Property: Boat Avenue goes higher

PHUKET: The Boat Avenue community mall in the Laguna area is in the process of adding seven more shophouses in the main compound and will later build commercial structures along both sides of the newly constructed road.

Boon Yongsakul, deputy managing director of Boat Development Company, an offshoot of the famous Boat Lagoon marina, told the Gazette that each of these seven four-storey shophouses are for sale at 12 million baht each.

“There are already two roads leading to our community mall but to make it easier for our clients in Laguna we cut a new two-lane, 10-meter-wide road so that they needn’t pass through the T-junction,” Mr Boon said. “Although both sides of this road remain green, we are working on a master plan to bring in good Phuket restaurants and also those in Bangkok keen on moving here.”

The company was able to build a new road for only 5mn baht because the Yongsakul family owns about 2,000 rai of land surrounding Laguna.

“We have land in other parts of Phuket, too,” Mr Boon noted. “It’s because my family had been mining here and we have correct titles for them.”

Mr Boon said he intends to concentrate on further expanding the community mall to meet the needs of residents living in the area and guests of various luxury hotels.

“We are not limiting ourselves to retail and commercial development; it’s just that right now we want Boat Avenue to shape up as intended,” he explained.

While all the shophouses in the initial phase and the seven new ones are for sale, the developer retains ownership of the mall where Villa supermarket and small shops are located.

“This Villa branch is the best performer in all of Thailand because there isn’t much competition,” Mr Boon said.

Tri Property, which built Zcape X2 condominium next to the community mall after buying the land from the Yongsakul family, has not inquired about buying any additional plots for development.

Also within this complex is housed Thailand’s first container park, of which Mr Boon is rightly proud.

“We put containers around like they do in New Zealand and England, and there is a waiting list of people who want to come in,” Mr Boon explained. “We arranged the containers and painted them in vibrant hues of red and green and it’s quite good.”

Mr Boon is upbeat about the future, particularly the brand he has created because, while some units have still to be rented out, he is meeting his target as planned.

“We wanted Boat Avenue to be an asset brand, so we incorporated the word Boat, but Avenue was an inspiration from the J Avenue community mall in Bangkok because it’s very well known around Thailand and people know what that’s all about,” he explained.

— Nina Suebsukchareon