Great design Phnom Penh 36-room boutique hotel for rent Tonle Bassac – BKK 1

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In a prominent central Phnom Penh location, near Norodom Boulevard in Tonle Bassac and BKK 1, is this modern 36-room boutique hotel, now available for rent.

Dubbed, a ‘great urban hotel’ perfectly located in the most exclusive district of Phnom Penh, this building is being sold at an incredible under market price.

Since Covid, this has been a thriving business with decent year on year returns. As a building, it offers developers the chance to convert into apartments and/or offices.

This hotel Tonle Bassac offers the ultimate in convenience and comfort. It is near many banks, government buildings, foreign embassies and many other facilities are close by.

The area is unrivalled for safety and is only 2 km from Independence Monument and 4 km from the Royal Palace.

Original ID: CKM.C1

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Diamond Island:

Diamond Island is a recent addition to the Phnom Penh skyline from Koh (Island) and Pich (Diamond). It is an artificial island built around 2000 on the Bassac River. Before then, the area was home to a few fishing families. In 2006 the island was sold to the Overseas Cambodia Investment Corporation for development

Koh Pich is now a hot spot for real estate investments and mostly inhabited by Chinese. There is little doubt this 75 hectare island will be exclusively for the rich. In “Elite Town” houses cost up to $1 million USD. Opposite, the “Elysées project” a huge project of $150 million dollars is a replica Haussmann building and L’Arc de Triomphe

Bassac Lane:

Despite the widespread devastation of the hospitality industry by COVID-19, one precinct in Phnom Penh seems to be defying all odds and operating almost Business as Usual. In the leafy backstreets of Tonle Bassac are bustling streets 308 and 21.

There you will find small, high-end bars and restaurants that will soon be surrounded by new condos and more night venues.

COVID-19 did slow business in Bassac Lane area for a while, but it bounced back and now on weekends, the night air is filled with music and laughter as people return to their old habits. The Lane is now so full of bars and hole-in-the-wall venues, that new venues are spilling into Street 308 and Street 21.

Because land prices in Bassac Lane are 10-20% less than BKK 1, prices are cheaper all round. Prices of food and beverages are comparatively cheap. You can find a bar selling cocktails at $3, draught beer at $1 and meals from $5.

Amidst the general activity, there is a sense of optimism despite the tight border controls keeping tourist numbers down.

So instead of going to the usual haunts on Street 136 and Pub Street that have obviously been hard hit by the pandemic, check out Bassac Lane where the night lights are a little bit brighter.

About Tonle Bassac:

Tonle Bassac is located on the west side of the Tonle Bassac River. It covers around 3sqm flanked by Sihanouk Blvd, Norodom Blvd and National Road 1. The area is known for having many alleys that branch off larger streets. They are full of bars and restaurants secluded from the busy city centre.

Reclaimed land known as Koh Pich has numerous condos, exhibition halls, hotels and other iconic developments, such as The Bridge, The Peak and DI Riviera. A number of embassies are also located nearby, such as – Thai, Australian, Japanese, Indonesian, Russian, Malaysian, South Korea and Philippines.

The area is also home to many government buildings and gated communities. Consequently, you will notice increased security presence (private, police and national security).

Renting made easy

Phnom Penh real estate, especially the rental market, is not easy to navigate around as there’s a lot on offer and prices vary depending on where, when and what you are looking for. The city offers a range of properties, so it is important you know what is available.

Covid made things difficult for everyone and all over Phnom Penh, people started negotiating heavily. Although there is some residual goodwill, much has gone and prices are now close to pre-pandemic levels. Don’t expect real estate miracles any more!

There are essentially four types of rental options (Khmer style shop house, renovated shop house, western apartment, condo / serviced apartment) each with a distinct feature and price tag, depending on location… READ ON

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