SRPP Advised ‘Vimarn Suriya’ on its Residential Lease Structure

SRPP NEWS l 23 May 2022

SRPP advised Vimarn Suriya Co., Ltd., a joint venture between SET-listed hospitality giant Dusit Thani and Thailand's largest retail developer CPN (Central Pattana Plc), on its long-term leasehold of the residential units, which would be offered to its customers under Dusit Central Park, a luxury mixed-use project.


“Dusit Central Park” is a large mixed-use project that Dusit Thani plans to respond to the potential of the land that is growing day by day. therefore chose to use the concept of Urban Redevelopment Demolish the former Dusit Thani Hotel and build a new group of buildings to make the most of the use of the location this time. The project is in a mixed-use format, comprising of 4 parts as follows:


1. Hotel (Dusit Thani Bangkok)

The new Dusit Thani Hotel will be resized to 39 floors. The room design offers privacy with larger room sizes. and causing the number of rooms to be reduced from the original 510 rooms to approximately 250-259 rooms.


2. Residences (Dusit Residences and Dusit Parkside)

High Rise Condominium, 1 building, 69 floors high, in which 1 building will consist of 2 brands, namely

- Dusit Parkside will penetrate The younger generation is young generation, single people who want smaller rooms 1-2 bedrooms and have a 'Lifestyle Luxury' design style, located on the 9th - 29th floor. It is a 1- 2 bedroom suite with an area of 55 -115 square meters, starting price 25 million baht.

- The other brand is Dusit Residences, which is elegant for families. Emphasis on large living rooms Designed in 'Classic Luxury' style, located on floors 30 – 69. The rooms are large ranging from 2 - 4 bedrooms and penthouses. Area from 120 - 750 square meters, starting price 55 million baht.


3. Shopping Center (Central Park)

shopping center with an area of more than 80,000 square meters is a Low Rise building connected to an office building. There are both underground and above ground shopping centers. To match the transportation routes at the head of Silom Road, which is the connection point for BTS and MRT, gathering world-class brands and Thailand into one place to cover users of all groups and lifestyles.


4. Office (Central Park Offices)

The office is about 40 floors high with a total area of 90,000 square meters, with the concept of designing to be easily connected to public transportation both BTS and MRT.


We assisted the Company in structuring the documentation program, preparing, drafting, reviewing and revising all related documents, including the Residence Unit Sup-Lease Agreement, the Service Agreement, and the Building Regulations with respect to the residential part of the project.


The team was led by Panuwat Chalongkuamdee (Founding Partner), Thosaphol Thurongkinanonth (Senior Associate), Thannawat Apitukkakul (Associate), and Pakjira Promkasetrin (Associate).


You may view Panuwat’s profile here, Thosaphol’s profile here, Thannawat’s profile here, and Pakjira’s profile here.