Tasmanian Business Reporter August 2017

AUGUST 2017 

T A S M A N I A’ S L E A D I N G B U S I N E S S P U B L I C A T I O N . C I R C U L A T I O N 1 2 , 0 0 0 M O N T H LY 

University 

in $950m 

building 

bonanza 

The University of Tasmania is 

promoting developments that 

provide modern approaches 

to education 

UTAS plans 

a big boost 

An artist’s impression of the University of Tasmania’s Northern 

Campus development at Inveresk in Launceston. 

Are you 

a small business 

with a 

gap 

to fill 

By TOM O’MEARA 

THE University of Tasmania 

is creating a massive economic 

boost for Tasmania with $950 million 

of development under way or 

in advanced planning. 

UTAS will soon make a decision 

to spend $600 to $700m to 

refurbish its Sandy Bay campus or 

sell the millions-plus dollar property 

and re-build in the Hobart 

CBD or nearby. 

Projects include the new $300m 

Launceston campus, for which the 

master plan was recently released; 

the STEM project in Hobart CBD 

($400m building support), Burnie 

campus ($50m, supported), as well 

as student accommodation sites in 

Inveresk, Launceston, North Hobart 

and Argyle St ($150m plus). 

Real estate agents won’t put a 

dollar figure on the value of the 

Sandy Bay site, but suggest the 

millions of dollars raised by selling 

would make a contribution towards 

the cost of a new campus. 

Agents said the UTAS property, 

which stretches from Sandy 

Bay Rd up to Mt Nelson, is covered 

by one planning zone which 

includes the recreation areas, education 

buildings and management 

building. 

Agents say rezoning would be 

extremely sensitive and complicated 

with UTAS having to work 

closely with the Hobart City 

Council before a departure from 

Sandy Bay and also having to 

seek assistance from the HCC for 

a new campus in the city. 

While UTAS relies on funding 

from all levels of government, it 

is paying its way to ensure developments 

that provide more modern 

approaches to education. 

The impact of the UTAS developments 

were highlighted recently. 

The Launceston launch of the 

UTAS master plan of the new Inveresk 

campus by Vice-Chancellor 

Peter Rathjen also included 

Treasurer Peter Gutwein, Federal 

Assistant Minister for Cities Angus 

Taylor and Launceston Mayor 

Albert van Zetten. 

Mr Rathjen said it was a major 

step in Launceston’s history 

and the first step of transforming 

Launceston into a “University 

City”. 

Apart from an additional 220 

new academic and supporting positions, 

UTAS is also contributing 

$60.5m toward the project along 

with $130m from the Federal 

Government and $65m from the 

State Government and the Launceston 

City Council. 

On the day of the Launceston 

launch a report on the benefits of 

a $400m STEM centre in the Hobart 

CBD was a key to a project 

expected to add 3000 students and 

some 700 staff. 

Continued page 2 

Let Cam take care 

of the rest. 

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2 Tasmanian Business Reporter - AUGUST 2017 

NEWS 

Five days to a 

better career 

OVER the past 20 years, 

close to 40,000 people 

have completed the Australian 

Institute of Company 

Directors’ flagship 

Company Directors 

Course TM . 

Dr Katherine Woodthorpe 

FAICD knows as 

well as anyone the longterm 

benefits of continuing 

professional education. 

After her time at the 

helm of the Technology 

Industries Exporters 

Group in 1997, Dr 

Woodthorpe joined the 

board of an ASX-listed 

company. 

She found that despite 

her depth of experience 

in public affairs, the tech 

and superannuation industries 

and private equity 

– Dr Woodthorpe was 

CEO of peak body, AV- 

CAL, between 2006 and 

2013 – she was in need 

of a course that would 

bring her up to speed on 

governance, corporations 

By CATHIE GOSS 

Manager, 

AICD Tasmania 

law and her directors’ duties 

and responsibilities. 

“As a scientist and later 

a business person who 

had only worked in technology 

organisations, I 

was sorely lacking in the 

broader skills needed on 

a board. 

“The Company Directors 

Course gave me 

those skills and an understanding 

of my role and 

responsibilities,” she said. 

She said the course 

formed the foundation 

to her career as a director 

and remained as valuable 

to her now as it was 

when she completed it 18 

years ago. 

“The course underpins 

all my knowledge about 

governance on which I 

have built my experience 

to bring me to the level I 

am at today,” Dr Woodthorpe 

said. 

She chairs Australia’s 

largest start-up community, 

Fishburners; the 

Antarctic Climate and 

Ecosystems Cooperative 

Research Centre; and 

HEARing CRC, in addition 

to her roles as a 

non-executive director. 

She considers the fiveday 

investment in the 

course invaluable for 

anyone interested in being 

a professional director 

in the long term. 

Find out more at aicd. 

companydirectors. 

com.au/cdc 

e dition 

T A S M A N I A’ S L E A D I N G B U S I N E S S P U B L I C A T I O N . C I R C U L A T I O N 1 2 , 0 0 0 M O N T H LY 

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Tasmania’s business newspaper is published monthly by the 

Tasmanian Chamber of Commerce and Industry. It is distributed 

to businesses in Tasmania as well as key decision-makers. 

Circulation: 12,000 

Managing Editor: Tom O’Meara 

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Editorial & Advertising 

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Publisher: 

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309 Liverpool St, Hobart, TAS 7000 

Ph: 6236 3600 Fax: 6231 1278 admin@tcci.com.au 

TFGA House, 194-196 Cimitiere St, Launceston TAS 7250 

Ph: 6331 1144 laun@tcci.com.au 

Production: 

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Printer: Mercury 

Level 1, 2 Salamanca Square, Hobart, 7000 

‘Proper’ pies cross Strait 

Tasmanian Bakeries employee Darren McHenry with a 

tray of “proper” National brand party pies. 

Uni’s $950m building plans 

From Page 1 

Nodes at the Launceston 

and Burnie campuses 

will share the benefits of 

knowledge throughout 

the state. 

The report from Nous 

Group, engaged by the 

UTAS, said the Hobart 

precinct would bring together 

the IMAS building, 

the Medical Science 

(Menzies) Centre, the 

Creative Exchange Institute 

proposed for 2019 

and a STEM centre in 

Melville St into a centralised 

education hub. 

However, the project is 

in competition for funding 

with a $490 million 

Bridgewater bridge project 

to overcome the bottle 

necks on a narrow historic 

bridge. 

The Federal Government 

has said the state 

and southern councils 

have to make the decision 

on which project 

they support because 

there won’t be funding 

for both. 

HCC and other southern 

councils are expected 

to support the STEM 

project but the State 

Government and broader 

community are yet to 

decide. 

Apart from the UTAS 

announcements, July 

2017 will be remembered 

as the infrastructure 

month with major 

developments throughout 

the state including: 

• MONA’s $300m hotel/casino 

development 

at Rosetta; 

. • a $100 million Table 

Cape resort approved 

by Waratah-Wynyard 

Council; and 

• a $280 million Wind 

Farm at Granville Harbour 

on the West Coast. 

TASMANIAN Bakeries’ iconic National 

pie will be available at supermarket giant 

Woolworths’ 240 Victorian stores from this 

month. 

CEO Shaun Hancock said the team was 

very proud that it would be satisfying 

the craving for “proper” National pies in 

Victoria. 

“During July, the team was extremely 

busy building 150 pallets to fill eight freezer 

containers in preparation for the product 

launch in Victoria,” Mr Hancock said. 

Tasmanian Bakeries is a third-generation 

Tasmanian family-owned business, 

established in 1942 by Alfred Gough, a 

local butcher. 

The bakery employs 95 people and still 

bakes its pies and pastries fresh every day 

in Hobart before distributing throughout 

Tasmania and interstate. 

Mr Hancock said all Tasmanian Bakeries’ 

products proudly displayed the Tasmanian 

Bakeries Quality Guarantee on the 

packaging. 

“This reinforces our Tasmanian heritage 

and our strong commitment to use Tasmanian-sourced 

ingredients where possible,” 

he said. 

“We believe wholeheartedly in Tasmania 

and supporting other Tasmanian businesses. 

“While we directly employ a team of 

local butchers, bakers and pastry makers, 

just as importantly, we have always supported 

Tasmanian suppliers. 

“We look forward to sharing another 75 

years with all Tasmanians, our farmers, 

suppliers and local businesses,” he said. 

The striking 

$300m hotel/ 

casino 

development 

proposed 

by Mona at 

Rosetta. 

Thinking of selling or 

buying a business? 

Australia’s largest specialist 

business broker network is 

now in Tasmania. 

Call Dean Demeyer on 

0419 382 359 for a FREE, no 

obligation assessment 

of your business. 

www.finnbusinesssales.com.au

TASMANIA’S LEADING BUSINESS PUBLICATION. CIRCULATION 17,000 MONTHLY 

Help meeting labour needs 

Tasmanian Business Reporter - AUGUST 2017 3 

NEWS 

World-class dementia village 

A DELUXE resort has 

been approved to drastically 

change the face of 

Table Cape and transform 

the local economy. 

Waratah-Wynyard 

Council has unanimously 

approved the $90 

million development, 

proposed by Table Cape 

Enterprises, with construction 

expected to 

start in 2019. 

Mayor Robby Walsh 

said it was the most exciting 

development ever 

received by the council. 

“This is a real 

PLANS have been unveiled 

for a ground-breaking 

$25m Australian-first 

suburban village, designed 

to recreate real life 

experiences for those living 

with dementia. 

Tasmania has the fastest 

ageing population in 

Australia and dementia is 

the second leading cause 

of death in the nation. 

Without a medical 

breakthrough, it is expected 

by 2056 the number 

of people living with 

dementia will increase to 

about 1.1 million. 

Korongee is a partnership 

between Glenview, 

HESTA and Social Ventures 

Australia and is to 

be built with the assistance 

of the Commonwealth 

Government. 

The village structure 

will be based on a typical 

Tasmanian cul de sac 

streetscape that allows 

residents to feel at home 

$90m resort 

emerges from 

Table Cape 

game-changer for the 

whole North West region 

with enormous 

benefits for tourism and 

the local economy,” Cr 

Walsh said. 

“Significant employment 

opportunities will 

be generated throughout 

the construction phase, 

which is expected to 

take up to two years 

and create 116 full-time 

equivalent jobs. 

“Post construction 

there will be more than 

80 ongoing positions and 

it is projected to inject 

AS part of the Population 

Growth Strategy, 

TCCI Employer Connect 

facilitates opportunities 

for skilled migrants to 

engage with Tasmanian 

businesses. 

The TCCI, through 

consultation with members, 

understands that 

accessing skilled labour 

can be challenging in a 

small labour market. 

In recognition of this, 

TCCI is offering the opportunity 

for your business 

to connect with 

skilled migrants through 

a structured work experience 

with a view to employment. 

All individuals are 

assessed for their work 

readiness and English 

language proficiency 

before being connected 

with an employer. 

Employers and individuals 

will be supported 

through the process, 

and wander freely within 

a safe and supported environment. 

Glenview chairman 

Iain Weir said Korongee, 

in Glenorchy, would 

be the first of its kind in 

Australia to offer this 

proven and cutting-edge 

model of care. 

“In essence Korongee 

will create an authentic 

suburban village environment 

for those living 

with dementia, with 15 

$77.8 million into the 

local economy over the 

next 20 years.” 

The resort will include 

26 deluxe rooms, 16 premium 

suites, eight villa 

should any issues arise. 

Agreeing to host an individual 

does not mean 

you have to employ 

them, it is an opportunity 

to trial the individual to 

determine if they will be 

suitable for the position 

and have the skills and 

knowledge your business 

requires. 

Contact training@tcci. 

com.au or call 62 36 

3600 for more 

information. 

Wicking Dementia and Research Centre Co-Director 

Professor James Vickers and Glenview 

CEO Lucy O’Flaherty at the Glenorchy site. 

suites, a 250-seat farmer’s 

restaurant, a dedicated 

function centre with 

a capacity of 150 people 

and a smaller function 

space holding 80 people. 

A day spa and public 

green will also be incorporated 

into the property, 

which is situated on land 

owned by the Ransley 

family. 

Project spokeswoman 

Narelle Woodhouse said 

the development would 

be a destination for visitors 

to the North West 

Coast. 

Project to boost vegie yield 

A NEW project that aims 

to increase crop yields is 

being undertaken by the 

Tasmanian Institute of 

Agriculture. 

The $235,000 project 

is being led by TIA 

Industry Development 

Manager Sue Hinton. 

Ms Hinton said the aim 

was to improve production 

practices for Australia’s 

vegetable processing 

industry to help it 

remain competitive on a 

global scale. 

“Simplot has set yield 

targets for key frozen 

vegetable processing 

crops including broccoli, 

cauliflower, carrots, 

green beans and sweet 

corn. 

Achievement of these 

targets will require average 

yield increases 

between 17 and 42 per 

cent over the next three 

demographically tailored 

homes set within a small 

town context complete 

with streets, a supermarket, 

cinema, cafe, beauty 

salon and gardens,” Mr 

Weir said. 

“The Korongee village 

concept draws on a range 

of international best- practice 

models, particularly 

the dementia village of De 

Hogeweyk in the Netherlands 

while contextualising 

this into a uniquely 

An artist’s impression of the proposed Table Cape resort that has just been approved. 

years,” Ms Hinton said. 

“Tasmania’s production 

of these crops for the 

frozen processing market 

had a farm gate value of 

$22.6 million in 2014/15. 

“These products compete 

in a global market, 

which makes it vital that 

our growers are using 

world best practice to 

grow and harvest their 

crops.” 

Ms Hinton said the 

Tasmanian experience. 

“It has been shown 

that residents at the De 

Hogeweyk dementia village 

live longer, eat better 

and take fewer medications 

and we hope to 

see similar transformative 

health benefits at 

Korongee.” 

Construction is set 

to commence in early 

2018, with the site to be 

complete by mid-to-late 

2019. 

The resort has been 

designed by Sydney 

based architecture and 

interior design studio 

Silvester Fuller in collaboration 

with landscape 

architects Aspect 

Studios 

Jad Silvester said the 

project vision was to 

create a local and global 

destination. 

“With this approval 

we can now take the 

next steps towards realising 

this vision,” he 

said. 

He said the design 

combined landscape and 

building, emerging out 

of the landscape. 

“The design concept 

is sympathetic to its surrounds, 

and aims to be 

one of the most environmentally 

sustainable and 

responsive destinations 

in Tasmania,” he said. 

first part of the project 

would involve reviewing 

current production practices 

and identifying new 

innovations that could be 

implemented to increase 

productivity or reduce 

input costs. 

The second phase of 

the project would involve 

field trials of key 

innovations in a participatory 

research and extension 

program. 

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4/04/2017 1:15:46 PM


THOUGHT LEADERSHIP 

www.tcci.com.au 

Time Tamar River tide was turned 

AS sure as the tide comes 

in and out, the health and 

amenity of Launceston’s 

Tamar River estuary will 

be subject of fierce public 

debate. 

Is enough being done? 

Is the money pumped 

into the river being spent 

effectively? 

The river and it’s associated 

silt issue has been 

the subject of pre-election 

political pledges for 

decades. 

One of the problems 

of managing a waterway 

like the Tamar is that it 

exists in various local 

government areas. It also 

has a variety of community 

and quasi government 

organisations with 

an interest in managing a 

part of the foreshore. 

There is no high-level 

planning, management 

or oversight of the river. 

It is hoped that the recently 

announced Tamar 

Estuary Management 

Taskforce, which will be 

chaired by Infrastructure 

Tasmania chief executive 

officer Alan Garcia, will 

finally put structured reform 

into place. 

Mr Garcia will be 

joined by representatives 

from Launceston 

City, Northern Midlands, 

George Town, West Tamar 

and Meander Valley 

Michael 

Bailey 

TCCI Chief Executive 

Councils as well as a 

member from each of the 

Launceston Flood Authority, 

NRM North and 

the Environment Protection 

Authority. 

TEMT has the charter 

of developing the most 

effective solution to the 

problem of raw sewerage 

flowing into the Tamar 

during high rainfall 

events as its first priority. 

The taskforce’s recommendations 

will become 

part of the River Health 

Action Plan, to finally 

improve the estuary. 

It all sounds very 

promising. But history 

suggests it won’t be easy. 

At the moment we 

have a very successful 

raking program under 

way. This program has 

seen millions of tonnes 

of silt removed from the 

Tamar and North Esk 

river intersection. 

During winter, timed 

to coincide with stronger 

winter flows, a modified 

scallop trawler agitates 

the silt, using a rake, 

washing it further downstream. 

For the people of 

Launceston this is a terrific 

achievement as 

this important tourism 

precinct now looks and 

works better. 

But the silt does not 

flow out of the river and 

into Bass Strait. It is deposited 

somewhere else 

in the system. 

Some living in Rosevears 

and Legana are 

already talking about the 

volume of silt that they 

believe is building up 

in the Tamar in front of 

their properties. 

Anyone who regularly 

travels the East Tamar 

Highway will also note 

the volume of silt building 

up in the Tamar near 

the Grammar rowing 

sheds. 

All we are doing is 

moving the issue further 

down the river for someone 

else to worry about. 

TEMT must now start 

to manage the river in a 

strategic way. 

Winter flow down the South Esk to the Tamar River helps wash the silt problem downstream. 

This is not a new idea. 

In 2009 the Legislative 

Council held a review 

into the management of 

the river. Spearheaded 

by local members, Kerry 

Finch (Rosevears), Ivan 

Dean (Windermere) and 

Don Wing (Launceston) 

the Select Committee 

undertook a review of 

the existing management 

system and looked at the 

approach of other states 

with similar waterway 

issues. 

In the Select Committee 

review entitled, Management 

of the Tamar 

Estuary and Esk River, it 

was noted that the “large 

number of organisations 

which had some role in 

the management of the 

Tamar” and the “fragmented 

management 

structure” of the river 

were critical contributors 

in the ongoing issues that 

the Tamar faced. 

The key recommendation 

from the report 

was the need to establish 

a statutory authority to 

manage the Tamar Estuary 

and Esk Rivers. 

This recommendation 

followed the learnings 

from other states including 

how waterways are 

managed in Southern 

Queensland and Victoria. 

The report pointed out 

that “effective models in 

other Australian States 

can be used as a basis for 

reforming management 

structures”. 

In these models of 

waterway management 

there is a consultative 

approach to developing 

strategy and a properly 

funded regulatory and 

enforcement structure. 

I believe that it is time 

to follow the recommendation 

of this report. We 

must have a holistic approach 

to an ongoing issue 

with a waterway that 

is loved and enjoyed by 

many. 

It’s more imperative 

than ever before. With 

the university development, 

plans for Northbank 

and residential developments 

on both sides 

of our river all the way 

to Low Head, we have to 

become more strategic. 

Safe design down to business owners 

By CRAIG 

HORTLE 

THE safe design has 

three areas in which duties 

for workplace health 

and safety may be applied. 

Under the WHS Act 

the PCBU (person conducting 

the business or 

undertaking) has to ensure 

the safety of work- 

ers and other persons. 

1. If you are a business 

that engages in the 

design of structures that 

could be used as a workplace 

you are required to 

ensure that the structure 

is without risks to work 

and safety. 

The businesses that 

may be included in this 

type of work are: 

• architects; 

• building designers; 

• landscape architect; 

• engineering firms; 

• building service design 

engineers. 

The designer needs to 

apply this to residential 

buildings when they may 

become a worksite such 

as during construction, 

maintenances, and demolition. 

2. A PCBU who commissions 

construction 

work has specific duties 

Under workplace health and safety regulations business operators must 

ensure the safety of workers and other persons. 

that include: 

• consulting with designer 

to ensure risks 

associated with the construction 

phase are eliminated 

or minimised; and 

• provide information 

to the designer with information 

that the client 

has to hazard and risks 

where the construction is 

to be carried out. 

3. The principle contractor 

is required to ensure 

that construction 

work is carried out in a 

way that minimises the 

risks and hazards associated 

with the construction. 

In the process of designing 

structures it will 

not always be possible 

to clearly delineate who 

has responsibility, and in 

which circumstances, for 

the elimination or minimisation 

of hazards associated 

with the structure. 

The duties may be concurrent 

and overlapping. 

Section 16 of the WHS 

states: 

“Where more than one 

person has a duty for the 

same matter, each person 

retains responsibility for 

their duty and must discharge 

it to the extent 

to which the person has 

the capacity to influence 

or control the matter or 

would have had that capacity 

but for an agreement 

or arrangement 

claiming to limit or remove 

that capacity.” 

It is evident from this 

information that all those 

engaged in a project need 

to ensure consultation 

occurs between all parties 

that have a duty under 

the WHS Act. 

Where duties may 

be shared it needs to be 

clearly defined who is 

ensuring that the related 

hazard and risks a either 

eliminated or reduced to 

and acceptable level. 

For more information 

contact Craig Hortle or 

Janelle Whitehouse at 

the TCCI on 1300 559 

122 or safety@TCCI. 

com.au



Brett 

Charlton 

Agility Logistics 

MY articles are usually 

positive. 

I do like to expand 

upon the positive nature 

of what is happening in 

the shipping and logistics 

world and by association 

– trade. 

It is always with a specific 

focus on Tasmania 

although with a global 

perspective whenever 

possible. 

That said however, I 

am afraid from time to 

time, reality kicks in and 

the rose coloured glasses 

need to come off for a 

prescription check. 

The world’s largest 

shipping line, A.P. 

Moller-Maersk, was hit 

by a cyber-attack on June 

28, 2017. 

About 90 per cent of 

world trade is transported 

on oceans and Maersk 

carry about 18 per cent of 

the container trade on the 

planet. 

Overnight, electric Armageddon 

hit the shipping 

industry with a total 

blackout of all of Maersk 

operations that involved 

ones and zeros – pretty 

much everything. 

Huge cost threatens global shipping 

Cyber security scare hits 

SOCIAL media has become 

a big part of our 

everyday lives and therefore 

also a big part of our 

work lives too. 

The 2016 Workplace 

Info Social Media Index 

indicated that 43 per cent 

of employers surveyed 

monitor their employee’s 

internet use, 13 per cent 

of organisation block social 

media sites, 16 per 

cent of employers would 

do nothing if their employees 

were slandering 

someone outside the organisation 

via Facebook 

or Twitter exposing them 

to a reputational risk and 

38 per cent of bullying 

primarily involved employees 

making inappropriate, 

derogatory and 

disparaging comments 

about their co-workers. 

However it is not all 

bad news for employers 

with ways that inappropriate 

use can be addressed 

through: 

• performance management 

of excessive 

use of social media by 

employees during work 

hours; 

• performance management 

of inappropriate 

No interface with 

ships, no ability to receive 

emails, no manifests, 

no terminal operations, 

no bookings, no 

rates and no documents 

and not even telephones 

in some countries – nothing. 

At time of writing, 

it is now 20 days since 

the day the attack happened 

and while a lot 

of systems are back up 

and running, we are still 

trying to get documents 

printed, equipment released 

and rates for various 

trade lanes with no 

definitive outcomes. 

The cost to Maersk 

must be enormous – but 

the cost to world traders 

must also be horrendous. 

In addition to the cyber-attack 

on Maersk, 

TNT was also hit. 

This company is one 

of a number of international 

courier carriers 

that send commercial 

documentation around 

the planet – bills of lading, 

health certificates, 

certificates of origin for 

example all sitting in a 

Abbey 

George 

Workplace Relations 

use of social media outside 

of work hours provided 

there is a link to 

work and/or there is a serious 

risk of reputational 

damage to the business; 

and 

• management of other 

issues such as use of 

personal leave where it 

has been found via social 

media that the employee 

was not in fact unfit 

for work (for example 

through posting photos 

of what they were actually 

doing during the leave 

period). 

Generally the Fair 

Work Commission has 

erred on the side that if 

a social media posting is 

initially undertaken outside 

of working hours, 

it does not come down 

once work commences. 

Therefore, provided 

there is a link to work 

then it can be acted upon 

Shipping line Maresk was hit by a cyber attack, affecting customers 

across the globe. 

Picture: Seekoffshore 

tin can in a warehouse 

somewhere not being 

able to be scanned to 

their final destination. 

No Bill of Lading – no 

release of goods. Wharf 

storage, delayed goods 

delivery – not a good 

look. 

Cadbury’s in Tasmania 

was hit as well. No one 

is immune and it would 

appear that the hackers 

are getting better at what 

they are doing. It is an 

interesting, if not somewhat 

daunting, time on 

the planet at the moment. 

That flutter of butterfly 

wings can very much impact 

us down here at the 

bottom of the planet. 

One ship being delayed 

discharge means 

the ship behind is also 

delayed. 

The late payment of a 

trade invoice means less 

money in the chain for 

development. 

I know that insurance 

companies are getting 

more enquires for cyber-attack 

coverage. 

I would suspect that at 

some point, not that far 

away, cyber-security will 

be a “tender” chapter just 

as important and OH&S 

and sustainability. 

I suggest you get this 

on your radar now. 

When online and real life collide 

by the employer. What 

link will depend on each 

specific circumstance but 

can include factors such 

as: 

• Can the employee be 

identified? 

• Could the employer’s 

reputation and business 

be damaged? 

• Were the comments 

or materials made publicly? 

• Were the comments 

seen by (or directed to) 

other employees? 

• Is there a breach of 

the law (discrimination, 

harassment, bullying 

etc.)? 

• Is there a breach of 

policy which has been 

communicated to the employee? 

In a nutshell, there are 

a few lessons for employers 

to bear in mind 

in relation to social media 

and their employees: 

• having a clear social 

media policy is important; 

• ensure consultation, 

revisiting, training/information 

sessions and enforce 

it; 

• educate your employees; 

• there must be a link 

to work; 

• procedural fairness is 

paramount; and 

• individual circumstances 

of each case are 

highly significant. 

The TCCI is here 

to assist you with all 

of you employment related 

matters and you 

can contact the Helpline 

on 1300 765 123 

or the TCCI on 1300 59 

122 or workplacerelations@tcci.com.au 

...there are a few lessons 

for employers to bear in 

mind in relation to social 

media and their 

employees 


Eight steps 

to sell a 

business 

Dean 

Demeyer 

Business Broker 

I AM frequently asked what steps are involved 

in selling a business. It comes up because not 

a lot of business owners have sold a business 

before and they haven’t had to consider it. 

So what’s involved? 

Step 1 

Accumulate business data that summarises 

your business operations. Include types of 

products or services you sell, an up-to-date 

customer list, profit and loss statements, tax returns, 

and BASs for the previous three years, 

and details of employees. 

Step 2 

Create a list of business assets. Don’t use the 

accountant’s depreciation schedule as these use 

accelerated depreciation rates given to them by 

the ATO and show assets at very low values. 

These schedules can also list very old assets. 

Step 3 

Consult a business broker to determine a fair 

price for your business. Over-pricing may lead 

to fewer offers, under-pricing may lose money. 

Step 4 

Advertise the sale of your business using online 

business-for-sale websites. 

Step 5 

Thoroughly clean and tidy up your workspace. 

Trust me, it matters. 

Step 6 

Have professional advisors review all contracts. 

An accountant will give you the best tax 

advice of how to structure the deal. A lawyer 

will ensure all areas of the sale are covered. 

Step 7 

Set a definite closing date to sign all paperwork 

and a settlement and handover date to 

pass over keys to the business. 

Step 8 

Have your business broker coordinate the 

settlement and handover process. They will organise 

to get all involved parties to settlement 

and ensure the transaction goes through. They 

also handle all settlement proceeds to guarantee 

you receive your money quickly.




Top chefs to show Japan our best 

Restaurants and hotels across Japan will 

again show off their creativity using the 

finest Australian produce 

AUSTRADE in Japan 

will again hold a “Taste 

of Australia” menu competition 

to strengthen our 

position as a partner of 

choice in supplying Japan 

with premium food 

and beverage products 

I was in Tokyo in 

May for the launch of 

the competition by the 

Australian Ambassador 

to Japan Richard Court, 

who is also an honorary 

judge of the competition. 

Nineteen chefs and 

two food journalists visited 

Australia in March 

as a precursor to the 

competition. 

The Tasmanian Department 

of State 

Growth sponsored seven 

of the Japanese chefs 

to visit Tasmania in a 

program that showcased 

Tasmania’s capability to 

produce fine, world-class 

food and beverage products 

for the food service 

and hospitality industry. 

The key concept of the 

menu competition is for 

Japanese chefs to cre- 

Sally 

Chandler 

Tradestart Adviser 

atively fuse Australian 

premium products with 

the Japanese culinary 

style and to continue to 

strengthen the Australia-Japan 

relationship 

at all levels through the 

enjoyment of innovative 

menus and delicious 

food and beverages. 

Restaurants and hotels 

across Japan have been 

invited to participate in 

the menu competition. 

The inaugural competition 

in 2016 attracted 

47 team participants. 

From a team of two or 

three members, one team 

member is required to be 

a working chef aged 35 

years or less. 

Each team is required 

to use premium Australian 

produce already 

available in Japan as the 

centrepiece of each dish 

and is required to create 

a three-course Australian 

menu consisting of an 

entree, main and dessert 

while embracing the Japanese 

“WA” style. 

Additionally it is required 

that each dish is 

paired with an Australian 

alcoholic beverage of either 

premium wine, spirit 

or craft beer. 

Each participating 

venue is required to offer 

the special three-course 

Australian menu at their 

premises for a minimum 

of two weeks between 

August 1 and October 

31. 

At the end of October 

Austrade will announce 

the top 10 teams who 

Tokyo Trade Commissioner Julianne Merriman with Sally Chandler at the launch of the Taste of 

Australia menu competition 2017. 

will compete in a live 

cook-off competition on 

November 30 and the final 

award ceremony will 

be held on December 1 at 

the Australian Embassy 

in Tokyo. 

The overall winner 

will be presented with a 

team trophy, certificate 

and a visit to Australia 

for one person in late 

January, 2018. 

There is a similar prize 

for runner-up and category 

prizes for Best Clean 

and Green, Best Aussie 

Beef and Lamb, and, 

Best Food and Beverage 

Matching. 

The celebrity judges 

include Japan’s original 

Iron Chef Hiroyuki 

Sakai. 

The menus presented 

in 2016 were inspirational 

and the dishes extremely 

artistic, colourful 

and full of flavour - I 

expect the same this year. 

For international 

trade and investment 

assistance contact the 

TCCI’s TradeStart Adviser, 

Sally Chandler, 

at sally.chandler@tcci. 

com.au or phone 

1300 559 122



Forums focus on available services 

Getting 

down to 

business 


International 

buzz about 

Tassie idea 

Bee Backpacks destined to fly around 

the world. 

LAST week I had the 

pleasure of attending 

seven small business forums 

across the state as 

part of Small Business 

Week 2017. 

The hugely successful 

forums were organised 

by the Small Business 

Team at Department of 

State Growth in partnership 

with the Tasmanian 

Small Business Council. 

About 400 owners 

and aspiring start-ups attended 

forums at St Helens, 

Burnie, Devonport, 

Launceston, Huonville, 

Sorell, and Hobart. 

The objective was to 

direct small businesses 

to a range of service 

and program information 

available through Business 

Tasmania, Enterprise 

Centres and their 

peak industry bodies 

such as the Tasmanian 

Small Business Council, 

to help them grow and 

succeed. 

The participants now 

know where to go to access 

skills, grants, and 

mentoring programs. 

In conjunction with the 

small business forums, I 

also officially relaunched 

a fresh new Business 

Tasmania website, which 

puts helpful information 

right at business fingertips. 

The website will make 

it easier for Tasmanian 

businesses and aspiring 

start-ups to find information 

from starting a business, 

to employing a first 

apprentice, and managing 

financial paperwork. 

Business Tasmania 

provides businesses with 

a one-stop-shop providing 

access to useful tools 

and programs including 

personalised business advice, 

business mentoring, 

and information on available 

grants and loans. 

With renewed business 

and consumer confidence 

across the state, Tasmanian 

small businesses 

are in great shape to take 

advantage of these programs 

and tools. 

This sentiment is reflected 

in the preliminary 

results from recent 

EMRS research, which 

points to a bright future 

for the Tasmanian small 

business sector. 

Speaking to a sample 

of 800 small businesses 

in Tasmania, initial data 

suggests more than 40 

per cent of Tasmanian 

businesses have plans to 

increase employee numbers 

over the next two 

years. 

It also pointed to a 

large number of new 

businesses starting up 

in Tasmania, with 10 

per cent identifying as a 

start-up. 

Preliminary data 

shows that confidence 

among the 36,000 Tasmanian 

small businesses 

is high, with potential to 

build on 100,000 jobs. 

Gas deal standoff threatens jobs 

LABOR is very concerned 

about the gas 

contract standoff affecting 

Tasmania’s biggest 

energy users. 

Despite negotiations 

starting in 2014, Hydro 

Tasmania is no closer to 

reaching a deal with the 

Tasmanian Gas Pipeline. 

Major gas users like 

Bell Bay Aluminium 

have been warned that 

without a deal, transpor- 

tation prices could increase 

by as much as 95 

per cent. 

One of the well-attended business forums held around the state. 

An increase of this 

magnitude could not be 

absorbed by our major 

industrials without having 

an impact on employment. 

It all means uncertainty 

for the businesses that 

rely on access to gas at a 

competitive rate. 

Labor’s argument is 

the situation should never 

have been allowed to 

drag out for three years. 

We know that in 2014 

and 2015 negotiations 

were severely hampered 

due to the Government’s 

desire to sell the Tamar 

Valley Power Station. 

Without the combined 

cycle gas turbine, Hydro 

would not need the same 

type of long-term contract 

with TGP. 

That meant negotiations 

were not being carried 

out in good faith as 

indicated by the CEO of 

the Tasmanian Gas Pipeline 

Lindsay Ward at a 

Parliamentary Inquiry 

into the energy crisis last 

year. 

Given the Energy 

Minister had a primary 

role in the decision to 

sell the power station, 

we argue that he should 

take greater responsibility 

in resolving the negotiations. 

If the standoff is going 

to end in arbitration, the 

Minister needs to explain 

how that will occur and 

how long it might take. 

The speculation surrounding 

the future of 

gas contracts in Tasmania 

is bad news for our 

biggest businesses. 

Given their enormous 

contribution to Tasmania’s 

economy, we think 

they deserve greater certainty. 

And given the contract 

situation also affects 

smaller businesses and 

consumers, it’s time for 

a deal to be secured. 

If the standoff is going 

to end in arbitration, the 

Minister needs to explain 

how that will occur 

By OWEN TILBURY 

MINUTE sensors labelled “backpacks” for 

bees, developed in Tasmania, are now being 

used world-wide to try and understand 

why the world bee population is in serious 

decline. 

With honey bees in the US alone declining 

25% per year, between US$235 - 

US$577 billion worth of annual global food 

production is under threat, given its reliance 

on pollinators, including 20,000 species 

of bees. 

Enter Professor Paulo da Souza, science 

leader at CSIRO Hobart and winner of the 

2015 Innovative Science and Technology 

Award in the annual Innovative Tasmania 

Awards. 

His team developed radio-frequency 

identification (RFID) tags that measure how 

and when bees deviate from their intensely 

predictable behaviour. 

The new generation of sensors is now 

powered by the vibration of the bees wings. 

The project is conducted in partnership 

with Vale mining company, Intel, Hitachi 

and UTAS. 

Prof. da Souza says Tasmania is an 

amazingly innovative island, where solutions 

to local and international problems 

can be created fast and effectively. 

He said the Innovative Tasmania Awards 

celebrate Tasmania’s inspiring innovativeness. 

Crowd-voting for the 2017 Awards is open 

until September 10 at www.bofa.com.au.

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West Coast wind power 


Creative learning 

through innovation 

By MATTHEW 

GROOM, 

Minister for 

Energy 

THE Hodgman Liberal 

Government continues 

to unveil its vision to establish 

Tasmania as the 

renewable energy battery 

of the nation. 

Another significant 

step forward has been 

taken with Hydro Tasmania 

reaching in-principle 

agreement with Westcoast 

Wind Pty Ltd on a 

power purchase agreement 

for the $280 million 

Granville Harbour Wind 

Farm on the West Coast. 

This massive development, 

which has all of 

the required development 

approvals, will be 33 

turbines providing 112 

megaWatts of capacity 

and is expected to create 

200 jobs during construction 

and about 10 on-going 

jobs and generate 

enough power for more 

than 40,000 homes. 

It follows the announcement 

in June this 

year that a similar agreement 

had been reached 

for a $300 million, 

49-turbine wind farm at 

PROJECTe managing director Justin Couper, left, Granville Farm owner 

Royce Smith, Energy Minister Matthew Groom and West Coast Wind 

director Alex Simpson. 

Cattle Hill in the Central 

Highlands. 

The power generating 

capacity of both 

wind farms will contribute 

more than 840,000 

megaWatt hours of power 

annually. 

This is important additional 

generation that 

can reinforce Tasmania’s 

energy security and also 

help deliver more clean 

energy into the national 

market. 

West Coast Wind director 

Alex Simpson said 

this was an important 

project not only for the 

West Coast, but North 

West Tasmania and the 

state. 

“The project will create 

about 112 megaWatts 

of clean, renewable energy 

that will be put into 

the Tasmanian electricity 

grid. 

“It will take about 18 

months from now until 

completion of construction.” 

Granville Farm Owner 

Royce Smith, is excited 

by the project. 

“It’s been about a 14- 

year process since we 

were first approached 

about a wind farm on 

the property” Mr Smith 

said. 

“It’s such a beautiful 

place for a wind farm 

and we’re thankful for 

the support of the Gov- 

ernment to get us to this 

stage. 

Justin Couper, Managing 

Director of PRO- 

JECTe, a company that 

specialises in the delivery 

of renewable energy 

projects, in particular 

wind farms, says the 

project will have a big 

impact on West Coast 

communities. 

“It’s actually more 

than just 200 jobs. Our 

experience in building 

similar projects in Tasmania 

is that you’ll see 

1,200 people touched by 

the project.” 

The Government is 

seizing every opportunity 

to maximise our 

contribution to Australia’s 

renewable energy 

demands while also securing 

renewable energy 

development jobs, including 

in regional Tasmania. 

This significant milestone 

for the Granville 

Harbour wind farm development 

is another example 

of the Hodgman 

Government backing our 

competitive strengths in 

renewable energy and 

our commitment to attracting 

new investment 

and creating jobs. 

By GARY 

McDARBY 

ADVANCES in neuroscience 

are challenging 

the very foundations of 

the traditional education 

system, providing new 

insights into how people 

learn. 

Our ability to monitor 

and understand brain 

function has grown considerably 

over the last 

few decades as advances 

in real-time imaging 

technology have revealed 

new insights into 

how the brain works. 

Our minds are fundamentally 

embodied and 

relational. Our brains, 

bodies and relationships 

are integrated and 

change in response to our 

experiences. 

This has profound implications 

for the way we 

learn, especially in the 

early years. 

The current education 

system is still based 

heavily on the Victorian 

model, in which everyone 

was taught to read 

and write the same way 

and was measured on the 

same skills. 

This translates to the 

workplace, where in the 

past people could use 

those same skills in long 

careers with one company. 

But rapid changes in 

technology now require 

flexible, adaptable skills. 

People now have to 

re-define themselves every 

couple of years. 

The greatest skill is the 

skill to learn and to love 

learning. We need to create 

a framework for outcomes, 

not a framework 

for measurement. 

There is a great opportunity 

in Tasmania, because 

of its size and the 

reach of the University of 

Tasmania, to take a different 

path with learning 

that moves away from 

structures and produces 

“confident, innovative 

people”. 

Chief Executive of Enterprize 

Tasmania, Dr Gary McDarby 

is a technology consultant 

with a background in 

electronic engineering and 

neuroscience. 

His latest project, Enterprize, 

is a pair of innovation hubs 

in Hobart and Launceston 

designed to support 

entrepreneurial endeavour, 

specifically focused around 

technology. 

• From a keynote presentation 

to Education Transforms 

2017 in Hobart


APPOINTMENTS and ANNOUNCEMENTS 

Bay views from 

new lodge pods 

An architect’s render of the proposed development at Freycient 

Lodge at Coles Bay. 

Picture: Liminal Architecture and FloodSlicer. 

WORK has started on redevelopment 

at the RACT’S award-winning 

Freycinet Lodge. 

The development will provide six 

new rooms and nine new accommodation 

pods on the existing Coles 

Bay site. 

RACT CEO Harvey Lennon said 

the pods would create a new dimension 

and a new offering. 

“The design is something fairly 

unique in Australia and perhaps the 

world” Mr Lennon said. 

IN BRIEF 

“The pods will be spacious and 

will captivate the beautiful turquoise 

waters and granite in the Freycinet 

National Park.” 

RACT was one of the first companies 

to take advantage of development 

opportunities under the State 

Government’s wilderness tourism 

EOI process. 

The company revised its original 

development plans after community 

opposition to further expansion into 

the National Park. 

APPOINTMENTS 

Massina 

on point 

INTERIM Macquarie Point Development 

Corporation CEO Mary 

Massina has been appointed as the 

Corporation’s new permanent CEO. 

Ms Massina’s been tasked 

with delivering the ambitious plan 

for Macquarie Point, which includes 

the $2 billion Mona cultural component. 

Ms Massina was previously the 

Executive Director of the Property 

Council in Tasmania and most recently 

chaired the Planning Reform 

Taskforce, which helped develop 

Australia’s first 

single statewide 

planning 

scheme. 

“The Government 

looks 

forward to 

working with 

Ms Massina 

and the Macquarie 

Point 

Development 

Corporation 

Board to deliver 

an outstanding 

redevelopment 

at the Macquarie 

Mary 

Massina 

Point site that will provide significant 

outcomes for the Tasmanian 

community,” Premier Will Hodgman 

said. 

Apprentice 

advovcate 

CAMERON Lawrence has been appointed 

as the TCCI’s new Apprenticeship 

Adviser. 

Mr Lawrence will oversee a 

project to provide a direct support 

service targeted at small business 

owners, encouraging them to employ 

apprentices and trainees. 

The TCCI has identified the 

key areas in which small business 

requires additional support in order 

to engage with the VET system, 

particularly in relation to employing 

apprentices and trainees. 

This project offers a “one stop 

shop” service to employers, allowing 

employers to select the support 

services 

they require 

in order to 

identify opportunities 

to 

employ apprentices 

and 

trainees. 

Each 

employer 

and their 

apprentice or 

trainee will 

be provided 

with up to 

12 months of 

mentoring to Cameron 

support retention Lawrence 

and completion 

of qualifications. 

Mr Lawrence has worked in 

the apprenticeship and traineeship 

industry for 12 years starting with 

the Australian Technical College in 

2005 as the Industry liaison officer. 

He has also held roles with TAFE, 

Work and Training and Megt doing 

similar industry engagement work. 

Huon commission 

extended 

THE Government has extended 

Adriana Taylor’s appointment 

as Commissioner for the Huon Valley 

Council for a further 12 months. 

Ms Taylor was initially appointed 

last October to restore stability and 

good governance to the municipality 

following a Board of Inquiry 

and the subsequent dismissal of 

the Huon Valley councillors. 

The government said Commissioner 

Taylor has worked 

diligently and professionally and 

has received strong, positive feedback 

from the community. 

Top loan 

administrator 

AUSSIE Launceston loan administrator 

Alison Campbell has been 

named as the top loan administrator 

in Victoria 

and Tasmania 

by the Mortgage 

Finance 

Association 

of Australia 

(MFAA). 

Alison, 

who works at 

Aussie Home 

Loans’ Launceston 

office, 

is now in the 

running for the 

national title, to 

be announced in 

Melbourne. 

Alison 

Campbell 

The MFAA Excellence Award 

is awarded to loan administrators 

who have achieved ongoing 

excellence and effectively supported 

the broker or business in 

which they operate. 

Apart from her administration 

duties, Alison has also managed 

Aussie Launceston‘s sponsorship 

activities, including the Sundown 

Cinema, Junction Art Festival, 

BOFA Festival and local soccer 

club, Riverside Olympic. 

Landcare seeks 

Board skills 

LANDCARE Tasmania is seeking 

Expressions of Interest to be part of 

its new Board. 

Executive Officer Rod Knight 

said the move to a skills-based 

board was part of a reform of the 

organisation’s governance to meet 

increasing expectations and regulation 

in the not-for-profit sector. 

Landcare Tasmania has experienced 

strong growth over the last 

year, with 40 new Landcare groups 

forming in the last 12 months. This 

growth has taken total groups in 

the state to 200, with a combined 

membership and volunteer base of 

3300 people carrying out 90,000 

hours of voluntary community work 

every year. 

“The new board will be pivotal 

in being able to consolidate and 

continue that growth, to address 

the opportunities and challenges it 

brings, and to introduce new and 

innovative approaches to supporting 

community Landcare in the state”, 

Mr Knight said. 

The areas of skills and experience 

Landcare Tasmania is seeking 

include: 

• financial planning, management 

and accounting; 

• governance, risk management 

and strategic planning; and 

• fundraising, marketing and promotions. 

For further information see: www. 

landcaretas.org.au/board_eoiCampbell 

Small businesses 

marketing grants 

THE City of Hobart has launched 

two new marketing grants for businesses 

opening in August. 

The Shopfront Improvement 

Grant provides matched funding of 

up to $5000 for store owners and 

tenants to creatively improve their 

shopfront. 

The grant encourages improved 

streetscapes as well as attracting 

more customers. 

The Local Trader Marketing 

Grant of $5000 is an opportunity for 

groups of five or more businesses to 

attract customers to their local area. 

For eligibility and to apply, visit 

hobartcity.com.au/marketingrants. 

Grants open August 12, 2017 and 

close 5pm September 11, 2017. 

Rapid Response 

Reduced Risk 

Our Business 

Is People 

Right Experience


EVENTS NEWS 

EVENT: 

Australian Institute of Management: 

diversity & inclusion in 

the contemporary workplace 

LOCATION: 

Waterfront Pavillion, Hobart 

DATE: 

Thursday 29, July 2017 

ABOVE: Joy Wilson and Helen Kent from Lowrie Kent 

Conveyancing, Angela Sonners from Travel Counsellors and 

Julia Lane from the Australian Institute of Management. 

ABOVE: Kate Garvey of the Department 

of Health and Human Services, left, with 

daughter Greta and Mikailah Lehmann of 

Join the Dots 

LEFT: 

Dianne Underwood 

of Wrest Point, left, 

Diane Carroll from 

Eastside Lutheran 

College, Robin 

Banks of Michael 

Small Consulting, 

Tim Baker from 

the Department of 

Primary Industries 

Parks Water and 

Environment and 

Susan Ditter from 

Working it Out 

ABOVE: Damien Arkley of Metro Tasmania and Annette 

Rockliff from the Devonport City Council. 

RIGHT: 

Adrian Pursell of IML 

Regional Advisory 

Committee, left, and Di 

Carter and Janine 

Arnold from Carers 

Tasmania. 

LEFT: 

Chantel Crossman of 

Creative Partnerships 

and Louisa Vanderkruk 

from Peoplepie. 

BUSINESS 

2 

BUSINESS 

YOUR QUICK GUIDE TO SERVICES AND PRODUCTS FOR YOUR BUSINESS 

SPECIALISTS IN OFFICE 

FURNITURE SINCE 2001 

At Flair Office Furniture, we’ve specialised in 

keeping Tasmania’s Businesses well stocked in 

office furniture since 2001. 

FOR SALE OR FOR HIRE - THROUGHOUT TASMANIA 

Phone 6234 1127 

260 Argyle Street, 

North Hobart 

www.flairofficefurniture.com.au 

To see your business here, call Kerri on 0419 750 267 or email kerri@thetrustedmediaco.com 

Printing Technology 

and Tradition. 

Here’s just some of the things we do regularly... 

• Books • Magazines • Newsletters • Catalogues • Annual Reports 

• Business Cards • Letterheads • Posters • Flyers • Corporate Branding 

• Logo Design • Packaging • Wine Labels • Stickers • Swing Tags 

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more than just fine printers. 

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99-109 charles street launceston tasmania 7250


PROPERTY MATTERS 

Valuation focus on interest 

Scott Newton 

Property Matters with 

Knight Frank 

This month’s article is a valuer’s perspective of the 

Tasmanian property market from Matthew Page, 

Knight Frank Tasmania’s Director – Valuations. 

RECENT sales across the retail, 

commercial and hospitality property 

sectors indicate firm competition for 

assets leading to yield compression 

and increases in property values. 

This yield compression has been, 

to varying degrees, more pronounced 

for prime assets although 

secondary markets have recently 

shown recent strong yield compression 

as well. 

Commercial property markets are 

now trading on returns below their 

long-term averages. 

While it is difficult for assets in 

a buoyant market to continue trading 

below lower term averages, the 

trend does indicate general asset 

property pricing and cyclical risk 

exposure. 

Compression of commercial 

property returns and the subsequent 

increases in property values has correlated 

to the accepted trend of interest 

rate movement. 

Compression of commercial property returns in Hobart and the 

subsequent increases in property values has correlated to 

the accepted trend of interest rate movement. 

Many vendors have been more 

than willing to dispose of assets in 

the current economic environment, 

noting the upturn in the market associated 

with a low cost debt environment 

for buyers. There have 

been higher than average numbers 

of investment property sales and at 

yields well below 6.0%, even as low 

as 3.5% in the last twelve months. 

While returns are the benchmark 

for commercial property values, valuation 

of property takes account of 

income perpetuity. The market will 

generally be confident in a strong 

business location to sustain ongoing 

income certainty. The issue in the 

current market with strong demand 

is the weight of money pursuing a 

better return than other asset categories 

such as cash and equities. Investors 

appear more focused on the 

current income. 

Investment property will and 

should exhibit a higher return to account 

for times when issues such as 

income uncertainty or building capital 

expenditure fall due. 

This is the major, and more costly, 

characteristic of investment property 

and it is at the investors peril if 

capital expenditure is not addressed. 

Tenants will not accept such situations 

and it normally forms part of 

the lease covenant anyway. These 

are but a few examples of why property 

is risk rated higher than other 

asset categories. 

So now and into the short term, 

valuation of commercial property 

will focus not just on the property 

investment market dynamics such 

as the number and type of investors, 

the state of the tenancy market and 

physical attributes of the property 

itself. 

There will be further focus on factors 

influencing interest rate movements. 

For a longer than average time 

frame now, investors have been able 

to access funds from a historically 

low cost debt market. Lenders have 

been factoring their own risk into 

debt pricing and the costs of prudential 

requirements set down by the 

Australian Prudential Regulation 

Authority (APRA) raising capital 

adequacy requirements on banks to 

higher levels. 

All this is outside the Reserve 

Bank settings that might be set for 

change if the US Federal Reserve 

start increasing rates by the number 

of occasions speculated over the 

next twelve months. 

Further interest rate rises cannot 

be discounted and APRA prudential 

requirements on lenders have been 

one reason the RBA have kept interest 

rates at the historic low levels 

aside from the main objective as a 

consumer price lever. 

The Australian Government Budget 

2017 announcement of a 0.06% 

levy on banks with liabilities above 

$100 billion may influence the cost 

of lending. 

The cost of funds seems set for a 

few changes which will continue to 

influence commercial property market 

returns and values. 

PROPERTY VIEW 

AUGUST 2017 

For sale by Expression of Interest 

BARK MILL TAVERN & BAKERY 

96 Tasman Highway, Swansea 

• Located in the historic and picturesque 

township of Swansea 

• A business that benefits from a customer 

base of local residents and tourists, and the 

‘Great Eastern Road’ touring route 

• A very diverse business offering the Tavern, 

Bottleshop, Bakery, and Museum 

• Consistently growing large turnover 

• Modern building preserving the character 

and history of the site 

• Great return on investment! 

Rob Dixon 0408 134 025 

John Blacklow 0418 128 735 

View at KnightFrank.com.au/3732971 

For sale – $800,000+ 

A HEALTHY INVESTMENT – 9% RETURN 

174 Brighton Road, Brighton 

• A great opportunity to add a freehold 

investment to your portfolio 

• Situated in the heart of Brighton, one of 

Tasmania’s fastest growing suburbs 

• Leased to ASX listed Sonic Healthcare, 

trading as Hobart Pathology 

• Large flexible floor plan previously used as 

medical practice provides upside 

• Plenty off-street car parking and positioned in 

the heart of Brighton’s shopping district 

Outline indicative only 

SOLD 

For sale by Expression of Interest 

SUPERB DEVELOPMENT OPPORTUNITY 

6 Paige Court, Warrane 

• Unique infill development site of 4,236sqm 

(approx) in a core Eastern Shore location 

• Zoned ‘General Residential’ with possibility 

of up to 13 units/villas (STCA); lot size 

325sqm minimum 

• Excellent accessibility off Paige Court and 

nearby Cambridge Road 

• Well located site within walking distance to 

schools, public transport, sports grounds, 

and major shopping centres 

• Well priced compared to recent 

development sales 

Matthew Wright 0458 29 588 

Scott Newton 0409 186 261 


Sold 

‘ARTHOUSE SALAMANCA’ 

104 Salamanca Place, Battery Point 

• This historic c1880 conjoined townhouse, 

constructed of brick and convict hewn 

sandstone represents the very best of 

Victorian Georgian style. 

• A successful renovation showcases 

thoughtful, contemporary design that is 

seamless and sophisticated 

• Substantial, spacious interiors, full of natural 

light; exceptionally well-appointed; extends 

over two levels including a mezzanine space 

• 3 bed; 2 bath; 1 garage 

Outline indicative only 

Matthew Wright 0458 290 588 


Lynne Page 0429 948 963 

View at KnightFrank.com.au/HBT170248 

5 Victoria Street, Hobart 41 York Street, Launceston Shop 6a, 48-54 Oldaker Street, Devonport 

P: 03 6220 6999 P: 03 6333 7888 P: 03 6333 7888

Tasmanian Business Reporter August 2017

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