Month: May 2019


INXS house at Cottage Point up for grabs

At Cottage Point, INXS House – built by the former owner and INXS rock star Andrew Farriss – is for sale for between $6.8 million and $7.4 million.
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Farriss commissioned acclaimed architect Luigi Rosselli to design the striking waterfront residence after he bought the property in 1988 for $510,000.

Completed in 1991, Farriss sold it in 1996 for $1.715 million to retired CSR executive Peter Bowen and his wife Julianne, and the Bowens onsold it in 1999 for $2.3 million to pharma-biotech company EDB Group director Stephen Ell.

Ell has listed it with McGrath’s Michael Coombs. Acclaimed architect Luigi Rosselli designed the home. Photo: Supplied

Meanwhile the former manager of INXS Gary Grant and his partner, actor and ceramicist Joy Smithers, scored a bullish $1.3 million for their Botany home before this week’s scheduled auction through George Faris, of The Sydney Property Agency.

Records show the couple have bought another home with “redevelopment potential” on nearby William Street for $1.54 million. Tamarama record to be wreckedCraig and Kate Smith have spent $12.5 million on this Tamarama home. Photo: Supplied

Travelogic founder Craig Smith and his wife Kate have bought a $12.5 million knock-down-rebuild at Tamarama. Related: No mansions bought by foreigners this yearRelated: Mad Max actor cashes in on $1.3m saleRelated: Lowy buys beachfront neighbour for $14.2m

The purchase through McGrath’s Simon Exleton set a suburb high when it exchanged in July – topping the $11 million high of 2008 set by Built chairman Marco Rossi and his partner Stephanie Stokes – but that record won’t hold long. The property purchase has set a suburb record, but that record may not last long. Photo: Supplied

Fashion-industry veteran Robby Ingham and his wife Sarah are expected to pocket close to $13 million when DJ Annie Conley takes possession of their recently sold beachfront reserve residence later this year.

Meanwhile, given the rebuild plans for the Smith’s new home – which last traded in 1991 for $640,000 – they are expected to remain in their Bronte home. For now. White House deal sewn upThis Paddington landmark was bought by plastic surgeon Darryl Hodgkinson and his wife Katherine. Photo: Katherine Lu

Thanks to a caveat lodged on title this week, plastic surgeon Darryl Hodgkinson and his wife Katherine are revealed as the $5.3 million buyers of the Paddington home of radio presenter Phillip Adams.

Known as the White House in its latest campaign by Louisa Jackson of Langulin, the sale makes the Hodgkinsons the third owners of the home built in 1987 for adman John Nankervis. Hodgkinson and his wife Katherine paid $5.3 million for the property. Photo: Katherine Lu

The Hodgkinsons are best known for their $10 million sale a year ago of the Queen Anne property, Newstead, in Darling Point to the National Breast Cancer Foundation chief Professor Sarah Hosking.

Adams paid $960,000 for the Peter Stronach-designed residence with George Freedman interiors in 1990. Beauty pays off handsomelyIrene Falcone is looking to sell her Balgowlah Heights digs. Photo: James Brickwood

Irene Falcone and her husband police Senior Sergeant Tim Fairservice have done well from the natural beauty game in recent years, and have stepped up their real estate portfolio accordingly.

Falcone founded her online retailer Nourished Life in 2012 with $100 and has grown it into a company with an annual revenue of more than $20 million. Falcone and her husband police Senior Sergeant Tim Fairservice bought the property only last year. Photo: Supplied

Cue the sale of the Balgowlah Heights home they bought last year for $2.45 million to up-grade to a $7.1 million Clontarf house.

An auction on November 25 has been set for the couple’s former home in Balgowlah Heights through Kingsley Looker of Clarke & Humel. Mulhams on move from VaucluseClare and David Mulham are selling their Vaucluse residence through Sotheby’s International. Photo: Supplied

Expect to pay double digits for the Vaucluse home of David and Clare Mulham, of the Rich List Roche family.

A marketing campaign was kicked off this week by James McCowan and Michael Pallier of Sotheby’s International and reveals a renovation of recent years with Morrocan and African influences since the daughter of Bill and Imelda Roche bought it in 2008 for $9.6 million. Morrocan and African influences can be observed throughout the property. Photo: Supplied

The Coolong Road residence was previously owned by Ailsa and Patrick Crammond, managing director of Southern Cross Financial Advisers, who bought it in 1998 for $2.525 million from international arbitration lawyer Doug Jones, AO.

The listing coincides with talk from Bondi the couple are heading to the beach.

Still with the who’s who to the property’s paper trail, Jones bought the 880 square metre property in 1993 for $1.4 million from royal blueblood, the Hon John Dawson-Damer, who was selling up to move to the $6.15 million Rose Bay mansion he bought from Perth property tycoon John Bond. Paddington weekender soldJames Allsop AO has pocketed $2.235 million for his Paddington terrace. Photo: Wolter Peeters

Chief Justice of the Federal Court James Allsop, OA, has sold his Paddington terrace for $2.235 million.

Records show Di Grundy, of Bresic Whitney, had a $2.1 million bottom line when it was listed last month, raising the guide shortly before it sold.

The Underwood Street terrace was a weekender of sorts for the Melbourne-based legal luminary, who bought it three years ago for $1.48 million from Anne McWilliam, of the McWilliam wine family. Bondi pad listedDarryl Harford has listed his Bondi penthouse for $3.6 million. Photo: Supplied

Ipac Securities co-founder Darryl Harford, calls Tuscany home nowadays, prompting the sale of his Bondi penthouse for $3.6 million.

The three-bedroom house on oceanfront reserve was bought by in 1999 for $890,000 from Powerbox managing director Marc Rutty and his wife Helen, granddaughter of Sir Sydney Snow.

Goodyer Real Estate’s Rosalia Marasco has set a December 5 auction.

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Labor MP Justine Keay concedes High Court referral is ‘probably the only step’

A Labor politician embroiled in the national citizenship crisis has released documents in an effort to clear her name, but concedes being referred to the High Court may be “the only step” left to resolve the uncertainty.
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There have been doubts about the eligibility of Justine Keay, the Labor MP for the Tasmanian seat of Braddon, for several weeks but Prime Minister Malcolm Turnbull upped the ante on Wednesday by suggesting she may have to resign.

Ms Keay, who was a British citizen on the night of the election, is relying on the steps she took to renounce her dual citizenship to make her eligible for Parliament.

Labor MP Justine Keay during Question Time at Parliament House in Canberra. Photo: Alex Ellinghausen

In February 2016, the Labor Party’s legal division notified Ms Keay of the required steps to be eligible as a candidate – but it was not until the election was called in May she began the renunciation process.

The emotional MP teared-up when explaining why it took three months to renounce her British connection.

“I delayed it – it’s one of those things with the citizenship I knew I could never get it back,” she said.

“If I don’t get elected I can’t get my citizenship back and for me, it was a very personal thing.

“I try not to be upset about it but – it was that last tangible connection with my dad.”

She acknowledged the renunciation could have been done earlier, and the delay had created the cloud hanging over her head.

The date of Ms Keay’s renunciation took effect from July 11 – more than a week after the July 2 federal election, and well past the June 9 deadline by which candidates must declare to electoral authorities they are not dual citizens.

Despite taking steps to renounce her citizenship prior to the election, Ms Keay’s political opponents have seized on the confirmation she was British on election night.

“What’s frustrating is I have done everything possible and I have taken the constitutional requirements that I have very very seriously – you’ve got people like Barnaby Joyce and like Stephen Parry, possible Jacqui Lambie who have not even asked the question,” she said.

After the resignation of Mr Parry last week Ms Keay again sought legal advice about her own situation.

On Wednesday, Ray Finkelstein QC and Susan Gory advised she was eligible to sit as a member of the House of Representatives.

Ms Keay said there was no reason for her case to be tested in the High Court – but acknowledged it may be the only way to determine her fate.

“I would be incredibly confident of getting through that process,” she said.

“Part of me sort of thinks – that probably is the only step to really put an end to all this and completely clarify it.”

She was cautious about using the nation’s highest court as a testing ground and instead hoped universal disclosure in Parliament would finalise the fiasco.

“For me to go to the High Court and say, can you just test my case, but I have no grounds for you do so, is pretty stupid,” she said.

“Should the government decide to act in a partisan way and do that, that’s for them to determine.

“If they want to try to take out me on the way through their crisis – so be it, I’ll deal with that.”

Mr Turnbull on Thursday threatened to break with longstanding precedent and use the government’s slim majority to refer any Labor MPs under a citizenship cloud to the High Court.

The Coalition has until now staunchly insisted that any High Court referrals must be made by an MP’s own party, as part of a bid to prevent an outbreak of partisan referrals.

The government believes three Labor MPs – Ms Keay, Susan Lamb and Josh Wilson – have questions to answer about their citizenship status at the time of the 2016 election.

Each considered at threat because they had not received confirmation of their renunciation until after they nominated as candidates in June last year.

Lower house crossbencher Rebekha Sharkie is also believed to be in a similar situation.

– The Examiner

18/05/2019 0

[email protected]: ASX set to finish week on dour note

The information of stocks that lost in prices are displayed on an electronic board inside the n Securities Exchange, operated by ASX Ltd., in Sydney, , on Friday, July 24, 2015. The n dollar slumped last week as a gauge of Chinese manufacturing unexpectedly contracted, aggravating the impact of declines in copper and iron ore prices. Photographer: Brendon Thorne/Bloomberg MARKETS. 7 JUNE 2011. AFR PIC BY PETER BRAIG. STOCK EXCHANGE, SYDNEY, STOCKS. GENERIC PIC. ASX. STOCKMARKET. MARKET.
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Stock information is displayed on an electronic board inside the n Securities Exchange, operated by ASX Ltd., in Sydney, , on Friday, July 24, 2015. The n dollar slumped last week as a gauge of Chinese manufacturing unexpectedly contracted, aggravating the impact of declines in copper and iron ore prices. Photographer: Brendon Thorne/Bloomberg

Finally some signs of life in the market. At a certain point, low volatility becomes more burden than boon as there is no return for taking on the risk normally associated with navigating the market. That said, global equities steered lower through Thursday’s session with a measurable escalation of intensity through the US session – quite the contrast to the tepid celebration of Dow’s and company’s climb on the one year anniversary of the US election. Whether short-term trader or long-term investor, seeing the VIX Volatility Index rise back above 10 should be a welcome development. This popular ‘fear’ measure has closed below 10 on 42 different occasions this year. For context, it has only dropped below that low extreme 9 other times in its history and then only during holiday conditions. When there is an assumption of no return, no enthusiasm and no consequence; something is wrong. The long and short of it

1. Wall Street: Following the course of retreat carved out by the Nikkei 225, DAX and FTSE 100 before it, US equity indexes opened Thursday with a gap down. In fact, the S&P 500 posted its fifth largest bearish gap on the open for the year. In turn, that index would further stretch through its low to hit the support on a channel that has served as the most recent, two-month stretch of its bullish run. Yet, before bears grow too confident and disengaged bulls pull the plug in a panic, we have yet to see any meaningful breaks. There are still only 4 days over the past 12 month period that have registered a more-than 1 percent daily decline – one of the most inactive yet bullish periods on record. All rides come to an end, but that doesn’t mean it has to be today.

2. US Tax Policy: The US share markets got a jolt on initial US news of a corporate tax delay. A report surfaced overnight that Senate tax writers are proposing delaying a US corporate tax cut until 2019. The US S&P 500 fell with a specific emphasis on technology shares leading to the largest drop in 2-months. The move lower in equities on the priced to perfection market that we touched on yesterday potentially unravelling saw US Treasuries run higher while the US Dollar dropped.

Recently, investors heard optimism from US corporations in their quarterly earnings report on the potential income boosts from tax reform so pushing out the tax cuts is not something the market wanted to see. US President Trump recently expressed confidence in a tax plan being released by US Thanksgiving (November 23), but it appears that a holiday miracle is not in store this year and stocks may take this dose of political reality as a reason to sell and take profits. The major US markets of the Dow, SPX500, and NASDAQ are up 18.6%, 15.15%, and 25.1% respectively, so it remains too early to get negative despite the largest drop for the latter two markets since late August.

3. ASX: The four-day streak higher for AS51 shares will have to earn its fifth straight rise. At the open, the 6,000 level is expected to hold, but the overnight leads show the ASX 200 down 33 points to 6010 with an overnight fair value low of 6000. Yesterday’s close brought the index to a 52-week high with the 0.55% gain or +33.16 points to 6049.43. Internally, the AS51 was supported by real estate and IT leading the charge higher and only energy acting as a laggard. BHP looks set to open slightly lower with Vale’s US-listing following suit.

The most impressive global equity move overnight was difficult to spot if you only looked at closing prices. After trading at the highest level since 1992, the Nikkei fell 3.5%, and a clear catalyst was absent. Over the last two months, the Nikkei has been a bull market benchmark and was 2% higher in the session before the sudden drop and close at -0.2%. Naturally, traders will wonder if this will kick off further warning signs of valuations, but the positive data trends on a global level make this unlikely for now. Any aftershocks could make it difficult for the ASX 200 to hold above 6,000 for long.

4. Looking ahead: There is relatively little on the global economic docket to leverage any serious promise of forging a new trend from the languid capital markets. However, the tide will rise again starting next week. Looking out past the weekend there is a range of events and data that can spur sentiment and rate speculation. However, the most prominent theme has to be the wave of scheduled speeches by members of the largest central banks. In particular, all traders should keep an eye on the panel at the ECB Conference Tuesday that will have Fed Chair Yellen, ECB President Draghi, BoE Governor Carney and BoJ Governor Kuroda in attendance. Messing with the calibration of global stimulus growth can be seriour threat to the low-yield market advance we’ve experienced. Recognition that this firefighters are out of water should another financial crisis flare up could be even more problematic.

5. Bitcoin volatility remains, trend sidelined: News yesterday that Bitcoin would avoid the Segwit2x hard fork was hailed as a win for normalcy in the fledgling cryptocurrency market???but that hasn’t translated into lift to the high-flying asset. It has been the standard case that status quo is used as fuel to sustain and even accelerate trends (Chinese growth, European elections) while unquantifiable change cuts them short (Brexit). That isn’t the case here. Following the temporary setbacks with events like the one that created Bitcoin Cash, it seemed there was an interest in seeing this change go through as some form of ‘dividend’ event. It’s failure was therefore met with disappointment. Bulls shouldn’t fear though as the CBOE’s and CME’s push to introduce regulated futures and ETF products based on Bitcoin will bolster the market’s legitimacy. The question then becomes: is this as attractive a market to traders if it is in the world of ‘normal’ markets?

6. The n Dollar: Aussie Dollar continues to oscillate but is becoming more attractive to bargain hunters. Despite the low volatility, traders can look to the options market to see the AUD/USD one-year risk-reversal has recently touched a nine-year high on the session showing that traders do not want to pay for out of the money downside protection too aggressively. While the AU-US sovereign bill spread continues to tighten with the 3-month bill narrowing within 50bps and longer out on the curve, there remains a fear that a steadily hiking US Federal Reserve will erase the longer-term AU debt yield premium.

After a 5% drop from the September high, AUD/USD is seen as resilient despite the low volatility. Traders should not forget the seasonal factors at play though that has seen the AUD fall in 7 of the last 10 Decembers while 1-month implied volatility has ended the month of November higher in each November in the last four years. Caveat emptor.

7. Commodities: The promise for new trends in commodities has been intense at certain points, this past week, but conviction seems as elusive here as it has been in the financial markets. US-based WTI crude had every opportunity to turn the corner on its year of congression following last week’s break above $55 and the strong follow through effort Monday, but the move has since proven spent. The initial charge had dubious connections to US inventory figures or OPEC headlines, so scrambling for support in these venues now would likely come up short. Meanwhile, gold’s more modest break above $1,285 has inspired no such flush of initial volatility, so the slow turn in a wide wedge makes no promise of quick profits. Inflation, risk or anti-currency – gold doesn’t rise for free.

8. Market watch:

SPI futures -0.5%, down 31 points, to 6049.5 points

AUD +0.04% to US76.83??

On Wall St: Dow Jones -0.6%, S&P 500 -0.7%, Nasdaq -1%

In Europe: Stoxx 50 -1.2%, FTSE 100 – 0.6%, CAC 40 -1.2%, DAX -1.5%

Spot gold +0.4% to $US1286.75 an ounce

Brent crude +0.8% to $US63.97 a barrel

Iron ore +0.1% to $US62.32 a tonne

LME aluminium -0.8% to $US2,093 a tonne

LME copper -0.7% to $US6,808 a tonne

This column was produced in commercial partnership between Fairfax Media and IG

18/05/2019 0

Neil Diamond’s golden anniversary tour comes to China

The 1960s was a good decade in the life of Neil Diamond, who was 25when he released his debut albumThe Feel of Neil Diamondin 1966.
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By the end of the decade, Diamond, who will bring his 50th anniversary tour to next March and April, had released three more albums and numerous songs that would stand the test of time.

Neil Diamond. Photo: Micah Diamond

Solitary Man,Sweet Caroline,ShiloandHoly Holywere among thesongs that would establish Neil Diamondas a star on the rise, whileCracklin’ Rosie,Kentucky WomanandSong Sung Bluewould deliver on the promise of more to come.

As the ’70s unfolded and Diamond became a star on stage as well as one of the biggest recording artists in the world, hisYou Don’t Bring Me Flowersduet with Barbara Streisand,DesireeandLove Onthe Rockspropelled him even higher in the entertainment universe.

Fifty-two years since his debut album, Diamond’s hugely successful anniversary tour will play nine n dates, including Sydney’s Qudos Bank Arena on March 27 and Rod Laver Arena in Melbourne on April 3. His outdoor shows will include Sutton Grange Winery, near Castlemaine, on March 31, and the Hunter Valley’s Roche Estate on April 7. The 76-year-old will alsoperformin Brisbane, Townsville, Adelaide and Perth.

In more recent years Diamond’s star was officially recognised on the Hollywood Walk of Fame, he was inducted into the Rock and Roll Hall of Fame and he performed to a crowd of more than100,0000 at the Glastonbury Festival. Over his long career he has sold 130 million albums.

Tickets goon sale from 2pm on Thursday, November16.

For more information, head here. Ticket pre-sales from telstra苏州夜总会招聘/neildiamond open at 2pm on Tuesday, November 14.

The NZ- tour itineraryCHRISTCHURCH– Tuesday, March 15, at AMI StadiumNAPIER – Tuesday, March 17, at Mission EstateTOWNSVILLE – Tuesday, March 20, at 1300 Smiles StadiumSUNSHINE COAST – Thursday, March 22, at Sunshine Coast StadiumBRISBANE – Saturday, March 24, at the Brisbane Entertainment Centre,SYDNEY – Tuesday, March 27, at Qudos Bank ArenaVICTORIA – Saturday, March 31, at Sutton Grange WineryMELBOURNE – Tuesday, April 3, at Rod Laver ArenaHUNTER VALLEY – Saturday, April 7, at Roche EstateADELAIDE – Wednesday, April 11, at Botanic ParkPERTH – Saturday, April 14, at Sandalford Estate, Swan Valley

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