Quote:
Originally Posted by retirebatam
We define Fixtures as items attached to the property like central air-con, central water heater, timber flooring, doors, fitted carpets, light fittings, exhaust hood, fixed cabinets, integrated appliances, wirings, piping and other renovation finishes, etc
Whereas Fittings are items not attached to the property and movable like beds, cooking utensil, table&chairs, curtain, fridge, towels, bed sheets, sofa, table lamp, speakers, amplifiers, etc
(............)
If Fixtures + Fitting put up for sale at S$13 million and Fittings alone sold for S$27k, then it would be difficult to sell the Fixtures at S$12,973,000  |
Your posts are always very informative. Thanks.
I have a comment though: both fixtures and fittings of Formosa are old and need a complete renewal, even after the recent remodeling.
If I want to start a new hotel, I would try to buy the naked building for a piece of bread, then invest in renewing most fittings. Only at that point, we can invest in fixtures and launch brand new Formosa 2 with credible chances to be one one of the best places to stay in Batam.
Because of COVID, maybe now the investment to buy the building can be small. It could be a long-term investment, for better times to come.
This is mainly my hope. What else could they do with the building? A mall??