Scandal rocks Finnish local government pension fund Keva

first_imgEarlier this week, local media also came out with claims that Ailus received child benefits from Finland and Norway simultaneously for eight years, which Norwegian officials are now claiming back.Ailus maintains she was unaware she continued to be paid the benefit after she moved away from Norway.Earlier this week, Keva’s deputy chief executive Tapani Hellsten reacted to the news by announcing he would give up his fringe benefits – a luxury car and a flat – in exchange for an increase in salary.Ailus said she would give up the car and the flats, but pointed out that, to low-earning pensioners, the fringe benefits of pension fund management might seem excessive.Keva will convene and comment on the issue on 22 November.Chairwoman Räty – who initially backed Ailus but recently changed tack – told IPE: “It is of the utmost importance that the management of a local pensions institution have sound judgement.“On the basis of the conversations I have had with Ailus in recent days, as well as the newest developments in this matter, I can no longer say that Ailus’s judgement is up to our standards.” Despite Räty’s announcement, Ailus organised a press conference for Keva staff on Thursday morning, declaring that she had no intention of resigning.Keva’s board will convene on Friday to discuss the issue, although several members of the board have announced that they agree with Räty.The Ministry of Finance, the supervisory body for Keva, is also evaluating the situation and will make its recommendations in mid-December.Keva has also set up an inquiry on its benefit culture.Many in the Finnish pensions industry and media, however, have questioned the objectivity of an inquiry managed by the fund’s own finance Tom Kala, who is one of Ailus’s subordinates.Keva insures 1.3m Finns working or having retired from local government jobs.Ailus was appointed as managing director of the €35bn scheme in 2009 out of a group of 20 applicants.Her appointment has been described as political, as she is a member of the Centre Party and arguably had less experience with the pensions industry than several other applicants.IPE asked Ailus to comment on the situation, but received no reply. Merja Ailus, managing director at Keva, the €35bn local government pensions institution of Finland, may lose her job after local media revealed evidence of tax evasion, prompting the fund’s chairwoman, Laura Räty, to say she had lost trust in Ailus.Last week, Finnish media reported that Ailus’s “fringe benefits” included two luxury flats in central Helsinki and a brand new BMW.Further, the reports alleged that she failed to pay the appropriate taxes for the flats, and that “rules had been bent” in the acquisition of the BMW.When starting at Keva in 2009, Ailus reportedly requested to live in a €2.3m flat and last year requested an increase of €6,100 on her monthly salary of €18,900.last_img read more

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Social investing to be made easier for charities

first_imgFoundations and charities in England and Wales could find it easier to make social investments after recommendations were published by the Law Commission.The recommendations built on an earlier report into social investment by charities, which resulted in a new statutory power for charities to make social investments that was enacted in 2016.The Law Commission – the statutory independent body that monitors the law in England and Wales – made two key recommendations with the potential to help increase social investment by charities.It recommended that trustees be given a statutory power to borrow from their permanent endowment by allowing them to spend up to 25% of its value, as long as they recoup that expenditure within 20 years. This would enable charities to borrow from permanent endowments to make social investments.  Secondly, it recommended that charities that have adopted a total return approach to investment in accordance with the Charities (Total Return) Regulations 2013 should be given the power to further relax the permanent endowment restrictions, allowing them to make social investments with a negative or uncertain financial return – which would not otherwise be permitted as investments.This would in turn enable trustees to offset – within limits – any losses arising from social investments against gains elsewhere in the investment portfolio.Elizabeth Jones, a partner at law firm Farrer & Co, said: “Assuming the UK government supports the recommendations and enacts the draft Charities Bill appended to the Law Commission’s report, the new powers are likely to further broaden the scope for charities to make social investment, particularly following the new powers available to most charities since 2016.” The UK government is due to respond to the recommendations within the next year.last_img read more

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TOBAM seeks to bring Bitcoin to institutional investors

first_imgTOBAM is looking to raise money from institutional investors for Europe’s first mutual fund investing in Bitcoin.The French asset manager – a specialist in smart beta strategies – has developed an in-house team focussed on cryptocurrency research. It said cryptocurrencies had “the potential to become durable standards in financial and saving markets”.Yves Choueifaty, president of TOBAM, described Bitcoin as a “highly diversifying asset”, and said the company had conducted research into the digital currency “from a technical, financial, economic and regulatory point of view” for a year prior to the launch of the fund.“This first move in the world of cryptocurrencies showcases our dedication to remaining ahead of the curve and to providing our clients with innovative products in the context of efficient (i.e. unpredictable) markets,” Choueifaty said.  The fund is available via private placements into an unregulated alternative investment fund domiciled in France.In a statement, TOBAM said its fund allowed institutional investors to access the cryptocurrency “in a more convenient and safer vehicle”.  “While Bitcoin is prone to significant risks, including a very high level of volatility, it also provides diversification benefits,” the company said.TOBAM said it had “developed cybersecurity systems and cutting-edge technological capabilities over the past 12 years, both of which will back up the structure and functioning of the fund”. This included the management of “forks”, which occur when a change or update is made to the algorithm behind Bitcoin.Bitcoin’s value has exploded in the past 12 months, growing more than 1,000% in dollar terms from $748 to $8,263, according to Coindesk. Source: CoindeskHow the price of Bitcoin versus US dollar has developed in the past 12 monthslast_img read more

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Sampension poaches Nordea Life & Pension’s investment chief

first_imgDenmark’s largest labour-market pension fund, Sampension, has hired Jesper Nørgaard away from Nordea Life & Pension to take on the newly-created role of deputy CIO.Sampension, which managed DKK267bn (€35.9bn) of assets at the end of 2016, is expanding its investment department since merging two smaller pension funds from the now-defunct Unipension administrative alliance into its operation a year ago.Hasse Jørgensen, chief executive of Sampension, said: “We are very pleased to have hired someone with Jesper’s experience and skills as well as his strong professional and management profile.”Altogether, Nørgaard has worked at Nordea Life & Pension, part of banking group Nordea, since 2004. He has been group CIO for nine years. Sampension said that in creating the new deputy CIO position, it was bolstering its investment department strategically as well as in terms of management.The department, which currently consists of 28 staff and is led by CIO Henrik Olejasz Larsen, has grown because Sampension took over the management of The Pension Fund for Agricultural Academics and Veterinary Surgeons (PJD) and The Architects’ Pension Fund with effect from 1 January 2017.On top of these new inclusions, the department has been dealing with an increase in complexity due to tighter regulation, more focus on responsible investments and more investment tasks that have been brought in-house from external managers, Sampension said.Olejasz Larsen told IPE that although Sampension has succeeded to some extent in merging the investments of the two incoming pension funds with its existing portfolio – using common “building blocks” in the form of Sampension’s mutual funds – the newcomers still require extra work from the investment department.“There are some things we have to do three times – for instance, getting regulatory approval – and when we engage with other financial institutions they have obligations to know their client,” he said. “All these things stem from the fact the pension funds are not fully merged, but are still separate legal entities.”The primary reason Nørgaard’s new role was Sampension’s increased need for external communication regarding its investments, Olejasz Larsen said.“There is a need for more external communication with stakeholders, the boards of the new pension funds as well as the public, and this is all demanding management time,” he added.Sampension has been bringing more of its alternatives investment such as private equity, forestry and international real estate in-house since the global financial crisis, he said.Meanwhile, Nordea Life & Pensions has appointed Erik Callert – currently head of investment sourcing and product coordination – as acting group CIO.Nørgaard will remain officially employed at the company until 31 March, and is currently still working at the firm to facilitate a smooth handover, a spokesman said. Nørgaard will go on leave on 1 February.Nordea Life & Pension lost the CIO of its Danish operation to a labour-market pension fund last year as Anders Schelde moved to become CIO of MP Pension, the pension fund for academic public sector staff.last_img read more

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PGB to exclude supermarket chains over firearm sales

first_imgThe €24bn multi-sector scheme PGB has become the first Dutch pension fund to exclude companies selling firearms to civilians.As a result of the decision, the scheme said on its website that it would divest its stakes in US supermarket chains Walmart and Kroger.The decision followed a survey of its members conducted in 2017, which indicated that they didn’t want the scheme to invest in controversial weapons.Members also indicated that they were concerned about about gun violence at, for example, schools in the US. However, they supported these weapons remaining available to the police and the army. According to PGB, consultancy firm Sustainalytics had developed a method to screen companies for arms sales to civilians. Its work was prompted by a discussion among US pension funds.Walmart has already been excluded by several Dutch pension funds, including the €203bn healthcare scheme PFZW. However, this was for violating workers’ rights to unite through union membership.PGB didn’t identify the two other companies affected by its divestment decision, but said it was also screening arms manufacturers that targeted consumers, and manufacturers of parts for guns and other firearms.It said that its exclusion policy would also apply to firms whose subsidiaries produced firearms or focused on sales to civilians.PGB added that it would start divesting its stakes in the companies – all listed in the MSCI index – in the fourth quarter of this year.Earlier this year, asset managers State Street and BlackRock said they planned to engage with arms manufacturers regarding safety and distribution following a school shooting in Florida in February.last_img read more

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Want to buy a Brisbane apartment? They just got $100,000 more expensive

first_imgIncredible views of the CBD from Brisbane’s tallest building in Margaret Street, ‘Skytower’.NORTH OF THE RIVER– 93 unconditional transactions with a weighted average price of $680,376– ‘Gallery House’ stages 1 and 2 had the most expensive off-the-plan apartments sold – The top sale was a four-bedroom penthouse apartment that sold in the $2.595m price bracket – The majority of sales during the quarter were between $350,000 and $450,000– At the end of the quarter, there were 699 apartments remaining for sale – There are 699 new apartments for sale throughout the precinct. A new report reveals the average sale price of a Brisbane apartment rose more than $100,000 in the September quarter.THE price of a new apartment in Brisbane is now at least $100,000 more expensive than it was only three months ago, surging to its highest level since before the global financial crisis.A new report from Place reveals the average sale price of a unit in the city during the September quarter was $790,489 — up 17 per cent on the previous quarter — driven by owner-occupier demand for high quality apartments.And sales have also more than doubled in that time, as the appetite for apartment living increases.The report found 368 apartments were sold during the three months to the end of September, totalling around $291 million. Inside one of the apartments in the second tower of Brookfield Residential Properties’ $271m project, ‘Gallery House’. ‘The Standard’ is a new residential project by Aria Property Group in South Brisbane. Image supplied by Aria Property Group. SOUTH OF THE RIVER CBD – 268 unconditional transactions with a weighted average price of $818,097 — the highest recorded weighted average sale price for the precinct since 2010– This was heavily influenced by Aria’s new development ‘The Standard’ in South Brisbane, which sold 234 apartments in the quarter– The majority of sales were between $750,000 and $900,000.– 772 apartments remain available for sale throughout the inner south precinct (Source: Place) ‘The Standard’ is a new residential project by Aria Property Group in South Brisbane. Image supplied by Aria Property Group.The number of new apartment projects being marketed in inner Brisbane continues to decline, with only 51 units being sold off-the-plan in the September quarter — down 10 per cent from the previous quarter.Mr Walker said that if sales volumes were to remain at current levels, all available supply would be absorbed by the end of 2019.Of the 8,433 new apartments currently in the market, the Place report found 79 per cent have been purchased and 45 per cent have recently completed construction. By the end of this year, 59 per cent of all available off-the-plan product will have been built, increasing to 86 per cent by the end of 2019 and 100 per cent during 2020. As much as 60 per cent of the future apartment pipeline is currently deferred or abandoned and this continues to consistently increase each quarter. A new report reveals the average sale price of a Brisbane apartment rose more than $100,000 in the September quarter. Image: AAP/Darren England.Many of these sales were in one development — ‘The Standard’ by Aria Property Group in South Brisbane, which accounted for 234 apartment sales during the quarter. Only 15 apartments remain for sale in the project, with a total of 94 per cent now sold.Place residential research director Lachlan Walker said despite the strong sales and prices achieved, the inner Brisbane apartment market continued to be affected by tight lending conditions. “However, with future new supply being constrained to low levels, purchaser demand continues to steadily absorb available stock,” Mr Walker said. “Developments of higher quality apartments continue to outperform as owner occupiers currently dominate the market place.” – 7 unconditional transactions with a weighted average price of $1.196m– Sales volumes remain at low levels throughout the CBD in line with limited stock– ‘Skytower’ recorded the most sales, with five apartments being sold off-the-plan during the quarter 2018. The other remaining two sales occurred in ‘Mary Lane’.– There are 268 new apartments for sales throughout the CBD precinct. Place residential research director Lachlan Walker.Two-bedroom apartments priced between $750,000 and $900,000 accounted for the most sales during the September quarter.Independent consultancy Urbis recently put out its own Brisbane apartment report for the third quarter, which found interstate investors were driving the recovery in the market, making up 54 per cent of all sales.Urbis director Paul Riga said stable prices, tightening vacancy rates and relatively strong yields had been key attractions for investors.Mr Riga said the Brisbane unit market had been “resilient” in the face of oversupply fears.More from newsParks and wildlife the new lust-haves post coronavirus15 hours agoNoosa’s best beachfront penthouse is about to hit the market15 hours agoThe research comes as new figures from the Australian Bureau of Statistics released by Commsec this week revealed the average home size is shrinking due to the rise of apartments, with around half (46 per cent) of all residential buildings being units.CommSec chief economist Craig James said increasing demand for apartments and townhouses in desirable areas of Sydney, Melbourne and Brisbane was helping to push down average floor sizes.“Generation Y, millennial couples and small families want to live closer to work, cafes, restaurants, shopping and airports and are giving up living space for better proximity to these desirable amenities,” Mr James saidINNER BRISBANE APARTMENT MARKET SEPTEMBER QTR 2018last_img read more

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Brisbane’s best prices in years as homes listed at $300,000

first_img22 Doyle Street, Silkstone, was the cheapest of the three houses listed under $300,000. There are shutters on the windows.Described as easy to maintain, the property was built in the mid 90s, made of brick and concrete and has airconditioning, built-ins in all bedrooms, a separate internal laundry, window shutters, a garden shed, covered front entry and an entertainment area at the rear. 10 Trevino Place, Wacol The house was described as “easy to maintain”. 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 It was described as a “good solid home”. The property was recently painted inside and out.“Ready to move into now, you will be impressed with just how neat and tidy this lovely home is and the lifestyle it offers. Flood free and on a great 673sq m block, this very neat and tidy three bedroom home has been extensively renovated and is ideal for a first home or secure a good tenant at a terrific rental.”All bedrooms have built-ins, the floors are polished timber and the property has a rear undercover area plus a separate powered storage shed.The house was also recently painted inside and outside with new light fittings. The Wacol property has three bedrooms, two bathrooms and parking for two vehicles.It was aimed at a variety of buyers including those “trying to get a foot into the property market”, downsizers or people who were “looking for the next investment that’s not a townhouse or an apartment”.“This three bedroom home offers you a comfortable reverse cycle airconditioned living, flowing timber floorboards and a well appointed kitchen with a living area that flows out onto the undercover entertainment area. The block is fully fenced for children or fur babies which is big enough but not so big that you are spending your weekends maintaining it.” 8 Wau Road, Darra 8 Wau Road, Darra, was listed at offers over $299,000. FOLLOW SOPHIE FOSTER ON FACEBOOK The third three bedroom house priced at offers over $299,000 has a much bigger yard than the other two — at 673sq m. The single bathroom, single car park house was described by agent Allan Armitage of 4069 Real Estate — Kenmore as a “great buy”. 10 Trevino Place, Wacol, was listed at offers over $299,000. 22 Doyle Street, Silkstone, has been listed at $290,000 negotiable.These three bedroom houses have been listed at $300,000 each in some of the best pricing Brisbane’s west has seen in years. 22 Doyle Street, Silkstone The lowest price of three houses that have hit the market just under the $300,000 mark was at 22 Doyle Street, Silkstone — a property that was listed at $290,000 negotiable by Public Trustee Brisbane agent Paul Doyle.He listed the three bedroom, single bathroom, single car park house as a “solid, secure opportunity” on a 400sq m block. Another three bedroom house — this time in Wacol — was listed at offers over $299,000 and has two bathrooms and parking for two cars.Agent Joanne King of Coronis described it as a “good solid home” that gets rental of $335 a week, with council rates at $395.10 a quarter.“Net ROI is approximately 4.5 per cent,” was how she listed it.More from newsParks and wildlife the new lust-haves post coronavirus14 hours agoNoosa’s best beachfront penthouse is about to hit the market14 hours ago The block is much bigger than the other two at 673sq m.last_img read more

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Cottage transformed into grand Queenslander

first_imgThe house was extensively renovated.A few years later, and with their now young daughter in tow, they bought the original 1910-era Queenslander cottage, and embarked on an extensive renovation with John Thelander of Thelander Architecture and Interiors.“It had never even been painted inside. We lifted it, knocked off the small kitchen at the back and built underneath,” Mrs Molesworth said.“At the time it had a small front veranda but we had to re-roof the house so we added the wraparound veranda.“We opened up all of the rooms so they op Mrs Molesworth said the renovation brief had been to capture the natural light and breezes, while in keeping with the character of the property.“It is very much a classic renovation,” she said. “The front facade, the flooring at the front, it’s all original.” This area opens to a covered outdoor entertaining area and pool.Downstairs there are two more bedrooms, with built-in wardrobes, a rumpus room, laundry, bathroom and double garage. A cottage at 70 Vale Street in Wilston was transformed in to a grand Queenslander by its owners. Their son was born in a small cottage across the street, but it wasn’t until after their daughter was born that they moved in to the house that they would call home for more than 20 years.Jane and Nigel Molesworth bought 70 Vale St in Wilston in 1998, having moved away from the suburb for a few years after their son was born.center_img Now looking to downsize, Mrs Molesworth said it would be hard to say goodbye to the home. She said she had enjoyed watching the kids play in the back garden, on the verandas and grow up in the home.“Our kids walked to school, the village, it has been such a great area for a family,” she said.“The house itself is great because with a young family you can all live upstairs but when the kids get older, they have that space downstairs.“And we spent a lot of time in the garden, making it very green and very private.“There are a lot of happy memories here of family gatherings … it will be quite hard to say goodbye to be honest.” ened on to the veranda via french doors.”The five bedroom, three bathroom house sits on an elevated 810sq m block with inground pool, established gardens and outdoor entertaining spaces.More from newsParks and wildlife the new lust-haves post coronavirus14 hours agoNoosa’s best beachfront penthouse is about to hit the market14 hours agoThe home has plenty of character features including a double-sided fireplace, VJ walls, timber floors, sash windows and high ceilings.Upstairs, there are three bedrooms including the main suite with an ensuite, walk-in wardrobe and views overlooking the gardens and pool.There are also the formal dining and living rooms on either side of the original corridor, which lead to the new open-plan kitchen, living and dining space.last_img read more

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Selling Houses Australia guru Andrew Winter to take unsold Gold Coast home to auction

first_imgAndrew Winter is taking his Gold Coast home to auction this Spring. Picture: Nigel HallettSelling Houses Australia guru Andrew Winter and wife Caroline are now set to take their unsold five-bedroom Gold Coast home to spring auction. The popular renovation show host first listed last summer, and has recently moved to his third agency for the Sanctuary Cove home. More from news02:37International architect Desmond Brooks selling luxury beach villa10 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag1 day agoWow. It was initially listed for $3,995,000 in January. The Winters have are off to Mermaid Beach where they’ve spent $1,525,000 on a single-storey renovation project. Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 0:50Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:50 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD540p540p360p360p270p270pAutoA, 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 Rate1xFullscreenTop tips for sellers in Spring00:50 The Winters paid $1.9 million in 2017 for the property.Amir Mian Prestige agent Charlon Delos Angeles has scheduled a September 15 auction. The Winters paid $1.9 million in 2017 for the property they have since transformed from a dated holiday home into an all-white villa with a terracotta roof. last_img read more

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Coastal home with a tropical vibe hits the market

first_img Classic beauty shines after epic renovation “I really liked the concept of an outdoor bath. It’s not connected to water but you can just fill it up with the hose. In summer I would jump in and out of it during the day. It would also make a beautiful water feature.” Set across two levels, the home has an open-plan kitchen and dining area and a living room with timber floors and doors opening to the large covered deck. The upstairs living space opens to the big deck. Picture: supplied.Two of the three bedrooms have built-in wardrobes and there is a bathroom and toilet upstairs.Downstairs there is a multi-purpose room with kitchenette and toilet. A bathroom is off the utility room and there is a study opening to the outdoor bath area and patio. More from newsParks and wildlife the new lust-haves post coronavirus10 hours agoNoosa’s best beachfront penthouse is about to hit the market10 hours ago“I like the downstairs area– it’s so calming. It has a beautiful feel about it and I painted it white,” Ms Lyons said. “It also has beautiful breezes that come through there.” The downstairs area is light and bright. Picture: supplied.The home is on a 574sq m corner block with side access, established gardens and a big shed. “This is a good home for someone who likes nature,” Ms Lyons said. “There is a wildlife corridor that backs onto (the neighbourhood) that is filled with rosellas, parrots and ducks, which walk up the street. There is also a walking path that takes you all the way to Hornibrook.” The property is on the market through Loren Mulholland of Abode Properties. The home at 12 Duke Street, Clontarf. Picture: supplied.Shelley Lyons has trans-formed her Clontarf home into a Balinese-inspired oasis and is now ready to pass it on to new owners. Ms Lyons bought 12 Duke St more than four years ago and set about adding her stamp to it. “I built in downstairs, creating a massage clinic space for myself down there. It has a studio kitchen, bathroom and toilet,” she said. “I’ve enclosed (the front of the home) in with timberwork to create a Balinese feel and cut down on heat. I painted the house, put in garden beds and I did the outdoor ‘bathroom’. The outdoor bathtub would also make a great water feature. Picture: supplied. MORE NEWS: Private acreage close to the beachcenter_img Australia’s biggest housing jump in 16 yearslast_img read more

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