France selling Property to reduce debt

Interesting consequence of the GFC is that the French government is selling Australian property to reduce their $2.1 TRILLION national debt. In November they sold a house in Bellevue Hill for $23 MILLION, after buying it 50 years ago for $26 THOUSAND.
Now they have put a property another Bellevue Hill house for an estimated $6M, fifteen years after buying it for $3.75M.

BCCT Silent on M2 Widening

The August 2010 bulletin of the Beecroft and Cheltenham Civic Trust provides an interesting history of the origins of Chilworth Recreation Reserve. The bulletin explains how in 1997, in response to massive public protests largely instigated and coordinated by the Civic Trust, the route of the M2 had been modified "to avoid destroying the park".

Perhaps more importantly, the carriageway over the park was deliberately split into two separate three-lane carriageways, to allow sunlight down into the space under the road. Here you can see how well that worked. My dog Binzi is standing under the city-bound carriageway, where the sun doesn't reach and the soil is of course barren. But in between the two concrete strips the greenery flourishes so this remains a very pleasant walk.

It is therefore rather surprising that the BCCT's August newsletter on the topic doesn't explain that Transurban propose to fill in this gap, and to extend the west-bound carriageway's width, to turn the overpass into a monster ten lane highway - a bicycle lane, three car lanes, and a bus lane, each way!

Compared to the outrage in 1997, described so comprehensively by the Beecroft Cheltenham History Group in this bulletin, one has to assume the present apathy of locals is more due to lack of information than anything else. Why isn't the BCCT out there telling people of what is about to come, instead of just publishing the decade-old history of the park?

Their website says "The BCCT has been very active in informing the 2119 residents about the forthcoming M2 upgrade. We have informed people via our newsletter and also we targetted a letter to all residents living adjacent to the M2" yet this latest bulletin contains only a history lesson. All their latest bulletin says on the future is "The 2010 proposed widening of the M2 means further impacts on the adjacent bushland and nearby households." I would have said, to use the BCCT History Group's own words, the proposed M2 widening project will destroy the Reserve.

PS added Jan 2011: I am now pleased to see that the BCCT has started its own blog and is addressing M2 and other issues there.

Property Investment Information Evening

Ray White Beecroft is pleased to invite you to a free Property Investment Information Evening on Tuesday 7 September, with guest speakers provided by Ray White Corporate.
Talks will be on topics like:
Stamp duty exemption for investors
Industry statisics and market trends
How to profit from changing trends in locations and property types
Maximizing borrowing power
Purchasing property through superannuation
The property clock and Area Hot Spots
How to use tax to assist wealth creation and financial security
Showcase of new projects and investment opportunities.
Contact our office for details and to book a seat. You are welcome to bring friends, but you must register in advance.