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September 28, 2020 | |Post a Comment

first_img127 Sunhaven Blvd, BurdellMore from news01:21Buyer demand explodes in Townsville’s 2019 flood-affected suburbs12 Sep 202001:21‘Giant surge’ in new home sales lifts Townsville property market10 Sep 2020Mark Pritchard from Ray White Julie Mahoney sold the home and said the people who bought it only lived five houses down the road.“It was a local family and they loved the area and loved the fact it was a beautiful ex-Michael Case display home,” he said.“It really had that wow factor with the beautiful corner piece of glass that looks straight through to the pool. “The buyers have mature kids and it’s a great home if you need that family separation.”The immaculately presented house uses architectural features to provide plenty of natural light in the living areas. An in-ground swimming pool caps off the multiple outdoor entertaining areas. A HOUSE in Burdell has sold for $610,000 – the highest price recorded in the suburb in more than a year.127 Sunhaven Blvd was snapped up a by a family who were already living in the area with the sale settling last week.The four-bedroom, two-bathroom, two-car house is a former Michael Case display home and is located in the North Shore Estate. 127 Sunhaven Blvd, BurdellThe master bedroom has a luxurious ensuite and a walk-in wardrobe with custom cabinetry. There is also a media room that could be used as a children’s retreat near the three guest bedrooms.The spacious home has around 300sq m of under-roof space.last_img read more

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first_imgThe solid concrete home has a mix of renovated and original features with three bathrooms.Bidding started at $4 million and moved to $7 million in two minutes. The rest of the bidding occurred privately between two bidders and the sellers, with auctioneer Haesley Cush keeping the crowd on the pool deck updated.After 20 minutes the bid had been raised to $7.5 million.Ten minutes later a further bid of $7.75 million was made privately and the house was officially put on the market for sale.Mr Cush resumed the public auction but with no further bids, it was sold to the Seymour family. Eight bidders took the 873sq m property to auction yesterday in a 40-minute showdown before a crowd of more than 80 on the pool deck. Four of the bidders were active. Brisbane’s strong prestige market secures spot on top 100 for first time The property has direct water access and is two doors down from the Sydney St Ferry Terminal.“This is a great sale for Brisbane and the prestige market and a good sign of things to come,” he said.The sale supports Brisbane’s 2019 debut on an international index which ranks cities according to the growth of their luxury housing market, with Brisbane outperforming Melbourne and just behind Sydney, to claim the 31st spot. It’s been held by the one family for 20 years, now this riverfront property has sold for a record price.A MULTI-level residence on the Brisbane River sold under the hammer on Saturday for $7.75 million, making it the fifth richest house in Brisbane City.The five-bedroom house with granite and marble staircases, at 39 Griffith St, New Farm, was last sold in 1999 for $1.2 million.With his grandfather, Queensland developer Kevin Seymour, on the phone, Ben Seymour made the winning bid from behind the pool gate, with a crowd of more than 80 on the connecting pool deck. MORE REAL ESTATE STORIES Queensland’s top sales of all time More from newsParks and wildlife the new lust-haves post coronavirus14 hours agoNoosa’s best beachfront penthouse is about to hit the market14 hours agocenter_img Brisbane’s prestige market grew by 3.1 per cent in 2018.The Prime International Residential Index recorded a 3.1 per cent growth in Brisbane’s luxury housing market last year.RELATED: The upstairs lounge room where sellers Allan and Glenice Mein were waiting while the auction took place on the pool deck below them.The property’s medium density zoning attracted homeowners, investors and developers from Melbourne, the Gold Coast, and Brisbane including the neighbouring Gambaro family, icons of the Brisbane restaurant scene, and the electrician who worked on the original build in the early 1980s.“In its day it would have been one of the most luxurious homes, and it’s built like a brick boatshed,” the electrician said.“It was the biggest house I ever worked on and this is my first time back.“The chandeliers themselves cost as much as a house.” From the back of the pool area, there are city views or you can look straight across to Shafston House at Kangaroo Point.Developers, Allan and Glenice Mein, raised their children and 8 grandchildren at 39 Griffith St. At one time, two of their children and six grandchildren were living in the house with them.Mr Seymour met the couple after the auction.“This is a fantastic property, a fantastic home,” he said.“You must have many great memories here.”Mrs Mein shook his hand warmly.“You were just so relaxed and professional,” she said to him.“You weren’t like I was.“Will your family move in here? I hope they do because it is a fantastic place.” The blue pearl marble staircase at the front entrance.Ray White New Farm principal Matt Lancashire said the result made it the top residential auction sale in Queensland. >>>FOLLOW THE COURIER-MAIL REAL ESTATE TEAM ON FACEBOOK<<<last_img read more

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first_img TV celebrity Shaynna Blaze’s quirkiest makeover The home has been in the family for four decades.The former squash champion also added a bar room next to the pool and built in the garage to create a dining room.“My fondest memories are of entertaining here. Mainly because of the pool area and bar room at the back we’ve been able to entertaining a lot,” she said. More recently Ms Irving has updated the kitchen, bathroom and carpets. “(The home) has the most beautiful floorboards you could imagine, lovely polished timber floors,” she said.Built in the late 1960s, the well-maintained property includes four good-sized bedrooms, a family bathroom, a laundry with second toilet and a spacious living room. Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 0:58Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:58 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD432p432p216p216p180p180pAutoA, 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 Rate1xFullscreenHow much do I need to retire?00:58 MORE REAL ESTATE NEWS Ms Irving said she would be sad to say goodbye to her home of more than four decades but the time was right to move on to a retirement village. “When I bought (the home) I knew I wanted to be in the area,” she said. “As soon as the gent showing me this place brought me here, I said this is for me. “I’ve been happy ever since.”More from newsParks and wildlife the new lust-haves post coronavirus13 hours agoNoosa’s best beachfront penthouse is about to hit the market13 hours agoMs Irving said one of the first things she did once the home was hers was to put in a swimming pool, which proved a hit with Elizabeth and her school friends from Yeronga High School. “To me it’s an ideal home for a couple with say two children,” Ms Irving said. “It is a very large house and it would be a lovely family home.“I think Liz was probably one of the only children on the street when we first moved here. “But a lot of people who were here when I bought have become older and moved on and now there are a few more young families around.” The property at 41 Orient Rd, Yeronga is being marketed by Darren Cosgrove of Place Woolloongabba for offers in the $700,000s. 41 Orient Rd, Yeronga, has hit the market looking for offers in the $700,000s.TWO generations of Australian sports stars have called this unassuming property home and now it’s now hit the market in Brisbane.Jenny Irving purchased the four-bedroom brick home at 41 Orient Rd, Yeronga, 41 years ago for $32,000 and moved in with her then 12-year-old daughter, Elizabeth. Ms Irving had previously represented Australia for squash and went as high as being the world number two in the sport — an amazing achievement.Then her daughter followed in her mother’s footsteps and unbelievably reached the same ranking for squash. She’s since spent the past 20 years coaching some of the world’s best squash talent. It’s time to lock your rent in now Jenny Irving’s daughter, Elizabeth during her playing days. Picture: Supplied. Budget commits to ‘most ambitious to date’ megacity Why punish the regions to save Sydney? FOLLOW COURIER MAIL REAL ESTATE ON FACEBOOKlast_img read more

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first_imgMaggie Browning and Ellie Thompson from Dendy at Coorparoo Square during first birthday celebrations in November last year. Picture: AAP Image/Renae Droop.While it’s not quite hipsterville yet, experience in inner city Brisbane has shown that demand for services such as shopping, groceries, coffee shops, and the like were high priorities for the age group.Agent Lisa Pearse-Sargeant of Ray White Ascot believes the revamped Coorparoo Square complex which included Dendy cinemas and an Aldi store was a strong point for the area.“The area is still predominantly residential with beautiful Queenslander style homes mixed with some lovely three level developments including townhouses and apartment blocks.”“The nearby new shopping complex is on the old Myer site,” she said, and “now has multiple cafes, restaurants, Aldi and Dendy with residential apartments above.”More from newsParks and wildlife the new lust-haves post coronavirus13 hours agoNoosa’s best beachfront penthouse is about to hit the market13 hours agoConstruction workers lift the original Myer signage to top the redeveloped Coorparoo Square shopping centre in November last year. Picture: AAP Image/Claudia Baxter.Among ways Coorparoo Square was changing habits in the area was free live music every Saturday in warmer months, free parking for three hours, and markets. The centre turned one at the end of November last year. According to Realestate.com.au data, rental yield for units in Coorparoo, was 5 per cent based on 829 property rentals and 176 property sales over the preceding 12 months.Ms Pearse-Sargeant has a two-bedroom apartment on the market at 310/45 Shakespeare Street — walking distance from the complex. The rise of vertical village people Edward Cullen’s mansion set for auction 310/45 Shakespeare Street, Coorparoo, will go to auction on Wednesday May 22 at 6pm. Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 0:58Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:58 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD432p432p216p216p180p180pAutoA, 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 Rate1xFullscreenHow much do I need to retire?00:58 One in five people living in Coorparoo were under classified as independent youth, that is, couples, singles or homesharers under 35.The two bedroom, two bathroom, single car garage unit was in the three-year-old Sonata building which followed a musical theme with a piano fountain and was set high on Coorparoo hill to capture city views.“The biggest feedback from buyers through the opens are proximity to the CBD (10 minutes away via the Pacific Motorway), up high so district and city views are fantastic and cool breezes.”The 108sq m unit goes to auction Wednesday May 22 at 6pm during Auctions on the Green at Eagle Farm Racecourse in Ascot. Ben Barba looks to offload Brisbane house FOLLOW SOPHIE FOSTER ON FACEBOOK Sia Cambaclis, Emma Bedsor and Emily Fitzgibbons at Christmas in July celebrations in Coorparoo Square — a revamp which has brought new life to the area. Picture: Annette Dew.Suburbia is getting its groove back — a boon for this suburb where one in five is under 35.It may be a given in the hipster suburbs like Fortitude Valley, Newstead and New Farm, but in inner suburbia like Coorparoo having independent youth as the dominant category of residents is a strong feat.According to Realestate.com.au, one in five people living in the suburb is classified as couples, singles and homesharers under 35. MORE REAL ESTATE NEWSlast_img read more

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first_imgThe pool and outdoor entertainment area are among the home’s standout features. The couple loved the neighbourhood and its proximity to the beach as well as cafes and restaurants but were moving onto another project.“We will return to the Isle of Capri though, we love this street so much,” Mr Peresa said.Belle Mason Realty agent Nick Jamieson is marketing the property with a $2.495 million price tag. It has a fresh palette with high ceilings and lots of natural light.The Peresas, who have listed the Naples Ave property on the market, bought it in 2016 with the intention of knocking down the existing house and building another.They used light colours and lots of natural materials, including stone, wood and glass, to create the two-storey house that stands today.More from news02:37International architect Desmond Brooks selling luxury beach villa11 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag2 days agoSoaring ceilings and wide windows let plenty of light in while a fireplace in the living area gives it a homely vibe. MORE NEWS: Landscape architects show flair The owners used lots of natural materials in its design, including stone, glass and wood. The property at 22 Naples Ave, Isle Of Capri, is not your typical luxury home.THE Glitter Strip’s flashy mega-mansions inspired the design of Daniela and Roberto Peresa’s Isle of Capri house – but not in the way you’d think.They served as an example of what not to do for the couple, who wanted a home that had a much cosier vibe.“The Gold Coast is very contemporary at the moment and it can be a little bit cold,” Mr Peresa said.“We have a business and a pretty busy lifestyle so we wanted a home that when we walked in was light and relaxing.” The owners wanted a place they could come home and relax in.The pool and outdoor entertainment area, theatre room and a feature wine display are among its standout features.“It really epitomises the Isle of Capri,” Mr Peresa said.Mrs Peresa said she had many favourite features of the house, with certain aspects highlighted at different times of the day.“During the day, it’s probably sitting in the lounge room and sitting outside,” she said.“At night time, just before we go to bed we sit on the balcony and have a drink – the skyline is amazing.” It is listed on the market for more than $2 million. Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 0:51Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:51 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD576p576p432p432p270p270pAutoA, 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 Rate1xFullscreenStarting your hunt for a dream home00:51 MORE NEWS: Buyer wastes no time snapping up luxury homelast_img read more

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first_img MORE NEWS: How furry friends can help sell a home A home once frequented by television and music stars at 186 Guanaba Creek Rd, Guanaba, has hit the market.A TELEVISION identity and singer from the 1980s and ’90s has listed her English-style manor for sale — a grand home that has been visited by some of the biggest names in the industry. Owner of the 8.19ha Guanaba residence Margaret Toms was a ballerina before taking up professional singing and opera. She was part of a backup group call The Review 20, appeared on shows like Sing Sing Sing, was a vocalist for big names like John Farnham and frequently appeared on Seven. TV identity from the ’80s Margaret Toms at her house in 2013.Her grand country estate at 186 Guanaba Creek Rd was built in 1989 and inspired by a house in Gone With The Wind named Twelve Oaks. Later in life Ms Toms focused her time on creating charity shows for The Smith Family and Life Education. “The Smith Family asked me would I put a show together for their 75th anniversary,” she said. “So I called my friend Tommy Tycho, who was the maestro of Australia at the time, and between us plotted our first show, which was a fundraiser.” MORE NEWS: Mansion snapped up in three days It is called Rembrae Downs.The first event was called An Evening of Stars and was held in February 1998. “I handled all the artists and Tommy handled all the musical arrangements,” Ms Toms said. “We used to hold the rehearsals for all the shows I did for the Smith Family here, there used to be 30 people or more rehearsing around my informal area.“The doors would be open, the music would flow out and echo over the valley and the roof lifting up here with the sound of music.“I came out here to retire but it was the busiest time of my life, the shows would take 12 months to produce.” It is on the market via an expressions of interest campaign.It is the first time the five-bedroom, seven-bathroom property will be offered to the market in its three decade history. The property is affectionately known as Rembrae Downs and backs onto the Coomera River. “It was a home that was planned for family so I hope a lovely family move in and don’t try to change the era this home was built for,” Ms Toms said. “I’ll be downsizing but I’m not going to anything too small because I think I will get claustrophobic.“I’ll probably be in tears for a week if it sells, I don’t really want to leave but I’m not a spring chicken anymore.” The estate is on the market under an expressions of interest campaign through Ray White Prestige Agents Robert Graham and Emma Gregory. Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 1:14Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -1:14 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 Rate1xFullscreenHow do celebrities organise their pantry? 01:15 The house was inspired by the film Gone with the Wind.center_img Together they held rehearsals and events at the grand Guanaba house.Tommy Tycho is a famed pianist, conductor and composer who work on musical productions for Australian television and recorded the version of Advance Australia Fair that is played at all major events and football games.As a result of the shows, big names from the era all frequented Ms Toms’ lavish abode for rehearsals and gatherings. The people involved included the likes of Gold Logie award winner Barry Crocker, jazz musician James Morrison, TV personality Ita Buttrose, Barry Humphries also known as his alter ego Dame Edna, comedian Bob Hope, singer Shirley Bassey and talk show host Don Lane. The country surrounds are on show throughout the home. The English-style manor is being offered for the first time since it was built in 1989. Tommy Tycho was a close friend of Ms Toms.More from news02:37International architect Desmond Brooks selling luxury beach villa10 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag1 day agolast_img read more

September 28, 2020 | |Post a Comment

first_imgCanadian ferry operator BC Ferries informed that Salish Eagle, the second of the company’s three new vessels, will officially commence service on the Tsawwassen – Southern Gulf Islands route on June 21.Salish Eagle is the second of three new Salish Class vessels that are dual-fuel and capable of operating on either natural gas or ultra-low sulfur marine diesel.The ferry arrived in British Columbia in March this year, after traveling 10,440 nautical miles from Gdansk-based Remontowa Shipbuilding.According to BC Ferries, its use of natural gas for these vessels will result in the reduction of an estimated 9,000 metric tons of carbon dioxide equivalent per year, the same as taking approximately 1,900 passenger vehicles off the road annually.“After the successful introduction of Salish Orca in mid-May, we are very excited to introduce our second new ship, Salish Eagle, into service,” Mark Collins, BC Ferries’ President and CEO, commented.The vessel, which can accommodate some 145 vehicles and up to 600 passengers and crew, is equipped with two marine evacuation systems with life rafts, smoke and natural gas detection alarms, and fire suppression systems.Salish Eagle measures 107 meters in length overall and has a service speed of 15.5 knots.Last month, BC Ferries welcomed Salish Orca, the first of three vessels, into service.In early June, Salish Raven, the third ferry, arrived in British Columbia. The ship proceeded to BC Ferries’ refit facility in Richmond to prepare for operational service in the Southern Gulf Islands in the fall.last_img read more

September 28, 2020 | |Post a Comment

first_imgThe NSW Department of Industry has just released this very interesting video update on the Eden Breakwater Wharf Extension Project.Dredging of the birth pocket and fabrication of the scour protection, conducted by the contractor Heron Construction Company Ltd., is currently underway. Environmental performance is better than expected, the department said in their announcement.The construction of the wharf extension will include dredging of up to 230,000 cubic meters of material to improve access, extending the existing wharf by approximately 110 meters, installation of berthing and mooring dolphins, installation of landside bollards and installation of minor services (lighting, power and potable water).When completed, the Breakwater Wharf Extension project will allow cruise ships up to 325 meters to berth at the wharf.The Eden Breakwater Wharf Extension project is jointly funded by the NSW Government ($32 million), Australian Government ($10 million), and the Bega Valley Shire Council ($2 million).last_img read more

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first_imgHeerema Marine Contractors (HMC) has been awarded an additional contract related to the Maersk Oil Tyra redevelopment project.Following the award of the transportation and installation contract for the processing & accommodation platform earlier this year that required the high-end lifting capacity of Sleipnir, Maersk Oil has awarded an additional contract to HMC for offshore lifting services in the Tyra East and West complexes related to the replacement of the wellhead and riser platform topsides.The scope of work comprises the removal, transportation and disposal of topsides, bridges and a jacket with a combined weight of around 17,000 mT. and the subsequent transportation and installation of various new topsides and bridges with a combined maximum weight of around 15,000 mT.The offshore operations are scheduled to be performed in 2020.“The scope of work under this contract represents a critical phase of the Maersk Oil Tyra redevelopment project and involves a number of delicate offshore lift operations. We appreciate the trust Maersk Oil has once again placed in HMC by awarding this work to us,” says chief commercial officer Harke Jan Meek.last_img read more

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first_imgCanada Pension Plan Investment Board (CPPIB) has signed agreements with compatriot Enbridge Inc. to acquire 49% of Enbridge’s interests in two German offshore wind projects – Hohe See and Albatros.Currently, Enbridge controls 49.9% stakes in the two wind farms, with Germany’s EnBW controlling the remaining 51.1% stakes.Enbridge and its affiliates will continue to manage, operate and provide administrative services to the 497MW Hohe See and the 112MW Albatros, currently under construction in the German North Sea.Concurrently, CPPIB and Enbridge have entered into an agreement whereby the two parties will form a 50-50 joint venture to pursue future European offshore wind projects. These projects may be in the early development, late development, construction or operational phase.”Through the joint venture, we will have the opportunity to grow our renewables portfolio across the European offshore wind market. As power demand grows worldwide, we will continue to seek opportunities to expand our power and renewables portfolio globally, helping to ensure the CPP Fund is well-positioned for the expected energy transition,” said Bruce Hogg, Managing Director, Head of Power and Renewables, CPPIB.The deal, which includes the acquisition of Enbridge’s stakes in select onshore wind farms in North America, is valued at CAD 1.75 billion (EUR 1.14 billion).Under the terms of the agreements, CPPIB will fund its 49% pro-rata share of the remaining construction capital required to complete the Hohe See and Albatros projects which are scheduled to come into service at the start of 2020. CPPIB’s additional capital commitment is estimated at approximately CAD 500 million, bringing CPPIB’s total commitment to approximately CAD 2.25 billion.Each of the North American and German acquisition agreements is subject to customary closing adjustments and conditions. Closing is expected to occur during the third quarter of 2018, subject to the receipt of all necessary regulatory approvals and consents.last_img read more