Masstige 8 auction - Anyone with 6 mil?

[Mill88]

https://www.realestate.com.au/news/korean-massage-parlour-masstige-8-set-to-go-to-auction-with-67-million-hopes/

[f00b]

Good find! I’ll chip in 100 to start 😂

[storry_teller]

The one who won 80 millions last few weeks?

[poida]

decent place for an investment if one had the money. sex always sells.

[spellbind]

At $380K annual rent, its a 5.7% rental return.. could be positively geared if you could borrow for low enough.. plus appreciation on the land

[Azzkikr]

Will they be shutting down or moving to another location?

[asiafever]

Will they be shutting down or moving to another location?

Staying on as tenants, current lease in place until 2031.

[Jaygee]

Should we start a kitty?????

[poida]

crowdfund the purchase?

[aussiegaigin]

It reads like they are selling the building, not the business.

Unless someone is really cashed up,and wants to buy that too.

[troubledsoul]

At $380K annual rent, its a 5.7% rental return..

That's not a bad return considering market rate for commercial is around 5% at the moment.

[Pongie]

But that’s calculated at auction starting price. It’s an auction, lots of people can do the maths and it’ll probably end up closing much higher