Buyers Deslea Sneddon and Marshall Vann were extatic to be the new owners of 9 Faversham Street, Wooloongabba. Photo: Mark Cranitch.In other results, the architectural river-park fronting wonder at 71 Ormadale Rd, Yeronga achieved a brilliant results of $2.5 million with the Victorian buyer delivering a knockout final bid.It was quite a duel that saw the southern couple secure a Brisbane base.More from newsMould, age, not enough to stop 17 bidders fighting for this home4 hours agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor4 hours agoAt the other end of the quality scale, 33 Baynes St, Highgate Hill was a renovator set on a 556sq m site with a double street frontage.Despite the obvious need for upgrades, it sold under the hammer for $1.225 million after 52 bids were made during the course of its auction.Up north, Gordon McDonald of The Auction Group reports a three-bedroom top-floor unit with unbelievable river views at 4/3 Russell St Noosaville sold for $2.025 signalling another strong prestige sale for Southeast Queensland’s northern beaches.“It was a really tightly held, small complex of five,” Mr McDonald said.“Only a couple of them have sold over the last 28 years.”Damon Lewis of Ray White New Farm said despite 25 Baldwin St Ascot passing in today for $1.95 million, he expects a signed contract is imminent.The five-bedroom, two-bathroom, fully renovated home on 658sq m attracted a lot of interest according to Mr Lewis.“We had a big crowd,” he said.Mr Lewis said they’re negotiating with the top bidder, but with four other potential buyers waiting on the outcome, he’s sure to have the property away soon.In Toowong, Bryony O’Neill of Bryony O’Neill Estate Agents had more luck.Ms O’Neill had just two registered bidders keen on 33 Curlew St, but that was all she needed to see a successful sale under the hammer. Auctioneer, Andrew Degn got away 9 Faversham Street, Wooloongabba today. Photo: Mark Cranitch.It was a mixed bag for auctioneers at Brisbane events today, and while some sellers were celebrating their good fortune, others will have to put the bubbly back on ice for a few more days.‘Location! Location! Location!’ was the catchcry at 9 Faversham St, Woolloongabba.The highset timber cottage had all those cracking early 1900s features that buyers love with VJ ceilings and linings, and hardwood floors.The home was also set on a comparatively massive 617sq m block.But it was the location that really drove demand for the home, said Andrew Degn, agent and auctioneer with Place Real Estate.“Close to city and close to schools — it’s a good spot. In this little enclave here it’s very rare to get a house of this calibre available,” he said.Mr Degn said local buyers had shown the most interest.“Mostly local families want to live in this location on a nice big flat family block with a good view and good aspect, and there’s been lots of money spent in this street so it’s growing (in value).”While there were more than five registered bidder, only three managed to be part of the action.An opening bid of $700,000 was the beginning of $20,000 increments until things started to tighten around $820,000.It was then back and forth between two bidders until at $875,000, a new buyer entered the fray.A tussle ensued and it was only at $932,000 the hammer came down and the new buyer, who had been the first bidder, was congratulated.Successful bidder, Marshall Vann, immediately apologised to the young man who’d missed out, but he and wife Deslea Sneddon were over the moon to have the home under contract. The veranda at 33 Curlew St, Toowong will be a great spot for the new owners to relax.The beautiful lowset three-bedroom Colonial with giant verandas and heritage features achieved a very impressive $1.385 million at auction.“They’d made multiple inspections of the property — both parties — so it was good — I’m very pleased with the result,” Ms O’Neill said. Follow Kieran Clair on Twitter at @kieranclair
Fitch Ratings has introduced a scoring system to show how environmental, social and corporate governance (ESG) factors affect the agency’s individual credit rating decisions.The ESG “relevance” scores “transparently and consistently display both the relevance and materiality of ESG elements to the rating decision”, Fitch said.It claimed the move filled a market gap by publicly disclosing how an ESG factor directly affected a company’s current credit rating.Fitch also declared that it was the first credit rating agency “to systematically publish an opinion about how ESG issues are relevant and material to individual entity credit ratings”. The rating agency has initially made all of the scores publicly available, with a plan to subsequently maintain and publish the scores on an ongoing basis as an integrated part of its credit research for individual issuers.The scores – on a scale of 1-5 – were to be introduced across all asset classes, Fitch said, although it has started with non-financial corporates.A score of ‘1’ or ‘2’ indicates no impact on the credit rating – because a given issue or topic was considered irrelevant either to a sector or to the entity with the sector.A ‘3’ score either indicates that a particular ESG issue has a minimum risk impact, or that the potential credit impact had been neutralised or diluted because the issuer was actively managing the issue effectively. “We lumped those two together because we thought, from an investor perspective, if we can highlight things that are potentially a risk but they’re being managed so they’re not a financial risk then there’s value in that,” said Andrew Steel, global head of sustainable finance at Fitch.According to Richard Hunter, global head of corporate ratings at Fitch, a ‘4’ score indicated that an ESG risk was beginning to affect the discussion about a credit rating, while a ‘5’ score was for “the very rare cases where a rating action was specifically driven by an ESG factor”.According to the rating agency, the scores would “enable investors to agree or disagree with the way in which we have treated ESG at both an entity and a sector level, assist them in making their own judgements about credit rating impact, and enable them to fully discuss all aspects of the credit with our analytical teams”. Expectations managementFitch emphasised that the scores “do not make value judgements on whether an entity engages in good or bad ESG practices”.While “some stakeholders would clearly like views and opinions which extend beyond credit, and address different timeframes and considerations”, Fitch’s focus was “purely on fundamental credit analysis”.In an FAQ document accompanying the announcement, the rating agency added: “Asset managers and asset owners are in the business of managing and directing funds, whereas our role is to provide rigorous, independent and insightful commentary on the credit risks surrounding an entity with respect to its ability to repay debt.“Providing this information in a transparent and challengeable manner is a significant step, but remains just a part of the overall considerations that investors are faced with when deciding how to allocate funds.”
By Edward AnschutzSTURGEON BAY, Wis. – Thunderhill Raceway will hold a drivers’ meeting on Friday, Dec, 13 at The Draft Haus Sports Bar beginning at 7 p.m. Promoter Woody Wodack will have Sonny’s Pizza on hand along with snacks. We are looking for everyone’s input as we plan to make 2014 the best season yet.Lots of big news regarding several track improvements and possible contingencies. We ask pit spots be paid before or at the meeting. Any pit stalls that remain unpaid or open will then go to a lottery of drivers who want to purchase them. Front row spots $100, with second and third rows being $50. The 2014 Street Stock rules will be up for discussion. Several other items will be addressed at the meeting include schedule, pit pass costs and general track rules. We hope to see you all there even if its just to have some great food and a few adult beverages.For GPS users the Draft Haus is located at 901 Egg Harbor Rd. Sturgeon Bay.Five divisions do battle every Saturday night through the summer. IMCA Xtreme Motor Sports Modifieds, IMCA Sunoco Stock Cars, Karl Chevrolet Northern SportMods, IMCA Sunoco Hobby Stocks and Street Stocks will compete on the 1/3rd-mile clay oval.For more information, please visit the track’s website at www.racethunderhill.comThunderhill is located at the John Miles Fair Park on Sturgeon Bay’s east side. Pit gates open at 3:30 p.m. and racing starts at 6 p.m. For your social media outlet like Thunderhill Raceway on Facebook and follow us on Twitter.