“This serves as a stark reminder that the global economy and the financial markets remain deeply dependent on central bank liquidity.”Stendevad described the January-to-September return as good, and attributed it to the fund’s “patient and flexible” investment strategy.He said it was important to maintain this strategy for the rest of the year to achieve positive returns, given that the global economy still faced considerable risks.ATP’s total profit was DKK6.5bn for the first three quarters of the year, down from DKK7.8bn in the same period in 2012, and reserves increased to DKK90.4bn from DKK82bn a year earlier, according to the fund’s data.All five of ATP’s risk classes produced positive returns, it said, with equities coming out as the top performer.Equities returned DKK7.8bn, boosted in particular by listed domestic equities, which produced a 38.4% or DKK5bn return.The inflation, interest rates, credit and commodities risk classes returned DKK1.1bn, DKK1bn, DKK600m and DKK400m, respectively, ATP said.Within inflation – by far ATP’s largest risk class, accounting for 38.1% of the DKK10.9bn investment portfolio – real estate investments and hedging strategies were the drivers of return in the reporting period, the fund said.Foreign infrastructure investments made the biggest loss.ATP said it hedging programme made a DKK2.1bn loss over the period, as the allocation of domestic government bonds was higher in the hedging portfolio than in the yield curve used to value pension liabilities.Total assets fell to DKK705bn by the end of the reporting period from DKK794bn at the end of December 2012. Danish statutory pension fund ATP made a 10.8% return on investments in the first nine months of this year, but its chief executive warned central bank liquidity was still the linchpin for the economy and markets.In its interim report, ATP said it generated a return of DKK9.1bn (€1.2bn) on its free reserves between January and September, representing a return of 10.8%.In the same period last year, the giant pension fund produced an 11.9% return.ATP chief executive Carsten Stendevad said: “When the Federal Reserve held off on QE tapering in September, it triggered optimism in the market, which was also to our benefit.
Monthly Archives: September 2020
Germany’s development bank, the Kreditanstalt für Wiederaufbau (KfW), is to issue its first green bond, targeting up to €1bn that would be invested in renewable energy projects.The capital raised from the inaugural, euro-denominated issuance is to be kept in a separate account, focusing on solar and wind power projects, with their carbon impact independently assessed, the bank said.Horst Seissinger, head of capital markets at the German institution, told IPE the euro issuance would be only the beginning, targeting a market accustomed to the idea of green investing.“The other large and traditional market is the one in the US – it’s something we have in mind for the second part of the year,” he said. His colleague Petra Wehlert, head of new issues, said KfW’s involvement in the green market would “get that topic out of the niche into broader capital markets”.“It’s a simplification of the topic, giving capital market participants a product and to use it to broaden the discussion about the concept,” she said.The bond will base its duration around the average loan term of the KfW’s pre-existing ‘Renewable Energies – Standard’ programme, which last year stood at 8.6 years.Solveig Pape-Hamich, head of investment strategies and sustainability at the bank, was keen to emphasise that it could be viewed as more than a simple green bond by some investors, as it would be assessing the carbon reduction achieved by investment activity independently.“We sell it as a green bond, but, at the same time, it is a good product for the so-called impact investors to invest in, since we can offer them an impact measurement.”KfW said it estimated the green bond market would be worth $40bn (€29.4bn) by the end of 2014.Sessinger added that he would not rule out the bank moving beyond green bond investment and could “look at other themes that are of interest to investors”.,WebsitesWe are not responsible for the content of external sitesLink to KfW’s investor relations site on green bonds
AXA becomes the fifth UK insurer to arrange longevity swaps for their own DB schemes, as the UK market as a whole has £53.4bn worth of liabilities hedged.Stephen Yandle, chairman of the scheme, said: “[We have] taken an important step to ensure our DB scheme members’ benefits are strongly secured against continuous improvements in life expectancy.”James Mullins, head of buyout solutions at Hymans Robertson, said it was telling that insurance companies were continuing to transfer their pension schemes’ longevity risk to third parties.Insurers will be subject to additional capital requirements when Solvency II kicks in later this year, requiring companies to shore up longevity within their books and their own pension schemes.Mullins said this could be a factor in the surge of insurers de-risking.“The market for longevity swaps represents excellent value at the moment, being driven by high reinsurer appetite for UK longevity risk,” he said.“We are likely to see an increasing number of schemes going down this route.”The AXA longevity swap is the first of 2015 after the £25.4bn record level of swaps seen in 2014.Last year also saw the first scheme access the reinsurance market without an intermediary firm – with Aviva aiding its scheme to access the market directly.This allows pension funds to save on costs and benefit from better pricing by avoiding price averaging, which occurs when intermediary insurers or banks engage with several reinsurers to spread credit and counterparty risks, as well as exposure limits.Four of the five deals in 2014 used this process.Last July, the BT Pension Scheme dealt directly with the Prudential Insurance Company of America by setting up its own insurance company in a £16bn longevity swap.Towers Watson, which advised the BT scheme and went on to create an insurance cell for smaller pensions schemes to access the market, also advised the AXA scheme.Shelly Beard, senior consultant at the firm, said progress on de-risking investments meant longevity was becoming a more prominent un-hedged risk – leading to growing demand. French insurance group AXA has insured the longevity risk on approximately half its UK defined benefit (DB) pension fund’s liabilities in a swap deal with a US reinsurer.The Reinsurance Group of America (RGA) will now take on £2.8bn (£3.9bn) worth of longevity in a swap deal arranged via the scheme’s sponsoring insurer employer.Reinsurance companies only deal with banks and insurance firms, with the pension scheme able to leverage against its sponsor’s place in the market.The longevity swap will now form part of the £3.6bn scheme’s asset portfolio, with RGA providing income to the scheme to hedge it from increases in longevity among its 11,000 pensioner members.
The pressure group said that the €46bn metal scheme PME still had a 3.3% stake in fossil fuel firms, while the allocation of BPL – the €16bn scheme for the agricultural sector – was 1.8%, following a decrease.Fossil fuel investments of the €186bn healthcare scheme PFZW remained stable, the lobby group said, while two other large funds, ABP and PME, had increased their exposure.According to Fossil Free NL, pension funds usually did not factor in the carbon emissions of produced fuel when calculating the carbon footprint of coal, oil, and gas companies.“CO2 emissions of an oil firm could seem to be low if a company efficiently produces the oil, but the result of this activity is that the fuel will be burned and cause large emissions,” Meddens pointed out.In her opinion, fossil fuel firms’ activity was the core of the problem, and therefore all stakes in the top 200 companies should be divested.The pressure group’s blacklist of carbon-intensive stocks is based on two other lists, including one from the German lobby organisation Urgewald, comprising 120 firms that have planned two-thirds of the 1,600 scheduled new coal plants worldwide.These companies often have diversified activities, resulting in less than 30% of their turnover derived from coal. Some investors, including Aegon, Allianz and the Norwegian sovereign wealth fund, have decided to only divest if companies’ stake exceed 30%.Fossil Free NL also referred to Carbon Underground 200, a list of 200 firms with the largest potential carbon emissions in their reserves.Their combined holdings are six times as much as could be burned and still have an 80% chance of limiting the worldwide temperature rise to 2 degrees, it argued.ABP, PFZW and PME confirmed they only assessed emissions from corporate activities and suppliers, with PFZW adding that emissions from customers were “too complicated” to measure.ABP and PME have pledged to reduce the carbon footprint of their investments by 25%, while PFZW and BPL have aimed for a 50% reduction.A number of schemes said they were not yet planning to divest, arguing that fossil fuels would be necessary for some time to come. However, they have urged companies to plan for a transition to sustainable energy.Fossil Free NL said it had granted BPL the highest rating for the implementation of its fossil fuel policy, including divestment from firms with a profit of more than 5% from coal.In a response, the Pensions Federation said that the issue required a broader approach than divestment from fossil energy.“Climate change doesn’t stop at the border and needs international standards that are also adhered to,” it commented.,Supporting documents Click link to download and view these files Fossil Free NL’s list of 200 fossil fuel firmsPDF, Size 0.17 mb Even Dutch pension funds with the best environmental credentials won’t achieve the Paris Climate Treaty targets with their current investment policy, a local pressure group has claimed.Lobby group Fossil Free NL, which surveyed 180 schemes, said that pension funds with a highly acclaimed environmental, social and governance (ESG) policy still had “significant” stakes in companies with plans for new coal plants and large reserves of fossil fuels.It found that the pension funds still had combined investments of €13.4bn in equity and bonds of companies on a list of 200 fossil fuel firms at the end of 2016. This amount had increased by €2.6bn since 2015, the group said.“To meet the Paris target of limiting the worldwide rise in temperature to 2°C, the currently proven reserves of fossil fuels must remain largely where they are,” argued Liset Meddens, director of Fossil Free NL.
Policies targeted at people who are not in paid work could reduce the gender pension gap, with women taking time away from work to look after family a significant contributing factor, according to new research.In a report published today, independent research organisation The Pensions Policy Institute (PPI) revealed that there are currently 50% more women than men heading towards retirement without any private pension savings.“A gender pension gap exists in the UK, driven by pay differentials and exacerbated by the fact that women are more likely to take career breaks to care for children or elderly relatives, and by the design factors of the current pension system,” it said in the report.“This gap is both recognised and mitigated in some form by different bodies, however the gap persists and has ramifications for the fairness of retirement for half of the population.” The PPI found that in order to draw the same pension income throughout their retirement, women would need to have saved around 5%-7% more than men by retirement age to allow for living longer.There were now 1.2 million women in their 50s with no private pension wealth, it reported, with this group representing approximately 5% of all women.As a result of factors such as the gender pay gap and differing working patterns between the sexes, by retirement women would have approximately accrued £51,000 (€56,4000), whilst men would have about £157,000 of pension wealth, it said.Among measures to tackle the pensions gap, one of the PPI’s suggestions in the report is a policy targeted at people not in paid work.“This is because a greater proportion of women take time out compared to men,” it said.“Policies such as the family carer top-up could therefore reduce the pensions gap.”The research organisation suggests a family carer top-up could make up half the pension saving missed by taking time away from paid work to care.This would reduce the gender pensions gap by as much as 28%, it said, since more women qualify to receive this benefit compared to men, with 1.5m women qualifying against 150,000 men.
“By punishing itself through the coupon step-up, Enel has given itself an additional incentive to increase operating sustainably,” said a spokesman for the €86bn metal scheme PMT, which has bought a €45m stake in the euro-denominated bond.The €465bn civil service pension fund ABP announced it had invested in both Enel’s dollar-denominated and euro-denominated SDG bond.The €238bn healthcare scheme PFZW said it is keen on the step-up. However, a spokesman for PFZW and PGGM, the scheme’s asset manager, highlighted the importance of sufficiently ambitious targets, in order to guarantee a significant effort to meet the goals.ABP said it had invested almost €53m in SDG-linked bonds. PFZW declined to be specific about its stake.Enel is the first company to have issued SDG bonds in addition to green bonds. In September it raised $1.5bn for its dollar-denominated bonds, whereas its euro-denominated issuance in October fetched €2.5bn.The Italian energy firm said it also wants to contribute to the SDGs by installing smart electricity meters and charging stations for electric vehicles.SDG bonds as issued by Enel differ from green bonds because their entire proceeds don’t have to be invested in specific green projects.Asset manager NN Investment Partners said it estimated the market for SDG bonds at approximately €250bn.PFZW noted that the relative flexibility of SDG bonds made them an attractive addition to green bonds.“Green bonds are in particularly issued by banks and utility companies, and therefore often relatively limited in respect to projects,” it said.“SDG bonds could be an addition to the funding mix of a broader range of companies with sustainable targets”PFZW, the second largest pension fund in the Netherlands“SDG bonds could be an addition to the funding mix of a broader range of companies with sustainable targets.”Lucienne de Bakker, project manager for socially responsible investment (SRI) at the Dutch Association of Investors for Sustainable Development (VBDO), said the introduction of SDG bonds was a “logical next step”, following the strong growth of the green bond market.“It is an interesting way of communicating for investors and companies, as they can easily show a concrete impact,” she argued.PMT said it is already assessing additional options for investing in SDG bonds.ABP added that, although Enel was the only firm that has issued this paper so far, it expected more companies to follow suit.The €29bn multi-sector scheme PGB, which hasn’t invested in the Enel bond, said it applauded the concept “because of the control it gives over the subjects of investment”. Dutch pensions funds ABP, PFZW and PMT said they had invested in a new type of bonds, targeting the United Nation’s Sustainable Development Goals (SDGs), issued by Italian energy firm Enel.The trio said it was particularly keen on the interest level linked to achieving concrete goals.In a so-called “coupon step-up”, Enel has committed to pay an additional 25bps, on top of the coupon interest paid to investors, if it fails to meet its target.Enel said it wanted to source at least 55% of its energy from sustainable origins by 2021, and to have reduced its carbon intensity by two-thirds – to 125 grams per kWh – by 2030.
Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 1:30Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -1:30 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD432p432p288p288p180p180pAutoA, 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 Rate1xFullscreen3 steps to creating a duplex01:30DESPITE being in a sea- and tree-change location, Cairns housing is one of the most efficient and sustainable in the country, according to a local urban development representative.Recent calls by Archicentre Australia director Peter Georgiev to think small and increase liveability is not a lesson Far North homeowners need to heed.Mr Georgiev said when choosing a residential option, too much emphasis is often given to size at the expense of design quality.He said living close to the centre of cities and towns had a strong appeal in terms of accessibility and commuting, but the cost of doing so had increased to the point where most people can no longer afford it.“The compromise of this is living much further away from all the conveniences and the lifestyle options that most people enjoy, including social engagement, dining preferences, cultural events and major sports,” he said.But Far North Urban Development Institute of Australia president Adam Gowlett said Cairns was managing its high population growth well.“I don’t think Cairns has many large lifestyle blocks. We certainly don’t have the number of acreage blocks you get when you get to the fringe suburbs of Brisbane, or even Canberra,” he said.“Cairns does extraordinarily well in its ability to have an elective mix of housing and a relatively high density of housing and we’ve done that for decades.More from newsCairns home ticks popular internet search terms2 days agoTen auction results from ‘active’ weekend in Cairns2 days ago“I think most people want to be close to schools and work. We have a slightly higher population growth than the state average. We have about 5-8000 people moving to Cairns every year and we can’t accommodate them without building new dwellings but we do a pretty good job of managing our growth in an orderly and efficient manner.”Despite this, Mr Georgiev still called on local and state authorities to make a wider variety of housing options available to prevent urban sprawl.“In far too many parts areas of Australia, the opportunity of living in smaller, or even tiny, homes on small blocks is just not possible owing to restrictive planning regulations at local and statewide levels,” he said.
More from newsLand grab sees 12 Sandstone Lakes homesites sell in a week21 Jun 2020Tropical haven walking distance from the surf9 Oct 2019The bedrooms are modern and have a feature wall.The home’s four bedrooms run down the left of the house, and the main bedroom has a walk-in wardrobe and ensuite with a double vanity.The other bedrooms are serviced by a bathroom which has a separate shower and bath.To the right side of the house is a double lockup garage, an open-plan kitchen, living and dining area, and a separate laundry. The red glass splashback is a standout feature of the house.The kitchen has a walk-in pantry and an eye-catching red glass splashback.This open-plan area flows out through stackable doors to a tiled alfresco dining area. The lounge room is bright, with a bold statement wall.“Living in Queensland is a great retired lifestyle for us,” Mrs Dimmock said.“We love the temperature, it’s the perfect retirement life.”The couple were drawn the fact the four-bedroom house had only been recently built.“The house we had before was 40 years old, and this was only a year old,” Mrs Dimmock said.“Everything was new, shiny and modern and it was a very exciting time to be moving there.” The house at 11 Wild Horse Rd, Caboolture, is for sale.THE idyllic Queensland weather and relaxed lifestyle made this Caboolture house perfect for these Sydney-siders to retire to.Karen and Jeff Dimmock moved into 11 Wild Horse Rd almost two years ago, and have loved every minute since. There is an alfresco dining area.Mrs Dimmock said her favourite room had been a bedroom she had turned into a craft room.“I liked to go in there and spend hours making cards and scrapbooking,” she said. The ensuite has a double vanity and large shower.The location had also been perfect for the couple.“It’s close to Caboolture shops and Morayfield, if you want to go to Bribie it is really close, and we’ve got friends at Caloundra and it only takes half an hour. We always take our visitors up to Montville for a look.”Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 0:51Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:51 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD576p576p432p432p270p270pAutoA, 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 Rate1xFullscreenStarting your hunt for a dream home00:51
BEFORE: How the front of the home looked before renovation. AFTER: Cleaner lines and a laundry that can be closed off. The property sold to a woman who walked in during the first open home.“I think we would still have it on the market if they didn’t do this,” Jade said.“We pretty much broke even. The idea was to get it sold when we weren’t even getting offers on the table before.”The couple have since bought their dream property — acreage an hour out of Brisbane while Jade’s parent have bought acreage an hour out of Toowoomba.“It’s the dream lifestyle we wanted. It’s just amazing what they did. It definitely changed my life.” FOLLOW SOPHIE FOSTER ON FACEBOOK BEFORE: The old outdoor entertainment space. Selling Houses Australia host Andrew Winter outside the finished home. BEFORE: The old laundry. AFTER: The home after the three day blitz by the Selling Houses Australia team.More from newsParks and wildlife the new lust-haves post coronavirus13 hours agoNoosa’s best beachfront penthouse is about to hit the market13 hours agoJade and James (surname withheld) had been living with Jade’s parents for five years — two of which were in the house they had planned to do a full dual living conversion in at Brisbane suburb Jamboree Heights.They were floored when they were chosen. “We didn’t really believe it. We’ve watched the show for so long. It was a bit surreal,” Jade told The Courier-Mail.“We’d had lots of people go through, but not really any interest. We had one offer for less than what we bought it for two years before which was also subject to the sale of their home.” 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 Selling Houses Australia hosts Charlie Albone and Shaynna Blaze modernised this typical two storey Brisbane home. When a young couple couldn’t afford to buy a house on their own, their parents pitched in to go halves — but with a growing family, and the market moving on, they called in the Selling Houses Australia experts to help them move on.The family were facing the brutal reality of their home not getting a single offer despite being on the market for months when Andrew Winter, Shaynna Blaze and Charlie Albone walked in.The real estate expert, interior designer and landscaper were confronted with a three bedroom, two bathroom highset that had the look of needing lots of little jobs done to get into top shape — and they transformed it with their team in just three days. AFTER: The space modernised and usable. The home was “dated and lacking personality” with lots of different floor types and the garage wasn’t enclosed “so it felt unfinished”. The transformation team got to work, putting in the essentials like a laundry “in the right spot”, building a second bathroom downstairs, enclosing the garage and putting an internal door from there to the house.“It was beautiful. The whole house was beautiful,” Jade said. “Just how they can look at a space and think up a design to make it more functional is amazing. It was an odd layout to our house — they made it bigger, brighter and more modern.”
The home at 116 Stradbroke Ave, Wynnum. Picture: supplied.THIS grand Queenslander with swimming pool sits on an 810sq m corner block in the heart of Wynnum. Owners Tony and Patricia Lawler bought the home at 116 Stradbroke Ave 15 years ago and are selling to downsize.Mr Lawler said he and his wife were on the hunt for a family home when they found 16 Stradbroke Ave. They loved the space on offer as well as the beautiful house. “It’s big and grand, and it sits on the highest point of Stradbroke Ave,” Mr Lawler said. “I particularly like the verandas. We have verandas on two sides so you can move around until you find the sunniest or coolest spot. The living area at 116 Stradbroke Ave, Wynnum. Picture: supplied“Also from anywhere in the house there is a beautiful aspect. And we get lovely breezes through here as well.” In the time the Lawlers have owned the home they have extended the veranda at the back of the home and added a second driveway to the side of the property.Set across two levels, with dual living potential, the home has plenty of character including timber floorboards, VJ walls, high ceilings, ornate fretwork and stained glass. Upstairs there is formal lounge room, sun room, bathroom, kitchen and dining roomThree of the bedrooms are upstairs, with two opening to the rear deck. More from newsParks and wildlife the new lust-haves post coronavirus11 hours agoNoosa’s best beachfront penthouse is about to hit the market11 hours agoThe home has a swimming pool and plenty of outdoor entertaining space. Picture: supplied.Downstairs there is an open-plan living, dining and kitchenette area opening to the rear patio.There are two more bedrooms downstairs with one having direct access to the second bathroom.Outside there is an inground pool, established gardens, double carport and a separate under house parking area with driveway. Mr Lawler said the home was very comfortable to live in and also great for entertaining. “We’ve had all the 18th and 21st parties here,” he said. The home is on the market through Gail Gobey of Sash & Gable Property.