50 Monterey Keys Drive, Helensvale.“It’s been well looked after,” Mr Fletcher said.More from news02:37International architect Desmond Brooks selling luxury beach villa12 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag2 days agoIt was designed to make the most of its north-facing position.“What we really like is that from all the main rooms, it takes in the views from the canal,” Mr Fletcher said.MORE NEWS: Where the Coast’s interstate buyers are coming from 50 Monterey Keys Drive, Helensvale. 50 Monterey Keys Drive, Helensvale.IT has been 25 years since this waterfront property was last on the market and it looks completely different now to what it did then.Owners Bob and Margaret Fletcher bought it as a vacant block in 1993 and built the house that is there today a year later.With only a few minor changes over the years, the four-bedroom house has stood the test of time. 50 Monterey Keys Drive, Helensvale. The house has an open kitchen and family room as well as a formal lounge and dining area, both of which open onto an alfresco area with pool.This overlooks manicured gardens and the canal. MORE NEWS: Secret sale changes family’s life 50 Monterey Keys Drive, Helensvale.The outdoor area was one of Mr and Mrs Fletcher’s favourite parts of their home.“We like to sit outside in the afternoon and have a quiet drink looking over the water,” Mr Fletcher said.The couple said a lot had changed in Helensvale since they moved into the property.“It’s a good spot and everything is very close,” Mr Fletcher said.“One of the things that we do like about this area now is that there’s so many choices in shopping centres.“We’ll both be really sorry to leave.”
The modern kitchen now features a butler’s pantry. Picture: Supplied.“We redid the laundry, we renovated the walk-in wardrobe and we put in a butler’s pantry, which is my pride and joy,” Mrs Mifsud said. More from newsLand grab sees 12 Sandstone Lakes homesites sell in a week21 Jun 2020Tropical haven walking distance from the surf9 Oct 2019“We also did a few other minor things like polish the floorboards.” Set across two-levels, the home has a lounge room on the ground floor, along with three bedrooms with built-in wardrobes, a bathroom and a laundry. The living area opens to the front deck. Picture: Supplied.“Sitting on the balcony and getting those nice cool breezes on a warm day is so nice,” she said. “I also love being able to walk around the corner for a coffee by the water. It’s a really friendly here, and nice and close to everything.” Mrs Mifsud said the property would suit all types of buyers and, with some work downstairs, it could even work as a dual occupancy home. One of the three decks at 71 Mein Street, Scarborough. Picture: Supplied.STROLL to the local cafes for a coffee or wander down to the beach from this renovated Queenslander in Scarborough. The two-storey property with pool at 71 Mein St has been recently freshened up and is back on the market. Owners Jennifer and Robin Mifsud bought the home two years ago for its location and charm.“It has a nice feel and a bit of character about it,” Mrs Mifsud said. Since purchasing, the couple have added their own touch to the home. The rear deck overlooks the inground swimming pool. Picture: Supplied.There are front and back decks on this level, with the rear one overlooking the inground swimming pool and backyard. Internal stairs lead up to the open-plan living, dining and kitchen area, which flows out to a covered deck. The main bedroom has a walk-in wardrobe and there is a second bathroom on this level. Mrs Mifsud said her favourite part of the home, apart from her cherished butler’s pantry, was the upstairs balcony.
For those looking for apartments, inner-city suburbs such as Kangaroo Point, Toowong and Taringa ruled, with Brisbane City coming out top.Industry experts say a dip in house prices coupled with rock-bottom interest rates, the government’s 5 per cent deposit scheme and reduced competition from investors had put those looking to enter the market for the first time in a strong buying position.Nerida Conisbee, the chief economist at REA, said that in a market where most buyers had dropped off it was surprising that first-time buyers remained active. You get more bang for your buck in Griffin, the top suburb for first-homebuyers seeking a house. This house at 1060 Dohles Rocks Road is on a flat 607m2 waterfront block with a 12m x 7m shed.“These buyers don’t like a fast-moving market. They tend to back off property in these climates because they are cautious.” she said.She said the government’s First Home Loan Deposit Scheme was helping to keep this group active. The scheme, which kicked off in January, enables first-time buyers to purchase a home with just a 5 per cent deposit, which is backed by the National Housing Finance and Investment Corporation. So far 10,000 places have been made available, with a further 10,000 to be released in July. Graham Cooke, insights manager at Finder, a comparison website, said that the downturn in the market could present a window for cashed-up Aussies ready to buy.“ Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 2:16Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -2:16 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels540p540p360p360p270p270pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. 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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 Rate1xFullscreenCameron Kusher’s update on COVID-19 and the market02:16 First-time buyers Rachel and Cory Wittleton with their pup Oslo. Photo: Tertius PickardFirst-time buyers are the best placed to take advantage of the property market downturn caused by COVID-19, according to industry experts.Queenslanders are taking up the challenge, with coronavirus failing to deter them from their house hunt. Figures from the property website Realestate.com.au show that first-time buyer inquiries were up 23 per cent across the state between January and March, the height of the pandemic, compared with the same period last year. Over the past 12 months to March Queensland and the ACT were the only states to register rises in the double digits, with 138 Bennetts Road, Norman Park, attracted 38 viewings over the Easter weeked, 36 of which were by first-home buyersQueensland recording a 12 per cent surge and the ACT 56 per cent.The research also revealed the top Brisbane suburbs where first-time buyers were looking for a home. Newer suburbs such as Forest Lake, Springfield Lakes and North Lakes were high up in the mix for houses, among more established areas such as Kedron, Shailer Park and Oxley. 1. Griffin2. Forest Lake3. Shailer Park4. Springfield Lakes5. Oxley6. North Lakes7. Rochedale South8. Bracken Ridge9. Kallangur10. Kedron Anger over QLD plan to pass laws to make landlords foot the bill HOUSES If you’re one of the first-time buyers who missed out on the 2019 price dip, 2020 could provide a second bite at the apple.” Ms Conisbee agreed: “Given that prices at the moment will probably be below the norm, first-time buyers have the potential to make gains once the market picks up again.“There are some competitive deals around, and with new developments buyers may pick up some added extras that they may not have ordinarily received,” she said.Another reason why first-time buyers may find the current market favourable is a drop off in investors looking for properties. 20310/15 Beesley St, West End, in Brisbane City is on the market and will go to auction on May 1 through Ray White Brisbane“Investors are out of the market at the moment, so it’s a good time for first-time buyers to be in it; there’s less competition,” Ms Conisbee said.The Reserve Bank of Australia last week cemented in further certainty for borrowers by keeping the interest rate on hold at a historic low of 0.25 per cent.According to Caroline Jean-Baptiste, the owner of Mortgage Choice, most first-time buyers have spent up to the past five years saving and if they have a secure income they were in a comfortable position to step into the market at the moment.In fact, she said a lot of first-steppers would be looking for a good deal as properties from distressed sellers hit the market. Realestate.com.au chief economist Nerida Conisbee believes now is a good time for first-time homebuyers to get on to the property ladder.“People have learnt from other crises we have been through, where we have seen that severe drop-off and then consistent recovery. I would say some first-home buyers can see this is going to happen over the next few months and if they don’t get in now, the may find themselves having to wait again. They’re hoping to catch the bottom of the market.”She said when the time was right it would be first-home buyers who benefitted the most.“There will be more stock coming on to the market, which means more choice and more power to negotiate. First-time buyers will be the ones with the power.” Cory and Rachel Wittleton, who live in a rented apartment in South Brisbane, are looking for their first home after spending the past 12 months saving for a deposit. While their dream house would be a “Queenslander in New Farm”, the couple are realistic about where they can afford to buy. Springfield Lakes is a top area for first-time buyer. Pick up this three-bedroom cottage-style character home for $349,000 through La Vie Property Solutions.“New Farm would be ideal,” Mr Whittleton laughed, “but we don’t have those kinds of funds, so realistically something around Norman Park, Wilston or Paddington is affordable for us.“As long as it’s somewhere within 5km to 10km of the city.“We did put an offer in on a place, but it fell over. It turned out it had some issues, but there are others. There seems to be quite a lot of activity going on.”The couple say coronavirus has not deterred them in any way from their search.“We might be able to get a good deal,” Mr Wittleton said. “We had previously looked at buying a townhouse in a development, but buying off plan wasn’t ideal for us so we let that idea go,” he said.One of the properties the couple viewed over the Easter weekend was in Brisbane’s Norman Park. The property at 138 Bennetts Road attracted 38 inspections, 36 of which were with first-time buyers. 3-40 MacDonnell St, Toowoong, on sale through Dixon for offers of more than $449,000, has been popular with first-time buyers because of its proximity to the CBD and the fact you can walk to everything.The agent Stuart McCrae of Place Coorparoo said that from what he experienced over the weekend, COVID-19 was in no way having an impact on this sector of the market.“The fundamentals of real estate are so strong and the interest rates are so low, that for a lot of first-home buyers the mortgage repayments are equal, if not lower than, their current rent, so regarding COVID-19 that has had no impact.” Mr McCrae said that, aside from the surprise entrant of Ascot, where the average property price is more than $1 million, the top ten list of suburbs where first-time buyers were seeking apartments were good choices, along with places such as Carina.“These suburbs are where first-home buyers can get more bang for their buck,” he said,“so it makes sense that they would buy in these sister suburbs that back on to or neighbour Brisbane’s more sought-after areas.”More from newsParks and wildlife the new lust-haves post coronavirus9 hours agoNoosa’s best beachfront penthouse is about to hit the market9 hours agoWhen it comes to houses, Manish Bedi of Smartline mortgage advisors, which covers the suburbs of Bracken Ridge and Springfield Lakes, said these areas, where there were a lot of new developments, were always a draw for first-time buyers, especially with young families, because the blocks were large and offered value for money.Mr McCrae said most of the areas were in the next ring outside the Brisbane circle, with the attraction being the average house price, which sits in the $500,000s, making them more affordable for those trying to get on to the ladder.TOP FIRST-TIME BUYER SUBURBS Five reasons why first-home buyers should buy right now RELATED NEWS House values could fall after record drop in confidence 1. Brisbane City2. Annerley3. Taringa4. Toowong5. Coorparoo6. Kangaroo Point7. Mount Gravatt East8. Nundah9. South Brisbane10. Ascot Source: Realestate.com.au APARTMENTS
Inside the granny flat by Arkspace Architects.Far from the afterthought lean-to of times gone by, today’s granny flats are compact, sustainable and self-contained. The designs are an urban interpretation of a modern apartment, with the same elegant architecture, clever storage solutions and level of high-end finishes. Ms Song said the mini-home in Chelmer packed plenty of design detail, from the bold contrast of charcoal cladding and crisp white French doors of the formal entry, to the frameless double-hung windows and architecturally designed aluminium hoods.“We’re able to design and deliver a turnkey granny flat that is small in stature yet punches well above its weight in architectural detail and finishes,” she said.Ms Song said thoughtful architecture ensured the dwelling complemented Brisbane’s varying lot sizes. “The granny flat was constructed on a 607sq m lot adjacent to the main residence,” she said.“It has a main bedroom with built-in wardrobes, a study nook, bathroom, dining area and separate lounge area, which can be converted into a second bedroom. A custom-designed, combined kitchen and laundry provides generous storage.”Mr Walker said not only did architectural designs add value to a property but it made better use of a site’s footprint.Another plus is that many granny flats are designed to be mobile, so you can always take it, and your granny, with you if you move.More from newsParks and wildlife the new lust-haves post coronavirus9 hours agoNoosa’s best beachfront penthouse is about to hit the market9 hours agoIn Brisbane granny flats do not require council approval if they meet accepted development requirements and criteria. In the present climate of COVID-19, they also offer a solution for families who want to stay together while self-isolating.Grace Song, the director of Arkspace Architects, said that granny flats provided families with flexible living arrangements to best meet their needs.“While they are intended for the social and sustainable benefits of keeping families together, in these uncertain times granny flats can also play a role in creating safe spaces for physical distancing and self isolation for vulnerable family members,” she said.“In this way families can still support each other and stay together, yet be apart.”Mr Walker said: “Granny flats are a great solution because they provide a level of independence and freedom that works for everyone,” “These mini homes are showing strong appeal from Brisbane’s inner city to the outer fringes.” They also have the benefit of adding value to your overall home, according to Ms Song. WHY THE TIME IS RIGHT FOR FIRST-HOME BUYERS Arkspace Architects have completed their new granny flat prototype design in Chelmer. The granny flat created by Arkspace Architects.For example, a 42sq m granny flat she designed for a property in Chelmer, inner Brisbane, delivered an almost 25 per cent increase in the property’s overall value. She said valuations taken before and after the installation of the granny flat showed a rise from $640,000 to in excess of $800,000.Ms Song said she was to increase the value of the property by almost a quarter in just eight weeks, more than covering the cost of the build.Arkspace granny flats start from $150,000 and prices are based on size, finishes and site constraints. Mark Herrington with his partner Grace Song, her mother Joosook Lee, and their children Elias 10, Sebastian 8, and Luis 5 outside the granny flat Grace designed. Photo: Jamie HansonSelf-contained granny flats are popping up all over Brisbane as a way to extend and add value to the family home – and they’re perfect for social distancing too. Lifestyle and demographic changes are leading to a rise in the number of granny flats popping up in Brisbane backyards.Lachlan Walker, the director of Place Projects, said their rising popularity was down to a shift in the way families are having to live, with children staying at home longer and people wanting to make caring for older family members easier. MORE QLD REAL ESTATE NEWS: In Brisbane a granny flat does not require council approval if it is a maximum of 80sq m, is for a member of your household, and meets the accepted development requirements. You may require approval if you live in a character area or there are hazard constraints. One carparking space cant be provided on the site for the granny flat plus one car park space for the main dwelling house.It is recommended you engage a building certifier or town planner to confirm that you do not need council approval.A certifier must approve any building work before you start construction to check that what is proposed complies with the Building Act 1975 and associated standards. Source: Brisbane City Council WHAT YOU NEED TO KNOW – Affordable– Adaptable (multi-generational home)– Adds value to your property– Faster build time– Less disruptive than a renovation Source: Arkspace Architects director Grace Song WHERE I LIVE WITH CLIVE BERGHOFER AM FIVE THINGS TO LOVE ABOUT GRANNY FLATS
Oil and gas company Faroe Petroleum has seen “outstanding flow rates and reservoir quality” in the Brasse appraisal well in the Norwegian North Sea as it gears up for a side-track well. The 31/7-2 S well was drilled from the Deepsea Bergen semi-submersible drilling rig.According to Faroe’s Monday update, the Brasse appraisal well Drill Stem Test (DST) has been completed providing clear evidence of a highly prolific reservoir and excellent quality sands with multi-Darcy permeability at this location.An extensive data acquisition program was carried out in the well, including the cutting of cores together with a full suite of wireline logs, fluid samples and a DST, the company said.The well flowed at a constrained maximum stable rate of 6,187 bpd of oil from a 3.6 meters perforated interval, through a 1” choke and with 800 psia at the wellhead. Flow and pressure measurements indicate a prolific reservoir.The site sampling of the fluid produced during the DST confirms good quality light crude similar to the nearby Brage field (Faroe 14.3%), with the presence of 36.2° API oil with a gas/oil ratio of 887 scf/stb, to be confirmed by onshore laboratory testing. The company added that trace element analysis revealed no undesirable components and the oil flowed sand and water free for the duration of the test.The Brasse appraisal program will continue now with the drilling of a side-track well, targeting a location approximately 1,000 meters west of the current main well bore. The objective of the side-track is to map the reservoir distribution and further delinate the Brasse structure.The Brasse field discovery was made by Faroe in 2016 and is located within tie-back distance to existing infrastructure: 13 kilometres to the south of the Brage field platform, in which the company holds a 14.3% working interest and 13 kilometers to the south east of the Oseberg Field Center.Faroe operator is the operator at Brasse with 50% interest, while the other 50% is held by Point Resources.Graham Stewart, Chief Executive of Faroe Petroleum commented: “We are very pleased to announce the results of this successful, Faroe-operated, drill stem test on the Brasse field, which significantly de-risks further upside in this reservoir and the license area as a whole.“The outstanding flow rates and reservoir quality confirmed by this well, located at the periphery of the Brasse field, are very good news and provide valuable information for our planning of the Brasse development project. We now look forward to the results of the imminent side-track with the objective of proving up further potential on this license.”
Cooper Energy has declared a final investment decision (FID) for the Sole gas project following the announcement of a fully underwritten finance package to complete funding for the project and to fund other opportunities and commitments in the company’s portfolio.The project will develop the Sole gas field located in VIC/ L32 in the Gippsland Basin offshore Victoria to supply 25 PJ per year to gas users in south-east Australia. Cooper Energy is the 100% interest holder in the Sole gas field.According to Cooper’s statement on Tuesday, the finance package includes a A$250 million senior secured bank debt facility fully underwritten by Australia and New Zealand Banking Group (ANZ) and Natixis, Hong Kong Branch, (Natixis) a senior secured A$15 million working capital facility provided by ANZ and a fully underwritten accelerated nonrenounceable entitlement offer to raise approximately $135 million.Cooper Energy Managing Director David Maxwell said that the announcement was a milestone for the company. “Today’s FID declaration is the culmination of 5 years’ effort under our gas strategy to identify, secure and develop gas resources best placed to supply south-east Australia with a new source of gas supply.”“We now have a fully funded gas project that is proceeding on schedule to deliver a new gas supply to south-east Australia in 2019,” he said.On current equities, Sole will deliver gas sales of 24 PJ or 4 million barrels of oil equivalent (boe), per annum to Cooper Energy, roughly four times the company’s production in FY17.Approximately 75% of the field’s gas has been contracted under long term agreements with AGL Energy, EnergyAustralia, Alinta Energy and O-I Australia.Cooper noted that declaration of Sole FID fulfills one of the principal outstanding conditions for the completion of the agreement with APA Group from June, whereby APA will acquire, upgrade and operate the Orbost Gas Plant to process gas from Sole. The other outstanding conditions include financial close for the debt financing and other regulatory approvals.The company’s gas sales agreements with AGL, EnergyAustraila, Alinta Energy and O-I Australia were subject to Sole FID. This condition precedent has accordingly been satisfied.Cooper has proved and probable reserves for the project. The company’s total 2P Reserves post the upgrade are 54 million boe of which 305 PJ or 52 million boe are gas.Cooper already awarded a contract for the subsea tie-back of the Sole well to the Orbost Gas Plant, including the fabrication and installation of 64km of pipeline, spool and manifold, along with installation of a 64km umbilical and the commissioning of the system to Subsea 7. Offshore operations will start in 2018. The rig contract has been awarded to the Diamond Offshore-owned semi-submersible drilling rig, the Ocean Monarch, which is scheduled to start in March 2018.First gas from the Sole gas project is planned to be delivered to the Orbost Gas Plant in the March quarter of 2019.
Illustration; Image Courtesy: BahriDenmark and South Korea have decided to expand their cooperation to maritime navigation.As informed, the two countries will jointly collaborate in the field of digitalization.This entails the promotion of e-navigation and the development of advanced technologies that will be used by autonomous vessels, according to South Korea’s Ministry of Oceans and Fisheries.Kim Young-choon, South Korea’s Minister of Oceans and Fisheries and Brian Mikkelsen, Denmark’s Minister of Industry, Business and Financial Affairs, signed an amendment to the memorandum of understanding (MOU) in Seoul on February 23.The MOU for the maritime cooperation between the countries was signed in May 2012 and it will now encompass artificial intelligence and big data as well.World Maritime News Staff
Connecticut-based owner of dry bulkers Eagle Bulk Shipping has acquired a 2014-built SDARI-64 Ultramax bulk carrier for USD 21.2 million. The vessel, constructed at Chengxi Shipyard, which will be renamed M/V Hamburg Eagle, is scheduled to be delivered to the company during the fourth quarter of 2018.Upon delivery of the M/V Hamburg Eagle, the company’s fleet will consist of 47 vessels.The purchase comes after Eagle Bulk returned to profit in the first quarter of 2018, reversing from a net loss of USD 11 million in the same quarter in 2017.The company said that its net profit for the period stood at USD 0.1 million.Generated net revenues for the period were USD 79.4 million, representing an increase of 73 pct year-on-year.
Norwegian maritime technology group Kongsberg Maritime has been awarded contracts with China’s Nanjing Jinling Shipyard to deliver power and hybrid systems to nine roll-on/roll-off (RoRo) vessels ordered by Italian Grimaldi Group.The contracts are valued at more than NOK 400 million (USD 47.04 million). They include an option for three additional vessels, increasing the total value to more than NOK 500 million.Due for delivery from 2020, the 64,000-ton vessels will be 238 meters long and 34 meters wide. The nine ships will be able to transport over 7,800 linear meters of rolling units, equivalent to about 500 trailers.The contract scope for the vessels, which are known as the Grimaldi Green 5th Generation, includes supply and integration of large battery systems, shaft generators, frequency converters and energy management systems. Deliveries will start in mid-2019 and are expected to be completed within 2022.“This delivery represents introduction of new technology into this market segment. The contract shows that our concepts for hybrid vessels are expanding into new vessel types,” Stene Førsund, EVP Global Sales & Marketing, Kongsberg Maritime, commented.“Our hybrid solutions deliver tangible benefits. Vessels will have zero emissions while in port, reduced overall fuel consumption by utilising our peak shaving technology, while the batteries will be charged at sea by using the shaft generators,” Førsund added.“We are delighted to have secured these contracts as they strengthen our market position for hybrid vessels. The project will be executed with resources both in Norway and China,” Egil Haugsdal, President, Kongsberg Maritime, said.
UK oilfield services provider ASCO has named Peter France as new CEO as its current chief executive has left to pursue other opportunities.Peter France has most recently worked as CEO of Rotork, a manufacturer of actuator and flow control equipment in the oil and gas sector.According to ASCO, France led the led the acquisitions of 27 companies as well as driving significant organic growth across Rotork where he joined in 1989 and where he became CEO in 2008.France, who will take over as CEO on October 1, said ASCO was an outstanding business with a reputation for excellence across the oil services industry.ASCO specializes in supply base management operations, with a suite of complementary services, including materials and warehouse management, waste management, decommissioning, transport and logistics, training, personnel provision, fuel services, and marine management.“I am looking forward to becoming part of the community in Aberdeen and to working closely with my new colleagues, customers, and suppliers across the world to build on the long and successful history of the company. ASCO has an exciting future ahead of it and I am delighted to be on board,” France said.John Gemmell, Chairman of ASCO and Partner at DH Private Equity Partners, said today: “The appointment of Peter France signals DH Private Equity Partners’ ongoing commitment to ASCO. We are fortunate to have found such an experienced leader with an outstanding track record of growth to steward ASCO through the next stage of its development. ASCO is a truly international business with a great team and a highly promising future. Together with the rest of the Board and our colleagues across the world, we look forward to working with Peter to continue ASCO’s successful journey.”Peter replaces Alan Brown, who was appointed CEO of ASCO in 2014 and who has left the company to pursue other opportunities.Gemmel also thanked Brown “for his leadership over the last four years during what has been a difficult period in the oil and gas market.”Gemmel added: “During Alan’s tenure, ASCO has invested heavily in its systems to support and optimize customers’ supply chains, has invested in developing value-added services in Materials Management, Waste handling & Marine, and has maintained the highest standards of service. ASCO is now much better placed to support customers than when he joined in 2014.”