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Rent in One Orchard Road Venue Increased by 80% OVERNIGHT!

Pinkieslut

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After a six-year run, home- grown nightlife brand Neverland will be closing the outlet where it pioneered the concept of live Asian-fusion entertainment in Singapore.
The group will be moving out of the 10,000 sq ft venue in Orchard Plaza due to an 80 per cent increase in rent, and is hoping to re-open in a new location by mid-November.
Its last day of operations at the club is Sept 30. A series of "moving out" parties will be held at the club from tomorrow until Tuesday.
The Neverland Group is the second nightlife operator to announce its closure in a span of a month due to rental woes.
Early this month, The Butter Factory said it would be closing its 8,000 sq ft club at One Fullerton when its lease ends next March, as it could not reach an agreement about rent with its landlord Sino Group.
The Neverland Group's co-owners Kwek Kon Chun, 35, and Eugene Tin, 36, tell Life! the decision to move was an "extremely difficult but, in the end, a logical one to make".
They did not reveal how much rent the club pays each month or who their landlord is, but say their rent was recently hiked by 80 per cent.
Mr Kwek says: "Not only does the increase make it impossible to sustain any kind of entertainment business, but is also way out of line with current economic or market trends."
Still, co-owner Mr Tin is "excited for the new opportunities ahead" and says the closure of the club is a chance "to finally upgrade to a better environment for our customers".
He says: "We would rather invest the money (for the rental increase) to pamper our customers with a better sound system, better lighting features, more comfortable seating and a generally more pleasing environment to be in."
Club Neverland at Orchard Plaza opened its doors in 2009 and was one of the few prominent clubs here to introduce the "Thai-disco" concept, where singers and dancers from Thailand would perform on stage to a live backing band.
Customers showed their appreciation by buying garlands for the performers.
Over the years, Neverland transitioned from a Thai disco to an Asian-fusion live entertainment club, featuring singers and dancers from Thailand, Taiwan and South Korea. This concept is now adopted by dozens of clubs in the nightlife scene.
The club did well and soon its owners expanded their business.
The group now runs several nightclubs in Singapore and Kuala Lumpur, incuding club Sonar at Orchard Hotel, Neverland II at St James Power Station and Pixie Mansion (formerly Neverland KL) in Kuala Lumpur. It opened another outlet, Pixie Luxe in Scotts Garden, earlier this year in Kuala Lumpur.
Mr Kwek says he is unable to reveal more details about the Neverland relaunch, except that the new outlet will be located in town and will open in mid-November.
In the meantime, some of Neverland's performers and staff will be transferred to other outlets. A few of their foreign entertainers have also asked to take unpaid leave to return to their home countries before returning when Neverland reopens.
Neverland regular Erwin Chia, 39, who owns a cosmetics factory and his own beauty business, is looking forward to the club's relaunch.
Mr Chia, who enjoys the club's atmosphere and the friendly service staff, says: "There's a lot of competition from small clubs doing the same concept as them now. So maybe it's a good time for a new concept. But the place is great. All the customers and people who work there are my friends."
- See more at: http://news.asiaone.com/news/singapore/neverland-closes-orchard-outlet#sthash.dzZoCEFj.dpuf
 

laksaboy

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Rent-seeking economy run by rent-seeking whores. :wink:

I think some of the chiongsters, especially the ladies, will be unhappy with the news. :biggrin:
 

Yingge

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You fucking stupid or what??? Since when renter pay day by day??? They have a contract for minimum 2 years... This one they rented for 6 years...

So is increase 80% in 2 to 6 years...

You house increase even more... Go sell your house at 6 years ago price...:rolleyes:
 

Poomer

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You fucking stupid or what??? Since when renter pay day by day??? They have a contract for minimum 2 years... This one they rented for 6 years...

So is increase 80% in 2 to 6 years...

You house increase even more... Go sell your house at 6 years ago price...:rolleyes:

Erm I think it's a figure of speech. Clearly shows who is the fucking stupid one. :rolleyes:
 

rodent2005

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You fucking stupid or what??? Since when renter pay day by day??? They have a contract for minimum 2 years... This one they rented for 6 years...

So is increase 80% in 2 to 6 years...

You house increase even more... Go sell your house at 6 years ago price...:rolleyes:

But then again who says rental MUST increase with the passage of time? The market value of your house must always go up?
 

Yingge

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But then again who says rental MUST increase with the passage of time? The market value of your house must always go up?

I did not said it must goes up all the time. It did went down during 1997, 2003 and 2008-9... But we are comparing the last 6 years. It went up...

Would you want to rent or sell your properties cheaper than 6 years ago??? It all depend on market demand...
 

Equalisation

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Yes. The Indonesians are laughing to the bank. Decades back, they bought many units at Lucky Plaza and other developments there. It cost less than a hundred thousand then. Their yearly rental now is well over the purchase price !
 

Narong Wongwan

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The co owner KC kwek is related to the hong leong family.
Rich kid can easily relocated to one of his uncle's many properties.
This fucktard started the thai disco business because his current wife was an ex flower girl who needed a job to remain staying in Sg. The wife named Mimi Pebbles. Hot thai chick who bagged the ultimate prize.
 

Narong Wongwan

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Yes. The Indonesians are laughing to the bank. Decades back, they bought many units at Lucky Plaza and other developments there. It cost less than a hundred thousand then. Their yearly rental now is well over the purchase price !

Likewise sinkies like ah neh royal bros got rich trading these strata units
 

johnny333

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The co owner KC kwek is related to the hong leong family.
Rich kid can easily relocated to one of his uncle's many properties.
This fucktard started the thai disco business because his current wife was an ex flower girl who needed a job to remain staying in Sg. The wife named Mimi Pebbles. Hot thai chick who bagged the ultimate prize.


Got a picture of her :smile:
 

Timerty

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The $6.50 char kway tiao that I eat at vivocity foodcourt is previously from Orchard road carpark. Maybe the rent high that's why move.
 

Narong Wongwan

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Got a picture of her :smile:

Hehe got but can't post else would reveal my identity and people might say I'm a sore ex bf.
let me trawl the fb and see if can get any links....anyway she is a milf now after giving birth to kids....so her position and inheritance is secured. Anyway when the hubby was courting her time he had to buy out some of her ex bfs....especially those thai gigolos who were with the band.
KC is a nice enough guy for someone who is scion to billionaire family.....used to drive around in only a RX8......think he wants low profile to fend off the gold diggers but can't fight off thai charm eventually.....family had a hard time accepting the thai girl initially
 

johnny333

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Hehe got but can't post else would reveal my identity and people might say I'm a sore ex bf.
let me trawl the fb and see if can get any links....anyway she is a milf now after giving birth to kids....so her position and inheritance is secured. Anyway when the hubby was courting her time he had to buy out some of her ex bfs....especially those thai gigolos who were with the band.
KC is a nice enough guy for someone who is scion to billionaire family.....used to drive around in only a RX8......think he wants low profile to fend off the gold diggers but can't fight off thai charm eventually.....family had a hard time accepting the thai girl initially


Always interested in seeing pictures of the rich, famous, notorious,... especially if they are females. :smile:
 
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