Hangzhou Jinmao was accused of many ills and was suspected of fraud.

65438+1On October 28th, a negotiation was going on in Hangzhou Jinmao Mall. One side of the negotiation is Chen Xiao (Weibo) Dong, general manager of Zhejiang Jinmao Commercial Management Co., Ltd. (hereinafter referred to as Jinmao Commercial), and the other side is 10 shop owners. The owner repeatedly came to ask for rent because he failed to fulfill his promised rent. However, after two hours of angry words, the negotiations ended without results.

Hangzhou Jinmao was accused of many ills and was suspected of fraud.

According to an owner, such a scene is staged almost every day. "Jin Mao's proposal of' deferment of three-year rent' is actually a white note, and we can't agree." After many unsuccessful negotiations, the owner has decided to take legal channels and take Jin Mao to court.

Bet on commercial real estate

The Jiubao business district in the east of Hangzhou, a furniture market covering an area of 400,000 square meters, is quite eye-catching, but under the gorgeous appearance, the whole market is rarely visited and the business is very deserted. This is the first home carrier in East China-Jinmao Mall that Zhejiang Jinmao Industrial Development Co., Ltd. (hereinafter referred to as Jinmao Industry) is trying to build. A commercial complex with a total development scale of 600,000 square meters and an investment of 2 billion yuan. However, the first phase of the project has not been able to attract investment since 20 1 1 was completed and opened for business.

"The failure of this project is first of all the positioning problem." A real estate person who asked not to be named told 2 1 Century.com. In its view, there is a surplus of commercial projects in Jiubao business district. In 2006, after the Hangzhou municipal government put forward the strategy of "150 billion decisive battle in the east", Jiubao, as the core block of "Dongcheng", became a beacon in the eyes of real estate developers, and commercial real estate projects once blew out.

"There are more than 30 professional markets, big and small, and there are 4 or 5 in the home market alone. But Hangzhou's domestic market is already saturated. Jinmao Industry is going to such a big market, and there is obviously a lack of sufficient argumentation in the early stage. " The above-mentioned real estate people said.

An example is that there is also a Evergrande building materials market 500 meters away from Jinmao Mall, with an investment of 800 million yuan and an area of 280,000 square meters. Business has been sluggish since it opened in 2007. It is understood that in order to introduce Evergrande project, Hangzhou Municipal Government will not build new ceramics and building materials markets in Jianggan District and Hangzhou Economic and Technological Development Zone in its reply document (No.government office B2006 142 1).

"(This area) can't even feed a home market, let alone four or five now." The source pointed out that "although Jin Mao started out as a real estate business, he has never run a commercial real estate project, and the pace is too big."

An industrial and commercial information obtained according to 2 1 century. Jinmao Industry was established in 2007 with a registered capital of 1 100 million yuan. The investors are Liu, Zheng Guangshan and Chen Xiaodong. Jinmao Mall is its first commercial real estate project.

But Chen Xiaodong does not agree with this view.

"This project was fully demonstrated in the early stage, but it caught up with the bad economic situation." Chen Xiaodong explained. According to the pre-plan of Jinmao Industry, the investment in the first phase of 400,000 square meters market is about 65.438+0.5 billion yuan, and 40% of the shops are sold abroad, which can bring back 65.438+0 billion yuan. The rental income is conservatively estimated to be about 200 million yuan per year. Excluding the annual operating expenses and land rent of 20 million yuan, the investment can be recovered in three years.

But what Chen Xiaodong didn't expect was that after the market was built, the investment promotion work was not smooth. "In the first year, the occupancy rate of shops in the whole market was around 40%, mainly concentrated on the first floor of the market. Now what you see is the time when the rental rate is the highest. " Chen Jing (pseudonym), the owner, told 21Century.com that the owner thought that Jinmao was not capable of operation.

Chen Xiaodong, who questioned this question, said that the supporting facilities in this block have not kept up, and the economic and industrial recession is the main reason for the unfavorable investment. "Nine Treasures has developed too slowly in the past two years. For example, this elevated road in front of the market should have been built as early as two years ago, and construction has only begun now. "

In fact, the plight of Jinmao Mall is also a true portrayal of the current situation of the home market. It is understood that since 20 12, the home furnishing industry has been in a continuous downturn, with foreign giants The Home Depot and B&Q losing to China one after another, and local leaders Dongfang Home and Easyhome also falling into operational difficulties one after another.

Multiple ills

However, it is an indisputable fact that the Jinmao Mall project is now in critical condition, even though Chen Xiaodong explained it in every way. The break of the capital chain, the exorbitant asking price of the landlord and the withdrawal of merchants are the three major ills that Jin Mao must solve. Due to unfavorable investment, it is estimated that the annual rent of 200 million yuan will hit Shui Piao, and the rental rate of shops is high and the industry situation is sluggish, which increases the difficulty of market operation.

On the day of 2 1 century. com's investigation, the whole market was extremely deserted, with only a few guests patronizing within one hour. The business depression also caused businessmen to retreat. "Because the business is too bad, the opinions of the merchants are also great. Some refused to pay the rent, and some asked to withdraw from the market. " Owner Yu Shougang (pseudonym) told 2 1 Century. com.

In order to retain merchants, Jin Mao had to introduce a three-year rent-free policy. This means that Jinmao's previous profit plan of "supporting the city by rent" completely failed, which directly affected Jinmao's cash flow and also caused Jinmao to fail to fulfill the store leaseback contract signed with the owner.

According to the contract provided by Yu Shougang, the fixed income for the first two years is 7% and 8%, and the guaranteed income for the third to sixth years is 6%. You can apply for returning the store in the sixth year. If the shop is not returned, from the seventh year to 19, the developer and the subscriber will share it according to 1: 9.

According to the promise, the owner's investment income will be 70% within six years. If she leaves the store after six years, she can still get 50% income, and the return on the contract she signed is more attractive. "We bought 8% in the first three years of 2009, 1 1% in the fourth year, 15% in the fifth year and 20% in the sixth year. You can apply for returning the store two months at the end of the fourth, fifth and sixth years. "

"Many people decide to invest because they are interested in such a high return." Chen Jing said, "The two bunks in her hand are the dowry prepared by her parents. A * * * spent nearly 2 million, and we were quilted. " It is understood that there are 2,300 car owners trapped like Chen Jing. "20 10 and 20 1 1, the rent was paid on time, but now there is a problem. 20 12 the rent for the first half of the year has not been paid back. " Chen Jing said.

In order to recover the rent, Chen Jing and many owners have repeatedly negotiated with Jin Mao and Chen Xiaodong, but the results are not satisfactory. "Chen has been making enamel on the grounds of tight capital chain, defaulting on rent, and only giving some people late fees. Now he doesn't even want to pay the late fee. "

In response to this statement, Chen Xiaodong said frankly, "Jin Mao's capital chain is really a bit nervous. We developed the whole project with our own funds, without bank loans. Market construction has invested 654.38+0.5 billion, plus two-year leaseback of 654.38+0.8 billion, and bank deposits of 654.38+0.8 billion. Jin Mao is really difficult now. "

The negotiations are deadlocked.

However, the owners did not buy Chen's response.

"In the beginning, the store only sold 40% and had 60% in hand. Why not sell these shops in exchange for funds? " One owner suggested this. However, Chen Xiaodong totally rejected this proposal. "I will definitely not sell 60% of the shops. I have already regretted selling 40%. If I hadn't sold it then, I wouldn't have spent any money on this lease. Even if the market is not good now, it will be ok for at least two or three years. We have been in real estate for many years, and our savings are still a little. I can't wait to buy these stores back! "

According to Chen, the owners agreed that Jin Mao's capital chain was not broken, just relying on money not to give. In order to get back the rent, the owners went to Chen Xiaodong's office to collect debts every day, but Kerwin Chen did not shy away, smiled at each other and set a repayment date, but most of these promises were not fulfilled afterwards.

A landlord got a dozen letters of commitment, but there was no rent at all. She told 2 1 century. "Golden retriever made her feel very disappointed. Not only was she dishonest, she promised to give money every time, but she broke the contract that day; Moreover, the owners are not treated equally. They have money if they are fierce, but they can't get money if they are honest. "

During this period, Jin Mao also proposed a solution: give Jin Mao three years, postpone paying back the rent for three years, and pay back the interest of the rent during this period. For this plan, the owner questioned that Jin Mao was making white bars. "After three years, who can guarantee that the market will get better, and at that time, several surrounding home markets have also risen and the competition is more intense." Most owners asked Jin Mao to perform the contract, and some owners also asked to return the shop. Jin Mao has been biting the "three-year deferred payment" scheme.

The two sides refused to give in to each other and the negotiations were once deadlocked.

It is understood that after many unsuccessful negotiations, the owners have lost patience and began to look for legal channels to protect their rights. Regarding this practice of the owner, Chen Xiaodong said that if the court files a case, Jin Mao will definitely go bankrupt, and he implored the owner to let Jin Mao go.

However, according to the survey of 2 1 Century. com, Jinmao still has room to move. After investing in Hangzhou Jinmao Mall project, Jinmao Industry also invested in Yueqing Jinmao Commercial Plaza and Dalian Jinmao Century Plaza. These projects are now in the payback stage and can be used for blood transfusion for Jinmao's Hangzhou project.

Among them, Building A and Building C of Yueqing Jinmao Business Plaza, 65438+129 just got the pre-sale certificate and opened on February 2. According to the data of Wenzhou Real Estate Administration, 45,686.47 square meters of houses will be available for sale. Based on the published price of10.4 million yuan/square meter, all houses will be returned to 640 million yuan after sale.

Hidden chaos

According to Yu Shougang, there is another reason why the owners decided to seek legal channels. "With the development of the situation, the owners found that the actual risk of this Jinmao Mall project far exceeded their imagination, and some hidden chaos and even illegal acts were uncovered one by one."

The first is the marketing method of "sale and leaseback". It is understood that this marketing method was stopped in September, 20001year by the Measures for the Administration of Commercial Housing Sales promulgated by the State Council.

Now the "sale and leaseback" mode operated by Jinmao is not operated by real estate developers in the past, but by a re-registered commercial operating company (Jinmao Commercial) signing a lease contract with the purchaser, promising a high rental return.

That is to say, the "developer" of Party A (Jinmao Industrial) sells to the "investor" (buyer and owner) of Party B, and both parties * * * seek the "operator" (Jinmao Commercial) of Party C, which will operate on behalf of Party C, and the return will come from Party C. By doing so, the developer reasonably evades the relevant laws and regulations of the state to divide the real estate, real estate and other assets equally, and its share disposal right is enhanced.

After the two parties signed the contract, Jinmao Industrial only issued receipts, not invoices, which was suspected of tax evasion. "In the previous negotiations, Jin Mao once agreed to audit the finance, but later disagreed with the audit, which may be related to this." Yu Shougang said.

In addition, Jinmao Mall operated for one year without a market license, and it was not until June 5438+February last year that it obtained a market license and a fire permit. According to national regulations, businesses can't start business without market certificates and fire protection certificates.

Among many obligees, some are suing Jinmao Industry for "suspected fraudulent sales". "I signed the contract in July 2002+2065438. Jinmao Industrial signed a so-called' sale and leaseback' contract with me knowing that it had not paid the rent, which was completely fraudulent. " At the negotiation site, an owner said angrily. In this respect, Jin Mao has a criminal record. In 2008, the company owned by Chen Xiaodong and Liu was punished by Yueqing Industrial and Commercial Bureau for falsely reporting the annual inspection materials.