More than 10 months have passed without the Scottish government providing further clarity on pensions issues highlighted by the Institute of Chartered Accountants Scotland (ICAS), the trade body has claimed.Despite two reports from the pro-independence government, in a statement released by ICAS, it said there was still no defined protocol for how the UK and Scottish governments would engage with the EU on cross-border funding rules.Defined benefit (DB) or hybrid schemes with members in both the UK and Scotland will be classed as cross-border funds in the event of independence.However, under EU regulation, all cross-border funds must be immediately fully funded, potentially giving corporate DB schemes carrying deficits heavy financial burdens. In September 2013, the Scottish government proposed discussions with the EU and the UK to undertake a full impact assessment and agree a three-year transitional arrangement for schemes.However, the ICAS said the proposed three years was “wholly insufficient” given current funding arrangements between companies and schemes.Another area of uncertainty, according to the ICAS, is the feasibility of an independent Scotland sharing the Pension Protection Fund (PPF) with the UK.Under Scottish proposals, the government said it would mimic the UK’s pensions regulatory authority, but set up its own body.However, it was suggested Scottish schemes would still be covered by the PPF and continue to fund this through the levy.The ICAS said it was questionable how two regulators, two countries and one PPF would work in practice, especially as the interests of the two governments diverge.The body said that, while the papers issued by the Scottish government moved the debate on pensions in independence forward, the more detailed aspects were important to deliver a separate pensions system.It added: “The Scottish government’s scope to implement its policy agenda for pensions post-independence would depend on the outcome of any post-referendum negotiation. With that in mind, there are limitations on the degree of assurance the Scottish government can provide on what could eventually be delivered.”The ICAS raised concerns over the complexity on whether the cost of entitlement to a state or public pension rested with Scotland or the UK, although it acknowledged the issue was being considered.David Wood, ICAS executive director for technical policy and practice support, said the body understood not every question could be answered prior to the referendum.However, he added: “Security in retirement is a significant issue for the Scottish public. Everyone has concerns over whether or not they have the appropriate arrangements to provide for their retirement.“The ICAS has taken a neutral stance in the independence debate, but we will continue to call for answers to important questions to ensure the Scottish people are better informed.”
The UK’s Environment Agency Pension Fund has earmarked up to £250m (€313m) for a new “evergreen” equity mandate, incorporating ideas for a long-term investment portfolio that considers the impact of non-financial matters on return.The £2.4bn local authority pension scheme (LGPS) said it was tendering for one or more sustainable equity managers that would be expected to outperform the benchmark over a three to 10 year basis, managing mandates worth £75m-250m.The tender noted that the contracts for pooled or segregated mandates could be extended “indefinitely” subject to the asset manager’s satisfactory performance based on both financial and non-financial matters.Mark Mansley, CIO of the EAPF, told IPE that the fund had not decided on a specific target benchmark, but could imagine using an established mainstream or absolute return benchmark index. Faith Ward, the fund’s chief responsible investment and risk officer said the mandate was a key part of its 25% allocation to sustainable assets. “It is based on our extensive market research and discussions with the market on the ‘Mandate of the Future’. From this we know there are some very good managers out there and we look forward to receiving their submissions.”The EAPF’s tender comes after the UK’s Law Commission found that UK trustees were able to take account of non-financial matters when reaching investment decisions and follows on from calls by the Kay Review of equity markets to lengthen the term of equity mandates.Mansley said that while the inclusion of non-financial considerations might have previously been seen as “pushing the boundaries” of fiduciary duty, the situation had changed in the wake of the Law Commission report.“We now feel that the Law Commission made it quite clear that what we are doing is central within the concept of fiduciary duty.”While the fund had initially intended the agreement would act as a framework accessible to the entirety of the local government pension market, Mansley said that the framework would have resulted in further complications.He also questioned how much demand there would be for such a framework in light of the recently concluded Department for Communities and Local Government (DCLG) consultation that was investigating if local authority funds could reduce management costs by shifting to passive mandates.“We are going to capture what opportunities we can for collaboration out of this, particularly if we end up looking at pooled fund vehicles, or perhaps end up identifying pooled funds that other LGPS might be interested in participating without going through the tender process.”The EAPF said that up to 15 asset managers would be taken forward to a full tender process, with requests for proposals due by 24 September. It will select the final asset managers by early next year.
GSAM said it would gain “holistic ESG and impact investing portfolio advisory capabilities” from the acquisition that were a strong complement to the existing ESG offerings it already had.Hugh Lawson, global head of ESG investing for GSAM’s investment management division, said: “The further development of our ESG and impact investing platform through the acquisition of Imprint’s business is critical to address the needs of our clients.”Imprint’s co-founders John Goldstein and Taylor Jordan said impact investing was now moving from being a niche area of the market to a core approach used for whole portfolios. Goldman Sachs Asset Management (GSAM) has agreed to buy Imprint Capital – which specialises in institutional impact investing – saying the deal will improve its ability to provide its clients with ESG (environmental, social and governance) investments.Impact investing is a type of investment intended to produce a measurable social or environmental benefit alongside a financial return, a practice that has gained currency in recent years.GSAM did not say how much it paid for the firm but said the deal was expected to close in the next few months, subject to certain conditions.As part of the deal, staff at Imprint will join GSAM and continue to be based in San Francisco, as well as New York, it said.
Allianz’s new ranking comes in contrast to the Melbourne Mercer Global Pension Index, introduced in 2009.In last year’s Melbourne Mercer, which assessed 25 pension systems, Denmark was considered to have the best pension system in the world, followed by Australia in second and the Netherlands in third.One of the differences between Allianz and Mercer’s rankings is that latter focused on the sustainability and integrity – in terms of quality of legislation and communication – of all the pension pillars, whereas the former rated the sustainability of the first pillar separately.Allianz’s first-pillar indicator – based on replacement rate, indexation and funding – ranked Austria first, according to Allianz, with the Netherlands coming sixth.On the indicator for the second and third pillars – which looked at coverage, whether membership is voluntary or mandatory, employer contributions and the level of pension assets as a share of GDP – the Netherlands came in second place, after Switzerland, which has better funded pillars.By the same measure, Denmark ranked third, ahead of Australia and the US – which, in turn, were ahead of the UK and Sweden.Chile, Canada and Singapore rounded out the Top 10 within the second and third-pillar category. India and Indonesia’s pension systems fared worst out of the 49 countries surveyed due to their low levels of participation, insufficient capital funding and high care costs, Allianz found. A new survey conducted by Allianz has concluded that the Dutch system is the best in the world when it comes to adequacy of pension provision. Allianz’s ranking system measured pension provision against first, second and third-pillar criteria, as well as additional assets, care costs and the “transition from employment to pension”, while a country’s weighting towards the first pillar accounted for nearly half its total score.After the Netherlands, Denmark came second and Norway third out of the 49 countries Allianz surveyed.Australia was ranked 35th due to low scores for asset and home ownership, as well as the relatively small size of its first pillar.
A standard portfolio-based approach should be used for valuations of UK local government pension schemes (LGPS) to make them comparable and allow funding risk to be assessed, a consultancy has argued.In a report produced in collaboration with Iain Clacher from Leeds University Business School, consultancy Clerus said the discount rate used as part of such an approach should reflect the asset allocation of individual schemes, disagreeing with a suggestion from the Centre for Policy Studies that a uniform range of discount rates should be used across schemes when determining liabilities.BNY Mellon recently said the UK government should mandate a uniform approach to discount rates to facilitate the forthcoming pooling of LGPS, saying the different discount rates used by local authorities made meaningful comparisons difficult. Clerus argued that it was the Equity Risk Premium (ERP) that should be the same – and shown for a range of outcomes – as the expected return over UK government bonds (Gilts) comes through “exposure to equities or riskier asset classes held within individual LGPS portfolios”. Clerus also called for a government actuary to decide what performance assumption criteria should be used for all LGPS.It suggested equity risk premiums of 0%, 1%, 2% and 3% be used.Clerus said its suggested methodology would not have a material impact on the aggregate deficit for LGPS, but it added that the funding position of a number of local authorities could change significantly – if its analysis is representative across the LGPS.The funding level of Worcestershire County Council’s pension scheme, for example, could increase by 15% – a deficit decrease of £450m (€573m) – while Royal County of Berkshire’s could fall by 26% to 49% via a deficit increase of £1.1bn.Clerus also said the impact of recovery period extensions should be quantified, noting that, for many schemes, this “smacks of kicking the can down the road, rather than addressing some of the value-detracting activities that have led to the need to massage the numbers”.In other news, the Merchants Navy Officers Pension Fund (MNOPF) will close its defined benefit fund to future accruals from 31 March.Its circa 600 members will instead be enrolled in a replica of the industry-wide defined contribution scheme, the Ensign Retirement Plan.Contributions will total 30% (20% from the employers).The move follows advice from the scheme actuary showing the increase in contributions needed to maintain the benefit level in the DB scheme: from 20% to 25.8% for the employer and 12.2% to 15.7% for members, whose National Insurance contributions would also increase due to the abolition of contracting out in April.Elsewhere, threadmaking company Coats Group, which grew out of the former Guinness Peat Group, has initiated settlement discussions with the trustees of the Brunel, Staveley and Coats UK pension schemes to resolve ongoing pensions investigations.As part of its 2015 annual results announced on Friday, the company said it was retaining $505m (£342m) within the group to support the schemes and not make a capital return to shareholders.This would be on the condition that the UK pensions regulator end its investigations by withdrawing warning notices on the three schemes, and for Coats to be able to start paying normal course dividends to shareholders and have sufficient cash to “invest in growth opportunities”.The move is the latest in a dispute with The Pensions Regulator (TPR) that goes back to at least late 2014, when TPR issued the Guinness Peat Group with a warning notice about insufficient resources for the Coats pension plan.Coats has argued that “it is not proper” for TPR to use its statutory powers in relation to the Coats plan.Lastly, trade union Unison’s staff pension fund has joined US union pension funds in lodging a shareholder resolution at education publisher Pearson due to concerns about its recent business performance.The resolution, also signed by the Chicago Teachers Pension Fund and Trade Union Fund Managers, calls on the former Financial Times-owner “to review its business strategy in the wake of four straight profit warnings, tumbling revenue and plunging stock price”.The resolution also calls for a halt to the company’s plan “to create schools for profit in parts of the world where there are no proper state education systems”.,WebsitesWe are not responsible for the content of external sitesLink to Clerus report “A Simple Way to Compare Pension Fund Deficits – Case study LGPS”
SUSI said the holdings were very well diversified technically, as well as geographically.The funds from final closing will be invested in further solar and wind projects within the coming 30 months.Otto von Troschke, CIO and co-founder of SUSI Partners, said: “With the successful final closing, the fund can now realise projects amounting to an expected total volume of €1bn, and SUSI further strengthens its position as one of the most active European fund advisers for renewable energy.“Our strong network resulting from 26 wind and solar transactions provides us with excellent access to attractive projects with reliable partners, allowing the efficient continuation of our diversification strategy.”SUSI Partners is a socially and ecologically responsible investment adviser, supporting institutions with investments in solar and wind parks, energy efficiency retrofits of existing infrastructure, and energy storage capacity.The funds it advises on aim to produce stable annual distributions that have a low correlation with traditional asset classes, carry low risk and produce a measurable impact on climate change mitigation.Its main partner is the Luxembourg fund provider Sustainable SARL. The SUSI Renewable Energy Fund II has achieved a €380m final closing, including a single investment of more than €100m from a Dutch pension fund.The Swiss investment adviser said most investors were pension funds and insurers, and that the European Investment Bank had also committed €62m.The renewables fund, which saw its first close in the spring of 2015, invests in wind and solar projects.Its €115m portfolio is made up of 14 wind and solar farms in Germany, France, Finland, the UK, Portugal and Italy, delivering a total output of more than 210 MW of clean energy.
“Being cashflow negative is a natural life stage of a mature DB pension scheme, of course, but recent stock market performance may have lulled some into a false sense of security,” Edwards said. “Our report highlights that less than 40% of schemes have a formal de-risking journey mapped out. This leaves a large body of schemes with no clear plan in place.#*#*Show Fullscreen*#*# More than half of UK defined benefit pension funds are now paying out more in pension payments than they are bringing in through investments and contributions, according to research by Mercer.The consultancy group’s latest European Asset Allocation survey reported that 55% of DB schemes were “cashflow negative”, based on a sample of nearly 600 UK schemes.Of the remainder, 85% expected to be cashflow negative within the next decade.At the same time, allocations towards alternative assets – including less liquid asset classes – rose during 2016, Mercer reported. Phil Edwards, global director of strategic research, warned that schemes should maintain a sufficient allocation to liquid assets to ensure they can meet cashflow demands. Source: Mercer European Asset Allocation Survey 2017“Trustees of cashflow-negative schemes need to be sure that, in the event of a large market correction, liquid assets are available to meet cashflow and collateral needs, without requiring the scheme to crystallise losses. We would encourage all schemes – large and small – to use scenario planning and stress-test analysis to understand how a market correction might impact their financial health.”The majority of pension funds sell assets to meet payments, Mercer found. However, nearly a third (29%) have begun focusing on income-producing assets to reduce the impact of transaction costs.In addition, a “small number” of schemes have adopted “cashflow matching” strategies, attempting to pair up income and other receipts with actual payments as they fall due.#*#*Show Fullscreen*#*# Source: Mercer European Asset Allocation Survey 2017“The popularity of cashflow matching is clearly set to grow over time and we are already seeing an upswell in interest in the cashflow-driven financing approach,” said Adam Lane, senior strategic solutions group consultant at Mercer. “In our view, focusing on income generation provides much greater certainty of return over the long term than more traditional approaches, while also reducing the path dependency of outcomes.”Earlier this year, Henderson Global Investors launched a “cashflow-driven investing” strategy aimed specifically at pension schemes reaching this milestone.
In a statement announcing Merseyside’s investment, Funding Circle investors using its platform last year had contributed £4bn to the UK economy “and unlocked 72,000 jobs”. “For every £1m lent, an additional £2m was added to GDP,” the company said, citing research is published earlier this year in collaboration with Oxford Economics.Funding Circle’s previous funds have been supported by the British Business Bank, the European Investment Bank, asset management and insurers.At £9bn, Merseyside is one of the largest in the UK’s Local Government Pension Scheme system.Italian banking scheme joins EU in private debt fund Anthilia BIT III recently invested in a bond issued by PSC, an Italian engineering company that supplies electrical and mechanical systems for light railAt least one Italian pension fund has joined the European Investment Fund (EIF) in subscribing to a private debt portfolio focused on Italian SMEs.Anthilia Capital Partners has raised around €200m for its third private debt fund, €40m of which has come from the EIF as part of the EU’s plan to stimulate investment in the region, known as the Juncker Plan or Investment Plan for Europe.According to an announcement from the European Commission, “new institutional Italian investors” also subscribed to Anthilia BIT III. The fund is aiming to dispose of €350m by 2020. A spokeswoman for Anthilia said around a quarter of the investors in the new fund were pension funds or institutional investors from the “welfare” sector. BRE Banca, a Italian pension fund for the banking sector, is one of them; as at the end of 2017 it had €199m of assets under management.According to the statement, Anthilia BIT III would typically concentrate on SMEs with an annual turnover of between €20m and €200m and “particularly sound characteristics in terms of capital and income”. This would represent a pool of almost 5,000 Italian companies.The EIF’s involvement in the fund comes under an SME-specific new investment programme for debt funds created within the EU’s Juncker Plan. It aims to mobilise around €4bn of alternative non-bank financing for European SMEs and small mid-cap companies.As at the end of 2018 Anthilia had more than €1.1bn in assets under management. The Merseyside Pension Scheme has invested £30m (€33.6m) in Funding Circle, a direct lending platform that supports small businesses in the UK.The pension fund’s investment would support an estimated 430 companies, according to to the lender, based on an average loan size of £70,000. Funding Circle said its UK Economic Impact Fund aimed to open up investment in small and medium-sized enterprises (SMEs) to institutional investors, including pension funds and insurers.Linda Desforges, senior portfolio manager at Merseyside, said: “We view Funding Circle as the pre-eminent operator in the platform lending space and are pleased that through their infrastructure we can support small businesses while earning a good level of income for the pension fund.”
He said he was turning 62 this summer and thought the time was right when he resigned in February – before the coronavirus crisis broke out.“I have since received a request to sit on Lundberg’s board, which I accepted,” he said.Selling said the idea had been that he would be elected on 1 April, but that Lundbergs’ annual general meeting had then been postponed, and was now due to happen before 30 June.Prior to joining Alecta in 2007, Selling worked as head of Swedish equities at Handelsbanken Asset Management for a year, according to his LinkedIn profile, having spent 11 years in the same role at AMF before that. Bo Selling, the man who has led equities investment at Swedish pensions giant Alecta for the last 12 years, is leaving the company to join Stockholm-based listed investment firm Lundbergs.Alecta will not be replacing Selling when he departs on 25 May, but will instead change the reporting structure so that the two managers currently under him in future work directly with his boss, a spokesman told IPE.Liselott Ledin, head of equity management, and Jesper Wilgodt, head of equity research, will be reporting to Alecta’s head of investment management Hans Sterte, the spokesman said.Commenting on his decision to quit, Selling said: “I have been head of equities since November 2007, in other words for over 12 years, and I felt it was time to try something new.”
Stefanie Brown at the historic Cintra House, which she is selling. Picture: Peter Wallis.One of Brisbane’s oldest surviving homes, ‘Cintra House’ is a circa 1860s estate on the fringe of the CBD. The heritage-listed, prominent white landmark is a rare example of Georgian architecture — built entirely of stone — and has been home to a number of residents of note over the years. This historic home at 34 Mullens St, Hamilton, sold for nearly $6m.The landmark Hamilton home known as ‘Cremorne’, built by a publican in 1905, sold for $5.97 million, while a hilltop estate at 4 Welwyn Crescent in Coorparoo sold for more than $5 million in August — setting a new sale price record for the suburb.A 1930s Ascot estate belonging to the boss of Domino’s Pizza fetched $11 million earlier this year.And they don’t get much grander than the mansion on Hamilton Hill built by the late disgraced businessman, Christopher Skase, which sold for more than $10 million — although the former owner had hoped it would fetch more. Cintra House is renowned as one of Brisbane’s most prominent hilltop residences and one of the city’s oldest residential homes.Former Queensland premier Boyd Dunlop Morehead lived there with his wife and eight children for a number of years and in the 1970s, it was owned by prominent Brisbane builder Noel Kratzman, who carried out a number of renovations.The original two-storey floorplan is largely intact, save for a couple of additions that were made in the late 1800s, including a bay projection and verandahs with ornate balustrades. The property at 29 Hillside Cres, Hamilton.It features four bedrooms, five-and-a-half bathrooms, a gym which can be used as a fifth bedroom and a kitchen on both floors.Records show it last sold for $950,000 in 2001. The view from one of the front verandahs at 29 Hillside Cres, Hamilton. This property at 50 Dauphin Tce, Highgate Hill, is for sale.THEY are rich in history, steeped in grandeur and often hidden from the public eye.But now, some of Brisbane’s grandest homes are on the market for the first time in decades, giving residents a rare chance to peek inside a piece of the city’s past.And, boy, do they have some stories to tell.One is the former home of a Queensland premier, another housed the British Trade Commissioner and then there’s one of the oldest homes still standing in the city.House prices might be softening nationally, but the top end of the market in Brisbane is going strong — and the grander the home, the better.Recent sales prove historic homes are hot property. The view from the viewing deck.He said the home’s historic charm and modern conveniences would make it sought-after among buyers.“I think for a buyer, if a home has stood the test of time, it shows the home’s very reliable,” Mr Hodge said. 8. ‘Locarno’ – 29 Hillside Cres, HamiltonNo price guideLast sold for $950,000 in 2001 The veranda on the house at 23 Davidson Tce, Teneriffe.The home has six bedrooms and five bathrooms, as well as a granny flat, viewing deck, pool and spa and an award-winning back garden.Marketing agent Henry Hodge of McGrath Estate Agents said the owners had undertaken one of the best renovations he had seen.“They haven’t spared any costs,” Mr Hodge said. Aerial image of 36 Dickson Tce, Hamilton, which was the former home of Christopher Skase.Here are some of the grandest historic homes on the market in Brisbane right now:1. ‘Nareke’ – 50 Dauphin Tce, Highgate HillNo price guide: For sale via tenderLast sold for $6.55m in 2008 Inside the home at 23 Boyd St, Bowen Hills.Today, it stands as a majestic six-bedroom, three-bathroom family home on 3050 square metres of private hilltop land.It features marble fireplaces, 3.6-metre-high ornate ceilings, a full-size championship tennis court and a swimming pool.Records show the property last sold for $2.1 million 17 years ago. Inside the property at 4 Sutherland Ave, Ascot.Marketing agent Vaughan Keenan of Grace and Keenan said the beauty of the home was that it had never been “bastardised”.“It’s one of those rare houses where all the original features are still intact,” Mr Keenan said.“One of the bathrooms still has the original terrazzo floor.”Mr Keenan said he was in negotiations with three potential buyers who had made offers.“The Sutherland Avenue address is a big drawcard for people because it’s one of THE streets in Brisbane,” he said.The property comes with a $3.4 million price tag. 4. 50 Riverview Tce, HamiltonNo price guide: Sale by negotiation Last sold for $1.85m in 2000 The front patio of the home at 60 Riverview Tce, Hamilton.Mr Eales sold the property for just $110,000 in 2001, which was indicative of the market at the time.The house has four bedrooms and a study, three bathrooms and a modern kitchen overlooking a pool and entertaining area. Ms Clark said the current owners had made minor improvements to the home, including lifting the carpets to reveal original hoop pine floors “in excellent condition” and adding a pool. This home at 50 Dauphin Tce, Highgate Hill, is for sale.Built on the site of General Douglas MacArthur’s home during the Pacific campaign, this ornate Victorian-style mansion is one of the most admired residences on the Brisbane River.Owned by doctors Chris and Tania Bradshaw, the riverfront estate was only established in 1996, but looks like something from a bygone era.The landmark home comes with a five storey-high turret and dome, which opens up for stargazing. Inside the home at 75 Woodstock Rd, Toowong.7. ‘Koowa’ – 23 Davidson Tce, TeneriffeNo price guide, going to auction Last sold for $1.2m in 2006 There’s nothing quite like Cintra House in Brisbane.3. ‘Rooklyn’ – 4 Sutherland Ave, AscotPrice guide: $3.4mLast sold for $46,000 in 1972 The home has an impressive library.Ray White New Farm agent Matt Lancashire is marketing the home on behalf of the Tynan family, who raised their four sons in the property.“It’s been a lovely family home,” owner Maureen Tynan said.“Between studying, the boys would head out to play basketball, swim in the pool or have a hit of tennis. As they grew older, they loved the entertainment pavilion which stands apart from the main house.” The home’s formal dining room.Other features include timber detailing, high pressed metal ceilings, ceilings and leadlight windows. Ms Clark said there had been strong interest from potential buyers.“It’s amazing how many people come through the opens who are interested in the history of the home,” Ms Clark said.“There’s not many (in Brisbane) that have been left untouched like this.”The property is for sale via an expressions of interest campaign, with a price guide in the mid $3 million range. This property at 29 Hillside Cres, Hamilton, is for sale.‘Locarno’ is an art deco masterpiece that was built early in the 20th century.The upper level of the home was added in the 1930s. The current owners bought the property in 2001 and undertook significant renovations and extensions under the guidance of acclaimed local architect, Robin Spencer. Inside the home at 60 Riverview Tce, Hamilton. Picture: Drew Fitzgibbon.6. ‘Foley House’ – 75 Woodstock Rd, ToowongNo price guide, going to auctionLast sold for $500,000 in 2000 This property at 4 Sutherland Ave, Ascot, is for sale.A grand and stately residence in one of Ascot’s most sought-after streets, ‘Rooklyn’ has been held by the same family for 47 years.The historic circa 1910 home is filled with traditional character features and has five bedrooms and three bathrooms. This home at 23 Davidson Tce, Teneriffe, is going to auction.Built in 1896 as only the third house on Teneriffe Hill, this grand home has views of the Brisbane River, city skyline, Newstead and Fortitude Valley.It was originally owned by the Davidson family and the namesake street used to be the property’s driveway. Inside the home at 50 Riverview Tce, Hamilton.The property has a 45.4m frontage and dual street access to Killara Ave, overlooking Hamilton and Ascot.Mr Lancashire described it as one of Brisbane’s “grandest family estates’’.5. ‘Newnham’ 60 Riverview Tce, HamiltonPrice guide: Mid $3mLast sold for $110,000 in 2001 ‘Newnham’ at 60 Riverview Tce, Hamilton, is for sale.Sitting proudly on prime Hamilton real estate, this property has housed a number of high-profile families in its past. It was built in 1901 by department store owner William Overell. In the late 1920s, the front verandas were closed in and arches and Taj Mahal inspired domes were added. Marketing agent Alma Clark of Alma Clark Real Estate said she sold it to former rugby union player, John Eales, back in 1997, and a well-known barrister before that. This property at 75 Woodstock Rd, Toowong, is on the market.On the market for only the third time since 1910, ‘Foley House’ is a grand, federation home once owned by Elizabeth Hockings and her husband, Albert.A mover and shaker in political circles, Albert Hockings was a Queensland politician, an alderman of the Brisbane Town Council and served as mayor of Brisbane in the late 1860s.The second person to own the home was Clare Bridget Foley — the daughter of an Ipswich lawyer and the fourth woman to be admitted as a Solicitor in the Supreme Court of Queensland.In the 1990s, Mrs Foley opened her doors to the Sisters of Mercy while their convent ‘Goldicott House’ was undergoing renovation. The six-bedroom, four-bathroom home has since been restored and redesigned, while keeping traditional features such as pressed metal ceilings, French doors, leadlight glass and ornate fretwork.It is scheduled for auction on November 24. This home at 50 Riverview Tce, Hamilton, is for sale.More from newsParks and wildlife the new lust-haves post coronavirus15 hours agoNoosa’s best beachfront penthouse is about to hit the market15 hours agoIn the late 1920s, architect Richard Gailey and Hutchinson Builders built this elegant family residence for a doctor by the name of Alexander Murphy.In 1962, it became the permanent residence of the British Trade Commissioner. The property was once home to the British Trade Commissioner.The stately six-bedroom home, which has been renovated since 2000 when it last traded for $1.85 million, is for sale again by negotiation.It has five bathrooms, a gourmet marble kitchen, a library with a fireplace, multiple formal and informal living areas and dining rooms, a championship-size floodlit tennis court, a self-cleaning pool and a pavilion — all on a 2810sq m block. The home comes with seven bedrooms, four bathrooms and room for five cars.It has seven bedrooms, two studies, four bathrooms, room for five cars and a pool, and sits on a huge 3923sq m block.Records show the house sold for $4.35 million, plus $2.2 for the additional land a decade ago.2. ‘Cintra House’ – 23 Boyd St, Bowen HillsNo price guideLast sold for $2.1m in 2001