Would you buy a display home as an investment?

first_imgOpulence is evident in the kitchen.It’s one of 31 homes from 10 builders that are on show in the $500 million Helensvale community.The five-bedroom, three-bathroom Black Label design ‘The Desert’ is described as being able to ‘comfortably fit among palatial Palm Springs properties or high in the Hollywood Hills’.Inside, an atrium invites the outside in while the decor is a combination of Californian charm and the latest in integrated technologies. Modern decor features throughout. The bedroom in the master wing. An atrium fills the interior with light.More from news02:37International architect Desmond Brooks selling luxury beach villa19 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag2 days ago The designer make-up station at the residence.The property also features a rear terrace and courtyard, grassed roof and separate wings, including the master wing that includes a spacious bedroom, make-up station, dressing room and ensuite with steam room. 16 Clover Way, Helensvale is on the market for $1.69 million.ONE of the first houses in the Gold Coast’s biggest display home village has hit the market.The Aston Milan display home in The Surrounds — Villawood Properties is listed for $1.69 million. A render of The Surrounds estate in Helensvale. The first phase is due for completion in 2019.According to the property listing, as part of the sale Aston Milan will lease the property off the buyer from settlement until November 2019 with a guarantee return of five per cent of the sale price.More than 195 of 620 lots in the village have been sold, with the first phase of the development due for completion in 2019.last_img read more

£42bn LGPS asset pool readies double global equity launch

first_imgA spokeswoman for Essex said the transfers were set to take place “within the next six weeks”.The scheme’s most recent annual report showed Essex had £471.4m invested in M&G’s Global Dividend fund at the end of March 2018, and £502.8m with Longview, although the latter had subsequently been reduced as part of a rebalancing of the portfolio. The exact amounts to be transferred would be confirmed shortly before the move, the spokeswoman said.In addition, Longview had a £236m mandate with the East Sussex Pension Fund as of 31 March, while M&G ran £315m for the Kent Pension Fund in its global dividend strategy.A spokeswoman for East Sussex told IPE its pension committee had agreed to transfer the Longview mandate to ACCESS. A spokesman for Kent said its M&G mandate would transfer to ACCESS in February.The new ACCESS sub-funds follow the launch late last year of a £1.6bn “long term global growth” investment fund, run by Baillie Gifford. Essex also supported this launch, transferring more than £600m.The ACCESS pool aims to combine the assets of the LGPS funds for Essex, Kent, East Sussex, West Sussex, Hertfordshire, Hampshire, Cambridgeshire, Norfolk, Suffolk, Northamptonshire and the Isle of Wight.The pool is hosted by Link Fund Solutions, which provides the infrastructure, while Russell Investments is in charge of manager selection. A £42bn (€46.7bn) consortium of UK local authority pension funds has appointed M&G and Longview to run global equities mandates, IPE has learned.The managers were appointed by ACCESS, one of eight asset pools set up to pool the assets of UK Local Government Pension Schemes (LGPS).M&G is to manage a global dividend fund, while Longview will run a global equities portfolio, with the LGPS funds for Essex, Kent and East Sussex county councils all set to transfer existing mandates in the coming weeks.The Essex Pension Fund has agreed to transfer nearly £1bn of its assets to the two mandates, according to council documents. Both Longview and M&G were responsible for roughly 7% of Essex’s total £6.5bn investment portfolio each, the documents showed.last_img read more

PNG LNG boosts Oil Search revenue

first_imgPNG LNG (Image courtesy of Oil Search)Papua New Guinea-focused Oil Search reported a 12.6 percent rise in its fourth-quarter revenue, boosted by strong PNG LNG production and higher oil and gas prices.Revenue for the fourth-quarter rose to $389 million from $345.6 million in the year-ago quarter. As compared to the quarter before, revenue rose 2 percent.Commenting on the fourth quarter results, Oil Search managing director, Peter Botten, said that the fourth quarter production reached 7.59 mmboe taking the full year production to 30.31 mmboe, hitting the higher end of the company’s guidance range and a company record.The realized oil and condensate price in the fourth quarter was $63.05 per barrel, up 20 percent on the third quarter, reflecting the strength in global oil prices, and contributing to the fourth quarter revenue.He added that the company aims to further optimize production rates with the modifications to the Hides gas conditioning plant. The contribution to the production figures is expected in the second half of the year.Oil Search full-year production for the year 2018 is expected to be in the range of 28.5-30.5 mmboe with lower operated production expected to be offset by higher production from the PNG LNG project.last_img read more