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Max Stern ends up on Collins Street after being bumped by metro works

13/03/2019

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MARKET WRAP
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SALES

Richmond

Backpacker haunt Honiton Flats on busy Hoddle Street has sold for $2.3 million on a yield of 5.3 per cent. The two-level brick property is leased to Landing Pads on a five-year term with two five-year options until 2029. Rick Silberman, Raoul Holderhead and MingXuan LI from Burgess Rawson handled the sale.

Richmond

An owner-occupier has paid $1.255 million for a retail/showroom at 221 Swan Street. Teska Carson’s Tom Maule and Larry Takis negotiated the sale. Mr Takis said properties with development potential in Richmond were keenly sought after and continued to attract a strong field of buyers.

Sandringham

An investor has paid $815,000 on a 4.7 per cent yield for a strata shop at 1/36 Station Street as demand for strata investments continues to rise. Teska Carson’s George Takis and Luke Bisset said small investors were seeking well-located assets in strong retail precincts. The shop sold with a lease to Low Development Group returning $38,935 per annum.

Moorabbin

A small warehouse at 8/94-102 Keys Road has changed hands for $570,000 on a 4.2 per cent yield, Ray White Commercial Oakleigh’s Ryan Amler and Joshua Colosimo said. “There is still very strong demand for these types of investments from self managed super funds,” Mr Amler said.

Campbellfield

Any Steel Fabrication will relocate to an office warehouse at 67 Capital Link Drive after purchasing the site for $2.3million. The 2793sq m block has a two-storey office and high clearance warehouse currently occupied by Fleet Trades, with a lease until the end of November. CBRE’s Amanda Traficante, Oliver Gualano and Daniel Eramo negotiated the deal.

Sunshine

Across town, another similar roller door lock-up style warehouse at 16 Bolitho Street was sold by Leo Mancino of CVA for $460,000. The property was purchased by an owner occupier.

Ringwood East

Suburban development sites are attracting strong bids. A local developer has paid $2.35 million for 30 and 32 Grey Street, a 1677sq m site occupied by two family homes. Bridport Property Group won the second-round tender and plan to redevelop the site for childcare, Knight Frank’s Andrew Greenway and Tim Grant said.

Dandenong South

An owner occupier has purchased a brand new 1387sq m office warehouse at 61 Babbage Drive. The owner is relocating from Moorabbin. Knight Frank’s George Linn brokered the sale for $2.25 million.

Braeside

A large, near-new warehouse with offices at 16 Capital Court was sold by David Garfield of Nixon Industrial for $1.4 million. The 827sq m building had a container management area, three-phase power, automatic roller door, partitioned offices, and a kitchenette. “There aren’t many warehouses of this size and quality in the area,” Mr Garfield said.

Woodstock

A farm called Spring Hill at 1425 Donnybrook Road was sold by Peter Lineham from Rodwells Ruralco Property. Set up as a 40-unit cow and calf operation, it was subdivided into 12 paddocks with two hay sheds, a workshop, horse shelters and a good set of spacious cattle yards with a crush and loading race. It sold by private sale to a cash buyer from the city for $2.85 million, about $355,000 over the listed price.

LEASES

Melbourne

Stamp, coin and currency merchants Max Stern have signed a lease over 341sq m at 271 Collins Street after being displaced by the Metro Rail project works. Fitzroys’ Jordan Ceppi negotiated the deal over the separate 237sq m 8B and 104sq m 9D spaces within the building at $90,000 per annum net and $65,000 per annum net respectively, both on 4 x 4 x 4 year leases. The business – named after its founder, the late Max Stern AM – was previously located within the Port Phillip Arcade.

Laverton North

Office furniture manufacturer Cubespace has taken a 5+5 year lease at 107 William Angliss Drive, agreeing to annual rental of about $300,000. Cubespace chose the high clearance 4116sq m office warehouse because of its large 4000sq m yard and power supply, Knight Frank’s Joel Davy and Tony Tripodi said.

Richmond

Cayzer Commercial’s Matt Crowhurst and James Keep have leased a warehouse at 451 Swan Street for $48,000 per annum on a 4×4 year lease to building company LocBuild. In another deal, the pair leased 206 Bay Street in Port Melbourne, a shop opposite Coles, to a homewares and gifts business for $50,000 a year on a 3x5x5 term.

North Melbourne

An industrial showroom at 11 Boundary Road has leased within a month of being on the market, CVA’s Leo Mancino and Anthony Carbone said. The property was leased to an electrical company for use as a workshop/warehouse for $60,000 per annum on a 5+5+5 year term.

Preston

An industrial complex at 73 Gower Street is now fully let after the remaining 3300sq m was leased for a net rental around $75 per sq m. Star Development International took 1500sq m while Doria Bros Transport committed to a 1750 sq m warehouse, Knight Frank’s Daniel De Sanctis and Scott Braithwaite said.

North Melbourne

After 12 years in their current location, Pack and Send has taken a long-term lease at 112 Ireland Street. Allard Shelton’s Martin Huang and Simon Southey negotiated the deal at $43,000 per annum, a rate of $398sq m on a 5×5 year lease.

MOVERS

Stephen Speck has joined Vinci Carbone as an Associate Director – Sales and Leasing as part of the ongoing expansion of the Melbourne agency.

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CostaFox has tower plans for Lorimer Street

13/03/2019

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Boutique developer CostaFox expects strong population growth to underpin a resurgence in Melbourne’s apartment market and has lodged plans for a 40-story residential tower in Docklands to take advantage.
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The development business, backed by Geelong’s wealthy Costa family and run by former Little Group executive Michael Fox, will add nearly 400 owner-occupier apartments at a time when others are backpedalling on projects.

New state taxes introduced in July and a federal government foreign ownership clampdown have slowed offshore investment in Melbourne’s new apartment sector, unsettling developers in a year when 16,700 units are set to be completed.

“Our plan is to sit on it and bring it out at the appropriate time in future. In 12 months time the market will be ready for more accommodation,” Mr Fox said.

The $300 million tower, foreshadowed in BusinessDay in August, has been designed by architects Rothe Lowman.

The bulk of the dark grey, sharply-angled structure will be made up of two-bedroom apartments that are designed to joined together if required in a bid to attract owner-occupiers.

Only 92 of the 396 apartments will be one-bedders. The others units will be made up of 260 two-bedroom, 40 three-bedroom and four four-bed apartments.

The tower will rise on a corner block at 111 Lorimer Street in Fisherman’s Bend purchased for about $15 million in a location immediately behind Mirvac’s low-rise Yarra’s Edge development.

Nearby, Shanghai-based developer Mid-Universe paid Paul Little’s Little Developments $60 million to buy 85-93 Lorimer Street with a permit for a twin towers project.

Mr Fox said the 111 Lorimer project was within easy walking distance across the Yarra River from the heart of the city’s Docklands financial centre.

The CostaFox development business was set up with the backing of Costa Asset Management, a diversified agricultural, equity and real estate business chaired by Robert Costa.

It has amassed a portfolio of five industrial and residential development sites for more than $60 million.

Gang Of Youths dominate ARIA nominations

13/03/2019

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HOT BAND: Newcastle’s Dom Borzestowski, far left, and his band Gang Of Youths received eight ARIA nominations on Tuesday.NEWCASTLE drummerDom Borzestowski could soon be adding “ARIA award-winner” to his list of accomplishments after Gang Of Youths dominatednominations on Tuesday.
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Gang Of Youths are in the running for eight ARIA awards for their second recordGo Farther In Lightness including the prestigious AlbumOf The Year andBest Group.

The five-piecewasalso nominated forBest Rock Album, Best Video, Best n Live Act, Producer Of The Year, Engineer Of The Year and Best Cover Art.

The ARIA awards will be announced at theStar Event Centre inSydneyonNovember 28 and broadcast on NBN.

It’s not the first time Gang Of Youths or the Borzestowski family have enjoyed ARIA nominations.

In 2015 Gang Of Youths received five nominations for their first album The Positions, but returned empty-handed.

Gang Of Youths – What Can I Do If The Fire Goes Out?Borzestowski’s older brotherSzymon, who died in 2012, also received a posthumous nomination that year in theBest Adult Contemporary Album category for his record Tigersapp.

It’s been a whirlwind couple of months for Gang Of Youths, who relocated to London from Sydney earlier this year to build their European fan base.

In AugustGo Farther In Lightness debuted at No.1 on the ARIA charts and Rolling Stone featured the band on their September cover.

“It’s one of those cool things you might dream of, but never expect will happen, so when we found out it was a thrill,”Borzestowski told the Newcastle Herald at the time.

Gang Of Youths’ star is expected to soar even higher after theircover of David Bowie’s classic Heroes was includedon the soundtrack of the upcoming DC Comics blockbuster Justice League.

Brisbane buyers out in force, drop $11.5 million in days

13/03/2019

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Hamptons goals: 63 Amy Street, Hawthorne.Spring selling season has well and truly arrived in Brisbane, with three properties totalling over $11.5 million changing hands within only a few days.
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Brisbane buyers were out in force last week, spending up big on sprawling family homes in time for Christmas and the New Year. The two top sales were negotiated by Sarah Hackett, director of Place Estate Agents.

The spending spree started with 63 Amy Street, Hawthorne, a luxurious Hamptons-inspired designed home worthy of any American dream, which smashed the street record when it was snapped up for $3,665,000.

Amy Street is set back two blocks from the river in Hawthorne’s sought-after avenues precinct. The five-bedroom, four-bathroom picture-perfect property featuring bespoke cabinetry, parquetry timber flooring and the Hampton’s signature light-filled interiors drew a buyer frenzy from families who fell in love with the design and location.

Only a few streets away, a majestic Queenslander at 57 Barton Road sold for $1.91 million. Set on 567 square metres of land, the house, which was also meticulously renovated in the Hamptons style, changed hands in a lightning-fast off-market deal brokered by Taylor Kleinberg and Luke Batchelor of Place Kangaroo Point.

Mr Batchelor said most of the buyers purchasing locally in Hawthorne were Sydney buyers. “I literally had one buyer come up to me clutching a print out of the most liveable suburbs in Brisbane that she’d found on the internet,” he said.

“The prices that people are paying for renovated properties here is phenomenal ??? we can’t keep up with demand at the moment, everything we list sells within two weeks or doesn’t make it to the market at all.”

The biggest sale in Brisbane last week was 34 Mullens Street, Hamilton, the iconic landmark hilltop property better known as “Cremorne”, which sold at auction last week for $5,975,000 to a young family moving to Brisbane from a rural area.

“Cremorne” was built by a publican in 1905, and was owned by his family until it was sold in 1998. It was designed by influential Queensland architects Eaton and Bates and is the only surviving example of their work in the state.

A jaw-dropping and award-winning renovation increased the floor plan to include five bedrooms, five bathrooms, and a host of stunning contemporary features.

Cremorne was bought in December 2015 by Fone Zone co-founder David McMahon and wife Tracey, who paid $6.62 million for it. But less than one year later they made plans to move to Aspen, Colorado for work. The couple now spend nine months of the year in the United States. Brisbane houses flat except for the top endThe Brisbane suburbs where no one leavesBrisbane couple’s heart-warming auction win

“The owners are extremely happy,” Ms Hackett said. “It’s a property that deserves love and care and needs a family to live in it and not sit vacant for nine months of the year.

Rugby League: NSW Country under 23s meet World Cup squads

13/03/2019

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HONOURS: Lakes back Kyle Kennedy will be one of nine Newcastle first graders representing NSW Country under 23s against World Cup sides Samoa and Scotland the next two Fridays. Picture: Jonathan CarrollKyle Kennedy has played alongside last year’s Newcastle Knights hooker Chris Adams and against the likes of former NRL trio Daniel Abraham, Brad Tighe and Dane Tilse.
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But the next two Friday nights hewill take his game to another level,squaring off with World Cup sides Samoa and Scotland.

The Lakes back will be one of nine Newcastle Rugby League players in the NSW Country under-23 squad lining up against more than 2000 combined NRL and English Super League matches.

“It gives them [under 23s] a great opportunity,” Country Rugby League chairman John Anderson said from the opening night of camp in Wagga Wagga on Tuesday.

“Playing against these types of teams there will be NRL clubs tuning in and at the ground to watch.”

Most of thattop-level experience comes fromSamoa, who the boys from the bush meet atWagga Wagga’s McDonald Park on Friday (7pm).

Outgoing Knights utility Peter Mata’utia, Canberracentre Joey Leilua, Raiders enforcer Josh Papalii, Parramatta forwardFrank Pritchard and Newcastle-bound prop Herman Ese’esewere all named for Samoa for the upcoming clash.

Country trains on Wednesday before both sides join for a civic reception at the Riverina city on Thursday.

Country then regroup in Sydney next Tuesday before flying to Ballina and meeting Scotland on October 20.

Scotland’s provisional squad included Cowboys grand finalists Lachlan Coote and Kane Linnett.

COUNTRY 23s:Jamie Ghoulmieh, Jacob Gagai,Kyle Kennedy (Lakes),Roman Fepulea’I, Jake Lawrence, Luke Higgins (South Newcastle),Jarrod Smith, Lincoln Smith (Maitland),SamKeenan (Western Suburbs).

From APS white elephant to elephant in the room

13/02/2019

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A white elephant was the elephant in the room when Finance Department secretary Rosemary Huxtable told public servants on Tuesday how the government has changed tack centralising back-end work in shared services hubs.
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The chief of the department leading the project to roll “backroom functions” into six “corporate services hubs” addressed the failures that hurt attempts by others to establish and move staff to shared services.

Referring to troubled efforts from other governments to make similar reforms as an “elephant in the room”, she said the Coalition’s push to roll corporate services into separate hubs involved risks.

Finance Department boss Rosemary Huxtable told public servants the government will move back-end work into six “corporate hubs” in stages.

However it would be necessary for agencies to make savings, be more effective and focus resources on other work.

“While they may not make the headlines, there are success stories,” she said, referring to the NSW and ACT governments’ use of shared services.

Also looming over her address to public servants and consultants, but not directly referred to, was the Coalition government’s abandonment this year of the Abbott-era “Shared Services Centre” white elephant after sinking more than $210 million into the failed project.

Hundreds of public servants working at the centre were quietly sent back to their departments or moved to the Finance Department, and the centre’s functions taken over the Employment and Education departments.

But the federal government still insists shared services can deliver big savings and is now pinning its hopes on the six “corporate service hubs” with an ambitious agenda to cover more than 140,000 public servants within four years.

Of 90 agencies marked to give back-end work to hubs, 17 employing 62,000 public servants have made the move and 13 covering another 3,000 staff have not chosen a hub or deferred the change.

Sixty agencies employing 59,000 staff are waiting to begin the transition.

Ms Huxtable said the government would play a “long-term game” in the program, learning from the mistakes of others who tried to move payroll and other services into hubs but rushed the transition after heeding overly optimistic businesses cases.

“We’ve learned through the experience of others to take a staged and gradual approach,” Ms Huxtable said.

She said insufficient upfront investment had harmed previous attempts by organisations to use shared services.

Cricket: Jason Sangha makes career-best score with Sydney first grade team Randwick-Petersham

13/02/2019

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JASONSangha will sit down for his first HSC examon Monday after posting a career-best score of 162 not out.
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Sangha, who turned 18 last month, produced the match-winning knock for Sydney first grade sideRandwick-Petersham and according to Cricket NSW records no younger person has scored more runs when making a debut century in the state capital’s top tier.

FORM: Randwick-Petersham’s Jason Sangha on his way to a career-best 162. Picture: Cricket NSW media

His previous highest total in that competition was 60 midway through last season.

Twice prior the former Wallsend batsman had reached 138 in Newcastle under-15 and under-16 representative fixtures.

But thislatesteffort surpassed all of thoseand Sangharated theunbeaten 235-ball milestone, which sawRandwick chase down Mosman’s 343 at Petersham Oval inSaturday’s second innings,alongside the rookietonhe madefor in an under-19one-day match against Pakistan in Dubai in January, 2016.

“It’s definitely up there,”Sangha told the Newcastle Herald.

“That one and and my hundred with the under 19s in Dubai are probably two of the main ones.

“But this one really means a lot. I first started playing cricket for Randwick juniorsand made some really close friendships and a lot of other relationships off the field.

“The club has done a lot for me growing as a cricketer andaperson, similar to what Wallsend did when I was really young, and now Randwick has taken over that role again.

“It was my first score over 150 and there was some other history there as well, but it was more so the win and getting over the line that meant that little bit extra.”

Twelve months ago Sangharelocated from Newcastle to Sydney, where he was born, to take up full-time contract commitments with the NSW Blues andcontinue studies at Waverley College.

The former Hunter Sports High School student has English, Mathematics, Business, Physics and Legal Studies on his agenda during the next three weeks.

“I’ll be a lot more stress free when it’s over,” Sangha said.“It’s been tough trying to study and train as much as I can, but it has helped take my mind off cricket a bit as well.”

The main goalfor Sangha thissummer isperforming at the under-19 national championships in Tasmania in December to make then squad for the World Cup in New Zealand in January. He said aSheffield Shield debut would be an added bonus.

“I’ve just got to keep doing my best at grade cricket and if I get those higher honours I need to take them with both hands,” he said.

Sangha lines up for the Sydney Thunder in a T20academy trial against the Sydney Sixers at Rouse Hill on Wednesday before returning his focus to Randwick, who next play Fairfield-Liverpool, and Year 12 tests.

At least 15 dead, thousands evacuated in California battles devastating bushfires

13/02/2019

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Los Angeles: California is battling bushfires on at least two major fronts, including a devastating fire in the north of the state that has killed at least 15 people and forced up to 20,000 to evacuate their homes.
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As firefighters battled on the northern front, a second fire swept through the Anaheim Hills, east of Los Angeles, coming within just 24 kilometres of the iconic Disneyland theme park and turning the sky above it a disquieting shade of dark orange.

In northern California there are fires raging in approximately 15 locations spread across eight counties, including Napa, Sonoma and Mendocino, the heart of the state’s billion-dollar wine industry.

The deputy director of the California Department of Forestry and Fire Protection, Jane Upton, told US media the fires had already burnt almost 46,000 hectares and consumed up to 1500 buildings, including homes and businesses.

More than 100 people have been treated in area hospitals with fire-related injuries or health issues, including burns and smoke inhalation.

One scene of particular devastation is the city of Santa Rosa, about 80 kilometres north of San Francisco, where whole neighbourhoods have been incinerated.

“I am lucky, my house is fine, my family is fine, my city is not,” Santa Rosa’s mayor Chris Coursey told media.

The northern California fires have been fanned by unexpectedly fast winds and a lack of humidity, California Governor Jerry Brown said.

“The heat, the lack of humidity and the winds are all driving a very dangerous situation and making it worse,” Mr Brown said. “It’s not under control by any means.”

The fire front east of Los Angeles was sparked only on Monday but spread quickly, fanned by the city’s famed Santa Ana winds, which come in October each year.

The fire expanded from about 10 hectares to about 2000 hectares within hours; it has since spread to more than 20 times that area.

The Santa Anas are strong down-slope winds that blow through California’s mountain passes towards the coastline; they are warm, dry winds known for severely exacerbating forest fires.

Local news services are reporting that a number of homes are burning and that mandatory evacuation orders have been issued for the Anaheim Hills area.

One media report said seven homes had been destroyed and quoted a local resident saying he had “never seen anything like this” despite living in the area for 21 years.

Airborne ash and smoky conditions forced the closure of at least two major freeways in the vicinity of Anaheim: the State Route 241 and the eastbound side of the State Route 91.

Both fire fronts are unusual in that they are extremely close to populated areas, such as Santa Rose and Glen Ellen, in northern California, and Anaheim, in the east of Los Angeles.

The fire front east of Los Angeles is presently zero per cent contained.

The strong winds made the fire’s movement difficult to predict, Anaheim police and fire department spokesman Daron Wyatt told reporters.

“With the wind-driven event, this fire can change behaviour very rapidly,” he said.

Despite the proximity of the fire, the Disneyland park is still open; according to reports it is hosting at least two media events this evening, for the Thor: Ragnarok film and the Cars franchise.

At least nine schools in the area have been closed as a precautionary measure.

October is considered a critical month in the Californian calendar as it combines high temperatures with low humidity, leaving the dry inland of the state most vulnerable to fire.

At least four of the five most destructive bushfires in the state’s recent history occurred in October, notably the 1991 Oakland Hills “firestorm”, which claimed 25 lives and destroyed almost 3000 buildings.

The Black Rock house that’s the ultimate people-pleaser

13/02/2019

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22 Cheltenham Road, Black Rock 22 Cheltenham Road, Black Rock
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Someone set a tall order when they named this property Jabulani. It’s Zulu for “bring happiness to everyone”. Live up to that if you can! However, the graceful Californian bungalow, with its garden swing and mosaic pool, is the ultimate people-pleaser.

Swanky 1920s living and dining rooms, a library, a modern lounge, renovated bathrooms and four double bedrooms with a view through blossoming trees could easily make a family fall in love at first sight. Nestled between the golf courses and Half Moon Bay, Jabulani is in the catchment area for the new Beaumaris Secondary College and for Mentone Girls’. Younger kids might want to do the “Usain Bolt”, a 130-metre sprint to Black Rock Primary .???.???. at 8.59am.

If the Californian bungalow is the George Clooney of houses – handsome even when scruffy – this is Clooney at the Oscars. The white two-storey weatherboard has been lovingly updated by the vendors, who also landscaped the garden.

A brick path wends through the high-hedged garden to the porch and double-door entry. The wide, typically ’20s hall opens left into the north-facing living room, which has pine floorboards, diamond-paned sash windows and a tiled open fireplace with a mirrored mantelpiece. Glass-paned doors link it to the dining room, which opens in turn to the kitchen. The library, at the house’s front, has bookcases.

Jabulani’s modern rear portion is a large, cream-tiled open plan area, ideal for entertaining. The family area has full-length windows and french doors to the covered patio. The white timber kitchen has Bosch appliances and new stone benchtops. In the laundry, a sliding door leads to a bathroom with a shower, with poolside access.

The carpeted first floor, via a scrolled staircase, begins with three double bedrooms and a tiled main bathroom with shower and bath. The capacious main bedroom has a walk-in wardrobe and a porcelain en suite with shower.

???Jabulani seals its claim to its name in the garden, where the glass-fenced pool offers two spas in a chic sandstone frame. The idyllic surroundings include a barbecue kitchen, a cabana, a fountain flanked by orange trees, and a concealed shed. Come and get happy.

22 Cheltenham Road, Black Rock

$1.85 million – $2 million

Auction: October 21 at 11.30am

Agent: Buxton, Peter Hickey 0412 569 480

Why Tony Abbott looks forward to global warming: more beach days

13/02/2019

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“Climate change itself is probably doing good; or at least, more good than harm [and] .. a gradual lift in global temperatures … might even be beneficial”: Tony Abbott.
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Mr Abbott is right, of course.

A spot of global warming has many benefits, not least of which means a man would get a lot more lovely warm days to disport himself on the beach in his smugglers.

The beach itself is likely to get a lot closer, even if, as Mr Abbott mourns, it’s taking its good time. A hundred years of pictures and Manly beach has barely changed, he says. You can hear him urging it to hurry up.

Proper sea level rises could have the ocean lapping at a fellow’s front door. A whoopsy-doodle off the porch and you’ll be swimming with the fishes right away.

Talking about fishes. Life in the previously cooler climes would be vastly more colourful, with parrotfish, lovely big-lipped wrasses and coral trout leaping about as they search for a new home, having abandoned what was the Great Barrier Reef before it expired of global warming and Adani.

Mr Abbott, who trained as a priest until he comprehended his destiny was to abandon the cassock and reveal on a beach near you how he was created ‘in the image and likeness of God’, clearly knows his Bible well.

That bit about us forgetting the important Biblical precept about subduing the earth?

That’s from Genesis: “Then God said, ‘Let Us make man in Our image, according to Our likeness; let them have dominion over the fish of the sea, over the birds of the air, and over the cattle, over all the earth and over every creeping thing that creeps on the earth’.”

Genesis forgot to mention dominion over Malcolm Turnbull, but you’d imagine Mr Abbott figures it’s implied towards the end there.

You’ve got to hand it to him. Who else could get the Inquisition, the danger of voting, the thought police and science into the one compelling paragraph? Apart, of course, from Lord Monckton and Andrew Bolt?

“Beware the pronouncement, ‘the science is settled’,” he cried. “It’s the spirit of the Inquisition, the thought police, down the ages. Almost as bad is the claim that ’99 per cent of scientists believe’, as if scientific truth is determined by votes rather than facts.”

If only the truth about Mr Abbott’s period as prime minister hadn’t been determined by a party-room vote.

We’d still have a national leader who thinks global warming is a fine aspiration for the frozen, huddled masses.

Instead, we’ve got a lost boy aimlessly wandering the earth in search of an audience, his vision revealed in all its splendour – which is to say, without even a pair of pants.

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