Tio Tom's Guesthouse is well known in the area and the favourite of young and youthful voyagers. Built over the water and just next to the landing dock in the lively town of Old Bank on the Island of Bastimentos on the Caribbean coast of Panama (where mostly English is spoken), it was one of the most popular guest houses in Bocas del Toro, Panama. Sadly, the pandemic of this year 2020 closed it down and the owners feel it is time for them to move on. Hence the very attractive price!
It has received excellent ratings on all platforms and a new owner can carry the good reputation on with clean and comfortable accommodation, healthy home-made food, drinks, good vibes and loads of fun.
Six cosy guestrooms - each with its own bathroom - located over the water in the typical Caribbean style, plus the exclusive bungalow consisting of a 50m² loft, a 25m² room with its own bathroom, all with WiFi and a view to the lagoon, a kitchen and a restaurant await the new owners.
No luxury, but realistic prices, as become a hostel, paired with comfort and privacy guarantee a successful business, as soon as the visitors return. In the meantime, the buildings need some tender loving care, as they have been slightly neglected for over a year.
The entire construction is made of wood on a concrete foundation over the water of the lagoon. The house can be remodelled or enlarged. The property cannot be titled, as it is over the water and a concession has been applied for. The property can be transferred, as it is 25-years old.
Due to the pandemic, the hostel has been empty for a year and needs renovation which is expected to cost approx. $ 10,000, mainly planks and piles.
It is registered as Commercial Type A., with a restaurant permit allowing alcohol to be served with food. These permits can be reactivated if the property is bought within the corporation.
The property can also be used as a large family house or an open house for family and friends.