I Have 100 Million Stores

"Hehe, 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, a smile appeared unconsciously on his face.

There is no doubt that this is in line with the requirements in his mind.

The current system map only fully opens Sansha City, so only Sansha City’s assets are valuable to him.

Because from the current point of view, in addition to 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 Square in Sansha City, Cao Xingyu is naturally familiar with it. Before he was in college, he had visited there several times. I have to say that the place is really lively.

This commercial complex is located in the prosperous Kaiyuan District of Hedong, Sansha City, with Sansha Avenue in the north and Shajiang Avenue in 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 near the river, close to the Sansha River, with unlimited river views, you can overlook the out-of-print natural scenery of Yueshan in the distance, and there is direct access to Sansha City Line 1 and 2 and the transportation is extremely convenient.

It can be said that the location of this commercial entity is excellent, and the location advantage is self-evident.

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

If Cao Xingyu remembers correctly, this Qianda Plaza is still the Xie Group’s only project in Sansha City. Later, it seemed that Xie Group had a debt crisis, which caused many investments in central cities to stagnate.

And it is worth mentioning that this commercial entity is not only Qianda Plaza.

It is composed of Qianda Plaza, Qianda Mandarin Hotel, Qianda International, Qianda Wenxuan Mansion and so on.

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

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

It is a super-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 is based on "sale" and "rent".

The main business of the Xie Group is commercial real estate. It is also correct to rent out self-owned commercial shops to earn long-term income. However, there is an obvious flaw in this aspect, that is, ‘money is too slow’.

Although the rent is paid quarterly, half-yearly or annually, it may be acceptable to the average investor. This is indeed a profitable business, but for the Xie Group, the money is simply impossible. Support their expansion.

To put it plainly, the rent collection model is just a long-term profit direction. The longer the time, the more profit will be made.

But if you want to expand, it is definitely not feasible to count on rent alone, and you have to look for other projects that can quickly pay back.

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

After all, real estate, only when it is sold, can a large sum of money be recovered and amazing profits can be made.

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

Think about it, if there are houses around the mall, can it increase the mall’s popularity?

And there is a large shopping mall next to the house, which is another great selling point, which can make the house sell better and faster.

The Xie Group has grasped these points very well, so that each of their real estate can be sold out in a very short 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 based on pure Qianda Plaza, the third generation is more mature and has the characteristics of urban landmarks.

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

Compared with the third-generation millions of square meters, which can be called super large-scale, Qianda City has directly doubled on this basis, at least all starting with three or four million square meters.

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

But there are not many fourth generations, there are only a dozen in the country.

Qinda Plaza, which is truly popular throughout the country, is basically the third-generation product that people often see and talk about.

In retrospect, the Xie Group was able to continue to expand this model after collecting most of the funds for the sale of residential and office buildings around Qianda Plaza by selling, raising and renting.

Then there is a steady stream of copying, quickly attacking the city, increasing the area of ​​the Qianda Plaza they hold in their hands, and increasing their heavy assets.

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

Cao Xingyu knew this because he had studied Qianda Square for a while before.

Withdrawing his thoughts, Cao Xingyu focused his gaze on the content on the paper.

"Five Qianda International Grade A office buildings, 48 ​​floors above ground, two floors underground, each floor of 4000+ square meters, with a total construction area of ​​1.01 million."

"Xie's Group owns 2 of them, and 3 of them hold nearly 50% of the area. The other 50% of the area has been sold."

"The total self-holding is 670,000 square meters."

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

"In addition, considering that the two self-owned buildings are sold at a premium as a whole, they are valued at 7 billion yuan."

"Remarks: The asset has a 10-year operating loan of 2.5 billion from the bank."

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

After reading the first asset listed by the other party, Cao Xingyu thought.

His first feeling was that this price...

It's a bit high!

Although it is stated in the table that the price is estimated to be 2,000 lower than the market price, but...

"The third-generation model of Qianda Plaza, in which residential and office buildings, logically, should be sold at that time to collect funds..."

"At the moment, the other party still owns more than 60% of the area. This is an obvious problem in itself!"

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

Office buildings are generally the same as residential buildings. The main thing is to sell them as soon as possible to collect funds!

This is also one of the main forces in selling, raising, renting!

Moreover, self-owned office buildings are not something the Xie Group will do. The leasing of commercial office buildings of this kind is not an area that Xie Group is good at!

"But there are so many self-holdings here... either there is a strategic purpose, or it just can't be sold..."

In this regard, Cao Xingyu prefers the latter.

After all, there is really 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 city, it has developed quite rapidly in recent years, but its background is still several grades behind the super first-tier cities along the coast. This is an indisputable fact."

"From the perspective of commercial office buildings, one can see one or two. The real big cities like Beijing and Shanghai are all towering buildings, and they are scattered and large in scale. Sansha City is just There is no such a scale at all, not to mention that 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.

It is said that the total amount of Grade A office buildings in Sansha City has reached 3.62 million square meters, and it is increasing by an average of 600,000 square meters each year.

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

The real demand in Sansha City is not so high.

Take a Grade A office building as an example, the vacancy rate has reached about 51%!

More than half of the area is vacant.

Obviously there is an oversupply market!

In addition, Sansha City is a city that prefers to enjoy life and entertainment. Local residents are not keen on real estate speculation, or they are not keen on real estate investment. Everyone prefers to live in the moment. This is due to the city’s attributes and the overall environment. Created.

In this regard, it can be seen from the fact that the housing prices of Sansha City have been stable in the bottom three of the provincial capital cities across the country. It is necessary to know that the GDP and per capita income of Sansha City are among the top provincial capital cities.

And such a strong contrast has made Sansha City top the list of the most happiest cities for many times.

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

After all, the average price of houses in Sansha City is only 11,000. If you have money, it is better to buy this kind of house. The final return on investment will be higher than buying commercial office buildings. After all, the vacancy rate of commercial office buildings is too high. It can be calculated.

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 a price tag, no one wants to buy it.

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

Because the market is there!

"The valuation is 7 billion, deducting 2.5 billion of 10-year operating loans, in fact, the final valuation is 4.5 billion."

In a super first-tier city, an office building of a little bit scale may cost the same price.

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 the price of C&D International's 4.5 billion yuan estimated too high?"

"Haha." Hearing this, Xie Jianlin, who knew that he had entered the price negotiation stage at the moment, smiled, and said: "Is it high? This kind of rare self-supported Grade A office building is rare, and it is also in a very good location. Its value should not need me. Explain 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 use these assets."

"Um, is this still sincerity?" Cao Xingyu couldn't help laughing immediately after hearing this:

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

"The demand for commercial office buildings in Sansha City is not high. Nearly half of the Grade A office buildings are vacant. I think the occupancy rate of these buildings should not be high, right?"

"In this situation of oversupply, buying and renting may not be guaranteed. How many people would be willing to spend money on this matter?"

"I have lived in Sansha City for so many years, and I still know the market in Sansha City. Mr. Xie, you can fool others by your words, but in front of me, let's forget it."

"And as far as I know, Mr. Xie and your Xie Group don't have the habit of owning business buildings. At the moment, I can understand that these assets could not be sold at that time and could only be put in my hands first?"

"From the other three buildings you only hold about 50% of the area, you still sold some at that time, but still more than half were not sold."

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

"Haha." After hearing these words, Xie Jianlin raised his eyebrows quite unexpectedly.

He originally thought it would go well this time, after all, the other party is just a young man who is still young and should not be very good at these things.

But I didn't expect that the other party would have accurately caught the problem just by looking at it.

And also know them very well about the Xie Group!

The Xie Group rarely owns business buildings. Although it is not a secret, if you don't pay attention to people, you still won't know this.

However, Xie Jianlin did not have any panic. Since it is a negotiation, it must be calculated in all aspects. The other party can accurately see that the estimate is a bit high, and it is naturally also being calculated.

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

"After all, our buildings are in good locations, the surrounding supporting facilities are more complete, and the riverside in the city center is also very representative, quite popular with those financial companies."

"At present, the occupancy rate of the five office buildings far exceeds the average level of Sansha City, reaching over 80%."

"Of course, there is one thing you said correctly. We didn't sell all of them before. We were indeed affected by the buyer's market. Sansha City did not have a high motivation to buy this piece of 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 as the settled enterprises stabilize, we don't have any more thoughts on selling them."

"Oh? Really?" Upon hearing this, Cao Xingyu smiled nonchalantly.

Naturally, he would not fully believe what Xie Jianlin said.

At least 80% of the occupancy rate, he does not believe it.

Either there is an exaggeration.

Either 80% of them are used by the Xie Group themselves.

In short, the demand for such high-end office buildings in Sansha City is unlikely to be so great, and the vacancy rate of more than 50% is definitely not groundless.

It's just that Cao Xingyu doesn't bother to care about so much.

Because he likes this asset in his heart!

Not counting the three self-owned 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 assigned to the Real King Group, then Real King Group will no longer have to consider the office area for a long time in the future!

The kind that totally manages enough!

Quite practical!

It can even be said that a big problem of Real King Group has been solved once and for all!

Therefore, Cao Xingyu felt that even if the other party reported a higher price, it didn't matter.

"Mr. Xie, I will look at the following." After Cao Xingyu smiled, his eyes turned to the paper in his hand.

The second asset listed by the Xie Group:

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

"There are 513 shops in total."

"Occupancy rate 100%"

"The offer is 3 billion."

The third asset:

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

"The price is 1.5 billion."

After reading it, Cao Xingyu probably had a bit of aftertaste.

This is exactly 9 billion?