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Business to swap in West Nusa Tenggara, Indonesia (Ref: 3725)

Beachfront land on Tropical Island in Gilies East of Bali

Price: $568,000

Type:Business
Living Area:350 m²
Situation:Coastal
Bedrooms:25
Bathrooms:7
Land:2,000 m²
Views:Sea

Gili Meno Eco Hostel 

Revised 8/19

Eastern Beach

Gili Meno Island

Between Bali and Lombok

Indonesia

Find us on

Hostelworld - Gili Meno Eco Hostel, Indonesia

Lonely planet - Gili Islands

YouTube - Welcome to Gili Meno Eco Hostel (2014)

YouTube - Building Gili Meno Eco Hostel (2013)

Google images- Gili Meno Eco Hostel

Gili Life Magazine online

Booking.com

TripAdvisor

Facebook

Instagram

Picture three miniscule desert islands, fringed by white-sand beaches and coconut palms, sitting in a turquoise sea: the Gilis are a vision of paradise. These islets have exploded in popularity, and are booming like nowhere else in Indonesia – speedboats now zip visitors direct from Bali and a hip new hotel opens practically every month.
It's not hard to understand the Gilis' unique appeal, for a serenity endures (no motorbikes or dogs!) and a green consciousness is growing. Development has been more tasteful than rapacious and there are few concrete eyesores.
Each island has its own special character. Trawangan (universally known as Gili T) is by far the most cosmopolitan, its bar and party scene vibrant, its accommodation and restaurants close to definitive tropical chic. Gili Air has the strongest local character, but also a perfect mix of buzz and languor. Gili Meno is simply a desert-island getaway.

(Lonely Planet quote)

See the island of Gili Meno

Watch the YouTube video produced by our neighbour Seri Resort- 100 meters from us  to get a feel for the island. We are the small low level brown building in the trees at the beachfront to the left of the white resort!

How does it feel to live here?

Start your day with yoga on the sunrise deck, joining others quietly to wait for that magical, sacred moment of the brilliant orange glow of the sun rising behind Mount Rinjarni on the mainland of Lombok.


Take a mask and snorkel and swim with giant turtles and thousands of tropical fish right at your beach, adore the shoals of teeny turquoise fish. Loll in the caress of the year round warm ocean or spend the day relaxing in a hammock, cooled by the gentle ocean breeze.

Relax around the evening beachside bonfire with an Italian wood fired oven pizza and a cold beer. Enjoy the candlelit atmosphere and sing along to the local guitar music. Lay on the sand watching the bright stars move across the night sky with the sound of the waves lapping on the beach. Be thrilled with the luminous sparkling tiny green plankton in the night as you reconnect with nature. Let the sparkles run through your fingers and feel how good it is to be alive.

Some nights we watch the giant golden orb of the moon rise. Other nights we run a movie and lay on mattresses in the amphitheater, falling asleep under the stars.

Remember your childhood fantasies of living in a tall tree house or sleeping in a hammock in a bamboo Peterpan house? It is all here waiting for you.


Introduction to the Gili Islands

  • 1.5 hr by speedboat from Bali, 10 mins by fastboat from Lombok

  • Airports.Bali International  3.5 hrs away by speedboat and taxi or Lombok International airport 10 min fastboat and 2 hour taxi/shuttle ride

  • 10 mins by Island Hopping boat between Gili T and Gili Air

  • Over 500,000 visitors per year to the 3  tiny Gili Islands

  • Gili Meno visitor growth 11 % per year

  • Transportation only by foot, bicycle or horse cart. No cars, motorbikes or dogs permitted.

  • Small coral island- 5 Klms to walk around island

  • Warm ocean year round 28 degrees.

  • Excellent snorkeling and diving, giant turtles and tropical fish.

What is the business now?

  • Beachfront eco hostel Accommodation- sleeps 25 guests in hammocks, mattresses, dorm beds and private tree houses.

  • Pizzeria - 2 evenings a week

  • Basic Bar

  • Turnover in  2015 -$51,300- slept 22 in basic dorms

  • 2016 - to present rented to former local staff approx.  US $10,000 net rental income. Tenant pays taxes and all building maintenance.



How the business could be developed/ How do I put my own stamp on the place

  • Open a restaurant by expanding existing kitchen, providing breakfast, lunch, dinner, bar snacks

  • Vegetarian/vegan options

  • Run pizzeria 7 days a week

  • Open a juice/shake bar

  • Provide European style coffee choices

  • Expand bar to include wine, cocktails and keg beer

  • Increase accommodation to sleep 90 guests- with 30 bungalows - currently 6 bungalows

  • Open a free diving or dive Centre

  • Rent kayaks, paddle boards

  • Run Snorkel Safaris

  • Put an ATM on the land

  • Cater for events- birthday

  • Hold music evenings

  • Rent boat moorings

  • Computerize the takings/inventory

  • Advertise

  • Massages & simple spa services

  • Create co-working/co-living zones

  • Build a fancy resort on the land

Occupancy Rates (approx dates)

Extreme High season-  July 15- Aug 23. 100% with overflow on decks and hammocks.

 High season  Dec 16-Jan 4 65%

Mid season.  April 1- July 10      57%

Low season-  Sept 8- Dec 15, Jan 5-March 30.    22%

Land Value Comparisons

Beach front Land Prices are $21,077 (300 mill) per 100 sq meters (1 are)

An example - Business for sale -Meno Mojo- bar/rest/massage/bungalows. Land size 1,500 sq mts. Price. $1.2 mil. This is 250 meters south of Gili. meno Eco Hostel

Land is measured in are. 1 are equals 100 sq meters.

FAQS

What about foreigner work permits?

  • Work permits with a multi exit (exit and enter the country unlimited times) visa cost approx. $780 per year

  • Tax also  paid to government US$1,200 per year per work permit

Staff wages

There are 6 full time staff. Training wages to manager $80- $180 pm plus room and food.

Do investors need to have work permits?

Unnecessary if you are not physically working at the property

We have heard prices on Gili T have increased to 450 mill IDR per are for beachfront.

What is the breakdown of the cost of Gili Meno Eco Hostel?

                                                           IDR (Indonesian Rupiah).        US $ xe.com 

LAND.  20 are (2000 sq mts).        6 Billion                                     

BUILDINGS  (18) & sea deck.         2.08 Bil.                                    

BUSINESS                                         Included                                    

FOREIGN INVESTMENT CO.          N/A                                            

TOTAL.                                               8.08 Billion Rupiah US$568 K 

 

See photos for other currencies, €, AU$, ¥, £, CAD, CNY.

We are not able to supply current income figures as we have rented the property for several years to an excellent local tenant. There is a 5 year contract in place with a break clause and a good-will payment to the tenant when the property is sold.

Important Information for a Buyer

  • The land is freehold- Hak Milik. It is the land that has the intrinsic value.

  • The land has an official registered land certificate with a trusted nominee

  • There are 5 legal documents that put the buyer in control of the land

  • The land measurements/location are registered with the Bureau of Land Management BPN. Approx 2,000 sq mts.

  • You can set up a 100%  foreign investment company. Therefore you would not need an Indonesian nominee.

  • The land can be put into the foreign investment company by buyer for a fee to the government. 

  • We believe investors can use the land as collateral to refinance and take out cash to build. Mandiri Bank is a bank involved in building projects.

  • Land prices are currently increasing at a rapid rate, approx. 18.67 % per year

  • Land tax paid through 2019.

  •  All business taxes are paid up to date by tenant

Land Shape and Size

Beachfront is approx. 20 meters. Property runs approx. 108 meters back

It is a tapered rectangle that goes from white sand beach to jungle vegetation

It is approx. 2,000 square meters, 20 are or ½ acre

There are paths on 2 sides and the ocean at the front. High wall to the north side with a private beach house next door.

What is the hostel scene on the Gilies?   Info from hostelworld.com low season rates August 2019 

Gili T - 40 hostels      Rates dorms to private rooms $10. - $40.65

GIli Air -10 hostels.    Rates.                       $9 - $40.00

GIli Meno 

 3 hostels Gili Meno  Rates.                             $8.50- $27.00

Building and Infrastructure Details: 


1.    Large, seven level main house- all open space concept, without doors or windows. All natural construction in wood, bamboo and long grass roof.

2.   Combined large open air living room, dining and social area
3.   Bar area with sink and fridge.4.   Bamboo shower rooms -3
4.  2 compost toilets (showers and toilets are in a separate area from house)
5.  Banana bungalow - 4x6 meter sleeps 6
6.  Mango Shack   - 4x6 meter bungalow sleeps 6
7.  Garden Penthouse - 2 level bungalow, sleeps 4

8. Tall tree house sleeps 2
9. Beachside Penthouse tree house style, sleeps 4
10.  Staff accommodation

11. Art gallery/workshop area

12.  Boat mooring
13.  Pizza oven and preparation area -Italian style wood fired
14.  Large open kitchen in front of dining area
15.  A sunrise deck
16.  Beachside campfire area
17.   Beautiful beachside deck
18.  Well for water. (drinking water filtered). Also  Connected to water supply from desalination plant on Gili Meno
19. Storage area
20.  Large water tank and tower -3,000 liters & pumps

21.  Tool shed, storage and tools
22.  Showers- 4 bamboo (require finishing)

23.  Compost toilets -4 additional by largest dorm -use sawdust

24. Connected to mains electricity which is solar powered

25. Wi-fi

26. Cooking by gas canisters or wood fired oven

Buildings are well maintained and property clean and well looked after by tenant. Fridges work but need replacing. 


Additional Delights


Banana trees, coconut trees, bamboo sculptures, beachside baruga. 

Curved waterway stocked with fish.
80 year old Bougainvillea tree with fuchsia pink flowers.
 

Reputation

Hostelworld 8.5 out of 10

Guestbook 147 excellent comments

Facebook 2,908 likes.

Facebook 82 reviews. 4.9/5. *

Trip Advisor 70 reviews.

Breakdown of Income when we ran the hostel.

Accommodation 55%.  Food and drink 45%

FAQs

What about foreigner work permits?

We have all the contacts for you.

  • Work permits with a multi exit (exit and enter the country unlimited times) visa cost approx $780 per year. 

  • Tax paid to government $1,200 per year per work permit for foreigners only.

Staff 

  • Tenant has 6 full time staff. Training wages to manager US $80- $180 pm plus room, food and health insurance.

  • Internships and volunteer positions are operated year round

Do investors need to have work permits?

  • Unnecessary if you are not physically working at the property.

Important to know

Note in 8/18 there was a disruptive earthquake on the big island of Lombok and small tremors on the Gilis. Concrete buildings suffered. The hostel shook a little but nothing serious as we are built of wood and bamboo. It did reduce the visitor numbers but they are coming back. See our friends who opened their hostel on Gili T. 1/8/19

Site Inspection Required

A site inspection of the beachfront land and hostel is required for all serious swappers. All the details we know are written here. After a site inspection if you wish to proceed with the swap an earnest deposit would be required and the swap completion to be finalised within 8 months of the site visit. Earnest deposit would be returned on completion of swap. 

Partner with the current local Tenant

The local tenant is a capable, ethical young man. He knows a great deal about running a business on the island, his English is very good and he can do all the required government paperwork. A rare find.


What kind of Swap?

We are happy to consider swap suggestions of reasonable fair value all over the world. We have to be able to legally allowed to live in the country of swap at least part of the year. We would like to swap for a property with income of at least US$10,000 from tenants or income we can make without too much hard slog.

What have you got? We are looking forward to hearing from you.

Here’s to a great new adventure for both of us!

Due to rapid increase in land prices the price may be subject to change without notice. Once a swap is under negotiation price will not fluctuate providing swop is completed within 8 months of initial contact. Prices quoted are as of 8/2019. xe currency data exchange rates used.

Price: $568,000

Looking to swap for: Open to all offers all over the world.

We are British and would need to be allowed to live in the country of the swap.

Would need an exchange without requiring additional cash from us.

Need something that pays its own way and provides a minimum of US$10,0000 income without any work on our part!

Bring on the next adventure.

This property is for sale or permanent swap through the owner.

Contact the owner of this property


Disclaimer

We, the owners of International Property Swap, have not personally seen any of the properties advertised on this website, and all descriptions and photos are provided by the owner or agent for that property. Although we make every effort to keep the International Property Swap website as up to date as we possibly can, unfortunately not all our members keep us informed if they swap, sell or withdraw their property from the market. Therefore we cannot guarantee the accuracy of any description or conditions of a property advertised on this website, or that any property listed on this website is still available.

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