Central Coast Business Review November 2022

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Central Coast Business Review

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Coast

WITH A STATE Election due in March 2023 CCBR is reviewing the support that Central Coast has received over the twelve years that the Liberals have been running this state.

Not much is the short answer.

Apart from $600 million for Gosford Hospital, a $20 million contribution to the $72 million University of Newcastle Central Coast Medical School and Research Institute, $200 million on a new Wyong Hospital, $16 million for the new Warnervale Primary School, $640 million on major roads, $42 million for water and sewer upgrades in Gosford CBD and $10 million for a new Leagues Club Park on Gosford waterfront.

Meanwhile this state government during the term of its life has invested billions of dollars in Western Sydney, in new highways and trains, the Aerotropolis, football stadi ums and more.

Added to this has been the mega millions invested in six Education and Employment Precincts but only a miser able $18 million for the Gosford Education and Employment Precinct announced as a promise at the last state elections by Premier Berejiklian.

As an indication of this government’s largesse to Western Sydney in August the Government announced $157 for a Trade Hub at Meadowbank, $60 million for a footpath from Sydney Opera House to Parramatta Park. In June the Government

crowed about the $1.3 billion they have handed Western Sydney for roads and major infrastructure projects.

In April this government handed $5 bil lion to the WestInvest Fund to “help fund and deliver transformation projects that will enhance communities and help create jobs.”

Right from the start in March 2011 it became obvious that this government would have a total focus on Western Sydney. When they came into government the Liberal Party leader, Barry O’Farrell, Member for the Upper North Shore elector ate of Northcott that subsequently became Ku-ring-gai, became Premier and appointed himself Minister for Western Sydney.

When Mr O’Farrell fell on his sword, Member for Manly, Mike Baird became Premier and continued as Minister for Western Sydney. When he resigned in 2017 Gladys Berejiklian, Member for Willoughby (a North Shore suburb), became Premier and appointed Member for Penrith Stuart Ayres Minister for Western Sydney until December2021 and now Member for Baulkham Hills David Elliott is Minister for Western Sydney.

This is evidence that the NSW Liberal Government has had a total focus on Western Sydney even though a vast swathe of this region is strongly Labor.

As we move towards the March 2023 State Election the State Opposition under their Leader, Chris Minns and Parliamentary Secretary for the Central Coast, Member for

Wyong David Harris the Labor Party has the opportunity to turn the region’s poor economic performance over the past three years (See Pages 16 and 17) around.

The new government has a huge task ahead of it. Under twelve years of Liberal Government we have seen a plethora of legislation and regulations that have stifled investment and development in the region.

Under this government we have seen the cost of getting a residential block of land to market pass $500,000 and then the buyer has to go through the hoops to get a Development Approval for just a 3-bedroom cottage. Absolutely outra geous!

The Coast’s economy has stalled and while we can attribute this to the failed amalgamation of Gosford and Wyong Councils, this government has contrib uted in no small way and is equally culpa ble, if not more so.

As we move into elec tion mode both parties are going to have to convince the people of the Central Coast that they understand the underlying issues confronting us all.

Editor

Edgar Adams

Waratah Super Battery for Munmorah

THE SOUTHERN HEMISPHERE’S largest network battery will be built at the site of the old Lake Munmorah Power Station.

Treasurer and Minister for Energy Matt Kean announced the decision in early October saying that the Waratah Super Battery will act as a “shock absorber” for the electricity grid.

The Waratah Super Battery will be the biggest network battery anywhere in the Southern Hemisphere,” said Mr Kean.

The Waratah battery, which is sized at 700MW and two hours of storage, is primar ily focused on expanding network capacity and will act as a “shock absorber” that will allow more power to be delivered to major demand centres.

The announcement comes after Origin Energy gave notice in February of the pro

posed closure of its Eraring power station in August 2025.

The project was granted Critical State Significant Infrastructure status earlier this year.

Construction is expected to begin in early 2023 and to be completed by mid2025 in advance of Eraring’s earliest clo sure date.

The Waratah Super Battery will be con nected to the grid by Transgrid, following $150 million in upgrades and $30 million for a control system, to ensure energy secu rity following closure of the Eraring Power Station.

“The Waratah Super Battery will drive up to $1 billion in private investment in new energy storage and associated network upgrades, generating more than 100 jobs in

the Hunter and Central Coast regions,” said Mr Kean.

Along with Vales Point Power Station, the now demolished Lake Munmorah Power Station has a long history in energy genera tion on the Central Coast.

our teams include

Across business, property, criminal, family law and wills & estates law,

Munmorah Power Station prior to demolition, now the site for the Waratah Super Battery

Image of proposed Waratah Super Battery on the former Munmorah Power Station site

Akaysha Energy to build Waratah Super Battery

New owner for Vales Point Power Station

ONLY A WEEK after announcing that the Waratah Super Battery would be located on the former Lake Munmorah Power Station site with the power station now demol ished The Energy Corporation of NSW (EnergyCo) announced that battery storage start-up, Melbourne based Akaysha Energy (recently purchased by US investment giant BlackRock) had won the contract to build the super battery.

Akaysha will be responsible for the con struction planned to commence in March 2023 and be completed by December 2024.

Akaysha Managing Director, Nick Carter told CCBR that during the construction phase over 300 people will be employed directly and indirectly. On completion it will take 20 – 30 people to operate for mainte nance while operator Transgrid will employ many more.

The battery hardware will be pro vided by US-based Powin LLC and built by Granville, Sydney electrical engineers, Consolidated Power Projects Australia.

The days when the Central Coast was a significant electricity generation region for NSW may be returning.

Two recent announcements concern ing the Vales Point and Munmorah power stations have highlighted their continuing value as centres of electricity generation and distribution. (See also, Waratah Super Battery powers up at Munmorah Page 5) Munmorah is also home to a 667 MW gasfired power station, Colongra Power Station, opened in 2009 at a cost of $500 million. Colongra, was acquired by Snowy Hydro in 2015.

In mid-September it was announced that Vales Point Power Station owner, Delta Electricity, had agreed to a 100% sale to Sev.en Global Investments (Sev.en), a family owned investment group from the Czech Republic with a core focus on the Energy and Mining sectors.

Commenting on the sale, Chief Executive

of Delta Electricity, Greg Everett said “The proposed acquisition of the Delta Electricity Group by Sev.en is a positive development for Delta and its stakeholders. Sev.en has shown a clear interest in energy businesses in Australia, ensuring that it is well placed to provide reliable generation through the energy transition.”

“This will benefit customers, employees and system security for all energy users”, he said.

Delta Electricity is a provider of electricity to approximately 11% of New South Wales and together with Sev.en’s prior invest ments in Australia, this investment will strengthen its position as one of Australia’s significant electricity businesses” he said.

Chief Executive of Sev.en, Alan Svoboda added “We are excited to consolidate and take over the ownership of Delta Group. With this acquisition we will significantly strengthen our presence in Australia.

Sev.en Group is a global operator of con ventional power plants. We make strategic investments with long-term commitment. We always look for ways to make our business more sustainable, support the local communi ties and take care of the employees.”

Sev.en holds a 50% interest in InterGen N.V. which has interests in the Milmerran and Callide power stations in Queensland.

Sev.en currently operates four gas-fired power plants in the United Kingdom. In the United States, Sev.en owns one of the larg est met-coal producers Blackhawk Mining, LLC and operates nine metallurgical and thermal coal mining complexes in West Virginia and Kentucky

As is normal with a transaction of this nature there are various government approvals and consents that are required and it is expected that, subject to these approvals, the transaction will complete in the coming weeks.

Akaysha Energy Managing Director, Nick Carter

Vales Point Power Station is located on the southern shore of Lake Macquarie near Mannering Park on the northern border of the Central Coast

Chamberlain’s focus on sustainability

IN 2007

THE Chamberlain Group Inc, the largest manufacturer of automatic garage door openers in the world, acquired West Gosford manufacturer Grifco®, an industry leader in the manufacture of commercial and industrial door operators that originally started in 1914.

Since then, the Chamberlain Group has grown the business and become a shin ing example of new-age manufacturing in Australia.Since then, the Chamberlain Group has grown the business and become a shining example of new-age manufacturing in Australia.

Under the management and the vision of Director of Operations and Business Development, Graeme Sheekey, Chamberlain Group has embraced sustain ability as an essential element in the manu facturing of every product they make.

This was highlighted in 2022 when they won the prestigious Hunter Manufacturing Association’s Excellence in Sustainability Award against a field of heavy hitters from the Hunter, Central Coast and New England regions.

“As a successful NSW manufacturer based on the Central Coast, we found ourselves in a very good position to do the right thing by giving back to our community by looking after our environment,” said Mr Sheekey.

“More importantly though, to put plans in place to ensure our company is successful into the future and provide secure worth while jobs for all of our employees.”

Earlier, in 2020, Chamberlain launched their Sustainability Strategy and created a policy statement that spans the entire product cycle so it is embedded in the com

pany’s Business Strategy and day-to-day operations.

This Strategy set out four high level goals to be achieved by 2025:

• Carbon Neutral, 100% recyclable packaging,

• Zero waste to landfill from their manufac turing facility, and

• Eliminate single use plastics.

Chamberlain’s Sustainability Strategy had its origins with the introduction of Lean Manufacturing process Mr Sheekey had introduced a number of years earlier

Lean manufacturing is a production process based on an ideology of maxim ising productivity while simultaneously minimising waste within a manufacturing operation. The lean principle sees waste is

anything that doesn’t add value that the customers are willing to pay for.

Chamberlain drives continuous improve ment programmes for the environmental sustainability of their products, processes and services. This includes:

Energy and water conservation, • Reduction or recycling of waste materials

CNC Robotic Machining cell with Graeme Sheekey Chamberlain Group Director of Operations and Business Development

Chamberlain’s focus on sustainability

as resources,

• Prolonging product life span, and

• Provide effective and convenient equip ment recovery solutions.

As an example, all soft packaging is recycled into long life plasma fence posts for farms, all pallets go to BORG ReDirect Recycling and recycled into panels for join ery applications and product packaging has been redesigned to eliminate the use of polystyrene.

Local packaging company, Phoenix Packaging Solutions designed and manu facture all Chamberlain’s cartons that are also printed with a water based ink to enable them to be recycled after use.

Additionally, new more energy efficient machinery has been installed including robots and state-of-the-art laser cutters.

Mr Sheekey said the company is ahead of their forecasts to reduce carbon emissions by 89% by the end of 2023. “We are well on our path to become a zero waste to landfill manufacturing facility by 2025,” he said.

“We found our employees want to work for a socially responsible company that understands the importance of sustainabil ity and they are encouraged to contribute by having a voice for their ideas to be heard and implemented.

In recent years Chamberlain, in partner ship with Central Coast Industry Connect has established the Central Coast Circular Economy Committee aimed at influencing and driving change in the manufacturing sector on the Central Coast.

Mirait wins major fibre backbone contract

The $80 million cable will be the compa ny’s biggest terrestrial network deployment in over a decade and is the first stage of the $1 billion programme.

At Port Hedland, Project Horizon will interconnect with Vocus’s Project Highclere, a planned $100 million, 40Tbps subma rine cable between Port Hedland and the Australia Singapore Cable.

Mirait Technologies Australia was found ed in 2014 with Japan’s Mirait Technologies Corporation’s investment in CCTS Constructions initially established in 1999.

TUGGERAH BASED MIRAIT Technologies

Australia has won the contract to provide design and construction services for the first competitive fibre backbone between Perth and Port Hedland West Australia.

To be built by one of Australia’s largest fibre and solutions providers, Vocus, the undertaking, which is the first major project under their $1 billion investment pro gramme, known as Project Horizon, is on schedule to begin deployment before the end of this year.

Project Horizon, when completed will will establish a new 2,000km, 38 Terabitper-second fibre route through Australia’s resources region, closing the gap in Vocus’s national fibre backbone connecting all mainland capitals.

Mirait CEO Kerry White said, “Mirait are extremely pleased to be selected by Vocus as their key delivery partner and to design and construct Project Horizon. The comple tion of this crucial link will close the gap in Vocus’s national fibre backbone network.”

Mirait Technologies Australia CEO Kerry White

Map showing Vocus fibre network (blue), Project Horizon (red) and proposed link to Singapore (yellow)

McConaghy Boats delivers 56-foot SY Vasara

NORTH GOSFORD BOAT

builder, McConaghy Boats has announced the delivery of their latest build to its owner in San Francisco.

Vasara, a 56-foot full-custom yacht has been designed and built to ISO Ocean Category A and the offshore Category 1 of the World Sailing Offshore Special Regulations.

Designed by San Diego naval architects Reichel/Pugh Yacht Design and structural engineering by PURE Design & Engineering a New Zealand based engineering consultancy specialising if the design of advanced composite struc tures, Vasara’s design includes many aspects to allow it to effortlessly convert between a comfortable family cruiser to an elite racer.

“Adhering to carefully calculated weight requirements was a crucial factor in the build. Vasara was built for performance and McConaghy’s experience in this field was essential to the successful outcome, said McConaghy Boats General Manager Eric Desjardins.

The layout features a master cabin for ward, a central saloon with a lounge and dining area to port, and a navigation desk to starboard. The saloon is open plan to galley along with two guest cabins and a bathroom.

Commenting on the build, Jim Pugh, President of Reichel/Pugh said, “the Vasara project was a wonderful opportunity to

again work with McConaghy. Our first project with McConaghy was the 50’ Abracadabra in 1988, which went on win the 50’ World Championships. Since then, McConaghy has built many of our winning designs including the Maxi 100’ Wild Oats XI, a nine-time Line Honours winner of the Rolex Sydney to Hobart classic and the 100’ Black Jack (formerly Alfa Romeo), the 2021 Sydney to Hobart Line Honours victor.”

Mr Desjardins said, “we were thrilled to work with Reichel/Pugh on this high-profile project. We were able to provide a competi tive solution and guarantee high quality finishes. Vasara bears all the reliability and strength that is synonymous with the McConaghy name.”

McConaghy employs 40 people at their North Gosford shipyard including four apprentices.

West Gosford hydraulics company Central

Coast Hydraulics & Engineering were one of the many project suppliers.

Founded by John McConaghy in 1967 McConaghy Boats is a world leader in com posite boat construction. They relocated from Brookvale Sydney to North Gosford in 2017 and at that time had eighteen employees.

Defence and aerospace capabilities

McConaghy Boats recently participated in the NSW Government’s initiative to pro mote defence and aerospace industries through their Land Forces 2022 showcase highlighting world-class businesses with these capabilities in NSW.

With the need for light weight, corrosion and fatigue free components being a key performance indicator for industrial, marine and military applications, McConaghy is looking to expand their network displaying their capabilities to potential clients.

McConaghy Boats’ latest build SY Vasara sailing off San Francisco –Photo courtesy of Andrea Francolini

Eric McConaghy Boats’ General Manager Eric Desjardins, at Land Forces 2022

Feds commit to Food Manufacturing and Innovation Hub

Minister launches Central Coast Regional Plan 2041

Minister for Planning and Minister for Homes Anthony Roberts has released the finalised Central Coast Regional Plan 2041 today, which will guide the region’s future over the next 20 years and responds to community feedback.

Shadow Minister, now Minister for Industry and Science, the Hon Ed Husic MP and Member for Dobell Emma McBride (centre) announced in late May that a Labor Government would support the Food Manufacturing and Innovation Hub if elected to government

CENTRAL COAST INDUSTRY Connect

(CCIC), the Central Coast’s lead manufactur ing industry body, was pleased to see that $17.2M had been allocated to the region, for its Food Manufacturing and Innovation hub in the Federal Budget.

A strategic business case for the hub was developed by CCIC late last year with the assistance of Food Innovation Australia Limited and major industry part ner TrendPac. The business case had sup port from regional stakeholders including Regional Development Australia Central Coast, the University of Newcastle and major food manufacturing companies Sara Lee, Mars Food, Sanitarium and Agrana Australia.

It became an election commitment by the now Federal Labor government, after support was given for the project, from Local Member for Dobell Emma McBride and then Shadow Minister for Industry and Innovation, Ed Husic MP.

The project will provide a purpose-built facility to house scale up food businesses, a range of pilot facilities and a skills hub ser vicing the local food and beverage manu facturing sector. It is designed to grow the local food sector and attract food manufac turers from outside the region.

Executive Director of CCIC, Frank Sammut, said, “The Coast has a strong food and bever age manufacturing presence contributing $1.4 billion in output to the region.

This is a key element in the establish ment of a Food and beverage manufactur ing ecosystem in the region”

Coupled with the work CCIC is doing with Star Scientific on hydrogen to produce heat for food processing and our work in managing the industry’s food and trade waste, this project will put the Central Coast on the map as a major contributor to the national food processing industry by becoming a competitive food manufactur ing and innovation destination.

Encouraging more diverse housing, prioritising infrastructure delivery, and revitalising the night-time economy are features of an updated vision for the Central Coast.

“With the region’s population expected to grow by almost 57,000 by 2041, there’s no surprise this booming community is facing housing pressures,” Mr Roberts said.

“Our blueprint identifies actions to boost local housing stock, including encouraging innovative solutions such as tiny homes and 3D-printed housing, and establishing an Urban Development Program Committee to oversee the plan’s implementation.

“The Committee will also monitor the housing supply pipeline and facilitate infra structure coordination to unlock devel opment-ready land, enabling industry to build more homes in the right areas.

“The Central Coast is one of four areas where Urban Development Programs will be rolled out in response to recommen dations made by the Regional Housing Taskforce, with Upper Hunter, Mid-Coast, and the Canberra Region also set to benefit.”

Central Coast Regional Plan 2041

Commenting on the Central Coast Regional Plan 2041 he Urban Development Institute of Australia (UDIA) Central Coast welcomed the Minister’s announcement.

UDIA’s Central Coast Chairman Caine King said, “Our region is experiencing a surge in demand and we just don’t have enough housing or employment land to meet the demand. With government investing in highway and rail upgrades,

State Opposition commits to Gosford Waterfront redevelopment

NSW Opposition Leader, Chris Minns was in Gosford on Saturday 22nd October to announce that when in Government they would provide the $8.5 million funding that Central Coast Council requires to progress to Stage 2 for the Infrastructure Investment Framework that will see the Gosford Waterfront redeveloped.

Mr Minns said that it was time for the Central Coast to get their fair share of gov ernment funding and to make sure that private investment comes into the com munity.

“The Central Coast has been missing out on essential government funds since the present government came to office almost 12 years ago,” he said.

Also present at this announcement was Member for Gosford Liesl Tesch and Member for Wyong and Shadow Parliamentary Secretary for the Central Coast, David Harris. Both committed to the Gosford Waterfront redevelopment.

Member for Gosford Liesl Tesch, Member for The Entrance David Mehan, Opposition Leader Chris Minns, Member for Wyong and Shadow Parliamentary Secretary for the Central Coast David Harris and Darkinjung LALC Chairman Barry Duncan

Planning and Environment

Missing Link a well executed success

MISSING LINK SOCIAL Media is a special ist social media marketing agency based at the Mariners Building in Tuggerah with a team of five.

Perry Henderson founded Missing Link Social Media in December 2012 but his story goes back a while before that.

Going back way beyond 2012 when Perry Henderson was in his final years at school he saw the potential of social media marketing and determined to undertake a business degree at the University of Newcastle with a major in Marketing.

At the time Australian universities were not offering any courses in social media so he enrolled at the Michigan State University in the USA and studied social media marketing.

After completing his Bachelor of Business at UON he continued his studies at The Entourage, a business coaching college where he learned world-class sales strate gies that would facilitate the growth of his business. He paid for this via a micro loan from the NAB bank.

With this knowledge he established Missing Link Social Media with no money but the drive and determination to succeed.

This meant that he would operate the business by day and work two jobs at night and at the weekend. Importantly he had the support of his family

It was a low-risk venture and at that time he was single. Marriage would come a little later.

Additionally, at that time he had few competitors.

The course he undertook at The Entourage taught him the fundamentals of business. “It is all about systems and process es and these enable staff to understand and make day to day decisions enabling me to work on the business and build it,” he says.

He also listened to people and was men tored by his university lecturer Dr Anton Kriz and a year later by Tony Denny the suc cessful businessman who had just set up the Gosford Classic Car Museum. He met Mr Denny because of picking up the Museum as one of his first clients. “I really learned a lot from Tony,” he says.

“Tony was an inspiration, he taught me self-reliance, to look inward for solutions on the basis that no one knows your business better than yourself.”

The DJ agency who he worked for was his very first client and it wasn’t long before he had to move out of home and into an office in the Platinum Building in Erina. This move enabled him to engage his first employee, Melinda Brennan and that was in 2015 and she continues to be very much part of the team.

Today Missing Link Social Media has 25 customers and in recent years turnover has been growing at 25% year on year.

The business is well along the way to becoming a million dollar a year agency.

In 2019 Missing Link was one of seven Finalists in the Social Media Marketing Institute’s Social Media Marketing Awards in the category Best Small Social Media Agency of the Year.

Having got the business onto a solid footing Perry is now concentrating on bal ancing it with his family life.

A couple of years after starting the busi ness he married is long time girl friend who has backed him all the way. With three chil dren and recently moving into a new home the Henderson Family needs a father.

Perry’s day starts at 4.00am and he is in the office by 8.00am having completed an hour’s exercise programme, had breakfast followed up on emails and spent time with the family.

He makes a practice of leaving work at

5.00pm to be with his family for the even ing meal and to put them to bed.

Commenting on how their service has evolved, Perry says, “A few years ago, we started providing new services to help more of our services-based clients close the loop on the enquiries we were generating for them via social media.

After becoming a Certified Consultant of ActiveCampaign, we introduced email mar keting, lead nurturing, and sales CRM setup to our list of services.

As we work through these services with clients, we also establish sales KPIs and processes, including the often-underutilised follow-up process.

It has been amazing to witness the sub stantial impact these services have had on increasing conversion rates, shortening the sales cycle, and lowering the overall cus tomer acquisition cost for our clients”.

The Missing Link Team: Willow Boyd, Lisa Henderson, Beau Cantor, Perry Henderson, Hannah Evans, Christopher Lapa (not in photo Melinda Brennan)

Peter Jackson Menswear, one of Australia’s oldest menswear businesses has opened a store in Erina Fair.

The store was officially opened in late October by Member for Wyong and Shadow Parliamentary Secretary for the Central Coast, David Harris MP.

Store Manager is D’lona Kapje. Ms Kapje has worked with Peter Jackson for many years opening their Balgowlah and Tuggerah stores.

Peter Jackson is one of Australia’s longest operating menswear retailers in Australia having been established in 1948. The brand has 60 stores nationally.

It is the second store for Peter Jackson on the Central Coast which has had a store at Westfield Tuggerah for some years.

Following the closure of the Target department store at Erina Fair, man agers Lend Lease have advised new tenants that will fill the space.

They include:

• Multinational women’s fashion store, H&M,

• Rebel (relocating within the centre),

• City Beach (relocating within the centre),

• EMF Fitness Centre,

• JD Sports – sports fash ion,

• Glue Store, (youth apparel),

• Kidstuff (toys),

• Peter Jackson (men’s fashion), and

• Dangerfield (clothing) Rebel, EFM Fitness and H&M will open in early December.

The Rebel store will be introducing the first of their new rebel Customer Experience (rCX) to the Central Coast with a much larg er format than at their present location.

EFM Fitness is a fitness club franchise group based in South Australia with over 65 clubs nationally. The Erina Fair centre is the ninth in Australia.

For H&M it is their second store on the Central Coast. Their Westfield Tuggerah store that opened in 2019 and spans 2,000

sqm across one level.

In February 2021 H&M announced that they would be shrinking their Australian retail footprint

Erina Fair is comprised of some 273 stores including Myer and major supermarkets, food stores and entertainment venues

Erina Fair is one of the largest regional shopping centres in Australia with 114,805 sqm of Gross Lettable Area.

Some 9.7 million people visit Erina Fair annually while average spend is $65.46 per person (Source: Shopping Centre News).

David Harris MP opens Peter Jackson Menswear at Erina Fair

Member for Wyong and Shadow Parliamentary Secretary for the Central Coast, David Harris MP with Peter Jackson Store Manager, D’lona Kapje at the opening of their new store in Erina Fair

New tenants at Erina Fair

National real estate group Harcourts has opened its fourth franchise office on the Central Coast with the opening in early October of Coastside Property Erina.

Operated by Steve McGowan as an LJ Hooker franchise for the past 26 years the move, Mr McGowan said, allows the busi ness to operate into a wider area of the Central Coast rather than being restricted to the Erina area.

Harcourts Coastside Property employs a team of six with Mr McGowan being Licensee and Principal while his son Darren is Sales Manager and Cherie Nelson is Property Manager.

Well known Central Coast restaurant and café operators Mark and Kristy Martin have been appointed Chief Executive Officer and Chief Operating Officer of the Erina Rugby League Club with the brief to breathe new life into the club.

Most recently both opened and operated the Trojans Restaurant & Sports Bar at the Terrigal Rugby Club following its redevelop ment two years ago.

Operating as a family team the Martins and their three sons have owned a number of cafes in the Erina and Terrigal areas for almost twenty years.

Prior to that they owned the Balgownie Hotel near Wollongong for a number of years and during the time of the Olympic Games managed the Paragon Hotel and Ship Inn at Circular Quay.

The Martins have brought a number of their long time staff with them to the Erina Club and along with a new chef plan to revitalise the Club’s dining and entertainment offer.

Evoke Projects locates at Nexus Workplace design and construction services company, Evoke Projects, has located their Central Coast Office at Nexus Business Hub at North Wyong leasing 50sqm of space.

Evoke Projects team

This quality locally owned and man aged business has been successfully operated by the same owner for over 36 years and is offered for sale for the first time as the owner wishes to retire. The business enjoys an enviable reputation for locking systems and door furniture and is a major supplier of residential and commercial archi tectural hardware across the Central Coast and throughout Australia working with architects, builders and the general public.

Turnover $900,000+ including Online turnover

The current owner will continue to support the new owner

Contact: Derek – 0412 437 327

Evoke is owned

son of the founder of one of Australia’s leading office furniture manufactures, Neil Kennard who founded the original business in the early 70s and based at Lisarow. His brother Nathan continues to run the family busi ness now known as Burgtec.

Since being established by the Wilde Family some ten years ago Nexus has become the premier Next Generation work space with serviced offices and co-working facilities.

Nexus provides extensive services for their tenants including meeting rooms, training rooms, video conferencing.

Significantly, Nexus offers 10 Gigabyte internet, the fastest internet on the Central Coast, soon to be upgraded to 100 Gigabyte.

Argyle Estates

Erina real estate agents change franchise – now Harcourts

Harcourts General Manager, Stephen Hickson and CEO Katrina Tarrant with Darren McGowan, Cherie Nelson and Steve McGowan at the opening of the new Harcourts Erina Office

Mark Martin appointed CEO Erina Leagues

Kristy and Mark Martin

by Jerry Kennard,

Gosford sewer upgrade now well underway

GOSFORD CBD’S WATER and sewer net work upgrade project is progressing, with Central Coast Council having started work earlier this year in March and the entire project is expected to be completed by the end of 2024.

Funded by the NSW Government, through the Housing Acceleration Fund (HAF), and part of a $42.5 million funding package; this critical new water and sewer infrastructure for Gosford aims to futureproof the city.

The funding was announced in May 2018 by then Planning Minister Anthony Roberts as part of the Gosford Revitalisation pro gramme.

Council said that, with forecast popula tion growth, this project will enable the development needed to create a fitting capital for the Central Coast.

The Gosford water and sewer project includes:

• 66 projects – 43 water projects and 23 sewer projects Sites stretching from the Gosford water front, through the Gosford CBD shop ping precinct, to areas in the vicinity of Gosford Hospital and Gosford Golf Course

• Works include two new sewer pump sta tions, new connections to the President’s Hill reservoir zone and to the Gosford Hospital redevelopment, new lower pressure sewer systems to the Gosford Racecourse, and approximately 7.7km of water mains and 6.4km of sewer mains

Council Director Water and Sewer, Jamie Loader, said the next phase of transforming Gosford starts underground.

“Gosford is a rapidly changing city – we’ve seen a number of major developments com pleted and a great deal more are planned and forecast – so it is vital that we have the water and sewer infrastructure in place to ensure Gosford’s potential is realised,” Mr Loader said.

“Some key works around Gosford Hospital were completed early to meet the demands of the newly upgraded facility, this included increasing pipeline diameters and constructing a ring main around the hospital to improve surety of supply.

“We are now moving forward with the remaining program of works that will be

key to ensuring the revitalisation of Gosford is realised.”

Sewer projects underway from March 2022, include:

• Replacement of sewer rising main for pumping stations at Showground Road

• Replacement of sewer pump station at Showground Road and associated gravity mains, rising main and PSS works (works will include construction activity at Adcock Avenue, Central Coast Highway, Young Street and Racecourse Road)

• Replacement of sewer gravity mains in Mann Street and Masons Parade

Council’s Façade Improvement Support Program to open

The Façade Improvement Support Program will provide $120,000 to eligible Central Coast businesses and commercial property owners to enhance their building facades and improve accessibility to their premises with dollar-for-dollar matched fund ing. Applications will open from 1 November 2022.

Council Director of Community and Recreation Services, Melanie Smith said the program is being piloted at four town centres on the Coast and will contribute to town centre revitalisation and support visitation.

“A total of $120,000 in funding will be available to provide financial

assistance to businesses and com mercial property owners located in the town centres of Wyong, Gosford, The Entrance and Toukley,” Ms Smith said.

“This funding will support the enhancement of facades, and improve access, aesthetics, and overall visi tor experience. The dollar-for-dollar matched funding will be provided for the cost of works, labour, and materials to a maximum value of $5,000 (ex GST) per property.

This is a pilot program and if it is suc cessful may be able to be rolled out to other town centres across the Coast in the future.”

Council Administrator, Rik Hart said

Council’s Façade Improvement Support Program builds the community’s capacity to take part in revitalisation across the Coast.

“This funding is a chance for our businesses and commercial property owners to take part in revitalising our town centres, by updating their façades and improving accessibility to enable all members of the community to enjoy the amenities on offer.” Mr Hart said.

The program opens for applications on 1 November and closes at midnight on 30 November 2022. To review the funding guidelines and to apply visit centralcoast.nsw.gov.au/grants

Contractors, Eire Construction carrying out sewer upgrade at Masons Parade, Gosford

Coast economy in decline

WITH MORE DATA becoming available from the 2021 Census as well as economic data for the Financial Year 2021-22 this is showing a clearer picture of the state of the regional economy.

Gross Regional Product has declined over the past two years after a growth spurt from 2016 to 2019.

It is possible that this could be due to issues around the failure of the Central Coast Council following amalgamation.

However, with millions of dollars of investment capital tied up in delayed Development Approvals (see below) and the region’s major economic driver being the building and construction industry the slowdown in growth while other regions are growing should be cause for concern.

Reflecting this decline the number of employed people in the region has also declined from a high in 2019 after annual increases from 2016.

Gross Regional Product

Gross Regional Product is the wealth generated by businesses, organisations and individuals working in the Central Coast.

The past 20 years has seen the region’s GRP increase by 21.9% from $12,426 million to $15,143 million in 2021 (June 30) – around 1% per year.

In the years from 2001 to 2015 growth stagnated while in the fol lowing 4 years we saw a growth spurt through to 2019 and since then growth has dropped back to 2018 levels.

Population

The Australian Statistician released the first tranche of the results of the 2016 Census in July 2022 revealing that the Central Coast’s population has grown by 18,860, up 5.75% since the last Census five years ago.

This is a little over 1% per annum and aligns with the Department of Planning’s 2036 Growth Strategy (now superseded by the Central Coast Regional Plan – 2041 which sets out no growth projections).

Over the past 20 years the Central Coast’s population has grown by 61,088 or 21.4%. Since 2006, the population has grown at around 1% per year. Earlier years had seen growth drop to near zero.

Central Coast Population 2001 - 2021

Year Number People Change over 5 years %age change

2021 346,596 +18,860 +5.75 2016 327,736 +19,106 +6.19 2011 308,630 +14,920 +5.08 2006 293,710 + 8,202 +2.87 2001 285,508

Source: ABS Census data

Community Profile – Age structure (see Table below)

Median age of the population of the Central Coast is 43 years and compares with 39 years for NSW and backs up the region’s reputa tion for being a retirement area.

The population of the age group from 0–39 years is 160,022 which represents 46.2% of the total and compares with 51.2% of the NSW population.

The population of the age group 60+ years is 99,339 representing 28.7% of the population and compares with 23.4% for NSW.

However, there is growing evidence that a younger demographic is moving into the region:

Following the growth of several high-rise residential develop ments over the past five plus years the median age of the popula tion in the suburb of Gosford has remained unchanged at 35 years – much lower than 43 years, the median age for the whole region.

In the growth suburbs of Hamlyn Terrace, Wadalba and Woongarrah the median age is 35 years which is by far the young est suburb on the Central Coast.

Gross Regional Product - Central Coast Council area 2001 to 2021

Financial Year $GRP $m % Change on previous year

2021 15,143 +0.41

2020 15,082 -2.95

2019 15,540 +1.61

2018 15,293 +2.18

2017 14,967 +3.35

2016 14,481 +3.46

2015 13,996 +0.70 2014 13,899 +0.98 2013 13,765 +0.84 2012 13,651 +0.02 2011 13,653 +2.03 2010 13,380 +7.77 2001 12,426 0

Source: NIEIR and .id

Central Coast Community Profile with NSW comparison

Central Coast NSW

Median age 43 yrs 39 yrs

Median personal income $727 $813

Midian family income $1,954 $2,185

Median household income $1,507 $1,829

Median mortgage repayment (monthly) $2,000 $2,167

Median rent (weekly) $400 $420

Average household size 2.5 2.6

Source: ABS Census data

Central Coast age structure (with NSW comparison)

Age structure

Central Coast % of total NSW % of total

0 – 4 years 19,421 5.6 5.8

5 – 19 years 63,207 18.2 18.1

20 – 39 years 77,394 22.3 27.5

40 – 59 years 87,234 25.1 25.2

60-69 years 43,152 12.6 11.0

70 years + 56,187 16.2 12.4

Total 346,595 100.0 100.0

Source: ABS Census data

Local employment

This indicator shows the estimated number of jobs in the Central Coast, on an annual basis back to 2001. The dataset is derived from the National Economics microsimulation model, based on the ABS labour force survey, and is generally higher than the figure provided by Census, because it is updated every year, and is not subject to Census undercount.

Over the past 10 years the number of Local Jobs on the Central Coast has grown from 111,115 to 119,781 or 7.8% over the period. At the same time the population has grown from 308,630 to 346,596 or 12.3%

Over the 20-year period the number of Local Jobs has increased at a faster rate than the population growth.

Value of total building approvals 2010 to 2021

Financial Year

Residential $ (’000) Non-residential $ (‘000) Total $ (‘000) %age + or -

2022 631,318 307,063 938,381 +13.63

2021 559,251 266,563 825,814 +4.20

2020 423,184 369,366 792,549 +0.55

2019 572,232 224.670 796,902 -15.89

2018 682,527 264,871 947,398 +16.26

2017 487,131 327,754 814,885 +18.45

2016 551,957 136,025 687,982 +18.31

2015 371,926 209,563 581,488 +13.20

2014 329,573 184,078 513,651 +40.44

2013 241,052 124,700 365,742 +10.09

2012 216,782 115,434 332,218 -26.49

2011 350,235 101,692 451,927 -26.92

2010 303,855 305,636 609,491

Source: ABS Building Approvals and .id

Employment by industry

Industry

Local Jobs – Central Coast Council area 2001 to 2021

Financial Year Number % Change on previous year

2021 119,781 +0.57 2020 119,101 -2.55 2019 122,219 +0.59 2018 121,502 +2.17 2017 118,920 +1.57 2016 117,084 +4.26 2015 112,304 -0.26 2014 112,600 -0.11 2013 112,721 +2.04 2012 110,467 -0.58 2011 111,115 +2.99 2010 107,889 +0.75 2001 94,191 +14.6

Source: NIEIR and .id

Building approvals

The value of development approvals has fallen over the past four years reflecting delays in Central Coast Council’s processing of development applications. This has resulted in a buildup of around 1,000 applications within Council’s Planning Department (CCBR September 2022 Potentially 10,000 jobs tied up in outstanding DA’s). However, disfunctional planning procedures introduced by the NSW Department of Planning in recent years has exacerbated the problem.

The past 10 years has seen a roller coaster ride for development approvals on the Central Coast and tends to reflect the attitudes of councils through this period.

Central Coast Council was created by the amalgamation of Gosford and Wyong Councils in 2016.

2021 2016 %age + or -

Agriculture, Forestry & Fishing 1,046 1,236 -0.15

Mining 813 661 -23.00

Manufacturing 8,317 8,711 -4.52

Electricity, Gas, Water, Waste Svc 1,529 1,543 -0.91

Construction 13,288 11,535 +15.20

Wholesale Trade 2,196 2,263 -2.96

Retail Trade 13,240 15,501 -14.58

Accom and Food Services 9,555 11,001 -13.14

Transport, Postal, Warehousing 5,397 3,610 +49.50

Information, Media, Telecoms 1,415 1,445 0 Financial, Insurance Services 2,457 2,405 -2.16

Rental, Hiring, Real Estate Svc 1,882 2,200 -318

Professional, Scientific, Tech Svc 6,057 5,397 +12.22

Administrative and Support Svc 4,969 4,428 +12.21

Public Administration 6,868 5,900 +16.41

Education and Training 10,777 10,102 +6.68

Health Care & Social Assistance 23,081 21,949 +5.16

Arts & Recreation Services 1,585 1,876 -15.51

Other Services 5,308 5,232 -1.39

Total industries 119,781 117,084 +2.30

Source: NIEIR and .id

The largest employing industries are:

Health Care and Assistance which represents 19.26% of all Local Jobs, Construction – 11.09%

Retail Trade – 11.05%

Education and Training – 9.00%

Accommodation and Food Services – 7.98%

Manufacturing – 6.94%

Of these industries, Construction has been the fastest growing over the past 5 years at 15.2% for the period.

G T Technologies buys Somersby factory A&R Gearbox & Turbine Technologies (GT Technologies), specialists in the mainte nance and repair of industrial gearbox and turbine power transmissions, has purchased an industrial property at 38 Somersby Falls Road, Somersby.

Price paid for the property comprising 2 sheds totalling 648sqm on a 3,461sqm fully fenced and secure site was $2 million (GST not applicable).

Unit 1 of 360sqm has office, bathroom and lunchroom facilities, and Unit 2 of 288sqm is a 10m high clearance warehouse with the provision for a gantry crane.

Karen Aubrey from LJ Hooker Commercial Central Coast negotiated the sale.

Pharmaceutical company buys Somersby warehouse unit

Investor buys Tuggerah freestanding factory / warehouse on 5.8% return

Pharmaceutical company, Lacuna Pharma has purchased Unit 21 of 268sqm at 21 Kangoo Road, Somersby paying $870,000 (GST not applicable).

The unit comprises a 215sqm ground floor warehouse space and 53sqm open plan mezzanine with amenities.

The unit is one of a 22-unit complex at the entry to the Somersby Industrial Estate.

Karen Aubrey from LJ Hooker Commercial Central Coast negotiated the sale.

LEASINGS

An accountant has leased Suite 10 of 102 sqm in Riverside Park, 69 Central Coast Highway, West Gosford.

The suite, on the first floor comprises reception, store room, meeting suite with large board table and shared amenities.

Terms of lease are 2 years with 2 year option at a rental of $51,070 per annum

Two investors have partnered to buy a freestanding factory / warehouse at 14 Mildon Road, Tuggerah paying $2,660,000 (GST not applicable).

The 1,403sqm building comprises fac tory floor area of 1,194sqm plus office and amenities built around 30 years ago on a 2,025sqm lot.

including Outgoings and GST.

Karen Aubrey from LJ Hooker Commercial Central Coast negotiated the lease.

Disability business leases at West Gosford

Access Automobility Pty Ltd has leased Unit 4 and 373 Manns Road, West Gosford. The 340sqm unit comprises 282sqm

The property is leased for 5 years plus options out to 2036 at a commenc ing rental of $155,000 per annum plus Outgoings and GST providing the buyer with a net return of 5.8% per annum.

Ty Blanch and Brett Dowling from L J Hooker Commercial Central Coast nego tiated the sale.

ground floor space including amenities and 58sqm mezzanine with solar panels and 3 vehicle parking space exposure to Manns Road and access via Marston Close.

Terms of lease are 2 years with 2 year option at a rental of $40,800 per annum plus Outgoings plus GST.

Karen Aubrey from LJ Hooker Commercial Central Coast negotiated the lease.

Features

•

Accountant leases West Gosford suite

does a day’s work actually

By Warwick Ryan, Partner, Hicksons Lawyers

A FAIR DAY’S work for a fair day’s pay is the basis for large portions of the Australian Workplace Relations system, and the way many businesses approach their work week. But what does a fair day’s work really look like? Like much of our Workplace Relations system, the answer is not com pletely straight forward. Today’s employers need to ask themselves important question including:

- What are the maximum number of hours an employer can request a staff member works in a single shift?

- How long is a working day?

It would be easy to assume that the 8-hour workday is the basic standard, and a couple of extra hours might be OK for a single shift. This is not always accurate. Depending on your industry, modern awards often have specific provisions that determine how long an employee can be required to work and what other requirements or employer obligations come with that.

Excessive Work Hours - A Comparison

There is a surprising divide between Awards above what is considered excessive hours. This means that employers need to care

fully check the requirements for their busi ness type.

For example, at the one extreme, employees in the Live Performance Industry (Live Performance Award – Production Staff) working longer than standard hours during specific events (like filming shows for reality television) is not at all uncom mon. In fact, even though the award speci fies the maximum ordinary hours of as 12 hours, employees under this award can be asked to work from 6am to 10pm (14 hours) with some breaks in the middle – all at ordinary hours rates.

By contrast, an administrative employee under the Clerks (Private Sector) Award has a maximum shift length of only 10 ordinary hours, unpaid breaks excluded (that is, you don’t count the breaks when adding up the 10 hours).

Rostering Shifts of More than 12 hours –Can it be Done?

While each modern Award will be different (as you can see between the two examples above), most awards limit the number of ‘ordinary hours’ to a maximum of 10 or 12 hours.

Generally, there are no restrictions stop ping employers requesting employees working beyond then – except that they will have to pay a premium for it (at overtime rates). In fact, the Building & Construction General Onsite Award contemplates people work ing up to 20 hours in shift (subject to crib breaks).

Within the Awards, the primary control on employers requiring employees to work long hours is that a minimum ‘break’

Minister launches Central Coast Regional Plan 2041

our fast pace of change is expected to accelerate. It is critical to plan now for this growth to ensure the region can supply enough jobs and housing that is affordable for the local population.”

UDIA commends the Regional Plan’s focus on delivering ‘development ready’ housing supply to address the Coast’s growing housing shortage, by having enough sites that are zoned, serviced with enabling infrastructure and have resolved biodiversity con

siderations. The Regional Plan creates a new Urban Development Program (UDP) Committee for the Central Coast, where the Department of Planning and Environment, Council, government agencies, infrastructure providers and industry will come together to understand the develop ment pipeline and ensure the Coast has enough housing and jobs.

UDIA is pleased that the Regional Plan has been finalised and released.

between shifts is required. This refers to the minimum amount of time between an employee finishing one shift and starting the next one - usually 10 hours.

However, even this is not mandatory, if the employer is willing to pay an elevated rate (double time or similar) when the employee starts work again the following day.

However, while ‘maximum’ hours are subject to some flexibility, rostering staff for extended periods can have WHS implica tions. Businesses need to be aware of these implications and establish additional meas ures for maintaining a safe work environ ment and managing employee fatigue.

So, before requiring employees to work very long shifts, employers need to con sider any potential WHS ramifications for employees of extended long hours. This is especially critical where the employee is travelling before or after the shift. In response, businesses may need to develop a fatigue management plan. For some industries, (for example, the transport industry), fatigue management is highly regulated and employers in these industries should ensure that appropriate policies and procedures are in place.

Given all the aspects to be considered, employers can’t assume that every shift can, or should be, 8 (or more) hours, or that overtime payments are the only cost. Attention to the relevant Awards and some careful reading of the legal requirements can save businesses from exposure to costly claims later.

Warwick Ryan can be contacted at Hicksons Lawyers Email: Warwick.Ryan@ hicksons.com.au

We look forward to helping deliver on its vision for the Central Coast’s grow ing population.

The Urban Development Institute of Australia (UDIA) NSW is the state’s leading industry body representing the interests of the urban devel opment sector. UDIA brings an evidence-based, solutions-focused approach to advocating for the crea tion of liveable, affordable, and con nected smart cities

What

mean and what are the maximum hours in a shift?

MIND YOUR BUSINESS

By Troy Marchant, Director, Adviceco Chartered Accountants

Time

register for mandatory Director ID numbers

ALMOST TWO THIRDS, or 1.6 mil lion company directors across Australia have not yet applied for their Director ID number. The ATO’s new registration scheme has a deadline of 30 November 2022 for directors appointed on or before 31 October 2021, so it is abso lutely critical that directors of companies and SMSFs get cracking.

The scheme has been introduced by the ATO to prevent phoenix and fraudu lent activity by directors. If a director commits fraud under one company, a Director ID will prevent that director from setting up a new company and committing the same crime.

Failure to have a Director ID by the deadline, or failure to apply when direct ed by the registrar, can carry a maximum criminal penalty of $13,200 or up to $1,100,000 under civil law.

Who needs one?

You need a Director ID if you direct a: company

• Aboriginal and Torres Strait Islander corporation

• corporate trustee, for example, of a self-managed super fund charity or not-for-profit organisation that is a company or Aboriginal and Torres Strait Islander corporation

• registered Australian body, for example, an incorporated asso

ciation that is registered with the Australian Securities and Investments Commission (ASIC) and trades out side the state or territory in which it is incorporated

• foreign company registered with ASIC and carrying on business in Australia (regardless of where you live).

How to get one?

Your accountant can help you to decide if you need one and walk you through the process, however they can not apply on your behalf. All Directors need to apply in person. The first thing to do is check that you can access your personal MyGovID and that you have your personal identification documents handy.

If you anticipate difficulty in meeting the deadline of 30 November, you need to let us know ASAP as communication with the Australian Business Registry Services is critical in avoiding penalties: mail@adviceco.com.au

is running out to

WHEN A GUY’S printer type began to grow faint, he called a local repair shop where a friendly man informed him that the printer probably needed only to be cleaned. Because the store charged $50 for such cleanings, he told him he might be better off reading the printer’s manual and trying the job himself. Pleasantly sur prised by his candor, he asked, “Does your boss know that you discourage business?” “Actually, it’s my boss’s idea,” the employee replied sheepishly. “We usually make more money on repairs if we let people try to fix things themselves first.”

Fresh out of business school, the young man answered a want ad for an account ant. Now he was being interviewed by a very nervous man who ran a small business that he had started himself. “I need some one with an accounting degree,” the man said. “But mainly, I’m looking for someone to do my worrying for me.” “Excuse me?” the accountant said. “I worry about a lot of things,” the man said. “But I don’t want to have to worry about money. Your job will be to take all the money worries off my back.” “I see,” the accountant said. “And how much does the job pay?” “I’ll start you at eighty thousand. ” Eighty thousand dollars!” the accountant exclaimed. “How can such a small business afford a sum like that? “That,” the owner said, “is your first worry.”

A man phones a lawyer and asks, “How much would you charge for just answering three simple questions?”.

The lawyer replies, “A thousand dollars”.

“A thousand dollars!” exclaims the man. “That’s very expensive, isn’t it?”

“It certainly is,” says the lawyer. “Now, what’s your third question?”

While prosecuting a robbery case, I conducted an interview with the arresting officer. My first question: “Did you see the defendant at the scene?”

“Yes, from a block away,” the officer answered.

“Was the area well lit?”

“No. It was pretty dark.”

“Then how could you identify the defendant?” I asked, concerned.

Looking at me as if I were nuts, he answered, “I’d recognize my cousin any where.”

An accountant and a lawyer were laying on a beach in Hawaii sipping mai tai’s. The lawyer started telling the accountant how he came to be there. “I had this downtown property in Memphis that caught fire and after the insurance paid off, I came here.”

The accountant said, “I had a downtown property, too, in Miami. It got flooded so here I am with the insurance proceeds.” The lawyer took another sip of his mai tai, and then asked in a puzzled voice, “How do you start a flood?

A businessman was interviewing job applications for the position of manager of a large division. He quickly devised a test for choosing the most suitable candi date. He simply asked each applicant this question, “What is two plus two?” The first

interviewee was a journalist. His answer was, “Twenty-two”. The second was a social worker. She said, “I don’t know the answer but I’m very glad that we had the oppor tunity to discuss it.” The third applicant was an engineer. He pulled out a slide rule and came up with an answer “somewhere between 3.999 and 4.001.” Next came an attorney. He stated that “in the case of Jenkins vs. the Department of the Treasury, two plus two was proven to be four.” Finally, the businessman interviewed an account ant. When he asked him what two plus two was, the accountant got up from his chair, went over to the door, closed it, came back, and sat down. Leaning across the desk, he said in a low voice, “How much do you want it to be?” He got the job.

An accountant visited the Natural History Museum. While standing near the dinosaur he said to his neighbor: “This dinosaur is two billion years and ten months old”.

“Where did you get this exact informa tion?”

“I was here ten months ago, and the guide told me that the dinosaur is two bil lion years old.”

Quote of the month

“Price is what you pay, value is what you get.”

Warren Buffett

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