ONE Bulimba Riverfront.Buyers wanting modern low maintenance apartments and townhouses are turning to a popular riverfront development with a focus on flexible family spaces.With only one town home and a few apartments available at ONE Bulimba Riverfront, developer Velocity Property Group is leading the refinement of the luxury downsizer demographic.Tracy Carmody and her husband Simon recently moved into their four-bedroom apartment with waterviews and could not be happier with the decision to downsize.With two teenagers, the couple had enough of maintaining a big backyard at their Morningside property, and were paying someone to mow and clean their swimming pool.“We’re on one level now, and the kids are happy,” Mrs Carmody said.“Living on the water is amazing. You never get sick of the view. It’s like always being on holidays. Check out the views from ONE Bulimba Riverfront.National sales director of Velocity Property Group, Caroline Humbert, said they identified clear buying needs and expectations within the downsizing demographic, as well as seeing the emergence of a younger downsizing group seeking more flexible family spaces.Ms Humbert said Velocity was continuously refining its developments to accommodate the specific needs of this segmented group, to ensure they were tailored to suit buyers.“An incredible location, such as Brisbane’s north-facing, absolute riverfront that the buyers experience at ONE Bulimba Riverfront, is not enough on its own to deliver a wonderful lifestyle anymore,” she said.More from newsParks and wildlife the new lust-haves post coronavirus10 hours agoNoosa’s best beachfront penthouse is about to hit the market10 hours ago“One of the strongest needs we have refined and offer at ONE Bulimba Riverfront is functional luxury. The highest quality kitchens, finishes and bathrooms are expected from this market, but so is great, highly-functional design that is intuitive to the way these buyers want to live and move around their new homes.“Luxury downsizers also expect residences that will anticipate their needs now, in areas such as wide living spaces connected to deep balconies, a great apartment flow, abundant storage and good space in at least three bedrooms.“But they also expect that their home will be flexible enough to anticipate the need for possibly repurposing rooms such as changing a media room to a home office or gym or to accommodate small changes throughout the residence if their health requires it in the future.” The kitchen area at ONE Bulimba Riverfront is so spacious.
A. P. Møller – Mærsk will no longer pursue a separation solution for its offshore marine services business, Maersk Supply Service.This was decided at a meeting of the company’s board of directors on March 29, 2019.Consequently, Maersk Supply Service will be reclassified from discontinued operations to continuing operations in A.P. Møller – Mærsk (APMM).As a result of the decision in 2016 to separate the oil and oil related businesses from APMM, Maersk Supply Service was classified as a discontinued operation and held as an asset for sale from Q4 2017.“Despite continuous efforts, no attractive separation solution has been identified for Maersk Supply Service, primarily due to the challenging market conditions with overcapacity within the offshore support vessel industry,” the company said in a statement.The sale was part of Maersk’s transformation from a conglomerate to an integrated global container logistics company, which included the separation of the group’s energy business.“We have over the past two years been investigating various structural solutions for Maersk Supply Service. However, having been unable to establish any solutions meeting our objective of creating shareholder value, we have decided to retain Maersk Supply Service,” Claus V. Hemmingsen, Vice CEO of A.P. Moller – Maersk and CEO of the Energy division, commented.“Maersk Supply Service launched a new strategic direction in the autumn of 2016 as a response to the downturn, which is positioning the company stronger and with a more robust and differentiated platform to compete from, when we eventually see a recovery within their core markets in the Oil & Gas space,” Hemmingsen added.A.P. Møller – Mærsk further said that Maersk Supply Service’s strategy remains focused on optimising the existing core business through time chartering out their assets, pursuing of new business as an integrated solution contractor, and by diversifying into new markets.The company has been progressing towards becoming a stand-alone entity. Today, it operates almost fully independently and will continue to do so, according to Maersk.Following the reclassification, Maersk Supply Service will be included in A.P. Moller – Maersk’s income statement, balance sheet and cash flow statement as part of the segment Manufacturing and Others.For the financial year 2018, Maersk Supply Service reported a revenue of USD 263 million and an EBITDA of USD 3 million with negative free cash flow (FCF) of USD 316 million due to the payment of four newbuildings.At the end of 2018, the Invested capital was USD 714 million following a negative fair value adjustment of USD 400 million recognized in Q3 2018. For 2019, the expectations are an EBITDA close to break-even level and a negative FCF of around USD 200 million due to delivery of the remaining newbuildings ordered in 2014.The reclassification of Maersk Supply Service will not affect the guidance for APMM for 2019, the company said.