Tim Gurner expects Brisbane unit rebound as soon as mid next year

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first_imgVideo Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 2:02Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -2:02 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD540p540p360p360p270p270pAutoA, selectedAudio Trackdefault, 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 Rate1xFullscreenSneak peak: FV building02:02PROMINENT property development Tim Gurner has sunk billions into the apartment market across the major capitals, and he believes Brisbane will be ready for its second unit surge within a year.Mr Gurner, who has just completed the $600m iconic FV building in Fortitude Valley which sold out within 12 weeks in 2015, expected the next wave of buildings to begin when construction costs drop mid next year.He said having supply come to a stop was a good thing,“The market dictates what it wants and supply has stopped – it hasn’t slowed, it’s stopped – which is a great thing. Everyone who’s bought is going to do really, really well because there’s not going to be that supply that everyone talked about.” The FV building has reshaped Fortitude Valley.He believed new Brisbane apartments such as those in his FV building would not have issues attracting tenants.More from newsMould, age, not enough to stop 17 bidders fighting for this homeless than 1 hour agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investorless than 1 hour ago“The tenant interest we’ve had in here is strong,” he said. “We can’t even cater for the number of people that want to get through. There is a huge amount of occupancy demand.”“I am not interested in doing a product that’s mass market or typical. I expect our owners to do really well and that’s why we’ve taken it to the level we have. We invested another $9m here on top of what we originally thought through all the amenity levels and apartments. It’s a bit of a love, I wanted to create a space better than anything in the market and then we wanted to take it up again to an international luxury hotel standard.” FV has a luxury hotel feel.Mr Gurner said Brisbane “was a little bit too hot at one point” more than a year ago.“I think that reflected in construction prices that went through the roof, but now we would be looking to launch projects up here in mid next year when construction pricing comes back a bit.”His next Brisbane project set to launch in 2018 will have 200 apartments next door to FV.“And we’re looking again now,” he said, for more sites in Brisbane.last_img read more

Russia approves use of military in Ukraine

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first_imgThe Associated PressThe Crimean peninsula, the main flashpoint in Ukraine’s crisis, is a pro-Russia part of Ukraine separated from the rest of the country geographically, historically and politically. It also hosts Russia’s Black Sea Fleet. Ukraine has accused Russia of invading it. Here’s some key information about the region:ON THE BLACK SEAThe Crimean Peninsula juts into the Black Sea, all but an island except for a narrow strip of land in the north connecting it to the mainland. On its eastern shore, a finger of land reaches out almost to Russia. It’s best known in the West as the site of the 1945 Yalta Conference, where Soviet dictator Josef Stalin, President Franklin D. Roosevelt and British Prime Minister Winston Churchill sealed the postwar division of Europe.WHY IT’S PART OF UKRAINEIt only became part of Ukraine when Soviet leader Nikita Khrushchev gave the peninsula to his native land in 1954. This hardly mattered until the Soviet Union broke up in 1991 and Crimea ended up in an independent Ukraine. Despite that, nearly 60 percent of its population of 2 million identify themselves as Russians.THE BLACK SEA FLEETOn Crimea’s southern shore sits the port city of Sevastopol, home to the Russian Black Sea Fleet and its thousands of naval personnel. Russia kept its half of the Soviet fleet, but was rattled in 2009 when the pro-Western Ukrainian President Viktor Yuschenko warned that it would have to leave the key port by 2017. Shortly after pro-Russian Viktor Yanukovych was elected president in 2010, he agreed to extend the Russian lease until 2042. Russia fears that Ukraine’s new pro-Western government could evict it.THE TATARSThe 1991 fall of the Soviet Union also brought the return of the Crimean Tatars, the native hosts of the land that fell to Russia under Catherine the Great in the 18th century. They were brutally deported in 1944 under Stalin. The Crimean Tatars, who now make up about 12 percent of its population, have sided with the anti-Yanukovych protesters in Kiev who drove his government from power.last_img read more