Drinks retailer brewing out-of-town schemes

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Sydneysiders being advised by their agents to invest their money in the Gold Coast

first_img1153/1 Lennie Ave, Main BeachMcGrath Surfers Paradise agent Craig Caughlan said the price differential was encouraging large numbers of Sydney and Melbourne investors to buy on the Coast, with four out of ten sales on the Gold Coast from interstate buyers. “About 80 per cent of interstate investors are buying units while homes are usually more popular for interstate buyers coming to settle down here,” Mr Caughlan said.“Sydney is getting to a point where buyers are having to go further and further out to the western suburbs.“Prices range from $1.5 million to $10 million anywhere close to the city but on the Gold Coast their cheapest is our most expensive and they find better value for their money here.” More from news02:37Purchasers snap up every residence in the $40 million Siarn Palm Beach North7 hours ago02:37International architect Desmond Brooks selling luxury beach villa1 day ago15/64 Penkivil Street, Bondi.But on the Gold Coast buyers can nab a beachfront unit off the plan at Palm Beach’s latest development, The Jefferson, for a mere $525,000. Real Estate — 1153/1 Lennie Ave, Main BeachA REMARKABLE three for the price of one deal has Sydney buyers piling into the Gold Coast real estate market.Southern agents are advising investors their money is better spent on the Coast, where the average price for a unit in Surfers Paradise is $370,000 compared $1.041 million at Bondi — almost three times the price. The courtyard of a two bedroom Sydney unit.Mr Caughlan said while Broadbeach and Surfers Paradise were the main targets for interstate investors, Hollywell, Labrador and Main Beach were becoming hot spots.“The vacancy rates are about two per cent, tenants want to rent closer to the water and transport so these units are always popular,” he said. “The biggest driver for interstate buyers is the return they make.” 60 The Jefferson at Palm Beach is located on the beachfrontProminent Sydney agent John McGrath, of McGrath Real Estate, who is on the Gold Cost to host the 20th annual Australasian Real Estate Conference, is among those advising clients to look north.“I am still sending them north, I think this is still the place to be,’’ Mr McGrath said.“I think the value for money is compelling — you can still buy properties here in some instances for a third or a quarter of the equivalent in Sydney.“In Sydney now we are selling for $800,000 or $900,000 one-bedroom units and I look at that and I think well, you can buy one for a third of the price of that on the Gold Coast in an equally beautiful location, or you could buy a house on a canal for a similar money.’’A glimpse at properties on the market at realestate.com.au proves Mr McGrath’s point.In the middle of Sydney a luxury apartment at 18/155 Macquarie St comes with an eye-watering price tag of $4.7 million to $4.8 million. The 214 sqm apartment comes with three bedrooms adorned with crystal louvres. Further north, a two-bedroom, one-bathroom unit at 7/134-138 Ocean St, Narrabeen is on offer for $1.1 million to $1.2 million. 3277 Surfers Paradise blvd, Surfers Paradise.For the same price as a small unit in Sydney, buyers can live in luxury on the Coast in a stunning unit at 1153/1 Lennie Ave, Main Beach on the market for $1.225 million. 60 The Jefferson, Palm Beach.In the heart of Surfers Paradise, a two-bedroom, two-bathroom unit at 3277 Surfers Paradise Blvd is also on the market for $489,000. 7/134-138 Ocean Street, Narrabeen.Head down to Bondi and a dozen blocks from the beach is a stylish unit at 15/64 Penkivil St with “ocean glimpses” will set you back $1.475 million. A Bondi apartment will set you back millions.Harcourts Coastal agent Tolemy Stevens said, in the past 12 months, almost 80 per cent of luxury property sales along the beachfront have been sold to Sydney or Melbourne buyers.“These buyers tend to be very astute and already own a substantial home or multiple investments within their own state and now believe it’s time to look outside of their booming markets for better value and the next best option is the Gold Coast,” Mr Stevens said. “With the Commonwealth Games on the horizon and plenty of cranes in the sky, these buyers are aware that the Coast market is really hot.“They have a focus on absolute beachfront locations from Main Beach to Coolangatta as a safe bet over the next three to five years.”Mr Stevens said the appetite for luxury beachfront properties is currently at an highest and that demand is currently outweighing the supply.last_img read more

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Black Caps ready for Windies fightback

first_imgHAMILTON, New Zealand (CMC) – Despite a crushing win in the opening Test in Wellington, the Black Caps are not writing off a West Indies fightback, in the second and final Test starting here Saturday.The Caribbean side played poorly to lose by an innings and 67 runs inside four days, to fall 1-0 behind in the two-match series.However, head coach Mike Hesson said recent history suggested the Windies could be back stronger at Seddon Park, and stressed his side needed to be prepared for the backlash.“We’ve seen how well the West Indies have bounced back in previous series so we certainly expect them to do that,” he said.“History suggests they are (a threat). In England they got dealt a pretty severe blow in the first Test and then came back at Headingley and beat England.“We’re certainly expecting them to sustain pressure over a longer period of time.”West Indies showed their character against England last August, rebounding to stun the hosts by five wickets at Leeds just days after slumping to an embarrassing innings and 209-run loss inside three days at Edgbaston.The core of that same side has travelled for the current tour, with the likes of Kraigg Brathwaite, Shai Hope and Roston Chase all expected to suit up against for the second Test.At the Basin Reserve last week, West Indies showed glimpses of their quality, especially through Brathwaite, Shimron Hetmyer and seamer Kemar Roach, but Hesson said New Zealand had been able to stay patient.“I just think we sucked up West Indies pressure in those first couple of sessions. That was really important and it’s an area that we have to do well again in Hamilton,” he noted.Batsman Henry Nicholls agreed with Hesson’s assessment, pointing out that the Windies had bowled well up front, before the Kiwi batsmen got on top to pile up 520 for nine declared.When the visitors batted, especially in the second innings, Nicholls said they had also threatened at periods.“I felt they really bowled well for 80 or 90 overs. It felt we were under pressure the whole time,” said Nicholls.“And then with the nature of Test cricket, we were able to wear them down I guess at the back end of that last session – the guys did extremely well not just to build a partnership but the way they went about it and the scoring rate was impressive.”He added: “But I think we saw at times when they batted, the way they were able to put partnerships together both with bat and ball, the bat in the second innings with Kraigg and the number three (Hetmyer) and four (Hope) … It can turn pretty quickly in Test cricket.”West Indies will be without their captain, all-rounder Jason Holder, for the second Test after he was suspended Tuesday by the International Cricket Council for his second over-rate offence in 12 months.Under ICC regulations, the Windies were adjudged to be three overs short of their specified target during the first Test at the Basin Reserve.Each player was fined 30 per cent of his match fee while Holder, as captain, was fined double the amount and slapped with a one-game suspension.last_img read more

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