Gold Coast mansion hits the market at $4.7 million

first_imgThe soaring central atrium above the dining area is a standout feature. The mansion at 102 Amalfi Drive was designed by acclaimed architect Bayden Goddard.LIVING in this Isle of Capri mansion is like cruising down the river on a luxury boat.That’s how owner Vivian Kuo described it, explaining it had been designed by acclaimed architect Bayden Goddard to make the most of its water views with walls of windows.“When you sit in the living room, you look outside and feel like you’re on a boat,” Mrs Kuo said. More from news02:37International architect Desmond Brooks selling luxury beach villa16 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag2 days agoThe kitchen has a marble island.But an exclusive ticket onto this ship-like home comes at a hefty price.The mansion has hit the market with a $4.695 million price tag.Mrs Kuo and her husband, Andy Li, bought the property at 102 Amalfi Drive in 2015 where they have lived with their children since.“We love the house very much,” Mrs Kuo said.“The reason we bought this house was because everything is very modern and unique.”The five-bedroom home is solid concrete with wood and marble featured throughout. The master bedroom has panoramic views of the river and city skyline.A soaring central atrium and outdoor entertainment area with infinity edge pool and built-in daybed are standout features.Mrs Kuo said the open floorplan, which flowed seamlessly outside, was what she loved most about the home.“I really like when I’m at the kitchen and I can see all the around the house,” she said.“There’s very big windows so you can see through if (the kids) are swimming.“My kids love the swimming pool very much, it’s a heated pool so even in the winter you can still swim.”They are reluctantly moving for personal reasons.Nick McHutchison and Michael Kollosche of Kollosche Prestige Agents are marketing the property. The heated pool is perfect for a dip year round.center_img The views can also be admired from the ensuite bath. Admiring the water views from the lounge room window is like being on a luxury ship. Mood lighting.last_img read more

Property prices named the worst thing about Australia

first_imgVideo Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 2:09Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -2:09 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD432p432p360p360p216p216pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. 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This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenWhy rental affordability is a problem02:09AUSTRALIA’S reputation as one of the least affordable places to buy or rent in the world has seen the property market named the worst thing about the country — but even that won’t stop buyers. The allure of real estate here continues to hold firm compared to other destinations, with the latest WorldFirst Australian Liveability Ranking showing Australia’s property ranking above average for the rest of the world.The rankings — where expatriates and overseas-born residents rated Australia against the rest of the world — saw rental prices named the worst thing about Australia (5.2/10) with house prices coming in a close second worst (5.5/10). Shock as parents buy preschoolers’ new home FOLLOW SOPHIE FOSTER ON FACEBOOK Buy a penthouse and a pub WorldFirst head of foreign exchange Patrick Liddy found the results encouraging given none of the Australian rankings were below four.“Even the worst aspects of Australia — our property and rental prices — scored above five, which means they are just above average.“While it may seem that most people move abroad for work-related reasons, quality of life and safety are Australia’s biggest drawcards.”And, he said, all job-related factors were part of Australia’s top 10 best offerings. Brisbane safe as houses: RBA survey Rental costs were considered the worst thing about Australia followed by house prices. MORE: Quality of life had the top score of 8.2 for Australia — one being “very poor” and 10 being outstanding in comparison to their birth country.Safety (7.7), the weather and healthcare (both 7.5), wages (7.4), work/life balance (7.2) and career opportunities (7.0) all ranked the highest.More from newsParks and wildlife the new lust-haves post coronavirus15 hours agoNoosa’s best beachfront penthouse is about to hit the market15 hours ago The country’s political wrangling hasn’t done it any favours with politics named the third-worst thing (5.9/10) followed by the cost of living (5.9/10).The best thing about Australia was its quality of life, according to the survey of people born in the UK, Ireland, China, Hong Kong, Singapore, Japan, Korea, India, Philippines, North America and New Zealand. Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 0:51Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:51 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD576p576p432p432p270p270pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenStarting your hunt for a dream home00:51last_img read more

Townsville’s north continues rapid growth

first_imgA render of the North Shore car wash which is under construction.“The last 12 months in particular has seen North Shore grow with the opening of the North Shore State School, ArcCare Aged Care and stage two of the North Shore Medical Centre,” he said. “This population growth is now to a critical mass point where commercial ventures are becoming financially viable in the Northern Beaches of Townsville such as the Car Wash and the master plan of North Shore is maturing into a township.” A render of the North Shore car wash which is under construction.TOWNSVILLE’S northern growth corridor is continuing to develop at a rapid pace with a $3 million car wash the latest project to get the green light.The Northshore Car Wash is under construction and will be open by mid 2019.It’s being built by Halcorp Developments near Bunnings on North Shore at 6 Galax Entrance.It will have a retro inspired, mid-century design complemented with the latest car wash technology available. A render of the North Shore car wash which is under construction.Halcorp Developments director, Rick McLaren, said the project was designed to deliver a fun car, boat, caravan and pet washing experience rather than it being a chore. “We have done extensive research on the latest trends and innovations available in this sector including a research trip to the United States,” he said.More from news01:21Buyer demand explodes in Townsville’s 2019 flood-affected suburbs12 Sep 202001:21‘Giant surge’ in new home sales lifts Townsville property market10 Sep 2020“We have found that the industry is moving towards creating more of an experience for users, a hub where people can take the kids to wash the car and dogs and actually enjoy it.“We engaged emerging architectural firm Twohill and James to help rethink the design from scratch, and create a facility designed specifically for the user experience. “We have taken inspiration from the 1950s and 60s, a time when cars were celebrated and taking care of them was important, and we have overlaid this with a modern, subtropical design aesthetic.”center_img A render of the North Shore car wash which is under construction.The car wash will have state-of-the-art equipment such as fragrant dispensing vacuums, a twin-bay “Pooch Pit” with a clean design inspired by the tropics to fit in with Townsville’s landscape.The multimillion-dollar facility follows a wave of commercial and residential development in Townsville’s northern suburbs.A $1.2 million youth activation hub featuring a skate park and obstacle course is also planned for North Shore and is due to be finished next month. North Shore project director Andrew Astorquia said the masterplanned community had grown to 5500 residents with the trade catchment of the North Shore Town Centre servicing over 23,000 people. last_img read more

Reno rumble: Meet the young couple shunning Netflix for home renovating

first_imgJuliette and Daniel Meek at the house they have renovated and are now selling at 27 Trouts Rd, Everton Park. Picture: Liam Kidston.JULIETTE Meek cannot remember the last time she and her husband, Daniel, went on a holiday or watched Netflix.The young couple are busy hotel managers by day and DIY renovators by night — and weekends.But they wouldn’t have it any other way. RELATED: Dream home a decade in the making AFTER: The back deck was added during the renovation. AFTER: One of the bedrooms after the renovation.She and her husband try to do most of the work themselves before calling in the professionals.“We do all the demolition ourselves, including ripping up tiles, taking down walls, landscaping, part of the painting,” Mrs Meek said.“There was a lot of painting this time!”She said one lesson they had learned was to always factor in delays and the likelihood of going over budget. AFTER: The living area of the home at 27 Trouts Rd, Everton Park, after the renovation.“He’d put aluminium cladding over the beautiful weatherboards outside and tiled over all the original floorboards, so we had to take up all of the tiles,” she said.“We basically stripped it all back.”Mrs Meek said they restored the VJ walls and polished the timber floors, but otherwise gutted and redid everything else, all the while being mindful of keeping the home’s original character. AFTER: The back of the home after the renovation.The original house had three bedrooms, one bathroom and a laundry downstairs.The Meeks have transformed it into a four-bedroom, two-bathroom home with an internal laundry, front porch and back deck.They used luxury finishes such as Carrara marble to add a contemporary touch.“We actually considered moving into this one,” Mrs Meek said.“It’s a little heartbreaking to sell actually because it’s really beautiful.” BEFORE: The house at 27 Trouts Rd, Everton Park, before it was renovated. Photo: CoreLogic. BEFORE: The back of the house at 27 Trouts Rd, Everton Park, before it was renovated. BEFORE: One of the bedrooms in the house before it was renovated. AFTER: The kitchen is almost unrecognisable after the renovation.Mrs Meek said the home’s previous owner was an older gentleman who “loved to tinker” and had made several interesting improvements to the house over the years.“I think he was a bit of a hunter gatherer,” she said. MORE: Honey Badger’s reno rumourscenter_img AFTER: The front of the home after the renovation.“It took me at least six months to find it,” Mrs Meek said.“I really wanted to get in to Everton Park. The location is great, there’s lots of development happening, it’s a really great family area and a bit of a growth suburb.”They made an offer for the house at 27 Trouts Road the same day they inspected it.“We just know when we find something,” Mrs Meek said.“We were looking for a decent sized block, a good location — the high school and shops are at end of the road and a bus stop across street — and then potential in the house. “I just love character homes and this is 1920s, so it has the original VJ panelling, 10 foot ceilings and a good floor plan you could work with.” BEFORE: The kitchen at 27 Trouts Rd, Everton Park, before it was renovated. More from newsNoosa unit prices hit new record high as region booms: REIQ12 hours agoParks and wildlife the new lust-haves post coronavirus12 hours agoBEFORE: The living room before it was renovated. “We started renovating on the side because, you know, life’s not busy enough!” Mrs Meek said.Their latest project — their third in three years — is a character home in Everton Park. AFTER: The main bedroom in the home at 27 Trouts Rd, Everton Park, after the renovation.But the end result was worth it.“I have no life! It’s so sad,” Mrs Meek laughed.“It’s enjoyable at the end of it though.”The property is for sale by offers and is being marketed by Patrick McKinnon and Will Churchill of Place Estate Agents.RENO FACT CHECKTime taken: 12 monthsTotal spend: $200,000 BEFORE: One of the bedrooms in the house at 27 Trouts Rd, Everton Park, before it was renovated. “We found lots of little hidden treasures, like a bike, an old army helmet and a well out the back, so there were some really interesting things in the house.“We also found a whole collection of Slim Dusty CDs.”But Mrs Meek said many of the original, character features of the period home had been covered up.last_img read more

Beachfront apartment sale smashes records in Noosa

first_imgA beachfront unit on Hastings Street in Noosa has sold for close to $11m.THE highest price ever paid for an apartment in Noosa has been eclipsed by the sale of a beachfront unit for just shy of $10 million.Records are tumbling in the seaside town following a resurgence in beachfront property sales, according to Tom Offermann of Tom Offermann Real Estate. This apartment at 6/55 Hastings St, Noosa Heads, has broken the record for an apartment sale in Noosa Heads.The property at 6/55 Hastings Street was listed with a price guide of $11 million and has sold for just under $10 million cash unconditional, although the exact sale price has not been revealed.The buyer is a middle-aged couple from Brisbane looking for a lifestyle change who plan to use it as a ‘lock and leave’ investment.The sale smashes that of the previous record for an apartment in Noosa, which was set in September when another beachfront unit at 2/23 Hastings Street sold for $8.25 million. The view from the apartment at 6/55 Hastings St, Noosa Heads.Marketing agent Roark Walsh of Tom Offermann Real Estate, who negotiated the sale with Nic Hunter, said the sale price equated to around $40,000 a square metre, which was the highest price per square metre ever achieved for an apartment in Queensland.Mr Walsh said the property attracted interest from expats and potential buyers from Sydney and Melbourne.“Hastings Street is probably one of the premier streets in Australia,” Mr Walsh said. “There’s only so much of it. We can’t redevelop it anymore.” Inside the apartment at 6/55 Hastings Street, Noosa Heads.The huge apartment spans about 240 sqm with an 8m beachfront terrace, and has three bedrooms and three bathrooms.It is one of only six apartments in the boutique Noosa Court building fronting Noosa’s Main Beach. Records show the property last sold in 1996 for $2 million. More from newsParks and wildlife the new lust-haves post coronavirus10 hours agoNoosa’s best beachfront penthouse is about to hit the market10 hours agoThe view from 6/55 Hastings Street, Noosa Heads.Earlier this year, another beachfront apartment in the La Mer building at 5/37 Hastings Street sold for $6.1 million. Tom Offermann of Tom Offermann Real Estate said recent interest rate cuts and looser lending criteria had bolstered market confidence.“Noosa Main Beach is one of a very few true, north-facing beaches on the east coast of Australia,” Mr Offermann said. “Noosa has an amenable subtropical climate and a town brimful with natural assets, which turns holiday-makers into property buyers — something I have experienced over 30 years.” One of the bedrooms in the apartment at 6/55 Hastings St, Noosa Heads.Mr Offermann said Noosa’s apartment market had topped the country for capital growth over the past year at a rate of 24.8 per cent. “The investment potential speaks only of enviable financial success for those who are fortunate to acquire their piece of Noosa Heads’ hottest real estate,” he said.last_img read more

Buyer demand explodes in Townsville’s 2019 flood-affected suburbs

first_imgVideo Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 1:21Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -1:21 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD540p540p360p360p270p270pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenHow to buy your first home01:21SOME of Townsville’s flood-affected suburbs have seen a resurgence in buyer demand, with interest up 96.7 per cent in one of the most impacted suburbs.Exclusive data from realestate.com.au shows that Hermit Park, which is known for its good school catchments and charming Queenslander homes, has seen the biggest year-on-year growth in demand, with its median sales price reflecting the renewed interest from buyers.Thirty-four houses and 25 units have changed hands in the tightly-held suburb over the past 12 months, with the median sales price for houses up 22.8 per cent in three months to $316,500.Over 12 months, the median house sales price has increased 4.2 per cent, according to the REA Market Trends report for August.But the data shows median house prices in Hermit Park still have some ground to make up on its 10-year median sales price of $389,000. MORE NEWS: ‘Giant surge’ in new home sales lift Townsville property market Aerial damage of Rooneys Bridge, Railway Estate from a helicopter. Picture: Zak SimmondsRay White’s Julie Mahoney is marketing a Queenslander packed with period features at 47 Ackers Street in Hermit Park. 47 Ackers St, Hermit ParkShe said many of the flood-affected suburbs were “off-the-market” for a few months after the unprecedented 2019 inundation, which was caused by a tropical low that parked itself over the region, causing heavy rain, flash flooding and forced the complete opening of the Ross Dam spillway.But buyers were now being drawn back to these suburbs.“People love the area (Hermit Park). It has got some great school zones and the houses are divine and full of character,” Ms Mahoney said.“Just recently (September 1) we sold one on Carmody Street at auction with eight registered bidders.”Ms Mahoney said Idalia, another suburb affected by the extreme weather event, was also seeing a comeback.The realestate.com.au data shows year-on-year buyer demand in Idalia is up 81.5 per cent.Median house prices slumped 9.9 per cent over the 12 months to August, but the suburb recorded a 3.3 per cent increase in prices in the past three months to $410,000.Five years ago, the median house sales price in Idalia was $530,000.*** TOWNSVILLE REGION Hog’s Breath founder sells Whitsunday mansion Suburb/Demand Year-on-YearHermit Park 96.4%Rasmussen 85.6%Heatley 84.4%Condon 82.2%Idalia 81.5%Aitkenvale 62.9%Kelso 60.3%Mount Louisa 58.0%Bohle Plains 53.1%Ayr 51.9%Home Hill 48.0%Annandale 46.7%Mundingburra 45.6%Railway Estate 42.0%Gulliver 40.7%Bushland Beach 39.0%Douglas 37.2%Burdell 27.4%Ingham 24.5%Kirwan 23.7%(Source: realestate.com.au)***More from news01:21‘Giant surge’ in new home sales lifts Townsville property market10 Sep 202002:12The suburbs posting median sales price increases despite Covid2 Sep 2020Keyes & Co principal Damien Keyes, who has a number of listed properties in Idalia, said the appetite for quality houses in Idalia “has been fantastic”.“I have achieved roughly pre-flood valuations in a number of price points in Idalia,” he said.“Buyers are asking lots of questions (about the impact of the floods) but they are also seeing the chance to buy a well-finished property in a nice suburb close to the city, one they may not have been able to afford to buy into a few years ago.” Aerial damage of Idalia from a helicopter during the 2019 floods. Picture: Zak SimmondsMr Keyes said he recently sold a lakefront house in Idalia for $760,000 – the highest price achieved so far in Idalia post-flood, he said.“It was snapped up by a family who experienced the floods in an older suburb,” he said. “Buyers are coming in eyes wide open, and asking questions around whether properties were flood-affected before the dam was released.“The general attitude seems to be that the weather event was a freakish one compounded by the management of the dam and that is something buyers are prepared to wear, that they believe that won’t be stuffed up again.” Keyes and Co Property Director Damien Keyes.Railway Estate has seen a 42 per cent increase in demand, according to the realestate.com.au data.Thirty houses have sold in the past 12 months, with the inner-city suburb recording a 12-month median sales price increase of 3.9 per cent to $296,250.REA chief economist Nerida Conisbee said the recovery in affected suburbs was not dissimilar to other areas affected by natural disasters.She said the mining recovery in the region was also bolstering the market.“We see it after fires, floods, buyers come back because these events often happen in desirable areas,” she said.“We see a short-term dip (in values) but they almost always come back up.“We saw it after the Brisbane floods (2011), with all those affected areas now recording values well above what they did pre-flood.“You look at places like Florida (USA) which experiences hurricanes but people keep building there.“Buyers make adjustments for risk and desirability.” REA chief economist Nerida Conisbee Homeowners could save thousands switching to better mortgages nowlast_img read more

Relentless Growth of Cruise Shipping Sector Poised to Press On

first_imgThe cruise ship fleet is set to grow by 50 percent in the following ten years as cruise liners are expected to resume their ordering spree especially for the mega cruise ships.The current orderbook value stands at USD 47 billion, with 75 ships due for delivery by 2025.European shipbuilders still dominate the market when it comes to constructing these floating cities, led by the major three builders, Fincantieri, Meyer Werft and STX France. Furthermore, Fincantieri is keen on cementing its foothold with the acquisition of STX France.Fincantieri, including Vard, is building 29 of the 75 cruise ships due for delivery by 2025, Meyer Werft is contracted for 17, STX France for 12, and the new grouping owned by Genting Hong Kong – MV Werften – for six. In total, 11 of the 75 ships on order will use LNG fuel at sea as well as in port: two for Royal Caribbean International, two for MSC Cruises, and seven for Carnival brands.The result is that the current orderbook already represents another 250,000 berths being added to the global cruise fleet in the 10 years to 2025, increasing capacity by 40%.With further orders inevitably to be placed for deliveries within the second half of that 10-year span, fleet capacity will probably grow at least 50% and push the global passenger total up from 24 million last year to 30 million by 2022, towards 35 million by 2026 and then 40 million by 2030.In addition to the ever increasing number of cruise ships on order, the cruise lines are also investing heavily in refurbishment of their existing ships, with USD 1.5 billion spent on cruise ship refurbishment in 2016 alone. “One innovation stands head and shoulders above all others when it comes to explaining the improved profitability of the cruise sector and its relentless drive for growth and that is the creation of the ‘mega-ship’. We can expect to see plenty more – and probably even larger – cruise ships in the future,” Cruise industry analyst Tony Peisley says.According to Peisley, Genting Hong Kong’s purchase of four German yards will also eventually offer a welcome new option for other companies “frustrated by the full or fast-filling orderbooks of the other European shipbuilders.” “Today’s order book reflects our industry’s expectation for long-term sustainable growth, with additional capacity coming in to match stronger demand for cruise holidays. Never before have cruise lines committed to new ship orders spanning over such a long period of time,” Gianni Onorato, Chief Executive Officer, MSC Cruises, said.Image Courtesy: Fincantierilast_img read more

Randle Reef Cleanup Contract Signed

first_imgThe Minister of Environment and Climate Change, Catherine McKenna, last week announced a joint-venture contract award to Milestone Environmental Contracting Inc. and Fraser River Pile & Dredge Inc. for stage two of the Randle Reef Contaminated Sediment Remediation project. The contract, valued at $32.9 million, was awarded following a fair, open, and competitive process. The awarding of the stage-two contract is a significant milestone for the project and a clear demonstration that the project continues to move forward, according to the McKenna.As part of this contract, the company will dredge contaminated sediments from the harbor floor and place it into the engineered containment facility, currently under construction in the Hamilton Harbor.Work for stage two is scheduled to begin in the spring of 2018 and is expected to be complete in 2020.The Randle Reef cleanup is one of the largest remediation projects currently underway in Canada. The Government of Canada is leading the project in partnership with the Province of Ontario, the City of Hamilton, the City of Burlington, the Halton region, Hamilton Port Authority, and Stelco.last_img read more

Shell sells Comgás interest to Cosan

first_imgThe Hague-based LNG giant Shell, through its units Shell Gas, Shell Brazil Holding and Integral Investments, has agreed to sell its 16.8 percent interest in Companhia de Gas de São Paulo (Comgás) to Cosan.Under the agreement, Shell will exchange its ~21.8 million common shares in Comgás for Cosan Indústria e Comércio shares plus cash, Shell said in a statement.Comgás is a gas distribution company in the São Paulo state of Brazil, primarily serving power, commercial, industrial and residential users.The headline for the transaction approximately $380 million and is expected to be completed by year-end. Comgás is Brazil’s largest gas distributor with Cosan currently a 63.4 percent shareholder.“This transaction allows us to focus our efforts in Brazil on areas where we see the most strategic value for Shell longer-term,” said Shell’s integrated gas and new energies director, Maarten Wetselaar.Shell added that it retains operations in Brazil that are not affected by this transaction, including its deepwater portfolio and downstream business, which includes participation in Raízen, one of the leading biofuel producers in Brazil.last_img read more