First-time buyers ready for restoration dream

first_imgThe home at 38 Hunter St, Wooloowin.IT was a case of the first home buyer beating the developer for a change when a house in Wooloowin sold under the hammer recently.The two-bedroom home on an elevated 728sq m block at 38 Hunter St had been in the same family for eight decades before selling to a young couple for $890,500.Amanda Butler, of Butler and Co Estate Agents, said the buyers planned to restore the 1936 house and make it their dream family home.“The seller was happy about that,” she said.“It was very emotional for the seller but the time was right to move on.”More from newsFor under $10m you can buy a luxurious home with a two-lane bowling alley5 Apr 2017Military and railway history come together on bush block24 Apr 2019The auction attracted five registered bidders — a mix of developers and first home buyers.Ms Butler said developers had been keen on buying subject to conditions, but the auction format suited the young first-time buyers the best.The home had been marketed as an opportunity to either renovate or develop, given its zoning and proximity to schools, public transport and local amenities.It comes with all the original features you would expect from a property of that era, including ornate ceilings and dark hardwood floorboards.The large back deck offers views across the suburb and the range.Ms Butler said Wooloowin was a high-demand market given its location, just 6km from the CBD.According to data from CoreLogic, Wooloowin has a median house price of $735,500 and a median unit price of $479,000.last_img read more

Institutions urge action by food companies on water management

first_imgThe largest asset owner signatory, the $191.4bn California State Teachers’ Retirement System (CalSTRS), said that water management could have a “material impact” on portfolio value.Referencing the ongoing drought hitting the western US, the fund’s director of corporate governance, Anne Sheehan, said: “In California, we are keenly aware of how water scarcity can impact lives and businesses, as our state struggles to manage a depleting water supply.”Hervé Guez, director of research at asset management signatory Mirova added: “Better disclosure of water risks is the first step, but ultimately we’d like to see the companies in our portfolios moving from risk to opportunity with innovative water management strategies.”Water management has gradually risen in prominence as a matter to be tackled by institutions. Sweden’s AP4 in July tendered a water scarcity equity mandate.Additionally, investors including the Norwegian Government Pension Fund Global and the California Public Employees’ Retirement System have previously spoken of the advantages of greater transparency over water management, and asset owners have been urged to set a more proactive tone when engaging over water risk.Read more about why asset owners should monitor water risk,WebsitesWe are not responsible for the content of external sitesLink to letter organised by US Interfaith Center on Corporate Responsibility Investors worth $2.6trn (€2.3trn) are urging over a dozen of the world’s largest food companies to better assess risks associated with water management, stemming both from direct operations and supply chains.Backed by 60 institutions, including the £5bn (€6bn) Northern Ireland Local Government Officers’ Superannuation Committee (NILGOSC) and BT Pension Scheme-owned Hermes Investment Management, the letter urged companies to tackle the risks it argued were having a “profound near-term business impacts”.It added that the risks could increase capital expenditure and operating costs, thus putting future revenue at risk.As a result, it asked for the firms – including Kraft Heinz, Fresh Del Monte Produce and drinks manufacturer Dr Pepper Snapple – to disclose if the board was responsible for water management and what steps were taken to monitor the water usage of suppliers.last_img read more