Family seals deal after bidding battle at auction

first_imgThe home at 25 Bride St, Wynnum.STRONG bidding ensured the sale of a renovated character home in Wynnum on the weekend. The five-bedroom home at 25 Bride St sold for $915,000 under the hammer. Marketing agent David Lazarus, of Belle Property Manly, said three bidders registered for the auction and two actively vied for the property. “We had an opening bid of $800,000 and strong bidding to $900,000,” he said. “We stopped there and negotiated a little bit more. We put it on the market at $915,000 and that’s where it stayed.”More from newsCrowd expected as mega estate goes under the hammer7 Aug 2020Hard work, resourcefulness and $17k bring old Ipswich home back to life20 Apr 2020The kitchen at 25 Bride St, Wynnum.Mr Lazarus said about 40 groups inspected the home during the marketing campaign and 30 people gathered to watch the property sell on auction day. He said the successful buyers were a local family. “The new owners are upgrading from Wynnum West and the sellers have bought a place on the Esplanade,” he said. “They were all very happy with the result.”Mr Lazarus said the Wynnum property market was bubbling along nicely.“I reckon clearance rates are sitting at about 80 per cent for the year,” he said.last_img read more

IPE Conference: Governments must ‘get real’ on infrastructure investing

first_imgCredit: Paula GarridoDublin’s River Liffey There is a large gap between government rhetoric about investing in infrastructure and the reality of the asset class, according to Amin Rajan, CEO of think-tank CREATE-Research.Speaking in Dublin at IPE’s annual conference this morning, Rajan said governments spoke about big infrastructure projects and public-private partnerships, but were “very quick to [move] the goalposts”.“They virtually rewrite those contracts because they have to respond to public opinion,” he said.According to the sixth annual survey of European pension plans carried out by Rajan’s CREATE-Research and Amundi, infrastructure was the second most favoured asset class for investors after global equities: 58% of respondents said it was most suited to meet their pension plan’s goals over the next three years. The OECD has estimated that annual global infrastructure investment of around $6.3trn (€5.5trn) was needed from 2016 to 2030 to support growth and development, without considering further climate action.Infrastructure investment was “turning out to be a very good opportunity”, said Rajan.However, he suggested governments needed to minimise political risk for institutional investors.According to Rajan, many investors that participated in Amundi and CREATE-Research’s study had said they would accept governments offering guaranteed returns within a band, “because those sort of guarantees would be really worth something”.There was a huge backlog of infrastructure investing that needed to take place that would only be cleared as a result of private-public partnerships, which governments were beginning to realise, said Rajan. Meanwhile, if governments wanted to fund their infrastructure spending by issuing green bonds, they would have to offer higher interest rates than they were currently, he added.“The yield differential between green bonds and traditional sovereign bonds is not that big, but it can be bigger,” he said. “This is going to generate a lot of positive externalities and the governments will really have to increase that rate to attract people to buy those green bonds.”Governments were likely to take that step, but in Rajan’s view, green bonds would take off “later rather than sooner”.‘Safe haven equities’The asset class that European pension plans would most favour over the coming years was global equities, according to the Amundi-CREATE Research survey – 64% of respondents said it would be the most suitable asset class for them over the next three years.Acknowledging that this seemed paradoxical given talk about investors switching to risk-off mode, Rajan said global equity seemed to be acquiring a ‘safe haven’ status.This was partly because many companies covered by that asset class were “cash flow generators,” he said, adding: “They’ve got good brands, they’ve got good pricing power, they also have good dividends and they have large free cash flow.”Investors were becoming very selective in global equities because it was these cash flow generating attributes they were pursuing, said Rajan.Many defined benefit pension plans in Europe are or are becoming cash flow negative.last_img read more

Football’s downfall has been continuous

first_imgThe saying “what doesn’t kill you makes you stronger” is not always the case. The USC football program has shown that. They’ve battled innumerable problems and distractions and have come out much weaker for it.The football program hasn’t been the same since the departure of Pete Carroll and Reggie Bush, and let’s face it, chances are it never will be again. Certainly it could be, but everything since then until today proves otherwise.With each dramatic off- or on-the-field incident or firing that occurs, USC continues to distance itself from the glorified dynasty that once ruled Troy.This year — the year things were supposed to quiet down with a new athletic director and a new head coach — has been just as dramatic, if not more so, than other years in recent memory. Keep in mind we are only four weeks into the regular season, and already there has been a player charged with rape and another player associated with the crime, not to mention the more “practical” drama that includes a quarterback change, a losing record and only scoring one touchdown against two ranked opponents this year — am I forgetting anything here?USC is just a soap opera and it saddens me, not because of the unrealistic expectation that we would come back from sanctions unscathed, but because of the lack of progress and leadership that anyone in a position of power chooses to display.Impatient fans and greedy donors’ insatiable appetite to win has worked against the Trojans and soon the team will be in a place it cannot recover from.In the three years that I have been here, the situation has gotten increasingly and noticeably worse. Two years ago, cornerback Josh Shaw suffered an injury after jumping off a balcony for what he said was an effort to save a drowning child. Shaw actually jumped off the balcony to evade police following an argument he had with his girlfriend. Being the naïve freshman that I was, I assumed that would be the worst thing that happened to the team during my time as a Trojan.Then, when I was a sophomore, then-head coach (and current Alabama assistant) Steve Sarkisian had his run-in with alcohol embarrassing former athletic director Pat Haden to the point that he was fired midway through the season.Helton was supposed to be the coach that calmed everything down and gave the team the blue-collar attitude it needed to stop the uncontrollable fall from grace. The cycle is nowhere close to ending either. Coming out of the sanction years, the expectation that USC would bounce right back was ridiculous and now there hasn’t been enough stability to convince a JV football player that playing at USC would be the right choice. The thing that Lane Kiffin, Sarkisian and now Helton must realize is that nothing short of perfection will ever be satisfactory to USC. Coaches — though I won’t argue that Kiffin and Sarkisian were never the right coach — haven’t been given the chance to stay here long enough to cement themselves as the consistent leaders that this program needs.Helton’s first season is off to a rocky start, but so was Pete Caroll’s. Does that mean that Helton is the coach who is going to turn the program around? I don’t know. No one does. But with a new athletic director behind him, he certainly has the opportunity. Helton needs to resell USC, something no fan ever thought would happen, but instead of consistently having one of the top recruiting classes in the country, now the team struggles to fill a class with 5-star recruits.If I were a top high school prospect, I don’t think I would want to come to USC. There has been too much drama in the past three years alone whereas if you are talented enough to play at a powerhouse school, the amount of drama that USC has in one year would amount to be more than most of those schools see over a player’s four-year career.There is no easy solution for this disenfranchisement, but certainly strong leadership and patience helps, something that has been lacking in the football program for many years.I hate to see the talent and collegiate career of the stars USC has on its team go to waste, but junior cornerback Adoree’ Jackson said it best after the deflating loss to Stanford on Saturday.“At the end of the day, it’s unacceptable,” he said. “I didn’t come from a losing program. I’m not used to losing.”No one at USC is used to losing.The Trojans are still the most recent Pac-12 team to capture a national title, but they haven’t won it in 12 years. As the program and the school are still trying to emulate that success, eyebrows need to be raised. Why is it taking this long and more importantly, why is the team regressing?USC needs to turn its football team around before it is too late.Hailey Tucker is a junior majoring in broadcast and digital journalism. She is also the sports editor of the Daily Trojan. Her column, “Tucker Talks,” runs Thursdays.last_img read more