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Residential Real Estate for Sale in Galle, Sri Lanka

Luxurious service apartment complex to sell in Galle.
This Business is on a Premium Plan
Established 1-5 year(s)
Employees 2 - 5
Legal Entity Private Limited Company
Reported Sales USD 300 - 400 thousand
Run Rate Sales USD 240 thousand
EBITDA Margin 30 - 40 %
Industries Commercial Real Estate + 1 more
Locations  Galle
Local Time 12:59 AM Asia / Colombo
Listed By Advisor / Business Broker
Status Active
Overall Rating
Full Sale
Asking Price: USD 2.6 million (Native Currency: LKR 775,000,000)
Reason: - The parent company expect to invest in the energy sector and restructure the main business model. ... View More
Includes physical assets worth USD 2.6 million
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Business Overview

- Main development is the 5th high-rise condominium development of the developer built on 3.5 acres of land extension as twin towers.

- Each tower consists of 12 storeys.

- Service apartment set up located on the south tower in first two residential floors.

- It has a separate entrance, separate elevator and separate staircase from the main residential building.

- Dedicated car parking.

- Development obtained Asia Pacific Property Award before the pandemic.

- Business has performed average monthly sales of LKR 6mil at a 48% occupancy rate.

- The sales for this year will increase in the last 2 quarters as per our projections.

- Business hires part-time employees for construction activities.

Products & Services Overview

- 19 service apartments (Nine 2BR apartments and Ten 3BR apartments) and 48 rooms.

- Fully air-conditioned units.

- Fully fitted pantry.

- Fully backup generators.

- Pool, Gymnasium and dinning area.

- Rented out two commercial spaces.

Assets Overview

- All the furniture of 19 service apartments.

- All the furniture in the dining area.

- All the outdoor furniture in the pool area.

- All the gym equipment.

Facilities Overview

- Property located in Galle. Adjacent to the freeway of Southern Highway.

- Seller is willing to discuss on full sale of the property.

Capitalization Overview

-1 main shareholder with a 99% stake and 1 director with 1%.

- Bank facility will be settled by the company parallel to the sale.

Recent Activity
Disclaimer: SMERGERS is a regulated marketplace for connecting business sell sides with investors, buyers, lenders and advisors. Neither SMERGERS represents nor guarantees that the information mentioned above is complete or correct. Note that SMERGERS is not liable for any loss, damage, costs, claims and expenses whatsoever arising from transacting with any other user from the website. The final responsibility of conducting a thorough due diligence and taking the transaction forward lies with the users. Please read best practices on SMERGERS.
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Disclaimer: SMERGERS is a regulated marketplace for connecting business sell sides with investors, buyers, lenders and advisors. Neither SMERGERS represents nor guarantees that the information mentioned above is complete or correct.
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