Gold Coast beachside shack to go under the hammer after 46 years with one owner

first_imgRay White Broadbeach agent Troy Fitzgerald outside 20 Riviera Rd, Miami. Picture: Jerad WilliamsA GOLD Coast beachside shack, on the market after 46 years with one owner, is expected to fetch a seven-digit dollar figure at auction next month.The home is likely to attract plenty of buyer interest and a high sale price – given that it’s now almost impossible to find a house east of the Gold Coast Highway for less than a $1 million.Ray White Broadbeach marketing agent Troy Fitzgerald, who is taking the Miami property to auction on April 1, said the suburb was “a little bit understated”.“That pocket has got a lot of growth still,” he said. “It is the first of that type of property to be on the market in years, and it’s going to set a bit of a benchmark on other properties in the area.”The two-bedroom Miami shack hasn’t changed much. This was taken around 1971 when Gweneth and George Dean bought the property. Her children in the photo are now 50 and 52.Brisbane-based vendors Gweneth and George Dean bought the Miami property in 1971 for just $6500.“We had always holidayed in Burleigh Heads and we had another holiday house there,” 80-year-old Mrs Dean said.“During the 1971 Christmas break I happened to see a property in Riviera Rd, Miami, advertised for $6500 which I felt was worth investigating.” 20 Riviera Rd, Miami.More from news02:37Purchasers snap up every residence in the $40 million Siarn Palm Beach North10 hours ago02:37International architect Desmond Brooks selling luxury beach villa1 day agoMrs Dean said the family used to visit Burleigh Heads fortnightly and were initially attracted to the vibe of the area.“Burleigh was always a very family orientated area,” she said.“It got to a stage where we looked upon ourselves as being half local. You knew every second person you’d meet along the street.”But she said the demographic had now changed with new developments and a younger crowd moving in.“It’s now probably more tourist orientated and there’s very few of the older residents left.” she said.20 Riviera Rd, Miami in the 1970s.Since they bought 20 Riviera Rd, the Deans have only painted the property.“The last (and current) tenancy contract was signed in 2000 and although there were occasional changes of individuals the present tenant has been there since 2004,” Ms Dean said.“We have never lost a week’s rent in that time.”Mrs Dean acknowledged the property might be snapped up by developers due to its medium-density zoning and proximity to the beach.“We assumed that might happen and that’s one of the reasons we didn’t do a lot of work on it,” she said.What else you could buy in 1971?23 inch TV, $20Vegemite 4oz, 22c (113 grams)Fridge, $39Lip stick, 69cAjax washing power 20oz, 39c (566g)1964 Holden Station Wagon, $1045 20 Riviera Rd, Miami.The 536sq m block, just 200m from the beach, included an old two-bedroom weatherboard house which was built in the 1930s.“We bought it purely as an investment as we used the Burleigh house whenever we were down,” Mrs Dean said.“The area was very quiet. The house was called ‘Tween Hills’ as it was directly ‘between the hills’ of North Burleigh and Miami/ Nobby.”Highly sought-after Riviera Rd is a mix of unit blocks and luxury homes including the highest-seller – a four-bedroom home at No. 13. Riviera connects the Gold Coast Highway with popular Marine Pde.last_img read more

Partners Group buys out investors in Nordic Niam portfolio

first_imgPartners Group has bought a real estate portfolio in Finland and Sweden for €300m at a discount on the secondary market.The Swiss private market investment manager acquired the retail and office properties from investors in a fund managed by Nordic investment manager Niam.The 380,000sqm portfolio, built up in 2006-07, comprised the remaining assets in Niam Fund III.The fund will be wound up, but Niam will continue to manage the properties with Partners Group. Fund manager Urban Ehrling said he was leaving Niam following the transaction.Partners Group said it “provided an off-market solution, allowing an exit for investors and time to maximise the value creation potential of all remaining assets over the next 3-5 years”.Fabian Neuenschwander, vice-president in real estate secondaries, said: “The Finnish and Swedish real estate markets will continue to perform well in the coming years, and we see this transaction as a unique opportunity for our clients to benefit from this development.”As part of the deal, done in June and July, Partners Group was involved in negotiating the refinancing of all the portfolio’s existing debt facilities, as well as the buyout of minority shareholders and joint-venture partners.It was also involved in preparing a mezzanine facility in the capital structure of one of the investments at preferential terms.Niam said it would work with Partners Group over the next few years to execute a strategy for generating value in the properties.Pekka Salakka, senior director at Niam, said: “Niam is very familiar with these properties because we have been successfully operating these assets since the build-up of the portfolio.”Partners Group has made a number of transactions on the secondary market in recent years.Last month it said it bought 31 investors out of the $1bn (€776m) troubled Chinese property fund Trophy Property Development.last_img read more

10 Good Reasons to Change the Anti-Smacking Law – Reason #8 – Hannah & Brian

first_imgThe politicians told us the anti-smacking law was not about banning smacking, yet CYF choose a different approach. Did the politicians mislead us, or are CYF a law unto themselves? Perhaps both apply.WATCH this 5-minute clip and judge for yourself!   “They came to me for help… It’s devastating to be put in this place that I can’t have my own grandchildren.” Hannah (Grandmother) This fifth short clip is this week’s example of “10 Good Reasons to Change the Anti-Smacking Law.” It’s the evidence that politicians and the media don’t want you to see. It’s the evidence John Key asked for – but won’t watch. So take a couple of minutes to watch and judge for yourself.    To see ALL the evidence, go to our updated and new look website www.protectgoodparents.org.nz . You can view the full documentaries “Mum on a Mission” (2014) and “My Mummy’s A Criminal” (2011).It’s time we held the politicians to account on a failed law which is doing more harm than good. It’s time the politicians listened to YOU!center_img WHERE DO THE POLITICAL PARTIES STAND?Go to www.valueyourvote.org.nzlast_img read more