Pub Banc Group and Hotel Banc Group — A Summary

Who We Are

Pub Banc Group Pty Ltd and Hotel Banc Group Pty Ltd (Pub Group) have been operating four successful venues on ’s waterfront for the past nine years. The venues operated by the companies are Cargo Bar, Jack Greene, Observatory Bar and the Telegraph Hotel.

Cargo Bar and Jack Greene are located in , Observatory Bar at Murray Street Pier and the Telegraph Hotel on Morrison Street.

Management Team All venues are managed by an experienced team and are they also shareholders in the business. A hands-on approach by management has ensured the venues are run and maintained at the highest level, in terms of customer service, security and product quality.

Ian Vaughan is Managing Director and Liquor Licensee of all venues in the Pub Group portfolio and has been in this role for 8 years. Ian has been involved in hospitality and management for over 25 years. He oversees all day to day Company business and deals with all major stakeholders and he has been involved in all previous venue development and construction that Pub Group has undertaken previously.

Damian Bush is Group Operations Manager and has been in this role for 8 years. Damian has been involved in hospitality for 20 years and he has managed numerous hotels over that time and he has a wealth of knowledge in relation to food, beverage and new venue development. He oversees all daily operations across the group.

Joe Zucco is Operations Manager and he been in this role for 4 years. He has over 13 years hospitality experience and his knowledge of food and beverage is extensive. Joe has worked in numerous restaurants and bars around Hobart and he also brings international experience having worked in management roles in Canada. He oversees daily operations across the group.

Pub Banc Group Pty Ltd & Hotel Banc Group Pty Ltd 19 Morrison Street, HOBART TAS 7000 GPO Box 101, HOBART TAS 7001 Tel: 03 6224 3761

Shareholder Team

Brett Skirving is Chairman of the shareholder group and acts as a liaison between operational management and group shareholders. He is responsible for equity and debt funding and supervising the financial operations of the group. Brett is a senior partner at international accounting firm, BDO Hobart. He has invested in a wide range of Tasmanian properties and businesses, and works closely with his clients, many of whom are prominent Tasmanian businesses and high-net-wealth families.

Super Woolstore Pty Ltd owns the multi-award winning Old Woolstore Hotel. In recent years Super Woolstore has acquired the Hobart icon Hadleys Hotel and restored the hotel to its former glory, after many years of neglect and operational failure under prior owners. The founder and major shareholder of Super Woolstore is Don Neil, who built and operated the Old Woolstore successfully. Don formed a partnership with Cbus to build stage two of the hotel, taking the total number of rooms to 242, before successfully buying it out. In recent years Don has reduced his stake in the group by selling to a number of Tasmanian investors, but still retains a majority holding and is an active Chairman to the business.

Dr David Warren has become one of the state’s leading philanthropists, recently making headlines due to a $2.6m donation to the University of . Dave has long been a financial supporter of the University and other worthwhile projects, including private sponsorships. He is a current director and shareholder of Altium, a company he co-founded in Tasmania in the mid ’80s, which has gone on to become an international leader in its field. Altium has a current market capitalisation of over $1.2 billion. He is a welcome supporter of Tasmanian businesses and businesspeople, assisting many with seed funding so they may become established. He has a diverse range of investments in Tasmania and is passionate about investing in his home state.

Aaron Hogan has been the owner and operator of Flippers on the waterfront since his early 20s. Through hard work and prudent saving Aaron has been able to invest in a wide range of Tasmanian property and businesses.

Pub Banc Group Pty Ltd & Hotel Banc Group Pty Ltd 19 Morrison Street, HOBART TAS 7000 GPO Box 101, HOBART TAS 7001 Tel: 03 6224 3761

What We Do

Cargo Bar and Jack Greene both operate seven days a week, from 11am to late, 364 days a year. Observatory Bar operates on Wednesday, Friday and Saturday night, while the Telegraph Hotel is open from Wednesday through to Saturday.

Cargo Bar specialises in wood-fired pizzas and wine while Jack Greene offers a great range of burgers and beers. The Observatory Bar is a nightclub with a function room and lounge, catering to a wide range of occasions. The Telegraph Hotel is well known for its value-for- money counter meals and live entertainment.

Between the four venues, our Group employs between 140–170 staff depending on seasonality. A lot of effort is put into training our staff, not just in customer service and product knowledge but also in areas such as organisational health and safety, anti- discrimination and the responsible service of alcohol.

Pub Banc Group Pty Ltd & Hotel Banc Group Pty Ltd 19 Morrison Street, HOBART TAS 7000 GPO Box 101, HOBART TAS 7001 Tel: 03 6224 3761

Our plans for the development of Murray Street Pier

The ground floor of the Murray Street Pier is highly visible and desirable location on Hobart’s waterfront. Unfortunately, it has lain vacant for the past couple of years and prior to that its occupiers failed financially. We recognised that a major improvement was needed to enable businesses to operate successfully in the space, which in turn would have the benefit of reconnecting people to the waterfront. We have been fortunate to have the strong support of the Liberal Government via Minister Hidding as well as the support of Tasports. The dilapidated “marina” has been removed and our proposal will enable businesses and the public to enjoy the prime waterfront position 365 days a year by undertaking a world-class development of the external waterfront areas. In the history of the Murray Street Pier, people have only been able to enjoy a close connection to the waterfront when the weather is fine and sunny — the result has been minimal usage.

We want to change that and are willing to spend a vast amount of money on the property to ensure it is successful.

We believe it will complement recent improvements in the area such as the widening of the footpaths around Morrison Street and refurbishment of Princes Wharf No 1.

We have engaged leading interior designer Paul Kelly of Paul Kelly Design, Sydney, who also designed Cargo, Jack Greene and Observatory Bar. We have been fortunate to secure Patrick Stanton as our project manager and the team has devised a two-stage approach for the development of Murray Street Pier.

Stage One

Stage one proposes the development of a new restaurant with a Mexican theme at the front and north side of the building, including an extensive outdoor all-weather seating area as well as the overall refurbishment of the entire building.

The costs associated with the works to be completed in stage one have been estimated at $3 million. We believe the substantial investment will vastly increase the overall appeal of the area around Murray Street Pier and help connect the waterfront with Salamanca .

Should we receive council approval in a timely manner we will finalise stage one and open the new venue in February 2017.

Pub Banc Group Pty Ltd & Hotel Banc Group Pty Ltd 19 Morrison Street, HOBART TAS 7000 GPO Box 101, HOBART TAS 7001 Tel: 03 6224 3761

The new restaurant will trade seven days a week and is expected to employ approximately 40 staff members. It will be managed by the same experienced team as our other successful venues.

Stage Two

Stage two will see another investment of at least $1 million for the establishment of a restaurant with a fish and chips theme at the rear and south side of the building, including an outdoor seating area with an appealing view of Salamanca Place.

Pending council approval, we are looking at opening this restaurant in June 2017.

Under the guidance of the existing management team, this new restaurant will also trade seven days a week and is expected to employ approximately 20 staff members.

Pub Banc Group Pty Ltd & Hotel Banc Group Pty Ltd 19 Morrison Street, HOBART TAS 7000 GPO Box 101, HOBART TAS 7001 Tel: 03 6224 3761 ^ Minister for Infrastructure 'S r Minister for Police, Fire and Emergency Management Level I, Office HOBART TAS 7000 Tasmanian Ph: (03) 6165 7686 Government

12 OCT 2016

Mr Brett Skirving Partner BDO Level 8, 85 Macquarie Street HOBART TAS 7000

By email: Brett-Skirvin bdo.com.au

Dear Brett

Thank you for your time recently to reveal your company's plans for the Murray Street Pier. I acknowledge that the negotiations with Tasports over the next 20 year lease for this site were stressful and protracted, but I do agree with you that the outcome will now allow you to undertake a major redevelopment of this landmark site. With the somewhat derelict marina removed and the development footprint on the wharf finally agreed, I am very keen to see your major investment in the site underway. I am delighted to see that your architects have addressed the previously "dead" areas of the waterfront, including the area currently housing umbrellas, as well as the space between the waters edge and the current window wall of the restaurant.

As a regular visitor to our beautiful waterfront, I have usually avoided these arcas as they have felt like private property and I was intruding. Clearly, most of the visitors to the area over the last 20 years thought so too as I rarely saw people in that area. To see your designs address this "dead space" in such an inviting way is a very good outcome. The fact that Tasports has granted you a long-term lease over the wharf deck right to the water's edge is instructive as it is an organisation that thinks carefully about public access and enjoyment of the waterfr-ont in .

Your substantially increased lease costs cleaHy take into account your ability to develop your entire footprint, with no "dead spots".

Your company's challenge has been to design a major rebuild of a tired, but iconic waterfront site in a way that adds to amenity of the entire waterfront, for visitors and locals alike. Your comPany' a stand-out leader in the food and dining sector of the hospitality industry of Hobart has proposed a major investment in a ver/ classy, inviting and user-friendly ground floor development, complemented by the clever use of indoor/outdoor treatments to deal with the vagaries of Hobart's weather Youarctobe commended forthis offerin§ to Hobart's economy and I wish the project all the support it deserves at its planning and building permit stages.

Yoursjsincgrely

Hon M.T. (Rene) Hidd/hg MP Minister for Infrastructd