Tasmanian Business Reporter November 2018

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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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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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.
BUSINESS
YOUR QUICK GUIDE TO SERVICES AND PRODUCTS FOR YOUR BUSINESS
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The Macquarie Point
project is planned as
a “people place”..
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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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movers and
shakers
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• Appointments
• Awards
• Celebrating
success
Share the news
with the
Tasmanian
business
community
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snippets, with a
high quality photo,
to TBReditorial@
fontpr.com.au

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.
BIG ON LEARNING,
BIGGER ON EXPERIENCE
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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WP - Advert Mar17.indd 3
4/04/2017 1:15:49 PM

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