Off the Record: Hong Kong businessmen eye luxury Adelaide homes after unrest continues
A group of cashed-up Hong Kong businessmen are eyeing luxury Adelaide homes, we reveal the big names behind Duxton Water and what happened when former British PM Tony Blair and ex-Foreign Minister Alexander Downer met in London?
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In this week’s Off The Record, a group of cashed-up Hong Kong businessmen are eyeing luxury Adelaide homes, we reveal the big names behind Duxton Water and what happened when former British PM Tony Blair and ex-Foreign Minister Alexander Downer met in London?
Hunt is on to find Adelaide’s most expensive house
With all the confusion and chaos erupting on the streets of Hong Kong in recent times, there are words and whispers that some worried locals are looking to move money out of the Chinese-controlled territory.
Off the Record hears talk around town several Hong Kong-linked businessman, presumably with deep pockets are looking to buy fabulous houses in safe old Adelaide.
It’s not the first time this rumour has appeared as the crisis in Hong Kong deepens. But the question is — how much are these buyers prepared to fork out to buy an Adelaide hideaway?
Off the Record has been told some of the buyers would not blink at smashing existing sale records, with prices of more than $10 million mentioned for the right place.
The record property transaction in Adelaide is the $8 million recorded for 19 Statenborough St in Leabrook, although it wasn’t strictly a sale.
The property was formerly owned by Richard DeChellis, but after the title was transferred SR Property & Consulting Pty Ltd holds a 10 per cent share in the under-construction home, while Dechellis Constructions Pty Ltd — of which DeChellis is one of four company directors — holds the other 90 per cent.
Still, there are a few other flash places on the market, which could satisfy.
Down at Glenelg South, 34 South Esplanade is being touted for between $5.5 million and $5.8 million. It does have lovely sea views.
If city living is more the go, the penthouse at The Wave complex on Gilles St is predicted to sell for more than $5.2 million.
Another penthouse at The Brougham in North Adelaide could sell for similar coin.
Off the Record now expects a pitched battle between local real estate types eager to muscle in on some of this high-rolling action.
Titans unite for education
Former United Kingdom Labour prime minister Tony Blair declared the tech revolution should be the “single most important focus of political debate” when he joined former Australian Liberal foreign affairs minister Alexander Downer this week to open the International School for Government at King’s College London.
Blair and Downer, the new school’s executive chair, discussed issues including governments dealing with technological change and whether parliaments were fit for purpose in the new world.
Blair said: “The tech revolution touches every single aspect of life; it’s going to change everything. It should be the single most important focus of political debate … many of those people in government — civil servants and politicians — don’t understand it. What you don’t understand, you fear. And what you fear, you dislike,’’ he said, possibly thinking of Brexit.
Downer said: “Governments of different creeds are struggling — and frequently failing — to meet the expectations of citizens, as evidenced by a lack of confidence in government institutions and events in recent political history.’’
Under-fire water barons wield influence and wealth
The Stirling-based Duxton Water has copped a hammering this week for allegedly hoarding billions of litres of water entitlements while the northern Murray Darling Basin is ravaged by epic shortages.
But those “water barons” behind the only ASX-listed firm with direct exposure to the water market have not been mentioned in articles — including an Alan Jones column — despite being among South Australia’s most wealthy and influential figures.
Duxton Water’s chairman is the sometimes reclusive Swiss investment banker Ed Peter, who has made a remarkable impact since arriving in Adelaide in 2013 with his wife Julie Peter (pictured right), a South Australian he met in a canoe in Canada.
His Duxton Asset Management business, the parent company to Duxton Water, has global interests worth $US700 million, of which $US460 million are in agribusiness.
His rejuvenated Crafers Hotel last year won the gong as the best hotel in Australia.
He has also transformed the Uraidla pub and owns the Stanley Bridge and the 2KW bar in the city. Peter also has significant land holdings and wine industry interests.
Bastion of the Adelaide establishment Peter Michell is a Duxton Water director — he is executive director at Michell Wool and was its managing director for a decade, from 2004-2014, when both Premier Steven Marshall and Sturt MP James Stevens were executives there.
Michell was an early backer of Marshall’s political ambitions and is considered a significant behind-the-scenes player with close ties to the heart of power.
Another director is former Murray Darling Basin Commission deputy president Dennis Mutton — a former chief of state departments including Primary Industries and Resources.
It should be noted that Duxton rejects allegations of hoarding water, saying it has less than 1 per cent of the water entitlements on issue in the regions it holds them and describing itself as a long-term investor in the permanent water entitlement market.
Livolsi does something on purpose
It’s always good to have an insight into the mind of self-described “entrepreneur, thought leader, philanthropist and business strategist’’ Kristian Livolsi.
The bloke has more titles than Prince Philip.
Livolsi has been a long-time friend of Off the Record. There was the lie he captained the junior Wallabies in rugby, the time he said his only regret was not firing people fast enough.
Not that Livolsi appreciates it.
He has recently sent legal letters this way. But Off the Record has enjoyed a series of emails he’s sent out recently.
One was about the “fabric of resilience’’, another on ‘how a tipping point can change your life’. Then came a spruik for a webinar “Finding your Purpose’’.
It was a “very limited’’ webinar with “only 80 spots’’ up for grabs for this free event. Surely, a call for money was coming? Sure enough.
“The offer to take this class FREE of charge is coming off the table. Once it’s down, you can buy the training if you like.’’ And he has a book. An introduction to a business growth mindset.
Labor wine
Former federal Labor tourism minister Martin Ferguson has been appointed Clare Valley Wine Grape Association chairman.
He was chosen in a deliberate move to lure more eastern states wine tourists and to help attract luxury accommodation to the region. Ferguson is also the chairman of the Tourism Accommodation Association of Australia.
We suspect noted Clare Valley winemaker and Labor powerbroker Don Farrell played a part in the appointment.
Struggling
Further to dentist Timothy Goh’s accusation that Premier Steven Marshall’s staff have orchestrated a smear campaign over his Bentley-driving wealth …
We reckon people might struggle to sympathise with one of the “real-world impacts” in the Property Council’s Land Tax Alert emails, issued the day after State Government changes were announced.
It’s a doctor who owns her southern suburbs consulting rooms, three investment properties and a regional holiday house.
Her land tax bill is rising from $21,360 to $56,826.
Playing up
Former TechInSA chief Joe Thorp has landed a gig on the board of the State Theatre Company.
Thorp is a director of boutique corporate advisory firm Slingsby Taylor where his wife, former Labor minister Trish White is executive director.
Thorp is also on the board of governors at St Peter’s, alongside names such as Premier and Cabinet chief Jim McDowell and LegCo president Andrew McLachlan.
The STC board includes ex-Jay Weatherill chief of staff Simon Blewett and former Labor MP Anne Levy.
