Latest news with #downsize
CTV News
04-07-2025
- Business
- CTV News
Edmonton's Kingsway Legion looking to downsize, considering sale
Edmonton's largest legion is considering downsizing. Kingsway Legion Branch #175 has called a special meeting to discuss the sale of its building, due to ongoing financial strain. Veteran Richard Etmanski, Branch #175 president, said it comes as bills and building repairs have left the legion 'mortgage poor.' 'They were doing fine when the building first opened and there were a lot of events going on in here, but then COVID hit and that caused a lot of problems,' Etmanski said. The branch, like many other Royal Canadian Legion branches, struggled during the COVID-19 pandemic, as public health measures eliminated revenue from event rentals, canteens and bars. In 2022, Branch #175 launched a GoFundMe that raised $63,540 to help pay the bills and make repairs to the building. A series of meat draws organized by 100.3 The Bear helped raise another $85,000 for the cause and, that June, Edmonton city council voted to support the branch's request for tax relief on more than $48,000 in penalties and interest. Etmanski said the legion has been keeping its 'head afloat' since, but it needs to think ahead. A sale, he added, would allow them to buy a smaller building and put some money in the bank. 'We can't keep up,' he said. 'We're just barely making things meet … it's either that or have somebody win the lotto and pay off our mortgage.' Should members not want to sell, Etmanski said another option would be to lease out part of the building. With files from CTV News Edmonton's Marek Tkach
Bloomberg
02-07-2025
- Business
- Bloomberg
Father-Son Team Set for $270 Million Windfall in Australian IPO
Four decades ago Peter Puljich turned a trailer park on Australia's Gold Coast into a high-end retirement community for the over-50s. The Croatian immigrant reasoned that baby-boomers, such as himself, wanted more out of life than to work into old age — they wanted to retire early and downsize in style. That project to sell homes in the country's sun-drenched north east was the starting point to what would lead to GemLife Communities Group. It's now a A$1.58 billion ($1 billion) business run by Peter's son Adrian — and it's set to deliver a major payday for the family.
News.com.au
01-07-2025
- Business
- News.com.au
Glen Iris home sells $150k above price guide
A tidy red-brick home with no shared land and a low-maintenance garden has become a hot-ticket item in Glen Iris, exceeding its price guide with a $1.4m sale under the hammer. The three-bedroom home at 2 Charles St had been quoted a $1.25m-$1.35m price guide, but five bidders, including a neighbour, helped push the result $50,000 above the top of the range. While the weather was icy, competition was anything but, with Buxton ACOM director and auctioneer Peter Gigis declaring it one of the cleanest and most confident winter auctions he's handled in recent memory. Inside 'Hospitality Yoda's luxe Melb home 'The property was announced on the market at $1.25m and ended up selling for $1.4m,' Mr Gigis said. 'It was a solid result, especially for a single-level home in Glen Iris, which continues to be in high demand.' Mr Gigis said the picture-perfect property on 301sq m charmed older buyers with its stand-alone layout, mature gardens and sun-soaked courtyard, all within walking distance of Burwood Village, light rail and the upcoming Suburban Rail Loop station. 'Downsizers were the dominant force here. At least four of the strongest bidders were older couples who'd just sold in the area,' he said. 'But in the end, it was a young couple who secured the keys, and the vendors, a brother and sister who'd inherited the home, were thrilled.' The neat interiors include a front lounge, open-plan kitchen and dining zone, and three robed bedrooms, including one with direct bathroom access. Extras like ducted heating, evaporative cooling, ducted vacuum and a remote garage with second car space added to the turnkey appeal, while the wraparound courtyard offered leafy privacy and an outdoor entertaining zone. The Buxton ACOM director said demand across Ashburton, Camberwell, Oakleigh and Mount Waverley had ramped up noticeably this winter. 'This is easily the strongest winter market we've seen since before Covid,' Mr Gigis said. 'Stock's still incredibly tight, especially in places like Glen Iris and Ashburton, and buyers are acting fast when the right home comes up.' Mr Gigis The fact 2 Charles St had no common land was a rare and highly prized feature. 'You can find units and villas in Glen Iris, but not many that are stand-alone like this one. That made a huge difference,' he said. Mr Gigis expects a spring surge to follow once the July lull clears, with rate relief and low listings creating a perfect storm for sellers. 'We're already seeing momentum build for September,' he said. There's definitely more confidence than there was last year, buyers and sellers alike are getting ready.' The sale was managed by Mr Gigis alongside Buxton Oakleigh's Emily Duvnjak.
Wall Street Journal
09-06-2025
- Entertainment
- Wall Street Journal
Bob Newhart's Los Angeles Home Hits the Market for $10.5 Million
The comedians Bob Newhart and Don Rickles—along with their wives, Ginnie Newhart and Barbara Rickles—were close friends for decades. So when the Newharts wanted to downsize from their longtime home in the Bel-Air neighborhood of Los Angeles, they followed the Rickleses to Century City. 'They decided they were going to move down the street from their best friends,' said the Newharts' daughter Courtney Newhart Albertini.
News.com.au
04-06-2025
- Business
- News.com.au
Simple reason Aussies refusing to downsize for city
Australians are clinging to their laundries, spare rooms and car spots — even if it means ditching city life — in a defiant rejection of the downsizing dream. New research from Compare the Market reveals just 18.8 per cent of Australians would sacrifice space to live closer to the CBD, while a staggering 71.3 per cent either won't downsize or have no desire to live in the city at all. But while most of the nation is holding onto space, property experts say buyers are increasingly flipping the script. Compare the Market's general manager of money Stephen Zeller said Australians were drawing clear lines around which home features they would and wouldn't compromise on — and it wasn't what you might expect. 'Knowing which home amenities you definitely want and which you're willing to compromise on can help you narrow down which properties are right for you,' Mr Zeller said. 'Using comparison tools can also help you find a competitive interest rate on offer.' Laundries topped the list of non-negotiables, with 50 per cent of Australians saying they would not give them up — followed by car park spaces, 38.9 per cent, garages, 34.7 per cent, and spare rooms, 30 per cent. Buyers were most willing to ditch pools, 57.9 per cent, garden sheds, 42.1 per cent, and backyards, 35.8 per cent, to get closer to the city. Melbourne based buyers advocate Cate Bakos said the national data came as a surprise, because her clients are increasingly choosing location over space. 'That actually surprised me — because I'm seeing the opposite,' Ms Bakos said. 'People are much more willing to give up space to be close to cafes, culture and lifestyle. 'They want to be where the action is.' Ms Bakos said many buyers had moved away from car ownership entirely, opting for public transport, ride-share services and car share schemes. 'They'd rather save that cost and use the money elsewhere,' she said. 'The focus has shifted to experiences, lifestyle and social connectivity.' But the buyers agent said one feature remains a deal-breaker for many buyers: 'Move-in readiness. Buyers are not interested in renovators right now,' Ms Bakos said. 'The builder shortage and renovation costs have turned people off. 'A turnkey home is gold.' Ms Bakos added that confidence was being driven by major infrastructure upgrades, particularly Melbourne's $15bn Metro Tunnel, set to reshape commuting when it opens later this year. 'It's the kind of change buyers will feel in their daily commute,' she said. 'It builds confidence and convenience.' 'The Suburban Rail Loop might be the long game, but right now, the Metro Tunnel is what people are excited about.' McGrath Wynnum-Manly principal Gaby McEwan said buyers, particularly in Brisbane were still chasing space, but not for land size alone. 'It's not necessarily about acreage. It's about a change in pace,' Ms McEwan said. 'They want a backyard, a garden, a safer community and access to the water.' Ms McEwan said a growing number of young families were selling up in Brisbane inner-city pockets like Newstead and West End to secure lifestyle homes in seaside suburbs such as Wynnum and Manly. 'They're not just trading sideways,' she said. 'In some cases, they're paying more for a smaller block, just to live near the water. 'The Esplanade used to be quiet. Now it's buzzing. People discovered it during lockdowns and never left.' The McGrath Wynnum-Manly principal said even basic homes are being snapped up by buyers keen to get into the suburb. 'We recently sold one for $925,000, it was full of asbestos and hadn't been touched in decades,' Ms McEwan said. 'But it was on a great street, and the buyers were happy to renovate just to get in.' Ms McEwan said a wave of locals who grew up in the area were now returning after years of inner-city living. 'They've seen the value of their units go up, and now they're either selling or holding and buying again here,' she said. 'It's a smart move, and once they're back, they never want to leave.' State-by-state: Who's least willing to compromise? Victorians were the most attached to their laundries, with 53.2 per cent unwilling to give them up. Queenslanders were more open to ditching the backyard, 38.5 per cent, and only 10.9 per cent were willing to lose a laundry. New South Wales came in close to the national average, but Sydneysiders showed slightly greater willingness to downsize for location. South Australians were most attached to having a garage, with 42.9 per cent unwilling to let it go.
