Rural riches in little known suburb

first_imgThe Newman’s have just sold their property for $920,000 after buying it six years ago for $570,000. They say even though the property market is tough there is still money to be made. They also reckon Toonpan which offers a semi-rural lifestyle is Townsville’s best kept secret. This is Sharee Newman on the property.THE Newman family’s Toonpan home has become a property success story, selling for $920,000 after they purchased it five years ago for $572,000.Sharee Newman, who lives at 242 Mountview Dve with her husband and two children, says the sale is proof there is still money to be made in Townsville’s downtrodden property market.The family gutted the five-bedroom home during a five-month renovation to create a picture perfect homestead sitting in pride of place on 26ha.Even after completing a six-figure renovation, Mrs Newman said they had come away with a healthy profit.“When we bought it in 2012, it was a bit of a mess and they had renters here at the time,” she said.“It was on the market for a long time and we came back to look at it again and the renters had gone and they had cleaned it out but there was still a lot of water damage. “I was pregnant at the time and I just thought, ‘I can’t do this’, but the previous owners had all the right infrastructure in place so we went ahead and bought it.”The property was sold to a Townsville family with three children who want to be able to enjoy a rural lifestyle. Mrs Newman said well-maintained acreage properties were a rarity in Townsville and she felt that was why it sold for such a high price.“I noticed in Townsville that you don’t see a lot of acreage properties of this size where it’s tidy inside and out and I think there is a real lack of these properties in the market,” she said.“We had overseas interest, interstate interest and the rest was locals.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 2020“We’ve kept it well maintained and that’s what really attracted people and within three weeks we had an offer.”The home has a large undercover entertaining area and a six-bay shed, while there is also a dam, bore water, rainwater tank and a pet pig that will be given to the new owners. The dam has been stocked with barramundi and there is a bridge leading to an ­island in the centre of the dam.She said the home had been a rural paradise and they were sad to be leaving to relocate to Victoria. “We get turtles out of the dam that crawl up to the house, we catch barra out of the dam and you get kangaroos hopping about the place,” she said.“The bird life is amazing and you get storks that are as tall as me and they are like a jumbo jet when they fly in. It’s a great home for kids.”The southern suburb of Toonpan is arguably Townsville’s best-kept secret. It offers a rural lifestyle, large lots, mountain views and tranquillity. The suburb, off the Flinders Highway, mainly hosts owner-occupiers and properties rarely come up for sale.McGrath agent Karyn Voevodin, who sold the property, said the price was a reflection of the limited amount of quality acreage on the market.“I’ve got a number of buyers who are still looking for something similar,” she said.last_img read more

Local authority funds cash-flow positive ‘due to investment return’ – report

first_imgLocal authority funds in England and Wales remain cash-flow positive, largely due to returns from investments, a report has shown.The Local Government Pension Scheme (LGPS) Advisory Board, set up by the government to monitor the performance of the English and Welsh funds, published the first annual report covering all of the nearly 90 schemes in the two countries.The report showed that the average funding ratio for the 2012-13 financial year stood at 79% across the schemes, with total assets of £180bn (€213bn) compared with liabilities in excess of £227bn.It also found that schemes received £12bn in income over the course of the year, exceeding the £9.2bn in benefit payments made during the same period. However, last financial year’s contributions only stood at £8.3bn, leaving investment returns of £3.1bn to prevent the system from becoming cash-flow negative.Kris Hopkins, the junior minister at the Department for Communities and Local Government responsible for the LGPS, welcomed the report’s publication.“By bringing together the data from all English and Welsh funds, the Shadow Scheme Advisory Board has helped usher in a new standard of transparency for scheme members, employers and taxpayers alike,” he said.“This will also provide a comprehensive and clear reference document for the scheme as a whole.”According to the report, the funds invested the largest amount of their assets, £73.5bn, in pooled investment vehicles, without offering a breakdown of what underlying assets these held.It added that a further 38% of assets were invested in standalone UK or overseas equity mandates, and £17bn in fixed income.The remaining £10.5bn were invested, directly or indirectly, in property and the final £9.8bn in undefined ‘other’ assets.In his remarks, Hopkins stressed the importance of the sustainability and affordability of the LGPS, shortly after the funds switched to a career-average, rather than final salary, approach for future pension accrual.His department is currently mulling how to cut costs among the local authority funds, with a ban on active investing considered.For more on the debate between active versus passive, see the active management Special Report in the current issue of IPE,WebsitesWe are not responsible for the content of external sitesLink to the LGPS Advisory Board’s first scheme annual reportlast_img read more

Lakers coach Luke Walton not impressed by all of young players’ talents

first_img Newsroom GuidelinesNews TipsContact UsReport an Error “They were mocking my accent the entire time,” Zubac said, shaking his head. “I knew the lyrics. But it’s hard to pronounce some of the words. The song is so rhythmic and quick.”Hence, Walton considered Auguste “the leader of the group.” An informal poll among the team suggested that Ingram finished last.“I had a fun time,” Ingram said. “It showed another personality people didn’t know about me.”Zubac did not sound as enthusiastic. He asked Lakers veteran guard Lou Williams to pick a song in Croatian. But Williams answered, “I don’t speak Croatian.” Zubac then asked the DJ to stop the song after 30 seconds of performing.“Worst part of being Laker,” Zubac said as he stared at the ground.Walton could feel Zubac’s pain.After the Lakers selected Walton 32nd overall in the 2003 NBA draft, Shaquille O’Neal, Kobe Bryant, Derek Fisher and Rick Fox forced Walton to perform endless rookie duties that apparently has caused long-lasting damage. What did Walton have to do?“No comment,” Walton said, smirking. “I’ve seen a shrink about it. I’ve had to block that out of my life.”Foul playRandle may have showed off his brute strength in Friday’s practice when he won an informal one-on-one tournament against Nance, Zubac and Ingram. But Randle also absorbed a hit to his mouth that made him bleed.Randle did not need stitches, but that left Walton wondering why the NBA-sanctioned officials kept their whistles quiet.“We told them we don’t want to call ticky-tack fouls. But I think they missed that one,” Walton said. “When another guy is bleeding, it’s normally a good sign that he got fouled.”The Lakers have used referees to officiate their scrimmages since training camp started for a specific reason.“A huge emphasis for us is not fouling,” Walton said. “We don’t want to be a team that sends the other team to the free throw line. If we actually have refs here, we can focus on the coaching and doing things right.”Former Lakers coach Phil Jackson occasionally abstained from calling fouls in scrimmages to train his players how to handle their emotions. Will Walton adopt his former coach’s tactic?“No. We’re a ways out from that,” Walton said. “Right now we’re just trying to get the foundation set.” It turns out those players struggled with issues far more glaring than adapting to a more physical NBA or a new playbook.Ingram dressed up in a dog costume and admittedly forgot some of the lyrics.“I didn’t know the words,” Ingram said. “I sang the hook the whole time.”Zubac did not just struggle with performing Beyoncé’s song. The Croatian native sparked more unintentional comedy for obvious reasons.“Singing a song in a foreign language is impressive,” Nance Jr. told Zubac in front of reporters.center_img SANTA BARBARA >> The positive reinforcement has gushed out of Luke Walton’s mouth with frequency. Perhaps as much as when he saw Stephen Curry and Klay Thompson sink 3-pointers as a former Golden State assistant.The Lakers’ new head coach has praised his players’ efforts in training camp. He has expressed optimism about the development of the young core, which includes D’Angelo Russell, Julius Randle, Brandon Ingram, Jordan Clarkson and Larry Nance Jr. Walton has embraced the concept in empowering those players to become leaders.Walton did not offer any positive feedback, however, regarding his rookies’ singing performance in a talent show open to UCSB students on Thursday night. Then, Brandon Ingram (Rihanna’s “Diamonds”), Ivica Zubac (Beyoncé’s “Single Ladies”), Zach Auguste (Vanessa Carlton’s “A Thousand Miles”) and Julian Jacobs (Katy Perry’s “Roar”) all grabbed the microphone and performed something that would not prompt an invitation to “American Idol.”“I respected the effort,” Walton said after Friday’s practice at Robertson Gymnasium. “I was not impressed with the talent.”last_img read more