first_imgJupiter Fund Management, PKA, International Corporate Governance Network, Threadneedle Investments, Syntaxis Capital, Erste Asset Management, Kames Capital, Palamon Capital PartnersJupiter Fund Management – Maarten Slendebroek has been promoted from distribution and strategy director to group chief executive, succeeding Edward Bonham Carter, effective 17 March 2014. Slendebroek joined Jupiter last year from BlackRock, where he was head of international retail. Bonham Carter will remain on the board and take on a new executive role as vice-chairman, reporting to Slendebroek.PKA – Morten Lund Madsen, CFO at Danish pensions administrator PKA, has been appointed as a director of the company, as from the beginning of December. Lund Madsen was previously head of risk management at PKA, and has been at the company since January 2008.International Corporate Governance Network – Kerrie Waring has been appointed managing director. The ICGN is an investor-led organisation of governance professionals, with members in more than 50 countries, including institutional investors responsible for $18trn (€13.1trn) in global assets. Waring joined the ICGN in 2008 as COO. She was promoted to Acting Head following the departure of Carl Rosen in June 2011. Threadneedle Investments – Noël Luchena has been appointed sales director for institutional clients in Switzerland. He joins from Credit Suisse, where he spent 15 years, the latter 13 working as a relationship manager with institutional clients.Syntaxis Capital – The provider of mezzanine capital in Central Europe has appointed Rupert Coull to its ESG team. Coull will take responsibility for all elements of the company’s ESG policy. He joins from the South Yorkshire Pensions Authority, where he was principal investment manager. Before then, he worked for eight years in investment banking at Cazenove and Merrill Lynch.Erste Asset Management – Albert Stöger has been appointed head of International Institutional Business Steering at Austrian investment company Erste. The new position was set up to help Esrte manage markets where it does not yet have a distribution unit. Stöger has been working at the company since 2009 and had been director for institutional business development.Kames Capital – Nick Chatters has been appointed to the fixed income team. He joins from Citibank, where he was an assistant vice-president in its Complex Pricing Group, with responsibility for development of derivative valuations. Before then, he also held positions at Capco, GFI Group and Bayern LB.Palamon Capital Partners – Philippe Arbour has been appointed managing director of structured finance, while Antony Barker has been appointed director of investor relations and marketing. Arbour joins having spent 10 years with Lloyds Banking Group, where he worked in a variety of roles. Barker re-joins Palamon from global placement agent Campbell Lutyens and DMC Partners, where he was an investor relations associate.last_img read more

first_imgCassa Forense, the Italian social security pension fund for lawyers, plans to invest in real estate outside Italy for the first time with the help of Fabrica SGR and CBRE Global Investors.The €7bn Italian institution chose the two investment managers, both of which set up a joint investment platform dedicated to Italian institutional investors in 2012, following a public tender.Fabrica SGR and CBRE Global Investors will set up a dedicated fund vehicle for Cassa Forense that will be seeded with €200m and is “expected to reach €1bn in the medium term”, according to an announcement.Fabrica SGR will seek to manage and improve Cassa Forense’s existing domestic portfolio, while CBRE Global Investors will source and advise on investments in other EU countries. The Cicerone Fund will be Fabrica SGR’s fourth real estate fund dedicated to a pension fund and the first with a pan-European asset allocation.It comes just over a year after the Italian fund manager teamed up with CBRE Global Investors to provide Italian institutions with exposure to non-domestic property markets.There is growing interest in pan-European real estate strategies from Italian institutions, although they require investments to be structured in line with local regulations.Last year, a number of Italian investors backed a pan-European office strategy managed by AXA Real Estate, which has established its own locally regulated SGR business to cater for Italian investors.Marco Doglio, managing director at Fabrica SGR, said there was an “aim to define a standard for all Italian institutional investors that want to invest abroad”.Florencio Beccar, country manager for Italy at CBRE Global Investors, said: “Along with Fabrica, we are intensifying our efforts to make the diversification of real estate investments easier for Italian investors, so they can reach the best opportunities in world markets, independent of the Italian business cycle.”Alberto Bagnoli, chairman of Cassa Forense, said: “Fabrica and CBRE Global Investors were selected through a public tender of 10 of the best national and international players.“Cicerone Fund is aimed at enhancing Cassa Forense real estate investments by increasing the international diversification in line with our asset and liability management requirements.”last_img read more

first_imgIn their motion, they cite US pension funds – which currently invest approximately 5% of their assets in venture capital – as an example to follow.If pension funds in Switzerland were to achieve a similar allocation over the next 15 years, they said, the fund could grow to more than CHF40bn (€32bn).But Asip president Christoph Ryter warned against comparing US pension funds with Swiss Pensionskassen, citing major differences of investment structure and size.He also pointed out that the proposal makes no mention of whether participation would be mandatory for pension funds.Ryter said Swiss pension funds would be interested in such a fund only if investment were voluntary.He added that it remained to be seen whether the scheme would be attractive enough to pique pension funds’ interest.In the 1990s, the government attempted to establish an infrastructure fund to finance railway projects, among other things, making it mandatory for pension funds to invest.It abandoned its proposal, however, after objections from Swiss Pensionskassen. Asip, Switzerland’s pension fund association, has said it is potentially interested in the creation of a venture capital fund seeded with pension fund money.The creation of the fund is currently being debated in Parliament.Members of the upper house of Parliament, the Ständerat, recently brought forward a motion to create a venture capital fund to invest in innovative Swiss companies.According to the proposal, the Swiss government would “encourage” pension funds and insurers to devote parts of their portfolios to seed so-called Zukunftsfonds, or “future funds”.last_img read more

first_imgPlans to create a single market for personal pensions should not be seen as undermining the second-pillar system, the European Insurance and Occupational Pensions Authority (EIOPA) has urged.Chairman of the organisation, Gabriel Bernardino, told delegates at the EIOPA conference on Personal Pensions in Bratislava, that plans to create a European-wide single market were for the benefit of citizens, providers and the Union.Bernardino said sometimes the debate over pension provision in Europe becomes thwarted by ideology, but this should not be the case.He also stressed personal pension provisions are not be there to undermine state offerings but act as a supplement. “This is the problem we have in Europe, it is not always about right or left thinking,” he told delegates.“There are things the private pension system can do that the public system cannot.“This is not a fight between occupational and private pensions. I wish to have a robust and well-developed second-pillar system, but that is not the reality.“We have to the responsibility to bring solutions that match the reality.“It is not about whether we have just the occupational pensions or the private pensions system. It is about having sound frameworks.”Bernardino also reiterated EIOPA’s plans to consult with the industry on whether to create a new Directive to introduce common rules for current and future third-pillar savings or create a new regime entirely.He said there was ”a strong case for a new Directive” whereas creating a second regime would require further cost-benefit analysis, investigation into making it only for defined contribution (DC) vehicles, and ensuring the right balance between cost and design.Responding to Bernardino’s comments regarding any fight between second and third pillar systems, PensionsEurope secretary general, Matti Leppäla, said while the organisation supported third-pillar savings, they had different priorities.“This is not about ideology,” he said, “but we think there are more advantages in good occupational pensions than private pensions.He said second-pillar trust pensions not having to sell to clients made all the difference in cost, and there is an alignment between schemes and members.“The issue is about how to enhance private savings, but at PensionsEurope, the view is that occupational pension systems should be given the priority,” said Leppälalast_img read more

first_imgING OFE, one of Poland’s largest pension funds, is urging a local utility to pay out almost 30% of its annual profits in dividends.The scheme has tabled a motion for the forthcoming AGM of coal power producer Zespół Elektrowni Pątnów (ZE PAK), in which it holds a 10% stake, calling on other shareholders to support a PLN1.36 (€0.33) per share dividend.In a statement released to the Warsaw Stock Exchange, ZE PAK said the ING-backed motion argued the proposed payment was consistent with the company’s dividend policy, announced when it listed in late 2012.The firm reported a nearly PLN232m net profit for 2013, but its management board said in mid-March that it would table a motion during this week’s AGM that the entire sum be retained as capital by ZE PAK. It said the dividend policy – which proposed a payment of 30% of net profits to allow for the remaining capital to be used for construction of vital infrastructure – had been developed at a time when the price of energy was higher.“Sales prices currently achieved by the company are significantly lower than those recorded in the time of defining the dividend policy,” the board said in its note from mid-March.It added that the decline in energy prices would therefore lead to a fall in net profit and worse cash flows for the firm.ING PTE is urging the company to stick to its dividend policy and pay out PLN69.1m, or 29.81% of net profit, allowing it to keep the remainder for capital expenditure.The motion will be put to a vote on 25 June.ING PTE, the management company for the ING open pension fund (OFE) and voluntary pension fund (DTE), is one of the market leaders, accounting for 18% of OFE members.ING Bank Śląski last month signed a non-binding, PLN242m agreement to sell its 20% stake in ING PTE to Amsterdam-based ING Continental Europe Holdings following the successful implementation of Poland’s reforms to the OFE system that cancelled all Polish government debt holdings, accounting for more than half of second-pillar assets.last_img read more

first_imgAP3 said it had no fixed target for investment through the joint venture, and that the amount it invested would depend on the investment opportunities presenting themselves.The joint venture will see Balder and AP3 investing equally and having equal ownership of the assets.The new residential company will focus mainly on producing rental properties in growth areas within Sweden, including the country’s three metropolitan regions, as well as other areas where the population is growing.It said the property development would concentrate on being environmentally friendly.Erik Selin, chief executive at Balder and its main owner, said it was important for the company to co-invest with a player such as AP3, which, like Balder, took a long-term view on investment.“The constellation becomes strong and opens up many possibilities,” he said.In other news, Danish labour-market pension fund PensionDanmark is buying commercial properties in the cities of Aalborg and Copenhagen.The DKK171bn (€22.9bn) pension fund has bought a 7,000sqm property in Aalborg and a 26,000sqm property in the Østerbro district of Copenhagen.The Aalborg property was bought from real estate firm Nordjyske Ejendomme, and the Østerbro building was sold by Danske Bank.PensionDanmark did not disclose the value of the deals.The largest tenants of the buildings include the Appeals Board (Ankestyrelsen), as well as corporates Egmont and Danske Bank.Karsten Withington Brink, deputy director at PensionDanmark, said: “We are continually working to expand our portfolio with well-located commercial properties with solid tenants on long leases.”The pension fund made two other property investments in Aalborg recently – Alfa Laval’s new headquarters and the building housing IT firm KMD. Swedish pensions buffer fund AP3 is taking a first step into the residential property market forming a joint venture to invest in domestic residential property with listed real estate firm Balder.Kerstin Hessius, chief executive of the SEK304bn (€32.7bn) Gothenburg-based pension fund, said: “We see good opportunities in developing our Swedish property portfolio with residential together with Balder, a well-established company in the sector.”She said the strong population growth expected in Sweden meant there was a big need for more provision of residential accommodation.Although AP3 holds more than 13% of its assets, or SEK41.1bn, in real estate, so far it has never invested in the residential sector.last_img read more

first_imgThe “superfund” consolidation model proposed by the UK pensions trade body risks creating a moral hazard for the country’s defined benefit (DB) schemes, industry commentators have warned.The Pensions and Lifetime Savings Association (PLSA) yesterday published a report making the case for consolidation as a solution to stresses in the UK’s DB system. It argued for the creation of “superfunds” for weaker schemes to join as an alternative to securing full insurance buyouts or “limping on” with attempts to plug deficits.Kate Smith, head of pensions at Aegon, said the superfund proposal “needs to be treated very carefully by government and regulator”.Under the PLSA task force’s proposal, a pension scheme entering into a superfund would cut its link with the sponsoring employer, with trustees also discharged of their liabilities for benefits. Smith said allowing employers to “walk away from their DB schemes” created a moral hazard.“Removing the link with a sponsoring employer also removes DB schemes’ financial back-up plan, and could weaken members’ positions,” she added. “It’s absolutely fundamental that the funding and solvency of any superfund is robust with clear rules on who makes up the shortfall.”Stefan Lundbergh, head of Cardano Insights, said “letting the employer off the hook” would mean there was no backstop in the form of an employer, “which basically makes the superfund a mutual insurance company”. The PLSA suggested that providing superfunds might be preferable option for insurance companies under Solvency II rules, rather than taking schemes on via a buyout.David Fairs, pensions partner at KPMG UK, said the complexity that has developed in the DB system would mean the PLSA’s efforts to simplify and standardise DB funds would be welcome across all schemes, regardless of size.However, he added that the suggestion that the PPF stand behind a superfund – as proposed by the PLSA – “begs the question of who will pay the levy to the PPF to support the arrangements”.“This is a particularly potent question as the PLSA is predicting that up to half of DB pension schemes might otherwise fail,” he said.The task force acknowledged the issue of the PPF levy, but said it had “not sought, at this stage, to speculate about how that might be done, nor how the creation of superfunds might reduce the likelihood of claims on the PPF”.“Equally, we have not considered the levels of protection that superfund members could receive from either the PPF or an alternative public superfund,” the task force said.It suggested there could be a role for protection such as that provided by the Financial Services Compensation Scheme and noted that the PPF is consulting on a levy for schemes operating without a sponsor.Regulatory arbitrageCardano’s Lundbergh also argued that superfunds could benefit from regulatory arbitrage and weak risk management principles if implemented as the PLSA proposed.He criticised some of the thinking laid out, or omitted, from the task force’s report. He claimed the task force had not acknowledged the effects of poor risk management on the problems facing some schemes.Lundbergh said it was “shocking” that risk management was not listed as core element of DB schemes. The PLSA identified eight core elements in the report, which the task force then used to describe different consolidation models.Lundbergh said “the unique selling point of the proposed superfunds is that they will benefit from regulatory arbitrage and weak risk management principles”.Without good risk management, consolidating implementation of asset management will not generate benefits, he argued: “If the consolidated building blocks are not based on sound risk management principles, then it is near impossible for trustees to change the investment strategy since they don’t even have access to proper tools.”KPMG’s Fairs also saw the superfund proposed by the taskforce as being premised on regulatory arbitrage.“The PLSA paper assumes the underwriting of that risk is being carried by the PPF,” he said. “So the superfund has lower reserving requirements than an insurance company – the PPF being expected to underwrite a higher degree of risk than the Financial Compensation Scheme but at a lower price.“In effect, the PLSA is setting up a regulatory arbitrage between the insurance company reserving requirements and the reserving requirements of superfunds.  But there is no free lunch – a lower price means someone is bearing more risk at lower cost.”last_img read more

first_imgMr Winter, who is in the running for the coveted Gold Logie at Sunday night’s TV Week Logie Awards, said the pair bought the Tuscan-inspired five-bedroom house at Sanctuary Cove with a renovation in mind.‘Before’ pictures of Andrew Winter’s Gold Coast home. Source: PACIFIC IMAGE GROUP.‘After’ images taken of Winter’s newly-renovated home. Source: PACIFIC IMAGE GROUP.But its unusual design meant their focus was different to their previous projects.“We’ve never quite spent so much time focusing on the outside areas,” Mr Winter saidThe house is on the river so the pool is at the centre of the home in a European-style courtyard instead of in the back yard.WANT ANDREW TO WIN THE GOLD LOGIE? VOTE HERE“Every single bedroom has direct access to the courtyard and pool so it’s really unusual in that respect,” Mr Winter said.They liked its unusual design and style, so focused on breathing new life into the outdoor areas and remodelling the home’s interior without compromising its character.‘Before’ pictures of Winter’s Gold Coast home. Source: PACIFIC IMAGE GROUP.‘After’ images taken of Winter’s newly-renovated home. Source: PACIFIC IMAGE GROUP.“We haven’t really changed anything else layout wise,” Mr Winter said.Standout features include a daring black ceiling in the kitchen as well as a marble-look front door.“It’s a solid door but it’s cut in porcelain,” Mr Winter said.“We were trying to push a few boundaries.”He said renovations were becoming much more common as homes built in the 1970s, 80s and 90s started to look dated and property prices continued to rise.He encouraged house hunters looking to get into the property market to start off with an older home in their price range and renovate.‘Before’ pictures of Winter’s Gold Coast home. Source: PACIFIC IMAGE GROUP.‘After’ images taken of Andrew Winter’s newly-renovated home. Source: PACIFIC IMAGE GROUP.He said it was much easier to climb the property ladder than trying to buy that dream home straight away.“That’s how I started, that’s how a lot of people started,” Mr Winter said.The 60th TV Week Logie Awards will be held at The Star Gold Coast on Sunday.Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 1:28Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -1:28 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD432p432p270p270p180p180pAutoA, 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 Rate1xFullscreenAndrew Winter: Location, location, location01:29ANDREW WINTER’S TOP RENO TIPS1. Don’t live in the house through a reno, try and move out2. The devil is in the detail. Never forget all council approvals — all those hidden extras that can cost a lot of money3. Preparation is key. Plan, plan and plan again and avoid ongoing changes4. Have a daily site visit5. Be realistic with your budget, build in a contingency. And expect things to go wrong and over budget. Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 1:28Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -1:28 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD432p432p270p270p180p180pAutoA, 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 Rate1xFullscreenAndrew Winter: Location, location, location01:29Andrew Winter is an English-born real estate property expert, TV personality and author. He is known for presenting the British TV series Selling Houses and its Australian version Selling Houses Australia. Picture Rohan Kelly.HE is no stranger to home renovations but property expert Andrew Winter’s most recent project had him thinking outside the box.It has been a year since the host of Foxtel’s Selling Houses Australia bought his Gold Coast home with wife Caroline. In between his busy filming schedule he has managed to pull off a huge renovation.More from news02:37International architect Desmond Brooks selling luxury beach villa16 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag2 days agolast_img read more

first_imgVideo Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 1:44Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -1:44 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD540p540p288p288p180p180pAutoA, 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 Rate1xFullscreenHow to bid at auction for your dream home? 01:45HER name means beauty and radiance, and this period home in prestigious Hamilton has aged gracefully.Named Evelyn, the circa 1930s residence at 79 Windermere Road was bought by Amita and Mark Riksen in 2016, but with their son now studying in the US, and their daughter soon to follow suit, it is time to follow their childrens dreams. “We had been living in Brisbane since 2010 and when we found out we would be here for longer, we decided it was time to buy a home for the children,” Mr Riksen said.“We called this one the Hansel and Gretel house. “It just looked like it was made from cookies and marzipan, like something straight out of a childrens book.” The back of the house has been extendedMr Riksen said his favourite space was the kitchen, describing it as the place “we cooked, we ate, we talked, as a family”.“It truly was the heart of the house,” he said. “We watched our kids grow up but our little people are not so little anymore, they are leaving, so it is time for someone else to enjoy it. The master bedroom has plenty of room. More from newsParks and wildlife the new lust-haves post coronavirus15 hours agoNoosa’s best beachfront penthouse is about to hit the market15 hours ago The stylish kitchen. Split over two levels, four bedrooms including the master suite with ensuite and walk-in-robe occupy the upper level of the residence. On the ground floor, the traditional features continue as you enter the house, with a hallway dominated by polished timber floors, a timber staircase and chandelier. Traditional features blend with the latest mod cons.The couple, who both work in the oil and gas sector, said they were drawn to the age and history of the house, plus the modern renovations that have already been completed. Off this hallway is a study and a formal lounge with period ceilings, lead light sliding doors, feature chandeliers and a fireplace. Adjoining the formal lounge is a formal dining room, which has French doors opening on to an alfresco terrace with sandstone flooring. AUCTION Rugby star Quade Cooper and model Laura Dundovic list Brisbane love nest Moving towards the back of the house, there is an open plan kitchen with custom shaker-style cabinetry, Calacutta marble bench space, period tap ware and large butler’s pantry. This kitchen/dining space opens in to a family living room with vaulted ceilings, parquetry flooring and stacker doors that lead out on to a veranda that overlooks the pool. The ‘Hansel and Gretel’ home. Mr Riksen they got “the best of both worlds” — a traditional home with the latest mod cons.A grand portico entrance, soaring red brick chimney, period shutters and established manicured gardens add to the street appeal of the house, which sits on a 809sq m north-facing block. “They are mixed feelings (about selling) but we can look back on some really great memories in this house, in Hamilton, and in Brisbane.”The property is listed with Grace & Keenan and will go under the hammer 3pm on December 1. AUCTION Kelvin Grove art deco home owned by luxury hotel fit-out experts hits the market Plenty of storage, too.last_img read more

first_imgA plunge pool is part of the package. A stylish living room. Both of the villas features four bedrooms, three opulent bathrooms, a sun-drenched rooftop and a plunge pool. The floorplans sprawl across four levels and 456sq m. The rooftops are dedicated to the terraces, which both have a built-in barbecue. Two main bedrooms with two bathrooms are on the third level of each. The homes have an industrial vibe. 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 ago Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 1:58Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -1:58 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD576p576p360p360p216p216pAutoA, 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 Rate1xFullscreenWhy location is everything in real estate01:59 The kitchens are sleek and sophisticated. Beach views are on offer from the rooftops. “The position is massive,” Studio Workshop director Joel Hutchines, who developed the properties, said. “Really that is the last block with those views that go down the Miami Esplanade.“Plus, the proximity to the beach, cafes and Nobbys — which is where it is at.” MORE NEWS: The secret to building a Gold Coast dream home Mr Hutchines said the impressive rooftop terraces that offer stunning views were the best part of the villas. “The rooftops on both proprieties are amazing, it’s what sets them apart from what has been on the market,” he said.“When you get up there, the views and experience is very appealing.” He said Studio Workshop have an emphasis on materials and textures, hence the sleek and sophisticated blend of finishes inside. From the statement Blackbutt timber stairs to the marble kitchen benchtops with a prominent grey vein — selected as it was different to the Calacatta marble that is commonly found these days — each material was a bold and considered choice. MORE NEWS: Southport house a popular choice for househunterscenter_img A dreamy bedroom. The second floor hosts the stylish kitchens and dining rooms, with a balcony and a funky built-in seat, plus the main living rooms. A terrace, pool, two bedrooms, one bathroom and the garage are found on the ground floor of both. The entrances, with the impressive staircases, have voids that stretch the height of the four levels. The four-bedroom abodes have a $2.295 million price tag each and are being marketed by Jordan Williams of JW Prestige Agents. Marble is on show throughout. The facade was originally designed to be made of timber, but aluminium was used to ensure the properties were as low maintenance as possible and had a long lifespan. “The materials are raw and the feel is really natural, that has been a big approach of Studio Workshop,” Mr Hutchines said. “The biggest piece everyone is talking about is that screen on the front. “It is something very different for the Gold Coast … often all the buildings look the same, the screen breaks it down and created street presence that’s not too imposing.” A blissful beach lifestyle. The statement stairs. 1 & 2/8 Albatross Ave, Mermaid Beach are two new luxury listings on the market. The epitome of low-maintenance, luxurious living is on display throughout these modern Mermaid Beach villas. The eye-catching facade stands out from the crowd and conceals two homes where an industrial-style design is effortlessly blended with luxury. The entertainment havens at 1 & 2/8 Albatross Ave make the most of their location and lifestyle the area affords. last_img read more