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Chris Waller announces Caulfield Cup riders, doesn’t intend to run Preferment

Who Shot Thebarman walks through the shallow waters during a trackwork session at Altona Beach on Monday. Photo: Vince Caligiuri Who Shot Thebarman walks through the shallow waters during a trackwork session at Altona Beach on Monday. Photo: Vince Caligiuri
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Who Shot Thebarman walks through the shallow waters during a trackwork session at Altona Beach on Monday. Photo: Vince Caligiuri

Who Shot Thebarman walks through the shallow waters during a trackwork session at Altona Beach on Monday. Photo: Vince Caligiuri

Champion trainer Chris Waller has confirmed jockeys for four runners in next week’s Caulfield Cup, but doesn’t intend on running second favourite Preferment, which will be saved for the Cox Plate.

Preferment is a $9.50 Cup chance after winning last Sunday’s Turnbull Stakes, and was only behind Japanese raider Fame Game in the Ladbrokes market.

However Waller said he is unlikely to take his spot as he announced jockey bookings for his runners.

Turnbull runner-up Royal Descent and Who Shot Thebarman are assured runs in the Caulfield Cup and will be ridden by Glen Boss and Blake Shinn respectively.

Sydney Cup winner Grand Marshal will be Jim Cassidy’s ride. He sits in the final spot in the field after the Preferment decision but could still miss the field as Saturday’s Herbert Power Handicap winner is exempt from the ballot.

Glyn Schofield has again been booked for Metropolitan runner-up Beaten Up, which is 24th on the order of entry and needs a couple more to drop out to get a run in the field of 18 in the $3 million cup on October 18.

Hugh Bowman, who regularly rides for Waller, accepted the Caulfield Cup ride on Ascot Gold Cup winner Trip To Paris from Ed Dunlop on Tuesday.

Waller also said Kermadec, Winx and Preferment are likely to be his Cox Plate runners at Moonee Valley on October 25. There have been no riders booked for the race as yet.

Kermadec will run in Saturday’s Caulfield Stakes, where he will start favourite and he is a $5 top pick at Ladbrokes for the Cox Plate. The bookmaker has Winx at $7 and Preferment at $14 in the weight-for-age championship.


Counter-terrorism raids in Sydney after fatal Parramatta shooting

Five people have been arrested after terror raids in Sydney’s west. Photo: Channel Nine Police raiding properties in western Sydney on Wednesday morning. Photo: Channel NIne
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Police carrying out raids on properties in western Sydney on Wednesday morning. Photo: Channel NIne

Police at one of the houses raided on Wednesday morning. Photo: Peter Rae

Police raids: A man in blue shorts talks to a man in a suit outside a house at Lane Street, Wentworthville. Photo: Peter Rae

Police search a house in Wentworthville. Photo: Peter Rae

Police raid a house in Merrylands. Photo: Nick Moir

 Student arrested over social media postsHome searched for guns months agoSword-arrest man detained again Man’s spray before terror raidGunman Jabar kept a low profile

Five males were arrested early on Wednesday in a series of counter-terrorism raids across Sydney’s west and north that police say are linked to the fatal shooting outside NSW Police’s Parramatta headquarters last week.

A 16-year-old schoolfriend of teen gunman Farhad Khalil Mohammad Jabar was among those arrested in the raids, which were carried out about 6am at homes in Merrylands, Guildford, Wentworthville and Marsfield.

Those arrested were aged 24 or younger, and three of the four homes were targets of counter-terrorism raids in September last year.

Police said those arrested had been taken to various police stations in Sydney and were being questioned over the execution of police accountant Curtis Cheng, 58, who was shot outside the police building on Friday afternoon.

At Merrylands, eggs were thrown at reporters from a house on an adjacent street. The eggs came over the top of a house on Lockwood Street before landing on the road and grass where cameras were set up.

Most missed their target, although a photographer and a cameraman were hit with a bit of yolk.

One journalist, in the middle of a live cross, narrowly missed being hit. I’m glad the “egg bandits” can’t aim. Would have really hurt @Natalia_Cooper9 if it had hit her. Fools. pic.twitter上海龙凤论坛m/Ucla09KKB3— Tiffany Wertheimer (@TiffWertheimer9) October 6, 2015

Police officers went looking for the egg throwers and spotted a couple of men on the top level of a home on an adjacent street but they ducked after seeing officers approaching.

About 200 police officers were involved in Wednesday morning’s raids at Bursill Street in Guildford, Lane Street in Wentworthville, Lockwood Street in Merrylands and Booth Street in Marsfield.

Those arrested were a 16-year-old boy and an 18-year-old man from Wentworthville; a 22-year-old man and a 24-year-old man from Merrylands; and 22-year-old Mustafa Dirani from Marsfield.

The 24 year-old man arrested at Merrylands was not detained as part of the terrorism operation but on an outstanding warrant for fraud matters.

Police raid a house in Merrylands. Photo: Nick Moir

The arrests were made as part of an investigation by the NSW Joint Counter Terrorism Team and the Homicide Squad.

Police blocked off Lane Street in Wentworthville after it raided the home there.

Up to 20 police officers, including riot police, three dog-squad cars and federal forensic investigators surrounded the property in Sydney’s west for more than three hours.

Police were seen carrying out evidence bags as concerned neighbours watched on.

“We are used to it here,” said one neighbour whose balcony overlooks the Lane Street apartment police raided. “This is nothing – you should have seen the last one.”

Resident Veeshal Bolaky woke to the sound of helicopters buzzing above their roof, then turned on his TV to see police piling into their neighbourhood.

“Of course it makes us concerned, we used to be able to leave our windows open – not any more,” said Mr Bolaky. 

Police raiding properties in western Sydney on Wednesday morning. Photo: Channel NIne

 On Bursill Street, Guildford, forensic and police officers raided the home of Omarjan Azari. Earlier this year Mr Azari was charged over a terrorist plot in which police alleged there was a plan to execute someone publicly in Sydney.

Just before 9am a young man in a blue-hooded jacket was seen leaving the property. Neighbour Mario said the last raid at the property was “more full on” than that on Wednesday morning.

“They’ve been raided before as you know … [but] last time it was a bit more full on,” he said.

Mario has lived on Bursill Street for about five years, but has never spoken to the Azari family.

“You just see the old man doing the lawns maybe. But never [a] hello, never nothing,” he said, adding: “As soon as they moved in, it was like a week later they got raided.”

Mr Cheng, who had worked for NSW Police for 17 years, was leaving work about 4.30pm on Friday when Farhad Jabar, 15, shot him in the back of the head.

A special constable then shot and killed the boy, a year 10 student from the nearby Arthur Phillip High School.

The n Federal Police said Wednesday morning’s raids were not connected to the arrest on Tuesday morning of a student outside the school.

In that incident, a 17-year-old boy was arrested over alleged posts he made on his Facebook account following Friday’s shooting.

The teenager was charged overnight with two counts of resisting arrest, using a carriage service to menace, harass or offend, assaulting police and intimidating police.


Bindi Irwin leaves audience in tears after emotional tribute to father Steve Irwin

Bindi Irwin breaks down following her performance.Bindi Irwin left the judges, the audience and her little brother in tears on Monday night as she performed a heart-breaking tribute to her father, Steve Irwin, on the US Dancing With The Stars.
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The 17 year-old knew she was in for an emotional week as she and her dance partner Derek Hough prepped for the ‘Most Memorable year’-themed episode, choosing to revisit her father’s death nine years earlier.

“Most Memorable Year. Tonight’s show on @dancingabc means so much to me,” she wrote on Instagram.

“It’s going to be an emotional and meaningful night for us all. Thank you for taking this journey with us tonight.”

As the TV show’s audience watched archival footage of an eight-year-old Bindi eulogise her father, the Crocodile Hunter, Bindi revealed that she had never really processed his death.

“For the rest of my life I’ll kind of feel like he’s going to come home,” she said through heavy tears.

Bindi’s emotional connection with the subject matter was matched by her prowess on the dance floor.

The teenager has been praised for her grace and technique in recent weeks, and Monday night’s contemporary routine was no exception as she and Hough played the roles of adoring daughter and doting father to The Police’s Every Step You Take.

As the music stopped and the crowd cheered Bindi was inconsolable, crying into the chest of her dance partner.

“This dance is for my Dad and for my family for everyone back at home, but for my Dad. This is for him,” Bindi said.

The camera panning through the live studio audience found several openly weeping spectators.

But the image of Bindi’s younger brother Bob wiping a tear away as sat next to his mother, Terri, captured the power of Bindi’s performance for her family.

“There cannot possibly be a dry eye left in America, or , or anywhere,” E Online proclaimed.

Bindi and Hough scored the first ’10’ of the competition with the dance.

“We can’t judge the packages we have to judge the actual dance and that dance was breathtaking,” said judge Julianne Hough. I love you. Thank you for always being with me, wherever I go.A photo posted by Bindi Irwin (@bindisueirwin) on Oct 5, 2015 at 8:43pm PDT


Battle for ANI REIT heats up as Redefine and Pivotal emerge as bidders

ANI’s asset leased to Post at 6 Macdonald Road, Ingleburn, NSW is in the portfolio being sought after by 360 Capital Industrial Fund.South African-based investors Redefine and Pivotal have emerged as the new mystery bidders in the long-running takeover attempts for control of the n Industrial REIT.
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The bidders first surfaced last month with a non-binding, indicative and conditional full cash offer valuing ANI at about $230 million. They are both listed on the Johannesburg Stock Exchange with Redefine’s market capitalisation at $A5.7 billion and Pivotal at about $600 million.

The South African joint offer is for $2.40 cash per ANI share.

That compares to the rival 360 Capital’s 0.9 share and 24.5¢ per ANI security offer, valuing ANI at $2.35. When paid, the offer will be boosted by 360 Capital’s final distribution of 4.8¢.

ANI’s shares closed down 0.02¢ to $2.36 and 360 Capital were unchanged at $2.34 per security.

Moelis is advising on Tony Pitt’s 360 Capital Industrial Fund offer, which controls 36 per cent of the Fife Capital Fund-managed ANI stock. At stake is the ANI trust run by Allan Fife, which was listed in October 2013 and owns 16 warehouse and industrial properties worth $330.1 million.

UBS and Fort Street Advisors are working with ANI’s independent directors.

The assets are spread across the country including Ingleburn, leased to Post and Erskine Park, Sydney, Keon Park, Melbourne and across Perth.

The battle is being fought amid forecasts that more mergers and acquisitions could beset the real estate investment trust sector. One being touted by brokers is a possible tilt at Mirvac, possibly from an overseas-based investor looking for a foothold into the n residential market, where Mirvac has a high exposure.

There is also to conclusion soon to the Morgan Stanley sale of its management rights in the Investa Commercial Property Fund, which is expected soon.

Mr Pitt has said since he made the first offer in December 2014 that he was committed to making the deal work, but so far has not met with any enthusiasm from ANI’s independent directors.

Last week to try and wrestle control 360 Capital lodged another request for a meeting to vote out Fife as the manager of ANI. That meeting is scheduled for October 26 and was called to “prevent Fife Funds from charging ANI unitholders further costs in protecting Fife Funds’ management rights”.

In the latest letter to ANI investors, ANI’s independent chairman Rod Pearse repeated that no action is required by ANI unitholders at this time.

“Since the cash proposal was first announced, the consortium [Redefine and Pivotal] has been progressing its due diligence investigations and has been focused on satisfying the pre-conditions to a binding formal offer,” Mr Pearse said.

The consortium has stated that it expects all remaining pre-conditions can be satisfied by Friday October 9 and, subject to the satisfaction of those pre-conditions, it is proposing to release a bidder’s statement prior to October 24.

One of the conditions in the new cash offer was the agreement of a market standard break fee. However, Mr Pearse said the no assurances have been made that a break fee will be provided and this will be discussed with the consortium and its advisers in the coming days.

“Fife Funds intends to continue to engage with the consortium to progress the cash proposal so that a viable cash alternative to the predominately scrip offer made by 360 Capital Investment Management can be put to ANI unit holders in a timely manner,” Mr Pearse said.


Rugby World Cup 2015: Sam Burgess dropped as England ring the changes for Uruguay

Rugby World Cup interactive: your guide to every teamFull coverage of the 2015 Rugby World Cup
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LONDON: Their World Cup campaign is over and former NRL star Sam Burgess is now the scapegoat after being axed from England’s last game of the tournament.

England coach Stuart Lancaster is in damage control and trying to save his job after the hosts were eliminated from their home World Cup last weekend.

Burgess has been at the centre of all the attention since well before the tournament, earning a spot in the 31-man squad despite having just two Tests to his name and less than a year of rugby experience.

Now he has paid the price for the intense scrutiny, dropped from the game-day squad to play against Uruguay on Saturday night (Sunday morning AEDT).

There were accusations of a divide in the squad over perceived preferential treatment to Burgess.

Certain players felt that Burgess’ elevation into the squad as a centre at the expense of Luther Burrell was due to the coaches’ fixation with the former rugby league star.

England No. 8 took to social media to deny that he questioned Burgess’ selection at a question and answer function last week.

There is speculation Burgess will quit rugby and join Super League club Leeds after the tournament, just over a year after he led the South Sydney Rabbitohs to a historic NRL premiership.

“I’ve not had any conversations with him about a move to rugby league at all,” Lancaster said.

“Genuinely, 100 per cent I didn’t know that story was out there. My last conversation with him was about him going back to Bath. He can’t wait to get stuck into the Premiership.

“He feels he’s made good strides as a player and he wants to continue to improve. Bath will be delighted to have him back and I can’t see anything changing in that regard.”

Burgess has been the target of intense criticism since he was promoted to England’s starting side against Wales two weeks ago.

Burgess was solid, but got caught out in defensive lapses at times. However, England lost the game while Burgess was on the bench after he was substituted.

He was on the bench for England’s 33-13 loss to last weekend and didn’t make an impact when he was injected in the second half.

The Wallabies overpowered England in a match that saw them crash out of their own tournament – the first time in World Cup history that the host nation has failed to progress through the group stage.

“Sam wasn’t picked because I want to have a look at this combination for this game,” Lancaster said.

England team:

1-Mako Vunipola, 2-Tom Youngs, 3-Dan Cole, 4-Joe Launchbury, 5-Geoff Parling, 6-James Haskell, 7-Chris Robshaw (captain), 8-Nick Easter; 9-Danny Care, 10-George Ford, 11-Jack Nowell, 12-Owen Farrell, 13-Henry Slade, 14-Anthony Watson, 15-Alex Goode.

Replacements: 16-Jamie George, 17-Joe Marler, 18-David Wilson, 19-George Kruis, 20-Tom Wood, 21-Richard Wigglesworth, 22-Jonathan Joseph, 23-Mike Brown.


Target on track to move to new distribution centre in Melbourne’s west

Target will build and occupy a new distribution centre to service its Victorian outlets. Photo: Paul Jones Target will build and occupy a new distribution centre to service its Victorian outlets. Photo: Paul Jones
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Target will build and occupy a new distribution centre to service its Victorian outlets. Photo: Paul Jones

Target will build and occupy a new distribution centre to service its Victorian outlets. Photo: Paul Jones

Target is close to finalising a deal for a new 61,300-square-metre distribution centre in Melbourne’s west as part of a broader $300 million upgrade of its facilities in ‘s main cities.

The Wesfarmers-owned retailer is believed to have signed with a large western suburbs developer in Truganina, out of a possible shortlist of six, to build and lease the new megaplex​ which will consolidate and replace its existing Victorian distribution network.

Target set an October 2 deadline for signing a “heads of agreement” deal for the lease of a building similar to that negotiated by sister retailer Coles at its two-year-old 80,000 square shed in the TRUWEST​ Industrial Estate at 485 Doherty’s Road.

Wesfarmers’ preference was to co-locate the two facilities either in the same or neighbouring suburbs, requirements sighted by Business Day show.

Target currently operates from a purpose-built 41,000-square-metre centre in Altona North owned by Dexus Property Group. It wants to occupy the new centre no later than December 2016 on a 10- to 20-year lease with five four-year options.

The retailer, one of Wesfarmers’ key chains alongside Coles and Bunnings, has suffered a string of poor sales results, although this year it emerged from the wilderness to notch up its first rise, 4.7 per cent, in pre-tax earnings since 2010 under new boss Stuart Machin’s​ transformation strategy.

It has identified sites in Melbourne and Brisbane, and possibly Sydney and Perth, for buildings between 50,000 square metres and 70,000 square metres in a consolidation of its distribution network managed by Xact Solutions.

A substantial new space of Target’s size will further consolidate the western suburb’s status as Melbourne’s largest industrial submarket.

It has overtaken the south-east for the first time and now boasts 4.93 million square metres of major industrial space above 10,000 square metres, according to the latest Urbis Melbourne Industrial Vacancy Study.

Urbis director Shane Robb said the west’s vacancy rate had risen 2.1 per cent over the previous six months to 5.9 per cent in August while Melbourne’s overall industrial vacancy rate was 4.75 per cent, up slightly from the previous February.

Mr Robb said the rise, in part, was due to substantial construction of new space across the sector with 430,000 square metres added to date this year.

“We’re expecting around 500,000 [square] metres by end of year. That’s effectively double what it was in 2013,” he said.

Colliers International industrial director Nick Saunders said, while the number of leasing deals completed in Melbourne’s west were down on five-year average terms, businesses were being spurred to relocate by large incentives and a growth in business activity.

“What’s driving relocations is contracts. Businesses are being awarded more work and that’s driving them to take on larger places,” Mr Saunders said.

The pre-lease market was “super aggressive” with net effective rents around $45 to $50 per square metre. But buildings larger than 15,000 square metres were proving slower to fill, he said.


Investors target childcare centres: agents

A Melbourne-based private investor outbid five other potential purchasers at the auction of a Thornbury childcare centre, with a final bid of $1.83 million on a tight 3.89 per cent yield. A Melbourne-based private investor outbid five other potential purchasers at the auction of a Thornbury childcare centre, with a final bid of $1.83 million on a tight 3.89 per cent yield.
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A Melbourne-based private investor outbid five other potential purchasers at the auction of a Thornbury childcare centre, with a final bid of $1.83 million on a tight 3.89 per cent yield.

A Melbourne-based private investor outbid five other potential purchasers at the auction of a Thornbury childcare centre, with a final bid of $1.83 million on a tight 3.89 per cent yield.

Investors are increasingly buying childcare centres, driven by strong government support for the sector, population growth and sharemarket volatility, according to commercial agents.

This is pushing prices up and yields down, say Savills and Burgess Rawson.

Savills say that in recent Melbourne deals properties have sold off-market, off the plan, before auction and at hotly contested auctions, with yields in Melbourne falling as low as 3.89 per cent.

In the latest deal, a China-based investor paid $2.3 million on a 5.1 per cent yield for a centre in Rowville, in Melbourne’s outer east. The purpose-built centre sold subject to a 10-year lease at $118,110 per annum net with 100 per cent occupancy and an extensive waiting list.

In Thornbury, a childcare centre sold after a contested auction for $1.83 million on what is believed to be a record-low 3.89 per cent yield.

Savills’ director of city sales and investments, Julian Heatherich, said the average initial yield for childcare centres in metropolitan Melbourne last year was about 6.75 per cent. Until recently, yields had been 6 per cent to 7 per cent this year.

Burgess Rawson sales executive Adam Thomas said since February 2014, more than 70 childcare freeholds had been sold on ‘s eastern seaboard. “That’s a significant volume,” he told Business Day.

Mr Thomas said investors were paying between $800,000 and $5 million for old and new properties. “Smaller centres tend to be conversions,” he said.

Mr Thomas said yields were without question trending down. Childcare centres were now seen as more secure. “Investors are now more confident than they were six or seven years ago after the demise of the ABC Learning Centres,” he said.

Both sides of politics were funding and subsidising the industry, and supporting increased parental  participation in the workforce.

In the 2015 budget, the federal government allocated $3.2 billion in new spending over four years to improve the affordability of childcare. “The sector is also underpinned by demographics,” he said.

A Productivity Commission report estimated another 50,000 long-term daycare places were needed over the next 10 years. This translated to 500 new centres averaging 100 places, Mr Heatherich said, with the buildings averaging 3000 to 4000 square metres, and adequate land for outdoor play spaces.

Mr Thomas said childcare centres tended to have longer-term leases of 10 to 15 years, plus options, with national companies, some of which were listed on the stock exchange.

Another advantage was the fact the sector was overseen by the federal n Children’s Education & Care Quality Authority (ACECQA), which rates all childcare centres. “This national framework gives the sector a solid foundation,” he said.

Mr Heatherich said recent share market volatility had also bolstered demand for the centres. “Small investors have traditionally been buyers of retail strip and residential assets,” he said, but were now targeting childcare due to poor share market investments.

Mr Heatherich said most childcare investors were looking to buy new builds, especially with all the new housing estates being developed on Melbourne’s fringe. Along with supermarkets and schools, childcare was an integral demand in these areas.

Both Mr Heatherich and Mr Thomas said there was no sign that investors were dumping 7-Eleven stores in the wake of the sector’s wages scandal to get into the childcare market.


White puts hand up for England job

Rugby World Cup interactive: your guide to every teamFull coverage of the 2015 Rugby World Cup
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LONDON: Former ACT Brumbies coach and Wallabies candidate Jake White has declared his interest in “the biggest job in world rugby” as the sharks circle for Stuart Lancaster’s England job.

White is the latest to publicly confirm he would be interested in speaking with RFU officials if they decided to sack Lancaster following a disastrous home World Cup.

The Wallabies delivered a killer blow to England’s campaign with a 33-13 win against the hosts at Twickenham last weekend.

The loss saw Lancaster’s men tumble out of the World Cup, becoming the first host nation in the tournament’s history to be out of contention before the quarter finals.

NRL convert Sam Burgess has been dropped for the last pool match against Uruguay and England has slumped to its lowest ever world ranking of eighth.

South Africa’s 2007 World Cup-winning mentor White has joined Eddie Jones in saying they would be open to being approached to replace Lancaster.

White, who is now coach of French club Montpellier, was a contender for the England job three years ago when he went head to head with Lancaster.

White almost walked away from his four-year deal with the Brumbies after just two games to pursue an opportunity in England.

He was also one of two people interviewed by the ARU as a potential replacement for Robbie Deans, but powerbrokers decided to go with Ewen McKenzie in 2013.

White’s name was also thrown up as a candidate when McKenzie quite 12 months ago, but Michael Cheika won the battle.

“England have everything going for them in terms of resources, players and history,” White told UK media.

“If they were genuinely interested and they approached me, of course I would be interested. It’s one of the biggest jobs in world sport and you’d be crazy not to consider it.

“When I was with the Boks, I was approached to put my name in for Rob Andrew’s job. Then they contacted me before appointing Martin Johnson and Stuart Lancaster.

“All three times they’ve gone for English people. Generally it’s used as a means to make the other candidates look like they have a bit of credence.”

If Lancaster is sacked and White puts his name in for contention, it leaves several former Brumbies in an interesting position.

Former Wallabies and Brumbies captain Ben Mowen, halfback Nic White and fullback Jesse Mogg all play for Montpellier.

White was influential in luring White and Mogg to France this year.

Lancaster’s fate will be decided when the RFU review their horror World Cup campaign.

There have been accusations of power struggles in the coaching staff and a player divide following perceived preferential treatment to former South Sydney star Burgess.

“Since 2003, England have been going backwards. They made the final in 2007 [against South Africa] but it was a shambles,” White said.

“For a big rugby nation like England to be eighth in the world isn’t right.

“International rugby shouldn’t be a learning curve for coaches. It’s a business now. The last three World Cups must send a message; if you go for a coach who’s never coached international rugby, it’s going to be the same old, same old.”

Meanwhile, Wallabies great David Campese took a swipe at the World Rugby citing process that has led to n vice-captain Michael Hooper being suspended for one week.

Hooper fronted a two-hour hearing on Tuesday and pleaded guilty to not using his arms in an attempted cleanout of England fullback Mike Brown.

But Campese said the citing process was wrong after Hooper was sent to the judiciary while Burgess escaped with a yellow card warning for his high tackle on the Wallabies’ No. 7.

“Sorry, but Hooper cited and Burgess gets off,” Campese tweeted. “The game is lost & the people looking after it has no idea what the game is about.”


Market Wrap: Buyers vie for East Melbourne shop in rare retail sale

A shop in East Melbourne has been sold for $3.025 million. A ground-floor strata shop near Lygon Street in Carlton has been sold for $1.925 million.
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A shop in East Melbourne has been sold for $3.025 million.

A ground-floor strata shop near Lygon Street in Carlton has been sold for $1.925 million.

A shop in East Melbourne has been sold for $3.025 million.

A ground-floor strata shop near Lygon Street in Carlton has been sold for $1.925 million.

A shop in East Melbourne has been sold for $3.025 million.

A ground-floor strata shop near Lygon Street in Carlton has been sold for $1.925 million.

SALES

East Melbourne

A shop in a tightly held retail pocket of East Melbourne has sold for $3.025 million. The 193-square-metre site with a six-metre frontage to Wellington Parade and 28 metres to Simpson Street attracted 120 inquiries, Savills ‘s Nick Peden and Jesse Radisich and MGO Property’s Martin O’Halloran said. The two-level building with a shop and office on the ground floor and an office upstairs was fully leased to two tenants at a total income of $95,576 net. “East Melbourne retail in this precinct is relatively scarce and, as such, highly valued and tightly held,” Mr Peden said.

Hampton

A two-level shop and residence at the beach end at 390-392 Hampton Street has sold on a low 4.1 per cent yield at auction. On five separate titles, the modern building’s five tenancies provide an annual rental income of $112,285, conjunctional agents DBRE and Buxtons said. “The vendor accepted the final bid in the high $2 million range from a local private investor whose intention is to look to redeveloping the upper floors in [the] future,” DBRE’s James Davie said.

Carlton

A securely leased ground-floor strata shop metres from Lygon Street sold for $1.925 million, representing a tight yield of 4.6 per cent, Morley Commercial’s James Lie said. The shop at 186 Faraday Street was leased to Et Al, a prominent n fashion company with five stores, for $89,989 per annum, plus GST, he said.

Abbotsford

A local developer outbid offshore buyers to nab a $5.04 million development site in Hoddle Street. The property on the corner at 218-228 Hoddle Street, which had two street frontages, had been used as a showroom, Savills ‘s Nick Peden and Jesse Radisich said. “We were expecting a little over $3.5 million. However, the strong competition from both local and offshore interests put its value at another level, perhaps reflecting some hope that the site may see a residential rezoning in the not too distant future,” Mr Peden said. The main portion of the property facing Hoddle Street was sold with vacant possession.

Laverton North

Strengthening demand from owner-occupiers wanting to gain a foothold in Melbourne’s western industrial precinct has underpinned more than $12 million in sales over the past two months. Chinese-based consortium Forte Land secured a 7462-square-metre industrial facility at 197-205 Boundary Road in Laverton North for about $6 million with impending occupation for a related entity, CBRE’s Harry Kalaitzis and Todd Grima said. In another deal, National Auto Glass Supplies acquired a 4008-square-metre, speculatively built facility at 31 Benn Court within the Westpark Industrial Estate in Derrimut for $3.78 million. Meanwhile, South Melbourne-based business The Car Brokers purchased a 2360-square-metre facility at 2/405 Grieve Parade in Altona North for $2.42 million. The property comprises a modern two-level office/showroom/warehouse, internal clearances of 10 metres and four container-height roller doors.

Ringwood

The last two office suites in the Omnico development at 50 New Street have been sold. The ground-floor conference centre went for $526,000 on a yield of 6 per cent. It was leased to the owners’ corporation on a 10 + 10-year lease with 8.5 years remaining and Suite 17, which is leased by Yellow Brick Road Financial Planning, sold for $270,000, Knight Frank’s Tim Grant said.

CBD

Fitzroys’ Stephen Land and Tom Backay have sold a portion of the iconic Equitable House office building at 343 Little Collins Street on the corner of Elizabeth Street. Suite 907 on Level 9 went to a local investor for $655,000, representing a 6.2 per cent net yield. The 111-square-metre space sold subject to a new three-year term and a three-year option to a government tenant, returning $50,000 per annum, plus GST.

LEASES

Hoppers Crossing

Leo Mancino of CVA Property Consultants has leased 1300 Old Geelong Road site to 99 Bikes, one of ‘s leading bicycle retailers. The 1084-square-metre building was leased for $115,000.00 per annum at a rate of $106.09 per square metre. This will mark 99 Bikes’ fifth Victorian location.

Dandenong South

Sydney-based steel fencing provider Budget Metals Aust will open its first Melbourne branch at an industrial facility at 1/64-68 Nissan Drive. The firm took a 1264-square-metre building (including a high-clearance warehouse with a five-tonne gantry crane and a ground-level office, drive around access, secure yard space and on-site parking) on a three-year lease at $89,744 per annum net, Savills ‘s Paul Jones and Kosta Filinis said.

Greensborough

Within a few months of selling for $900,000, on behalf of the Banyule City Council, a shop at 63 Main Street has been leased. A nail and beauty salon operator signed a 5+5-year lease on the 146-square-metre shop, paying a net annual rental of $55,000, Knight Frank’s Tim Grant said.

South Yarra

Medpace has relocated from Notting Hill to Como in South Yarra to be closer to the city. Colliers International’s Ash Dean said Medpace signed a five-year lease at 650 Chapel Street for net rent of $390 per square metre. “With only a 4 per cent incentive, this deal highlights the strength of this popular city fringe precinct,” he said. Meanwhile, Damien Adkins and Mr Dean signed global healthcare company Juno Pharmaceuticals to 500 square metres on Level 2 at 6 Bond Street on face rent of $430 per square metre.

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Wages showdown looms in Turnbull’s department

More public service newsCash willing to talk bargaining
Shanghai night field

More than 2000 public servants in Malcolm Turnbull’s department will vote next week on a hotly contested pay deal.

Both managers at the Department of the Prime Minister and Cabinet and the main workplace union are campaigning hard in the wake of a series of high-profile rejections of pay proposals.

Common ground looks hard to find with the opposing sides unable to agree on even the figures in the offer.

The department says it has worked hard to come up with a deal that is fair to about 1700 public servants drafted into PM&C from lower-paid departments as former prime minister Tony Abbott dramatically expanded the operation after he was elected.

But the Community and Public Sector Union is encouraging its members to say no, arguing in a bulletin sent out to PM&C staffers that the offer contains conditions harsher than are called for in the government framework.

“Employees are telling us they are voting ‘No’ to the proposed offer because it significantly cuts your conditions, going even further than the harsh and unworkable Government Bargaining Policy, has an unreasonable pay and classification structure that damages your career progression [and] severely cuts your current performance-based incremental advancement arrangements,” the bulletin states.

The union is also unhappy with the pay rise on offer, which it says is just below 1.2 per cent a year, well under the 1.5 per cent offered to other departments.

PM&C rejected the union’s assertion on Tuesday.

“The offer is an average of 4.5 per cent over three years and is consistent with the government’s bargaining policy,” a spokesman said. No other comment was offered.

The union is also unhappy about plans to “streamline” many of the terms and conditions from the last agreement, which expired in June 2014.

“[The offer] does not compensate for the delays caused by MoG exceptional circumstances and government delays [and] moves many of your hard fought and won conditions into easily changeable policy,” the bulletin reads.

“Remember, when you are voting on the proposed EA you are NOT voting on the policies, which have been stripped out.”

PM&C is influential way beyond its size and the result of the poll, which starts on Monday, October 12, will be watched closely throughout the service.

The pay dispute across the 152,000-strong public service is locked in stalemate, with tens of thousands of workers in large departments having rejected deals offered to them under the Coalition’s tough bargaining framework.

But departmental bosses say they have no room within the framework to make better offers and the resulting industrial action has already seen disruption by officials at the nation’s air and sea ports as well as Centrelink offices and other government installations.

Public service Minister Michaelia Cash indicated last week that she was willing to meet workplace unions in an effort to resolve the impasse.