I Have 100 Million Stores

"Haha, I didn't expect it to be the commercial complex of Qianda Plaza in Sansha City!"

Looking at the content on the paper, Cao Xingyu muttered to himself, and a smile appeared on his face unconsciously.

There is no doubt that this is what he had in mind.

At present, the system map only fully opens Sansha City, so only the assets of Sansha City are valuable to him.

Because from the current point of view, apart from the fixed commercial street requirements for the stores operated, the [real estate industry] has no limitations, as long as it is in Sansha City.

As for the commercial complex of Qianda Plaza in Sansha City, Cao Xingyu was naturally familiar with it. He had gone there several times when he was in college. I have to say that that place was really lively.

This commercial complex is located in the prosperous Kaiyuan District of Hedong, Sansha City, bordering Sansha Avenue to the north and Shajiang Avenue to the south.

It can be seen from the road names that these two avenues are the main urban roads of Sansha City.

Not only that, the commercial complex is also close to the river. It is close to the Sansha River and has unlimited river views. You can overlook the unique natural scenery of Yueshan Mountain in Hexi Province in the distance. In addition, it is directly connected to Sansha City Line 1 and 2, making the transportation extremely convenient.

It can be said that the location of this commercial complex is excellent and the location advantages are self-evident.

This is one of the latest new landmarks created by Sansha City in recent years in cooperation with Xie Group.

If Cao Xingyu remembered correctly, this Qianda Plaza was the only project of the Xie Group in Sansha City. Later, it seemed that the Xie Group had a debt crisis, which caused many investments in central cities to stall.

It is worth mentioning that this commercial complex is not just Qianda Plaza.

Instead, it consists of Qianda Plaza, Qianda Mandarin Hotel, Qianda International, Qianda Vista Mansion, etc.

In short, it integrates commerce (shopping malls), residential areas, office buildings, high-end hotels, and entertainment and leisure (international cinemas and video games).

It covers an area of ​​more than 200 acres.

It is a very large urban comprehensive commercial complex.

The residential part was sold out a few years ago.

When it comes to housing, we have to start with the business model of the Xie Group in the early years, which was to 'sell', maintain and 'rent'.

It is true that the Xie Group's main business is commercial real estate, and it is also true that it can earn long-term profits by renting out self-owned commercial shops, but there is an obvious flaw in this aspect, and that is that 'money comes in too slowly'.

Although the rent is paid quarterly, half-yearly or annually, which may be acceptable to ordinary investors, and it can indeed be called a profitable business, for the Xie Group, this money is simply not enough. support their expansion.

To put it simply, the rent collection model is only a long-term profit direction. The longer the time, the more you will make.

But if you want to expand, it is definitely not feasible to rely solely on rent. You must look for other projects that can quickly pay back your money.

Therefore, based on this, around Qianda Plaza as the core, there will definitely be supporting large-scale residential communities, office buildings and other properties for sale in the surrounding area.

After all, when it comes to real estate, only by selling it can you get a large amount of money back and make astonishing profits.

At the same time, it can complement each other with Qianda Plaza and enhance each other's value.

Think about it, if there are residences around the mall, will it increase the popularity of the mall?

And there is a large shopping mall next to the house, which is a huge selling point, allowing the house to sell better and faster.

The Xie Group has grasped these key points very well, allowing each of their properties to be sold out in a very short period of time, which is much shorter than the sales cycle of ordinary real estate projects.

This is actually the third generation model of Qianda Plaza.

Compared with the pure business model of the first and second generations, which was dominated by Qianda Plaza, the third generation is more mature and has the characteristics of a city landmark.

Of course, there is still a fourth generation of Qianda Plaza, but it is no longer called Qianda Plaza, but called Qianda City, also known as Qianda Cultural Tourism City.

Compared with the third generation, which can be called a super large scale with one million square meters, Qianda City has directly doubled on this basis.

They all start at least three to four million square meters.

This can no longer be called an urban commercial complex, but a large-scale cultural tourism project!

It’s just that there aren’t many fourth-generation ones, there are only a dozen or so in the country.

The Qianda Plaza that is really popular across the country and is often seen and mentioned by people nowadays is basically a third-generation product.

Looking back, after raising most of the funds from the sale of residential and office buildings around Qianda Plaza through sales, maintenance and renting, the Xie Group was able to continue to expand this model.

Then there is a steady stream of copying, quickly conquering cities and territories, increasing the area of ​​​​Qianda Plaza in their hands, and increasing heavy assets.

These are the standardized models of the Xie Group in the previous asset-heavy era. The Qianda Plaza in Sansha City is the product of the Xie Group in the past few years.

The reason why Cao Xingyu knew this was because he had studied Qianda Plaza for a while before.

After withdrawing his thoughts, Cao Xingyu focused his eyes on the content on the paper.

"Five Qianda International Grade-A office buildings, with 48 floors above ground and two floors underground, with each floor covering 4,000+ square meters, have a total construction area of ​​1.01 million."

"Xie's Group owns two of the buildings, and holds nearly 50% of the area in the other three buildings. The other 50% of the area has been sold to the outside world."

"A total of 670,000 square meters are self-owned."

"The current market price of the office building is 12,000 per square meter, and the comprehensive discount price is sold at 10,000 per square meter, with an estimated value of 6.7 billion."

"In addition, taking into account the fact that the two self-owned buildings are sold at a premium, the valuation is 7 billion."

"Remarks: This asset currently has a 10-year bank operating loan of 2.5 billion."

"After deducting the loan, the final valuation is 4.5 billion."

After reading the first asset listed by the other party, Cao Xingyu began to think deeply.

His first feeling was that the price...

A bit too high!

Although the table states that the valuation is 2,000 lower than the market price,...

"In the third generation model of Qianda Plaza, the residential and office buildings in it should have been sold at that time to collect funds..."

"Right now, the other party actually owns more than 60% of the area. This is an obvious problem in itself!"

If Cao Xingyu remembers correctly, in every Qianda Plaza model, the properties owned by the Xie Group are generally Qianda Plaza and the twin Qianda Cinemas, Qianda Parent-Child Series, etc., and at most one more Qianda Hotel!

Office buildings, like residential buildings, are generally sold as quickly as possible to raise funds!

This is also one of the main forces in the sale, maintenance and rental market!

Moreover, owning office buildings is not something that the Xie Group will do, and the leasing of this kind of commercial office buildings is not an area that the Xie Group is good at!

"But there are so many self-sufficiency here... Either there is some strategic purpose, or they just can't be sold..."

In this regard, Cao Xingyu prefers the latter.

After all, if it really has any strategic purpose, then there is no need to use it as a bargaining chip at this moment!

"Although Sansha City is the provincial capital and has developed quite rapidly in recent years, its heritage is still several grades behind those of the first-tier cities along the coast. This is an indisputable fact."

"You can tell from the commercial office buildings that real big cities like Beijing and Shanghai have towering buildings, and they are spread out in large areas. Sansha City is one of them. There is no such scale at all, the office buildings are relatively scattered, and it is impossible to form a large-scale business district in the absolute sense."

Regarding commercial office buildings, Cao Xingyu had seen a research report before.

What we are talking about is that the total amount of Grade A office buildings in Sansha City has reached 3.62 million square meters, and it is growing at an average of 600,000 square meters every year.

This is only the total amount of Grade A office buildings. If you include Grade B and Grade C office buildings, the total amount will be even more amazing!

However, the real demand in Sansha City is not that high.

Taking Grade A office buildings as an example, the vacancy rate has reached about 51%!

More than half the area is vacant.

It’s obviously a market where supply exceeds demand!

In addition, Sansha City is a city that prefers to enjoy life and entertainment. Local residents are not keen on real estate speculation, or investing in real estate. Everyone prefers to live in the present. This is due to the nature of the city and the general environment. created.

In this regard, it can be seen from the fact that Sansha City's housing prices have been stable and ranked among the bottom three among provincial capital cities in the country. You must know that Sansha City's GDP and per capita income are among the top among provincial capital cities.

Such a strong contrast has resulted in Sansha City ranking first among the happiest cities many times.

It can also be seen from this that during the hottest era of real estate speculation, residents in Sansha City were not interested, let alone buying that kind of commercial office buildings.

After all, the average housing price in Sansha City is only 11,000. If you have money, you might as well buy this kind of house. The final return on investment will be higher than buying a commercial office building. After all, the vacancy rate of commercial office buildings is too high. People who understand only need a little... You can figure it out.

Therefore, Cao Xingyu believes that these commercial buildings owned by the Xie Group will most likely not be sold!

Then I had no choice but to hold it in my hand!

This is also a kind of price without market.

It’s just that the price has been put on it and no one wants to buy it.

At this moment, Cao Xingyu suddenly understood why there was only one Qianda Plaza commercial complex in Sansha City.

Because the market is there!

"The valuation is 7 billion. After deducting the 10-year operating loan of 2.5 billion, the final valuation is actually 4.5 billion."

In a super first-tier city, a slightly larger office building might cost this much.

But in Sansha City, this price...

Thinking of this, Cao Xingyu retracted his thoughts, looked at Xie Jianlin, and said with a smile:

"Mr. Xie, is your Qianda International's price of 4.5 billion too high?"

"Haha." After hearing this, Xie Jianlin, who knew that he had entered the price negotiation stage, smiled and said, "Is it high? This kind of rare self-sustained Grade A office building is rare, and it is also in an excellent location. I shouldn't need to ask for its value. Can you elaborate more?"

"And we have discounted the market price, which has shown the greatest sincerity of our Xie Group."

"If it weren't for your company's sincerity this time, we wouldn't want to take out these assets."

"Um, is this still sincerity?" Upon hearing this, Cao Xingyu couldn't help laughing and said:

"The market price is 12,000 yuan per square meter. Maybe that's the price listed outside, but someone has to buy it, right?"

"The demand for business office buildings in Sansha City is not high. Almost half of the Grade A office buildings are vacant. I think the occupancy rate of Mr. Xie's buildings is not high, right?"

"With this situation of oversupply, buying or even renting out may not necessarily be guaranteed. How many people will be willing to spend money on this?"

"After all, I have lived in Sansha City for so many years, and I still know the market in Sansha City well. Mr. Xie, it's okay for you to fool others with your words, but in front of me, forget it."

"And as far as I know, Mr. Xie and your Xie Group are not in the habit of owning commercial buildings. Can I understand that these assets are unable to be sold at the time and can only be kept in hand?"

"Judging from the fact that you only held about 50% of the area in the other three buildings, you still sold some, but more than half of them were still unsold."

"So I guess it should be similar to my guess."

"Haha." After hearing these words, Xie Jianlin raised his eyebrows in surprise.

He originally thought that this time it would go smoothly. After all, the other party was just a young man who was still young and should not be very good at this.

But I didn't expect that the other party had already accurately grasped the problem after just one glance.

And he also knows their Xie Group extremely well!

Although it is no secret that the Xie Group rarely owns commercial buildings, if you don't pay attention, you still won't know this.

However, Xie Jianlin did not feel any panic. Since it was a negotiation, all aspects must have been taken into account. The other party could accurately see that the valuation was a bit high, so naturally it was also included in the calculation.

"The vacancy rate problem you mentioned may exist in other office buildings, but we do not have this problem at Qianda International." Xie Jianlin said with a smile:

"After all, our buildings are in a good location, with more complete supporting facilities around them, and the riverside city center is very representative, and is very popular among financial companies."

"Currently, the occupancy rate in the five office buildings far exceeds the average level in Sansha City, reaching over 80%."

"Of course, you are right about one thing. We did not sell all of them before. It was indeed affected by the buyer's market. Sansha City is not very motivated to purchase commercial assets."

"But later, with the completion of the entire commercial complex and the gradual improvement of surrounding facilities, the value of our commercial buildings has increased a lot than before."

“It’s just that after the settled companies stabilized, we no longer had the idea of ​​selling.”

"Oh? Really?" Hearing this, Cao Xingyu smiled noncommittally.

Naturally, he would not fully believe Xie Jianlin's words.

He didn't believe it at least with an occupancy rate of 80%.

Either it is an exaggeration.

Either that or most of the 80% are used by the Xie Group themselves.

In short, the demand for such high-end office buildings in Sansha City cannot be that great, and the vacancy rate exceeding 50% is definitely not unfounded.

It's just that Cao Xingyu is too lazy to worry about it so much.

Because he really likes this asset in his heart!

Not counting the three self-owned high-end office buildings that own 50% of the area, just the two self-owned high-end office buildings...

The location is good and the location is good. If it can be allocated under the name of Shiwang Group, then Shiwang Group will no longer have to consider the issue of office space for a long time in the future!

That’s totally enough!

Quite practical!

It can even be said that it has solved a big problem of Shiwang Group once and for all!

Therefore, Cao Xingyu feels that even if the other party's price is a little higher, it doesn't matter.

"Mr. Xie, let me take a look at the bottom." After Cao Xingyu smiled, his eyes turned to the paper in his hand.

The second asset listed by Xie Group:

"Qianda Plaza, with a construction area of ​​235,000, four floors above ground and two floors underground."

"There are 513 shops in total."

“100% occupancy rate”

"The offer is 3 billion."

The third asset:

"Qianda Mandarin Hotel, super five-star standard, 32 floors, fully equipped with various facilities, a total of 412 rooms of various levels."

"The quote is 1.5 billion."

After reading it, Cao Xingyu probably came back to his senses.

Is this exactly 9 billion?