Taikun, <<If you don't mind brothels (I think they call them love hotels) you can find up to 40%>>
Lovely coincidence. Being one of the advisors of the partnership that owns the property underlying the brothel, I just got off a conference call.
Regarding the property underlying the Mongkok brothel Message 20123381 , the partnership that had purchase several shops in Mongkok/Nathan Road just decided to unload the brothel at 7 mm gain on 4 mm purchase by accepting unsolicited offer, or a 175% gain over 18 months (plus about an 8% yield per annum).
There is no cap gain tax under true capitalism and real economic freedom.
The partnership will continue to hold the remaining street level shops in the same very busy neighborhood. May the new buyer of the brothel realize another 175% gain over the next 18 months :0)
The brothel stiffed us for three months rent, but as we hold 2 months security, lost only one month's rent.
Meanwhile, the SPC holding the partnership's property that houses the famous 4-storey seafood restaurant in the 5-storey building (jewelry shops on the ground floor) is in process to throw the tenant out, unless they vacate within the next 55 minutes.
Once we chuck the restaurant out, the effective rent will rise 40%, since the restaurant tenant had long supped at the well of long lease (w/ option to extend) and gentle landlord.
Had the restaurant investors kept up with BBR thread, they would have known what was coming their way Message 19210327 <<August 14th, 2003 ... We intend to be very tough on existing tenants, throwing them out onto the street given any flimsy excuse, hoping to execute complete regime change by 2005 when the new development Langham Place is in full swing, in time to market space to the likes of Toys-R-Us, Sony, and up-market retailers.>>
There is no mercy allowed in the Game of Last Man Standing Death Match Tournament.
I call this act value creation ;0)
It is a brothel eating investor and investor eating seafood restaurant world out there, somewhere, in Mongkok :0)
I think capitalism and free enterprise, coupled with laws that favor the landlord, is very invigorating :0)
Chugs, Jay |
