Fly in, fly out property inspection leads to record breaking sale

first_imgThe pool was built above ground to take advantage of the views of the bay.The buyers came across a listing of the home through the Sotheby’s International website in Hong Kong shortly after Queensland Sotheby’s took over the listing.“They flew out, placed an offer and flew back,” said agent for the sale Joseph Lordi. The couple had lived in Wynnum before relocating to Hong Kong, and even remembered the home from when it was being constructed. PRESTIGE HOME SELLS IN TWO DAYS Each of the four bedrooms have views of the water.While previous agents had focused on the local market, Mr Lordi said they marketed it around Australia and the world.“If the location is right or if there is a unique selling point such as the views it can appeal to interstate and international buyers,” he said. The home was on the market for close to a year before it sold.“Selling is a very harrowing experience, especially when you have three contracts fall over,” Mrs Buck said. She believed the current financial climate, including lending restrictions and the royal commission in to the banking sector had made it difficult to sell the property. More from newsParks and wildlife the new lust-haves post coronavirus18 hours agoNoosa’s best beachfront penthouse is about to hit the market18 hours ago“In some cases people were asking for three valuations on the property, which is just unheard of,” she said. They built the home ten years ago with a unique design so that the each of the four bedrooms would have a view of the water. LAURA GEITZ FINDS HER DREAM HOME center_img LUXURY LIVING: Expats flew all the way from Hong Kong just to inspect this property.A LUXURY Wynnum waterfront home was snapped up by an expat couple that flew down from Hong Kong just for the inspection.The distinctive four bedroom home with expansive curved windows and bayside views at 193 Wynnum Esplanade was purchased by the expatriate couple, just after they flew down to Brisbane for the inspection, for $1.655 million.The sale set a new price record for the waterfront street and was also the highest sale price for any home in Wynnum in 2018. It was a big relief for vendors Rosanne and Greg Buck that had been trying to sell the home for 11 months. FUNNIEST OPEN HOME INSPECTIONS last_img read more

Interest in the Brisbane unit market starting to lift again

first_imgInterest in units is on the rise again according to Haesley Cush.A YEAR ago if I was calling auctions for apartments it would be me, the agent and my little yellow gavel.But last Saturday, with the wheel slowly starting to turn on the Brisbane apartment market, I conducted in-room auctions in Spring Hill and the room was packed!The story from the day was not the number of sales nor any record prices achieved. It was simply the number of bidders who turned up and bid. The Brisbane unit market was drowning in new units and it seems we are now starting to tread water as demand starts to slowly walk its way toward supply.What is behind this increase in activity is that it is simply good value.Prices have corrected over the last couple of years as buyers left the market. This caused motivated sellers to adjust their prices to entice the decreasing buying pool to investigate their property and then the race to the bottom followed.More from newsParks and wildlife the new lust-haves post coronavirus17 hours agoNoosa’s best beachfront penthouse is about to hit the market17 hours agoIt seems we have hit that bottom and we have just started to bounce.The apartment market still represents strong value and I am yet to see any evidence of prices moving. One of the sales last weekend was for a two-bedroom, two-bathroom unit in O’Keefe St, Woolloongabba selling for $330,000.It was only a few kilometres from the CBD so it is easy to see why the interest is starting to build.Lending restrictions are still the main concern for this segment of the market.This week Westpac and St George increased their rates slightly, while other institutions have applied new lending criteria to borrowers.These little adjustments will likely temper any growth in the apartment market to a low heat at best.last_img read more

Staggering profit in nine months

first_img Big spenders look to Queensland The home when it was last listed for sale. Pictures: realestate.com.au (First National Real Estate Cleveland)Mr Juresic said the new owner intended to do some work on the property before moving in.The lowset home is on the beachfront at Raby Bay. It is on 748sq m of land. It has five metre high ceilings in the main living room, a lagoon-style swimming pool and Balinese style gazebo.The main bedroom has water views.In the kitchen are Caesar stone bench tops and an American oak island bar. An aerial of the big selling property at 6 Sentinel Court Raby Bay. Supplied NGU Real EstateA BRISBANE man has made a staggering profit on a home he bought just nine months ago — and he didn’t have to do a thing to it.A very keen buyer paid $850,000 more than the owner had paid in January for a waterfront home in Raby Bay that wasn’t on the market.The previous owner, which CoreLogic revealed was businessman Damien Scully, had bought the four-bedroom home at 6 Sentinel Court, Raby Bay, on January 19 for $2.7 million. The now former owner only settled on the property in January this year. Pictures: realestate.com.au (First National Real Estate Cleveland)There is French Oak timber flooring throughout and an atrium with a fishpond.The popular street has racked up a significant number of multimillion-dollar deals in recent years. Just a couple of weeks ago developers Chris and Virginia Anderson sold their property at 8 Sentinel Court for $5.25 million. It has just sold for $3.55 million. Emil Juresic of NGU Real Estate, who negotiated the latest sale said he knew the owner had been keen on something on a larger block of land.Mr Scully was prepared to sell quickly if the right offer came up and if he was able to find a property on a bigger block — which he had, according to Mr Juresic.More from newsParks and wildlife the new lust-haves post coronavirus16 hours agoNoosa’s best beachfront penthouse is about to hit the market16 hours agoThe agent’s colleague Yan Wang introduced the buyer to the home and negotiations started on the deal about five weeks ago. The $3.55 million deal settled Monday afternoon.center_img Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 1:58Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -1:58 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD576p576p360p360p216p216pAutoA, 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 Rate1xFullscreenWhy location is everything in real estate01:59 Pictures of the home taken when it was listed through First National Real Estate in 2017. Picture: realestate.com.au Coal veteran’s luxury homes on the marketlast_img read more

Classic Queenslander a home owner’s dream

first_img28 Hooper St, Belgian Gardens“You absolutely feel like you’re in an authentic Queenslander, even through there is an extension,” he said. “We’ve had a lot of families look through the property, as well as couples looking to create their dream Queenslander.” 28 Hooper St, Belgian Gardens Queenslanders and it’s very rare that I see one that is in such good condition,” he said. More from news01:21Buyer demand explodes in Townsville’s 2019 flood-affected suburbs12 Sep 202001:21‘Giant surge’ in new home sales lifts Townsville property market10 Sep 2020“It’s in a fantastic street with other character homes and it’s very nicely positioned on the block so that it’s off the road to enable privacy. “The lattice work also opens up and you get a good breeze and view.”The house has a practical floorplan with access to the kitchen, bedroom, study and main lounge from the front wrap-around veranda. The rear wing has three of the five bedrooms, as well as a second living area. The house is filled with classic Queenslander features such as tongue-and-groove walls, gunstock french doors, 12ft ceilings, casement windows, polished floorboards, original wooden louvres and liftout lattice work over the veranda. Mr Watson said the house had plenty of space to accommodate a large family. 28 Hooper St, Belgian GardensA GRAND old Queenslander big enough to fit the largest of families is waiting for a new owner to snap up the Belgian Gardens property.28 Hooper St has five bedrooms, one bathroom and two-car accommodation on a 1020 sqm block. It’s been listed for sale for offers over $599,000.North Ward Realty selling agent Tarquinn Watson said the property had been immaculately maintained.“I’ve had a lot to do withcenter_img 28 Hooper St, Belgian Gardens“It’s a really big house with two distinct living areas and there is also an extension,” he said.“Often when you see a Queenslander with an extension it doesn’t match, but this one flows perfectly.“If you wanted a project you could certainly lift the house and everything underneath is already concreted, so you could use it for storage.”The large rear deck is perfect for entertaining and looks out over the backyard, which is low-maintenance.There is also plenty of room for a swimming pool. Mr Watson said the house had kept the charm of the time period it was built.last_img read more

Luxury island home is a boatie’s paradise

first_img ON THE MARKET 7 Brittanic Cres, Sovereign Islands.More from news02:37International architect Desmond Brooks selling luxury beach villa13 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag2 days agoOther features include a study, media room and six-car basement.Agent Edin Kara described the mansion as world class.“Designed with pure luxury in mind this home was crafted in quality and created for the family,” he said.Sovereign Islands is a unique island estate situated in the middle of the Broadwater surrounded by multi million dollar homes.“The estate offers beautiful landscaped parks, 24-hour security and stunning waterways.” 7 Brittanic Cres, Sovereign Islands.WHEN luxury and sophistication go hand-in-hand this is the result.Nestled on 1260sq m2 of land with 37m of water frontage is a five-bedroom five-bathroom mansion at 7 Brittanic Cres, Sovereign Islands. 7 Brittanic Cres, Sovereign Islands.The 20m pontoon is suitable for a 100ft boat or yacht, making the property a boatie’s paradise.The house feature an array of outdoor areas designed to capture the spectacular Broadwater and Hinterland views.Inside there are several lounge, dining and family areas to relax and unwind.There are quality appliances throughout include high ceilings, chandeliers, Miele appliances and granite benches. 7 Brittanic Cres, Sovereign Islands. No expense has been spared in making it one of the signature lavish homes on the island paradise. Address: 7 Brittanic Cres, Sovereign IslandsAgent: Edin Kara and Ali Mian, Ray White Sovereign IslandsArea: 1260sq m Price: Contact agentInspection: By appointmentlast_img read more

New home hot spots revealed

first_imgGeneral photo of Springfield Lagoon, Wednesday, November 14, 2018 (AAP Image/Richard Walker)Together, the five Queensland hot spots recorded more than $1 billion in building approvals, according to the report. But HIA’s chief economist Tim Reardon said Queensland was a state of two stories.“In the north, it is not a good story to tell,” Mr Reardon said. “They have had a difficult time up there, with the exception being Townsville after the floods but that will be short-term in terms of reconstruction.More from newsParks and wildlife the new lust-haves post coronavirus13 hours agoNoosa’s best beachfront penthouse is about to hit the market13 hours ago“In the southeast, there has been a slowdown but there is still a lot going on which is being driven by employment and interstate migration.”Mr Reardon said that concerns about an apartment oversupply in Brisbane had eased, with increasing demand for the next phase of construction.He said the looming federal election had an impact on building approvals, but the credit squeeze by the banks had been the biggest factor.“We have seen signs of that (credit squeeze) easing so we expect to see a pick up in the second half of the year,” he said. Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 1:50Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -1:50 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD540p540p360p360p180p180pAutoA, 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 Rate1xFullscreenDifferences between building in new or established estates01:50FIVE Queensland hot spots have been named among the nation’s top 20 strongest markets for new home construction.Pimpama on the Gold Coast recorded the highest dollar value in Queensland, with $282.4 million in building approvals in 2017/18, according to HIA Population and Residential Building Hotspots report. Other Queensland hot spots named in the top 20 were Ripley, Eagle Farm-Pinkenba, Springfield Lakes and South Brisbane.Both Ripley and Springfield Lakes are both within the Ipswich City Council region, which has seen strong growth in recent years. An aerial view of BrisbaneThe HIA report comes after the release of the Quarterly Market Insights report from Oliver Hume.That report also considered Queensland’s population growth during the December quarter, pointing to increasing levels of interstate and overseas migration.It said that while land sales transactions had “dipped” towards the end of 2018, the market had remained steady. “The number of active projects in all southeast Queensland municipalities was up for theDecember quarter, with various estates launching,” the report said.“Overall, the total represented a five per cent increase on the previous quarter. “This number is likely to decrease next quarter as several developments are reaching maturity.”The median land price in the southeast also increased by three per cent over the year, with Logan recording the most number of active projects in the southeast corner, followed by Ipswich.center_img An aerial view of Ecco Ripley Springfield Lakes, a development by Lendlease, is now sold out, while in Ripley, several developers are active including the likes of Sekisui House (Ecco Ripley), Okeland Communities (Providence South Ripley) and Satterley (Ripley Valley).Victoria dominated the top 20 with 12 of the best performing regions, while NSW had just three hot spots, all in the Sydney region.An area qualifies as a “hotspot” if at least $150 million worth of residential building work was approved during the 2017/18 financial year, and its rate of population growth was faster than the 1.6 per cent national average.Ripley recorded almost $164 million in building approvals, while Springfield Lakes clocked up $214.2 million.last_img read more

Hendra house makes $100,000 in less than four years

first_imgSOLD: Rajeev and Ruth Sinniah (left) sold 57 Harding St, Hendra at auction to Tunde and Wande Olarinde (right) for $885,000. Photo: Debra BelaA HOUSE at Hendra in Brisbane’s north made $100,000 for its owners at auction on Saturday despite the lead bidders starting the engine of their Mercedes C200 during negotiations and preparing to drive away. The house at 57 Harding St, Hendra. Photo: supplied“They didn’t want to take our money,” Dr Tunde Olarinde explained afterwards. Place auctioneer Peter Burgin negotiates with the lead bidders just before they get in their car and prepare to drive away. Photo: Debra BelaThe three-bedroom, pre-war home at 57 Harding Street sold for $885,000 on a street made famous in March when retiring Brisbane Broncos veteran Darius Boyd sold his near new home at 78 Harding St for close to $2 million. MORE PROPERTY STORIES Property savings in a post-COVID world “We compromised on what we anticipated for the house for the certainty of not having this on our shoulders … that it was just going to be sold today,” Dr Sinniah said.“The economic crunch hasn’t hit yet.“We thought we’d do it now because in three-six months the market would change on a downward trend, lending would be a lot more stringent. So it was either now or come back in three to five years and do it then.” The north-facing back deck. Photo: suppliedThe Place Ascot onsite auction, lead by agent Patrick McKinnon, attracted a group of 16 interested parties with three bidders and was held outside so as not to breach the new government guidelines on having no more than 10 visitors inside at an auction or open home.A directive from the Chief Health Officer in the wake of the COVID-19 health emergency now requires all real estate agents to collect the name, address and mobile phone number of anyone attending an open home or auction in Queensland.The information is kept for a period of 28 days and is used for tracing purposes in the event of a coronavirus outbreak.In other auction results, five registered bidders attended 24 Oakwal Tce, Windsor where Ray White Ascot agent Ian Cuneo sold the four-bedroom house to a young couple for $1.175 million.While in Clayfield, 90 Barlow St sold for $930,000 with six registered bidders. The winning bidder was a couple from Brisbane who were currently interstate.“There’s a very high demand for property and a shortage of stock, and the sheer competition between buyers is pushing up the prices, so it really is a great time to think about selling,” Ray White lead agent Alexander Shean said. The auction volume for Saturday was double that of last weekend with 20 properties going under the hammer, including four houses at Hendra.Ruth and Rajeev Sinniah, bought the 406sq m Hendra house for $785,000 in 2016 and considered renovating but instead they found a larger 890sq m property in Clayfield which they moved into over Easter.Dr Tunde Olarinde and his wife Wande had been renting in Hendra for three years while looking for a house to renovate and saw this property a week ago. The main dining area looking into the kitchen and living room at 57 Harding St, Hendra. Photo: supplied.“We wanted to avoid the auction but they didn’t accept our offer, that was the bone of contention,” Mrs Olarinde said.“We put in an offer of $900,000 which was higher that what we’re paying for it now. They should have said yes then.”After an opening phone bid of $810,000, Place chief auctioneer Peter Burgin made a vendor bid of $850,000 before the young couple on the phone also bid $850,000.“We’ll substitute yours for mine,” Mr Burgin said. “Yours is better.” Place chief auctioneer Peter Burgin (centre) opens the auction of 57 Harding St, Hendra. Photo: Debra BelaLeaning on the bonnet of their Mercedes Benz, Dr and Mrs Olarinde bid $860,000 and then the auction paused for more than 20 minutes for negotiations until the Olarindes got into their silver car and started the engine.“I’ve got news,” one Place Ascot agent shouted as he rushed over to the car in a last-ditch effort to keep the couple in play.Within seconds, the engine had stopped, a new bid of $885,000 was recorded and the property sold immediately. Dr Sinniah said the decision to go to auction was based on his analysis of the current economic conditions.More from newsParks and wildlife the new lust-haves post coronavirus9 hours agoNoosa’s best beachfront penthouse is about to hit the market9 hours agolast_img read more

McDermott to Expand Presence in Saudi Arabia

first_imgMcDermott International has signed a memorandum of understanding (MoU) with Saudi Aramco to expand and develop the company’s physical and human capital within Saudi Arabia.The MoU is a part of Aramco’s In-Kingdom Total Value Add (IKTVA) initiative.The company has committed to a nine-initiative plan to increase its contribution to the country’s localization efforts and aid Saudi Aramco in meeting its 2021 objectives. McDermott plans to increase the number of Saudi nationals in its Middle East workforce to 40 percent by 2030.David Dickson, president and chief executive officer of McDermott said: “As part of our global strategy to enhance our capabilities and deepen customer relationships, this MoU strengthens our long-term plans to transition our Middle East operations to Saudi Arabia, which we believe positions us competitively in the regional market.”McDermott’s nine-initiative plan expands the company’s local supply chain, develops full-scale fabrication and marine facilities and moves area operations to Saudi Arabia and provides career training and development opportunities for Saudi nationals.McDermott believes the potential value of the MoU is approximately $2.8 billion and will create up to 2,000 jobs over the next several years.last_img read more

StealthGas Posts Record Revenues, Remains “Cautiously” Optimistic

first_imgStealthGas, a shipping company serving the LPG sector, reported record revenues in the first quarter of 2017, reaching USD 38.1 million, compared to revenues of USD 36.5 million seen in the same period a year earlier. The rise was attributed to increased fleet utilization and a slight increase in market rates.The company’s net income stood at USD 2 million in 1Q 2017, up from a net income of USD 0.6 million posted in the three-month period ended March 31, 2016.“Our performance during the first quarter of 2017 leaves us cautiously optimistic for the future. Our company, taking advantage of our well-chartered position and the significant reduction in idle days, managed to achieve record revenues and high operational utilization, thus improving on profitability margins,” Michael Jolliffe, Board Chairman, commented.“It must be taken into consideration though, that as is customary, the first quarter is driven mostly by seasonal demand with weaker quarters anticipated to follow. Nevertheless, we believe that the low orderbook of our segment and a further stabilization in oil prices have the potential to reinforce improvements in our market fundamentals,” Jolliffe added.On May 22, StealthGas took delivery of Eco Frost, its first 22,000 cmb semi-pressurized/fully-refrigerated LPG vessel, from South Korean Hyundai Mipo shipyard. As disclosed, the newbuilding has been already employed on its first spot voyage.“Our strategy for the periods to follow is to take delivery and integrate in our fleet the remaining 22,000 cbm eco semi ref new vessels, acknowledging that this segment has been facing challenges for quite some time now,” Jolliffe further said.StealthGas currently has a fleet of 50 LPG carriers, three MR product tankers and one Aframax oil tanker.The company expects deliveries of three more LPG carriers in 2017 and 2018. Following these acquisitions, StealthGas’ fleet will comprise 53 owned LPG carriers with a total capacity of 334,386 cbm.last_img read more

Safety audit reveals barrier management flaws on Wintershall’s Brage

first_imgNorway’s Petroleum Safety Authority (PSA) has found several non-conformities following an audit of Wintershall’s management of maintenance and barriers at Brage platform offshore Norway.From 27 to 29 September 2017, we carried out an audit of Wintershall’s management of maintenance and barriers at Brage.The objective of the audit was to assess how Wintershall is ensuring compliance with the authorities’ requirements, recognised standards and its own requirements in the operation and maintenance of Brage.We verified how management of barriers and maintenance is being addressed for Brage and examined in  particular the company’s own follow-up of changes of significance for maintenance management; the company’s efforts to improve maintenance management; the company’s efforts to ensure that important contributors to safety risk/uncertainty are identified, addressed and monitored; andthe company’s completion and implementation of Brage barrier strategies and performance standards.As a result of the audit, three non-conformities were identified in connection with barrier management, passive fire protection, and documentation.Three aspects with potential for improvement were also identified related to Short-term and long-term strategic objectives; performance standards; and action plans for emergency preparedness.Wintershall has been given a deadline of December 17, 2017, to report on how the non-conformities and improvement points will be addressed.The Brage field is Wintershall Norge’s first operated production field. It is located 13 kilometers east of Oseberg in the northern part of the North Sea, 125 kilometers west of Bergen.Wintershall took over operatorship of Brage from Statoil in October 2013. The field was developed using an integrated platform on a steel jacket. The oil from the field is transported by pipeline to Oseberg and from there to the Sture terminal, while gas is transported through Statpipe.last_img read more