Posts: 2,250
Threads: 104
Joined: Apr 2012
Reputation:
83
30-10-2014, 10:54 PM
(This post was last modified: 30-10-2014, 11:52 PM by Boon.)
Research, research and research - Please do your own due diligence (DYODD) before you invest - Any reliance on my analysis is SOLELY at your own risk.
Posts: 271
Threads: 5
Joined: Dec 2010
Reputation:
3
Thg seems to be in a buying spree with its strong cash horde...
Posts: 8,305
Threads: 496
Joined: Jul 2011
Reputation:
60
Singaporean watch retailer The Hour Glass seizes prime Sydney CBD site
THE AUSTRALIAN OCTOBER 31, 2014 12:00AM
Greg Brown
Property Reporter
Sydney
Supplied Editorial 192 Pitt Street
The property at 192 Pitt Street is opposite Pitt Street Mall and Westfield Sydney and was purchased for $32.8 million. Source: Supplied
SINGAPORE-listed luxury watch retailer The Hour Glass has emerged as the buyer of a prominent retail building on the corner of Pitt and Market streets in the Sydney CBD.
The property at 192 Pitt Street is opposite Pitt Street Mall and Westfield Sydney and was purchased for $32.8 million.
The Hour Glass director Michael Tay said the building was in one of the world’s fastest-growing luxury retail corridors.
“We are excited by the prospects, the heritage status of the building offers and feel extremely privileged to be the new owner of this property,” Mr Tay said.
While the group will initially hold the building as an investment, it is believed it eventually wants to open its own store there. The deal was brokered by Knight Frank and Colliers International.
Knight Frank senior director Dominic Ong said the building could be turned over entirely to retailing in the future with one store across its six levels.
“The vertical retail concept is very popular in Asia, in Japan and Hong Kong where land is very limited in the prime retail area,” Mr Ong said.
There has been more action in Sydney from Singaporean players. The listed hotel arm of Far East Organisation announced it would join forces with Toga to develop a mixed-use project on the site on the waterfront in Balmain.
The Australian reported in August that Toga had acquired the property for $58m, in a deal handled by Knight Frank.
Posts: 1,767
Threads: 14
Joined: Jan 2011
Reputation:
15
This company has fantastic run. My only concern is the ever increasing "Stocks" valued in the current asset will some day come back to bite us. How are they valued or adjusted ? What are they ? I do note that Rev did not increase as dramatic.
Posts: 2,512
Threads: 24
Joined: Sep 2010
Reputation:
19
Just dressing up the counter to prepare for the 1 : 3 stock split, coupled with the coming end of the year window dressing...
1) Try NOT to LOSE money!
2) Do NOT SELL in BEAR, BUY-BUY-BUY! invest in managements/companies that does the same!
3) CASH in hand is KING in BEAR!
4) In BULL, SELL-SELL-SELL!
Posts: 1,767
Threads: 14
Joined: Jan 2011
Reputation:
15
I don't know well enough to comment is good or bad. But with rev stagnant something seems doesn't add up.
Homepage
PR Newswire
