Asset for Sale in Colombo, Sri Lanka

This is a complete freehold one owner managed building previously utilized as a Head Office premise. The site is located in the business end of Colombo i. e. Fort, Colombo 01. The government has ear marked this location as the next financial frontier in the South Asian region boosted by the USD 1.4 Bn investment from Government of China to create the Port City; it's contruction is underway and scheduled for completion by 2025.

The following are the building specs:

1. This building consists of 14,320 usable sq ft and is comprised of three floors including two Mezzanine floors and an attic above.

2. Floors are fitted with tiles and cement area.

3. Ceilings are fitted with two designs of fire resistance suspended ceilings.

4. The entire building is fitted with electrical fittings.

5. Each floor has adequate individual and common toilets and washroom facilities.

6. The building is supplied with 3 phase electricity with CEB 150 amps supply.

7. KVA 175 standby power generator.

8. Central A / C with additional split type A / C facility.

9. Electrically operated lift for 6 passengers along with stairway.

10. Large underground water storage facilities and sufficient overhead water storage facilities (subject to an upgrade).

11. Fire alarm system with smoke detectors in each room and long the corridors (subject to an upgrade).

12. Fire protection system with water sprinkler system and adequate fire extinguishers (subject to an upgrade).

13. Board meeting room. MD, Directors and senior executive’s rooms equipped with additional split type A / C facility. These rooms are with attached toilets; one of which is with a shower cubicle on ground floor.

14. Emergency exit steel spiral staircase.

Although in usable condition, building itself requires a significant cosmetic improvement to bring it to a modern quality standard. Nevertheless, with smart luxury hotels and new commercial buildings coming up in the area, the ROI boasts c. 15% if converted to a boutique budget style hotel. Alternatively available to be let out as commercial space for a legitimate business organisation.