Major Sunshine Coast retail and entertainment hub in residential growth spot gets green light

first_imgBirtinya Town Centre renderA MAJOR retail and entertainment precinct on the Sunshine Coast has been given the green light.Stockland has announced that it has been granted planning approval for its proposed $830 million Birtinya Town Centre masterplan development.The development was approved by the Sunshine Coast Council on Monday.The 18 hectare development, approved by the Sunshine Coast Council on Monday, will include a new shopping centre, a service station, an entertainment precinct, a hotel, apartments, drive-thru restaurants, a town square with green space, and a walkable waterfront along Lake Kawana.“This masterplan approval defines the shared vision for a vibrant mixed use precinct for the $5 billion Oceanside community on the Sunshine Coast,” Stockland CEO and managing director Mark Steiner said.“With the regions’ above average population growth, 130,000 residents are forecast to livewithin the main trade area by 2031. “Our vision for the Birtinya Town Centre is to deliver a true people’s place, with lifestyle amenity for the community now and into the future.”The town centre will be located on Kawana Way and adjoining the Sunshine CoastHealth Precinct, which incorporates the Sunshine Coast University Hospital, Sunshine CoastUniversity Private Hospital, and the Sunshine Coast Health Institute.More from newsParks and wildlife the new lust-haves post coronavirus22 hours agoNoosa’s best beachfront penthouse is about to hit the market22 hours agoCycle ways, walkways, boardwalks and bridges will link the town centre to Birtinya Island, Bokarina Beach and the Business Village.Stockland Queensland general manager Kingsley Andrew said the Birtinya TownCentre masterplan was the “next big catalytic project for Oceanside”. “… bringing together commercial, apartments and mixed use development with open green space to create jobs and drive future investment across the Sunshine Coast region,” he said.“This will be Oceanside’s dynamic urban heart, a place that is centralised and accessible – aplace that connects people for business and fun, and, importantly, creates a regionaldestination for the Sunshine Coast.”The developer estimates that more than 550 jobs will be created during construction, with more than 14,600 new full time jobs on completion.The first stage of the town centre masterplan is the $87 million Stockland Birtinya ShoppingCentre, with works expected to commence before Christmas.last_img read more

Royal Bank of Scotland brings forward £4bn deficit reduction payment

first_imgUnder the current recovery plan, agreed to resolve a £5.6bn actuarial deficit after the 2013 triennial valuation, RBS will make annual payments of £650m in 2014-16 and then an index-linked payment of £450m from 2017-23, in addition to annual contributions of £270m to cover staff contributions and scheme running costs.The bank said it expected to report an actuarial deficit of £3.3bn in its main scheme, which closed to new members in 2006 and claims all but 10,000 of the company’s 230,000 DB members.The fund’s trustees have, since 2008, been gradually implementing a de-risking strategy, reducing equity exposure and using interest rate and inflation hedging overlays to largely hedge its rate and inflation exposure. Royal Bank of Scotland (RBS) is to bring forward a £4bn (€5.3bn) payment to its pension fund to settle the defined benefit (DB) scheme’s deficit.Following discussions between the UK lender and pension trustees, the £30bn fund’s triennial valuation has been brought forward by up to six months, while the £4.2bn payment will be made on 31 March, the previous date for the triennial valuation.The one-off £4.2bn payment sees no new money for the scheme but rather consolidates into a lump sum the deficit and other payments previously scheduled for the years until 2023.As a result of the payment, announced in a trading statement, RBS said it expected its common equity tier 1 (CET1) ratio to fall by approximately 0.7%.last_img read more

MORE Power: No order to stop operation

first_img* transition period * maintain the status quo of theoperation so as to give time for MORE Power to orient / train / immerse itspersonnel before it fully takes control of the operation But Teodosio disagreed. * accounting Contreras came up with the order “dueto the parties’ failure to come up with an agreement and to satisfy theapprehension of the court, that led the court to issue the Addendum.” Therefore, he stressed, the status quoin the operation of the power distribution system remains. POWER IN THEIR HANDS. Personnel of MORE Electric and Power Corp. check the power substation on General Luna Street, Iloilo City after taking over the facility from Panay Electric Co. * inventory of real properties alreadyunder the possession of MORE Power ILOILO City – MORE Electric and PowerCorp. (MORE Power) has been operating the power distribution system here sincetaking over Panay Electric Co.’s (PECO)’s substations Friday last week. * install MORE Power which may deployits personnel to man and oversee the substations to exercise its possession andcontrol of the distribution facilities, but the operation should still behandled by PECO personnel who has the technical expertise * serve the writ in a peaceful manner * see to it that no PECO personnel inthe rank and file would be displaced during the transition period It contained guidelines on how to goabout enforcing the Writ of Possession to ensure the continuous supply ofelectricity in Iloilo City. These were: It dismissed claims that the RegionalTrial Court (RTC), Branch 23 ordered it yesterday to stand down. “MORE Power remains in full control,”said Teodosio.center_img * turnover of records like the list ofconsumers “Nagpapasalamatkami sa korte sa paglilinaw na dapat talaga ang may hawak pa ng operasyon ng electric distribution facilityay PECO. Nakita naman natin inthe course of the hearing kung paanopaulit-ulit subukang suwayin ng MORE Power ang nasabing direktiba ng korte,” said Atty. Estrella Elamparo,PECO legal counsel. “The court simply said we respect theAddendum. Sa Addendum naghambal ang court nga ang operation ihatag sa PECO personnel, indi sa PECO management.There is a difference between PECO personnel and PECO management,” stressedTeodosio. * documents relevant to the operationof the distribution system, among others In an order afterwards, PresidingJudge Emerald Requina-Contreras ordered both parties “to respect the Addendumto the WOP pending the court’s verification of the status of MORE Power’s andPECO’s Certificate of Public Convenience and Necessity (CPCN) or until March26, 2020.” “Ginsunodsang MORE Power ang Addendum. Pareho mangihapon nga mga personnel ang naga-dutysa substations halin sang Feb 28. Pero nag-transferna ang ini nga mga personnel sang employment sa MORE Power, kag ini manang ginamandu sang MORE franchise law kagni Judge,” said Teodosio. In order yesterday, Contreras setfurther hearing of the expropriation case on March 26, 8:30 a.m. There was no order to return the powerdistribution operation to PECO, stressed Atty. Hector Teodosio, MORE Powerlegal counsel. What was stated in the Addendum? Any move of PECO to take over thepower distribution facilities will be resisted, he added./PN RTC Branch 23 heard yesterday PECO’sMotion for Clarification on the Feb. 20 Writ of Possession (WOP) which theformer issued in line with the expropriation case MORE Power filed againstPECO. * inventory of personal propertiesunder Category A As part of the addendum, the court alsoordered MORE Power and PECO to submit their respective proposals as to theirtimelines on the following matters:last_img read more