INFO
Page 2
24 November 2021 COAST COMMUNITY CHRONICLE - WWW.COASTCOMMUNITYNEWS.COM.AU
CHANCE TO WIN!
Coast Community Chronicle would like to offer fifteen lucky reader the chance to win a digital pass to watch the film THE LAST CHAMPION. Starring Cole Hauser from ‘Yellowstone,’ THE LAST CHAMPION is a gentle, slowburn sports drama about
friendship, love, and redemption. John Wright, a former championship wrestler and promising Olympian, is forced to face his past when he returns to the hometown he left in disgrace twenty years earlier. Can he become the hero his town expected... or will he remain a prisoner of
Coast Community Chronicle is published weekly on a Wednesday by Central Coast Newspapers Pty Ltd (CCN), a local, family-owned business.
his past mistakes? For your chance to win, write your full name, address, email and daytime telephone number on the back of an envelope and mail it to Coast Community Chronicle The Last Champion Competition, PO Box 1056, Gosford 2250, before 5pm on Dec 6.
DO YOU WANT TO SEND US A STORY?
themselves the veracity of what they are reading. Each paper focuses specifically on an area bound by postcodes as follows: Coast Community Pelican Post - Post Codes 2256 and 2257; Coast Community News - Post Codes 2250, 2251, 2260; and Coast Community Chronicle Post Codes 2258, 2259, 2261, 2262 and 2263. Coverage takes in the entire ward of Budgewoi and major parts of The Entrance and Wyong Central Coast Council Wards. It also takes in the entire State seat of Wyong, and parts of the State seats of The Entrance and Swansea, and most of the Federal seat of Dobell and part of Shortland. For all other information, please visit our website or call us on (02) 4325 7369 or call in and see us at Suite 1, Level 2, 86 Mann St, Gosford.
Ross Barry, Publisher
DO YOU WANT TO ADVERTISE?
Letters to the Editor will generally be published in their original but possibly edited form, while other published material sent to us may vary from its original form. Material that is offensive, defamatory or overtly political will not be published. We may publish promotional information based on our assessment of the level of genuine news content, and any material used which is clearly advertorial in nature, will be marked as such.
Next Edition: Coast Community Chronicle 267
fear or prejudice; 2. To provide an affordable medium for local businesses to advertise their products and services, including discounted rates for eligible not-for-profit organisations; and, 3. To keep the community informed about local issues and ensure that important public notices are available to ALL members of the community irrespective of their socioeconomic circumstances. Our content is originated through both our own team of local journalists as well as external sources, including media releases, websites and public notices. All of our news content is subject to strict editorial standards – see www. coastcommunitynews.com.au/ aboutus/editorialstandards Wherever possible, our news includes source lines that provide information about where information was sourced so that readers can judge for
CCN publishes three local, independent newspapers – Coast Community News, the Coast Community Pelican Post and the Coast Community Chronicle – distributed via more than 450 distribution points right across the Central Coast. Most of our stories, as well as our digital programs such as “Friday 5@5”, can be viewed online at www. coastcommunitynews.com.au together with a flip book for every paper shown in full. CCN aims to serve the interests of the community in three important ways: 1. To serve the ultimate purpose of the free press in a democracy, that is, to hold powerful interests to account through high-quality, independent journalism without
Prize winners may be required to pick up their prize from our Gosford office. Entries may be passed on to prize providers for marketing purposes.
CCN welcomes contributions from all members of the community, including citizen reports, media releases and letters to the Editor. All contributions should be emailed to editorial@centralcoastnews.net CCN reserves the right to use, or not use, any material sent to us in our publications and to validate, amend, update, expand or reduce information at our sole discretion and in accordance with our editorial standards.
ABOUT US
CCN
All requests for advertising should be directed to manager@centralcoastnews.net. Advertising rates are impacted by three key things: – the size of the advertisement, e.g. a half-page or a one-quarter page; the number of editions that the advertisement runs; and the number of newspapers (one, two or three) in which the advertisement is run. CCN offers significant discounts for advertisements that run over multiple editions and across multiple newspapers – see www.coastcommunitynews.com.au/aboutus/
advertisingrates We also offer discounts for not-for-profit organisations and other community groups. Advertisers are invited to talk to us about becoming a DIGITAL PARTNER, which provides exclusive opportunities to promote your product, services or events on our digital platform as well. If you would like to be a DIGITAL PARTNER please call us on 0428 138 109 or email us at keeper@centralcoastnews.net
Deadline: November 29 Publication date: December 1
Coast Community Chronicle covers: Alison, Bateau Bay, Berkeley Vale, Blue Bay, Blue Haven, Budgewoi, Budgewoi Peninsula, Buff Point, Bushells Ridge, Canton Beach, Cedar Brush Creek, Chain Valley Bay, Charmhaven, Chittaway Bay, Chittaway Point, Colongra, Crangan Bay, Dooralong, Doyalson, Doyalson North, Durren Durren, Fountaindale, Frazer Park, Freemans, Glenning Valley, Gorokan, Gwandalan, Halekulani, Halloran, Hamlyn Terrace, Jilliby, Kangy Angy, Kanwal, Kiar, Killarney Vale, Kingfisher Shores, Lake Haven, Lake Munmorah, Lemon Tree, Little Jilliby, Long Jetty, Magenta, Mannering Park, Mardi, Moonee, Norah Head, Noraville, Ourimbah, Palmdale, Palmgrove, Point Wolstoncroft, Ravensdale, Rocky Point, San Remo, Shelly Beach, Summerland Point, Tacoma, Tacoma South, The Entrance, The Entrance North, Toowoon Bay, Toukley, Tuggerah, Tuggerawong, Tumbi Umbi, Wadalba, Wallarah, Warnervale, Watanobbi, Woongarrah, Wybung, Wyee, Wyee Point, Wyong, Wyong Creek, Wyongah, Yarramalong
Publisher: Ross Barry - CEO: Cec Bucello - Editor: Jackie Pearson - Design & Production: Justin Stanley, Lucillia Eljuga Journalists: Sue Murray, Harry Mulholland, Terry Collins, Maisy Rae, Skaie Hull, Merilyn Vale, Hayley McMahon, Haakon Barry, Cleo Glyde Head of Distribution: Anthony Wagstaff ISSN 1839-9045 - Print Post Approved - PP100001843 - Printed by Spotpress Marrickville Voice of the Peninsula
Voice of the Peninsula 12 NOVEMBER 2021
11 NOVEMBER 2021
ISSUE 035
REAL INDEPENDENT LOCAL WEEKLY NEWS
News
Local kids star in Ettalong film
ISSUE 318
News
Lest we forget
At 11am on November 11, thousands of people all over the Central Coast paused to observe one minute’s silence in honour of Remembrance Day, as RSL SubBranches throughout the region conducted memorial services.
Education
See page 14
The social and affordable housing project at 1 Waratah Ave will offer women who are 55 and over, and their families, to rent one of the units. The $1.6M development, which was funded through the NSW Government’s Community Housing Innovation Fund, will be delivered by local housing provider Pacific Link Housing and is expected to be complete before Christmas. Tenants have already been lined up for three of the units. CEO of Pacific Link Housing,
CCN
Ian Lynch, said the development would help create safe and secure properties for the cohort of vulnerable older women. “Due to this funding from the NSW Government, we’re able to allocate six of the 12 units to house people who are eligible
for social housing,” Lynch said. “We will be achieving a mixed tenancy outcome with the remaining six units to be affordable and private housing. “Those units will also be available to elderly couples, but
our main focus is on women.” Lynch said the project would assist the housing provider to better utilise its range of properties as part of a consistent effort to “maximise utilisation of limited social housing stock to its full potential”. “In the first instance, Pacific Link Housing will be getting in touch with older single women who are living in existing Pacific Link Housing managed social housing, to offer them the units,” Lynch said. “These are women who may be in one of our larger properties, but are now underutilising the property, for example, due to their kids having now moved out.
“Our intent is to then offer them one of these brand new, safe and secure, one bed apartments, which will be easier to manage, allowing tenants to age in-place … we can then re-offer that threebed home to a family on the waiting list, who would better utilise it. “We are thrilled to have identified an older woman in social housing who now has the capacity to move into one of the private rentals. “The portion of affordable and market-rate rentals will be managed by our social enterprise real estate agency Key2 Realty.” Continued page 4
Business
November is a bumper month for community and sustainability on the Coast, with Central Coast Council celebrating National Recycling Week. See page 5
Out&About
Business
See page 17
Work has commenced on the proposed new beer garden and entertainment area at Ettalong Bowling Club. See page 21
Sport
Peninsula children who play football will have an opportunity to attend upcoming games between the Matildas and world number one team, the United States, with $5 tickets going on sale. See page 29
Puzzles page 18
spiritsuper.com.au Advice on Spirit Super is provided by Quadrant First Pty Ltd (ABN 78 102 167 877, AFSL 284443) and issuer is Motor Trades Association of Australia Superannuation Fund Pty Ltd (ABN 14 008 650 628, AFSL 238718), the trustee of Spirit Super (ABN 74 559 365 913). Read the PDS at spiritsuper.com.au before making a decision.
Central Coast Council can’t attract staff, can’t keep staff and can’t get meetings with the State Government. “It’s like nobody wants to know us.” Local politicians, the media and the community “are attacking the hell out of us”, “like a pack of wolves out there”. These were the observations of Council Administrator, Rik Hart, when he held a press conference on November 10 to respond to criticisms of the decisions made to get the Council back on a sound financial footing since the financial crisis. On October 6, 2020, the Council announced it faced
immediate and serious liquidity issues. In November 2020 Hart became acting CEO and since May this year he has been the Administrator. Hart explained the context that drove the decisions he and Interim Administrator Dick Persson made in the weeks and months after the Minister for Local Government suspended the Councillors on October 30, 2020. Hart said over the 12 months he had been at Council he had formed the view that the State Government did not fully understand the consequences of its initial decision to request that Council seek commercial loans to support the business.
“Our experience to date is that none of the state government agencies – Independent Pricing and Regulatory Tribunal (IPART), Department of Planning, Industry and Environment (DPIE), Office of Local Government (OLG) and NSW Audit Office had any experience in dealing with a local government entity being effectively placed into receivership and being required to seek commercial loans,” Hart said. He pointed out the difficulty Council had in dealing with the agencies with no coordination between them and with each of them following their own policy agenda and setting. He said the Council had been
treated like a “piece of carrion sitting there with hyenas pulling them one way and vultures attacking”. He said the State Government kept them at arms length while the Council had to dance to a commercial bank’s tune to secure two loans totalling $150M. The banks actually demanded hard assets rather than future cash from rates as surety for the $100M loan the Council secured in late December, 2020 so some community assets were now mortgaged. Hart said he had tried for three days in December to make contact with the deputy secretary of the Office of Local Government to secure a
statement of support from the State Government to give to the commercial bank which was giving the loan. Eventually he phoned Minister for Planning and Public Spaces, Rob Stokes, and the letter came through at the 11th hour. “Without the statement of support from the NSW Government we would have had to close the doors of Central Coast Council, it was that dire,” Hart said. Further attempts to hold an urgent meeting this year with Minister for Customer Service, Victor Dominello, was declined and one with Greg Piper MP postponed. Continued page 4
The new look Hotel Gosford has reopened its doors after 18 months of renovation which included a complete knockdown and rebuild of its restaurant. See page 3
Sport
The 2021 52 Super Series has concluded off the coast of the Reial Club Nàutic de Palma (RCNP), Illes Balears, Spain… See page 39
Puzzles page 22
It all starts with spirit spiritsuper.com.au Advice on Spirit Super is provided by Quadrant First Pty Ltd (ABN 78 102 167 877, AFSL 284443) and issuer is Motor Trades Association of Australia Superannuation Fund Pty Ltd (ABN 14 008 650 628, AFSL 238718), the trustee of Spirit Super (ABN 74 559 365 913). Read the PDS at spiritsuper.com.au before making a decision.
coastcommunitynews.com.au - 4325 7369 - editorial@centralcoastnews.net
“It’s like nobody wants to know us.” Central Coast Council can’t attract staff, can’t keep staff and can’t get meetings with the State Government. “It’s like nobody wants to know us.” Local politicians, the media and the community “are attacking the hell out of us”, “like a pack of wolves out there”. These were the observations of Council Administrator, Rik Hart, when he held a press conference on November 10 to respond to criticisms of the
decisions made to get the Council back on a sound financial footing since the financial crisis. On October 6, 2020, the Council announced it faced immediate and serious liquidity issues. In November 2020 Hart became acting CEO and since May this year he has been the Administrator. Hart explained the context that drove the decisions he and Interim Administrator Dick Persson made in the weeks and months after the Minister
for Local Government suspended the Councillors on October 30, 2020. Hart said over the 12 months he had been at Council he had formed the view that the State Government did not fully understand the consequences of its initial decision to request that Council seek commercial loans to support the business. “Our experience to date is that none of the state government agencies – Independent Pricing and Regulatory Tribunal (IPART), Department of Planning, Industry and Environment
(DPIE), Office of Local Government (OLG) and NSW Audit Office had any experience in dealing with a local government entity being effectively placed into receivership and being required to seek commercial loans,” Hart said. He pointed out the difficulty Council had in dealing with the agencies with no coordination between them and with each of them following their own policy agenda and setting. He said the Council had been treated like a “piece of carrion sitting there with hyenas
pulling them one way and vultures attacking”. He said the State Government kept them at arms length while the Council had to dance to a commercial bank’s tune to secure two loans totalling $150M. The banks actually demanded hard assets rather than future cash from rates as surety for the $100M loan the Council secured in late December, 2020 so some community assets were now mortgaged. Continued page 4
Two Central Coast Businesses – Fruit For All in Berkeley Vale and S&P Dominello Flower Growers in Peats Ridge – have won 2021 Fresh Awards from Sydney Markets Limited. See page 24
Sport
The Central Coast Mariners have made it through to the final 16 in the FFA Cup by securing a win against Blacktown City FC in the Round of 32 elimination match. See page 32
Puzzles page 19
It all starts with spirit spiritsuper.com.au Advice on Spirit Super is provided by Quadrant First Pty Ltd (ABN 78 102 167 877, AFSL 284443) and issuer is Motor Trades Association of Australia Superannuation Fund Pty Ltd (ABN 14 008 650 628, AFSL 238718), the trustee of Spirit Super (ABN 74 559 365 913). Read the PDS at spiritsuper.com.au before making a decision.
coastcommunitynews.com.au - 4325 7369 - editorial@centralcoastnews.net
Pub baron turns first sod on Umina retail development
Owner and millionaire pub baron, Arthur Laundy, was surrounded by his family to help turn the first sod on the Lone Pine Plaza on Monday, November 15. With champagne corks popping and the sound of the screw pile drilling into soil, around 20 residents were present to see construction officially begin on the old Umina Mall site in Ocean Beach Rd. The redevelopment, which will be built in four quadrants, will feature 12 speciality retailers including a supermarket, commercial offices, a bottle shop, a medical centre and pharmacy. It is expected to open to the public towards the end of 2022. The plaza will host two anchor tenants –IGA and Celebrations – and will also house a café facing on to Ocean Beach Rd. Laundy said it was a project he felt was “absolutely necessary for the area. “This has been a 10-year project … it’s incredible it’s finally
happening,” Laundy said. “I think if you consider the building I bought 20 odd years ago, and the building we are constructing now ... I think any person that could become a tenant now would have to be proud of the situation. “The convenience of this shopping centre will be an absolute winner. “I do believe we are going to give this area something to be proud of.” Initially approved 10 years ago, with modifications approved in 2015, the development stalled for several years as negotiations continued on the purchase of two lanes behind the site. Laundy said the redevelopment had been a long time coming. “First there was an argument about – I owned land each side of a little, tiny Council lane – and the Council were quite happy for me to do the rebuild as at that stage it hadn’t been burnt down,” he said. “But where the problem lay was the valuations. “We had two valuations – I had an independent valuer and the Council had one – my valuation was around the $400,000 and
add additional spots to help the community be able to service easily in and out. “We have seen this all the way through COVID … those retail malls which are on-grade and easily accessible … you’re in, you’re out, it’s easy.” There will be multiple access points to the centre along with plans to install an ambulance bay alongside the medical centre. Peninsula Chamber of Commerce President, Matthew Wales, said the development indicates confidence in the local business community. “It’s a significant development that is certainly going to change the way local residents do their shopping and it’s been a long time coming,” Wales said. “We are really glad that Arthur has broken the ground finally after years and years …the important thing is it’s a show of confidence in our local business leaders and developers. “It will improve the retail mix on the Peninsula so there are options for people, and with the state-ofthe-art IGA, it’s going to make a big difference for residents. “Arthur Laundy and the Laundy Group have got a big stake in the
Peninsula now with some other recent purchases.” Member for Gosford, Liesl Tesch, said she hoped the shopping centre would help provide competitive business rents in the area. “We appreciate your patience and the work you have done in the community and [for] people in affordable housing, to relocate them as best we can,”Tesch said. “[It’s] a fantastic outcome for our community but also something they have been looking forward to for a really long time. “Business rents are really high across the community so there’s quite a bit of competition … it’d be nice to see pressure put on other places to actually improve their quality, whilst this one’s going to be a really good location. “It’s close to so many houses and just a really easy-to-use facility. “And it’s only going to be one level which is also really important to our elderly community. “Thank you to the Laundy family for their commitment to this region for making this an even better place to live.”
Woy Woy’s Catherine Spalding will celebrate her 100th birthday in style this week and her family has helped take a look back over her extraordinary life. See page 13
Business
The Federal Government is supporting people across the Central Coast who experience homelessness with $945,000 in funding for the Health on the Streets (HoTS) program. See page 25
Sport
The World Surf League’s (WSL) 2022 competitive calendar for the Australian Summer-Autumn season will include 13 events between February and May, including the return of the Central Coast Pro from March 14-16. See page 32
Puzzles page 18
Maisy Rae
VILLAGE MAGAZINE – free in every issue. Our new colour magazine launches today, celebrating the people and places of the region we love.
coastcommunitynews.com.au - 4325 7369 - editorial@centralcoastnews.net
Edition 001
/ November 17
The Best of The
Beach, Bush
& Bay
24 NOVEMBER 2021
ISSUE 266
REAL INDEPENDENT LOCAL WEEKLY NEWS
Smoke on the water
The State Government will pay for the clearing of a privately-owned section of the Springfield Wetland, which has been a point of community contention for years. See page 10
Out&About
Out & About
theirs came in at about $920,000. “So, I said that was too big of a variation … they did theirs on squared meterage. “We had a lot of time wasted on that and we should have been well and truly opened by now. “There was a change of Council of course and all those things probably slowed it up a bit. “The Council I have been working with over the past 12 months have been very, very good … they’ve been trying to help me.” Construction started immediately after the groundbreaking ceremony on Monday, November 15, with local building company, Pluim Group, on board for the 10-month project. Director of the Pluim Group, Scott Alan, said construction would generate around 500 local jobs. He said traffic management systems such as a pedestrian crossing and bus bay would remain to help control traffic flow on the main road. “It’s really exciting for us to be involved,” Alan said. “There will be103 car spots as part of the updated approval to
The Best of The Beach, Bush & Bay
Copa’s colourful Remembrance Day
The Umina Beach Men’s Shed will once again hold its popular garage shed sale on Saturday, November 27 to help raise funds for the association. See page 3
Arthur Laundy broke ground on Monday, climbing aboard the excavator
Work has finally commenced on a $10M shopping centre in Umina almost three years after the site was gutted by fire.
ISSUE 319
News
ISSUE 036
REAL INDEPENDENT LOCAL WEEKLY NEWS
News
Community events and festivals are back on the social calendar following the lifting of COVID restrictions and Central Coast Council is lending a helping hand with almost $300,000 in funding. See page 15
The Central Coast Drone Flyers, an avid group of drone photographers, are launching an exhibition at The Entrance Gallery to showcase their aerial photographs.
18 NOVEMBER 2021
News
Hart takes aim at government agencies in reply to Public Inquiry
It all starts with spirit coastcommunitynews.com.au - 4325 7369 - editorial@centralcoastnews.net
Lisarow mother and daughter, Bronwyn and Ella Sandeman, have published and released their book The Christmas Story with Daisy and Ziggy. See page 18
See page 3
New social housing project for vulnerable women A new social housing development in Woy Woy will make it easier for older women at risk of homelessness to access secure housing.
Drone artistry on display
Out&About
Out & About
A local art teacher has helped bring watercolour to the Woy Woy Waterfront with the launch of a new picnic-based painting session last Saturday. See page 13
ISSUE 265
REAL INDEPENDENT LOCAL WEEKLY NEWS
Memorial Park at The Entrance was a sea of workers and community supporters who donned white shirts and rallied to oppose the NSW Government vaccination mandate. See page 8
The Country Women’s Association Umina Beach branch delivered a package of sleeping bags and swags to Mary Mac’s Place to support those in need. See page 3
It’s almost a wrap on the set of a new adventure film shot in Ettalong and to be premiered at Cinema Paradiso next February.
19 NOVEMBER 2021 17 NOVEMBER 2021
At 11am on November 11, the Copacabana community paused for a minute’s silence to mark 76 years since the guns fell silent at the end of WW11 and 103 years since the end of WW1.
The Federal Government’s promise of more charging stations for electric vehicles (EVs) cannot come soon enough... See page 18
See page 5
Business
Minister stands by ‘open and transparent’ response to Council crisis Several submissions to the Public Inquiry into Central Coast Council have asked why Local Government Minister, Shelley Hancock, never delivered on the assistance she promised the day the Council realised it faced immediate and serious liquidity issues in October 2020. But the Office of Local Government (OLG) told Coast News this week that it stands by its “swift and decisive action in response to the crisis”. On October 6, 2020, Minister Hancock instructed the OLG to appoint an independent financial expert and a Human Resources (HR) adviser to ascertain Council’s true financial position and to identify
options to address the issues as quickly as possible. The two experts never arrived. On October 12, the Councillors agreed to ask the Minister for permission to use restricted funds to maintain Council’s cash flow. It reckoned it needed up to $60M to cover costs while the 100-day recovery plan did its work. Council had more than $360M in restricted funds that were invested but only the Minister could approve spending it for unrestricted purposes. The Councillors also asked the Minister for confirmation on the timing and scope for the arrival of the financial and HR experts. Three Liberal councillors –
Jilly Pilon, Troy Marquart, and Rebecca Gale – and two independents – Greg Best and Bruce McLachlan – voted against these decisions. Their own notice of motion later in the meeting, which eventually was also adopted, asked for the OLG, the Audit Office and the Minister to step in and assist Council. Member for Terrigal, Adam Crouch, issued a press release on October 14 saying the State Government would not bail out the Council. “I have spoken extensively with the Minister for Local Government and the Government will not be strongarmed into taking responsibility for Central Coast Council’s failings – there will be no state
funding or legislative exemptions,” he said. He said the OLG had written to Council’s Audit, Risk and Improvement Committee’s (ARIC’s) independent chairperson, Col Gellatly to request that he play a key role in advising Councillors. On October 19, the Councillors unanimously adopted their 100-day plan. On the same day Mayor, Lisa Matthews, requested an urgent meeting with the Minister. She received no response. On October 20, the Councillors met again and resolved to make “urgent representations” to the Minister seeking permission to use restricted funds to pay staff for the week saying that “should the
The Entrance MP, David Mehan, has welcomed the release of the overdue updated Central Coast Local Flood Plan but said it still fell short... See page 5
Out&About
Coast Opera Australia has partnered with Central Coast Stadium to present A Night of Enticement Under the Stars on December 4... See page 13
Huge thick plumes of smoke filled the air from South Tacoma to the sea and householders were forced to close windows and doors as large clumps of ash fell in Blue Bay on the afternoon of Friday, November 19.
Business
See page 11
Peppercorn rent delivers $3M bounty for training group
Minister’s permission not be forthcoming, 2,157 Council staff may not be paid”. On October 21, the Mayor again requested a meeting with the Minister. Again she got no response. The Minister issued a press release on that day which said the local community was sick of excuses from Council. “In the two weeks since Council’s financial dire straits came to light, all Council has done is write letters, issue media releases and set up a finance committee,” she said. “To use its own staff as bargaining chips is reprehensible from a governing body that has failed to address its own financial failings. Continued page 4
More than 50 business leaders from all over the Central Coast heard about new trade opportunities opening up... See page 25
IN THIS EDITION Edition 001 / November 17
The Best of The Beach, Bush & Bay
VILLAGE MAGAZINE Free in every issue. Our new colour magazine launches today, celebrating the people and places of the region we love.
Puzzles page 22
Crystal, Gems, Jewellery & Craft Festival
19-21 November - Gosford Showground
• Crystals • Gems • Jewellery • Fossils • Rocks • Minerals • Australian Geology • Opals • Beads and Metorites Adults $10.00 - Under 12 free - Friday 12pm-5pm Saturday 9am-5pm Sunday 9am-4pm
Crystal Festivals Australia - crystalfestivalsaustralia@gmail.com - Phone: 0405 904 881
Office: Level 1.01/86-88 Mann Street Gosford Phone: 4325 7369 - Mail: PO Box 1056, Gosford 2250 E-mail: editorial@centralcoastnews.net - Website: www.coastcommunitynews.com.au
News
A 3,622 square metre property at 3 Bounty Close, Tuggerah, has been sold by Central Coast Council to its current tenant, Central Coast Group Training (CCGT) Limited, for $652,088. The value of the property if it was assessed as having ‘vacant possession’ would be about $3.7M – more than five times the actual sale price. CCGT owned the 3 Bounty Close land which it transferred to Wyong Council in 2013 to secure a Commonwealth Government grant to construct the building it has now purchased back from Central Coast Council. CCGT entered into a lease with Wyong Council which carried over to Central Coast Council which enabled it to pay
a peppercorn rent of $120 a year plus CPI increases with a lease until 2054 and two additional five year lease options. It also had an option to buy back the land after February 1, 2020. During the sale process, valuers estimated a fair market rent on the property would be $175 per square metre net per annum or about $245,000 a year. It said in a swot analysis that the buyer profile included the “sitting tenant purchaser” enabling the current lease agreement to be extinguished to maximise the capital value of the property or an entrepreneurial investor realising the asset’ value in 2054. The CCGT facility at 3 Bounty Close was built using a
Commonwealth Government Community Development Grant via the former Wyong Shire Council. The recent sale of the Tuggerah building to CCGT came to light when it appeared on a list of properties sold as part of Council’s asset sale program, reported in the agenda for the November 23 Council meeting. Council said the sale was related to an agreement resolved by the former Wyong Council. “The lessee of 3 Bounty Close, Tuggerah exercised its option to purchase the land and Council sold this property in line with a market valuation,” the staff report said. The settlement date was listed as June; the valuation price was $652,088; and the property changed hands
at that price. The valuation report was dated February 3, 2020. A letter of instruction from Greg Best, General Manager of CCGT and suspended Central Coast Councillor, said: “Given the 40-year lease at peppercorn rent the Lessee expects the valuation to be nominal, however, it is bound by the terms of the option to purchase at valuation”. The valuation report prepared by Knight Frank explained that “the current lease reflects a ‘peppercorn rent’ currently at $130 per annum net”. “We have chosen to value the property as at the date of valuation taking in to account the Peppercorn Lease Agreement in place,” the Knight Frank valuation said. “The valuation herein reflects
the passing rental until the end of Term Certain, i.e. 2054 and the terminal value of the property at that point. “We note the tenant has rights of occupation for a further 2 x 5 years, as per the lease. “Exercising these options would significantly impact on the value assessed herein by extending the terminal value assessment of the property for a further 10 years until 2064. “The value of the property with Vacant Possession has been assessed at $3.7m and this is the assessment we would be adopting for a mortgage valuation under similar circumstances, i.e. where the sitting tenant is buying the property from the landlord.
Almost $7.8M has gone into Central Coast Council coffers from the sale of eight properties in the northern suburbs, to help with its financial recovery. See page 23
Sport
A wet, cold and windy Sunday afternoon in Newcastle reaped A-League opening match dividends for the travelling Central Coast Mariners, starting off their season with a 2-1 win. See page 32
Continued page 4
Puzzles page 19
It all starts with spirit spiritsuper.com.au Advice on Spirit Super is provided by Quadrant First Pty Ltd (ABN 78 102 167 877, AFSL 284443) and issuer is Motor Trades Association of Australia Superannuation Fund Pty Ltd (ABN 14 008 650 628, AFSL 238718), the trustee of Spirit Super (ABN 74 559 365 913). Read the PDS at spiritsuper.com.au before making a decision.
coastcommunitynews.com.au - 4325 7369 - editorial@centralcoastnews.net
/centralcoastnewspapers
/CoastNewspapers
2021 OFFICIAL