They must also be transparent on potential conflicts of interest, he said.However, Hooijer added that Brussels currently had no intention of issuing new regulation or setting detailed standards for the industry, and that the Commission expected the profession to “sort itself out” through self-regulation.Addressing resistance to the proposed Shareholder Rights Directive, he stressed that the Commission’s underlying objective was to improve dialogue between shareholders and companies.He reminded the audience that EU member states had so far failed to heed Commission recommendations on remuneration, and that binding rules, as well as shareholders’ rights for remuneration policy, were therefore necessary.Hooijer said Brussels would look into how the identification of shareholders could be improved, and that the overriding objective of the proposed rules for related party transactions was to protect minority shareholders.“We need to find the right buttons to overcome technical issues,” he said.In the European Commission’s draft directive, transactions of more than 5% of shares must be approved by all shareholders. A high-ranking European Commission official has warned proxy advisers that they must do more to ensure their influence on the voting behaviour of investors is “objective and reliable”.Speaking at the International Corporate Governance Network’s annual conference in Amsterdam, Jeroen Hooijer, head of corporate governance at the EU’s Internal Markets and Services Directorate-General, said the methodologies behind advisers’ recommendations “don’t always sufficiently take local markets and regulations into account”.“They provide services to issuers that may affect their independence and ability to provide an objective and reliable advice,” he added.Hooijer said proxy advisers must guarantee their recommendations are accurate, and disclose the source of their advice to both their clients and listed companies.
The last of these has stated that it would not take up the offer, while BPF Meubel has already agreed to transfer to Centric. The other schemes have yet to decide whether to accept the arrangements. Centric said it would carry out pension and financial administration, and offer management support, legal advice, and communication services. The six pension funds have 200,000 participants in total.The relatively large sector schemes for hairdressers (Kappers) and the cold meat sector (Vleeswaren), with 65,000 and 77,000 participants respectively, won’t transfer their administration to Centric.“Both schemes have complicated arrangements,” explained a spokesman for Syntrus Achmea. “It turned out to be impossible to transfer their administration within the agreement and the available capacity.”Both pension funds previously indicated that they expected problems in finding a new provider in the short term.At 2016-end, Syntrus Achmea announced that it would cease servicing 15 industry-wide pension funds within two years, as its IT systems could no longer cope with the multitude of pension arrangements.Instead, it said it would focus on company and occupational pension funds, as well as its own general pension fund (APF).Commenting on the agreement, Tom van der Spek, chairman of Achmea’s retirement division, emphasised that the agreement was focused on a smooth transition of Achmea’s services to Centric.“Our customers and their participants can count on a transfer to an organisation that wants to grow and invest in the administration of sector schemes,” he said.Van der Spek added that the agreement would safeguard Achmea employees’ jobs as well as their specific knowledge and experience.Centric – which has also offices in Belgium, Germany, France, Luxembourg, Norway, Romenia, Sweden, and Switzerland – employs 4,500 staff.The €500m pension fund for the wood-processing and yacht-building sector said it would place its administration with Delta Lloyd instead.It added that it would also outsource its asset management – currently also with Syntrus Achmea – to Delta Lloyd, which is to be taken over by Nationale Nederlanden.Peter Schuil, chairman of the BPF Houtverwerkende Industrie en Jachtbouw, said that Delta Lloyd came up with the best offer, which included a “legacy-free” platform, “excellent means of communication”, and the “lowest costs”.The scheme’s current administration costs amount to €250 per participant, which is more than twice the level at most other larger pension funds. IT firm and administrative service provider Centric said it was willing to take over the pensions administration of six of the industry-wide pension funds that have to leave Syntrus Achmea.Both companies have signed a letter of intent for a collective transition scheduled to take effect before 31 December 2017.The deal also included the transfer of some of Achmea’s staff to Gouda-based Centric. The company said the number would depend on how many schemes take up its offer.In a joint statement, the companies said that the agreed arrangements involved the sector pension funds for concrete products (BPF Betonproductenindustrie), the wood trade (BPF Houthandel), the travel sector (BPF Reiswerk), dental technicians (BPF Tandtechniek), the furniture industry (BPF Meubel), and the wood-processing and yacht-building industries (BPF Houtverwerkende Industrie en Jachtbouw).
Defined contribution (DC) pension schemes in the UK have invested much less than peers abroad in socially and environmentally beneficial investments because trustees seem unsure whether they are allowed to, according to a new report.The Law Commission, a non-political body that recommends legal reform where needed, has confirmed in a government-prompted report that there are no legal or regulatory barriers to pension schemes making socially responsible investments.Law commissioner Stephen Lewis said: “Defined contribution pension schemes will be investing billions of pounds over the next decade, and it’s only right that they seek to get the best returns for their clients.”However, it was possible to ‘do well and do good’ at the same time, he said, adding that large amounts had been invested in Australia and other countries in infrastructure, which had benefited savers and society. “In the UK there seem to be some misconceptions as to whether this is allowed for these pension schemes,” he said. “We’re clear, legally, there’s nothing to stop them doing the same.”The government asked the commission late last year to assess to what extent pension schemes should consider issues of social impact when making investment decisions, and to identify any legal barriers.Since auto-enrolment was introduced in the UK five years ago, total DC investments have rocketed and are expected to reach around £1.7trn by 2030, the commission said. This had raised questions about how the new pension assets were to be invested and whether at least a proportion could be invested for the wider social good.“Investment in property and infrastructure has the potential to provide financial returns and address social concerns at the same time,” it said.However, DC schemes in the UK lag behind the rest of the world in investment in property and infrastructure.“Less than 5% of funds are invested in property and the Law Commission has not found any examples of infrastructure investment by UK defined contribution pension schemes,” the commission said.Defined benefit (DB) schemes, on the other hand, were already investing in social impact projects like infrastructure. This included £370m for the Thames Tideway Tunnel to upgrade London’s sewerage system, raised through the Pensions Infrastructure Platform.Large Australian funds invested around 8% of assets on average in infrastructure in their default arrangements, it said.UK law lets pension trustees make investment decisions based on non-financial factors – such as environmental and social concerns – provided that they have good reason to think scheme members shared the concern, and that there is no risk of significant financial detriment to the fund. Sustainable and responsible investment lobby group UKSIF welcomed the report, which it said echoed things for which its members had been asking for some years.“The government should change the investment regulations and the FCA should reflect ESG in its regulations with respect to [independent governance committees] and pension providers,” said Simon Howard, chief executive of UKSIF.Meanwhile ShareAction, an organisation promoting responsible investment, urged the government to accept the commission’s recommendation to change pensions investment regulations to clarify that trustees can take ESG concerns into account.“A change in the investment regulations would prevent trustees from using this uncertainty as an excuse for inaction,” said Bethan Livesey, head of policy and research at ShareAction.
The UK’s Pensions Regulator (TPR) has told pension scheme trustees to “negotiate robustly” with sponsoring employers if they are not giving sufficient financial support to their retirement funds.In the regulator’s annual funding statement, released yesterday, it told trustees not to agree to scheme valuations if they felt the outcome would disadvantage the scheme.It referred to “recent corporate failures” as it laid out detailed guidance for pension funds to ensure employers fulfilled their obligations.In particular, the regulator cited “the risk of long recovery plans while payments to shareholders are excessive relative to deficit repair contributions”. This echoed similar statements made by TPR in last year’s annual funding statement, but this year it went further to draw trustees’ attention to “other forms of covenant leakage” such as loans between different parts of a business, transfers of assets, and even high senior executive pay in the case of small schemes.“We believe that employers with weak covenants should normally retain cash within the company to fund sustainable growth and address their pension deficit rather than paying it out to shareholders,” the regulator said.In addition, TPR said its “proactive casework” had increased by 90% year-on-year as part of its aim to be “clearer, quicker and tougher” on scheme funding.Joe Dabrowski, head of governance and investment at the Pensions and Lifetime Savings Association, said: “This is especially relevant given that it will be 2019-20, at the earliest, before we see any of the legislative changes proposed in the government’s recent white paper.“However, it is important that as the regulator increases its activity it remains proportionate and practical in the use of its powers.”‘Robust’ discussions over Carillion’s pensions Robin Ellison gives evidence at the Carillion inquiryDuring a parliamentary inquiry into the collapse of Carillion earlier this year, politicians pressed the former chair of the company’s pension schemes over the nature of protracted discussions about scheme valuations and funding.Robin Ellison said the trustee board had pushed the construction and engineering contractor as hard as it could.“We did our best with the information at our disposal,” he said, adding that it was a balancing act between getting as much money for the pension scheme as possible without driving the sponsor out of business. “I don’t think there is anything more we could have done to pursue higher contributions.”Ellison maintained that the trustees “did not just roll over and get our tummies tickled when the company paused contributions”.In a letter to the inquiry, TPR chief executive Lesley Titcomb said the regulator had “robustly supported the trustees during negotiations about scheme funding” and made clear to the trustees and employer that it would use enforcement powers if agreement was not reached. The regulator did not take any formal enforcement action until after Carillion collapsed, but argued that the threat of action had persuaded the company to agree to higher contributions.Brexit impactAs well as employer contributions, the regulator also emphasised the importance of factoring in Brexit to future funding and strategy discussions. It said trustees and employers should have “open and collaborative discussions” about the impact of the UK’s exit from the EU on the economy and on relevant business sectors.Sponsors could hold back cash from their schemes to protect against Brexit uncertainty, TPR said, but trustees should ensure shareholders were “also sharing the burden proportionately”.Matthew Arends, partner at Aon Hewitt, said the regulator’s statements indicated that it would place more emphasis on planning for future triennial valuations rather than just the closest one.His colleague Lynda Whitney added: “Trustees and employers need to consider prudence levels in 2018 valuations in anticipation of future changes.”TPR’s full annual funding statement is available here .
For its dynamic investment product, Fondenergia wants a balanced equities manager for around €160m of assets.The manager would be able to modify the relative allocation between equity and bond instruments, the pension fund said.Fondenergia’s deadline for tenders is 12 noon Central European Time on 23 November.Hygiene scheme seeks ESG managerPreviAmbiente, the Italian pension fund for workers in the environmental hygiene and related sectors, has put an active environmental, social and governance (ESG) equities investment mandate out to tender.The €1bn pension fund is searching for a manager to take on a €110m mandate, benchmarked against the MSCI ACWI ESG Leaders index.The actively managed mandate is denominated in euros and will form part of the pension fund’s balanced investment portfolio.The deadline for proposals is 3pm Central European Time on 13 November, according to the notice.Banking fund tenders for DC providerBanking sector pension fund Previbank is looking for a investment manager to run a portfolio for its Comparto Finanziario investment option.The mandate is for five years and involves all assets in this defined contribution fund, which at the end of December 2017 amounted to €44.4m of ANDP (assets linked to pension benefits) and €9.4m of other pension assets.The balanced equities mandate is to follow an active style, aiming for a higher yield than the benchmark, and to stick within an 8% tracking error limit.The Milan-based pension fund also laid out plans for an ESG investment policy. Fondenergia, the Italian pension fund for workers in Italy’s energy sector, is searching for asset managers to run two investment options worth a collective €320m.According to a mandate notice published today, the fund wants managers for its balanced and dynamic investment portfolios.For the balanced portfolio, Fondenergia said the assets were to be invested actively with the aim of producing an above-benchmark yield over a three-year period.Currency hedging is planned, and the tracking error limit has been set at 7%.
David Plank, Head of Australian Economics at ANZ. Source: Linkedin. High rise apartments in Brisbane’s West End. Picture: Mark Calleja.And despite the doom and gloom around Brisbane’s inner-city apartment market, Mr Gradwell said those oversupply concerns were no longer warranted, with attached dwelling completions reaching a peak in 2017.“Even though there’s still a strong pipeline of work in 2018 and 2019, the worst of that supply increase is behind us,” Mr Gradwell said.“We’re seeing demand is picking up now because Brisbane and the rest of Queensland’s population growth is really improving and confidence is pretty strong and that’s likely to accelerate.” OWNERS PAID THOUSANDS, SOLD FOR MILLIONS In good news for property investors in Brisbane, new figures from SQM Research show the rental vacancy rate fell to 2.9 per cent in May — the fifth straight monthly decline. “We believe that a rise in interstate migration is lifting population growth rates in Brisbane plus the peak in unit completions is creating this turnaround in the rental market,” SQM Research managing director Louis Christopher said. Brisbane home prices have only declined modestly. Image: AAP/Glenn Hunt.ABS chief economist Bruce Hockman said regulatory changes and tighter lending conditions had continued to impact investors, who were more active in the Sydney and Melbourne markets than Brisbane.“These cities have seen strong price growth over recent years particularly in detached dwellings,” Mr Hockman said. RENOVATION ADDS $158,000 TO SALE In its report, ANZ said “weakness in Australia’s housing market has persisted longer than we expected” and now sees the RBA starting to raise rates in August 2019, not May as originally predicted, with a second rate hike in November.The bank expects home prices around the country to fall by 4 per cent in 2018 and a further 2 per cent in 2019. The Reserve Bank of Australia kept interest rates on hold at 1.5 per cent at its last board meeting. Image: AAP/Peter Rae.But ANZ’s head of Australian Economics, David Plank, said he did not expect that to derail Australia’s economic outlook because it reflected a regulatory-induced tightening in the supply of credit rather than tighter monetary policy.“We think, as a result, that the impact on the economy will be less pervasive,” he said. A house for sale in the Brisbane suburb of Stafford. Image: AAP/Glenn Hunt.HOUSE prices in Sydney and Melbourne are set to slump 10 per cent as the nation faces a property correction, but Brisbane will be“insulated” from the storm, one of the nation’s biggest banks predicts.A report released by ANZ Bank reveals it expects the Queensland capital’s improving economy and population growth to “soften the extent of near-term price falls” driven by tighter credit and higher interest rates next year. GET THE LATEST REAL ESTATE NEWS DIRECT TO YOUR INBOX HERE ANZ senior economist Daniel Gradwell said Brisbane was in a much better position than Sydney and Melbourne, with home prices likely to stabilise — not fall — in 2019.“Brisbane hasn’t seen the same growth, so it’s likely to be insulated from that,” Mr Gradwell said. ANZ Bank has downgraded its outlook for house prices. Image: AAP/Joel Carrett.More from newsParks and wildlife the new lust-haves post coronavirus18 hours agoNoosa’s best beachfront penthouse is about to hit the market18 hours agoIt comes as official figures released by the Australian Bureau of Statistics on Tuesday show residential property prices fell 0.7 per cent nationally in the first three months of the year — led by the two biggest cities.Sydney recorded the third straight quarter of falling property prices (-1.2 per cent) and the first annual price fall (-0.5 per cent) since the March quarter of 2012, while Melbourne home prices fell 0.6 per cent.Brisbane home prices also declined 0.6 per cent during the quarter, but they are up 1.6 per cent on the same time a year ago. LAVISH BRISBANE SKY HOME SELLS AT HUGE DISCOUNT
The bedrooms are large.The house has four bedrooms, two bathrooms and a double lockup garage.There are multiple living areas, including a media room, and there are Caesarstone benchtops, eight zoned ducted airconditioning, and security alarms.There is a solar heated pool and the house is on a 732sq m block. The house at 12 Nicklaus Pde, North Lakes, was sold for $949,000.THIS North Lakes house sold for almost double the suburb median.Ray White North Lakes principal Darren Suhle said large family homes were in demand, with the 12 Nicklaus Pde house sold for $949,000. The house was ultra-modern.That figure is a 9.6 per cent increase over the past three years.Mr Suhle said the two-level house sold to a family with children.“They liked the size of the home and the room for the kids to play,” he said.“It is in a very good location in North Lakes, it is quite a large home and is on a good sized block.” One of the home’s living areas. The pool at the two-level house was a drawcard for buyers.“Big family homes are going really well at the moment,” Mr Suhle said.“They are always in high demand.”According to CoreLogic data, the suburb median house sale price for North Lakes is $493,250.More from newsLand grab sees 12 Sandstone Lakes homesites sell in a week21 Jun 2020Tropical haven walking distance from the surf9 Oct 2019
Check out that view.Fancy a view while taking a dip?The indoor pool inside this sprawling acreage estate is surrounded by floor-to-ceiling windows that frame sweeping views of the Hinterland.Watch storms roll in or admire the changing colours of the bushland — regardless of the weather outside, it won’t stop you from jumping in the pool.For those who struggle with the chill when getting out, there’s a fireplace right by the pool offering the perfect spot to warm up. The heated pool and spa are connected by a stepped waterfall and form part of the two-storey house’s recreation room.Large windows, a high ceiling and white interior make it feel bright and open while plenty of lights mean you can indulge in a late-night dip. 3. 70 Andrews Rd, Tallebudgera 1. 5 Julatten Drive, Robina The Gold Coast offers some pretty amazing indoor pools.TEMPERATURES on the Gold Coast are starting to dip but that doesn’t mean you have to give your pool the cold shoulder.There are a range of properties across the city with indoor pools that will make it much more appealing to take the plunge this winter.From a Hampton-inspired mansion to an acreage estate in the Hinterland, house hunters have plenty to choose from.Here are some of the Coast’s best that are up for grabs. Nicole Marino owns the property at 5 Julatten Drive, which is on the market. Pic: Glenn HampsonHouse hunters looking for a luxury pool to swim in year round can’t go past the one in this Hamptons-inspired mansion. MORE NEWS: Would you pay $2m for this clever design? Pool party anyone?The lavish indoor pool that makes up a wing of this extravagant waterfront mansion is like one featured in a resort.It is solar heated and has a spa, dehumidifier, steam room and gym.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 agoA wall of windows surrounds the pool room, offering views of the tropical garden and wide water surrounding the 2030sq m lakefront property.It also has a glass sliding door offering easy access to a barbecue pavilion and entertainment terrace, which has a large outdoor pool and spa, without having to traipse water through the house. MORE NEWS: Fancy kicking back in a show-shaped bath? 4. 15 Landman Court, Clagiraba You’ll barely notice it’s an indoor pool.Gaze up at the stars or soak up the sun’s rays without battling the elements in this Hinterland home’s pool. The 18m salt water pool is in a conservatory with a spa, water slide and bathroom.While swimmers can clearly see out, there is no need to worry about privacy.The four-bedroom home is on a 2.14 ha block surrounded by other acreage properties and sports fields, making it difficult to be seen by wandering eyes. 2. 95/40 Cotlew Street East, Southport Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 0:51Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:51 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD576p576p432p432p270p270pAutoA, 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 Rate1xFullscreenStarting your hunt for a dream home00:51
Ray White New Farm principal Matt Lancashire recently sold his house at 50 Crase St, New Farm.The colonial property is one of Brisbane’s iconic heritage homes; perched high on a hill with superb views and boasting wide verandahs overlooking landscaped gardens.Built in 1887, the home was named Blenheim House by its original owner, JG Johnson, a civil engineer who owned the property until its sale in 1893.“It won’t be a significant renovation — more a cosmetic facelift … to just make it ours,” Mr Lancashire said. There is more demand than supply for Brisbane’s prestige property market at the moment.Mr Adcock said he had negotiated $22 million worth of property sales in the past 90 days.“Some of those people were interested four or five weeks ago, but are now ready to buy,” he said.“We’re seeing a lot of (overseas buyers and expats) who were going to buy in Sydney or Melbourne, instead coming to Brisbane. “And a lot of locals are thinking now is the time to upgrade and get some good capital groqwth over the next few years.” New Farm heritage home, Blenheim House, is rich in history. This property at 146 Virginia Ave, Hawthorne, has sold for more than $6m.“There are more buyers than properties, which is great because it’s been a long time since that happened,” she said.One of the biggest residential transactions of 2019 so far is the sale of a riverfront property at 39 Griffith St, New Farm.The five-bedroom, three-bathroom house on an 873 sqm block fetched $7.75 million in March when it sold at auction to Queensland richlister and property developer Kevin Seymour. Ray White prestige agent Matt Lancashire has bought Blenheim House in New Farm.For the first time in years, agents say market confidence has hit a new high, there is a sense of urgency to buy and demand is outweighing supply — creating a prestige property drought that could drive up prices over the next few years.“I think Brisbane is targeted in the next three to five years to see some significant growth,” Mr Lancashire said.“With all the infrastructure that’s going in, all of the urban renewal that’s happening, Brisbane is a really affordable, livable city. Matt Lancashire, wife Caitlyn and two of their three kids, Monty, 3, and Lulu, 1. Picture: Annette Dew.HE may spruik Brisbane’s prestige property market for a living, but you can’t say Matt Lancashire doesn’t put his money where his mouth is. The principal of Ray White New Farm and the man behind many of the city’s most expensive home sales recently sunk more than $4 million — according to industry sources — into his own forever home in New Farm.Mr Lancashire refused to reveal the purchase price, but has no doubts the 130-year-old heritage home on a 1000 sqm corner block is worth every cent.The top agent’s investment says a lot about his faith in the future of Brisbane’s prestige housing market. The quaint kitchen in Blenheim House.More from newsParks and wildlife the new lust-haves post coronavirus12 hours agoNoosa’s best beachfront penthouse is about to hit the market12 hours agoMr Lancashire said there had been a surge in buyer activity since the federal election, which had increased competition for what was an already tight market with limited stock. “Since the election, we’ve seen a 30 per cent increase (in online) enquiries and a 10 per cent increase in open for inspection numbers, which is a huge statistic,” Mr Lancashire said.And he’s not the only prestige agent noticing a change at the top end of town.Adcock Prestige Property managing director Jason Adcock said he had noticed “ a renewed sense of urgency” among buyers, which he had not seen since 2010.“Ever since the LNP got back in and the interest rate reduction, we’ve seen a renewed surge in buyers who were sitting on their hands now moving forward,” Mr Adcock said.“They realise there is likely to be strong, steady growth over the next few years and realise they’ll have to capitalise now.” This home at 30 Wendell St, Norman Park, has sold for $6m.Mrs Hackett said she had also noticed an influx in buyers looking to upgrade since the federal election. She said she had negotiated three sales above $6 million on the Brisbane River in the past 45 days.They include a four-bedroom house at 30 Wendell St, Norman Park, formerly owned by Aria Development boss Tim Forrester, and another riverfront property at 146 Virginia Ave, Hawthorne. This house at 65 Longman Tce, Chelmer, has sold for $6.6m.Place Estate Agents managing director Sarah Hackett said the top end of the market was awash with buyers waiting to pounce on prestige properties, but there were not enough to choose from.“I’ve never seen such a little amount of stock available,” Mrs Hackett said.“We’re seeing multiple offers on properties because there’s not as much to choose from.“(Properties with) good floorplans conducive to the outdoors, gardens and the river are in demand.” This property at 39 Griffith St, New Farm, sold for $7.75m at auction.Mr Lancashire, who sold 39 Griffith Street along with colleague Nicholas Given, said the sale was proof buyers in Brisbane were willing spend big dollars to secure the right property — even if it was in less private circumstances than an off market or private treaty deal. A verandah overlooks the pool at Blenheim House.“I deal with a lot of people from Sydney and Melbourne, as well as expats who are making lifestyle decisions to come back and being affordable is a huge factor for them.” Mr Lancashire and his wife, Caitlin, are about to embark on a renovation of their new home before moving in, having recently sold their previous home in Teneriffe.“We’d been looking around New Farm for a big block, bid at a number of auctions and were always looking for our next 20-plus year home,” Mr Lancashire said.
Quade Cooper, with his partner Laura Dundovic, has sold his Bulimba home. Picture: Adam Head.RUGBY union star Quade Cooper has finally sold his luxury Brisbane riverside home for just over $2.2 million, after it languished for more than a year on the market.It turns out not everyone wants to live like a celebrity, with a number of other sports stars struggling to sell their properties in the city despite buyer demand running hot.The modern concrete mansion in Bulimba that Mr Cooper shared with his girlfriend, model and former Miss Universe Australia Laura Dundovic, has sold to a couple relocating from Melbourne. Quade Cooper and his partner Laura Dundovic at the Bulimba home that has just sold. Picture: Adam Head.The home at 34 Addison Avenue was last listed for between $2.25 million and $2.35 million after failing to sell at auction in late 2018.The two-storey property was renovated by Graya Construction in 2017, drawing on strong geometric lines and glass panelling.Set on a 445 sqm block, the house has four bedrooms, three bathrooms, a pool and a 12m marina berth on the Brisbane River. This ultra modern, riverside home at 34 Addison Ave, Bulimba, has just sold for over $2.2m.Symmetry is integral to the design, from the concrete kitchen island to the overhang of the upstairs balcony out over the glass pool. A department store-style walk-through wardrobe in the master suite and a swim-through passage in the pool straight into the shower are just two of the many luxury features added.Mr Cooper, now playing with the Melbourne Rebels, bought the 2006-built home for $1.845 million in 2015 when he was with the Queensland Reds. The pool at the home at 34 Addison Ave, Bulimba.Michael Bacon and Simon Caulfield from Place Kangaroo Point negotiated the sale.Mr Bacon said the property attracted a lot of interest, but its unique design was not for everyone.“It only suited a few people,” Mr Bacon said.“It didn’t really suit a lot of families because of the orientation of the house.” The property at 34 Addison Ave, Bulimba, has a rooftop terrace.Mr Bacon said he took more than 60 groups through the home, including apartment buyers who liked the fact it was low maintenance and on a small block.“It’s a unique home that has a lot distinct features,” he said.More from newsParks and wildlife the new lust-haves post coronavirus10 hours agoNoosa’s best beachfront penthouse is about to hit the market10 hours agoMeantime, Brisbane Broncos captain Darius Boyd and his wife, Kayla, are still trying to sell their near-new home in Hendra. The property at 34 Addison Ave, Bulimba, comes with a 12m marina berth on the Brisbane River.The property at 78 Harding Street was built two years ago after they commissioned Base Architecture and builder Graya Constructions to create the four-bedroom home with jet black exterior. They bought the original property for $810,000 in 2016 and have had it on the market since March last year. Broncos captain Darius Boyd and his wife Kayla at the home they are trying to sell in Hendra. Photo: Mark Cranitch.The Boyds have moved on to their next project in Paddington, where they spent $1.205 million on an original 1930s cottage that they are now renovating.And the Chambers Street, New Farm, home of Brisbane Roar player Brett Holman and his wife Femke is still on the market after their move to the Sunshine Coast.The house has five bedrooms and four bathrooms and sits on 443 sqm. This home at 78 Harding St, Hendra, is for sale. Picture: Instagram.