Bargain of the Week is in Harristown, ToowoombaMore 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 investor6 hours agoHarristown has a population of 8,491, sitting only four kilometres south west of the Toowoomba CBD.Officially named in 1981, believed to be in honour of a Brisbane businessman, George Harris, the estate first opened in 1902 with the local school starting in 1911.If a life in the ranges sounds appealing, then Harristown might just be the suburb for you.Here are three more homes on the market for under $250,000. 35 Justin Street is a three-bedroom, two-bathroom beauty on the market for $249,000 with updates already started.Sitting on a generous fully fenced 642sq m block the home is open for inspection tomorrow from 9:30am to 10am.If low maintenance townhouse living appeals then 2/1 Zimmerle Street might be more your style.The two-bedroom, two-toilet, air-conditioned home has reasonable body corporate fees, is within walking distance to local shops and is on the market for offers over $249,900.Or maybe you would prefer a three-bedroom unit for $239,000 at 5/343 West Street.The unit is at the rear of the complex for added privacy and boasts a roomy kitchen with breakfast bar and views of the yard. This week’s Bargain Buy is in Harristown, Toowoomba where this three-bedroom home sold for $249,000.PICTURESQUE Toowoomba is hiding some bargain buys with three-bedroom homes for under $250,000, brilliant for the first-home buyer or investor.This home at 11 Talbot Street in Harristown sold on Monday for $249,000, only a short stroll from the local school.Close to shops and parks the original family home with tandem carport, set on 506sq m is in a suburb where the median three-bedroom house price is $309,000, renting for $295.
The UK’s Pension Protection Fund (PPF) has raised £150m (€206m) from the sale of a property company previously owned by the industry-wide schemes for the coal sector.The lifeboat fund agreed to sell 75.1% of Harworth Estates Property Group to Coalfield Resources (CfR), which traded as UK Coal prior to an ultimately failed restructuring meant to save the remaining UK-based coal pits from closure.As part of the deal, the PPF will be issued with a 25% stake in Coalfield and paid a further £97m in cash.The sale price of £150m accounts to a 20% discount on Harworth’s net asset value at the end of 2014. Coalfield chairman Jonson Cox welcomed the deal, noting it would complete the firm’s transformation into a brownfield property developer.“We will be in a strong position to take full advantage of our proven skills in the property and regeneration markets and to deliver value,” he said.“I would like to thank our existing and new shareholders for their support in achieving an important milestone for the business.”Malcolm Weir, the PPF’s head of restructuring and insolvency, was also positive about the agreement.“We are pleased that, by working closely with CfR, we have been able deliver a significant uplift in value from the Harworth Estates holding for the PPF,” he said. “We look forward to continuing to work with CfR to generate further returns for the PPF and other shareholders from the PPF’s ongoing shareholding in CfR.”Harworth Estates was established by UK Coal in 2012, with the Industry-Wide Mineworkers’ Pension Scheme (IWMPS) and the Industry-Wide Coal Staff Superannuation Scheme (IWCSSS) granted majority shares in the new firm in lieu of further deficit contribution payments. The restructure was signed off by regulators in an attempt to save UK Coal from insolvency.However, the company eventually went insolvent, triggering the schemes’ entry into the PPF, after a fire closed one of its coal pits.
Because Sanoma is also active in Belgium, the working group – assisted by consultancy Focus Orange – will also assess whether a cross-border pension plan would improve its participants’ pension prospects.Several companies have opted recently to relocate their Dutch pension funds to Belgium.The third possible alternative would be to place pension rights with an insurer, which, unlike with an APF, would rule out rights cuts. The working group concluded, however, that transferring all pensions to an insurer would be too costly and limit the potential for indexation.It said it was aiming to complete its survey in the second quarter, and that it wanted to consult market players such as insurers during the next phase of its investigation.The scheme’s board said it wanted to make a final choice this autumn, so as to be able to switch to new arrangements quickly – possibly as soon as next year.Since January, Sanoma’s employees have been accruing their pension in a collective defined contribution plan with the €21.5bn Pensioenfonds PGB. The €600m Dutch pension fund of publishing company Sanoma is considering joining an APF general pension vehicle, relocating to Belgium or exploring other possible options for workers and pensioners.On its website, the pension fund, closed to new entrants on 1 January, said a working group would look further into the three remaining options.The scheme’s board said it did not intend to establish its own APF, preferring to join an existing one, either in a separated compartment or in a section combine with other schemes with a similar asset mix, risk attitude or indexation target.Joining an APF, however, would be likely to reduce costs, it said, while the scheme’s assets would be ring-fenced.