WITH retail rental rates heading towards 3,000 baht per sq m on short leases, Soi Thonglor (Sukhumvit 55) is facing some serious challenges if it is to retain its reputation as Bangkok’s premier lifestyle and entertainment district. Restaurants and other businesses are struggling to pay the high rents; several major enterprises that flourish elsewhere in Asia have failed here. The higher prices Thonglor tenants are forced to charge in order to pay for these increased costs are deterring some customers. Traffic and a shortage of parking are also discouraging visitors. And with other Bangkok suburbs like Ram Intra now flush with their own entertainment venues, the number of potential visitors to Thonglor has diminished. One additional but noteworthy deterrent are the many police check points surrounding this part of the city.
Nonetheless, Thonglor remains innovative and interesting. The recent opening of The Commons, a collection under one roof of artisan producers and restaurateurs, is an amazing concept and truly inspirational. Nearby, a similar development known as 72, is bringing renewed energy to the street. Other new restaurants are trying their luck on both sides of this key Bangkok thoroughfare. More car parks are becoming available and some establishments are even offering valet parking.
Ultimately, it is the high rents that will determine Thonglor’s viability. As one restaurant operator put it: “The only people who get rich in Thonglor are the property owners.”
Nonetheless, Thonglor remains innovative and interesting. The recent opening of The Commons, a collection under one roof of artisan producers and restaurateurs, is an amazing concept and truly inspirational. Nearby, a similar development known as 72, is bringing renewed energy to the street. Other new restaurants are trying their luck on both sides of this key Bangkok thoroughfare. More car parks are becoming available and some establishments are even offering valet parking.
Ultimately, it is the high rents that will determine Thonglor’s viability. As one restaurant operator put it: “The only people who get rich in Thonglor are the property owners.”
