daily planet brothel for sale

Daily Planet brothel for sale

September 13, 2004

THE owner of Melbourne's Daily Planet brothel is selling up, saying it is scaring off investors in his other business.

John Trimble today said ownership of the Daily Planet was restricting the publicly-listed Planet Platinum's opportunities to expand in the adult entertainment industry, and shareholders had decided to put the bordello on the market.
The Elsternwick property and business can be bought either separately or as a package at public tender which closes on October 8.

Mr Trimble said the Daily Planet was a flourishing business that would generate about $2 million in profit if the property and business were bought as a package.

The property alone, which was being offered for sale with a 30-year lease, as well as two 10-year options, had a commencing rental of $483,000 a year, he said.

"The Daily Planet has been a tremendous business for me," Mr Trimble said.

"I have developed the business over nearly three decades to have one of the best-known bordello trademarks in the world.

"I have no doubts that the new owner will be able to add value to the business, especially in the area of escort services."

He said there was also the option of expanding or taking the Daily Planet brand name interstate or overseas.

Mr Trimble said Planet Platinum, of which he is chairman, had no option but to sell the premises and the business because the Business Licensing Authority, which had the power to perform police checks on shareholders, was scaring off investors.

At 10.25am (AEST), shares in Planet Platinum were steady at 40 cents.

AAP


This report appears on NEWS.com.au.