Wednesday people roundup

first_imgTowers Watson – Edouard Stucki is to leave the Swiss arm of the global consultancy after more than a decade as a senior investment consultant. Stucki said he was planning to move onto new challenges, in what would be a “new phase” in his career. In other news, Jo Kite has been appointed as the firm’s head of pensions and benefits for its Scotland practice. Kite joins from Scottish insurer Standard Life, where she was director of workplace proposition, and brings further experience from Aviva and Delta Lloyd.La Française – Guillaume Dhamelincourt is to join the French asset manager as head of sales for Asia, moving to the position from minor subsidiary firm JK Capital Management. Dhamelincourt joined JK Capital Management in 2011 and will step into his new role based from its offices in Hong Kong. He comes with experience as investment director at InfraRed Capital Partners in London.Hermes Fund Managers – Jennifer Stillman has been appointed director of consultant relations. She joins from Nightscape Capital, where she was head of business development.  She has also previously held roles with Caliburn Capital, Man Investments, PanAgora Asset Management and Clay Finlay. Investec Asset Management – Investec has further expanded its European Client Group with the opening of an Italian office, following the hire of Marco Orsi as Italian sales director. Orsi joins Sarah Pastore, Italian sales manager, in focusing on the Italian market.AMP Capital – AMP has made a number of senior appointments to its global infrastructure debt team in London. Emma Haight joins the team as director from NIBC Bank, where she was vice-president in the Project Finance division. James Fox is joining at the end of April as associate director. He previously worked in the finance team at British Land. PMT, bfinance, USS, Pensions Regulator, Towers Watson, La Française, Hermes Fund Managers, Investec Asset Management, AMP CapitalPMT – The €48bn metal scheme PMT has appointed Joep Schouten and John Spruit on its board as pensioner representatives. Schouten had been nominated by the association of pensioners. He is a veteran in the pensions industry, having worked 37 years for the pensions provider for the building sector (the Sociaal Fonds voor de Bouwnijverheid, renamed Cordares), 13 years of which he served as chief executive. Spruit represents the unions. He has been a pensions specialist at provider Syntrus Achmea between 2000 and 2007 and has been a board member at six other pension funds since then.bfinance – The investment consultancy has Emily Porter-Lynch as a director in the Investment Advisory. Prior to joining bfinance, she was a senior investment manager at the Universities Superannuation Scheme (USS), where she helped oversee a multi-billion dollar allocation to hedge fund strategies. Prior to joining USS, she was an investment director at Key Asset Management.Pensions Regulator (TPR) – The UK government has named the new chairman of the Pensions Regulator, appointing a former banker as successor to Michael O’Higgins. Mark Boyle will assume the role from April. The incoming chairman is currently independent non-executive chairman of the UK Land Registry and has worked at Lloyds Bank and Kleinwort Benson.last_img read more

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UK roundup: HSBC Pension Scheme, Fidelity, UK Treasury

first_imgThe HSBC UK Pension Scheme is to transfer £1.8bn (€2.3bn) of defined contribution (DC) assets to Fidelity, moving it from the bank’s own business.HSBC said Fidelity UK would offer investment-only services to members, with consultancy Towers Watson retaining control over administration.The scheme was previously managed by HSBC Life, a subsidiary of HSBC Holdings, but is currently in the process of being sold.HSBC Life offered corporate and individual pensions, as well as annuities. However, in June this year, it was announced the bank was selling its life business to Admin Re Group, part of the Swiss Re business.As part of the deal, Admin Re will take over £4.2bn of assets, most of which was also managed by the banking group’s asset management business.The pension scheme’s decision to move to Fidelity comes as the sale of HSBC Life awaits regulatory approval.In other news, the UK government has announced further changes to the treatment of DC savings in the tax system.Under the banner of the government’s flagship pension reforms announced in this year’s Budget, chancellor George Osborne scrapped the 55% tax charge of DC pensions after the death of the member.Under the old system, a 55% charge was made when a member left their DC pot as a lump-sum, or when it was already in drawdown, or left untouched and the deceased member was over 74.However, under the reform from April 2015, anyone who dies under the age of 75 can pass on DC savings completely tax free, as long as it has not been converted into an annuity.Those over 75 can pass on DC savings tax free when in drawdown, but will still face a 45% charge for a lump-sum.last_img read more

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UK defined benefit pension funds return 11% in 2014 – State Street

first_imgSSIA said a combination of disinvestment throughout the year, and underperformance relative to bonds, saw the average fund exposure to equities reach its lowest level ever, at 43%.Corporate pension schemes now hold an average of only 34% of their assets in equities, while local authority pension schemes still hold a commitment of just over 60% to shares.The commentary accompanying the figures said 2014 had been quite challenging for UK institutional investors, despite a generally improving global outlook.It said: “The year got off to a bumpy start, and equity markets stalled as concerns increased around the impact of conflict in the Middle East and Ukraine.“Conversely, bond markets performed steadily in the first part of the year before surging ahead in August, as increasing concerns about geopolitical risk, combined with the Bank of England’s reiteration that interest rates were to remain low for the foreseeable future, made UK Gilts particularly attractive for investors.”During 2014, UK index-linked bonds returned 20%, exceptional in a period where inflation appeared to be falling.UK Gilts also had an outstanding year, with the average fund returning 18% in this sector, well ahead of the FTSE All Stocks Index.This performance reflects the relatively high weighting among pension funds of longer-dated Gilts.The FTSE 15-Year Index returned a “remarkable” 26%.However, while the strong results from bonds were positive for the asset valuations of pension funds, they had the opposite effect on liabilities, as yields fell by almost one-third from this time last year.A late rally in 2014 meant UK equities just managed to produce a positive return of 1% for the year.Investor concern around contagion from the struggling euro-zone, coupled with uncertainty over the coming general election, reduced their appeal for investors.International equities, which now represent a higher proportion of the overall equity allocation of the average UK pension fund, performed substantially better, but, regionally, results varied.The US – which makes up 60% of most global equity allocations – performed very strongly.Markets reacted well to improved economic data and the development of fracking, which could see the US become self-sufficient in energy.The 19% return to sterling for the year also included a favourable dollar appreciation of 6% against sterling.Meanwhile, European equities were flat in 2014, with UK investors seeing a small negative return because of sterling’s continued appreciation against the euro.According to SSIA, most of the UK funds prefer to access equity markets on an active basis – i.e. seeking to outperform market indices, which they did on an overall basis over the year.In the UK, however, after four consecutive years of quite marked outperformance relative to the UK All-Share Index, the average fund tracked in line with the index return during 2014.Exposure to alternative assets remained broadly static at around 10% of the average fund portfolio, but SSIA said the mix was slowly changing, with infrastructure and diversified growth (multi-asset) products gaining traction.Turning to the property sector, the recovery that began in 2010 continued, with a 16% return for 2014.Property now makes up around 7.5% of the average fund, close to its highest-ever level, and three-quarters of all funds now have exposure to this asset. The UK’s defined benefit (DB) pension schemes returned an average of 11% in 2014, with the best-performing funds having a relatively high bond exposure, according to figures from State Street Investment Analytics (SSIA).Preliminary estimates for the SSIA UK Defined Benefit Pension Fund Universe suggest a third consecutive strong year in terms of asset performance.Jeanette Patrizio, senior vice-president at SSIA, said: “This latest year of positive results brings the five-year performance for UK pension funds to 9% per annum and the 10-year to 8% per annum, comfortably exceeding most actuaries’ assumptions for asset growth.”The universe is made up of 200 pension funds with aggregate assets of £510bn (€670bn), all of which use State Street services in some way.                                                                                                                                                                                                                              However, while a high equity allocation proved beneficial in the previous two years, during 2014 it was bonds that performed best.last_img read more

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Dutch roundup: Major firms develop emission measurement method

first_imgTwelve Dutch financial institutions – including the large asset managers APG, PGGM and MN – have developed a method for measuring carbon emissions from equities, government bonds and other asset classes.The players – members of the Platform Carbon Accounting Financials (PCAF) – have targeted a uniform approach for setting and measuring carbon reduction goals. PCAF was set up two years ago, in the wake of the Paris Climate Agreement.The PCAF’s main aim was to establish the CO2 impact from emissions of companies, suppliers and products. It said a worldwide standard for measuring the carbon footprint for several asset classes did not exist yet.In PCAF’s report – presented last week to coincide with the two-year anniversary of the Paris deal – the measuring model has been expanded to cover government bonds, listed equity, project financing, mortgages, real estate and corporate financing. The method involves proportionally assigning a company’s carbon emissions to investors, for example, making a 1% stakeholder responsible for 1% of a company’s carbon footprint.Carbon data are usually supplied by the companies themselves or by specialised firms such as Sustainalytics or Trucost, according to PCAF.It said members would continue their co-operation through sharing their experiences, discussing dilemmas and improving the measuring instruments.The organisation is affiliated with the Platform for Sustainable Financing, established in 2016 and chaired by supervisor De Nederlandsche Bank (DNB).Most schemes still to develop climate change policies, survey findsDespite this progress, many Dutch pension funds still haven’t developed a formal policy on climate change, according to a survey by the Association of Investors for Sustainable Development (VBDO) and AXA Investment Managers.VBDO and AXA examined 38 large pension funds and found that 58% of the schemes lacked a policy aimed at mitigating climate change, or aligning their investment portfolio with the goal of limiting global warming to 2ºC above pre-industrial levels.No more than 16% of the schemes had set a quantitative goal for the reduction of carbon emissions, which was usually limited to listed equity, it said.Several surveyed pension funds indicated that they wanted to gather more data first.The report concluded that pension funds have not yet found a way to fundamentally address climate change through investment policy.However, it said that 61% applied the trial-and-error approach through engagement, while one-third of the surveyed schemes were discussing the subject with their asset managers.One-quarter of the schemes said they excluded companies from their portfolio because of links to climate change causes. Another quarter said they had earmarked investments, such as solar and wind power, to counter climate change.In an interview in the report, the €19bn SPF Beheer – the asset manager for the railways scheme SPF and the public transport scheme SPOV – emphasised the importance of transparency and quality data for formulating a sound policy.“Many things aren’t measurable, and many small companies are doing the right things, but we are unable to see it,” the asset manager said.SPF Beheer indicated that, on one hand, it couldn’t keep on waiting for perfect data, but on the other hand its clients wanted to wait for a carbon analysis for their entire investment portfolio before developing a climate policy.SPF Beheer’s experience fitted with a trend observed by the report, as a majority of the schemes questioned had usually analysed the carbon footprint for no more than half of their investment portfolio, focusing on equity and real estate.In three-quarters of cases, the outcome of the analysis had not been made public, according to the report. VBDO and AXA said such transparency was crucial for gathering data.last_img read more

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Challenges remain for PPF despite funding improvements

first_imgThe UK’s lifeboat for bankrupt company pension schemes faces challenges ahead, despite improvements in funding levels over the past year, the institution has said.Following the publication of its annual Purple Book yesterday, the Pension Protection Fund (PPF) said the aggregate funding level across more than 5,000 had reached 95.7% in March 2018, up from 90.5% the previous year.Andy McKinnon, chief financial officer at the PPF, said “almost exactly half” of the improvements had been driven by market movements, including improvements in gilt yields that had pulled down liabilities, but also surging stock markets that had lifted investment portfolios.Improvements to the data gathered from schemes also helped define how funding levels have increased, said McKinnon. This data included employer cash injections and asset allocation changes. Andy McKinnon, chief financial officer, PPFHowever, he warned that there were still 3,188 schemes in deficit – equivalent to more than half in the UK – the impact of which was “close to £115bn” (€129bn).“We have seen some improvement in scheme funding,” said McKinnon, “but it is still the case that there is a lot of risk remaining in the universe.”Asset allocationThe Purple Book showed that, despite a significant proportion of schemes being underfunded, investment portfolios had been increasingly dialling back risk.The percentage of equities held in portfolios was just 27%, down from 29% a year earlier, with UK stocks falling out of favour. Within equity portfolios, UK schemes held just 19% in domestic equities, down from just under 50% in 2008, with around 70% held in global securities. Privately listed equities made up around 11% of this asset class.Just 5% of UK pension investment portfolios were held in domestic equities in 2018, down from more than a quarter a decade ago.Meanwhile, over the past year, schemes increased their allocations index-linked bonds – 44.5% to 47.1% – and turned away from regular corporate debt markets – 31.4% to 28.8%. Overall fixed income holdings made up just under 60% of aggregate portfolios.McKinnon said pension schemes held on aggregate a 7% allocation to hedge funds in their portfolios this year, compared to a 1% holding across the universe in 2006.Over the 12 months to the end of June 2018, the PPF said there had been £22bn worth of risk-transfer deals, including longevity swaps, buyouts and buy-ins, up from £16bn the previous year, “but nevertheless a relatively small amount in the context of the whole universe of schemes”.At the end of March , the PPF managed £30bn and had more than 236,000 members. It was 112.8% funded at that point. McKinnon added that the PPF had made changes to liability assumptions in the summer, which had also improved funding levels.last_img read more

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Susan Martin exits Local Pensions Partnership

first_imgSusan MartinMichael O’Higgins, chair of LPP, said: “We’d like to thank Susan for her significant contribution to the establishment and success of LPP and wish her the very best for the future.”Martin was one of the leading architects of LPP, one of eight investment pooling vehicles created by UK local government pension schemes (LGPS). It also provides administration services to several other LGPS funds.LPP combined LPFA and the Lancashire County Pension Fund, with the Berkshire Pension Fund officially joining last year.Further readingLGPS pooling: Funds under pressure to comply About 30% of assets have been absorbed by the new LGPS pools LPP’s chief investment officer Chris Rule has been appointed interim CEO. Rule also previously worked for LPFA prior to the creation of LPP. Susan Martin, chief executive of local authority consolidation group Local Pensions Partnership (LPP), has resigned from her role.In a statement this morning, LPP said Martin left the £17bn (€19.8bn) company yesterday.Martin led LPP for three years, and was previously CEO at the London Pensions Fund Authority (LPFA), one of the founder shareholders of LPP. According to her LinkedIn page, Martin plans to take up a portfolio career “combining coaching, consultancy and non-executive roles”.last_img read more

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Germany green bond-linked spending spans real, intangible assets

first_imgThe German government has published the framework for forthcoming green bonds from the sovereign, identifying real and intangible assets as eligible targets of expenditure to which proceeds are allocated. According to a report issued by the finance agency on Monday, the spending associated with the green bonds will be in five main sectors: transport; international cooperation; research, innovation and awareness-raising; energy and industry; and agriculture, forestry and natural landscapes. Examples of eligible expenditures include grants for maintenance or development of rail infrastructure for freight and passenger transportation, financing electric mobility and recycling of materials, especially batteries, according to the agency’s framework.Expenditure on armaments, defence, tobacco, alcohol, gambling, and any activity that is principally based on, or related to, fossil fuels, including coal, or nuclear energy, is excluded, the report stated. Germany also plans to assist emerging markets and developing countries in their efforts to transition towards a more environmentally-friendly economy.“I would like to see a green master plan from the federal government and a clear analysis of what kind of transformation we need in which sectors,” said Silke Stremlau, member of the management board at pension provider Hannoversche Kassen.She believes that agriculture, food and the entire consumer industry would need to be taken into account for sustainable investments alongside transport, mobility and energy.Under the government’s green bond framework, securities issued will always be assigned to expenditures in the preceding budget year. More than €12.7bn has been classified as green expenditure in the 2019 budget according to the framework criteria.Final associated expenditures will be presented in allocation reports, the first of which is due to be published next year. Reporting on the impact of green expenditures is also foreseen.“Our innovative ‘twin bond’ approach is designed to act as a catalyst, channelling more investments into a greener economy”Jörg Kukies, state secretary at the federal ministry of financeJörg Kukies, state secretary at the federal ministry of finance, said: “From now on, the German government will issue green federal bonds every year.“Our innovative ‘twin bond’ approach is designed to attract new investors and issuers to the green bond market and thus act as a catalyst, channelling more investments into a greener economy.”The government will issue ‘twin bonds’, green bonds and conventional bonds, with a 10-year maturity and an identical coupon of 0%.It expects to issue between €8bn-12bn in green federal bonds this year. The first issue is planned for September, as the twin of a 10-year bond sold in June.Although green bonds will always be issued as a counterpart to a conventional security, the finance agency has said the issuance volumes will be different, with conventional bonds being placed at a significantly larger volume than the green twin.  Future plansGermany plans to radically change its energy system from nuclear and fossil fuels towards renewable energy sources. It has set a goal to reach 80-95% reduction in greenhouse gas emissions by 2050 compared with 1990 levels. It has committed to phase out coal-fired power generation by 2038 at the latest, at the same time expanding the share of renewable energies in gross electricity consumption to 65% by 2030.It has said it would  provide investors with transparent reporting on the allocation of proceeds and their impact through reports for each green sector.Stremlau said Germany will reinforce its position internationally as a location for sustainable finance, with a green investment programme paired with financial solidity.Green bonds will most likely find buyers, she added, but for Hannoversche Kassen a 0% coupon is “absolutely unattractive” and it will not purchase the green bonds.“I understand that the government issues a 0% coupon due to the [current] market situation, but I would like something different for the future,” she said.The German government has said it plans to establish a green yield curve for the euro area, with the same maturities as on the conventional curve.“Market participants with different investment horizons will have at their disposal a green, transparent investment opportunity with first-class credit quality,” it said. To read the digital edition of IPE’s latest magazine click here.last_img read more

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SA hotelier couple list luxury Gold Coast mansion for more than $4m

first_img133 Commodore Drive, Paradise Waters.A South Australian hotelier couple have listed their grand Surfers Paradise mansion on the market with a multimillion-dollar price tag.Peter and Jenny Hurley want $4.75 million for their European-inspired Commodore Drive property overlooking main river.It has been a holiday home for the couple since they bought it for $4 million in 2003 from freight tycoon Clive Thomas and his wife. 133 Commodore Drive, Paradise Waters.Mr Hurley established the Hurley Hotel Group after leaving a teaching career to buy the Wudinna Hotel in 1975.More than 40 years later, he and his wife operate 10 hotels across South Australia and hold shares in two others.Other significant investments under the Hurley group include the Arkaba Village Shopping Centre and Surrey Downs Shopping Centre, both in South Australia. 133 Commodore Drive, Paradise Waters. More from news02:37International architect Desmond Brooks selling luxury beach villa15 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag2 days ago133 Commodore Drive, Paradise Waters.A sweeping staircase under a domed ceiling, formal lounge with wet bar, infinity edge pool and private courtyard are among the four-bedroom, four bathroom home’s standout features.It is understood the Hurleys are selling the property because they have bought another on the Gold Coast.Kollosche Prestige agents Michael Kollosche and Duncan Longmore are marketing the property.Mr Kollosche declined to make comment on the owners but said the home was “beautiful”.“It’s a great home and in a fantastic location,” he said. 133 Commodore Drive, Paradise Waters.last_img read more

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Old meets new in grand reno

first_img47 Hazelmere Parade, SherwoodA LANDMARK house in Sherwood that dates back to 1933 has been completely restored, and given a modern makeover by one of Brisbane’s leading architects.The heritage-listed English-style red brick residence, known as The Terrace, sits on a 2499sq m block. Built in 1933, and restored by architect Shaun Lockyer, 47 Hazelmere Parade at Sherwood is now on the marketThree years later, renowned architect Shaun Lockyer was engaged to extend the home, and reclaim some of the residence’s original features. A new “living pavilion” was added to the house, but Mr Lockyer said the focus was to make the new extension “speak with the older part of the house” without trying to mimic the original features.He said they also painstakingly “unpicked” the historically significant, older parts of the house to expose the brickwork and other features that had been hidden away. “The (original) house has a 45 degree terracotta roof which, as I understand it, is one of only three in Brisbane,” Mr Lockyer said. “When we did the pavilion extension, we mirrored that and used red brick.“We didn’t want to mimic the old house features, but rather preserve the existing fabrics of the house and then compliment them with the more modern additions.”And the results speak volumes. 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 On the lower level, an area being marketed as “undoubtedly Brisbane’s best rumpus room” can be reconfigured to suit the needs of the buyer, and comes with exposed brick walls, timber bench seating and polished concrete floors. MORE: QUEENSLAND PROPERTIES HOTTER THAN THE HEATWAVE A fourth bedroom and the master suite with walk-in wardrobe, ensuite, striking timber feature wall, underfloor heating and window bench seat overlooking the gardens is also in this north positioned extension. MORE: THE BEST BEACH HOUSE IN AUSTRALIA IS UP FOR GRABS Hedges line the line white fence that leads to this storybook property, which opens in to a foyer.To the left of the foyer there is a library, office, a sitting with fireplace, a dining room, media room, two bedrooms and a bathroom. Decorative ceilings, leadlight windows and two original brick fireplaces are just some of the heritage features retained in the property. Turn right from the foyer and you find yourself in a stunning kitchen with scullery that leads in to a family room that opens on to a modern terrace with a day bed. Architect Shaun Lockyer. Photo AAP/ Ric FrearsonIt was one of the architect’s most challenging projects, and took three years to complete.“It was a very special, heritage-listed house to begin with,” Mr Lockyer said. “The whole job was challenging but the results speak for themselves.“It was equal to the best quality of work we have ever done.” Also on this level is a fifth bedroom, a bathroom, kitchenette, laundry, two terraces, and a huge undercroft.Outside, there is 2499sq m of landscaped gardens and freshly turfed lawns, a full size championship tennis court with floodlights, an 18m pool with Sunbather Downunder in-deck built-in thermal pool cover and 5m retractable umbrella and a central pavilion with its own outdoor kitchen. Other features property include full ducted airconditioning, a state-of-the-art security system, 60,000L hidden underground water tank, wine cellar, storage rooms and workshop. Mr Lockyer said the house was beautiful before the restoration and extension, and he would hope it would now survive another 85-plus years. “I would hope they are still talking about it long after I am gone,” he said. “I know that every time I go there I have a moment.”The property is listed with Jason Adcock of Adcock Prestige, with expressions of interest closing at 5pm on December 18.last_img read more

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Landmark Tamborine Mountain estate hits the market

first_imgMs Brushe said it has now been completely renovated to offer modern-day living, yet it still pays homage to its heritage. “It was all done with modern material but done in keeping with the era it was built in,” she said. “The property faces north so the pool, breakfast room and main lounge room are drenched in sun most of the morning.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“The right side of the house where the other living areas are face east and have beautiful Gold Coast views.” The five-bedroom, five-bathroom estate has an asking price above $1.6 million. Scenic Road Properties agent Bernadette Brushe said it was one of the first guesthouses built in the area. “The property was built in 1928 and built by the same builder as St Bernards, which is one of the most historic hotels on the mountain,” Ms Brushe said. “During the Second World War it was taken over by the American army, which a lot of properties were as the base camp was down the road.“They took the guesthouse over and used it as a base and had a lot of men staying there.” MORE NEWS: Dated Mermaid Beach house sells under the hammer for premium price MORE NEWS: Broadbeach Waters award-winning house has see-through facade, indoor tree Prices start at $160 per night. The property is currently being run as a bed and breakfast and wedding venue known as Eaglemount Lodge. Prices start at $160 for a terrace or pool view room and go up to $360 per night for king garden view room. The property is currently run as a bed and breakfast. center_img “Over the years it has always continued to run a guesthouse, or a B&B as we know them now, or a residence,” Ms Brushe said. “It’s a really versatile property, the owners are happy to sell it as a residence or B&B.” “Everything is at your doorstep, you can throw away the car keys and never have to drive again.” Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 0:58Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:58 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD432p432p216p216p180p180pAutoA, 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 much do I need to retire?00:58 147 Eagle Heights Rd, Tamborine Mountain, has hit the market. The owners of a landmark estate in the Gold Coast Hinterland are seeking a new innkeeper. Eaglemount Lodge, a 1920s Tudor-style guesthouse, has hit the market offering buyers the chance to own a piece of Tamborine Mountain history. The grounds of the estate have also been used as a wedding venue. The owners, who have lived at the picturesque property for almost 12 years, are selling to downsize.The five-bedroom, five-bathroom property at 147 Eagle Heights Rd, Tamborine Mountain, has an asking price above $1.6 million.last_img read more

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