This is playing on my local radio station (Radio Jackie) at the moment. When I first heard this when I was a kid I didn`t realise what it was about. What a good song it was though isn`t it? (I have since spent many a night at Patpong and I know exactly what it is about)
There seems to be some doubt as to the history behind the story which resulted in the song being written. Perhaps somewhat oddly though, I've always remembered it more for the deletion of 'Coca Cola' from the lyrics:
https://en.wikipedia.org/wiki/Lola_(song)