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

Red Sox, Xander Bogaerts reportedly agree to extension

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first_imgMORE: Watch ‘ChangeUp’, a new MLB live whiparound show on DAZNBogaerts has been a consistent offensive producer for the defending World Series champions. He set career highs in home runs (23), RBI (103), on-base percentage (.360) and slugging percentage (.522) last season. Through the first three games of 2019, Bogaerts has two hits in 12 at-bats with a home run while manning shortstop. BREAKING: The Red Sox and shortstop Xander Bogaerts are nearing a contract extension, sources said. Deal is not finalized, but is close.— Evan Drellich (@EvanDrellich) April 1, 2019Shortstop Xander Bogaerts and the Boston Red Sox are finalizing a seven-year, $132M contract extension, league sources tell ESPN.— Jeff Passan (@JeffPassan) April 1, 2019Bogaerts — who was originally expected to be a free agent after the season — joins a star-studded list of players to recently receive extensions. Kyle Hendricks, Jacob deGrom, Paul Goldschmidt and Bogaerts’ teammate Chris Sale have been extended in the last 10 days alone, while Mike Trout, Alex Bregman and Nolan Arenado received new contracts during spring training.  Xander Bogaerts is set to become a very rich man. The Red Sox and Bogaerts reportedly agreed to a seven-year, $132 million contract extension on Sunday. WEEI’s Evan Drellich first reported a deal was close, and ESPN’s Jeff Passan added further details. last_img read more