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 These are 2018’s best homes MORE: Online shopping trends are among the headwinds set to bombard retail property returns in the coming five years. Picture: AP Photo/Bebeto Matthews.Shoppers flocking to their couches for a bit of online retail therapy have property experts spooked, sending shivers through the latest five-year price forecasts. Retail was set to be the proverbial canary in the coal mine amid a fresh warning for commercial and industrial property investors to brace for lower returns in the coming half-decade.The siren was sounded by industry analyst and economic forecaster, BIS Oxford Economics in its latest Australian Property Outlook report out today.Author BIS Oxford Economics head of property Dr Frank Gelber expected post-GFC double-digit returns that the sectors have been enjoying to drop to single digits in the next five years.“Markets with low expectation of capital gain will soften first as buying pressure dries up,” he said. “Already, sentiment has turned against retail property, primarily for fear of growth in internet shopping. Other markets, too, are vulnerable.” Brisbane suburbs to watch in 2019 FOLLOW SOPHIE FOSTER ON FACEBOOK Retail, where the digital headwinds were, was also the sector most vulnerable to a shift in investor sentiment.Large format shopping centres were expected to ride it out better than traditional retail stores — with returns expected to halve to around 7.9 per cent on a five-year horizon. Still, it’s a big drop from the previous five years 16.7 per cent.The best performance for investors was expected to come from office markets with strong rental growth: Sydney (9.2 per cent internal rate of return IRR), Melbourne (7.7 per cent) and Canberra (6.1 per cent), according to Dr Gelber. All three though are a far cry from the 2013-2018 heyday where Sydney was 17.8 per cent, Melbourne 14.9 per cent and Canberra 10 per cent. More from newsParks and wildlife the new lust-haves post coronavirus15 hours agoNoosa’s best beachfront penthouse is about to hit the market15 hours agoOffice markets in Melbourne, Sydney and Canberra were expected to be the best performers.“The weakest markets will be those which are cyclically exposed to weak leasing conditions. The Perth, Adelaide and Brisbane office markets will be vulnerable as investors come to realise how long it will take to absorb the oversupply of stock and the cost of re-leasing space in weak markets with high incentives. As investor interest dries up, softening yields will weaken prices and returns.”The good news for the sectors was that rising rents could add a soothing balm.“We can’t just put the money in cash. We have no choice but to allocate funds to the best available returns for given risk. Now we revert to leasing markets driving rents and hence capital growth and total returns. That brings the importance of demand and supply cycles back into play.”The most stable sector, according to the report, was expected to be “the currently less cyclical industrial markets”. “Expected total returns are solid rather than spectacular,” Dr Gelber said. “But risk of oversupply is low.”He acknowledged that “investment is becoming harder as the tailwind from falling bond rates turns into a headwind, and as the leasing and property cycles turn.”
“It’s on three levels and has views from each one. It feels like you’re living in the view rather than just looking at it.”Ms Skuza said the house itself was a blank canvas so it would be easy for someone to come in and put their own stamp on it.Big enough to host extended family on both sides, the home features an expansive entertaining area and a new kitchen. “If you’re going away, everyone will keep an eye on your house and water the plants if they look like they’re dying.”The suburb is also known for its native forna, making birdwatching from the house a morning ritual. “Bob walked across the creek quite frequently to go fishing, and it was just lifestyle that attracted us and the fact that it’s such a beautiful house,” Ms Skuza said.“I’ll miss sitting on the big veranda on Sunday morning and watching all the bird life coming in; the brolgas in the park, the jabiru, whistle ducks — all kinds of stuff.” READ MORE: Sneak peek at Strand’s new $50m Marina Residences “Having a guest room downstairs is great, and it’s been everything from a movie theatre to hosting discos over the years.”Located in a family-oriented neighbourhood, she said residents felt comfortable that their homes were watched over if they were away. “It’s a very friendly neighbourhood, everybody knows everyone and usually by their dog’s name before the owner.“We have a lot of dinner parties and footy competitions, so it’s a real community feel and a feeling of belonging. House of the Week: Beauty by the beach “We’ve just put in the kitchen two years ago, I designed it myself — it’s got a work station so you don’t need to put all your utensils away and there’s a place on the bench for everything,” she said.More from news01:21Buyer demand explodes in Townsville’s 2019 flood-affected suburbs12 Sep 202001:21‘Giant surge’ in new home sales lifts Townsville property market10 Sep 2020Ms Skuza said the family had hosted Christmas at the house for the past 16 years, with about 38 people joining in the celebrations last year. “It has a huge oven that’s really deep and high; it’s called an American oven because it’s made to fit huge turkeys,” she said.Spread over three levels, the house has four separate living spaces, a downstairs granny flat, and a large in-ground pool, perfect for a Sunday afternoon swim. This house at 42 Seaward Crescent, Pallarenda, is on the market for $900,000.For more than a decade, the Skuza family have enjoyed the lifestyle that comes with living beachside in Pallarenda, including endless afternoons on their front deck watching the sunset paint the Pinnacles dusty pink.With a work transfer to Wollongong, Bob and Michele Skuza are bidding a sad farewell to the white walls and cathedral-style ceilings that their daughter grew up with.“It’s a house that has seen us through various stage of our lives, including a new child — we built the nursery upstairs,” Ms Skuza said. “It’s a very welcoming house, the way it’s been designed is open-plan but there are still rooms to escape to; there are two lounge rooms on the middle level, one lounge on the bottom floor, and one lounge at the top on the mezzanine deck,” Ms Skuza said. “The downstairs guest room has a kitchenette and that’s where our parents used to stay when they’d come to visit — so that was a space where they could stay for extended periods because they had their own little hideaway. It pays to buy in Townsville MORE REAL ESTATE NEWS
The home at 1587 Nudgee Rd, Nudgee Beach. Picture: supplied.A hidden waterfront gem has hit the market in Nudgee Beach for the first time in almost three decades. The 1920s Queenslander sits on a 1.42ha beachfront block at 1587 Nudgee Rd, the only privately owned land to the right of Nudgee Rd in the area. Owner Jenny Langdon said the property was her own private getaway from modern life. “As soon as I saw, that was it I fell in love,” she said. “The house was pretty run down. The stumps were falling out and the roof was leaking but it was all about the location.” Ms Langdon bought the home with her then husband in 1991. “Our two kids were little and we had a dog, so it was perfect,” she said. “The kids had plenty of space to play and they could walk out the front and go for a swim.” The restored Queenslander at 1587 Nudgee Rd, Nudgee Beach. Picture: supplied.Ms Langdon said restoring the old Queenslander was a labour of love. She renovated the whole house from the roof to the stumps, the verandas to the kitchen and bathrooms. “Everything was done to be classic, to suit the era of the home,” Ms Langdon said.“It’s now a traditional Queenslander with modern conveniences.” Ms Langdon said the seaside acreage only existed for her to buy thanks to the previous owner Mary Kernoski. The property began its life as a pineapple farm leased by Jack Fuller around 1900. He built the Queenslander that currently stands there in late 1920. The property passed through a number of hands before being bought by John and Mary Kernoski at auction in about 1950. The formal dining and living area features a fireplace and stained glass windows. Picture: supplied.The coupled named the property Tullamore and they lived there until they passed away, Mr Kernoski in 1969 and Mrs Kernoski in 1990. Ms Langdon said the couple lost part of their property when the government resumed land for the Brisbane airport. The government tried to resume the rest of the property at a later date but Mrs Kernoski fought tooth and nail and managed to hold onto the remaining 1.42ha. “That’s what the property does, you don’t want to leave it,” Ms Langdon said. More from newsParks and wildlife the new lust-haves post coronavirus11 hours agoNoosa’s best beachfront penthouse is about to hit the market11 hours agoToday the beautifully-restored home has timber floorboards, high ceilings, VJ walls, fresh paint and new LED lights. This screened deck looks out over the ocean. Picture: suppliedThere is an open-plan timber and granite kitchen and meals area flowing out to the veranda, along with a formal lounge room and dining area with fireplace.There is also a second living area, sitting room, gallery and study. The main bedroom has a walk-in wardrobe, ensuite and veranda access while two other bedrooms have access to a private veranda. Downstairs there is a self-contained area with kitchen, living space, bedroom area and bathroom. Ms Langdon said her favourite room in the home was the formal living and dining room with stained glass windows. “I just love that room. It has so much history, if only the walls could talk,” she said. Ms Langdon said she also loved the screened front deck. “You’re sheltered from the wind there and you can just sit and watch the tide come in.”The home is on the market through Alex Phillis and Zack Tanti of Alex Phillis Real Estate.
The home at 6 Rail Close, Dayboro. Picture: supplied.You won’t have to fall through a rabbit hole to find a wonderland with this Dayboro family home. The five-bedroom property at 6 Rail Close, Dayboro has spacious rooms, a beautifully maintained yard and a secret Alice in Wonderland themed play area. Owner Vyv Bloomfield said the wonderland space included a table coming out of the wall, themed mural and quirky little details. “There’s a roof so you don’t have to worry about kids getting sunburnt and there is a little picket fence,” she said. Part of the Alice in Wonderland play area. Picture: Vyv Bloomfield.The home sits on a 660sq m block with beautiful gardens. “There was not much of a garden when we first moved in,” Ms Bloomfield said. “Now there is a waterfall front garden and beautiful gardens all the way around the backyard.“There’s not a pebble that hasn’t been turned over and cleaned. “Down the side of the house there was just rocks and it was really hot. We put a roof on and put in ferns. We turned it from a desert into an oasis.” The open-plan living spaces overlook the back yard. Picture: supplied.Inside the home has an open-plan living, dining and kitchen area opening to the outdoor entertaining space. A separate lounge room has a fireplace and there is a study large enough to be a fifth bedroom. More from newsParks and wildlife the new lust-haves post coronavirus11 hours agoNoosa’s best beachfront penthouse is about to hit the market11 hours agoThe main bedroom has two walk-in wardrobes and an ensuite with bath and separate toilet. “The ensuite is lovely, it’s one of the largest I’ve seen in a long time,” Ms Bloomfield said. The spacious master bedroom opens to the backyard. Picture: supplied.The remaining bedrooms have built-in wardrobes and there is a family bathroom, a separate toilet and an internal laundry with linen closet. Outside the front veranda wraps around one side of the home and there is a garden shed and rain water tank. “It’s really such nice home and the only reason we are leaving is to downsize,” Ms Bloomfield said. The property is on the market through Leigh Hutton of Belle Property Samford.
REAL ESTATE: 10 Lama St, ChelmerThe son of one of the founders of online travel juggernaut Wotif has sold his renovated heritage house in Chelmer for a cool $2.625 million – more than double the original purchase price. 10 Lama St, ChelmerWill Brice is the son of Wotif co-founder and philanthropist Andrew Brice, who teamed up with entrepreneur Graeme Wood to launch the successful online booking platform in Brisbane in 2000. William Brice with his children (top) Henry Bresler and Louis Brice in front of their newly renovated house, Dalmuir, in Chelmer, Brisbane. Lyndon Mechielsen/The AustralianFourteen years later, the duo sold the company to US travel giant Expedia for $700 million.Will Brice bought the rundown Dalmuir homestead at 10 Lama St in Chelmer for $1.15 million in 2017 before embarking on an extensive overhaul of the property. RELATED: Wotif you could escape to this heritage house? Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 1:11Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -1:11 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD540p540p360p360p270p270pAutoA, 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 Rate1xFullscreen5 tips to style your home for sale01:12 There is ornamental original fireplace and solid pine floorboards in the foyer, a formal lounge and a combined family and living area which is overlooked by the kitchen.More from newsParks and wildlife the new lust-haves post coronavirus10 hours agoNoosa’s best beachfront penthouse is about to hit the market10 hours ago MORE NEWS: River, the sea, canals driving up prices Earlier this year, Mr Brice described it as a “huge labour of love”, with the renovation consisting of an almost total rebuild.But the results spoke volumes, with the revamped heritage house now under offer. There is also a sparkling inground pool with floating steppers allowing easy access to the covered pool cabana.Other features include an attic retreat with built-in day beds, a mudroom, Jane Churchill and European wallpapers in the formal spaces, a guest room, and the original ironwork detail on front veranda, Juliette balcony and internal staircase. The impressive master suite is located away from the hustle and bustle of the home and has a spacious ensuite and walk-in wardrobe.The children’s wing contains three bedrooms, and the indoor/outdoor room opens via sliding glass doors to create an alfresco dining experience, complete with wood fireplace for the cooler evenings. The house was sold by Ray White Sherwood-Graceville agent Douglas May.Features include five bedrooms, three bathrooms, four entertaining areas, a stunning facade and landscaped gardens. TV host Andrew Winter sells waterfront home Why selling off-market could cost you
LNG World News Staff Kochi LNG storage tanks (Image courtesy of Petronet LNG)India is reportedly planning to add 11 more liquefied natural gas (LNG) import terminals as the country is boosting the share of gas in its energy mix.The country currently imports LNG via four facilities, namely Petronet’s Dahej and Kochi LNG terminals, Shell’s Hazira plant, and the Dabhol terminal operated by Ratnagiri Gas and Power. It imported almost 20 million tonnes last year.India plans to more than double the share of natural gas in its energy mix to 15 percent by 2022 from about 6.5 percent now.To realize this plan, over the next seven years the government plans to raise regasification capacity to 70 million tonnes per year, Reuters reported on Wednesday citing Narendra Taneja, spokesman for the ruling Bharatiya Janata Party (BJP) as saying.India would eventually require even more than 15 LNG import terminals to meet its demand, the report said.The 70 million-tonnes-a-year target a few years later would mean India would need to import more than China took last year via both pipelines and tankers, and it would put India close to what top importer Japan currently buys.As part of its drive to reduce pollution, Taneja said the government was encouraging Indian railway companies and LNG importers to look at fuelling trains by LNG instead of diesel.India also wants to become a hub for supplying ships that run on LNG, with plans to build more facilities like a fuelling station at Kochi port, Taneja said.
Offshore classification organization ABS has been selected by Seacor Marine to class the first offshore support vessel (OSV) in the Gulf of Mexico to operate using hybrid power.Seacor requested the Battery-Li notation for its Seacor Maya OSV currently operated by Mantenimiento Express Maritimo (Mexmar), Seacor Marine’s joint venture in Mexico.ABS said on Monday that the OSV was being upgraded to use lithium battery power, with modifications expected to be completed in May 2018.ABS’ director for offshore support vessels, Wei Huang, said: “ABS recognizes the economic and environmental benefits of hybrid-powered vessels to reduce fuel consumption and emissions in the marine and offshore industries. This milestone reinforces our safety mission and promotes the development of alternative power applications and energy storage systems that optimize efficiencies.”Seacor’s manager of engineering, Tim Clerc, added: “The hybrid power solution on the Seacor Maya has the potential to significantly reduce fuel consumption—by as much as 20 percent. To help Seacor realize the benefit of using cutting-edge hybrid power, we partnered with ABS, to class the lithium battery system, to help validate its reliability. The operational savings gained from a hybrid power solution will also reduce emissions and facilitate our compliance with strict environmental regulations.”Seacor also engaged ABS to provide the optional Battery-Li notation, on three additional OSVs operated by Mexmar, planned to upgrade to a similar battery system.The conversion to hybrid power for the Seacor Azteca, Seacor Warrior, and Seacor Viking is expected to be completed in July 2018.The lithium-ion-based energy storage systems (ESS) for all four vessels was agreed to be supplied by Corvus Energy while Kongsberg was contracted to deliver technology upgrades for the Azteca, Warrior, and Viking OSVs in late January. Under the contract, Kongsberg will deliver and install a hybrid power and DP upgrade on the vessels.Kongsberg was also contracted for the same work on the Seacor Maya in September 2017.
Image courtesy of QatargasQatar Petroleum has selected Japan’s Chiyoda Corporation to deliver front-end engineering and design (FEED) of the onshore facilities of the North Field expansion project. The facilities will produce additional 23 million tons of LNG per year, raising Qatar’s total production capacity from 77 million tons per annum to 100 mtpa, Qatar Petroleum said on Monday.Speaking of the award, Qatar Petroleum’s president and CEO, Saad Sherida Al-Kaabi said it was a major milestone that will enable the company to deliver the first LNG from the new project by the end of 2023.The FEED scope of work will provide the basic design for the addition of three 7.8 mtpa LNG production trains with associated pre-investment to add a fourth LNG train in the future, Qatar Petroleum said.The onshore facilities will receive approximately 4.6 billion standard cubic feet per day of feed gas from the southern sector of Qatar’s North Field, which is the largest single non-associated gas field in the world.The processing of the feed gas will also produce approximately 3,000 tons/day of ethane as feedstock to a petrochemical development in Qatar, 185,000 barrels/day of condensate, and 8,500 tons/day of LPG, in addition to approximately 12 tons per day of pure helium.Qatargas has been entrusted with executing this on behalf of Qatar Petroleum, the statement reads.
DeepOcean has been awarded a long-term contract involving subsea life of field services on Equinor operated fields.The award covers onshore project management, engineering and offshore operations utilising a variety of vessels within the DeepOcean fleet.Offshore operations may include life of field services such as standard inspectionand survey work involving use of work-class and observation-class ROVs, installation and replacement of subsea modules and x-mas trees using module handling systems as well as scale squeeze operations and installation of structures.The contract is call-off based and has a firm duration of 5 years, starting in January 2019.Rolf Ivar Sørdal, DeepOcean’s commercial director for Subsea Services said: “Realising the long term relationship DeepOcean has had with Equinor over the past years we are pleased that Equinor once again recognise DeepOcean as a quality supplier. “The introduction of new technologies and digitalisation is creating radical improvements within this business and our innovative attitude coupled with long experience and field knowledge will allow DeepOcean to offer exciting solutions to the subsea operations Equinor will require in the coming years.”
Mojo Maritime, a part of James Fisher Marine Services (JFMS), has, together with Ecole Centrale de Nantes, enabled Floatgen to supply energy to the French electrical grid from the SEM-REV marine energy test site, near Le Croisic in France.Ecole Centrale de Nantes and Mojo Maritime worked at the Floatgen floating wind turbine, which is one of the few prototypes installed in the world today, to replace a defective connection box which was preventing an electrical connection to marine energy converters.Ecole Centrale de Nantes installed the subsea connection hub, to which three demonstrators can connect simultaneously on the SEM-REV site two years ago.However, final validation checks on the connection revealed an insulation defect on one of the phases of the 25 km long underwater cable, which had to be repaired to ensure it wouldn’t jeopardize future projects and was ready to supply energy to the French electrical grid.The Ariadne offshore construction vessel was chartered for the task. The 8MW electrical connection is now operational and will start supplying its first kWhs this summer, the company noted.Mojo Maritime France project manager, Maxime Morandeau, said: “It’s been an absolute pleasure to work with Ecole Centrale de Nantes on this project. To optimize operations we used Mermaid for accurate modelling and scenario planning, which reduces the risk of any unexpected situations or costs, and meant that the project was completed according to plan.”