Property gamble sees a $4m price cut for former casino executive

first_imgThe owner of this stunning home accepted much less than he had initially wanted for the home.A GAMBLE on a six-star dream home failed to play out as a former casino executive envisioned, forcing him to accept a $4m price cut. Joe Guiseppe, who was an executive with Monte Carlo’s second biggest casino before he retired to his favourite holiday destination – Noosa – had developed a massive 2,611sq m waterfront site for his forever home. The arches are very European.Mr Guiseppe told The Courier-Mail that it was a sad day for him.“I feel sad because I will never (have) a house like this one. It was my private resort. But due to my illness I had to sell it albeit under market value.” Rooftop terrace at the stunning Noosa homeThe home sold for $4.75m on February 10 according to realestate.com.au. The home has a full size flood lit tennis court.Among the most striking feature was his creation of a grand waterfront entertaining pavilion between the pool and the waterfront, with a waterside roof terrace as well. center_img The ceilings soar above the living spaces.He threw in everything he’d seen highrollers become accustomed in Monte Carlo including soaring 3m high ceilings, a gourmet main kitchen plus a waterside kitchen, a massage treatment room with jacuzzi, a Hammam steam room with shower, a fully equipped gym, home cinema with bar, a gas heated Roman pool plus a 19m lap pool, a full size floodlit tennis court and a large boat jetty.More from newsMould, age, not enough to stop 17 bidders fighting for this home2 hours agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor8 hours agothe property has room for a large boat.But when illness struck he was forced to try and cash out of the property – which was when he hit a decade long hurdle.According to CoreLogic records, he had initially put the property on the market for a whopping $8.8m in 2006, then dropped the price to $7.3m between 2006 to 2009, before moving to $5.8m in 2011. He then tried putting it up for auction in 2013 and when that did not work, he had it sit on the market looking for offers over $4.7m. The home was meant to be a forever home.The home was designed so that multiple generations could coexist in the same space, with a retreat room that has its own lounge and full bathroom, a master bedroom with twin ensuites, three ensuited guest bedrooms, a guest living room with a kitchenette and a self-contained apartment for the caretaker or nanny.last_img read more

Its all about Myanmar in 2013

first_imgSource = e-Travel Blackboard: N.J International flights to and from Myanmar doubled in the last nine months of 2012, a growth rate that is expected to persevere in 2013. Myanmar’s “breakneck speed” travel growth could see international capacity to the destination double this year, according to a new study.A CAPA Aviation Analysis found that following the Democratic Party’s election in April 2012, international flights to and from Myanmar doubled in the last nine months of 2012, a growth rate that is expected to persevere in 2013.On the domestic front, local carriers are expanding, which will result in domestic growth and the likely launch of at least one new carrier and possibly the carrier’s first low-cost airline.Lao Airlines, is also likely to experience more growth, according to the report, particularly with its growing A320 fleet.Despite ongoing growth, the destination has been warned to tread carefully, with concerns more tourism could have Myanmar following the footsteps of its Asian neighbours.Click here for more information. last_img read more