Hedge fund LHC Capital profits from new bet in Dalrymple Bay
The Sydney-based short seller started buying shares in Dalrymple Bay, the world's largest metallurgical coal export terminal, after US private equity giant Brookfield Infrastructure sold down a large chunk of its stake last month.
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News.com.au
7 hours ago
- News.com.au
Revealed: Rapid rate of Sydney's most in-demand suburbs
Homes have begun to sell at an extraordinary pace across parts of Sydney as buyers gear up for further interest rate cuts. PropTrack data revealed multiple areas where homes are being purchased at a rate of more than one home every single day, with more than 365 sales over the past year. These suburbs accounted for a large share of the total properties being transacted annually, with the top 40 most popular suburbs alone driving 22 per cent of all home sales across Greater Sydney. The data revealed suburbs houses have sold over 365 listings in the past 12 months were Blacktown, Marsden Park and Castle Hill. While top performing suburbs for unit sales over the past year included Parramatta, Liverpool, Dee Why, Epping and Ryde. PropTrack Senior Economist Anne Flaherty said these suburbs equally indicate where people are most frequently buying – due to a combination of accessibility and lifestyle appeal. 'First and foremost is the actual size of the suburb, an area like Blacktown for example is a relatively big suburb,' she said. 'Then also homes that may meet someone's expectations for a period of time but not necessarily for the whole of their lifetime. 'There are a few there which are relatively more affordable areas and so they might be properties that people upgrade from.' According to Ms Flaherty, this frequency may also alleviate rapid rising prices in these suburbs in contrast to tighter-held locations. 'When we do see a lot of homes coming up for sale, it means that there is more choice for buyers in those areas and can help to prevent prices growing as rapidly as they would if fewer homes were coming up for sale,' she said. 'Looking at Blacktown for example, the median house price is well below the greater Sydney house price, so it is what you would consider by Sydney standards, relatively affordable. 'I think for people looking to buy houses at a more affordable entry point, it's a great place to go, we know after a while those areas do see a good capital growth and for a lot of people it's their first step into the property ladder and then they upsize, perhaps needing a larger dwelling or perhaps want to live closer into Sydney for example.' Ms Flaherty said unit development over the last decade in these suburbs was another factor. 'Liverpool and Blacktown, they are areas where there is a lot of development happening so that's another factor,' she said. William Halteh and his wife Nicole, who are expecting their first baby in October, are selling their home in Marsden Park, one of the most popular areas, and shared why they think the suburb has been so appealing. 'It was fairly new to the market and it was going to be an exciting area to live in, a lot of land available and a whole new community,' Mr Halteh said. 'We built our home and we've been living here for about four years now.' Ms Haltech said it was an attractive area with everything close by. 'It's family orientated, there's schools nearby, the shops are down the road, we have a lot of friends around as well,' Ms Halteh said. 'There are nice walking tracks and multiple parks around the area so you can go on a nice stroll – the scenery is beautiful.' Ms Haltech added the area is also rapidly progressing. 'They keep expanding it,' she said. 'They are adding more shopping centres, there's a new high school that has just opened and there's a metro apparently that will be built and coming along here for the Western Sydney airport,' Mr Halteh added. The Halteh's selling agent Kavishay Prasad of LJ Hooker Schofields said the high amount of properties transacting in suburbs such as Marsden Park was likely due to its fairly new offering. 'There's a lot of greenery, a lot of parks and still very much a developing community,' he said. 'The family-friendly component of Marsden Park, which is why there are so many young families entering the market, particularly with mention of the property at 89 McAlister Parade. 'A lot of buyers have been first homebuyers, young families, people that are looking to solidify their living in the suburb for the next five to ten years.' PropTrack data confirmed combined averages for house and unit sales over the past year soared in suburbs such as Blacktown, Ryde, Liverpool, Parramatta and Epping. Four years later, the Haltech's are now making a move closer to family for their next chapter. 'Because we are expanding our family it will be nice to be closer where I'll be able to have that support,' Ms Haltech said. 'It is a bit crowded at the moment – because it's such a popular area,' Mr Haltech said. 'At the moment, we're currently looking in the Narellan, Mount Annan areas, Camden also because of the scenery as well.'
Sydney Morning Herald
7 hours ago
- Sydney Morning Herald
Does Australia's biggest contribution to global dining come from ... McDonald's?
Before flat whites surged through New York City, Aussie-inspired coffee was being poured at America's first McCafe in Chicago, back in 2001. Since its Melbourne creation in 1993, the McDonald's concept has taken off globally and McCafes now serve macarons in France and alfajores in Argentina. There are McCafes with bubble tea in China, zaatar croissants in Saudi Arabia and local coffee beans in Guatemala. 'I don't think it would be crazy to argue that Australian coffee culture is the country's biggest culinary contribution to the world, within which McCafe plays a major role as the delivery vehicle,' says Gary He, author of McAtlas: A Global Guide to the Golden Arches. The self-published book won the Reference, History and Scholarship category at the prestigious James Beard food media awards in June, held in Chicago. He, a US-based writer and photographer, travelled to McDonald's outlets across six continents to document the fast-food chain's surprising diversity. The project, started in 2018, has taken him to more than 50 countries, from Sweden's McSki to Germany's McBoat and New Zealand's Taupo location which incorporates an actual plane.
Sydney Morning Herald
7 hours ago
- Sydney Morning Herald
‘Private placements', property and cars: Inside WA's multimillion-dollar fraud trial
The first week of the trial of an alleged Perth-based fraudster heard his former clients claimed they had no idea he was hedging their investments with real estate and cars, rather than keeping the funds safe in a 'blocked bank account'. Private investor Chris Marco is on trial in West Australia's Supreme Court, facing 44 charges after allegedly defrauding investors of about $36.4 million. His former executive assistant, Linda Marissen, has been charged with 30 offences for her alleged role in the crimes. Both have pleaded not guilty to all charges. The minimum investment to work with Marco was $100,000, and his clients included an environmental scientist and a Sydney-based insurance underwriter. In his opening statement, Prosecutor Steven Whybrow said Marco spent years developing credibility with his clients between 2011 and 2018, promising to invest their money in lucrative overseas investment structures called 'private placements'. Private placements are when a company raises money by selling shares, bonds, or securities to a select group of private investors, rather than through the public stock exchange. They are generally a riskier type of investment and aimed at exclusive groups of people, which Marco claimed to have access to. In an interview from 2021 played to the court on Friday, Marco said he mainly ran them through overseas operators. Whybrow told the court Marco added to his credibility by allowing investors to pull their money out at any time, but the generous returns his clients received meant they often rolled over their investments.
