Office owners reap rewards for Gold Coast facelifts

first_imgThe Gold Coast’s office market is continuing to improve, with signs that the refurbishment of existing buildings is providing lucrative opportunities for investors and developers.A report from Herron Todd White highlights that there have been numerous refurbishments of existing office buildings in the region that have generated positive returns.The report notes the refurbishment of the building at 16 Queensland Ave, Broadbeach, which was purchased for $6 million in 2012, with a “reasonably significant” upgrade subsequently undertaken at a cost of $800,000 to modernise the lift and internal floor space.Read full story on Commercial NewsMore from news02:37Purchasers snap up every residence in the $40 million Siarn Palm Beach North12 hours ago02:37International architect Desmond Brooks selling luxury beach villa1 day agolast_img read more

Rabobank scheme invests €50m in Bouwinvest residential fund

first_imgRabobank Pension Fund said it invested in real estate because the asset class was expected to produce stable returns and had “good diversification potential in relation to other investments”.Property was also interesting as an inflation hedge, the fund said.Bouwinvest said its residential fund held around 15,000 high-quality rental homes, mainly in the liberalised sector, and that it aims to generate a sustainable annual return of 6%.Tenancy agreements in the Dutch private sector have been liberalised, allowing landlords more freedom in setting rents.Bouwinvest said the fund’s long-term strategy and active asset management had produced a well-spread, well-maintained portfolio with a high occupancy level.Bouwinvest’s chief executive Dick van Hal said: “The demand for medium-priced, liberalised rental housing in the Netherlands is considerably higher than the supply.”The liberalised rental sector is a particularly interesting investment for pension funds because it provides stable quarterly income, he said.The fund has no leverage and aims for a low-to-average risk profile. The €16.1bn Rabobank Pension Fund in the Netherlands is investing €50m in the Bouwinvest Dutch Institutional (BDI) Residential Fund, with the aim of stable and sustainable returns.The corporate pension fund said it opted for the Bouwinvest fund, which had assets under management of €2.6bn at the end of 2013, because the two funds shared an aim.Jos Dirks, Rabobank Pension Fund’s managing director, said: “We have the same objective, namely achieving a stable, sustainable return for pension fund participants.”Bouwinvest manages property investments for the Dutch construction industry’s pension fund (bpfBOUW) and opened its three largest real-estate funds to other institutional investors four years ago.last_img read more

BALLON D’OR RESULTS LEAK

first_imgRonaldo Set to Beat MessiCristiano Ronaldo may have beaten his rival, Lionel Messi to the France Football organized Ballon d’Or which results are expected to be unveiled on December 2.Spanish publication reveals that leading Italian news outlets, Corriere dello Sport, Ronaldo may have been declared the winner. They claim the Portuguese striker has been recently visited by France Football representatives. There could be just one reason behind their sudden arrival at Juventus’ headquarters.The newspaper describes the whole situation as ‘significant leaks from Paris’. Corriere believe France Football delegations even had dinner with Ronaldo and Juventus director Fabio Paratici.The Ballon d’Or ceremony will take place on December 2, in more than one month. Last week, the 30-man shortlist was announced. Cristiano made the cut, as well as Leo Messi and Virgil van Dijk, the reported favourites to win the award.It sounds rather strange that Ronaldo could possibly scoop the Ballon d’Or. He lost both FIFA The Best and UEFA Player of the Year awards. It was Leo Messi who was named FIFA The Best last month.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegramlast_img read more