Fourth price drop for distinctive Gold Coast castle

first_imgA contract “above the $5 million mark” was negotiated in the hours after but that deal was still yet to be inked.Amir Prestige Property Agents’s Ivy Wu, who is marketing the property alongside Isaac Kim, said the contract was still being negotiated but they decided to relist the property with a $5.25 million price guide for other interested buyers. The castle has had a fluctuating price guide. The current price tag is $2.15 million less than the initial price attached to the property in 2017. MORE NEWS: Suburb’s first residents sell up MORE NEWS: Quaint house skyrockets almost $2 million past expectation The iconic property, known as Villa Verona, has had a fluctuating price tag since it hit the market in November 2017, according to CoreLogic. First an expressions of interest campaign was held before it was listed with an asking price of $7.4 million. The price guide was then slashed to $6.95 million, then dropped by a further $1 million, before jumping back to $6.295 million. During this time, multiple agents tried their hand at selling the mega-mansion. An auction campaign was used to sell the property in August when the Amir Prestige Property Agent’s duo took over the listing. The $5.25 million price tag is $2.15 million less than the vendor’s initial price hopes. More from news02:37International architect Desmond Brooks selling luxury beach villa9 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag1 day agoThe grand residence has had a multimillion-dollar makeover. The owner plans to downsize.The five-bedroom property was built by Russian couple Igor and Irina Farbitnik in 1997 before it was purchased by the builder behind the Coast’s renowned Utopia mansion, Scott Widdicombe. Mr Widdicombe spent millions refurbishing the luxury house, only leaving the structure and marble staircase untouched. The opulent offering features towering temple columns, a crystal chandelier, black granite fireplace and a pool house with an 18m heated pool, sauna, marble fountain and entertainment zone with a bar and gas firepit. The owner is selling to downsize. Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 1:01Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -1:01 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 Rate1xFullscreenAustralian homes fit for a celebrity01:01center_img A regal residence at 1-3 Queen Guineveres Place, Sovereign Islands, now has a $5.25 million price guide.A REGAL residence that has been on the market for almost two years has had its multimillion-dollar price tag slashed for a fourth time.It is now listed for more than $2 million less than the initial asking price.The distinctive Sovereign Islands castle went under the hammer earlier this month and passed in on a $4.65 million bid. RELATED: Castle and property guru Andrew Winter’s house pass in at auctionlast_img read more


SA climbs in mining investment ranking

first_img2 March 2012 South Africa moved up 13 places to 54th out of 93 jurisdictions in the latest influential Fraser Institute ranking of the world’s most attractive regions for mining investment. In the previous survey, South Africa was ranked 67th out of 79 jurisdictions. The Fraser Institute’s 2011/12 Survey of Mining Companies, released in February, is based on the opinions of mining executives representing 802 mineral exploration and development companies on the investment climate of 93 jurisdictions around the world. The companies participating in the survey reported exploration spending of US$6.3-billion in 2011 and $4.5-billion in 2010.‘Reflection of work done by the minister’ Chamber of Mines of South Africa chief executive Bheki Sibiya said the views of mining executives were important in measuring a country’s relative attractiveness as a mining investment destination “as these executives have global perspectives on policy issues affecting mining”. Sibiya said South Africa’s rise in the rankings was a reflection on the work done by Mineral Resources Minister Susan Shabangu and her department to improve the country’s investment attractiveness. Finance Minister Pravin Gordhan’s allocation, in his 2012/13 national Budget speech, of increased resources for the development of ports and rail infrastructure, which were critical to the mining industry, would complement the country’s improved policy environment, Sibiya said.Plenty of room for further improvement At the same time, Sibiya cautioned that much work still needed to be done in South Africa’s mining sector to address community-related issues, the administration and interpretation of existing regulations, as well as the duplication of statutes regulating the mining industry. He said the fact that these were outlined in the Fraser Institute survey showed that they were considered as constraints by the investment community. Sibiya stressed that the mining industry was “ready and willing to work with the government in strategies to reduce unemployment, poverty and inequality”. Fred McMahon, Fraser Institute vice-president of international policy research and coordinator of the survey, said in a statement accompanying the survey that the key to establishing a positive investment climate was “for governments to have a clear, sensible vision for mining policy and to stick to it. “By upholding the rule of law, respecting negotiated contracts and property rights, and eliminating risk with regard to tax increases and red tape, nations can attract mining investment and reap the economic and social benefits of new jobs and increased prosperity.” SAinfo reporterlast_img read more


BAHAMAS House Passes Constitution Amendment BillResults in FirstEver Independent Office of DPP

first_imgFacebook Twitter Google+LinkedInPinterestWhatsApp#Bahamas, November 4, 2017 – Nassau – The passage of the Constitution (Amendment) Bill, 2017, Thursday (November 2) in the House of Assembly will result in the creation of the country’s first-ever Independent Office of the Director of Public Prosecutions (DPP).   The now Constitution (Amendment) Act, 2017, will move to the Senate for debate and passage. Prime Minister, Dr. the Hon. Hubert A. Minnis, whose Administration foreshadowed the Bill during the Speech From the Throne in May, said Thursday’s development was “long overdue.”The Prime Minister said the legislation is part of his Administration’s programme for transforming the country’s political culture, while simultaneously reforming the culture of governance.   The legislation, Prime Minister Minnis continued, deepens democracy in The Bahamas and advances the liberty of citizens and basic justice.Prime Minister Minnis said the creation of an Independent Office of the Director of Public Prosecutions will also help to enhance the rule of law in The Bahamas by removing the unnecessary influence of political figures.The Prime Minister said the Government is creating a new “architecture of governance” that will lead to modernization and reform in areas such as promoting transparency ad accountability in all areas of government –from the awarding of contracts to incentives for investors; public finance; policy planning and implementation; combating official corruption and the efficient delivery of public services.“This legislation is in keeping with international best practices and norms,” Dr. Minnis said.   “It is long overdue.   The Bahamas has been lagging in this area for far too long.  This reform enhances our democratic culture.  It deepens our democracy.  It advances the liberty of citizens and basic justice.“This legislation is part of my Government’s programme for transforming our political culture and reforming the culture of governance.”The Bill sought to amend the Bahamas Constitution to provide for the establishment of an Independent Office of the Director of Public Prosecutions. In particular, the Bill sought to amend Article 78 of the Constitution to provide for the creation of the Office of the Director of Public Prosecutions (DPP).By virtue of the creation of the Office of DPP, the Bill further sought to confer all powers relating to criminal prosecutions previously vested in the Attorney General.“The Director of Public Prosecutions shall have power in any case in which he considers it desirable so to do, to institute and undertake criminal proceedings against any person before any court in respect of any offence against the law of The Bahamas; to take over and continue any such criminal proceedings that may have been instituted by any other person or authority and to discontinue, at any stage before judgment is delivered, any such criminal proceedings instituted or undertaken by himself or any other person or authority.“Under the former Government, there was an abuse in the grant of the nolle prosequi, including a nolle prosequi for a former client of the former Attorney General.  We saw high-profile cases related to criminal prosecutions dropped with little to no explanation.“The legislation before us is intended to limit the abuse of power,” Prime Minister Minnis said.By: Matt Maura (BIS) Facebook Twitter Google+LinkedInPinterestWhatsApp Related Items:last_img read more