Central Coast Business Review February 2020 by Central Coast Business Review

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O E SS N T H

Peter Hocking

Syscon Pty Ltd Breakthrough energy firm moves to Coast

Consolidated LEP deferred again Adam Crouch appointed Parliamentary Secretary for the Central Coast

Page 8 Edgar Adams’ Editorial CCBR welcomes Star Scientific

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Cover story 4

Peter Hocking – Syscon Pty Ltd

Business news 7 Breakthrough energy firm moves to Coast 8 Adcock Park Redevelopment underway 9 Adam Crouch appointed Parliamentary Secretary for the Central Coast 9 Community feedback sought on airport review 10 Marlin Campers wins national award for best camper under $25k 10 Clubs a role Model for corporate citizenship 11 Consolidated LEP deferred again 11 Brand Group’s plans for 2020 12 Central Coast Leagues Club appoints CEO 12 Chapman & Frazer expands 12 Cathy Baker takes on Belle Property franchise for whole Coast 13 AdviceCo. Announces new business principals 14 Bouddi Foundation for the Arts seeking major sponsor

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15 Star Scientific leases at Berkeley Vale 16 Commercial and Industrial Properties For Sale / Lease 17 Meat packing company buys West Gosford industrial to expand 19 Opportunity to secure jewel of Point Frederick 19 Interest growing in Toowoon Bay properties

Front cover: Peter Hocking – Photo: Jeff McGarn

20 Mind your own business – Accounting and Tax Trends in 2020 20 Salaried employees and a new level of compliance 21 Why every real estate agent should have a reputable broker on speed dial

Regular features 6 Edgar Adams’ Editorial

CCBR welcomes Star Scientific

12 Business Briefs 15 Property news 18 Prestige Properties For Sale 19 Residential Prestige Property Report 20 Business Tip 21 Business Finance 22 Funny business

Hear Edgar Adams’ business comment 8.10am each Monday.

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Central Coast Business Review Central Coast Business Review is a Registered Trade Mark of Adams Business Publications Pty Ltd P.O. Box 3259, Erina, NSW 2250 Phone: (02) 4367 0733 Fax: (02) 4367 0744 Email: info@ccbusinessreview.com.au Typesetting by Graphic by Design ph (02) 4365 6777 Print & Distribution by Bromley Direct ph 0412 439 773 © Adams Business Publications 1994. All rights reserved. Reproductions in any part prohibited. While every effort has been made to ensure all information in this magazine is accurate, no responsibility will be accepted by the publisher, Adams Business Publications. The producer accepts no responsibility for illustrations or photographs supplied by organisations or individuals and/or typographical errors.

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COV ER S TORY

Peter Hocking, Syscon Pty Ltd PETER HOCKING WAS just 27 when he created a startup building telecommunications network infrastructure in 1998. The ambitious businessman turned over an impressive $250k in his first year. Through smart leadership and strategic decisionmaking, that start-up evolved into Syscon, a Level 1 Accredited Service Provider (ASP) that delivers turnkey electrical infrastructure solutions for private and government clients. Experiencing year on year growth, even during the GFC, Peter’s company is now on track to surpass his forecast of a $15 million turnover for the current year. His goal is to at least double that by 2025. In less than 22 years, Syscon has achieved extraordinary success and is now competing for projects against the big national players. There is no secret to Peter’s extraordinary success: just hard work, determination, hiring and nurturing great people, innovative systems and processes, and responding to customer needs. Today Peter employs a team of 45, owns 1800sqm of warehousing and office space on a 6000sqm site at North Wyong, 50 pieces of plant and equipment and last year opened his first satellite office at Ingleside to support the NBN build in Sydney. As we head into a new decade, the company is on the verge of even more exciting opportunities with potential for rapid growth in the very near future. So where and how did it all begin? Peter left school at Granville High at the age of 15 and 9 months and commenced a wood machining apprenticeship. Ambitious from an early age, he left to try his hand at

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other things after learning that the income potential of a fully qualified wood machinist failed to match his aspirations. At 19 he moved to Canberra and successfully applied for a job with an AGL contractor building underground gas mains. “As a young guy it was a real eye opener. I was on really big money and learnt heaps about the industry over the next two years,” said Peter. Moving to the Central Coast where his parents now lived, he decided to study while working full time, completing various courses, including team leadership, distribution warehousing and management. “I was working in the warehouse for a company in Mt Ku-rin-gai and before I knew it I was running their production department,” he said. It was around this time that his father, who ran an engineering company, was diagnosed with cancer and Peter was asked to manage the business while he underwent treatment. He rose to the challenge over the next 18 months until his father was well enough to return to work. Finding it hard to work alongside his father after being at the helm, Peter took on a job as a service manager for a Sydney based security group, managing a team of fifteen onsite service people. He thrived in the fast-paced role, doubling the turnover by focusing on the people and the customers. “I assessed the skills everyone had. Were they in the right roles for their skill sets? Did they like what they were doing? What companies could we align ourselves with that complemented what we did so that we could offer a complete turnkey solution for our customers? I really listened to every customer when they called and made sure we gave them what they wanted, no matter how obscure,” recalls Peter. He would eventually bring these staff and customer-focused qualities to his own business.

“Nobody wanted to deal with the customer when all the customer wanted was for someone to come out and fix their phone line. To me every request to fix something was a lead for a job, an opportunity.” Peter gained further beneficial experience working for a telecommunications drilling and civil works company on the Central Coast. After rising to the top of that company within just six months, Peter decided it was time to set up his own business. He just needed to raise the capital first. So in 1998 he formed a partnership and worked on a contractual basis for two years until both he and his partner had sufficient funds to go their separate ways. “I was ready to take a risk and go for it,” said Peter. In 2000, Peter started his own business, initially as a contractor installing underground cables for Telstra. His big break came when he secured a contract for pre-provisioning work in new housing developments on the Central Coast at a time when the region was experiencing rapid growth. Always considering how he could add value to improve his service and turnover, Peter undertook further study to obtain his construction cabling licence. Before long he had a team working for him, completing thousands of connections for Telstra’s head contractor, Visionstream, as well as a number of value-added services for individual customers. He soon discovered that his key strength of customer care was a weakness for other service providers. “Nobody wanted to deal with the customer when all the customer wanted was for

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COV ER S TORY

someone to come out and fix their phone line. To me every request to fix something was a lead for a job, an opportunity.” In 2007, Peter turned his attention to the power sector and Syscon was born. He secured a sub-contract with Connect Infrastructure on the back of his excellent systems and processes, despite not having prior experience in the power sector. After just one year, Syscon was awarded the Civil Contractor of the Year Award. In 2008, Peter engaged a consultant to help him establish the company as a Level 1 accredited ASP. Once successful, they were able to complete underground and overhead infrastructure works, opening new doors for the company.

“Once they are with us they tend to stay, although if I find that someone is not the right fit during their probationary period, I let them go. I call it, ‘sifting through the coal to find the diamond’.” Today Syscon completes infrastructure projects all over NSW and they are in the process of establishing an electrical division, which will allow them to complete every aspect of the electricals for high-rise developments, from the light switch through to connecting power to the grid. “There aren’t many companies that offer the full turnkey solution like we do,” said Peter. In a

Mark Heagney Business Development Manager, Rob Tyson Senior Project Manager, Peter Hocking Managing Director, Adrian Washington Senior Project Manager very recent development, Syscon has been announced as a panel contractor for the NSW Cooler Classrooms initiative, a 500 million dollar project that will be rolled out to over 900 schools over the next five years. “We are competing against big players on this panel. It’s very exciting,” said Peter. Planning for growth, he said, “For us to get to the next level, I need to get the IT right first. So I’m currently bringing some smarts (technology) into the business to help me scale it.” Growing the team won’t be difficult, as Syscon is known as a local employer of choice. “People come to us because they want to be part of what we’re doing,” said Peter, who looks for ambition and initiative in a new starter and is known for his open door policy and looking after his people very well. “Once they are with us they tend to stay, although if I find that someone is not the right fit during their probationary period, I let them go. I call it, ‘sifting through the coal to find the diamond’.”

Peter is across every aspect of the business, from the finances to the HR and compliance. “I have to be because I started from nothing and I’ve got families to support and I take that very seriously.” He regards cash flow as the number one challenge but has mitigated the risk of bad debt by having good contracts and systems in place. “Supply Authorities won’t power up the site until all the works are completed and unencumbered, so this safeguards us,” he said. 2020 will bring some further exciting opportunities to the company, which Peter could not yet discuss. All he could say is that the wheels are in motion. Married with four children, Peter said his goal at the start was to retire at 50. Now 48, that goal has been adjusted. “My father told me one of his biggest regrets was selling his business because it was his passion, the thing he lived for. And I have heard the same from others. This business is like my other child. So I don’t want that to happen to me.”

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EDITORIAL

Edgar Adams discusses local issues

CCBR welcomes Star Scientific ITS BEEN A long time since any significant company chose to locate on the Central Coast so CCBR is proud to bring you the story of hydrogen research company Star Scientific locating to our region. Star Scientific are a long established research and development organisation and will have around 100 people working at the former Krone facility at Berkeley Vale. As is often the case the senior people at Star Scientific have a connection with the Central Coast and Newcastle. Finding the idle Krone facility is what got them here. We welcome Group Chairman Andrew Horvath and his team to the Central Coast. Our congratulations to Member for Terrigal Adam Crouch on being appointed Parliamentary Secretary for the CentralÂ Coast. The idea of regions being represented at the highest level in government goes back to the appointment of the Hon John Della Bosca MLC by the Carr Labor Government in 2003 as Minister for the Central Coast. The Baird Liberal Government changed that in 2017 appointing Scot McDonald MLC as Parliamentary Secretary for the Hunter and Central Coast. And then in March 2019 following the State Elections the Premier abolished the position allÂ together. It was representations from the Gosford Erina Chamber of Commerce to the Premier

late last year that convinced her of the need for the Central Coast to be adequately represented at the highest level considering that we only had one Liberal Member of Parliament representing the whole region. The Premier obviously took this on board and understood that the Central Coast is not part of the Hunter Region. Thus, Mr Crouch can concentrate on the many issues affecting our region. Seven months to go! Local Government Elections will be held on Saturday, 12 September 2020 and with a little bit of luck and good management on the part of the Liberal Party the contemptible Labor/Green mob who control Central Coast Council will be thrown out. At the same time it is hoped that the Liberal Party will preselect candidates who not only have the future of our region at heart but can take the fight up to those who want to see it be the welfare capital of the world. We can also hope that those Independents who run will do so for the good of our region. The Central Coast deserves a group of councillors who are proud of our region, can see the future and understand that everyone who lives here has the right to a job, a local job. CCBR is aware of at least one Central Coast company that wants to build a multi-

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million factory and employ a lot of people and is being held up because of environmental issues on their land. There is also the issue of the Warnervale Airport which the Labor/Green Councillors want closed down at any cost. These councillors caused an aircraft manufacturing company that would have employed 100s of people and encouraged other support businesses to colocate with it to go interstate. For this the Council was in breach on contract and it is time that ratepayers were told how many millions of dollars that cost. These same councillors have had a wonderful time knocking back legitimate development applications that have then gone to the Land and Environment Court and been approved. The cost to ratepayers in legal fees will run into the millions of dollars. Worse than that though is the loss of jobs and the untold damage this is doing to our regional reputation. Fortunately for us the NSW Government has woken up to them and where they can are implementing policies to override Council. Edgar Adams Editor

BUSINESS NEWS

Breakthrough energy firm moves to Coast

Andrew Horvath

A HERO test unit in action EAGLE-EYED COMMUTERS ON Wyong Road will have spotted a new sign on the site of the former Krone factory on the corner of Enterprise Drive – “Star Scientific”. Intrigued, Central Coast Business Review tracked down Group Chairman Andrew Horvath for an exclusive interview. Star Scientific is a family-owned research and development company that has been investigating nuclear physics for over 30 years, in the area of Muon catalysed fusion. As a spin-off of to this R&D they have discovered and developed a breakthrough catalyst for converting hydrogen into

heat without combustion – the Hydrogen Energy Release Optimiser, or “HERO®”. In layperson’s terms, HERO® is a coating, that when affixed to a backing material and introduced to hydrogen and oxygen in a closed environment, “glows”. It quickly generates massive heat and the only output is pure water, which can be re-used in the process. The test units generate over 700 degrees Celsius within about 3 minutes and have produced industrial steam on a small scale. As Andrew Horvath explains it, “we are now in the process of scaling the test units up, to prove HERO®’s applicability for indus-

trial processes such as electricity generation and desalination. Sitting in the Berkeley Vale facility is a purpose-built 1.5-megawatt turbine from Siemens, which we hope to have spinning by the end of this year, powered by hydrogen via the HERO® catalyst.” Obviously, the prospect of industrial-scale heat generated without combustion has captured global attention. “We are in constant conversation with governments, corporations, investors and energy NGOs across the globe, but with particular interest from the United States, Europe, Japan and Korea. The prospect of extending the life of major capital assets such as power stations and electricity distribution infrastructure has stakeholders most enthusiastic.” CONTINUED ON PAGE 8

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BUSINESS NEWS

Adcock Park Redevelopment underway

Perspective looking North along proposed promenade to building WORK HAS COMMENCED on redevelopment of Adcock Park at West Gosford with the first sod being turned in early December. The $26.2 million project is being carried out by local construction company, Pluim Group with design by architects CKDS Architecture from East Gosford. Central Coast Council Director of Environment and Planning, Scott Cox said “Over the next 12 months the community will see the construction of a state-of-the art multi-purpose sportsground amenities

building that will accommodate five of the seven sporting codes that utilise this regional facility.” “In addition to the construction of the building and a temporary access road to support traffic movement throughout the construction period, a major electrical supply upgrade will also be undertaken to address the existing overload at the site.” “Stage Two works will follow on from this first stage and include the redevelopment of the existing sporting fields, construction of five additional netball courts, construction

Breakthrough energy firm moves to Coast The development of HERO® will, however, not be without its challenges. “The biggest challenge we will face is the supply of green hydrogen as HERO® is taken up by industry. From our perspective there are not enough solar farms or wind farms in Australia, not by a long shot, and global competition to supply hydrogen will be fierce. It is good to see, therefore, the Federal Government taking the bull by the horns via Chief Scientist Alan Finkel’s national hydrogen strategy.” So how did this potential global revolution in green energy come to be located on our very own Central Coast? “We’ve always had a strong presence in the region”, says Mr Horvath. “Our first facility was on the Coast before we moved to Newcastle. However, the discovery of HERO® and the need to rapidly scale up meant we needed a larger facility and we just couldn’t find the right space in the Hunter. Then the Berkeley Vale facility came up and it was almost perfect – having said that we have

CENTRAL COAST BUSINESS REVIEW FEBRUARY 2020

of a consolidated car park at the entry to the site and upgrade of sportsground lighting.” The redevelopment will support increased usage while also creating a venue capable of attracting inter-regional and State level sporting competitions to the Central Coast. Funds for the project were provided by Council and the NSW Government through the Public Reserve Management Fund. Meanwhile work is progressing on the $10 million transformation of Leagues Club Field in Gosford which commenced in early December 2019.

CONTINUED FROM PAGE 7

already spent $2 million on it and will probably spend about $5 million before it is right. It will house some of the most sophisticated scientific instrumentation on the globe.” When it is fully operational Mr Horvath expects the site will employ up to 100 staff. Many of the current staff are located on the Central Coast and he expects many more to be drawn from the region. From there Mr Horvath expects bigger things, including a full-scale industrial park. “We can see no reason why this can’t be based on the Central Coast or the Hunter, although we are already getting inquiries from other States and countries. However, we are very comfortable with the region and would prefer not to move. One of the spin-offs benefits we can see is showcasing the Central Coast to the global scientific and investment community, who have been visiting us in Newcastle in a steady stream.” One of the most exciting aspects of Star Scientific’s growth has been the collaboration with the University of

Newcastle. Mr Horvath said that it was UON’s head of the School of Chemistry, Scott Donne, who first gave HERO® the tick of approval. He said that the collaboration has grown from there, with Star Scientific working on a joint hydrogen project with Professor Donne’s department, partly funded by the Federal Government’s Innovation Connections program. One of the other challenges that Star Scientific has faced has been the sheer volume of incoming requests from stakeholders across the globe. To help ease the pressure on himself, Mr Horvath has recently hired another Central Coast resident, Matt Hingerty, the former CEO of Australia’s largest lobbying firm, Barton Deakin. “Being involved with Star Scientific and its breakthrough technology is exciting enough, however the prospect of making an impact on the economic development of the Central Coast, where I live, is very satisfying indeed”, Mr Hingerty said.

BUSINESS NEWS

Adam Crouch appointed Parliamentary Secretary for the Central Coast NSW PREMIER THE Hon. Gladys Berejiklian has appointed Member for Terrigal Adam Crouch MP, Parliamentary Secretary for the Central Coast. The announcement was made in midDecember and comes after the Gosford Erina Chamber of Commerce made representations to the Premier when the NSW Cabinet held a Community Cabinet meeting on the Central Coast in September last year. Following the State Election in March 2019 the Premier abolished the position Parliamentary Secretary leaving the Central Coast region without any direct representation with the Government. Prior to this MLC Scot Macdonald was Parliamentary Secretary for the Hunter and Central Coast from 2015 until 2019. Mr Crouch’s appointment is significant as it recognises the Central Coast as a region in its own right. Mr Crouch said, “I am honoured to be asked by Premier Gladys Berejiklian to serve as the Parliamentary Secretary for the Central Coast. This role provides additional opportunities for the Central Coast’s needs and wants to be aired at the highest levels within the NSW Government. The Central Coast is a rapidly growing community. Between 2016 and 2036 there will be an additional 75,500 people calling our region home. This is a challenge that requires all levels of government to work together. Our Government’s key achievements include the redevelopment of Gosford and Wyong hospitals, half a billion dollars for State road upgrades, revitalising the Gosford city centre and unprecedented levels of funding for local schools. In the last two years alone, Central Coast Council has received more than $90 million in grant funding from the NSW Government. It is my mission to ensure our region continues to receive its fair share of funding – now and into the future. Gosford Erina Business Chamber, President Rod Dever said, “The announcement is seen as a positive response to the business community from the NSW State Government. “The appointment reinforces the Premier’s words that the Central Coast is important to the government and is certainly on the government’s radar. Having a Parliamentary Secretary for the Central Coast allows for greater representation and provides a stronger voice for the region. “The Coast has so many projects which require continued focus, including the Gosford City Redevelopment, which cannot be left lagging,” Mr Dever said.

NSW Premier, Gladys Berejiklian with Member for Terrigal Adam Crouch MP

Community feedback sought on airport review The NSW Government is calling on the community to provide its feedback as part of an independent review into legislation governing Warnervale Airport. Parliamentary Secretary for the Central Coast and Member for Terrigal Adam Crouch said the review of the Warnervale Airport (Restrictions) Act (1996) will consider the best way to regulate the Airport into the future. “Warnervale Airport is an important regional asset and feedback from the community will play an important role in determining its future,” Mr Crouch said. “I encourage all local residents, Aero Club members and interested stakeholders to take a look at the terms of reference and provide your feedback or come along to a public forum on 28 February.” Member of the Legislative Council Taylor Martin said the review will provide more certainty about the future operations of the Airport. “We want to ensure we get the best outcome for this asset and the region and

so we’re asking the community to be part of the process and provide feedback,” Mr Martin said. The independent review is being led by Abigail Goldberg who has extensive experience in infrastructure, resources, urban planning and transport. Ms Goldberg will be supported by aviation industry expert Peter Fiegehen, and will report back to the Government at the end of March. The review will make recommendations on how to best govern the Airport into the future. Submissions to the review can be made until 28 February and a public forum will also be held on 28 February at the Wyong office of Central Coast Council. For further information on the review, how to make a submission, or to register to speak at the public forum, go to www. Planning.nsw.gov.au/Warnervale-airport Prior to making comments it is important to view the Terms of Reference otherwise your comments may be disregarded

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BUSINESS NEWS

Marlin Campers wins national award for best camper under $25k WEST GOSFORD MANUFACTURER, Marlin Campers, has kicked off 2020 on a high after winning the Australian Camper Trailer of the Year Award in the under $25,000 category for its Escape Deluxe model. Retailing for under $12,000, the camper trailer was up against finalists more than double its price point. Entry to the national awards, which adopts a rigorous off-road judging process over three consecutive days, is by invitation only. Impressing all four judges with its “refreshing simplicity”, solid construction, off road capabilities and exceptional value for money, Marlin’s Escape Deluxe, like their other models, is made to order from quality Australian made components. Kath Heiman, one of the judges who put the camper through its paces in a variety of challenges said, “It’s hard to go wrong with such a simple, well thought-

out unit supported by a locally based team happy to incorporate individual needs.” Marlin Campers’ customer care and after sales service also stood out to the judges, who were particularly impressed that all buyers are offered two nights in a local holiday park so they can learn about the camper Marlin Campers owner Steve Brettoner with award and how to set it up from the winning Escape Deluxe model camper trailer manufacturer himself. Marlin Campers was established in is that people aren’t buying my camp2008 by Steve Brettoner, a family man ers because that’s all they can afford. It’s and lifelong camping enthusiast from because they’re looking for that simple Bensville. While in business now for escape. Once I narrowed that focus down twelve years, like most, he has had his it became really clear what I was doing. share of challenges along the way. His I’m not trying to be everything for everyturning point came in 2015 when he realbody. What I am doing is servicing a segised the benefits of focusing on his niche ment of the market to an exceptionally market. “What I have come to understand high standard.”

Clubs a role model for corporate citizenship Community clubs continue to set the precedent for corporate citizenship in local communities, delivering on community objectives, as well as their own corporate targets. Case in point is the vital role community clubs play in hosting professional events and activities that unite communities whilst at the same time, proving valuable revenue streams for charities and community organizations. A perfect example of this is the relation-

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Email: Edgar Adams, Editor, CCBR edgaradams@ccbusinessreview.com.au

CENTRAL COAST BUSINESS REVIEW FEBRUARY 2020

ships Central Coast clubs have established with the community’s own Westpac Rescue Helicopter Service and the popular weekly housie programs. Helicopter Housie is conducted weekly at Halekulani Bowling Club, Doyalson Wyee RSL, The Entrance Leagues Club and Mingara Recreation Club, with participant numbers continuing to grow. ‘By providing a professional, quality venue for our Housie activity on the Central Coast, our community participation is growing, with a resultant increase in vital funds raised for the Westpac Rescue Helicopter Service,’ the Services Central Coast Community Liaison Officer Shannon Stanton said. ‘In addition to the financial benefit to the Service, ensuring that we can continue to operate 24/7 for the community, our Housie program serves to provide a valuable meeting place and catalyst for socialisation amongst local communities,’ Stanton said. ‘This socialisation has been proven to enhance personal wellbeing, mental health and overall self confidence amongst participants, most of whom are elderly and this is something that both the Service and the hosting venues are proud to be able to contribute to,’ Stanton concluded. For the venues, it provides an opportunity to give back to the community both for participants in Housie but also for the wider community by supporting the Rescue Helicopter.

Helicopter Housie is conducted weekly at Halekulani Bowling Club ‘Like all business, we have corporate financial objectives that we must meet to continue to operate profitably but to do this in such a way as to provide an immediate ongoing return to the community is extremely rewarding,’ David English, Secretary Manager of the Halekulani Bowling Club said. ‘We’ve aligned with programs such as the Rescue Helicopter Housie because it provides an outlet for the older members of our community to socialise and remain active, with the subsequent health benefits that come from that,’ he said. ‘At the same time, it provides a valuable revenue stream for such a vital community service that is the Westpac Rescue Helicopter. To fulfill our own operational and financial targets as a business, while contributing to public health and wellbeing for our older citizens and supporting a Service that provides state of the art aeromedical services around the clock for our community, is a ‘win win’ for all involved,’ English concluded.

BUSINESS NEWS

Brand Group’s plans for 2020 Local property developer, the Brand Group, is so confident about the Central Coast and where it is heading that they are moving ahead with several new projects this year. First will be a gated estate at 314 Avoca Drive, Avoca Beach approved in December last year. The exclusive rural estate will comprise 17 Hampton style 3-bedroom homes with 2 bathrooms and 2 car spaces on a 2 hectare site with blocks ranging in size from 400 to 650 sqm. Brand Group Project Director Tim Gunasinghe said that all homes would be built to a 7-Star NABERS rating and would sell in a price range from $1 million to $1.1 million. He said that the Clean Energy Finance Corporation had recently announced a green home loan programme for borrowers who meet 7-star energy rating finance will be available at rates as low as 2.44%. “This will be good for those people buying into this estate,” he said. Construction will start this month.

Wyong Industrial Estate Meanwhile In the Wyong Industrial Estate the Brand Group acquired a 3.5 hectares site in Donaldson Street early in 2018 from mining services Brand Group’s subdivision 314 Avoca Drive, Avoca Beach company AJ Springfield subdivision Lucas. Also, this year the Brand Group is aiming They will commence development of to subdivide a 4 hectare lot at Yellow Box 20 warehouse / industrial units at 13-17 Avenue, Springfield which they acquired Donaldson Street on the corner of Lilly at auction in early 2018. Pilly Place, a 1.4 hectare site and will A DA is presently with council for a subdivide into 2 lots a 1.95 hectare lot at 16-lot residential subdivision ranging in 19 Donaldson Street. size from 585 sqm to 900 sqm

Consolidated LEP deferred again CENTRAL COAST COUNCILLORS continue to frustrate the approval of the Consolidated Environment Plan and Development Control Plan which was deferred once again at Council’s meeting on 9th December. Councillors were unanimous in voting for the deferral. Deputy Mayor Jane Smith put forward the deferral after successfully having it deferred by a last minute Mayoral Minute at Council’s July 8 meeting last year. It would appear to be a ploy to drive away developers and investors who are looking to develop properties across the region as part of the State Government’s Central Coast Regional Growth Plan 2036 that will see a further 70,000 living, mostly, in the northern Central Coast. On this occasion the Deputy Mayor said that they needed time for legal advice on council’s ability to rezone privately owned land holdings. She also wanted an updated table that compared the proposed changes with the former Gosford and Wyong councils’ plans, which this process was consolidating, and a briefing on the environmental and urban edge review. The LEP and DCP were out on public exhibition from late 2018 until March 2019 and attracted 756 written submissions. The consolidation of the former Gosford and Wyong planning instruments is the essential first stage in producing a Comprehensive LEP for the region. The plan aims to reduce minimum lot

sizes across the coast to 450m2 in the R2 low density residential zones. This would create a theoretical potential of 1,147 parcels of land to be created within the former Gosford Council area. The majority would not be realised due to the placement of existing homes on the blocks and limitations imposed by existing DCP controls that increase lot size requirements based on site slope. “The maximum height and floor space ratio currently applicable within the business centre and surrounding R1 General Residential zoned land is not proposed to change.”

The report to councillors said that during the preparation of the draft LEP and draft DCP a number of matters were identified that required further and more detailed consideration and that investigative studies had commenced to inform the next stages. Earlier in the process, Councillor Smith had tried to get the council to simply bypass a consolidated plan and go straight to a comprehensive plan. The draft plans will come back to the council next year. Under rules set by the State Government when it amalgamated the two councils in 2016, the LEP has to be completed by July 26, 2020.

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CENTRAL COAST BUSINESS REVIEW FEBRUARY 2020

BUSINESS BRIEFS

Cathy Baker takes on Belle Property franchise for whole Coast

Cathy Baker

Peter Kunov

Belle Property’s Killcare and Terrigal franchisee Cathy Baker has now expanded with the Belle Property franchise extending from Magenta in the north of the Central Coast to Pearl Beach in the south. As Principal of Belle Property Central Coast Ms. Baker advises that she has acquired larger premises in Pine Tree Lane, Terrigal which will become their Head Office. Peter Kunov who joined Ms. Baker in March last year has been appointed General Manager. Belle Property Central Coast specialises in the luxury segment of the residential and holiday lettings markets as well as property investment. Ms. Baker has also introduced a new complimentary service for clients, a 10 year Lifestyle Plan that takes into account a clients’ current situation and their plans for the future leading into retirement. Ms Baker launched her first office at Killcare in 2015 after five years working in real estate on the Coast.

Chapman & Frazer expands

Emily Mayrhofer, Daniel Mason, Mark Davies and Chris Watson Chapman & Frazer Commercial Real Estate, one of the oldest real estate agents on the Central Coast, based in Gosford since 1956, has opened an office in the Nexus Smart Hub at Wyong. Announcing the move Managing Director Daniel Mason, who along with Chris Watson acquired an interest in the business four years ago, said that opening a second office in Wyong provided additional space to accommodate an increase in staff as well as to service the northern areas of the Coast. Mark Davies who has twenty years real estate experience across the Central Coast and joined Chapman & Frazer three years ago has been appointed Manager of the Wyong office. Emily Mayrhofer who was formerly property manager for a Wyong real estate company for the past eight years has been appointed Property Manager. She succeeds Bill Loxton who, after 19 years with Chapman & Frazer has retired from the firm.

Meanwhile former Managing Director of over 30 years, Rob Willcox has retained an interest in the business and continues to act as a consultant. Central Coast Leagues Club appoints CEO

Edward Camilleri Central Coast Leagues Club is pleased to announce the appointment of Edward Camilleri to the role of Chief Executive Officer. Mr Camilleri comes to the Club after 28 years in the role of CEO at Revesby Workers Club. During his tenure, he supervised a large-scale multimillion-dollar redevelopment that included the addition of several food and beverage outlets, a retail precinct, a fitness centre, childcare centre, and medical facilities. He successfully led Revesby Workers to become one of the top five clubs in NSW and established long term, generational

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BUSINESS BRIEFS

income streams for club stakeholders. Mr Camilleri has hit the ground running at Central Coast Leagues Club. “I’ve spent the last five weeks getting to know the employees of the Club, introducing myself to members and listening to their ideas and concerns and letting them know how we’ll address them,” he said. A Terrigal resident, Mr Camilleri is more than familiar with the Coast and is proud to be part of the Leagues Club team as they enter an exciting new phase - delivering their Masterplan to the community. The Masterplan for Central Coast Leagues Club will be his major focus - with Central Coast Leagues Club to be modernised and completely transformed. “Not many clubs have the opportunity to redevelop a site to make it a new club from scratch, which is exactly what we have with Central Coast Leagues Club. The opportunity to combine retail, entertainment, residential and hotel accommodation in one location right in the heart of Gosford is unique.” Clubs across the globe are becoming more diversified he says. “We’re seeing more clubs offering fine dining experiences, combined with shopping precincts, and 24-hour gyms; the Central Coast has the opportunity to be a world-leader through our Masterplan development.” Beyond the Masterplan initiative, Edward is passionate about the prevention of domestic violence. “I’m very keen to start discussions with local charity groups about how Central Coast Leagues can assist those in need,” Edward commented.

AdviceCo announces new business Principals

From left: Troy Marchant, Christine Hallowes, Steve Walker, David Evers, Gerard Andrews and Debbie Bloffwitch The AdviceCo. leadership team (formerly Robson Partners) is pleased to formally announce the entrance of two new business Principals: Senior Accountant, Debbie Bloffwitch and Senior Financial Planner, Christine Hallowes. Both are highly valued members of the AdviceCo. team, leading Accounting and Wealth business divisions respectively. They join David Evers, Troy Marchant, Gerard Andrews, Steve Walker and CountPlus as shareholders of AdviceCo. Ms Bloffwitch recently celebrated her 30th work anniversary as an Accountant with the AdviceCo. team, stating this new partnership arrangement is a long-held

career goal and achievement. Ms Hallowes career also spans 30 years across the financial services industry in Sydney and here on the Central Coast. AdviceCo.’s Managing Director, David Evers, believes the balance of perspective and ideas they will continue to bring to business decisions will only benefit the team and clients alike. All six AdviceCo. partners are united over their recently designed business purpose to help their clients, team and community to be better off. By sharing their passion, skills and advice, they intend to make a positive difference to those they work with and drive sustainable business growth into the future.

CENTRAL COAST BUSINESS REVIEW FEBRUARY 2020

NEWS

Bouddi Foundation for the Arts seeking major sponsor well as taxidermy and mycology, has been commissioned by the Smithsonian Institute in Washington DC USA to create an installation.

Bouddi Foundation for the Arts Chairman John Bell presents guitarist Min Anh with his Award which will help him complete his music degree at Sydney University THE BOUDDI FOUNDATION for the Arts was founded ten years ago by a group of residents, living in the Killcare area led by acclaimed Shakespearean actor and theatrical director John Bell AO, to provide funds to assist promising young artists with encouragement as well as the money needed to advance their dreams and education. “2019 was a record year for the Foundation,” said Chairman John Bell. “A total of $42,000 was raised in donations which meant that we could provide 24 grants to young Central Coast artists,” he said. Commenting on the continuing success of the Awards Mr Bell said, ““Every year, I am astonished at the depth of talent among young people from the Central Coast and 2019 is no exception. Indeed, the level of artistry seems to be improving, which is impres-

sive, since it was already at a high level.” The 24 grants cover a wide range of artistic pursuits, including traditional and classical dance; contemporary and classical music; sculpture; filmmaking, painting; puppetry and musical theatre. “Most are one-off awards to assist young people with tuition, materials and equipment, upgrading instruments, and more,” said Mr Bell. “We have twice helped to meet fees for two-year post-graduate studies at prestigious overseas universities.” “For the first time, we are offering a threeyear scholarship to amazing young guitarist, Min Anh, to help him complete his music degree at Sydney University.” Puppeteer Gabrielle Paananen an Alumni of the Foundation who makes puppet creatures for performances in public spaces, as

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CENTRAL COAST BUSINESS REVIEW FEBRUARY 2020

Generous donors The high level of grant funding is possible due to increases in number and value of donations. Mr Bell paid tribute to donors. “We are very grateful for the generosity of our donors, who are the lifeblood of our grants program,” he said. “Donors are responding to the demonstrated success of the young artists and, in turn, have given their support. It is heartening to see such faith in our young people and commitment to their future.” The 2019 Awards, held in the Wagstaffe Hall in November 2019 featured internationally acclaimed Australian film director, Bruce Beresford and Foundation Patron who spoke about his career including his latest hit movie “Ladies in Black”. Seeking a major sponsor With the Bouddi Foundation for the Arts Awards now firmly established Mr Bell said that the Committee is now seeking to attract a major Central Coast sponsor. Presently Origin Theatrical sponsors the Theatrical Performers Award and Origin Music Publishing sponsors a Songwriting Award. Meanwhile publishing house Allen & Unwin have announced that they will sponsor future Literary Awards. 2019 Bouddi Foundation for the Arts Awardees: • Min Anh of Tumbi Umbi, • Maddy Bell of Empire Bay • Jacinta-Rose Burley of Blue Haven, • Jake Cheong who graduated from Gosford High School, • Jasper James Duff of Killarney Vale, • Amy Flannery of North Gosford, • Nicolas Geddies of Bateau Bay, • Kimberley Gilbert of Erina, • Danielle Guyot of Kariong, • Lucas Hollands of Saratoga, • Sophie Kelly of Terrigal, • Elissa Koppen of Killcare Heights, • Polytra Liufalani of Copacabana, • Riley Lovell of Davistown, • Harry Moulston of Wyoming, • Gabrielle Paananen of MacMasters Beach, • Lucy Parle of Lisarow, • Sebastien del Rosario-Hibbard of Erina Heights, • Brad Tham of Springfield, • Ella Sandeman of Mount Elliott, and • Niamh Watson and Eliza Williams both of Narara.

PROPERT Y NEWS

Star Scientific leases at Berkeley Vale

Investor buys vacant Tuggerah unit An investor has paid $875,000 plus GST for Unit 7 a 535sqm vacant unit at 1 Reliance Drive, Tuggerah Business Park. The unit last traded in 2006 for $572,000 (RPData). Ty Blanch and Brett Dowling from L J Hooker Commercial Central Coast negotiated the sale. Erina commercial investment sells

STAR SCIENTIFIC HAS leased one of the most significant industrial complexes on the Central Coast at 2 Hereford Street, Berkley Vale (corner of Wyong Road and EnterpriseÂ Drive) The property comprises 8,957sqm of building space including 3,000 sqm office space, 5,900 sqm factory/warehouse space, extensive car parking spaces and hardstand with truck ingress and egress point on a 2.15 hectare site. Originally built for communications

Berkeley Vale factory sells at auction

A 3,155 sqm freehold industrial lot with 1,244 sqm industrial building thereon has sold with vacant possession at auction under instructions from the mortgagee at 9 Craftsman Avenue, Berkeley Vale. The building is of large clearspan warehouse design with multiple roller shutters, 5-tonne travelling gantry crane and mezzanine office area The property was auctioned by Raine & Horne Commercial and sold for $1,885,500 including GST.

connectivity company Krone some 30 years ago the property was last owned by CommScope Technologies who closed the business down five years ago and was acquired by the present owner in 2018. Terms of lease are 5 years with 5 year option at a rental of $940,485.00 per annum net plus GST. Brett Dowling from LJ Hooker Commercial Central Coast negotiated the lease.

The Growup Financial Hub at 3 / 20-24 Karalta Road, Erina has sold for $2.45 million (GST not applicable) The 500s sqm office complex is leased to a number of commercial tenants plus coffee shop. Brad Rogers from Rane & Horne Commercial negotiated the sale. Sales in The Arc complex Tuggerah Business Park

Erina retail sold

A bulky goods retail property at 34 Karalta Road, Erina that is leased to Base Warehouse has sold for $2.8 million (GST not applicable). The property comprises a 1,237 sqm warehouse building on a 2,782 sqm lot with parking at the rear. Ben Perdue from Raine & Horne Commercial negotiated the sale.

Brett Dowling from L J Hooker Commercial Central Coast reports the sale of two units in The Arc, a 18 unit complex at 19 Reliance Drive, Tuggerah Business Park. 7.8% return for Tuggerah unit on short lease An SMSF investor has paid $412,500 (GST not applicable) for Unit 15, a 139 sqm unit. The unit is leased to Gerard Lighting on a new 1 year x 1 year lease at a rental of $35,490 per annum gross plus GST resulting in a return of 7.8% per annum. Owner occupier buys Unit 14 An owner occupier has bought Unit 14 of 166 sqm paying $460,000 (GST not applicable) The unit, as with all units in the complex comprises two levels with ground floor warehouse and 2nd level air conditioned office and amenities.

CENTRAL COAST BUSINESS REVIEW FEBRUARY 2020

PROPERT Y

COMMERCIAL AND INDUSTRIAL PROPERTY FOR SALE/LEASE

FOR SALE

PROPERTY OF THE MONTH

TUGGERAH - EVERYTHING YOU COULD EVER IMAGINE!

SOMERSBY

Situated on the corner with exposure to both Reliance Drive & Pioneer Avenue, the land is Approx. 3,484m2. B7 zoning is flexible. FOR SALE - $1,114,880 + GST

Factory bay approx. 144m2, located in Kincumber Industrial hub. In addition is a yard on title that can be developed subject to CA. Large roller door, shower & separate W.C, 3 car parks, 3 phase power & Secure gates FOR SALE – EXPRESSIONS OF INTEREST

2 street frontages, great parking & hardstand. This investment will suit owners with an eye for future growth. Consisting of a unit complex w/ freehold Torrens title the building is divided into 4, approx. 160m2. FOR SALE - $999,000 (NO GST)

WYOMING - LARGE RETAIL TENANCY IN FIVE WAYS CENTRE!

TUGGERAH - PROSPERITY!

Select your preferred unit from a range of thoughtfully designed industrial premises; some with drive-thru access to private yards! PLANS & PRICE LIST AVAILABLE. CALL NOW! Affordable, quality, location & prestige! FOR SALE & LEASE – FROM $403,200 + GST / $53,000 Net Pa + GST

BEST BUY IN SOMERSBY

IN1 Zoned, cleared land approx. 7,879m2. 2 driveway access points. Dual access & turning circle for trucks. Positioned in the Somersby industrial area, only a min or so from the M1 Motorway FOR SALE - $1,495,000 + GST

CHARMHAVEN - INDUSTRIAL UNIT CLOSE TO THE M1

WYONG – DON’T MISS OUT ON THIS INDUSTRIAL UNIT

Large 234m2 industrial unit with 5 allocated car spaces. Vehicle access in & out of the complex is excellent. Zoned IN1, it is suitable for most light industrial businesses. FOR SALE $450,000 + GST

WARNERVALE – 6 INDUSTRIAL UNITS AVAILABLE

6 new units at the Warnervale interchange, approx. 158-192m2. All units have DA approval mezzanine levels. FOR SALE FROM $410,000 + GST

WYOMING - PRIME SHOWROOM / OFFICE

Each unit is approx. 135m2. Situated opposite Brian Hilton Toyota. The property is vacant & available now. Zoned IN1, currently located

Visit our website for additional properties and more information centralcoast.ljhcommercial.com.au

7 Palm Tree Rd, Wyong

Sizes from 353m2 Internal clearances from approx 6m Concrete Construction 10kw Solar Power System Expected Completion mid-2020

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WEST GOSFORD – TENANTED INVESTMENT OPPORTUNITY Buy 3 units in 1 line! Approx. 200m2 each with male/ female toilets, showers + kitchen, all have an office at the front. Each have roller doors, approx. 15 car parks 5 undercover spaces. 5 mins to the M1 Hwy. FOR SALE - $1,275,00.00 NO GST APPLICABLE

SOMERSBY - DO NOT DELAY! GOOD VALUE WAREHOUSE

IN1 Zoned approx. 390m2, concrete & color bond construction. Great internal height. Office at front of the building w/ its own entry. Male/Female amenities, car parks in front of the unit. A min or 2 to the Hwy. FOR SALE - $629,000 + GST

Phone 4353 7700

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5 Brand New Top Quality Warehouses with Great Access and Long Spec List! • • • • •

Approx. 191m2 of open plan space & mezz. Ideal for office or storage, deliveries/pickups. 2 car parks, kitchen, toilet, air con, customer parking. Established retail Centre with 18 shops & low strata levies. FOR SALE – EXPRSSIONS OF INTEREST

Suite 401 / 1 Bryant Drive, Tuggerah NSW 2259 87 Mann Street, Gosford NSW 2250

UNDER CONSTRUCTION

FOR SALE / LEASE

Each unit is approx. 135m2. Situated opposite Brian Hilton Toyota. The property is vacant & available now. Zoned IN1, currently located between a VET & GYM. It’s being offered in one line or separately. FOR SALE – EXPRESSIONS OF INTEREST

KINCUMBER - ATTENTION OWNER-OCCUPIERS & INVESTORS

TUGGERAH - YOU WILL NOT SEE ANOTHER LIKE THIS!

Front Industrial unit w/ excellent exposure. Approx. 339m2 incl upstairs mezzanine, Kitchen & offices with 3 allocated car spaces. It virtually backs onto Bunnings Warehouse & only 5 minutes to the M1. FOR SALE $550,000 + GST

WYOMING - PRIME SHOWROOM / OFFICE

Brad Rogers 0459 921 122 Ben Purdue 0450 719 600

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ADVERTISE YOUR PROPERTY IN CCBR For further information phone 4367 0733 or email info@ccbusinessreview.com.au

PROPERT Y

Meat company buys West Gosford industrial to expand

QUALITY OFFICE/SHOWROOM ON CENTRAL COAST HWY IN WEST GOSFORD FOR LEASE

This property offers a range of opportunities to lease quality space with superb exposure to Central Coast Highway. The property offers ground floor space of 200-423sqm, ideal for showroom users, among various other uses, and the first floor offers quality space from 180sqm up to 900sqm. With ducted air conditioning, LED lighting, lift access (including access from the secure basement car parking), great natural light, quality amenities and incredible signage opportunities. If you’re looking to move your business to the next level of exposure, call us today!

UNIT 11/11 DONALDSON STREET, WYONG FOR LEASE

CONVENIENT AND AFFORDABLE Positioned in a small complex in Wyong, 120sqm approx. offering high clearance roller shutter, 3 phase power, high internal clearance and amenities. The landlord is motivated and will offer a rent-free period to assist a quality Lessee to relocate Available now.

1/6 HEREFORD STREET, BERKELEY VALE RENT $80/SQM + GST

LARGE WAREHOUSE AREA A great opportunity to lease the whole of or areas from 700sqm up to 3,600m2 within this large industrial space, perfect for logistics companies with great access for semitrailers, and dog trailer access with the potential for B-Double access, clearance up to 7.5m,multiple roller doors access points, fire sprinkler system, internal and external offices over 2 levels, workshop area, compacted gravel yard area, access to weigh bridge and a large covered loading or storage canopy/awning area with 10m clearance. Ideal for a variety of business looking to capitalise on this great position to the M1 Motorway allowing for convenient access to both Sydney and Newcastle. Contact: Mark Davies 0422 442 858 Daniel Mason 0403 889 530 Chris Watson 0402 430 213 Prices shown with * are inclusive of GST.

4325 0208 83 MANN STREET, GOSFORD 2250 www.chapmanfrazer.com.au

One of the largest industrial sites at West Gosford has been bought by Arcadian Organic Meats, which owns the neighbouring property, with plans to expand their operations. 12 Jusfrute Drive, West Gosford comprises a site area of 9,168 sqm with 2,995 sqm of building space plus 300 sqm office space.

The complex includes: freezer rooms, cool rooms, warehousing with pallet racking, staff amenities, fitted out office space, extensive hardstand and parking for 20 cars. Price paid was $2.85 million (GST not applicable). The sale was negotiated by Andrew Dunn from Raine & Horne Commercial.

LEASINGS

SPECIALIST MEDICAL & PROFESSIONAL SUITES

TUGGERAH 154 Pacific Highway

Ideally located on the Pacific Highway within the established Tuggerah Straight Commercial Centre, these Specialist Medical & Professional Suites are perfectly situated. Neighbours include Healthscope Medical Centre, PRP Radiology, Pathology, Sports & Spinal Physiotherapy, Chiropractor, Dentist, Psycologists & more. With a variety of suites available and plenty of parking, opportunities include both ground floor and level 1 suites. Tuggerah Medical & Professional Rooms range from 13m2 to 24m2 and start from as little as $1,250 per month +GST. Level 1 accessed via lift or stairs hosts suites from 59m2 with the East Wing Professional Suites ranging from 73m2 to 103m2 there is a size to suit a variety of Professionals including Medical, Financial, Legal etc... Other tenants include BCF, Super Cheap Auto and Romi’s Café and make this an ideal location with plenty of parking. Features include • Flexible lease terms • Very Competitive rentals • Excellent parking • Air-conditioning • Carpets, kitchenette • Balcony access for most suites

Recruitment company leases at The Entrance Recruitment company, Castle Personnel Services Limited have leased at 82 sqm shopfront office at 98 The Entrance Road, The Entrance. Terms of lease are 1 year with 2 x 1 year options at an annual rental of $24,000 per annum plus Outgoings and GST. Ben Purdue from Raine Horne Commercial negotiated the lease. Acting school leases at The Entrance Rise School of Entertainment has leased 66 sqm of office space comprising Suites 3 and 5 at 120 The Entrance Road, The Entrance. Terms of lease are 3 years with no options at a rental of $18,500 per annum including Outgoings plus GST Ben Purdue from Raine Horne Commercial negotiated the lease.

For further details please contact Julie Davies on 4355 5111 CENTRAL COAST BUSINESS REVIEW FEBRUARY 2020

PRESTIGE PROPERTIES FOR SALE

CENTRAL COAST BUSINESS REVIEW FEBRUARY 2020

RESIDENTIAL PRESTIGE PROPERT Y REPORT

Opportunity to secure jewel of Point Frederick

Tony Denny’s luxury beachfront penthouse for auction

Point Frederick is often said to be the jewel of the Central Coast, but the jewel of Point Frederick must be Tony and Jan Collins’ trophy home right on the point. The dentist and well known marathon runner bought the waterfront property at 1 Albany Street in 2013 and relandscaped and renovated it to take full advantage of the extensive views across Brisbane Water. They have now decided its time for someone else to enjoy and have appointed Tim Andrews from LJ Hooker Terrigal to find a new owner. Built on a 1756 sqm block with deep waterfrontage, two jetties, deep water mooring, slipway and boathouse the 5-bedroom residence with spacious outdoor entertaining areas and luxury finishes throughout, the Collins have put a price guide on the property at $4.4 to $4.8 million. For more information call Tim Andrews on 0412 663 065

Terrigal’s most prestigious beachfront penthouse will go under the hammer on Saturday 29 February as Central Real’s newly completed Elysium development unveils its exclusive luxury penthouse for auction as part of its final release. Tony Denny said “it’s a once in a lifetime” opportunity. You just won’t find an apartment of this size or location and panoramic water views to the Terrigal haven and right around to Wamberal beach and the lagoon. “We’ve saved the best for last. We knew people really needed to walk through and experience everything this penthouse and location has to offer; it is nothing short of spectacular. The Central Real Elysium architecturally designed, penthouse comes complete with secure six-car enclosed garage, private lift lobby and five bedrooms and media room, including smart home technology, butler’s pantry in the gourmet kitchen, solid oak flooring and corner gas fireplace, generous outdoor entertaining areas and floor to ceiling glass,” he said. For sales enquires contact 1300 923 975 for private viewing of the Elysium Penthouse and further details.

Picketts Valley enclave perfect for Sydney family

What happens when 8 bidders want the one property?

Picketts Valley, tiny rural enclave nestled between Terrigal and Avoca Beach is just the place if you want to live on a 1 hectare lot and be close to the beach. In December a Sydney family felt that way about a 345sqm, 4 bedroom home at 123 Picketts Valley Road, Picketts Valley and paid $2,065,000 for this unique property. The property was only on the market for a month and sold through agents Shaun Hudson-Smith and Georgia Holland from Ray White Terrigal. The last time it sold was in early 1999 for $890.000.

And the answer is that the price beats market expectations by 35%. Early December 2019 saw a 1.7 hectare (4.1 acres) vacant rural property sell at auction for $1.63 million. The north facing rural lot at 563b The Entrance Road, Erina Heights saw eight registered bidders frantically out bidding each other with a Central Coast family out bidding the rest. Auctioneer Rod Amos from Ray White Terrigal said that seven of the bidders were locals. The property was sold on behalf of the NSW Government who had originally acquired it for the realignment of The Entrance Road. CENTRAL COAST BUSINESS REVIEW FEBRUARY 2020

BUSINESS TIPS

MIND YOUR BUSINESS

By Troy Marchant, Director, Adviceco Chartered Accountants

Accounting and Tax Trends in 2020 2019 WAS A challenging year for small business. And 2020 has gotten off to a smoky start. It’s more important than ever for us to work smarter and to take action for the health and wellbeing of small business. Here is my forecast of the main accounting and tax trends we should either embrace or prepare for this year: ACCOUNTING

• B anks are partnering with accounting software providers, such as the NAB and Xero, to pilot automated invoice management programs. • Data interpretation and technology are increasingly relied upon for consumer and business information and verification. Without it, in today’s world, you are being left behind. Lending • Government is considering (at the time of writing) support for small businesses affected by natural disaster such as the recent and ongoing bushfires in the form of grants, low interest loans or grace periods. Payment days • There’s pressure on businesses to cut payment times to suppliers and therefore pass on cashflow relief. The State Government has recently announced a reduction of their payment days to suppliers from 20 to 5 days. We need to see more of this.

Automation • Accounting software programs are integrating automatic accounts payable and receivable data management solutions. Xero is kicking this off in March with Hubdoc.

TAX Audit • Increased audit activity from government regulators is only set to increase. Impeccable record keeping via digital means is really the only way to go. Instant Asset Write-Off for Small Business • Tax relief for small business in the form of the $30,000 instant asset write-off may have a shelf-life of 30 June 2020. There is nothing in writing to suggest this is guaranteed beyond that date. If this figure is adjusted in the new financial year, it will come as an unwelcome surprise to small businesses. Ensure you are prepared with your accountant, and have your options plotted on the most advantageous calendar possible. Capital Gains Tax for Expats • Those who have lived and worked overseas since 9 May 2017 will now be subject to Capital Gains Tax.

Troy Marchant is hosting a free business seminar on improving cashflow, profit and time in business. 26 February, 5.30pm in Gosford. Visit www.adviceco.com.au for more information.

Salaried employees and a new level of compliance • • • • •

By Warwick Ryan, Partner, Hicksons Lawyers IF YOU THOUGHT that by putting your employee on a salary – even a generous one – you dodged compliance with tedious awards – well all that is about to change. From the 1st March 2020, many employers who pay employees annualised salaries covered by a Modern Award face a raft of additional compliance measures. Who is impacted? Employers with employees covered by select Modern Awards that include: • Clerks – Private sector Award 2010 • Contact Call Centres Award 2010

Health Professionals Award 2010 Horticulture Award 2010 Hospitality industry Award Legal services Award 2010 Manufacturing and Associated Industries and Occupations Award 2010 • Pharmacy Industry Award 2010 • Restaurant Industry Award 2010 • Banking and Finance and Insurance Award 2010 See below for a more complete list.* What are the Changes Existing employee’s There are a number of changes which have occurred to the awards and each award does have a slightly different change. Some of the key requirements common to all the named awards is the requirement of the employer to advise the employee in writing of the following: • How the employer calculated the employees annualised wage, including how penalty rates and overtime are calculated and applied; • The outer limit number of ordinary hours an employee is required to work before

penalty rates apply; • The outer limit number of overtime hours an employee is required to work before being entitled to an excess payment on the annualised salary; • Any other excess hours not covered by the annualised wage for which provision of the award would apply. New Employees Any new employee will need to be onboarded and provided with documentation detailing the calculations and outer limits noted above. Time recording The employer is now required to maintain records of their employee’s hours of work, specifically start, finish and break (paid and unpaid) times. The key change to time recording is that it must be signed or acknowledge by the employee as correct. Annual reviews In addition to the initial written advice, CONTINUED ON PAGE 21

CENTRAL COAST BUSINESS REVIEW FEBRUARY 2020

BUSINESS FINANCE

Why every real estate agent should have a reputable broker on speed dial

By By Phil Jenkins Director, Balmain

Background: Self-employed couple were seeking to relocate their existing business into larger premises and they were exploring the idea of purchasing those premises to take advantage of the current low interest rate environment. Their business was expanding rapidly, and profits were being eaten up by an increasing debtors ledger and increased stock holding. So available cash contribution was – not much. Owned their home valued at $1m with a home loan of approx. $500k. Purpose: They had been speaking with various real estate agents and an industrial building to meet their basic requirements was going to cost at least $1m. The couple did find a suitable property that went close to meeting their requirements, however following discussions with their bank, St George, were told that their business financials and personal taxable

incomes would not support the level of borrowings required. So they rang their agent and said they were not proceeding with the planned purchase. The agent suggested that they get a second opinion in relation to finance and were referred to Balmain. Strategy: We met with the couple, assessed their financial position and business growth and performance and came up with a strategy to meet their requirements. They were told that the first stage would take around 6 weeks to complete before we could commence the second stage which might take a further 3-4 weeks before they would be in a position to exchange on the industrial purchase. But it was do-able. The agent was advised of the plan and was happy to negotiate extended terms with the vendor. This required a two-step process. Firstly the home loan had to be increased from $500k to $800k releasing $300k in cash. This loan needed to be approved and settled with the cash in their bank account before we could proceed with the second stage which was the industrial unit purchase. This $300k in cash was the required equity towards a 70% loan on the Industrial factory. With the assistance of the couples Accountant we prepared a loan submission seeking $700k loan for the factory. Outcome: Stage one resulted in a loan against their home of $800k – a 30 year home loan with a variable rate of 4.62% and P&I repayments

Stage two resulted in a business loan of $700k – 25 years P&I at a rate of 6.50% From start to finish it took almost 4 months to finally settle the industrial purchase. But a great outcome which simply came from the agent suggesting they get a second opinion. Written, planned, implemented and settled by Phil Jenkins

Salaried employees and a new level of compliance CONTINUED FROM PAGE 20

every year employers impacted by these changes must reconcile their salaried employees’ annualised salaries to ensure that the employee is better off under the annualised salary, compared with benefits paid under the relevant Modern Award. Note, any shortfalls are required to be remedied within 14 days. What happens if I am not compliant by 1 March 2020? A failure to comply will be considered a breach of a modern award and will attract civil penalties under the Fair Work Act 2009 (cth) of up to $63,000 per breach. The cost of getting this wrong can be considerable. The initial step is to clarify whether these changes impact on your business and I can assist you with this. * https://www.fwc.gov.au/documents/sites/

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CENTRAL COAST BUSINESS REVIEW FEBRUARY 2020

FUNNY BUSINESS

A BIOLOGY TEACHER wished to demonstrate to his students the harmful effects of alcohol on living organisms. For his experiment, he showed them a beaker with pond water in which there was a thriving civilization of worms. When he added some alcohol into the beaker the worms doubled-up and died. “Now,” he said, “what do you learn from this?” An eager student gave his answer. “Well the answer is obvious,” he said “if you drink alcohol, you’ll never have worms.” Interviewer to Job Applicant: Do you think you could come up with any reason you want this job other than your parents want you out of their house? A young executive was leaving the office late one evening, when he finds the CEO standing in front of a shredder with a piece of paper in his hand. “Listen,” said the CEO, “this is a very sensitive and important document here, and my secretary has gone for the night. Can you make this thing work for me?” “Certainly,” the young executive says. He turns the machine on, inserts the paper, and presses the start button. “Excellent, excellent!” says the CEO as his paper disappeared inside the machine. “I just need one copy.” A man being mugged by two thugs put up a tremendous fight! Finally, the thugs subdued him and took his wallet. Upon finding only two dollars in the wal-

let, the surprised thug said, “Why did you put up such a fight?” To which the man promptly replied, “I was afraid that you would find the $200 hidden in my shoe!”

the drawer and reads the following message: “Debits in the column toward’ the file cabinet. Credits in the column toward the window.”

Two accountants are in a bank, when armed robbers burst in. While several of the robbers take the money from the tellers, others line the customers, including the accountants, up against a wall, and proceed to take their wallets, watches, etc. While this is going on accountant number one jams something in accountant number two’s hand. Without looking down, accountant number two whispers, “What is this?” to which accountant number one replies, “it’s that $50 I owe you.” A young accountant spends a week at his new office with the retiring accountant he is replacing. Each and every morning as the more experienced accountant begins the day, he opens his desk drawer, takes out a worn envelope, removes a yellowing sheet of paper, reads it, nods his head, looks around the room with renewed vigour, returns the envelope to the drawer, and then begins his day’s work. After he retires, the new accountant can hardly wait to read for himself the message contained in the envelope in the drawer, particularly since he feels so inadequate in replacing the far wiser and more highly esteemed accountant. Surely, he thinks to himself, it must contain the great secret to his success, a wondrous treasure of inspiration and motivation. His fingers tremble anxiously as he removes the mysterious envelope from

A very sick business owner was discussing with his lawyer a final draft of his last will and testament. “Well,” as he was discussing with his lawyer, “I want to put in a clause for my employees. To those that have worked for me for 20 years or longer I want to give and bequeath the amount of $50,000.” His Lawyer reminded him that he has not been in business 20 years. The business owner replied, “I know, but it’s going to be great advertising!” An American enters a Swiss bank with a giant, heavy sack in each of his hands. He goes to the teller, brings his face close to the glass and whispers, “I have two million dollars with me. I urgently need to open a secret Swiss bank account!” The Swiss bank teller replies in a normal volume, “Sir, there’s no need to whisper. Poverty is nothing to be ashamed of in Switzerland.”

Quote of the month “I hire people brighter than me and then I get out of their way.”

Lee Iacocca

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CENTRAL COAST BUSINESS REVIEW FEBRUARY 2020

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