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Luxury Noosa home fetches $8m as buyers rush to cash in

first_imgThis beachfront property at 62 Tingira Cres, Sunrise Beach, has sold for $4.2 million.INTERSTATE buyers lusting after the idyllic Noosa lifestyle are forking out millions for waterfront estates, as they rush to cash out of Sydney and Melbourne’s flagging housing markets.The ink has just dried on the purchase of an ultra luxurious, waterfront home in Noosa Heads for a cool $8 million in one of the biggest settlements in the resort town so far this year. This beachfront property at 62 Tingira Cres, Sunrise Beach, has sold for $4.2 million.Mr Hunter said the buyer of 27 Mossman Court had previously owned a holiday villa in Noosa, but decided it was time to move there for good.“There are five bedrooms, so plenty of room for all the family to come and visit,” Mr Hunter said.“He wants to enjoy fishing out on the jetty with the grandkids.” The fastest growing place in QLD More from newsParks and wildlife the new lust-haves post coronavirus14 hours agoNoosa’s best beachfront penthouse is about to hit the market14 hours ago How to become a DIY renovator This beachfront property at 62 Tingira Cres, Sunrise Beach, has sold for $4.2 million.The latest Herron Todd White property market outlook reveals expat buyers benefiting from the weaker Australian dollar are looking to the Sunshine Coast as Sydney and Melbourne investors feel the effects of a softening market.The report cites proximity to the beach as a driving factor for purchasers, which was expected to continue in 2019.HTW expects the prestige markets in Noosa to continue to see “some good activity this year on the back of some record sales in 2018, but it may be impacted by the slowdown in confidence in the Sydney and Melbourne markets. This waterfront property at 27 Mossman Court, Noosa Heads, has sold for $5.75 million. MORE: Jessica Rudd is doing it her waycenter_img This home at 45 Witta Circle, Noosa Heads, has just settled for $8m. Selling agent Adam Watts of Century 21 Conolly Hay Group said the four-bedroom, four-bathroom Hamptons style property, with its own private jetty, at 45 Witta Circle had just settled after selling to an expat to use as a holiday home.Mr Watts said interstate and international inquiry for Noosa’s prestige market was strong, with many people wanting to move there for the lifestyle — not just to buy a holiday home.A luxurious house on the waterways of Noosa Sound has also just sold for $5.75 million to a Melbourne buyer planning to retire in the sunshine state. Selling agent Nic Hunter of Tom Offermann Real Estate said another two, older-style properties had gone under contract in the same street at the weekend for around the $4 million mark each.And down the road in Sunrise Beach, another four bedder on the beachfront has just been signed for $4.2 million. Amy Shark sinks millions into home town The Mossman Court home was light-filled with indoor-outdoor flow.Mr Hunter said the increase in interstate migration to Queensland was being felt strongly in the Noosa region, with buyers snapping up properties on the water with proximity to Hastings Street and room to park a boat.“It’s a big trend going on here at the moment,” he said.“The higher-end, lifestyle seekers are fuelling the market — mostly from interstate.”last_img read more

Massive Gas field discovered off the coast of Egypt

first_imgEni has been in Egypt since 1954 through its subsidiary IEOC. It is the main hydrocarbon producer in Egypt, with a daily equity production of 200,000 barrels of oil equivalent, the company said.Egypt’s petroleum ministry said that the find was equal to about a third of Egypt’s current gas reserves.“The Egyptian government is very happy with this find,” ministry spokesman Hamdi Abdelaziz said, adding that the gas would be extracted for domestic consumption only.“We hope to become self-sufficient by 2020,” he added.The government cannot yet place a monetary value on the discovery, he said. Descalzi was quoted by Eni as saying that the discovery reconfirms that “Egypt still has great potential” energy-wise. He said “important synergies with the existing infrastructures can be exploited, allowing us a fast production startup.” Eni SpA says this is the largest gas deposit in the Mediterranean seaItalian energy company Eni SpA says it has discovered a “supergiant” natural gas field off Egypt, describing it as the “largest-ever” found in the Mediterranean Sea.Eni says the discovery made on Monday  in its Zohr prospect “in the deep waters of Egypt” — could hold a potential 30 trillion cubic feet of gas over an area of 100 square kilometers (38.6 square miles).The discovery well is 190 kilometers (about 120 miles) from the Egyptian coast, and is at a depth of 1,450 meters ( 4,757 feet) in the Shorouk Block, the company said. The block is about 107 kilometers (66 miles) from Port Said.“Zohr is the largest gas discovery ever made in Egypt and in the Mediterranean Sea and could become one of the world’s largest natural gas finds,” Eni said in a statement. “The discovery, after its full development, will be able to ensure satisfying Egypt’s natural gas demand for decades.”“Eni will immediately appraise the field with the aim of accelerating a fast-track development of the discovery,” the energy company said.last_img read more