8:00 to dusk
The restaurant
Brunch through dinner in a round dining room and on decks over the water. The menu is contemporary comfort food cooked over wood fire and grill.
Island of Ashes · Cherngtalay · Phuket
Developers are building 9,330 homes around this lake. The island in the middle is for sale.
Ashes is a wood-fire restaurant and bar on its own island, reached by a footbridge, two minutes from Boat Avenue. It's rated 4.8★ on Google, and it's yours on a 12-year renewable lease.
Sunset over the lake today: 18:14
- Asking price
- ฿60,000,000
- Lease
- 12 years + renewal
- Per lease year
- ฿5.0M
- Payback, illustrative
- ~5 yrs
- New homes within 3 km
- 9,330 on the way
- Guests rate it
- 4.8★ Google
Filmed on the island
- Below DeckBravo
- The Bachelor JapanPrime Video
International TV has already filmed here. Most buyers have to pay to create that kind of story; with Ashes it comes included.
The venue
A destination you can't copy, because the lake is already taken.
Most venues in Bang Tao fight over a stretch of beach road. Ashes has an island. Guests cross a footbridge to a round dining room, wooden decks over the water and a bar facing the sunset behind the hills, served from a working kitchen facility at the back.
- Setting
- Its own island, with a footbridge
- Kitchen
- Wood-fire & grill, all day
- Guest rating
- 4.8★ Google · 122 reviews
- Open
- 8:00–23:30, closed Tuesdays
- On screen
- Below Deck · The Bachelor Japan
- Boat Avenue
- 560 m, about 2 minutes
Dusk to 23:30
The bar
Wine with the sunset, then the evening trade. The venue already runs wine-and-yoga mornings and sunset dinners by the lake.
Back of house
The facility
A working kitchen and back-of-house facility behind the venue. Its layout and capacity are in the data room.
Look behind the trees
The skyline is already arriving.
This is the view from across the water. The blocks behind Ashes are new homes, and more are being built.
2026
17,124homes within 3 km of the island
What's coming
In 2018 there were 4,548 homes around this lake. By 2029 there will be 24,493.
Press play, drag the slider through the years, or tap any dot for the project. Each dot is a project FazWaz tracks within 3 km of the island, and it lights up the year its homes complete. 9,330 of those homes are still under construction or off-plan, 59% more than are standing today. The closest is SO Lagoon by Origin: 511 units, 300 m away.
Built by that yearCompleting that yearStill to comeAshes
The neighbours Tap one to find it on the map
Price it against the neighbourhood
฿60M is less than ฿6,500 for every new home being built around you.
1.3average Cherngtalay villas at ฿47.6M each. That's the price of the venue their owners drive past.
฿5.0Mper year of lease, before any renewal
฿6,431for each of the 9,330 homes on the way within 3 km
The market, from FazWaz's own data
The district where Phuket's money is moving.
These figures come from live FazWaz listings in Choeng Thale (Cherngtalay, Bang Tao, Laguna), compared with the rest of Phuket. They were read on 12 November 2026.
41%
of all condos listed for sale in Phuket are in this one sub-district (7,591 of 18,433).
+10%
higher condo price per sqm than the rest of the island: ฿173,800 vs ฿158,100.
฿47.6M
average villa asking price, against ฿37.4M across the rest of Phuket.
+65%
more homes on the way: 16,088 units due 2026–29, on top of 24,574 completed.
● Illustrative figures. The seller's audited P&L replaces these in the data room.
Build your own case.
Start from a preset or move the sliders. Today's trade grows on its own, and the new neighbours arrive on the real completion schedule within 3 km, so the upside builds year by year as the homes are handed over.
The new neighbours
280 regular households at full build-out · ฿20.2M a year
Paid back in
—
of a 12-year lease
—
Price / EBITDA today
—
EBITDA in year 3
—
12-year cash earned
See the P&L: today vs year 3
| Annual, ฿ | Today | Year 3 |
|---|
EBITDA is after lease rent (฿3.6M rising 3% a year) and before tax and capex. Renewal years aren't counted.
Where the upside comes from
Four ways to grow it, all already built in.
The neighbourhood fills in
Every completed project adds residents, renters and their guests within a short drive. That's demand the venue doesn't pay to acquire.
Driver: 9,330 homes coming within 3 km
Weddings and private events
A lake at sunset is a wedding and event venue. Packaged buyouts lift average spend and smooth out the low season.
Driver: event mix, average spend
The kitchen works for more than one room
The back-of-house facility can run villa chef services, catering and delivery for the new developments, earning off-site as well as at the tables.
Driver: off-site revenue
Partnerships with developers
Developers selling homes nearby need a showpiece to host buyers. Launch events, resident memberships and hospitality partnerships turn their marketing budgets into your revenue.
Driver: partnership income
The area, year by year
The lease runs through Phuket's biggest build-out.
- 2026
- You take over Ashes
- 1,386 homes completing within 3 km, including The Modeva
- 2027
- 3,327 homes completing, including SO Lagoon (300 m) and SO Origin Bangtao
- Airport phase 2 starts construction
- 2028
- 3,304 homes completing, including Title Sierra, VIP Tropika and The Liberty
- 2029–31
- Bellaguna Lake Residences complete
- Kathu–Patong tunnel targeted for 2031
- 2038
- The lease term ends, with renewal options
Tonight at Ashes
One island. One lease. The sun goes down over the lake at 18:05.
The deal
One price. One island. Twelve years on the lake.
A restaurant on its own island in Bang Tao, with Phuket's biggest build-out growing up around it. FazWaz sends the full data room to qualified buyers once they've signed an NDA.
- Asking ฿60,000,000 for the business, fit-out and lease
- 12-year lease with renewal terms
- Restaurant, bar and back-of-house facility, fully fitted
- Brand, licences and supplier relationships, subject to due diligence
- Data room: P&L, lease, licences and staffing, under NDA
Questions
Before you ask.
What exactly is for sale?
Ashes itself: the lease, the fit-out, the brand and the operating assets of the restaurant, bar and back-of-house facility. The land isn't included.
How does the lease work?
It's a 12-year lease with renewal terms. The full lease, including rent, escalation and renewal mechanics, is in the data room once you've signed the NDA.
Can a foreign buyer take this on?
Foreign buyers usually take on a Thai business through a structured company and need the right licences. FazWaz can introduce legal advisers who handle hospitality acquisitions in Phuket.
Are the numbers on this page real?
Not yet. The P&L figures here are illustrative and show how the model works. The seller's actual accounts are released in the data room under NDA. The market figures do come from live FazWaz listing data.
Can I visit?
Yes, by private appointment through FazWaz. The venue is trading, so please arrange visits through us rather than approaching staff.