Bordello knocked down - GoFuckYourself.com

LadyGardenSnake · 09-13-2004, 04:23 PM

ONE of Australia's most famous knocking shops, the Daily Planet, is going under the hammer.

After 29 years running the Melbourne brothel, the last 19 of them legally, owner John Trimble is selling up.

"I think it's time somebody else had all the fun," he said.

"You do get tired after 30 years, even though the girls are still cute."

DP operates as a "hotel", renting rooms to clients by the half-hour ($80 for a half hour and $110 for a full hour), with any services being negotiated with individual working girls.

An accountant's report included in the offer document states the business made a pre-tax profit of $1.7 million in the 12 months to the end of June on revenue of $3 million - that's more than 35,000 clients a year.

Planet Platinum, the ASX-listed company that owns the suburban Elsternwick premises housing the bordello, had already flagged its intentions to sell the site to concentrate on other areas of the adult entertainment market, including its Showgirls Bar 20 strip club in central Melbourne.

But Mr Trimble, also chairman of Platinum, said he only realised after the decision to sell the site was made that it was probably his best chance to sell the business as well.

Accordingly, the purchaser of the building will have first option on buying the business.

Mr Trimble said he was likely to plough the proceeds of the sale of the business into Platinum, which was assessing leasehold businesses in the hospitality sector.

The double-story building boasts 18 rooms featuring king-sized beds, ensuite bathrooms including some with spa baths, and televisions with piped-in porn. The site, valued in Platinum's accounts at $5.7 million, is for sale by tender.

Chief executive Andrew Harris said he expected strong interest from commercial property trusts, which he predicted would be drawn by the brothel's 30-year lease, which also specified all expenses, including rates and water charges to be borne by the tenant.

"Long-term leases with businesses that have long histories are very hard to get," he said.

The sale proceeds are earmarked for debt retirement.

Platinum was also named Daily Planet when it listed last year, but Mr Harris said it was forced to change its name when regulatory authorities said its stock market listing constituted illegal advertising of the bawdy house.

The potential of the Business Licensing Authority to perform police checks on shareholders of a brothel had also frightened away investors and ultimately led to the decision to sell the building.

09-13-2004, 04:23 PM	#1
LadyGardenSnake So Fucking Banned Join Date: May 2004 Location: Harlem,New York Posts: 410	Bordello knocked down ONE of Australia's most famous knocking shops, the Daily Planet, is going under the hammer. After 29 years running the Melbourne brothel, the last 19 of them legally, owner John Trimble is selling up. "I think it's time somebody else had all the fun," he said. "You do get tired after 30 years, even though the girls are still cute." DP operates as a "hotel", renting rooms to clients by the half-hour ($80 for a half hour and $110 for a full hour), with any services being negotiated with individual working girls. An accountant's report included in the offer document states the business made a pre-tax profit of $1.7 million in the 12 months to the end of June on revenue of $3 million - that's more than 35,000 clients a year. Planet Platinum, the ASX-listed company that owns the suburban Elsternwick premises housing the bordello, had already flagged its intentions to sell the site to concentrate on other areas of the adult entertainment market, including its Showgirls Bar 20 strip club in central Melbourne. But Mr Trimble, also chairman of Platinum, said he only realised after the decision to sell the site was made that it was probably his best chance to sell the business as well. Accordingly, the purchaser of the building will have first option on buying the business. Mr Trimble said he was likely to plough the proceeds of the sale of the business into Platinum, which was assessing leasehold businesses in the hospitality sector. The double-story building boasts 18 rooms featuring king-sized beds, ensuite bathrooms including some with spa baths, and televisions with piped-in porn. The site, valued in Platinum's accounts at $5.7 million, is for sale by tender. Chief executive Andrew Harris said he expected strong interest from commercial property trusts, which he predicted would be drawn by the brothel's 30-year lease, which also specified all expenses, including rates and water charges to be borne by the tenant. "Long-term leases with businesses that have long histories are very hard to get," he said. The sale proceeds are earmarked for debt retirement. Platinum was also named Daily Planet when it listed last year, but Mr Harris said it was forced to change its name when regulatory authorities said its stock market listing constituted illegal advertising of the bawdy house. The potential of the Business Licensing Authority to perform police checks on shareholders of a brothel had also frightened away investors and ultimately led to the decision to sell the building.