Tasmanian Business Reporter November 2018

tbreditorial

Welcome to the November edition of the Tasmanian Business Reporter.

In this month's edition you'll read about the new vision for Macquarie Point, which TCCI CEO Michael Bailey believes is a once-in-a-generation opportunity for Tasmania if planned correctly and underpinned by residential development.

You will also find details about a new Hobart fashion festival and strong profits from Tasmania’s two financial institutions, as well as some poignant HR tips for employers about how to handle the upcoming 'silly season' from TCCI Workplace Relations Consultant Abbey George.

NOVEMBER 2018

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 12,000 M O N T H LY

Opportunity

knocks at

Mac Point

An artist’s rendering of the Macquarie Point

project illustrates a connection with the

proposed Northern Suburbs Light Rail Project.

People key to port vision

By TOM O’MEARA

MACQUARIE Point offers a

once-in-a-generation opportunity

for Hobart, with the

residential component key to

ensuring the mixed-use development

has vibrancy and life

day and night.

That’s the firm view of Tasmanian

Chamber of Commerce

and Industry Chief Executive

Michael Bailey, who said he

believed the $2 billion plan had

the capacity to change the capital

for the better.

Mr Bailey said the new vision

for the much maligned 9ha site

- to be developed over 30 years

– and in three stages – was a

step in the right direction.

It would transform the waterfront

area in a similar fashion

to the way Launceston’s City

Deal and Devonport’s Living

Cities project would energise

those cities, he said.

“The Macquarie Point project

links local, State and Federal

Governments to plan something

that has the potential to

change Hobart forever,” Mr

Bailey said.

“One example is the Antarctic

and Science precinct, which

could potentially house both

IMAS and the CSIRO.

“Think of the creative, productive

science hub that would build.

“Hobart is regarded as a global

gateway city to Antarctica, so

this has the potential to create a

world-leading precinct as well as

complimenting Tasports’ $60 million

masterplan for the city’s port.

“The science precinct could then

also free up the land on which the

CSIRO now sits.

“Imagine that properly developed,

which is already a conversation

under way with stakeholders

like the Tourism Industry Council

of Tasmania and Destination

Southern Tasmania.”

While he says it won’t be a quick

fix, Mr Bailey said any development

needed to be underpinned

by a range of residential developments.

“The site must be active after

5.30pm … which is why a residential

component is so important, if

not critical, to the whole project,”

Mr Bailey said.

“Accommodation was always

part of the long-term masterplan,

but it has now been brought forward.

“There is an argument that we

could see another major luxury

hotel at the site but every similar

development in the world includes

housing.

“I would like to see a range

of residential opportunities, but

importantly, housing for Tasmanians

who are working in the City

of Hobart, as well as a raft of diverse

options.

“The more housing we can create,

the more stock that becomes

available in Greater Hobart, to

address the growing need for

housing of all types – affordable

and otherwise.

Mr Bailey said it was imperative

to have the plan signed off

ready for construction to begin to

ensure no slowdown in construction

across the city.

“At present in Hobart, we see

cranes in the sky – completing,

for example, the Royal Hobart

Hospital redevelopment and the

Parliament Square project, where

work is continuing on the Marriott

Luxury Collection Hotel and

plaza adjacent to the Salamanca

Building.

“But as the current major projects

are completed, we will need

more projects for our construction

industry.”

Continued page 2

Tasmania

Report 2018

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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 12,000 M O N T H LY

2 Tasmanian Business Reporter - NOVEMBER 2018

NEWS

New super

life cover

partnership

TASMANIAN industry

super fund Tasplan has

announced a new partnership

with leading

life insurance provider

MetLife to deliver innovative

and affordable

insurance offerings.

Tasplan Chief Operations

Officer Nick Connor

said the partnership

with MetLife would

give members a strong

offering to help them

navigate the changing

landscape of insurance

inside super.

“Tasplan is committed

to delivering excellent

customer service

and returns for our

members and MetLife

demonstrated its ability

to form a unique partnership

that aligns with

our values and addresses

the specific needs of

the fund,” Mr Connor

said.

“We know the proposed

federal budget

changes to insurance inside

super adds another

level of complexity and

uncertainty and we identified

the need to partner

with an organisation

that can respond to these

changes and evolve with

us and our members.

“We understand the value

of insurance in superannuation

and the

importance of default

insurance which offers

our members value

for money protection.

“The member experience

is critically important

to Tasplan and

the ability to offer digital

solutions that make

the process of both applying

and claiming fast

and easy, was also high

on our priority list.”

MetLife will be working

with Tasplan over

the transition period to

identify the best way

forward, taking into

consideration the expected

budget changes,

in order to deliver the

best possible product

design for its members.

The new insurance

product will be ready to

go live on July 1, 2019.

Challenge of an ageing workforce

TASMANIA’S work

health, safety and

wellbeing professionals

addressed the future

challenges presented by

changing work patterns

and operating environments

at the 2018

WorkSafe Conference

last month.

From an ageing workforce

to the ever-extending

reach of new technologies,

staying ahead

of these challenges was

deemed vital for the

health and wellbeing of

all Tasmanian workers.

University of Melbourne

Professor of

Management Peter

Gahan presented at the

conference about ageism

– the phenomena of

age-based prejudice and

discrimination, focussing

on how organisations

can minimise age-based

stereotyping to ensure an

inclusive work environment.

Prof. Gahan said as the

population aged across

the world, ageism was

becoming a growing

problem, especially in

the workplace.

“Ageism is the idea

that people are being

University of Melbourne Professor of Management Peter Gahan

presenting at the 2018 WorkSafe Conference at the Grand Chancellor in

Hobart.

assessed not so much for

attributes, their skills, or

their talents, but simply

because of their age,”

Prof. Gahan said.

“That can happen for

older people, but also

younger people.

“Generally older

people are viewed as

being warm and good at

relationships, relatively

stable and reliable, but

incompetent – not being

good at picking up new

skills, understanding

new technologies, being

able to adapt or be

flexible.

“The evidence undertaken

over the last 25

years or so shows that

most of those stereotypes

are not true.”

The 2018 WorkSafe

Conference was part

of WorkSafe Tasmania

Month, aligning with

the theme of “Future

Work, Future Challenges”

which aimed to

raise awareness of the

new health and safety

issues arising as workplaces

adapt to shifting

external and internal

conditions.

Since 1996, when

WorkSafe Month was

first launched, the number

of Tasmanians who

suffered work-related

injuries or illnesses has

more than halved, from

16,167 to 6,941 in 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

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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 12,000 M O N T H LY

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Opportunity knocks at Mac Point

From page 1

The new Masterplan

includes many elements

of the 2016 MONA Vision,

as well as provision

for the Northern

Suburbs Light Rail project.

Mr Bailey said it was

vitally important that we

properly celebrate our

Aboriginal history within

the development.

“What I am also

pleased to see is the retention

of large areas of

open space for everyone

to enjoy,” he said.

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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 12,000 M O N T H LY

Year of growth for MyState, Bank of us

Tasmanian Business Reporter - NOVEMBER 2018 3

NEWS

Home grown banks’ profits up

TASMANIA’S two financial

institutions have

reported a successful

year on the books, with

MyState and Bank of us

releasing their figures for

the past financial year.

Bank of us recorded an

underlying profit before

tax of $3.84m up 22 per

cent, it says was due to

increased revenue from

strong loan book growth.

Chairman Stephen

Brown said an after-tax

profit of $1.6m for the

year was lower than the

previous year due to the

one-off costs associated

with transitioning from

B&E to Bank of us and

the benefit from a substantial

one-off profit on

the sale of commercial

property assets last year.

Mr Brown said Bank of

us’s loan portfolio grew

12 per cent to $703m

while loan approvals shot

up by 27 per cent to a record

$215m.

Meanwhile, MyState

Limited reported a net

profit after tax of $31.5

million for the year up

4.6 per cent on the year

before.

MyState chairman

Miles Hampton and managing

director Melos

My State managing

director Melos Sulicich

Sulicich said the strong

result was supported by

benefits from its investment

in digitisation which

Model Kate Loader shows off an item from emerging designer Sarah Boyadjian.

Bank of us chairman

Stephen Brown

have improved services

for customers, as well as

by productivity gains and

cost management.

Speaking at the company’s

2018 annual general

meeting, Mr Hampton and

Mr Sulicich again called

for the Federal Government

and regulators to

take positive action to level

the playing field.

Mr Hampton said regulation

tightening bank

lending had favoured the

growth of the shadow

banking sector, with a

recent estimate suggesting

it already had 7 per

cent market share and

that figure was thought

to be growing at four to

five times the rate of bank

lending.

Local fashionistas hit catwalk

MOVE over New York and London,

Hobart will welcome a new festival in

November full of fashion, design, insights

and inspiration from emerging, current and

expat Tasmanian designers.

The Hobart region has seen a growth of

creative industries and events over recent

years, and now is the time for the local fashion

industry to put its foot forward into the

spotlight - with Hobart Fashion Week to run

from November 20th to 25th.

Event Director, Nikola Colls said the

event would become a standout “not only

for its showcase of design, but for our ability

to connect various communities into the

world of fashion and art, with an emphasis

on place and ideas”.

HFW will exhibit Tasmania’s creative talent

in fashion and design, providing inclusive

and engaging workshops, exhibitions

and local business events, complementing

the featured runways to share insight into

the world behind what you wear.

The event supporters, City Mission Op

Shops, City of Hobart and Orenda Studios,

have helped develop a program of events,

which fosters creative innovation, inclusive

community engagement, and sustainable

opportunities.

Mr Sulicich welcomed

the Productivity Commission’s

finding that

the larger banks gained

an unfair funding advantage

from their “too big

to fail” status, combined

with capital benefit from

advanced accreditation.

“While regulations require

all banks to hold

capital against loans,

smaller banks hold 56

per cent more capital

than larger banks even

though the risk of issuing

mortgages is the

same.

Consumers are demanding

the competition

Picture: Samantha Christian

that smaller banks provide,

but we are hobbled

by capital constraints

which let larger banks

lend much more with the

same capital.

“We urge the government

to increase the average

mortgage risk weights

which govern larger

banks’ reserves to reduce

their lending advantage,”

he said.

“Although our result

shows we are well placed

to adapt to competitive

challenges, we believe we

are unfairly constrained

by regulations that benefit

larger banks.”

Visitors

keen to

pedal

AN Australian-first program

that helps local

businesses benefit from

the popularity of cycle

tourism is about to gain

more traction.

The Tourism Industry

Council Tasmania released

the nation’s first

Bike Friendly Business

Accreditation Program

last year, to inform cycling

tourists where to

shop, stay and visit, and

help promote the state as

being cycling friendly.

The program is free

for tourism-accredited

businesses and TICT

will provide training and

resources to assist with

gaining accreditation.

About 38,000 visitors

jump on a bike during

their visit to Tasmania.

The Government contributed

$85,000 to the

development of the program

as part of its $6

million Cycle Tourism

Strategy.

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shakers

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• Awards

• Celebrating

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Share the news

with the

Tasmanian

business

community

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snippets, with a

high quality photo,

to TBReditorial@

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4 Tasmanian Business Reporter - NOVEMBER 2018

THOUGHT LEADERSHIP

North West Coast

underpins economy

Paul

Arnold

TCCI Vice Chairman

THE Tasmanian Economy

has enjoyed a sustained

period of positivity.

The North-West economy

has suffered its fair

share of knocks over the

past decade but continues

to show its amazing resilience.

International commodity

pricing has taken its

toll on mining and agricultural

returns over the

past decade, but as we

head for 2019, we are

again on the cusp of very

bright economic times.

Our significant competitive

advantages include:

• quality of the minerals

in our ground;

• quality of our food

production systems, particularly

our rich soils;

• our depth of industry

sectors, from aquaculture,

forestry, tourism,

cropping, beef and dairy;

• the innovation of our

advanced manufacturing

sector; and

• the strength of our

communities and their

resultant workforce –

and the list goes on.

The North West does

some heavy lifting for

our State Domestic Product,

as most of our contribution

comes from primary

industry.

It has often been said

that if we cut off the

North West 64 telephone

district, the rest of Tasmania’s

living standards

would drop sharply.

Most of our sectors

abound with confidence

and the future is very

bright indeed.

Each area that we

think about, from mining

start-ups or re-starts,

manufacturing, dairying,

beef, cropping, aquaculture,

tourism, and wind

farms, all share one thing

in common – the need for

a more available and engaged

workforce.

Every sector will be

crying out for hundreds

of new employees in

just a few short years,

and our biggest threat

is that we are ill prepared

for what is coming.

Our population will

prove inadequate for the

jobs that are available,

our people will be insufficiently

trained for the

plethora of jobs coming,

and our towns will not

have sufficient housing

for what is on the horizon.

One might say these

are good problems to

have, but the corollary

of that is that opportunities

will be lost forever.

What is needed shortterm

is a serious plan to

address all of the training

and skills deficits,

lack of people and engaged

political leadership.

The TCCI has been

focussing on a range of

high-level strategic issues

impacting Tasmania.

The annual Tasmania

Report is a signature

document that provides a

clear focus on what is improving,

what is lacking

and options to improve

our collective future.

The next edition is imminent.

The TCCI Board is

currently focussed on

five key priorities for

the Tasmanian Economy,

for the short-term,

medium-term and longer-term.

Once determined,

these will become key

pillars of advocacy in

coming months.

We welcome your input.

Paul Arnold is TCCI

North West Director.

www.tcci.com.au

Associate degrees

offer career growth

LeeWhiteley

University College

Chief Executive

WHEN developing

the range of University

College associate

degrees, one of our

objectives was to provide

opportunities for

people already in the

workforce to up-skill

and gain a formal qualification.

We have been able

to achieve this by providing

students with

practical and relevant

study experiences,

with the ability to undertake

subject assessment

in the workplace.

In doing so, students

have been able

to apply their learning

directly to the workplace

while they study,

allowing them to put

what they have studied

into practice right

away.

This has enormous

benefit both for the

student and the employer.

As such, we have

found that many businesses

from different

sectors have come to

us looking for opportunities

to support

their staff into study.

One such example

of this is our student,

James Johnston, who

is studying our Supply

Chain Management

specialisation

and currently working

full time as a Storeman

at the Kingborough

Council.

James has been supported

by his workplace

throughout his

studies, as his manager

is able to appreciate

the long-term benefit

for the Council.

The flexible delivery

of the course has

also made it possible

for James to continue

working full time

while completing his

studies.

Another way that

we have been able to

ensure our associate

degrees are relevant to

those in the workforce

is through regular engagement

with industry.

We do this by developing

our courses

with industry experts

and actively involving

them in the course delivery.

This is done in a

range of ways including

workshops, industry

placements and real-world

case studies.

With applications

open for 2019, now

is the time to get in

touch with our team

to talk about study

options for you or

your staff. Visit utas.

edu.au/college, call

us on 1300 363 864 or

email us on Course.

Info@utas.edu.au.

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Tasmanian Business Reporter - NOVEMBER 2018 5

THOUGHT LEADERSHIP

www.tcci.com.au

‘Accidental’ life in economics

FORMER top public servant

Donald Challen AM

FAICD traces the beginning

of his distinguished

career in academia, the

public service and in corporate

governance back

to what he calls “a bit of

an accident, really”.

When his initial postschool

plans fell through,

a friend nudged him towards

economics at the

University of Tasmania.

“My father was a great

believer in careful due

diligence and he helped

me find out a bit more

about economics. It reinforced

my thinking that

it sounded worth having

a crack at. So, I enrolled

in economics at the university

and – within a

couple of months – it felt

like someone had turned

the lights on.”

Challen believes that

what he learned has had a

far-reaching influence on

his thinking throughout

his career.

“They say that economics

changes your life

– rewires your brain. I

think that’s right. Economists

do tend to think

a bit differently from the

rest of society. I was introduced

to a series of

concepts that really resonated

with me – it’s been

a part of my life ever

since.”

After graduating from

the university with firstclass

Honours and a

Master of Economics,

Challen was 15 years an

academic economist.

In 1980, he was instrumental

in obtaining government

funding for the

Centre for Regional Economic

Analysis (CREA)

where he was Founding

Director. He also served

as Chair of CREA’s

board for a decade from

1993.

After a two-year stint

at the Office of the Economic

Planning Advisory

Council in Canberra,

Challen returned to Tasmania

in 1986 as Deputy

Under-Treasurer at the

Tasmanian Treasury.

He was Managing Director

of the Tasmanian

Development Authority

for two years and then

appointed Secretary of

the Department of Treasury

and Finance in 1993.

He served as Secretary

for 17 years, working

with six Premiers and six

Tasmanian Governor Kate Warner with Donald Challen.

Treasurers of Liberal and

Labor governments.

While he was in the

public sector, particularly

throughout his stint

as head of the Treasury,

he was asked to serve on

several boards, both private

and government.

Challen says, “That really

whet my appetite for

a career as a non-executive

director…and what

I’ve been able to do has

been very rewarding. Initially,

there were opportunities

that were thrust

on me, but it opened my

eyes to the fascinating

spectrum of activities

that you can get involved

in through a non-executive

director role.”

He is currently Chair

of the Motor Accidents

Insurance Board and

is Deputy Chair of the

board of the Tasmanian

Symphony Orchestra.

In 2013 he was made a

Member of the Order of

Australia.

Looking to the future

of Australian corporate

governance, Challen

notes that driving an appropriate

and positive organisational

culture will

be a particular challenge.

“Cultures are exceedingly

difficult to change,”

he says. “We tend to forget

that human beings

respond to the incentives

presented to them. If you

see behavior that you

don’t like in groups of

people or in companies,

the best way to cure it is

to change the incentives

for people. Regulation is

a very blunt instrument.”

Organisational culture

has been brought into the

spotlight by the Royal

Commission into Misconduct

in the Banking,

Superannuation and Financial

Services Industry.

In his Interim Report,

Commissioner Kenneth

Hayne AC QC posed

that further regulation

would add “an extra

layer of complexity” to

an already complex regulatory

regime. Challen

agrees. “Individuals respond

to incentives and

the cultures of companies

are the amalgam

of the behaviours of the

individuals working in

them. Thus, in a fairly

direct way, a company’s

culture is the result of

the incentives provided

to its employees.”

While Challen’s career

path has veered to

take him through such a

variety of professional

experiences, his changing

roles allowed him

the opportunity to contribute

throughout the

development of one of

Tasmania’s largest infrastructure

projects:

the Basslink electricity

connection.

He was involved in

the project’s conception

as chair of the public

service steering committee,

and then sat on

the Basslink Development

Board, which

found the private developer,

National Grid

PLC, to design, construct

and operate the

project.

Later, as a member of

the board of Hydro Tasmania,

he had a hand in

the negotiation of the

contractual arrangements

between Hydro Tasmania

and National Grid, which

were essential for the

project to proceed.

As Hydro Tasmania’s

Battery of the Nation initiative

investigates future

expansion of Tasmania’s

clean energy capacity,

this piece of infrastructure

could further embed

Tasmania’s place in supporting

energy supply to

mainland Australia.

Infrastructure

surcharge angst

INFRASTRUCTURE

surcharges got the attention

of everyone in

Tasmania recently with

the announcement of DP

World pretty much doubling

their fees at West

Swanson terminal from

January 2019.

There is a lot of angst

about this charge as there

is no control or regulation

as to what can be

charged – it is set and issued

and the fear is that

once one charges it (or

even increases it) they

all will.

It is a reasonable fear

as this is has increased a

number of times over the

year and on the back of

the Melbourne port levy,

peak season charges

for inward freight, toll

charges, bio security

surcharge additions and

booking slot increases

you could be forgiven

for thinking that there is

a lot of clipping of the

ticket going on.

Bringing it back to

Tasmania, however, in

relation to the infrastructure

surcharges, it is important

to understand

how our freight is currently

moving.

Presently the majority

of our exported and

imported international

cargo goes one of two

Brett

Charlton

Agility Logistics

ways – direct ex Bell Bay

on the MSC vessel or via

Melbourne with the trans

bass carriers (Tolls or

Searoad).

In relation to MSC,

the cargoes either do not

touch Melbourne port or

if they do, they are done

within the port infrastructure

– therefore there is

no port infrastructure surcharge

applied.

In regards to the via

Bass Strait cargoes, the

infrastructure surcharge is

billed to the line by their

nominated cartage company

and I am advised

that presently this is being

absorbed into the terrific

revenue that the lines are

making on the terminal

handling charges (a story

for another day).

I will be keeping a close

eye on this as it evolves,

but Tasmanian exporters

and importers need to review

all options in their

considerations – including

where the cargo is received

in Australian ports

and the costs associated.

The Brown Marmorated

Stink Bug (BMSB)

risk season is something

that importers would

have heard of if they are

importing from those

countries at risk.

Importers are bearing

costs for fumigation or

heat treatment as well as

facing delays in inspections,

cost burdens of

demurrage and detention

and other costs as a result

of the strict enforcement

of the protocols for importation

from countries

affected by this creature.

The issue is difficult

because of our lack of

infrastructure and the

costs involved for treatment

and the volume

of cargo relevant to the

BMSB risk – but please

take some time to look

up what is happening

in Europe and America

with this bug – it is an

infestation of mammoth

proportions and something

we need to avoid

coming to Australia at all

costs.

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6 Tasmanian Business Reporter - NOVEMBER 2018

THOUGHT LEADERSHIP

Prevention best cure

for state’s health woes

Paul

Lupo

CEO, StLukesHealth

TASMANIANS generally

consider themselves

to be in good health but

when you look at the statistics,

it tells a different

story.

ABS data shows that

compared with the rest

of Australia, Tasmania

has higher rates of chronic

disease like arthritis,

asthma, heart disease and

mental issues.

It is a sobering reality

check and leaves little

wonder why our health

system is under so much

stress and why the need

for private health insurance

is so strong.

At St.LukesHealth we

believe it’s necessary

to balance the immediate

requirements for

treating disease with a

longer-term sustainable

solution of preventing

it, and its pleasing to see

great work is being undertaken

by another notfor-profit

organisation in

Tasmania, the Royal Flying

Doctor Service.

While the RFDS is

known for its aeromedical

service in transferring

patients from remote

places to hospital, its

footprint on the ground in

Tasmanian communities

is quite large.

The RFDS runs a Primary

Healthcare program

in Tasmania aimed at improving

both the mental

and physical health

outcomes of those living

with chronic health conditions.

The service is

delivered in remote and

rural communities with

a holistic approach to a

person’s well-being.

In a recent conversation

with John Kirwan,

CEO of the Tasmanian

RFDS, he mentioned

that there was a significant

correlation between

physical health and mental

health.

“An example would

be a middle-age woman

with depression who is

taking medication, but

this medication causes

her to put on weight,

causing her to lose more

self-confidence. Often

our mental and physical

health workers will work

with the client at the

same time to achieve the

best possible result,” Mr

Kirwan said.

“We are focusing on

hospital avoidance.”

The service also runs

a dental program that

visits schools and community

health centres

allowing those who cannot

visit regional centres

with the opportunity to

receive treatment.

The demand has been

significant, with the

RFDS’ two dental teams

delivering more than

1500 treatments to 1200

patients on the North

West Coast in the past 18

months.

“A lot of it is access,

they will have a visiting

service but for a lot of

people it is about money.

Getting to a dental clinic

is hard if both parents

are working or if there

are transport issues,” Mr

Kirwan said.

Dental disease is one

of the largest preventable

hospitalisations in

Tasmania with the biggest

cohort being young

women and children.

It is one reason why

St.LukesHealth places

so much emphasis on its

RFDS dental assistant Taneesha Torlach.

Gap Free Preventative

Dental offer to its members.

Mr Kirwan said dental

disease should not

result in hospitalisations

because it is almost 100

per cent preventable and

if people were in hospital

as a result, then they

were taking up valuable

room for other patients

with non-preventable

conditions.

“Our focus in the (dental)

program is on prevention

and promotion

and educating kids about

looking after their teeth.

If we can do that it stops

some of the longer-term

problems,” Mr Kirwan

said.

While primary care is

not often seen as an exciting

area of medicine,

the focus needs to shift

from treating disease to

preventing it.

Our focus must move

towards prevention if

we are to achieve better

health outcomes for Tasmanians.

www.tcci.com.au

Warning on

water deal

Scott

Bacon

Shadow Treasurer

WHILE Labor reluctantly supported the water and

sewerage changes in Parliament, it did so while

sounding the warning that the key issues facing the

sector remain, despite the ownership changes.

At the last election, Labor proposed a way forward

for three vital infrastructure projects – Macquarie

Point, Launceston’s combined system and

Cameron Bay (to allow for MONA stage 2) – by

seeking investment from industry superannuation

funds to break the water and sewerage deadlock in

the state.

With the election in the rear-view mirror and

the Government’s changes passing Parliament, we

would hope that by the next election due in 2022

these projects will be well advanced, if not completed.

We’re concerned that the deal provides not a single

cent of new money for water and sewerage infrastructure,

despite funnelling $200 million of taxpayers’

money into the business.

The information memorandum provided to owner

councils by TasWater shows the business restricted

by more debt, lower revenue and higher interest

costs. Specifically, the deal:

• does not provide a real cost decrease for TasWater

customers;

• provides no extra funding for water and sewerage

infrastructure;

• violates TasWater’s long-term financial plan,

moving its interest cover ratio out of recommended

parameters;

• creates a governance nightmare with a complicated

ownership structure and deadlock arrangements;

• provides no dividend certainty for councils; and

• erodes the independent role of the Economic

Regulator.

The deal delivers $200 million of taxpayers’ money

into TasWater, but costs the company $236 million

in lost revenue over the life of the deal.

The water and sewerage industry is telling me that

it desperately needs funding for new infrastructure.

Countless independent reports reaffirm this.

For all of the criticisms of TasWater over the past

few years, it has already succeeded in having all

boiled water alerts removed across the state.

The challenge for TasWater will be to continue to

operate with immunity from any political considerations

from its new owners, the Tasmanian Government.

Water and sewerage investment must be

made on the basis of sound business cases and in the

strategic interests of the Tasmanian economy.

In-house invitation for safety system input

A REQUIREMENT of

the Workplace Health

Act is to provide a safe

system of work.

To ensure that the Person

Conducting a Business

or Undertaking

(PCBU) is able to fill

these requirements of the

Act, it is imperative that

a Workplace Health and

Safety Management System

(WHSMS) is developed

for the workplace.

You can have a system

developed by an external

consultant or develop it

yourself.

A system developed in

house seems to work successfully

as all the stake

holders can have input

ensuring commitment to

the system.

A WHSMS consists of

Craig

Hortle

Workplace Health & Safety

the following:

• Policy – a simple

statement that indicates

your commitment to the

activity;

• Procedure – this

states how you are going

to implement the policies

that you have decided on;

You can have a system

developed by an external

consultant or develop it

yourself.

• Recording method –

this how you record the

information from your

procedures.

The policies that

should be included in all

WHSMS can be:

• An overarching WHS

policy;

• An induction policy;

• A safe system of

work policy;

• An incident management

policy;

• An emergency situation

policy.

Depending on the type

of work your business

undertakes and your

workplace, there will be

a number of other policies

that you will have

to implement to ensure

compliance under the

legislation.

The areas out of the

Act a WHSMS will help

you comply in are as follows:

3) Without limiting

subsections (1) and (2),

a person conducting a

business or undertaking

must ensure, so far as is

reasonably practicable –

(a) the provision and

maintenance of a work

environment without

risks to health and safety;

and

(b) the provision and

maintenance of safe

plant and structures; and

(c) the provision and

maintenance of safe systems

of work; and

(d) the safe use, handling

and storage of

plant, structures and substances;

and

(e) the provision of

adequate facilities for

the welfare at work of

workers in carrying out

work for the business or

undertaking, including

ensuring access to those

facilities; and

(f) the provision of any

information, training,

instruction or supervision

that is necessary to

protect all persons from

risks to their health and

safety arising from work

carried out as part of the

conduct of the business

or undertaking; and

(g) that the health of

workers and the conditions

at the workplace

are monitored for the

purpose of preventing illness

or injury of workers

arising from the conduct

of the business or undertaking.


Tasmanian Business Reporter - NOVEMBER 2018 7

THOUGHT LEADERSHIP

www.tcci.com.au

Strong interest in state energy projects

Guy

Barnett

Minister for Energy

THERE is a strong

business interest in Tasmanian

energy projects,

with our state’s business

leaders recently gathering

to discuss renewable

energy projects at a

range of forums hosted

by the Tasmanians

Chamber of Commerce

and Industry.

The forums were

focused on Battery of

the Nation and Project

Marinus, and how such

projects can benefit Tasmanian

businesses and

industries.

Also being discussed

were ways that businesses

can prepare themselves

to benefit from

renewable energy sources

and get involved with

projects and contracts on

the table.

These forums high-

light the interest in Tasmania’s

energy future.

We have what the rest

of the country want –

low cost, reliable, clean

energy.

The Government is

working hard to improve

the lives of Tasmanians.

We have an ambitious

target of achieving the

lowest regulated power

prices in the country by

2022, and becoming fully

self-sufficient in the

same timeframe.

Our plans for further

interconnection across

Bass Strait, new pumped

hydro schemes, significant

upgrades to existing

Hydro facilities and

wind are also transformative

opportunities for

Tasmania that represent

thousands of potential

jobs.

Foreign owners

good business

Sally

Chandler

Tradestart Adviser

THE Department of Foreign

Affairs and Trade

has just published its report

on the economic activity

of foreign owned

businesses in Australia

during 2014-2015 and I

quote directly from that

report.

One of the limitations

with this report is that the

reference year is already

three years old. This is

due to the time it takes

for the Australian Bureau

of Statistics (ABS) to get

access to the detailed

ATO Business Income

Tax (BIT) database.

The 2015-16 ATO BIT

dataset will be delivered

to the ABS in early 2019.

The classification used

to denote ‘foreign ownership’

is those businesses

with foreign ownership

greater than 50 per

cent equity.

The research showed:-

• In 2014-15, there

were 9,946 majority foreign-owned

operating

businesses in Australia.

• There were also

1,208 Australian-owned

companies with minority

foreign ownership.

• Foreign-owned businesses

in Australia had

assets valued at $1.9

trillion in 2014-15, employed

966,200 persons

and paid wages and salaries

valued at $67 billion.

They made operating

profits of $50 billion

and contributed 11 per

cent of total business tax

revenue.

• Foreign-owned businesses

on average also

paid higher wages and

salaries than Australian-owned

businesses

and produced more output

per employee.

• These businesses

contributed $222 billion

in industry value added

to the Australian business

economy (excluding the

Financial and Insurance

Services industry which

could not be measured),

representing one fifth of

total Australian business

output.

• These businesses recorded

sales of goods

and services of $770

billion including an estimated

$95 billion ex-

TCCI CEO Michael Bailey, left, Hazell Bros Managing Director Geoffrey Hazell, Minister Guy Barnett, UPC Renewables CEO

Anton Rohner, TasNetworks CEO Lance Balcolme and Hydro Tasmania CEO Stephen Davy.

ported.

• Foreign direct investment

in Australia (both

majority and minority

ownership) supported

the employment of nearly

1.2 million persons (or

1 in 10 jobs in Australia).

The top five economies

owning businesses

in Australia were the

USA at number one then

Japan, the UK, Switzerland

and China in that order.

Next were Germany,

Netherlands, France,

Canada and Hong Kong

at number 10.

The industry with the

highest number of total

foreign owned assets

was overwhelmingly the

services industry, which

includes Finance and Insurance,

at 72 percent of

the total.

Next was Mining at

16.9 percent, Manufacturing

at 10.7 percent and

Agriculture at a small 0.5

percent.

Foreign-owned businesses

employed 6,000

Foreign direct

investment in

Australia supported

the employment of

nearly 1.2 million

persons

persons in the Agriculture,

forestry and fishing

industry, 40,500 persons

in the Mining industry,

141,300 persons in the

Manufacturing industry

and 778,400 persons in

the Services industries.

This new study highlights

the growing importance

of foreign-owned

businesses to the Australian

economy.

It shows that foreign-owned

businesses

are an important means

for foreign companies to

provide goods and services

to the Australian

market. They made operating

profits of $49.5

billion and contributed

11.3 per cent of total

business tax revenue.

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.

Rules for ‘silly season’

IT IS getting to that

time of the year again.

Some might refer to it

as the dreaded festive

silly season.

As an employer

there are a few things

to be mindful of when

the end of the year is

rolling around including

but not limited to:

End of year shut

downs

The National Employment

Standards

found in the Fair

Work Act 2009 does

not provide for an

annual close down

but there may be provisions

in the relevant

Modern Award or

Enterprise Agreement.

Be mindful of

any obligations they

impose on you, such

as providing notice of

the close down and

the like.

Interaction with

other leave

If staff are taking

annual leave in the

period you need to be

mindful of any other

forms of leave that

may also come into

play such as personal

leave, public holidays,

parental leave,

community service

leave and/or compassionate

leave.

Refusal to work on a

public holiday

Abbey

George

Workplace Relations

The Fair Work Act

2009 (s114) states

that an employer may

request an employee

to work on a public

holiday if the request

is reasonable. Likewise,

an employee

can refuse to work on

a public holiday if the

employer’s request is

not reasonable. If you

find yourself in this

situation please contact

us for advice.

End of year parties

and work functions

While it may be a

headache to organise,

an end-of-year party

or function can often

be seen as a way that

employers can thank

their staff for another

year of hard work and

also allow staff to interact

in a social setting.

Some employers

have taken the approach

of using other

forms of recognition

such as vouchers or

hampers, others elect

the “family friendly”

approach of barbecues

and lunches

during the day. What

works best depends

on you, the business

and your staff.

Before the event:

• send a friendly

staff email outlining

what is/isn’t acceptable

and refer to relevant

policies;

• if you are going to

serve alcohol ensure

it is served responsibly

(you may want

to hold the function

at another venue in

which case the venue’s

RSA kicks in);

• ensure plenty of

food and drinks are

available to everyone;

• check that your

insurance covers the

event.

The event:

• have a clear start

and finish time;

• place time limits

on the supply of alcohol;

• make it clear to

staff that post-event

activities are on their

own time;

• use taxis, shuttles,

public transport

and/or non-drinking

drivers to make sure

everyone gets home

safely after the party.

For more information contact the Helpline on 1300 765 123 or the

TCCI on 1300 59 122 or workplacerelations@tcci.com.au


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06460-39_18


Tasmanian Business Reporter - NOVEMBER 2018 9

NEWS

Ambassadors for social change

BY KEIRRAN

DOWNHAM

WHY did you go into

business?

Every business owner

has taken risks, worked

long hours and developed

opportunities to create

a better life - whether

for share-holders, themselves,

or their family.

Operating on an island

that has limited population

growth means we

have to be more innovative,

flexible, determined

and passionate to make

our businesses financially

viable and create longevity.

Still, many Tasmanian

companies have gone on

to become national institutions.

David Walsh’s

MONA is a case in point.

While we can claim

success in business leadership,

our community

values are at astonishing

lows.

Tasmania has the highest

rate of domestic violence

nationally.

One in three women, by

the age of 50, will be impacted

by violence - physical,

sexual or other.

Police attend more

than 5500 incidences per

annum.

Women’s shelters

and support services

are inundated and overwhelmed

by this growing

trend.

Thankfully the Tasmanian

Government, and

every state and territory

counterpart, has implemented

cultural values

for their organisations to

ensure the protection and

Andrew Hart, left, Dave Gibbons, Michael Wilson, Paul Fallon and Keirran Downham.

support of their staff and

families. These values

have been implemented

through White Ribbon

Workplace Accreditation.

It’s now been rolled

out to over 600,000 employees

nationally.

The program challenges

organisational values,

ensuring gender equity

and fairness sits at the

core of all business practices.

Gender inequity is at

the heart of all violence

against women.

How will this help?

It’s no different to how,

over a generation, we

have changed our views

on and practices for the

environment.

I remember when most

houses had a backyard

incinerator and we would

burn our rubbish, occasionally

throwing a tyre

on the backyard bonfire.

In the late 80s/early

90s the government realised

this was having a

hugely detrimental effect

on the environment.

It wasn’t sustainable

so they changed their

own internal values.

They started recycling,

and implemented responsible

use of energy.

Changing government

practices brought about

positive change protecting

the environment.

Private industry

was

required to

adhere to the

same values in

order to win

government

business. Two

decades later

we all follow

suit.

Tasmania’s

now the clean,

green envy of

Australia.

We have developed

some

of the strongest

environmental

rules and regulations

nationally.

Our public

smoking laws

are some of the toughest

in the world.

It’s so refreshing to see

the Tasmanian government

inwardly reflecting

on community standards

to bring about positive

change for our children

and grandchildren.

I believe their current

process and stewardship

on violence will

bring about much needed

change. History tells us

this works. Imagine if

they mandate that all private

businesses share the

same values. I’m sure the

private enterprise community

would see the

value in this.

In 2017 I took my companies

through the White

Ribbon Workplace Accreditation

program. It is

one of the best business decisions

I have ever made.

We have a responsibility

to provide leadership

within our communities.

We have freedom to implement

change faster and

more efficiently than government

agencies, so why

are we waiting?

November 23 is White

Ribbon Day.

What better time to

start? Join me.

www.youtube.com/

watch?time_continue=272&v=6J6dOlrgq-Q

* Keirran Downham is

Managing Director Fuji

Xerox Business Centre

Tasmania, The Print

Division and Acrodata.

Keirran is a White

Ribbon Ambassador

and sits on the board of

The Hobart Women’s

Shelter.

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STUDY AN ASSOCIATE DEGREE TO

ADVANCE YOUR CAREER.

With a passion for life-long learning and professional development,

Ulverstone’s Stacey Connelly is on her way to success through the

University College.

“I believe the associate degree can give me the theoretical understanding

and practical tools to be successful in my chosen career and to become a

valuable asset to my workplace.

“I am already finding University College very rewarding. I am putting the

skills I’ve learnt into practice in my workplace, so I can already see the

benefits from my study.”

The new two-year associate degrees offered by University College are ideal

for students who are already working in industry, as they can be studied

full-time or part-time.

To find out more about studying an associate degree or supporting

your staff to undertake study, visit utas.edu.au/college or

phone 1300 363 864.

CRICOS Provider Code (University of Tasmania): 00586B.


10 Tasmanian Business Reporter - NOVEMBER 2018

NEWS APPOINTMENTS and ANNOUNCEMENTS

Organic path bears fruit

A TASMANIAN apple

orchard has been announced

the inaugural

recipient of the $30 million

Woolworths Organic

Growth Fund.

The grant from Woolworths

will form part of

a $10m investment by

Huon Valley business

R&R Smith, to increase

production of organic apples

in Australia and put

a focus on the development

of an organic apple

variety not well known in

Australia.

Owner Andrew Smith

said his Grove farm had

been supplying certified

organic apples to Woolworths

since 2006.

“Our relationship with

Woolworths has been

crucial in our growth to

date, and critical in the

future of our business,”

Mr Smith said.

“Ultimately, we are

working together to

make organic fruit more

available for Australian

customers and we are

pleased to be the first recipient

of the new Organic

Growth Fund.”

The orchard will grow

TELSTRA is urging Tasmanians

to support successful

women in business

across all industries,

by nominating them in

the 2019 Telstra Business

Women’s Awards.

Nominations are now

open for the awards,

which shine a light on

women who have challenged

the status quo,

done things their own

way and achieved success

in business.

Telstra Business Women’s

Awards Ambassador

and Chief Operations Officer,

Robyn Denholm,

said that the program,

a new apple which is

called Kizuri in some

markets around the

world.

“We are working with

Woolworths to develop

a variety name that will

resonate with our organic

customers in Australia,”

Mr Smith said.

“At R&R Smith we

are focussed on growing

now in its 24th year,

continued to recognise

outstanding women who

were transforming business.

“The Telstra Business

Women’s Awards exist

because the achievements

of Tasmanian

women in leadership deserve

to be celebrated.

“We shine a light on

those who, by undoing

traditional approaches to

business, are setting examples

to inspire others,”

Ms Denholm said.

“Anyone can nominate

a business woman, and

if you are one yourself,

fruit that has a minimum

human interference and

yet still gives that great

eating experience for

our customers. We have

searched the world to

find new apple varieties

that achieve this via organic

farming.”

The Woolworths fund

will allocate grants and

interest-free loans over

we encourage you to enter

the program, stand in

the spotlight and be recognised

for your achievements.”

Participation in the

Telstra Business Women’s

Awards starts with

a nomination. Nominees

then submit a completed

online entry form. Nominations

are open until

November 8.

To nominate yourself

or an inspiring

business woman you

know, visit: telstrabusinesswomensawards.

com/nominate

the next five years to

Australian organic fruit

and vegetable growers

looking to expand their

operations and those

keen to become part of

the burgeoning organic

industry.

Farmers will also have

contracted purchase volumes,

providing them

with the certainty of

Woolworths Supermarkets

Head

of Produce Paul

Turner, left, Heritage

Bank CEO

Peter Lock, Woolworths

Supermarkets

MD Claire

Peters, Prime

Minister Scott

Morrison, Senator

Eric Abetz and

orchardist

Andrew Smith at

the fund launch.

longer-term supply of

organic fruit and vegetables

to Woolworths.

Woolworths Supermarkets

Managing Director,

Claire Peters said

demand had been growing

at a rate of 20 per cent

year on year over the past

five years in the organic

produce category.

“We can help farmers

adopt innovative approaches

that will enable

the range of organic fruit

and vegetables on offer

to grow, making it more

readily available and affordable

for customers,”

she said.

Women in awards spotlight

2017 Telstra Tasmanian Business Woman of

the Year, CSIRO Director of National Collections

and Marine Infrastructure Toni Moate.

IN BRIEF

Westbury market goes super

THE first sod has been turned on a $5 million retail development

at Westbury. The 1600sqm building is expected

to be completed by July 2019.

The new supermarket will be owned and operated

by local Judy Fellows, who has helped Westbury locals

fill their pantries for about 30 years at the William Street

IGA.

Ms Fellows said the new development had been in the

pipeline for some time as the existing facility was not big

enough to meet demand anymore.

The nine-month construction phase will employ 20 to

30 local tradespeople.

New Energy Board head

DR Mary O’Kane has been appointed Chair of the Aurora

Energy Board.

Energy Minister Guy Barnett said Dr O’Kane had a

wealth of experience having served on boards and committees

in the public and private sector, particularly relating

to energy, engineering, ICT and research.

Mr Barnett also acknowledged the efforts of outgoing

Chair, Caryle Demarte, who has been in the role since

May 2016.

Activities acknowledged

ROKEBY’S Eastside Activity Centre has been awarded

the national Inside Sport Clubbies Award for Best Facility

across Australia.

EAC owner Felicity Harvey said it was a huge

achievement for the family-run centre.

“We are so proud to have been given this national

recognition for our centre after establishing it six years

ago,” she said.

Breakfast a bloke’s mission

HOBART City Mission and Men’s Resources Tasmania

will host an International Men’s Day fundraising breakfast

on Monday, November 19.

The Blokes BBQ Breakfast aims to encourage conversation

between men in the Southern Tasmanian community,

while raising funds for Hobart City Mission’s DIY

Dads Program and Men’s Resources Tasmania.

The event at the Goods Shed, Mac Point, will feature a

live acoustic set from Tassie band, Luca Brasi and will be

attended by Tassie-born Ironman Champion, Matt Bevilacqua.

www.blokesbbqbreakfast.com.au

New Optus territory chief

FORMER RSPCA chief executive Peter West has been

appointed Territory General Manager (Tasmania) for

Optus,

“To lead Optus in such a key market is an exciting opportunity,”

Mr West said.“My immediate priority will be

to understand from our customers what our greatest challenges

and opportunities are.”

Mr West is also a former Deputy Director at the Tasmanian

Museum and Art Gallery, a previous winner of

the Australian Marketing Institute’s Tasmanian Marketer

of the year Award.

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Tasmanian Business Reporter - NOVEMBER 2018 11

EVENTS NEWS

Helen Douglas, left, Chantel Crossman and Caroline Gray – all of Wicking

Dementia Centre.

Heather Francis of RHH Research Foundation,

left, with Melissa Lukianenko and Paul Lupo of

St.LukesHealth.

What: Re:Fresh Hobart (presented

by St.LukesHealth and

RHH Research Foundation)

Where: Hadley’s Orient Hotel,

Hobart

When: Wednesday, October 17

Jemina Stuart-Smith of UTAS and Tasmanian

Road Runners, left, Alistair Lynch of Healthy Business

Performance Group and Natasha Wiggins of

UTAS and Tasmanian Road Runners.

Grayson Genders, left, and James Symmons of

St.LukesHealth.

LEFT: Fiona

Svamvur and

Debbie Street

of Hobart Day

Surgery, with

John Elkerton

of Health Care

Software.

RIGHT: Allan

Dickins of

Healthy Business

Performance

Group

with Helen

Cowley of

St.LukesHealth

LEFT: Ben

Canny of UTAS

School of Medicine,

Alison

Venn of Menzies

Insitute

for Medical

Research and

James Vickers

of Wicking Dementia

Centre.

RIGHT: Coral

Warr and Lisa

Foa of UTAS

School of

Medicine, with

Alison Canty

of Wicking Dementia

Centre.


12 Tasmanian Business Reporter - NOVEMBER 2018

PROPERTY MATTERS

Human drivers in real estate

Scott Newton

Property Matters with

Knight Frank

Knight Frank Department Manager for

Residential Sales, Matthew Chugg, gives

an update on the Tasmanian residential

market and the "human factor”.

THE financial gains Tasmania

is experiencing in the residential

real estate market has

resulted in a statewide median

house price increase of

7.2%, with median prices in

Hobart rising by a substantial

15%. Why is this so?

In recent years, Tasmania

has been “discovered”

by mainlanders, and flowing

from this, a rediscovery and

renewed appreciation by local

residents for their home

state.

With its many attractive

features including climate,

lifestyle options, improved

job prospects and festivals

all year round, not to mention

the natural beauty, we are

now proud to call Tasmania

home.

Consequently, this has

shifted the “supply” drivers,

as housing stock levels have

reduced by about 16 per cent

from this time last year.

With regards to the “demand”

drivers, there are a

few factors contributing to

the increase.

Firstly, many ex-pats are

returning home and often

with their children, as Tasmania

is seen as a great place to

raise a family.

Due to the much-improved

economic climate, it is now a

viable option for those seeking

a change in lifestyle and

to take advantage of the great

schooling options on offer.

Secondly, the affordability

of real estate in Tasmania

makes for an attractive investment

opportunity, further

driving up demand.

Home sweet home ... more and more people are proud to call Tasmania home.

It is well known that prices

in the Sydney and Melbourne

markets are still out of reach

for many home owners and

investors.

In Hobart, rental returns

are very strong with the median

now $425 per week for a

three-bedroom house.

With vacancy rates at an

all-time low of 1.9 per cent

statewide, this has seen the

return of astute investors

Improved accessibility to

and from Tasmania is another

factor impacting demand for

Tasmanian property.

There are now direct flights

to all major Australian capital

cities most days of the week.

Many people now commute

from Tasmania to Sydney or

Melbourne for work, returning

to the island for the weekend.

In addition, a changing

work environment and ever-improving

technology

has allowed people to work

remotely from almost anywhere,

especially from home,

reducing the need or frequency

of commuting.

Looking further afield, Tasmanian

real estate has also

caught the eye of international

purchasers.

The level of interest from

overseas from both purchasers

wanting to live in Tasmania,

and those looking to

invest in property, is unprecedented.

About 22 per cent of all

buyers now come from interstate

or overseas.

The shortage of stock on

the market and the increased

interest from local, interstate

and international purchasers

and investors has created the

perfect “supply and demand”

storm for a very healthy and

sustainable property market.

PROPERTY VIEW

NOVEMBER 2018

For lease

BESPOKE, BOLD AESTHETIC

199 Macquarie Street, Hobart

Creative, comfortable, “A” grade office conversion

featuring: bespoke steel and glass, creative

lighting, state of the art climate control, electronic

sit-stand desks, playful breakout areas and

expansive natural light.

• 3 Suites available: 320 sqm, 271 sqm & 70 sqm

• The building owner’s design team can work

with you, to tailor an office that shows off your

company and style while encouraging health

and productivity

• End of trip facilities, bike storage area and onsite

car parking

g

For sale by expression of interest

BEACH HOUSE RETAIL INVESTMENT

Lot 16, 646 Sandy Bay Road, Sandy Bay

• The ground floor café bar is part of a strata

title for the Beach House Apartments,

constructed in 2001, and contains an area

of approximately 303 sqm (Lot 16).

• Lease renewed in January 2018 for five years

• Current annual rent is $109,200 plus GST

Business premises in excellent condition with

internal and external seating for 105 people,

and has a great outlook over the park & beach.

• The business has longevity and the investment

has been held by the original owners for the

last 18 years.

Outline indicative only

Richard Steedman 0408 559 046

Hayden Peck 0412 766 395

View at KnightFrank.com.au/4332686

For sale by expressions of interest

“WEEROONA” NORTH HOBART

326 Elizabeth Street, North Hobart

Set in a superb location a stones throw from the

North Hobart culture and restaurant strip.

• Built circa 1910 this beautifully presented free

standing propery offers an excellent investment

option with ample room for development (STCA)

• Land size: 885sqm Build size: 300sqm (approx)

• Currently leased as individual consulting rooms/

offices and 60 sqm yoga studio, 8 tenancies

with 6 month short term rolling leases

• Current approximate income of $59,000 net pa

• Former DA application approval for studio and

apartment at rear of property

Matthew Wright 0458 290 588

Hayden Peck 0412 766 395

View at KnightFrank.com.au

John Blacklow 0418 128 735

Scott Newton 0409 186 261

View at KnightFrank.com.au/4459555

For Sale for $15,000,000

LANDMARK OFFICE BUILDING

144 Macquarie Street, Hobart

• 12 floor, A grade office building

• Energy efficient with NABERS rating of 4 stars

• 5,684 sqm lettable area with 19 car spaces

• Approx. net income of $1.43 million pa

• Fantastic views and natural light

• Substantial capital upgrades completed to

lighting, lifts and mechanical plant

• Opportunity to add significant value through

leasing or future asset conversion

• High quality State Government lease covenant

• In conjunction with Edwards Windsor RE;

Tim Johnstone 0418 395 157

Richard Steedman 0408 559 046

Scott Newton 0409 186 261

View at KnightFrank.com.au 03 6234 5500

5 Victoria Street, Hobart 54 Cameron Street, Launceston Shop 8, 48-54 Oldaker Street, Devonport

P: 03 6220 6999 P: 03 6333 7888 P: 03 6424 3568

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