notice if the landlord becomes destitute or declares itself destitute? That's pretty nuts.
basically, as you should know by now.. a lease here is never etched in stone. much the same any where in the world.
with out provisos installed to add to your protection you could get hung out to dry.

ask some of the people from sinoukville how that goes if you want drama.

all we are doing is to put additional language in place to put more power in the hands of the leaser.

and it's never in a moments notice and they are also buying all the equipment and furniture.

and... as an added incentive and addition peace of mind.
we are paying the first year up front.
so a 5 year lease where the monthly payments do not start until after the first year of business.

:thumbsup:

Re: Kampot Riverside Restaurant/Bar for Sale

Posted: Fri Dec 07, 2018 11:13 am
by gavinmac
long in the tooth wrote:
gavinmac wrote:The business tenant (or buyer who pays $40,000 up front to lease the place) can be kicked out at a moment's notice if the landlord becomes destitute or declares itself destitute? That's pretty nuts.
basically, as you should know by now.. a lease here is never etched in stone. much the same any where in the world.
with out provisos installed to add to your protection you could get hung out to dry.

ask some of the people from sinoukville how that goes if you want drama.

all we are doing is to put additional language in place to put more power in the hands of the leaser.

and it's never in a moments notice and they are also buying all the equipment and furniture.

and... as an added incentive and addition peace of mind.
we are paying the first year up front.
so a 5 year lease where the monthly payments do not start until after the first year of business.

:thumbsup:
Why doesn't the lease just say "Landlord rents to tenant for five years"? Why give the landlord this massive out of "unless the landlord becomes destitute?" The landlord could just put all his assets in his wife's name for a month, claim poverty, then kick out the tenant. It's a terrible clause, the tenant has no assurance of anything. He could pay $40,000 to take over the lease and then get kicked out in a week.

Re: Kampot Riverside Restaurant/Bar for Sale

Posted: Fri Dec 07, 2018 11:49 am
by long in the tooth
because in a standard lease that is offered, the lessee has no protection from exactly that. being evicted at the whims of the land owner.
without added clauses, such as buying out the remaining lease, or sharing in a % of the sale price (i know of 3 instances where this has happened, the owner sold the land and the people who had a lease on it where given a cash settlement) or in this case putting in language in regards to selling.
your scenario of the transfer of ownership to sell the property is uninformed as the "he" is a "she" and she ownes half the riverside.
the other reason for this sort of "pre -lease" agreement is the fact that rents down here are going up every day. we are simply trying to lock in a good rate (a fantastic rate compared to all the others) for the new owner.
you have absolutely zero insight to this situation. please stop flaming off with your "what if what if" stuff.

o.k?

Re: Kampot Riverside Restaurant/Bar for Sale

Posted: Fri Dec 07, 2018 12:22 pm
by YaTingPom
I may be wrong but the vast majority of expat businesses in SHV that were booted out were either at the end of their lease (one month rolling contract on the beach area) or had a cash settlement (Pub Street, although that was more the barang landlord/lessee) or the building/land is sold, presumably voiding any lease, or the expat tenant sub leased it to Chinese for higher rent sharing it with the landlord.

I know of a few cases (Charlie Harpers for one) where the landlord simply wanted them out but they had a lease. Few court cases later and 12 months down the line the tenant was compensated, and let’s be honest it was probably more than the “For sale” price originally touted. Win-win as HE would say.
The only losers were the few drunks who drank there, the useless staff and a couple of douchebag TukTuk drivers who hung out about outside, plus the family who lived there of course.
Tony would be shaking his head in disbelief I’m sure.

I’m well aware of twatish big cheeses doing as they please in the country. I’ve already told a bar owner who’s fighting an Okhna who wants his bar not to bother. Unless he knows some high up general in PP (regional stars matter apparently) he’s screwed.

However. Kampot isn’t being invaded (only by expats and Cambodians from SHV) and land and rent have only gone up because of speculation and demand. The Chinese are not here (Kampot town) on masse.

Good luck with the sale. I’d buy it but my prolific manager guy has just taken a job. :-)

Re: Kampot Riverside Restaurant/Bar for Sale

Posted: Fri Dec 07, 2018 12:49 pm
by gavinmac
long in the tooth wrote:because in a standard lease that is offered, the lessee has no protection from exactly that. being evicted at the whims of the land owner.
without added clauses, such as buying out the remaining lease, or sharing in a % of the sale price (i know of 3 instances where this has happened, the owner sold the land and the people who had a lease on it where given a cash settlement) or in this case putting in language in regards to selling.
A standard lease says "Landlord agrees to give tenant possession for five years and tenant agrees to pay rent for five years."

That protects the tenant from being evicted at the whim of the landlord.

Adding additional clauses saying "landlord can evict tenant if landlord sells the place" or "landlord can evict tenant if landlord is destitute" only benefits the landlord.

Re: Kampot Riverside Restaurant/Bar for Sale

Posted: Fri Dec 07, 2018 2:20 pm
by logos
gavinmac wrote: A standard lease says "Landlord agrees to give tenant possession for five years and tenant agrees to pay rent for five years."

That protects the tenant from being evicted at the whim of the landlord.

Adding additional clauses saying "landlord can evict tenant if landlord sells the place" or "landlord can evict tenant if landlord is destitute" only benefits the landlord.
Standard leases work fine in normal countries where the rule of law applies to everyone.

Re: Kampot Riverside Restaurant/Bar for Sale

Posted: Sat Dec 08, 2018 8:16 am
by gavinmac
logos wrote:
gavinmac wrote: A standard lease says "Landlord agrees to give tenant possession for five years and tenant agrees to pay rent for five years."

That protects the tenant from being evicted at the whim of the landlord.

Adding additional clauses saying "landlord can evict tenant if landlord sells the place" or "landlord can evict tenant if landlord is destitute" only benefits the landlord.
Standard leases work fine in normal countries where the rule of law applies to everyone.
If the rule of law doesn't apply to Cambodian landlords, why would a "destitution" exception to the tenant's contractual right to use the property help the tenant? Why would someone pay $40,000 for the right to lease property from someone to whom the rule of the law doesn't apply?

Maybe what you guys are saying is that, in Cambodia, "Landlord agrees to lease the property to tenant for five years" isn't binding on the landlord, he can breach that at any time without consequences. But if it says "Landlord agrees to lease the property for five years unless Landlord becomes destitute" then this is a totally binding, virtually airtight promise by the Landlord to lease the property for five years and he can only terminate the lease with genuine proof of destitution. That makes no sense to me, but a lot of things in Cambodia make no sense.

Re: Kampot Riverside Restaurant/Bar for Sale

Posted: Thu Dec 13, 2018 6:54 am
by holidayinkh
gavinmac wrote: Maybe what you guys are saying is that, in Cambodia, "Landlord agrees to lease the property to tenant for five years" isn't binding on the landlord, he can breach that at any time without consequences. But if it says "Landlord agrees to lease the property for five years unless Landlord becomes destitute" then this is a totally binding, virtually airtight promise by the Landlord to lease the property for five years and he can only terminate the lease with genuine proof of destitution. That makes no sense to me, but a lot of things in Cambodia make no sense.
The benefit here might be that he has already sat down and discussed this specific issue directly with the owner. Often Khmer landlords don't even bother to read the leases they are signing. They don't care what's in them, as long as that wad of cash deposit is there. So by pointing this out directly in person it may have some kind of honor or face aspect. Hopefully encouraging the landlord to not break the agreement. In my experience that's never worked here, but it can't hurt.

Just like everywhere in the world some landlords here are good, some are bad, some are great, some are terrible. Unlike most western countries, the landlord always wins and will do what they want.