Popular renovator lands over $500K amid high demand by downsizers

first_img12 Alicia St Nundah. Picture: SuppliedA THREE bedroom renovator in Brisbane’s middle ring was so popular two buyers were waiting in the wings in case the deal fell over.Real estate agent Julie Cameron of @Realty said the home at 12 Alicia Street, Nundah, sold for $570,000, with the area in high demand amid rapid gentrification and popularity with downsizers. 12 Alicia Street, Nundah sold for $570,000.Her most recent Nundah sale at 12 Alicia Street was a three bedroom, one bathroom, three car space home, which was in a quiet cul-de-sac.The brick post war home was on a level 607sqm block with 15.8m frontage and 40.1m length, and zoned low medium residential density. 12 Alicia St Nundah.“It was a good result because it’s a renovator but it’s in a good suburb and 607sq m,” she said. “It’s got quite a lot of potential for development. The buyer plans to fully renovate it, extend and move in.”Ms Cameron said they had five offers hovering around the mid $500,000s, two of whom were “waiting for it to fall over”.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 12 Alicia Street, Nundah.“In Nundah you have the older folks moving out and younger ones moving in. It’s part of a trend, a little bit like Hendra was years ago. Hendra was always the poorer suburb, with older character homes, a little bit of snobbishness against it from Ascot and the like, and now they’re achieving over $1M. That’s gone through the roof.“I can see Banyo, Nudgee, Virginia and the like starting. I get $400,000 for a 400sq m block in those areas now – that was unheard of two or three years ago. It all boils down to supply and demand.” 12 Alicia Street, Nundah.“We had a tenant in there who didn’t want to move out because they loved it.”The buyer agreed to wait 60 days for the tenants to move out with the deal settling last week.Ms Cameron said she was seeing a rush of buyers looking for properties in the Nundah area.last_img read more

This is your chance to live like royalty in a grand country manor — in Queensland

first_imgThis property known as ‘Abbey of the Roses’ in Warwick is going to auction.THINK you know what it’s like to live like royalty?Forget lap pools, media rooms and hi-tech sound systems.Today’s modern luxuries have got nothing on the stately grandness of this Victorian gothic sandstone masterpiece, which is about as close as you can get to something out of the television series, Downton Abbey.GET THE LATEST REAL ESTATE NEWS DIRECT TO YOUR INBOX HEREOne of the dining rooms inside ‘Abbey of the Roses’ in Warwick, which is for sale.And, believe it or not, it’s in country Queensland.This regal manor house, complete with 50 rooms on 10,000 sqm stands proudly in the town of Warwick, southwest of Brisbane, despite being more at home in Europe or the UK.QUALITY BEACH HOME UP FOR GRABSOne of the function rooms inside ‘Abbey of the Roses’. Pic supplied by Ray White.Now is your chance to live as if you were ‘to the manor born’, with the former Sisters of Mercy convent, now known as ‘Abbey of the Roses’, going to auction later this month.Built in 1891, this heritage-listed building at 8 Locke St is one of more than 100 properties going under the hammer at Ray White’s major auction event of the year on the Gold Coast on January 28.LAP UP LAKESIDE LUXURYOne of the bedrooms inside ‘Abbey of the Roses’ in Warwick, which is for sale.Ray White marketing agent Josh Thomas said the property was primarily a private residence, but had most recently been used as a guesthouse and wedding venue.Mr Thomas said he had received a lot of interstate inquiries and had never marketed a property like it before.More from newsParks and wildlife the new lust-haves post coronavirus22 hours agoNoosa’s best beachfront penthouse is about to hit the market22 hours ago“This is something that doesn’t become available in Queensland that often — if ever,” he said.“It’s something I think that’s more common in Europe.”HOME BUYERS SKIP CRUCIAL CHECKSOne of the bathrooms inside ‘Abbey of the Roses’ in Warwick, which is for sale.Owners Sonia Hunt and Mark Cains fell in love with the property when they first saw it online.Mrs Hunt said she thought it was in England at first before noticing the sale price was in Australian dollars.It has been the couple’s home for the past eight years, but they want to sell to move closer to family.“It’s really surreal. You don’t feel like you own it because it’s not like a normal home,” Mrs Hunt said.“We could sleep in a different bed every night and feel like we’re on holiday for over a week.”One of the bedrooms inside ‘Abbey of the Roses’ in Warwick, which is going to auction.Gradually restoring the property to its former glory has been a labour of love for Mrs Hunt.“Fixing her up and feeling the love come back out of her — you just have this proud feeling you can’t put into words,” she said.The stained glass windows in the property at 8 Locke St, Warwick. Picture: Michele Helmrich.Records show the property last sold for $1.525 million in 2010.Spanning three levels, it includes a chapel, a grand dining room and function rooms, 14 bedrooms and 12 bathrooms.The chapel inside ‘Abbey of the Roses’ in Warwick, which is for sale.Designed by the same architect as the Breakfast Creek Hotel, the property also boasts stained glass from the same German company that made the glass windows of the Vatican and features a statue by the designer of the Statue of Liberty.The intricate timberwork inside the property at 8 Locke St, Warwick. Sonia Hunt and Mark Cains are selling their guesthouse and wedding venue, Abbey of the Roses, in Warwick.last_img read more

UK pensions regulator opens major DB funding consultation

first_imgDavid Fairs, TPR executive director for regulatory policyNoting the length of the consultation document, he added: “Funding of DB pensions is extremely complicated and therefore some of the trade-offs you have to think about are incredibly complex.“We’ve tried to set out the thinking and challenges in arriving at what a suitable compromise would be.”Twin tracks, key principlesAs previously indicated, TPR is proposing a twin-track compliance approach to valuations.If trustees can demonstrate their valuation meets certain quantitative compliance guidelines they will be able to choose a “fast-track” approach and expect minimum regulatory involvement on DB funding.Alternatively, there is a “bespoke” valuation approach, relevant for trustees who either choose not to or cannot comply with fast-track guidelines.This track offers greater flexibility, but requires trustees to submit more supporting evidence on their approach, including how they propose to manage any additional risk. This may also involve greater regulatory scrutiny.TPR has been at pains to stress that bespoke and fast track approaches, if done correctly, are equally compliant with the legislation and that bespoke arrangements should not be seen as bad or a second-best option.One example given for why a scheme might opt for the bespoke track was if the employer was very constrained and the scheme, therefore, needed a longer recovery plan.Key principlesAccording to TPR, most schemes are closed to new members and/or future accruals and can be expected to be “significantly mature” in 15 to 20 years’ time, with the majority of their members retired.Fairs said: “These schemes will be more vulnerable to risks associated with poor funding levels and shorter investment horizons.”A key principle being set out by TPR is that trustees should identify a scheme-specific long-term objective (LTO) so that by the time the scheme is significantly mature it is fully funded with a low dependency on the employer and invested with high resilience to risk.For a fast-track approach, the regulatory is proposing that the low dependency funding basis be with a discount rate somewhere in the range of Gilts plus 50bp to Gilts plus 25bp.TPR has also proposed key principles in relation to investments, such as that the asset allocation at significant maturity should have high resilience to risk, a high level of liquidity, and a high average credit quality.In terms of recovery plans, TPR’s proposed principle is that these should remain based on affordability, but, as for other parameters for the fast track approach, it is consulting on options for standardised guidelines for recovery plan lengths.Mouna Turnbull, policy lead at TPR, told journalists it was “too early to talk about a significant shortening of recovery plans”.TPR is also consulting on the extent to which the employer covenant should remain a key aspect of scheme funding, including how it should be assessed and for how long reliance can be placed on it, and on alternative support and the reliance that can be placed on it.What impact?In the consultation document TPR said it did not expect its proposals to be “too onerous for most schemes” but that there could be significant impacts for some schemes, in particular those that have been running excessive and unjustifiable levels of risk.With regard to open schemes, it said its view was that the accrual of new benefits should not compromise the security of accrued benefits, but that this did not mean it was advocating the closure of open schemes.The consultation closes on 2 June. The UK’s pensions regulator has today launched the first part of a keenly awaited major consultation on its revised code of practice for defined benefit (DB) funding, which aims to set out more clearly what is expected from trustees and employers.Spanning nearly 180 pages and posing 58 questions, the consultation document sets out The Pensions Regulator’s (TPR’s) thinking about the overarching principles that should underpin all scheme valuations and proposals for how these principles could be applied in practice.A second consultation, planned for later this year, will focus on the draft funding code itself and what the final guidelines might look like. This will take into account industry feedback to the first consultation, the regulator’s impact assessment, and any changes to legislation and regulations.It is expected that the revised code will come into force at the end of 2021. Overall, the TPR is consulting on a new funding regime to address concerns highlighted in a 2018 government white paper on DB pension schemes and to implement new measures introduced in the Pensions Schemes Bill, which was laid in parliament in January and introduces new requirements for sponsors and trustees to agree long term funding and investment strategies.David Fairs, executive director of regulatory policy at TPR, said: “The launch of the our consultation on a clearer framework for DB funding is a significant moment for DB schemes.”Speaking to journalists yesterday, he said that at the heart of the consultation lay “a really simple concept: what is the balance between security of members’ benefits and affordability?”.last_img read more

Curts wins, EHS boys are third at Manchester

first_imgMANCHESTER, N.H. — Ellsworth senior Dan Curts took top honors in a field of 229 runners and the Eagle boys placed third among 30 teams in the small schools five-kilometer race in Saturday’s 38th annual Manchester Invitational at Derryfield Park.Curts completed the 5K course in 15 minutes and 23 seconds, edging runner-up Jose Holt-Andrews of Telstar by four seconds.Senior Brayden Beardsley was the second runner in for the Eagles, placing 15th in 16:59.He was followed by senior Robert Looker, 22nd in 17:11; senior Frank King, 29th in 17:30; sophomore Cooper Holmes, 58th in 18:14; sophomore Conrad Svec, 116th in 19:23; and sophomore Talor Hamilton, 185th in 21:07.This is placeholder textThis is placeholder textThe Eagles were solidly in third place with 111 points, finishing behind champion East Greenwich, Conn., with 54 points and runner-up Harwood High School of Moretown, Vt., with 66 points.In the girls’ small schools competition, Ellsworth senior Aleta Looker was third overall in the field of 194 runners with a time of 18:23.She trailed only winner Kirsti Sandreuter of Greely, who finished in 18:59, and runner-up Carmen Bango of Woodstock, Vt., who finished in 19:13.Behind Looker for Ellsworth were junior Hayley Lawrence, 52nd in 22:05; junior Mariah Brown, 73rd in 22:51; junior Olivia Lounder, 136th in 25:16; sophomore Julia Zavaleta, 145th in 25:49; junior Allie McKowen, 188th in 31:17; and sophomore Katie Walton, 190th in 32:21.The Eagle girls finished 12th among 29 teams with 370 points.Find in-depth coverage of local news in The Ellsworth American. Subscribe digitally or in print. GSA surges in 4th to win Northern Maine title – February 26, 2017 Latest posts by Hugh Bowden (see all) Latest Posts Hugh BowdenExecutive EditorHugh writes editorials, covers Hancock County sports and helps out where needed in The American’s editorial department. When he’s not on the sidelines, he enjoys playing jazz and tennis. hbowden@ellsworthamerican.comcenter_img Like he did in the ’60s, Noel Paul Stookey sings out in troubling times – December 27, 2017 Bio Is this the kind of government we deserve? – July 10, 2017last_img read more