Nana Plaza has got five years left, tops...

[Snick]

The one thing that Nana has got going for it is Go-Go licenses, which are not being issued anymore. That makes Nana 'special'.

[Tomcat]

(doug @ Mar. 16 2008,22:21)  You have to admit that it's a possiblity at least.

Of course Doug , there is a possibility. Also i dont think that prostitution has quite the same veneer that is did say in 1991. Even in the UK now its pretty much accepted and allowed with some constraints.

If Nana did close it would move move elsewhere, thats a given. I sure the bar owners would find a way even taking into account what Snick said.

Thank God for corruption...

[mardhi]

(Snick @ Mar. 16 2008,21:32) The one thing that Nana has got going for it is Go-Go licenses, which are not being issued anymore. That makes Nana 'special'.

That is the key - these cannot be obtained anymore outside of zoned areas. So what value do you place on 20 odd entertainment licences that cannot be moved??? In my mind its more than the real estate they sit on.

Cheers
Mardhi

[mardhi]

(doug @ Mar. 16 2008,21:21) Yep, Tomcat's right.  People are getting all bent at the mere suggestion that Nana may not be eternal, but the fact is, it hasn't been around all that long, so if it doesn't last another 5 years, it wouldn't be that big of a surprise.

It will not be the end of the world if Nana folds up tomorrow.  So no reason to get your undies in a bunch.  If Nana folds, some other place will take over.

I'm sure people have been predicting it's doom since it first opened, but it's a fact that eventually they will be "right".  Nana will fold eventually.  That's a given.  Nothing in this world is permanent.  My contention is that it'll be soon.

Some of you pish-posh at that and say that you've "heard similar predictions for the past 10 years and they've all come to naught."  And you're right.  Nana has stuck around despite many "the lease is up" rumors.

However, if you're just dismissing this because "you've heard it all before", then you're not really taking a good look around.  Things are different.  There is a lot of development pressure on that area right now.   There is also a lot of pressure from the government to "clean up" the sex industry (and by that, they don't mean get rid of it, but rather make it start paying taxes).

Those two things right there spell a shift away from low-end shitpits to spas and resorts (like you see on Ratchada).  Nana is the ultimate shitpit and it also happens to sit on some highly desireable real estate.  Exactly how long do you think that kind of situation can continue?  Especially given the weak dollar?

I'll agree that it's unlikely that Nana will shut down tomorrow.  But within the next 5 years?  Come on guys.  You have to admit that it's a possiblity at least.

But dont forget Doug - zoning laws are in effect which severely limits what could be built in the space currently occupied by NEP - for a start they cannot build above 8 floors (witness Dynasty Grande as recent example on low width soi) + they have to keep 2m away from adjacent buildings on any new build - now go figure how a new building can go up in that area with a 3m wide access road. Once the numbers are chewed - I supect it will be more of the same - not to say it aint to happen but today, the numbers don't add up (or at least to me).

Cheers
Mardhi