48 Reed Street AshmoreThe family has renovated the home during the past two years to fit their own style.“My wife Denise is an interior stylist for resorts in Port Douglas,” Mr Simpson said. “We added some lighter interiors to pair with the dark structure inside the home. We wanted to create a place that was homey and comfortable so we kept finishes to a minimum. 48 Reed Street AshmoreThe five-bedroom, four-bathroom home combines lodge charm with modern fixtures to create a comfortable, stylish retreat. Soaring ceilings, skylights and floor-to-ceiling windows maximise natural light, breezes and a sense of space. 48 Reed Street Ashmore“It wouldn’t really be a pub without the paraphernalia so it was fair that Wayne left his stuff in it,” Mr Simpson said. “I have added a bit of Maroons’ memorabilia to it as well.” More from news02:37Purchasers snap up every residence in the $40 million Siarn Palm Beach North12 hours ago02:37International architect Desmond Brooks selling luxury beach villa1 day ago48 Reed Street AshmoreWith a number living spaces on the property, the home has two main bedroom suites including one with a private balcony.A spa and sauna feature in the main bathroom. The architect, who is working on resort designs in Port Douglas, described the home as an “entertainer’s dream”. 48 Reed Street Ashmore“My wife Denise and I were attracted to the water and the amount of green space,” Mr Simpson said. “The jetty is good for fishing and it is fixed – so when you sit back and relax on it, it feels like you’re on the back of a boat.” The home channels a Scandinavian-lodge style with thick brick walls, timber rafters and raked ceilings as well as an open fireplace. “I’m tired of homes that are so open and modern they feel cold and empty,” Mr Simpson said. “I really wanted something with a bit of warmth and soul. This home had it.” 48 Reed Street AshmoreCHAMPION golfer Wayne Grady’s paraphernalia was part of the deal when architect Andrew Simpson bought the golfer’s palatial home two years ago. The sprawling 3364sq m property has a putting green, resort-style swimming pool and its own pub. 48 Reed Street Ashmore“I think we will miss the privacy the most.” The home features a wine cellar, poolside gazebo, teppanyaki grill and pizza oven, and a private jetty at the riverfront.
33 Simla Ave, Geebung. Photo: realestate.com.auMore from newsFor under $10m you can buy a luxurious home with a two-lane bowling alley5 Apr 2017Military and railway history come together on bush block24 Apr 2019This three-bedroom, three-bathroom circa 1948 post war home could be your next renovation project.Located at 33 Simla Ave, Geebung, the property is within a renowned family-friendly neighbourhood.Set on a 665sq m allotment, the property offers a fabulous opportunity to live in as is or develop. Currently the floor plan consists of a combined lounge and dining room, a large neat and tidy kitchen with convenient gas top cooking, and a north facing undercover entertainment deck. Additional features include, airconditioning to the main living area and two bedrooms, easy care polished timber floors in main living areas, a separate downstairs laundry with lockable utility room, workshop, and second toilet.
30 Cressbrook Drive, Albany Creek.The property, on an elevated 891sq m block, is made of solid brick.The five-bedroom, two-bathroom home is close to parklands and schools. The Bunya State Forest is only 500m away.More from newsFor under $10m you can buy a luxurious home with a two-lane bowling alley5 Apr 2017Military and railway history come together on bush block24 Apr 2019“I really love this area,” said Mr Littlewood, a father-of-three.“Everyone seems to love keeping fit and healthy around here.”Mr Littlewood said the swimming pool was a big hit during the summer months and plenty of time was spent outdoors.He said there was a playground for kids at the back too. 30 Cressbrook Drive, Albany Creek.It may be a reluctant sale for Lee Littlewood, but he’s determined to see his Albany Creek home go to a family who can enjoy the large allotment.The lowset property at 30 Cressbrook Drive features an in-ground saltwater pool with a spa seat, low-maintenance garden, and an insulated alfresco entertaining area, with a gas fireplace.Mr Littlewood, a ceramic tiler, has recently adding his own touches to the home, retiling the main floors.He has also upped the security of the home and repainted the eaves. 30 Cressbrook Drive, Albany Creek.Harcourts Solutions selling agent James Gwynne said the home was exactly what a growing or grown up family needed.“With a formal lounge and dining area, a relaxed family room and a large modern kitchen at the core, there is plenty of space for everyone,” Mr Gwynne said.“Look forward to a glass of wine on the patio, cozying by the fire or watching the kids play in the pool.” 30 Cressbrook Drive, Albany Creek.Other features of the property include a large separate laundry, split-cycle airconditioning, a double lock-up garage with automatic doors, and solar hot water. The main bathroom has a bathtub with separate shower.
While you were watching Rekindling, right, win the Melbourne Cup the RBA governor decided against raising interest rates. Picture: AP Photo/Andy Brownbill.FEAR not, while you were out watching the best horse race in the world, there was no rekindling of whispers over the Reserve Bank putting dynamite under interest rates – which remain on hold at 1.5 per cent. Faced with a barrier of growth in housing debt outpacing growth in household income “for some time”, RBA governor Philip Lowe went the safe route, preferring to sit on his hands than risk upsetting the market.More from newsParks and wildlife the new lust-haves post coronavirus23 hours agoNoosa’s best beachfront penthouse is about to hit the market23 hours agoRBA governor Philip Lowe still has some concern over household debt levels. Picture: Colin Murty The AustralianHe’s still backing APRA to chase down “medium-term risks associated with high and rising household indebtedness”, with the credit field tightening substantially already.“Housing market conditions have eased further in Sydney. In most cities, housing prices have shown little change over recent months, although they are still increasing in Melbourne,” he said.“In the eastern capital cities, a considerable additional supply of apartments is scheduled to come on stream over the next couple of years (he’s looking directly at you Brisbane)!”It seems the best thing right now is to ride out the supply storm, with low rates “continuing to support the Australian economy”, according to Mr Lowe.
The home was sold to a Sydney-based family.Mr Arthur said the buyers inspected the property twice.He said Mandalay house was one of Australia’s trophy homes.“The property won Mansion Global’s, Property of the Year in 2016.’’The buyers visited the property twice before buying it.“In the end I think both the sellers and the buyers were extremely happy with the final outcome.“They (the buyers) are a Sydney-based family so it is going to be a wonderful summer home for them and their extended family.’’ The property was expected to be used as a holiday home.Mr Arthur said there were not many people who could write a cheque that big and not have it as their primary residence.Property records reveal it was previously owned by property developer Neil Murray and his wife Denise. FOLLOW MICHELLE HELE ON TWITTER No expense was spared building Mandalay House.The property has a marina big enough for two 21m yachts, a helipad, climate-controlled wine cellar with dining for 12, six kingsize bedrooms, nine bathrooms and an infinity pool overlooking the Whitsundays.Marketing agents Mark Beale of Ray White Whitsunday and Carol Carter of Sotheby’s International Realty declined to comment on the deal.Queensland Sothebys International Realty CEO Paul Arthur confirmed the buyers were from Sydney and would not live in it full time.“It settled last Friday,’’ he said.More from newsParks and wildlife the new lust-haves post coronavirus23 hours agoNoosa’s best beachfront penthouse is about to hit the market23 hours ago“They (the buyers) are interstate, they were from Sotheby’s Private Clients and they are a Sydney-based family.’’ The owners had originally wanted a $25m for the 4114sq m property.STUNNING Whitsundays’ property Mandalay House has finally sold at a massive discount from its original asking price.The sale price is shrouded in secrecy but it’s understood the property changed hands for around $14 million.Its owners had originally wanted a $25 million for the 4114sq m Airlie Beach property when it was first advertised in 2013.
Other speakers on the panel acknowledged that the debate was a question of difference – that long-term investors rightfully co-exist with investors whose model is short term.However, Sandy Frucher, vice-chairman of Nasdaq, said a long-term view was a better way to gain asset appreciation than a short-term perspective.Thabo Khojane, managing director Africa Client Group at Investec Asset Management in South Africa, said that, for an investment manager, time horizon was primarily a function of the client’s mandate.It comes down to what an investor thinks about risk.He said: “If it is important for clients to have a benchmark against an index or against a peer group, and the way they think about risk is in terms of volatility or tracking error, then the horizon will be slightly shorter, typically a rolling 12-month or three-year horizon.“However, if the client is for an absolute outcome, a benchmark against cash and against inflation, and the way they think about risk is not in terms of volatility or tracking error but in terms of capital cost, then typically the mandate will give you a much longer horizon.”He added: “The reality is that, the longer the horizon, the more time an investment manager has, the easier it is and the more likely it is that he will be able to deploy his skills and meet the requirements of the client.“Clearly, a longer-term horizon makes it easier to make money.” The long-term versus short-term debate, which has occupied financial markets across the world post-crisis, is divisive, responsible investors have been told.Speaking at the recent ‘PRI in Person’ event in Cape Town, South Africa, Erika Karp, founder and chief executive at US-based Cornerstone Capital, said: “The problem is the use of language in a kind of judgemental and in a potentially divisive way. There is nothing inherently wrong with short-term [investing] if the systemic risk is managed reasonably well and there is transparency.“The language of sustainability – whether it is SRI, sustainable investment, the double or triple bottom line, impact investing, values-based investing – they all are good, […] and the opposite is implied to be bad. This is where it gets divisive.“So this needs not to be about an ideology, it needs to be about pragmatism. It doesn’t need to be about values, it needs to be about creating value. So any debate like long-termism or short-termism, […] to some degree, could be a waste of time.”
Norway’s Government Pension Fund Global (GPFG) has excluded three companies from its investment universe, including two Israeli firms only re-admitted in August last year.The move to blacklist Israel’s Danya Cebus and Africa Israel Investments, previously excluded over their involvement in construction work in the West Bank, came as the Norwegian Ministry of Finance said it would also bar the nearly NOK5.1trn (€606bn) sovereign wealth fund from owning North Korean, Syrian and Iranian government debt.The ministry said the decision to bar the two Israeli companies came after the fund’s Council of Ethics was informed that Danya Cebus – a listed subsidiary of Africa Israel Investments – was now undertaking construction work on settlements in East Jerusalem.The Council recommended in November last year that both companies be divested once more, as there was a risk they were “contributing to serious violations of the rights of individuals in situations of war or conflict”. The decision comes only weeks after Dutch pension manager PGGM sold its shares in five Israeli banks over their involvement in settlement activities, causing the Israeli government to summon the country’s Dutch ambassador to explain the move.Additionally, the GPFG will also blacklist mining company Sesa Sterlite after Vedanta Resources, excluded in 2007, gained a controlling interest in the Indian firm.The Council’s recommendation said Vedanta’s exclusion should be maintained, and that Sesa should be added to the list of barred companies over the “unacceptable risk of the company being responsible for severe environmental damage and systematic human rights violations”.The Finance Ministry has also decided to allow the fund to invest in sovereign and government-backed bonds issued by Myanmar.In a statement, it stressed that the oil fund was not to be viewed as an instrument of foreign policy and that it only barred sovereign bond investments in exceptional circumstances.“The Ministry of Finance, in consultation with the Ministry of Foreign Affairs, has made such an assessment and concluded that the exemption should no longer apply to Myanmar, but that North Korea, Syria and Iran should now be covered by the exemption,” it said.As of the end of 2012, the GPFG had no fixed income exposure to any of the three newly banned countries.,WebsitesWe are not responsible for the content of external sitesLink to the recommendations by the Council of Ethics
The Local Authority Pension Fund Forum (LAPFF) has said it will vote against Barclay’s executive remuneration plan at today’s annual general meeting (AGM), while attacking its decision for Sir John Sunderland to lead the selection of the bank’s new chairman.The forum, a shareholder voting group for 60 local authority funds with more than £120bn (€146bn) in assets, said it believed institutional shareholder pressure was the only meaningful way to spur change at the bank.Sunderland is currently non-executive director at the bank, and former head of the remuneration committee, which came under severe criticism from shareholders for excessive pay.Councillor Kieran Quinn, who chairs the forum, said: “Sir John Sunderland has fortunately recognised it is inappropriate for him to serve as chair of the remuneration committee, but how can it be appropriate for him to lead the selection of Barclay’s new chair? “It appears that a continuing series of no votes by institutional shareholders is one of the few options open for meaningful engagement at Barclays.”The re-election of Sunderland and planned remuneration are two of the bank’s proposals expected to be rejected by the Forum and fellow institutions at today’s AGM.Pensions & Investment Research Consultants (PIRC), a proxy-voting service, has advised its members to follow suit.Standard Life Investments (SLI), asset manager and institutional shareholder, also denounced the bank’s remuneration policy.Owning 1.92% of the bank on behalf of its clients, SLI said it did not take the decision to reject the remuneration report lightly.Alison Kennedy, stewardship director at the manager, said: “We appreciate there were competitive pressures. Nevertheless, we are unconvinced the amount of the 2013 bonus pool was in the best interests of shareholders.“The board has stated its intention of reducing the compensation to net income ratio over the medium term. We support this intention, and it is important that, over time, the board demonstrates convincingly this will be achieved.”A spokesman for the LAPFF added that, while Barclays was a high-profile example, it was the tip of the iceberg for the problems in the financial sector.“The LAPFF has a long history of raising governance concerns at Barclays and at banks in general, going back to the LIBOR scandal, executive remuneration and accounting standards,” he said.“It is clear Barclays is the tip of the iceberg of dissatisfaction from pension funds.”
Denmark’s Sampension has said it is making its first direct investment in green energy, financing a new 33MW wind farm to be built in west Jutland.The DKK195bn (€26.1bn) labour-market pension scheme is financing the 10-turbine Ulvemosen wind farm project in Varde, which will be established and operated by wind and solar-power developer European Energy.Anne-Charlotte Mark, head of equities and alternative investments at Sampension, said: “Ulvemosen is our first direct investment within renewables and part of the strategy to increase exposure to energy-related infrastructure.”Sampension said it had high expectations for the project. European Energy said the project would be owned by Sampension but that a part of it would be owned and operated by local land-owners and neighbours to the project.The developer said it had been planning the project for the last 4-5 years.The plant will have an estimated output of around 100GWh a year, equal to the energy consumption of 20,000 households, European Energy said.Danish manufacturer Vestas said European Energy has placed an order with it for 10 V117-3.3MW turbines, which is being financed in collaboration with Sampension.The turbines are expected to be delivered and commissioned in the fourth quarter of this year.
Icelandic pension funds are to partially finance a $300m (€266m) silicon metal plant in the country’s north, partnering with Germany’s development bank for the project.The factory, to be built for Germany’s PCC Group near the town of Húsavík, will attract up to ISK7bn (€46m) in direct investment over the next three years, Íslandsbanki Corporate Finance estimated.KfW IPEX Bank, the subsidiary of Germany’s Kreditanstalt für Wiederaufbau dedicated to project finance, will cover the majority of the construction costs.The domestic pension sector was previously said to be contributing more than one-quarter of the $300m in financing, with a statement from Íslandsbanki confirming that the funds would now contribute $80m through Bakkastakkur, a joint venture among more than 10 funds and the bank. Bakkastakkur and the associated pension funds will offer debt financing and receive preference shares in PCC BakkiSilicon for providing financing.The project received final approval after three years of planning when the EFTA Surveillance Authority, the regulator charged with overseeing the European Economic Area, ruled in May that the terms agreed between Iceland’s state power company and PCC to supply energy to the new plant did not constitute state aid.Birna Einarsdóttir, chief executive of Íslandsbanki, hailed the final agreement as an “important milestone”.“It is a very positive step for the Icelandic economy, as it directly supports employment development in the northern part of Iceland, as well as investment,” she said. Icelandic pension funds soon face the prospect of the government relaxing capital controls imposed after the 2008 collapse of several local banks.