| |
ringthebells
|
the relatively new angelwitch etc owners bought the crown group bars (instead of the 10 year sublease of NEP).
so that brings the bar count to:
angelwitch bangkok and pattaya
las vegas
billboard
dc 10
g spot
voodoo
lollipop
cascade
the outside bars (in the middle of the plaza)
hollywood inn
nana liquid
the game.
rtb
|
Bangkok Girls : Meet Attractive Thai Girls
Posted on: 9:01 am on Aug. 8, 2012
|
|
koolbreez
|
NEP isn't closing, but rents, and lease costs have shot up.
A very popular entrance bar's new 9 year lease cost bt9,000,000, then rent went from bt62,000 a month for 3 floors of space, to bt450,000 a month for only the bottom floor. Drink prices went up but not as bad as I expected.
Another bar's rent went up to bt1,000,000 a month from bt85,000, but they chose not to renew their lease, and moved down the road.
There is another bar on the bottom floor now for sale for bt27,000,000, with a bt545,000 a month rent, and a 9 year lease available, at 9,000,000 upfront.
With bars still operating, signing the 9 year leases, and agreeing to the rent increase, the profit must be there.
|
Bangkok Women : Meet Sensual Bangkok Women
Posted on: 3:01 pm on Oct. 14, 2012
|
|
cheapcharlie
|
Of course there is money to be made with drinks and lady drinks then the barfine and a girl if you take one but night after night you can spend serious money. I find after the first night or two the novelty soons wears off no idea how it is for guys living there. I only go to the bars where im known but once you gave the mama san and everyone else who seems to remember you a drink I prefer to pick up my meat on the sidewalk.
|
Thai Girls : Meet Sexy Thai Girls
Posted on: 5:17 pm on Oct. 14, 2012
|
|
|
|
DaffyDuck
|
Quote: from koolbreez on 3:01 am on Oct. 15, 2012
The profit might be there, for established and grandfathered bars, but I feel that for the most part, new buyers are buying into a delusional hope to be 'the one' bar that makes to dot money - while most aren't and won't be.
Consider the economics - at most, you have a sliver of a high season, a lot of slow season, and a good 4-5 months of dead season during the rainy season.
So, effectively 3-4 months that you'll make money, and the remainder you are hoping to break even.
Now, do the math : 1 million rent a month; whatever staff, employee and operating costs are (which won't be cheap either) ; whatever your consumables costs are.
If you only assume the 1 million for rent, to break even, that's a consistent 56 barfines every day; a consistent 223 drinks sold each and every day.
The current owners of the Nana property continuing to raise lease rates as ridiculously as they are doing is a typical case of "killing the goose that lays the golden eggs". Raising rents from 85,000 to 1 million either indicates that the owners are greedy and dumb, or that they want to get rid of their current lease holders - my guess is that it might be a little of both, and some ate looking at future scenario of selling the entire property for a quick killing.
The consistent increases of rent into astronomical ranges, in this case, serves to establish an inflated value for the property's worth, translating into a much higher sales price (as those are based on worth).
Shortsighted strategy, IMO, but I guess some folks "need" a new Ferrari to gain face.
|
Bangkok Girls : Meet Attractive Thai Girls
Posted on: 10:09 pm on Oct. 14, 2012
|
|
bkkz
|
Quote: from DaffyDuck on 10:09 am on Oct. 15, 2012
Raising rents from 85,000 to 1 million either indicates that the owners are greedy and dumb, or that they want to get rid of their current lease holders
The latter.
|
Bangkok Women : Meet Beautiful Thai Girls
Posted on: 11:57 pm on Oct. 14, 2012
|
|
koolbreez
|
Not a case of rents consistantly going up, but a one time jump. This fits with a new owner, and their responsibility to handle the debt load. I seriously doubt they paid cash, and I seriously doubt they purchased below market price. The old owners did not have all this to contend with, and as a result were not worried about raising rents as the value went up.
Sex sells, now lets see who the good business managers turn out to really be, now that the gravy train is over, and they have to actually work for their money.
From my understanding there is no grandfathered in maintaining of old lease, and rent amounts. All rents, and new lease costs affected everyone, or will in the next year as all the old leases expire, with most having expired this year.
Lot of frontage remodeling go on to at least make those businesses staying more presentable. The food sellers have been removed from the entrance walkway, with the one exception of NANA burger. NANA is starting to look cleaner overall.
|
Bangkok Girls : Meet Attractive Thai Girls
Posted on: 1:06 am on Oct. 15, 2012
|
|
bkkz
|
Quote: from koolbreez on 1:06 pm on Oct. 15, 2012
with the one exception of NANA burger
They had better keep him there or I'll be boycotting NEP for good. I need a good burger after the beers.
|
Thai Girls : Meet Active Thai Girls
Posted on: 1:17 am on Oct. 15, 2012
|
|
LocalYokul
|
I was surprised to find out there's been a McDonald's in that gas station on the corner of Soi 4 for a couple of years now.
I completely missed it when I was in town in 2010.
I am guessing NEP will suffer the same fate as Washington Square, considering everyone says it's the same landowners.
|
Thai Women : Meet Matured Thai Women
Posted on: 8:43 pm on Oct. 17, 2012
|
|
koolbreez
|
Big difference expecting the same outcome as Washington Square for NANA, when the leases there were not renewed, and not given the option to renew them at higher rents, but leases that expired at NANA were given new 9 year leases, although at higher costs.
Not even close to the same, and those renewing leases at NANA aren't doing it blindly caught in some scam tourist pipe dream. These are experienced long term NANA business owners renewing their leases, with expected profits still being made. Soft drink prices went up bt10 at Big Dogs. I didn't ask about beer prices, but I expect it was the same.
Kind of nice the new guards moved the ladyboys across the street, and are keeping them away from in front of NANA.
|
Bangkok Girls : Meet Attractive Thai Girls
Posted on: 10:56 am on Oct. 18, 2012
|
|
| |
|
