Factory with Offices & Accomodation for Sale and Rent in Tungkop,Minglanilla, Cebu City, Cebu, Philippines

Furniture Factory/Alternative Use/Sale/Lease/Joint Venture?

FACTORY COMPLEX, If leased as a going concern (with use of all equipment & machinery) currently 50% of the rent will be covered by the current ongoing and profitable business, goodwill included at no additional cost and we fully expect that up to 70% will be covered next year and more the year after.

* Very Nice condition built 2002-3. Can be Used for Other Industries & is clean enough for electronics. Includes quality living accomodation, offices, showrooms. 3 Hectar land area with a total covered area of around 20,000 Square meters with further room for expansion. Office block has three stories 400 square meters per floor. All rooms nicely decorated and well furnished. PBX telephone System, built in LAN, Broadband connection, All Air Conditioned

* OFFICE/ACCOMODATION GROUND FLOOR. Is a combination of parking, office rooms, clinic and a photographic studio.

* 1ST FLOOR comprising 3 executive offices, Accounting, production, designing & reception.

* 2ND FLOOR with very nice apartment all rooms air conditioned comprising Living Room, Dining, Kitchen, bathroom and Bedroom with Ensuite Bathroom. The remaining floor area is a showroom and the apartment could easily be expanded to the whole 400 sqr meter floor if required. All the plumbing, waste water piping & A/C units were placed on the outside of the building so it is very easy to maintain and to provide additional bathrooms and toilets.

* 3RD FLOOR is a single space 400 Sqr meter showroom and is Air conditioned for * a total of 1600 Square meters in the whole building.

* SERVICES
* 3 Phase power
* 50 KVA Back up generator for the Offices
* 250 KVA back up generator for the Factory
* Broadband & cable TV
* PBX Telephone System
* 220 Cubic Meter fire water tank and fire lines
* Piped in compressed air with 2X40HP screw type electric compressors w/dryers
* and smaller independent backup compressors.

* MAIN FACTORY BUILDING 9000 square meters Single long span truss across a 45 meter width there are no internal columns. The building has an insulated long span roof and is well ventilated. It is 45 feet high in the center. All the concrete floors where designed to be used by heavy fork lifts. The building is well lit and all the gutterings are stainless steel.

* secondary 3000 square foot factory building
* several other smaller buildings
* Bunk house for up to 140 workers
* Carpentry section
* Wrought Iron forming, welding and pressing section
* Investment casting foundry in a seperate purpose built building
* spraying section with built in spray booths
* Carton making section
* packing area
* main loading bay is 500 sqr meters covered and can accomodate 6X45' containers
* 2 additional entrances into the factory with hard standing. These areas can accomodate the loading of a further 10 containers
* Machine rooms
* Mechanical and electrical workshops
* Racked storage area
* Wrought iron phospate dipping tanks
* Grit Blasting room

* For anyone who would want to continue to use the factory for furniture manufacturing, I would be willing to include our current customers we have maintained and kept only the profitable ones. There is currently a projected net profit of around USD 100,000 per year and the orders are increasing.

We would be willing to lease the whole complex, to include equipment, offices, accomodation etc for $25,000 a month with a good part of this being paid for by the current business. I am not asking any goodwill payment and would be willing to assist in a smooth transfer to the new owner over a period of several months. We will continue to live in Cebu and have no plans to leave the Philippines.

The only reason to lease or sell our factory is that we have ran it for the past 20 years, we have had as many as 720 employees (we currently have only 120) with a past FOB output of close to $10M per year and we did very well. A few years ago we had a fire. We rebuilt and expanded but lost a lot of customers, at 57 years old I would now rather spend my time with lovely wife, 4 young children other business interests and hobbies.

While I would like to see it continue as a furniture factory in the hands of a new energetic team. The complex is also idealy suited for many other industries. The current asking price includes several hundred thousand dollars of machinery, if the factory is sold or leased for another purpose other than furniture, I will remove all the equipment that is not required and adjust the price. I cannot let down our current customers and will make alternative arrangements to accomodate their orders.