Mermaid Beach. Picture: Regi VargheseIt is the most expensive suburb on the Gold Coast and the fourth in Queensland — beaten only by Brisbane’s Teneriffe, New Farm and Pallara — and the first time a Gold Coast suburb has broken the $1.5 million threshold.The median house price on the Gold Coast is $640,000.Luke Henderson, director at John Henderson Professionals Mermaid Beach, said demand was out-stripping supply, causing house prices to soar.“We are seeing a lot of people who want to build their dream home here so we’re also seeing a strong demand for properties that hold older houses,” he said.“There are several factors driving people (to Mermaid Beach). The low height limit is a key driver. We have a high owner-occupancy community and you have the redevelopment of the Nobbys restaurant and cafe strip.” People enjoying a swim on the beach, Mermaid Beach. Picture: Regi Varghese Mermaid Beach Surf Club, Gold Coast. Picture: Regi VargheseMore from news02:37International architect Desmond Brooks selling luxury beach villa18 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag2 days agoKollosche Prestige Agents’ Michael Kollosche, who this week sold a beachfront property for $11.6 million, shared a similar view.“It would be anchored off the sales happening on the beachfront but the side streets of Mermaid have also been quite strong,” Mr Kollosche said.“It’s getting very difficult to find shacks in those side streets for under $1.4 million.”He said the lack of stock was causing the market to “grow consistently”. Cyclists along Hedges Ave, Mermaid Beach, Gold Coast. Picture: Regi VargheseIt comes as the Gold Coast’s prestige market emerges as the star performer of 2018 with a flurry of multimillion-dollar sales wrapping up this month.Experts are predicting the boom to continue with over 20 properties changing hands for at least $3 million each this year. BSKT Cafe at Mermaid Beach. Picture: Regi VargheseThe elite million-dollar club on the Gold Coast has increased considerably over the past five years.Other suburbs clearing the $1 million median house value include Broadbeach Waters ($1.1 million), Bundall ($1.05 million), Clear Island Waters ($1.1 million), Paradise Point ($1.0425 million) and Surfers Paradise ($1.35 million) Hot on their heels are Runaway Bay ($985,500), Coolangatta ($955,000), and Tallebudgera Valley ($945,000). Mermaid Beach is the most expensive suburb to buy a house on the Gold Coast.MERMAID Beach house values have soared to a record $1.5 million as cashed-up buyers wrestle to secure prime beachfront property.The latest CoreLogic data shows the median price for houses in Mermaid Beach rose to $1.562 million, a 9.1 per cent increase over 64 house sales in the past 12 months.
The €1bn Dutch pension fund of construction company Ballast Nedam has simplified its investment portfolio by divesting its direct property, emerging market debt and high yield holdings.In its annual report for 2016, it said the adjustment had increased liquidity in its portfolio and had made its investment policy more flexible as a result. The pension fund said it had reinvested the divestment proceeds across the remaining asset classes it invested in.It pointed out that its 2.7% stake in residential and retail property was too small to have enough of a real impact on its overall result, despite returns of 14.2% and 3%, respectively, last year. It also cited insufficient scale of its holdings of actively managed emerging market government bonds and high yield bonds as an issue. The holdings were 5% of its portfolio, and had gained 9% and 2.2%, respectively.Both asset classes had underperformed during the past five years, it noted.By replacing emerging market and high yield debt with investment grade credit, asset management costs had dropped from 0.6% to 0.1%, the pension fund said. According to its board, the adjustment to its portfolio had hardly affected returns or its legally required funding. Raising the risk profile of its investments would not be sensible, because of the pension fund’s relatively low coverage ratio, it said. This stood at 100.9% in March 2017. The company scheme, which has 710 active participants, 3,830 deferred members and 2,285 pensioners, posted an overall net return of 10.8% on investments.Its equity holdings (41.3%) gained 11.3%, while fixed income (58.6%) delivered a 8.3% return.It attributed two percentage points of its total result to the 55% hedge of the interest risk on its liabilities.In contrast, it lost 0.8 of a percentage point on its full cover of sterling, the dollar and the yen.The board indicated that it had not yet made a decision about the destination of the existing pension rights, which had remained in the pension fund since pensions accrual was last year transferred to the schemes for the building sector (BpfBOUW) and concrete industry (BpfBeton).In its latest newsletter, it indicated that a transfer to BpfBouw was not on for the time being, because it would mean a significant rights discount. As at the end of March, BpfBouw’s funding stood at 107.8%.The Ballast Nedam pension fund’s board also said that negotiations about joining one of the new general pension funds (APF) had not yielded results either, citing costs and continuity as obstacles.The pension fund’s accountibility body has indicated that it preferred continuing the current scheme.
ESL, the German Games Industry Association (“BIU”) and 20 professional and semi-professional teams have come together to found the Esports-Bundes Deutschland (“ESBD”). The announcement came yesterday, with the ESBD website and social media also being launched. The organisation aims to organise esports in Germany and act similarly to a professional sports association in the way that it represents players, clubs, teams and tournament organisers across the field. From the image above, it’s clear to see the mixture of teams featuring big hitters such as BiG and Unicorns of Love joined by teams of differing sizes across the board. H2k are another prominent name, whilst ALTERNATE aTTaX and Playing Ducks might also be familiar to the wider world. Wind and Rain recently featured a squad at IEM Oakland in PLAYERUNKNOWN’s Battlegrounds. They’re joined by ESL, and BIU as aforementioned. The board of directors to at EBSD is as follows (as reported by TEO):Niklas Timmermann – Esports agent; Dr. Fabian Laugwitz – associate partner for ACT Legal Frankfurt firm; Martin Müller – Magdeburg Esports e.V.’s chairman and co-founder;Jan Pommer – Director of Team and Federation Relations for ESL.The founding statement included quotes from ESBD’s president Hans Jagnow, who stated: “We are starting at a good timing when esports receives more attention. We want to take advantage of this opportunity to talk to all stakeholders and improve the conditions for everyone involved in esports. We also set ourselves a goal to have esports recognised soon as a sport”. Esports Insider says: Another association aiming to move esports towards official sports recognition. It remains to be seen as to whether this is something the community truly wants to happen, or if it’s something that needs to happen. We’ve seen many pop up and not make much traction so we’ll have to wait and see. When E-sport Bund is googled, the first link throws up the “ESVD” which had similar aims, albeit nowhere near as comprehensive a partner list. It’ll be interesting to see how this pans out.