IPE Awards Seminar: Hans Blix sings praises of nuclear power

first_imgWhile not opposed to wind and solar power, he believes those sources of energy are consolations for a public that dislikes fossil fuel and finds it hard to accommodate nuclear power.He also said solar and wind power were ”intermittent” sources that needed a back-up, making them costly and problematic.He added that the prioritisation of subsidies to renewable sources had in turn made nuclear energy more expensive.Following his keynote speech at the IPE Awards Seminar he said: “We have failed in persuading the public that the risks [of nuclear power] are relatively small.”He likened nuclear power to the fear of flying – many people were scared of it, and while it was breaking with nature, the risks were very small, and humans could not do without it.“Contrary to what is sometimes written,” Blix told IPE, “the world is not milling with would-be nuclear weapons – in fact, the world is becoming more peaceful.”The only two important flashpoints that remain, he said, are Taiwan and Kashmir, which are “mostly handled prudently”.In his keynote speech at the Awards Seminar, he said: “While some 50 years ago, US president John F Kennedy feared there could be dozens of nuclear weapon states, the number has only increased from five – the P5 – to nine, by the addition of India, Israel, Pakistan and North Korea. On the other hand, Belarus, Kazakhstan and Ukraine surrendered their nukes to Russia, South Africa dismantled theirs and Iraq and Libya were stopped in their quest for the weapons.“For my part, I would be more tempted at this time to ask whether the current dominant Western assessment of Iran is as flawed as that which was acted upon in Iraq. In the case of Iraq, a main reason presented for the attack was to destroy weapons of mass destruction – that did not exist. In the case of Iran, all agree there are no nuclear weapons. Are we witnessing a threat of an attack on intentions that may not exist? And, if bombardment of targets in Iran were to be undertaken, as is urged by some, what would follow?”He continued: “The world knows these weapons are capable of causing mass destruction, and it is thought that a nuclear Armageddon could even destroy human civilisation. Yet, we might do well to remember that the mass destruction caused in Tokyo by incendiary weapons was of the same dimension as that at Hiroshima and Nagasaki. It was the terror aspect that made the awesome difference. We can only hope the taboo on nuclear weapons will continue to prevent their use and lead to their eradication – the global zero.”Blix pointed out that the real weapons of mass destruction in today’s world were the small-calibre weapons used by soldiers, child soldiers, terrorists and civilians and causing “innumerable” casualties.He pointed out that the safety of nuclear power had improved substantially, with only three major accidents occurring in our lifetime.He added: “If you look at unplanned stoppages, we had about 70% availability in the 1970s, which has risen to a 90% availability today. That shows that [nuclear power plants] are running more reliably and more economically than in the past.”He stressed that he was less worried about a potential small leakage of nuclear waste in 1,000 years’ time than an increase in global temperatures.Blix said: “The techniques they have worked out for the disposal of waste are very reassuring. On top of that, it is a very sustainable source of energy, covering our energy needs for thousands of years ahead. Moreover, while it is a mature technology, it is not at the end of its technological evolution. We see today a lot of design and research going into new types of fuel and new types of reactors.”Blix was director general of the International Atomic Energy between 1981 and 1997. Climate change is the biggest threat to humankind – moreso than war, weapons of mass destruction or nuclear power – according to Hans Blix, former UN senior weapons inspector and former foreign minister of Sweden.He said less than a dozen governments in the world were in possession of nuclear arms – while the world’s 7bn people all wanted access to energy, of which currently 85% comes from fossil fuel, against a background of rising greenhouse gas (GHG) emissions.Blix spoke with IPE ahead of this year’s IPE Awards in Noordwijk, the Netherlands.“My response to counter CO2 and other GHG emissions is two-fold,” he said. ”The first is energy efficiency and the second is nuclear power.”last_img read more

UK government report on long-termism criticised for failure to offer definition

first_imgKeating criticised that the BIS report discussed matters of market liquidity and earnings guidance, but did not offer a frame for what constituted long-termism.He also said it put forward an inconsistent view on dividend payments, as it supported he payment of dividends as a means of preventing empire building, despite also arguing that dividend payments must not prevent a firm’s growth.Keating said he regarded as “bizarre” a suggestion that those who divest from companies should be interviewed on their reasons.“Quite apart from the sheer impracticality, it is motivated by concerns with share price performance – short-termism writ large.”To read the full Guest Viewpoint, see the current issue of IPE The UK government has been criticised for an “incredible” oversight in failing to define long-term investment, despite publishing a report on the matter.Con Keating, head of research at the BrightonRock Group, said a recent Department of Business, Innovation and Skills (BIS) report on the implementation of Kay Review recommendations had failed to establish even theoretical parameters for what constituted long-term investment, nor had interviewees in the report touched on the matter.“One way of definening long term is in terms of the flows of liquidity arising from the securities held, their coupons, dividends and maturing proceeds,” Keating wrote in the Guest Viewpoint in January’s issue of IPE.“When these, rather than changes in market price, dominate investment returns, we are in the long term,” he said.last_img read more

KLP challenges Norwegian municipality over savings boast

first_imgUnder the municipal reform, the areas of Asker, Hurum and Røyken have agreed to merge on 1 January 2020, with the new joint administrative region to bear the name of Asker.Hurum and Røyken staff pensions are currently managed by KLP, the ninth biggest pension scheme in Europe, according to IPE’s Top 1000 survey.The future pension provider for the new joint Asker municipality will be decided upon in connection with the merger, Asker said on its website.No one at Asker pension fund, Asker Kommunale Pensjonskasse, was immediately available for comment.The pension fund had total assets of NOK2.48bn at the end of 2016.In a commentary in Norwegian regional daily Budstikka, Sevaldsen said she was responding to a previous article in which Asker municipality said it had saved several million kroner a year by having a separate pension fund, rather than being in KLP.She said a low level of disability benefits, a high retirement age and low average age of scheme members had contributed positively to lower pension costs for Asker municipality. However, she warned that, over time, these conditions could change.“Two of the most important factors to be considered are the returns achieved on the pension funds and the pension provider’s administration costs,” she said. “Low administrative costs and good returns are often arguments for choosing KLP rather than having a separate pension fund.” KLP’s returns had been better than those produced by Asker’s own pension fund in recent years, Sevaldsen added.“The municipalities must of course choose the pension option they themselves wish,” she said.The director said KLP had a good customer relationship with all three municipalities – Asker, Hurum and Røyken.“We want to help decision makers in the municipalities have as good a factual basis as possible for their important choice of pension solution,” she said.The independent Asker municipal pension fund has managed the occupational pension scheme for the local authority’s staff since 2015.It signed a contract with Storebrand Pension Services in 2016 for insurance, accounting and actuarial services, and Storebrand Asset Management now manages the pension fund’s investments. Norway’s main provider of municipal pensions, KLP, has challenged a claim by a local authority that it saved NOK28m (€2.9m) by running its own pension fund for staff.The municipality of Asker, near Oslo, kept its own arrangements rather than outsourcing to KLP. The authority has attributed the success to factors other than investment returns. However, Marianne Sevaldsen, group director for life insurance at KLP, told local media: “If Asker had been in KLP in the last two years, they would receive more than NOK45m in higher returns.” The comments come as Norway’s ongoing municipal reform is set to reduce the number of administrative regions in the country. The change will arguably increase the viability of independent pension funds, since in some cases several municipalities are clubbing together.last_img read more

Asset management roundup: DWS integrates UN SDGs

first_imgPetra Pflaum, CIO for responsible investments at DWS, said: “Our new SDG rating system significantly enhances our ability to differentiate issuers of equities and bonds based on their contribution to making the world a better place.”UK trade body links with careers group for diversity pushThe UK’s asset management trade body has merged with careers group Investment 20/20 as part of an effort to improve diversity in the industry.In a joint statement, Investment 20/20 and the Investment Association (IA) said they would work to “make the investment industry more accessible and attractive to those from different backgrounds and at all stages of the career path”.They will also seek to improve the number of people returning to the industry after career breaks and attract people from other industries.Investment 20/20 said it had “enabled” more than 1,000 trainees to start careers in the asset management sector in the five years since it was established.Chris Cummings, CEO of the IA, said: “We want to build on the excellent track record of Investment 20/20 to date and ensure greater diversity is firmly at the heart of the investment industry. By joining forces, we can provide more firms access to Investment 20/20’s services.“A diverse workforce and a strong pipeline of talent are key to the success of any forward-looking industry, helping businesses to encourage innovation and new ideas. Our industry must also better reflect the customers it serves and that means raising awareness of careers within our sector and proactively growing an inclusive workforce.”Karis Stander, managing director of Investment 20/20, added that the partnership with the IA would improve the careers group’s “reach and scale”.“Our industry makes a significant contribution to society and provides tremendous opportunities so it is vital that we build a strong pool of talent for the future with young people from all backgrounds to reflect the rich and diverse makeup of the UK,” she said.Investment 20/20 will keep its brand following the merger.La Banque Postale Asset Management pledges 100% SRI managementFrance’s €216bn La Banque Postale Asset Management (LBPAM) has set itself a target of managing all its funds under a “socially responsible investment” (SRI) approach by 2020.In parallel, the asset manager said it would work with those institutional clients whose assets did not yet integrate “extra-financial filters”.Currently just over 50% of its assets – around €109bn – were managed according to an SRI approach, it said.Announcing the commitment last week, president of the board Daniel Roy said the objective was ambitious but the expression of a belief fully shared by the Banque Postale group teams.The asset manager would marshal all its resources to progressively get all its clients adhering to the approach, he added.A 70% subsidiary of La Banqe Postale, LBPAM was ranked 88th in IPE’s 2017 Top 400 Asset Managers report.Two more managers sign up to public sector cost disclosure codeJP Morgan Asset Management and BNY Mellon Investment Management are the latest fund managers to sign up to the Local Government Pension Scheme’s (LGPS) cost transparency code.Both companies were added to the LGPS Advisory Board’s website this week.According to LGPS funds’ annual reports, JP Morgan ran money for at least 14 local authority schemes.The vast majority of groups running money for the LGPS has signed up to the code. Used to illustrate costs, the templates are currently being adapted by the Institutional Disclosure Working Group, following concerns from the UK financial watchdog that costs were not clear enough. DWS – the new brand for Deutsche Asset Management – has said it has “systematically integrated” the United Nations’ Sustainable Development Goals (SDGs). It has implemented a new rating system that uses MSCI’s ESG Sustainable Impact Metrics data to measure how companies and their products or services contribute to the UN’s 17 SDGs. DWS said the system meant it could “identify ESG leaders” through companies’ contributions to the SDGs and their wider compliance with “ESG quality and norm tests”.However, an initial analysis of equity indices found that in each case fewer than half of the underlying companies made a positive contribution, DWS said.last_img read more

Philips scheme not keen on degressive pensions accrual

first_imgAge-dependent pension accrual will be expensive, complex and difficult to explain to members, according to one of the Netherlands’ largest corporate pension schemes.Mike Pernot, director of pensions at the €19.4bn Dutch pension fund of electronics giant Philips, said his fund didn’t need degressive pensions accrual as decided by the government as part of its new pension contract.Speaking at PwC’s annual pensions lecture in Tilburg last week, Pernot said switching to age-dependent accrual – replacing average accrual – would not solve any problems at his collective defined contribution (CDC) pension fund.In addition, degressive accrual was impossible to explain to participants and would be very difficult to process in the scheme’s administration system, he added. According to Pernot, his objections were shared by many other large companies.The Dutch government has already decided that average pensions accrual must be replaced by degressive accrual, as it was fairer to all generations of participants.However, it is still far from clear how older workers will be compensated, as a number of them stood to be negatively affected by the transition. Estimates of the transition costs vary between €25bn and €100bn, depending on the degree of compensation. Mike Pernot, director of pensions, Philips“We estimate that in our case, compensation would amount to €600m, or 250% of the annual contribution, and we don’t expect that the employer would pay for this,” said Pernot.He added that age discrimination wasn’t an issue at Philips, as employees contributed a maximum of 2% of their pensionable salary to their pension.Indexation chances could be increased by lowering the current funding threshold of 110%, and solidarity between the generations could be improved through an age-dependent indexation favouring younger workers, suggested Pernot.He said that most problems that must be solved by a new pensions system didn’t apply to the Philips Pensioenfonds.In his opinion, it was more important to convince younger workers that there would be still sufficient pension assets when they retire, and to also accommodate foreign employees “who currently can’t transfer their pensions abroad because of the strict Dutch rules”.Increasing contributionsAt the PwC lecture, Bastiaan Starink, tax expert at PwC and Tilburg University, proposed the introduction of a progressive contribution rather than degressive pensions accrual, arguing that this would be much easier and cheaper to introduce.Referring to the cabinet’s rejection of this option, he said he had seen little foundation for the decision.“A large number of companies with DC plans are using a progressive premium, and I’ve never heard that these firms were hiring fewer older workers because they were too expensive,” Starink said.Lilian van Duijnhoven, director at PwC, said that the implementation of degressive pensions accrual could cause problems to IT systems because of its complexity.“Systems have to be able to cope with different accrual percentages which would also change over time,” she said.Van Duijnhoven also warned against a drawn-out transition period, arguing that “desperate diseases required desperate measures”.She argued that saving little towards a pension in the last year ahead of retirement under a degressive accrual method would decrease the incentive for older employees to continue working.Despite the criticism, supervisor De Nederlandsche Bank (DNB) said it remained a supporter of abolishing average pensions accrual.“It is an opaque way of redistribution between the generations that hampers reforms,” said Gisella van Vollenhoven, supervisory director for pension funds.“Another problem is that the average system only works as long as new participants join. However, the influx is decreasing as a consequence of population ageing.”last_img read more

London asset pool appoints permanent CEO

first_imgO’Donnell added: “I am excited to be joining the CIV. Good progress has been made to date and I look forward to contributing to developing the model further and delivering further benefits for London boroughs.”Lord Kerslake praised the work of Hyde-Harrison, who helped enact a governance review of the London CIV after it emerged that several of its founding members were unhappy with the structure of the company.In February last year, a damning report from Willis Towers Watson highlighted distrust between stakeholders, political in-fighting and a lack of staff and resources as hampering the pool’s development. It called for “circuit-breaking change” in order to achieve the cost savings and efficiencies required by the UK government.Lord Kerslake said: “I would also like to put on record my immense gratitude to Mark Hyde-Harrison for all that he has done over the last year to move London CIV forward to a better place, including the new governance framework, a clearer strategic framework and working with the team to deliver some challenging objectives.” The London CIV, the asset pooling company for the UK capital’s 32 public sector pension schemes, has named Mike O’Donnell as its new chief executive, more than a year after his predecessor resigned.O’Donnell is a former executive director for finance at the London Borough of Camden and a former president of the Society of London Treasurers, and has also worked with the London Pensions Fund Authority (LPFA) as a non-executive director.He will take over on 4 March from Mark Hyde-Harrison, who has been London CIV’s chief executive on an interim basis since its founding CEO Hugh Grover resigned in November 2017.London CIV chairman Lord Bob Kerslake said: “Mike is an experienced finance director who understands the needs of London CIV’s client shareholders well.”last_img read more

ESG roundup: MSCI’s new tool assists investors align with UN SDGs

first_img“With the target deadline for achieving the SDGs only a decade away, the standardization of that assessment is critical,” he added.The launch follows MSCI’s collaboration in 2018 with the Organization for Economic Co-operation and Development (OECD) on a joint discussion paper, Institutional Investing for the SDGs, which was intended to spark discussion among stakeholders and market participants.The tool brings together MSCI’s framework covering more than 8,600 equity and fixed income issuers, with analysis of the full range of a company’s operations, products, services, policies and practices, to evaluate its net contribution to addressing the global challenges the UN SDGs aim to tackle.The tool allows for flexible use of its model towards specific impact investing goals or focused on specific alignment dimensions, powered by data inputs from MSCI ESG Research’s core research products.The model provides 17 SDG Net Alignment scores and assessments for each of the UN SDGs on a scale from ‘Strongly Aligned’ to ‘Strongly Misaligned’. The model also offers assessments on two dimensions – product alignment and operation alignment – for each company and for each of the 17 goals.2° Investing Initiative launches PACTA for BanksThe non-profit think tank 2° Investing Initiative (2DII) has launched PACTA for Banks, a free, open-source climate scenario analysis toolkit based on the Paris Agreement Capital Transition Assessment (PACTA) methodology.Developed with the input of leading global banks, universities, and NGOs, PACTA for Banks enables users to measure the alignment of their corporate lending portfolios with climate scenarios across key climate-relevant sectors and technologies.It represents a major step forward in climate scenario analysis for lending, by providing banks with insights into the alignment of their corporate clients’ capital stock and expenditure plans, 2DII said.Thanks to the toolkit, banks can get a granular view of the alignment of their corporate loan books by sector and related technologies, at both the corporate client and portfolio level.Banks can use this information to help steer their lending in line with climate scenarios; to inform their decisions around climate target-setting; and to gain insights into their engagement with clients on their respective climate actions.2DII also noted that the toolkit can also help banks identify their exposure to transition risks associated with a disruptive shift to a low-carbon economy.The think tank developed PACTA for Banks as a free-of-charge public good, in partnership with and funding from a range of stakeholders across the banking, academic, and NGO sectors.Over the course of the last two years, the toolkit has been road-tested by 17 global banks from Europe, North and South America – which include ABN AMRO, Barclays, BBVA, BNP Paribas, Citi, Credit Suisse, KBC, Nordea, Santander, Société Générale, UBS, and many others.The toolkit has also been reviewed by more than a dozen academic institutions and designed with the input of NGOs and industry experts. Contributing institutions include the Center of Economic Research at ETH Zurich and the research network Institut Louis Bachelier.The methodology, data, and software are available here.To read the digital edition of IPE’s latest magazine click here. MSCI has launched a tool to help investors assess their exposure and alignment to the United Nations’ Sustainable Development Goals (UN SDGs).The MSCI SDG Alignment Tool is designed to provide investors with a complete view of a company’s net contribution – both positive and negative – towards addressing each of the 17 UN SDGs.Remy Briand, head of ESG at MSCI, said: “There is increasing demand from investors to channel capital to help deliver on these goals, but the fragmented data around the extent to which a company’s products and operations are aligned to a particular SDG remains an obstacle.”He said through this new tool MSCI will aim to provide an additional layer of transparency for investors to better assess the merits of claims put forth by their portfolio companies.last_img read more

Northern property market set to boom with opening of Westfield Coomera

first_imgNew housing estates along Foxwell Rd in Coomera Waters. Picture: Jerad WilliamsMore from news02:37International architect Desmond Brooks selling luxury beach villa15 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag2 days ago Aerial image of Upper Coomera taken in June, 2017. Coomera Sports Centre. Picture: Glenn Hampson The new-look Pacific Fair Shopping Centre at Broadbeach officially opened in 2016. RiskWise Property Research CEO Doron Peleg said the entire region stretching from Oxenford in the south to Pimpama and Ormeau in the north would reap the benefits.He said there were 3671 houses and 558 units in the pipeline for the next two years and while they carried a certain level of risk in the short term, over the medium and long term the area was likely to experience solid capital growth. SPRING SELLING SEASON IN FULL SWING Property prices in the Gold Coast’s northern corridor are set to boom following the opening of the $470 million Westfield Coomera.PROPERTY prices in the northern corridor are set to boom following the opening of the long-awaited $470 million Westfield Coomera.Real Estate experts are tipping the surrounding suburbs to benefit from the $1.5 billion Coomera Town Centre, which includes the new shopping centre and future plans for community space, commercial offices and entertainment facilities. RiskWise Property Research CEO Doron Peleg says the northern Gold Coast growth corridor is probably the fastest growing in the region. Picture: Jerad Williams“The northern Gold Coast growth corridor is probably the fastest growing in the region,” he said.“Anywhere we see population growth like this, we also see huge demand for dwellings, and this means the projection for strong capital growth is good.”In 2011 there were 8,793 people living in Coomera but by the 2016 Census there were 13,305 – a growth rate of 51.3 per cent.The property market also experienced solid growth, with median house prices increasing 26.5 per cent over five years to $449,000, according to CoreLogic.center_img The $160 million The Kitchens food precinct at Robina Town Centre launched in 2016. Westfield Coomera is set to open in October. Picture: Glenn HampsonREIQ Gold Coast chairman Andrew Henderson predicted property values to increase with more services and infrastructure leading to a heightened demand for housing.“The shopping centre should prove positive for real estate growth,” Mr Henderson said.“Not only do residents get a new shopping centre, they also generally get public transport to go with it.”He said properties close to Robina Town Centre and Pacific Fair experienced “incredible growth” after the refurbishment of both shopping centres in recent years.“It didn’t matter if you were north, west, south or east of the shopping centre, everyone had a desirability to be nearby,” Mr Henderson said. The new Westfield Coomera shopping centre. CLIVE PALMER SETTLES $12 MILLION BEACH HOUSE Jean Cain, who sells property in the northern corridor with Cain & Burdett @realty, said it was an exciting time for the region.“This area is growing with a wide demographic of people, and even our clients from Hope Island have mentioned how they will be supporting this shopping centre, which only bodes well for property prices and further development in the area,” she said.Westfield Coomera, which boasts cinemas, a huge outdoor leisure space and more than 140 retailers, will open for the first time to the public on October 11.Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 0:57Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:57 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD432p432p216p216p180p180pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenAndrew Winter: How to sell in a changing market 00:58last_img read more

These insane dream homes will go under the hammer this Saturday

first_imgThe incredible home at 31 Brisbane St, Bulimba will go to auction at 10am on Saturday.The incredible renovated property at 31 Brisbane St, Bulimba will also go to auction. The shop and home at 2 Stephens St, Annerley, will also go to auction on Saturday.For more than three decades, the shop on the corner at 2 Stephens St, Annerley was the tuckshop for Junction Park State School, and the property has been in the same family for 60 years. The kitchen is galley-style, with a butlers’ pantry to the left.The renovated Queenslander has exposed brick walls, stained glass windows and decorative fretwork.There is no need to head to Wet’n’Wild to catch a dive-in movie, with a remote controlled projector screen able to wind down at the end of the pool. The property was inspired by a Sunshine Coast resort.The renovated resort-style home in on a double block of 1752sq m, and has a full-size tennis court, inground pool and spa, 12m pontoon with jetty and separate cabana-style studio. The kitchen is like a time capsule.Place Paddington agent Jesse Sherring said buyers from “across the spectrum” were interested in the property, looking to use the corner shop front for anything from a juice bar and cafe, to a place to make jam and chutneys and a home design store.Mr Sherring said the house had been renovated in the 1960s and was “a bit of a time capsule”.It will go to auction at noon, on Saturday November 3. The living and kitchen are open plan.The floors inside are a French oak basket weave, and outdoors on the veranda and around the top of the inground magna pool is a French-style feature tile.It will go under the hammer at 11am, Saturday November 3. The house at 62 Keona Rd, McDowall, will go to auction on Saturday.DREAM homes galore will be going under the hammer this weekend.The split-level house at 62 Keona Rd, McDowall, already has seven registered bidders, according to Ray White Ascot’s Alexander Shean. Exposed brick is one of the home’s character features.More from newsParks and wildlife the new lust-haves post coronavirus16 hours agoNoosa’s best beachfront penthouse is about to hit the market16 hours agoWhen the screen is not in use, it retracts and reveals a fireplace in the stone feature wall.The house has five bedrooms, four bathrooms and parking for three cars.It will go to auction at 10am, Saturday November 3. Inside 27 Sutton St, Chelmer.If you are concerned the above properties may burn a hole in your pocket, perhaps this renovator is for you — and remember — two of the above incredible houses began as humble cottages too. The house has an open fire.Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 1:44Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -1:44 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD540p540p288p288p180p180pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenHow to bid at auction for your dream home? 01:45 The property at 62 Keona Rd, McDowall, has a large outdoor area.The agent said they had more than 80 visitors at inspections of the property, which has 557sq m of under roof living and “ticks all the boxes” for buyers. Bi-fold doors allow for a seamless transition from indoors to outdoors.A few of the property’s luxury features include 13m inground pool with spa jets, ducted zoned airconditioning, in-built speakers, ducted vacuum, gatehouse with intercom, and 20,000L of water tanks which are plumbed to toilets, laundry and outdoor hoses.The house will go to auction at 10am, Saturday November 3. A riverfront property at Chelmer will also go to auction at 10am.The luxury riverfront property at 27 Sutton St, Chelmer, will go to auction at 10am, Saturday November 3. The pool has French-style tiles around the top. The floors are French Oak basket weave.It has five bedrooms, and four bathrooms, each with Astrawalker Eco brass tapware.The main bedroom has vaulted ceilings, a walk-through wardrobe and an ensuite. The kids can splash from the pool while you watch from the alfresco dining area.Mr Shean said he expected more to register for the auction of the six bedroom, three bathroom property, which is on a large 1058sq m block.“Keona Rd is known as a premier location in McDowall,” Mr Shean said.“It’s a fairly unique property for the location, with not many in that price bracket in the area.” This two-level Hampton’s honey will go under the hammer at 11am on Saturday.Just like 31 Brisbane St, 45 Hayward St at Paddington started out as a cottage too.Now it has found a new life as a two-level Hampton’s inspired honey.last_img read more

A Paradise Point home with attention to detail

first_imgThis brand new duplex at 23B Teal Avenue in Paradise Point, Queensland boasts some stunning finishes suited to those looking for luxury living.Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 1:44Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -1:44 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD540p540p360p360p270p270pAutoA, selectedAudio Trackdefault, selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenOpen plan living at its finest!01:44The $995,000 duplex was designed by Zephyr and Stone and built by Luxbuilt.Some of the design elements to pay attention to include the 3m kitchen island with a premium Laminam porcelain bench top and well-appointed breakfast bar.The kitchen boasts porcelain bench tops. Picture: realestate.com.au/buuyThere’s also stylish wall panelling throughout the home, which is one of the most striking features as well as custom built-in cabinetry for ample storage.One of the best rooms in the house is the master bedroom and ensuite.The bedroom has wall to wall sheers, stylish pendant lighting and a timber panelled feature wall that acts as a room divider between the bedroom and walk-in wardrobe.The master bedroom is light-filled and features wool carpet and pendant lights. Picture: realestate.com.au/buyThe super luxe ensuite boasts twin showers and vanities, under-floor heating and a Carrara marble splashback.More from newsParks and wildlife the new lust-haves post coronavirus13 hours agoNoosa’s best beachfront penthouse is about to hit the market13 hours agoThe ensuite has twin showers and marble splash back. Picture: realestate.com.au/buyThe new owner will also be able to enjoy the balmy Paradise Point weather across two outdoor entertaining areas that come complete with timber decking, hanging chairs and a low maintenance garden.The median house price in Paradise Point is $1.1 million and the annual growth rate for units is 3.8%.As for the location, the home is just 500m from the cafe and restaurant precinct and the harbour is an equally short distance, which means there’s not much need for a car here.last_img read more