DOCSLIB.ORG

Melbourne City Model Portfolio Two

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Melbourne City Model Portfolio Two Melbourne City Model Portfolio Two i Contents EXECUTIVE SUMMARY 1 ABOUT SPRING FG REALTY 1 INVESTMENT RANGES AND OPTIONS 1 HOW TO INVEST 1 MELBOURNE PORTFOLIO 2 PORTFOLIO MARKET 2 Summary list and objectives 5 The Grove - Oak, Brunswick West 5 Night Fall, South Melbourne 6 Gravity Tower, South Melbourne 8 Shadow Play, South Melbourne 9 PORTFOLIO SUBURBS 10 Brunswick West 10 South Melbourne 10 Southbank 11 KEY ABS STATISTIC BY PORTFOLIO SUBURBS 12 PORTFOLIO DEVELOPERS 13 WHY AN OFF-THE-PLAN PORTFOLIO 14 THE GENERAL RISKS OF PROPERTY INVESTMENT 14 CONCLUSION 15 DISCLAIMER AND FEES 15 i Executive Summary direct and SMSF residential real estate investment. Spring FG Realty Pty Ltd has partnered with Spring Financial Group clients hold residential DomaCom Australia Limited to offer multi-property property investments exceeding $500M in value. residential portfolios through DomaCom’s fractional investment platform. The portfolios take advantage of Investment ranges and options DomaCom’s multi-property book-build functionality Domacom multi-property portfolios prepared by offer a direct property solution with immediate Spring FG Realty are available from as little as $10,000 diversification across multiple properties, developers giving the investor exposure to up to five (5) properties and locations. in different geographic locations. The portfolios are open to retail and wholesale An investment of $25,000 gives an investor exposure investors through Domacom-accredited advisers or to up to ten (10) properties. directly by opening a Domacom account. In accordance with DomaCom fund rules all $100,000 or more provides exposure to up to 15 properties have been independently valued by properties in different geographic locations. a leading valuation house. All properties include The model portfolios offered in the first release of window furnishings, depreciation schedules, third- portfolios designed by Spring FG Realty comprise a party quality inspections on settlement and first tenant total of in excess of $25M of high-quality inner-city and/or rental guarantee periods of a minimum of 42 Melbourne and Brisbane residential assets developed days and up to 90 days providing investors further by Australia’s leading public and private company peace-of-mind. developers. Each of the developers, developments and individual Each of the projects is under development properties in the assembled portfolios has passed construction with various expected completion dates Spring FG Realty’s stringent due diligence processes over the next 6-18 months. to facilitate not only inclusion in the DomaCom portfolios but investment by Spring Financial Group How to invest direct investing clients. Investment in this portfolio is available to direct About Spring FG Realty investors by opening an account with Domacom or through a Domacom-accredited financial adviser. Spring FG Realty Pty Ltd is a wholly-owned subsidiary of ASX-listed diversified financial group Spring FG You should also download and read the Domacom Limited (ASX: SFL) and part of the Spring Financial Product Disclosure Statement (PDS) and consider the Group. information contained therein before making any decisions regarding the products. It holds corporate real estate licences in New South Wales (1708663), Queensland (3510266), Victoria Please note that this information memorandum has (074746L) and ACT (18401881). Its role in the Spring been prepared without taking into account your Financial Group is to research and identify residential objectives, financial situation or needs. Before acting property solutions for inclusion in portfolios of Spring on any information contained herein we recommend Financial Group clients. that you consider whether it is appropriate for your circumstances and consider obtaining advice from a Spring FG Limited (Spring FG) is a diversified financial suitably qualified adviser. services company offering financial planning and investment advice; wealth management; insurance and superannuation; finance; and tax & accounting services. Its advice and product offerings are broad and include a specialisation in the high-growth markets of self-managed superannuation funds (SMSFs); and 1 Melbourne Portfolio Melbourne, Victoria Market: Melbourne Victoria has one of the strongest economies and enviable lifestyles in the developed world. Number of properties: Its economy is highly diversified with particular Total 4, consisting of 2 x 1-bed and 2 x 2-bed strengths in finance, manufacturing, research, IT apartments and education. Logistics, agriculture, resources Portfolio value: and transportation and tourism also contribute. $2,127,000 (excluding stamp duty) Victoria is headquarters for many of Australia’s Suggested investment size*: largest corporations, including five of the ten largest $10,000 to $100,000 in the country (based on revenue), and four of the Anticipated gross rental yield*: largest six in the country (based on share market 4.5% pa capitalisation). Anticipated annual capital growth over 10-year cycle*: Victoria is Australia’s industrial centre with a very 4.2% pa wide variety of manufacturers, ranging from petrochemicals, aircraft parts and pharmaceuticals Spring FG’s Melbourne Portfolio consists of four (4) and biotech to fashion garments, paper luxurious apartments across four landmark projects by manufacturing and food processing. two leading Melbourne developers BPM Group and Like Queensland, Victoria is of course not immune to Blue Earth Group. global economic factors and the potential for global economic weakness but its economy is diverse and as The portfolio has been assembled with investors with such risk is spread. a minimum of $10,000 and up to $500,000 to invest in mind. Economically Melbourne is as diverse as Victoria with *Based on Spring FG Realty’s market analysis of historical 10 and 15 year sales data and prevailing trends. much of the State economy based in the city. It is an important financial centre. Two of the big-4, NAB and Portfolio market ANZ are headquartered in Melbourne and the city has carved out a niche as Australia’s leading centre The Melbourne Portfolio has been assembled to for superannuation funds, with 40% of the total, and deliver investments that will provide a sound balance 65% of industry funds including the $40 billion-dollar of rental returns with strong capital upside in future Federal Government Future Fund. years. Our goal in assembling the portfolio is to strike the right balance between buying great real estate The city is also home to Australia’s largest and and achieving superior investment outcomes. busiest seaport which handles more than 3,100 ship movements every year and around 37% of the Rental yields will vary across the portfolio relative to nation’s container trade. market conditions at settlement and from time-to- Melbourne is of course the second most populous time however we have carefully selected the included city in Australia. And its population is growing rapidly. properties to a) offer an edge hen offering the assets to According to the ABS, Melbourne’s population grew the rental market to ensure minimum vacancy across by 647,200 from 2001 to 2011. In subsequent years the the life of the investments; and b) endeavour to growth has actually accelerated with an incredible ensure demand from investors and owner-occupiers 91,593 in the 12 months to June 2015 bringing the alike when offering the assets for sale in future years. trailing 10-year average to 83,212 pa. The underlying logic of constructing the portfolio This is the strongest growth in raw numbers of any city across Melbourne is set out below with further Australia-wide (Melbourne has led population growth information on each of the specific portfolio in Australian capital cities for the last 15 consecutive properties and the included suburbs and localities years) and it is forecast to continue. including in later sections. 2 The ABS forecasts Melbourne’s population to grow to between 7.6M and 9.8M by 2061 with its mid-and-top end forecasts suggesting it strips Sydney of its most- populous city title by that time. This population growth is being driven by a combination of interstate and regional migration; and significant immigration. The trends are long-term and sustainable. The desirability of Melbourne is a driving factor in its population growth and therefore demand for property this is reflected by the fact that Melbourne is the only city in the world to win the Economist Magazine’s highly-coveted “World’s Most Liveable City award” an amazing five times, most recently in 2015. Development Developer Apart. Suburb State Bed Bath Car Total sqm Price The Grove Blue Earth 3514 Brunswick West Vic 2 2 1 78 $585,000 Night Fall BPM 701 South Melbourne Vic 2 2 1 78 $635,000 Gravity Tower Blue Earth 201 South Melbourne Vic 1 1 0 67 $485,000 Shadow Play BPM 1102 Southbank Vic 1 1 0 46.9 $422,000 Total portfolio value (excluding stamp duty) $2,127,000 3 4 Summary list and objectives Each of the five properties in the Melbourne Portfolio is summarised in the table above. The portfolio has been assembled with an objective of striking the right balance between buying great real estate and achieving superior investment outcomes. Key to this is investing in suburbs and localities with the right fundamentals. Our default position has been to include properties close to the CBD in Melbourne and/or in areas with a solid mix of (most or all of) infrastructure and amenity such as transport, education, health care, recreational and retail and high centralised The building will be 8 storeys high and will feature employment. We have targeted more affluent a mix of 115 one, two & three bedroom residential and desirable areas and areas that have already apartments in addition to ground floor retail. undergone, or are well advanced with, urban renewal and gentrification. The Grove is located: The underlying logic for the inclusion for each of the • 600m to the nearest Tram Stop properties is provided below with further information • 650m to Brunswick North West Primary School on suburbs, localities and portfolio developers in later • 2.1km to Essendon High School sections.
Load more

Recommended publications
  • THE REGISTRY MEL5CI '!\1 ': T (ACN 115 145 134) ~------Respondents
    IN THE HIGH COURT OF AUSTRALIA No M 253 of2015 MELBOURNE OFFICE OF THE REGISTRY Between CROWN MELBOURNE LTD (ACN 006 973 262) Appellant COSMOPOLITAN HOTEL (VIC) PTY L TD (ACN 115 145 198) FISH AND COMPANY (VIC) PTY LTD THE REGISTRY MEL5CI '!\1 ': t (ACN 115 145 134) ~------------------- Respondents APPELLANT'S CHRONOLOGY Part 1: Certification These submissions are in a form suitable for publication on the internet. Pa.. t TT • .a a-.. .a..a.. l'b'-' ...a onoln~,la.av•veJ' ''·?-::.: l, ,, ~ ~~i. Date I~{ Event ,_j,~~T ;t~ ;:.,;~ ,Y ' ReJer~p.ce ,•· . - .,. ~ 1997 The restaurants 'Cafe Greco' and 'Waterfront' commence Tribunal operation in the Crown Casino complex, under leases Reasons [2] between Crown and two companies controlled by Mr Nick Zampelis, to expire on 31 May 2005. October- Mr Boesley on behalf of Crown first writes to Mr Tribunal November 2004 Zampelis, enquiring about his intentions in relation to Reasons [42] the 'Cafe Greco' and 'Waterfront' premises after the existing leases expire. 5 May 2005 Crown sends summaries of the terms and conditions of Tribunal proposed new leases to Mr Zampelis, which involve a 5 Reasons [44] year term and a major refurbishment of the premises 31 May 2005 The first leases for the 'Cafe Greco' and 'Waterfront' Tribunal premises expire Reasons [3] 1 Terms defined in the Appellant's submissions dated 29th January 2016 have the same meaning in this chronology Filed on behalf of the Applicant Date of Filing 29 January 2016 Minter Ellison Tel Minter Ellison Rialto Towers Fax Rialto Towers 525 Collins
    [Show full text]
  • Review of Crown Resort's Responsible Gaming Programs And
    CRW.526.007.7005 Review of Crown Resort’s Responsible Gaming Programs and Services A report from the Responsible Gaming Advisory Panel Prepared by: Independent Responsible Gaming Advisory Panel Alexander Blaszczynski PhD (Chair), Rawdon Consultancy Paul Delfabrro PhD, Professor, Adelaide University, Australia Lia Nower JD, PhD, Professor, Rutgers University, USA August 2020 CRW.526.007.7006 2 Terms of Reference Crown Resorts Ltd. (“Crown”) has requested the independent advisory panel to provide an assessment of Crown’s Responsible Gambling Framework. The terms of reference included a review of current responsible gaming practices, policies and procedures, identification of existing strengths, and, importantly, the identification of gaps or weakness that required attention. Crown has requested that the Panel consider the recommendations contained in the 2018 Sixth Review of the Casino Operator and Licence and build upon and extend Crown’s responsible gambling framework to achieve evidence-based best practice benchmark standards. The objectives of Crown are to establish a responsible gambling framework that (a) positions Crown as a leader in the delivery of effective responsible gambling services, and (b) integrates a culture of responsible gambling that is embedded in all aspects of processes, strategic initiatives and operational decisions. In considering the terms of reference, the Panel undertook to evaluate and the following matters: 1) Crown’s Responsible Service of Gaming (RSG) practice in light of the Corporate Policy Statement;
    [Show full text]
  • City of Melbourne Electronic Gaming Machine Review Draft Background Report October 2017 This Report Was Prepared by Symplan on Behalf of the City of Melbourne
    City of Melbourne Electronic Gaming Machine Review Draft Background Report October 2017 This report was prepared by Symplan on behalf of the City of Melbourne. Disclaimer Symplan produces work of the highest professional and academic standards. Symplan has taken all the necessary steps to ensure that an accurate document has been prepared. Readers should therefore rely on their own skill and judgement when applying any information or analysis presented in this report to particular issues or circumstances. © Symplan 2017 Contents Acronyms ....................................................................................................................................................... iii Glossary ......................................................................................................................................................... iv 1 Introduction .............................................................................................................................................. 1 1.1 Background .................................................................................................................................... 1 1.2 Structure of the Report ................................................................................................................... 1 2 Stakeholder engagement ........................................................................................................................ 3 3 City of Melbourne strategic and community context ...............................................................................
    [Show full text]
  • 2009 Yearbook, Which Coincides with LV’S Experiencebank 30 20Th Anniversary
    Leadership Victoria Yearbook 2009 Our Mission Leadership Victoria LEADERSHIP VICTORIA IS AN INNOVATIVE, INDEPENDENT, NOT-FOR-PROFIT ORGANISATION DEVELOPING PEOPLE WHO EXERCISE POSITIVE AND ENDURING LEADERSHIP IN AND FOR THE REAL WORLD. Yearbook 2009 Table of Contents Message from the Chairman 6 Message fron the Executive DIrector 8 A Letter to Hugh Williamson 10 Williamson Community Leadership Program 14 WCLP – 2009 Fellows 16 WCLP and the Victorian Bushfire Reconstruction and Recovery Authority 26 Welcome to the Leadership Victoria (LV) WCLP – 2009 Guest Speakers 28 2009 Yearbook, which coincides with LV’s ExperienceBank 30 20th Anniversary. ExperienceBank — 2009 Guest Speakers 37 This publication serves to recognise individuals Praise for ExperienceBank 38 graduating from our Williamson Community SkillsBank 41 Leadership and ExperienceBank programs. Praise for SkillsBank 42 It also highlights some of the achievements Organisations supported by LV 44 made through LV’s community engagement LV Alumni 46 programs: ExperienceBank and SkillsBank. LV Council Members 2009 60 These formal programs help meet the needs LV Alumni Representitive Group of community organisations by matching skilled Convenor’s Report 2009 63 LV Alumni to specific projects, and enabling LV Staff 64 our Alumni to enhance the wellbeing and Our Sponsors 66 development of the broader community. Thank You 67 We warmly welcome the current graduates of the Williamson Community Leadership Program and the 2008 ExperienceBank programs as Alumni of LV. 5 Message from the Chairman Garry Ringwood I am pleased to congratulate and welcome our 2009 is the 20th Anniversary of Leadership Victoria 2009 Alumni — this year’s Williamson Community and while that is significant, this year also marks the Leadership Fellows and ExperienceBank Associates.
    [Show full text]
  • Hotel Sector
    HOTEL SECTOR Rider Levett Bucknall is an independent, global property and construction practice with over 3,500 people in more than 120 offices across Asia, Oceania, Europe, Middle East, Africa and the Americas. Services provided include Cost Management, Project Management and Advisory Services. The firm is committed to delivering high quality outcomes through advice focused on the cost, quality and sustainability of the built environment. The Practice can trace its roots back to the 18th century and prides itself on its dedication to customer care and leading edge, quality service provision. Building Cost Ranges and International Construction Cost Relativities areBuil davailableing Cost Rangin thees RLB and IntelligenceInternational SmartphoneConstruction CoAppst Randelat viaiviti ethes RLBare ava Desktopilable in WebApp. the RLB Int Furtherelligence information Smartphon cane App be and found via thate rlbintelligence.comRLB Desktop WebApp. Further information can be found at rlbintelligence.com To download our free App visit rlb.com/app or scan the QR code. CONTENTS Overview 1 Hotel Star Rating 3 Common Issues 4 Existing Hotels Strategy 7 Cost Commentary 8 Cost Model 11 Scope of Works & Specs 14 Selected Projects 16 Disclaimer: While the information in this publication is believed to be correct at the time of publishing, no responsibility is accepted for its accuracy. Persons desiring to utilise any information appearing in the publication should verify its applicability to their specific circumstances. Cost information in this publication is indicative and for general guidance only and is based on rates at 3Q 2014. OVERVIEW Rider Levett Bucknall works with hotel investors, developers, operators and brand managers to develop and refurbish hotels across the world.
    [Show full text]
  • Notice of Filing
    NOTICE OF FILING This document was lodged electronically in the FEDERAL COURT OF AUSTRALIA (FCA) on 16/03/2018 4:56:45 PM AEDT and has been accepted for filing under the Court’s Rules. Details of filing follow and important additional information about these are set out below. Details of Filing Document Lodged: Defence - Form 33 - Rule 16.32 File Number: VID1317/2017 File Title: ZANTRAN PTY LIMITED v CROWN RESORTS LIMITED Registry: VICTORIA REGISTRY - FEDERAL COURT OF AUSTRALIA Dated: 16/03/2018 4:56:48 PM AEDT Registrar Important Information As required by the Court’s Rules, this Notice has been inserted as the first page of the document which has been accepted for electronic filing. It is now taken to be part of that document for the purposes of the proceeding in the Court and contains important information for all parties to that proceeding. It must be included in the document served on each of those parties. The date and time of lodgment also shown above are the date and time that the document was received by the Court. Under the Court’s Rules the date of filing of the document is the day it was lodged (if that is a business day for the Registry which accepts it and the document was received by 4.30 pm local time at that Registry) or otherwise the next working day for that Registry. Form 33 Rule 16.32 Defence to Statement of Claim No. VID1317/2017 Federal Court of Australia District Registry: Victoria Division: General ZANTRAN PTY LIMITED (ACN 078 669 155) Applicant CROWN RESORTS LIMITED (ACN 125 709 953) Respondent By way of Defence to the Applicant's Statement of Claim dated 4 December 2017 (Statement of Claim), the Respondent (Crown) says as follows.
    [Show full text]
  • Docklands & South Wharf
    Ascot Vale Station ET TRE S S RLE CHA D A O R N O RAS Showgrounds OAD I GS R N Get off Route LAN U here to enter showgrounds G Ascot Vale G E Royal Melbourne P S O G Showgrounds M R O A Showgrounds Station D D A O R mins Stop – E Sandown Road/ L A to Main Gate V Flemington Epsom Road Flemington Racecourse T E Racecourse Station Get off Route O D C Get off Route S A here to enter VENUE R A A here to enter A TH P The showgrounds R O the racecourse R SW E Hill Gate N H R IS A F mins F to Main Gate Main Gate The Stop – Elms The Grandstand Flemington Drive entrance Flemington Drive/ mins Gate Epsom Road Get off Route here to Main Gate mins to enter the racecourse to Main Gate Epsom Road/ Ascot Vale Road D R Get off Route O P mins here to enter showgrounds P S to Flemington T Flemington R Drive entrance E E T Racecourse Newmarket Station RA CE CO mins Stables Drive UR entrance SE RO to Main Gate AD BA LL AR AT R OAD T OA D R E D IEL Gatehouse Drive/ ITHF RE SM Smithfield Road T Get off Route RE S here to enter O O the racecourse M Footscray Kensington Footscray Station TRAIN TRACKS = OFFSET PT North Melbourne Docklands & South Wharf map Transport North Melbourne DRIVE Metropolitan train service DOCKLANDS Regional train service ­ ­ Regional coach service ­ Tram service ­ ­ Bus service Skybus service mins LA TROBE STREET Gates to La Trobe Street Melbourne Bike Share G G G Tram route YARRA RIVER Tram stop Central Pier ­ Bus route Etihad G Bus stop mins Stadium LONSDALE STREET ­ ­
    [Show full text]
  • Australia's Integrated Resort Company Crown Limited
    Crown Limited Annual Report 2010 Australia’s Integrated Resort Company “ Annually, over 24 million visitors enjoy the world-class facilities we have on offer in Melbourne and Perth. Many of our visitors are from interstate and international destinations which makes Crown Melbourne and Burswood important tourism drivers for Australia.” James Packer, Executive Chairman Hotels From premium luxury to creature comforts, Crown’s two Australian integrated resorts offer 2,300 guest rooms across fi ve hotels. Dining With a wide range of cafes, casual restaurants and fi ne dining establishments across Crown Melbourne and Burswood, the discerning diner has a myriad of delicacies to choose from. CROWN LIMITED ANNUAL REPORT 2010 i Gaming From the exclusive sophistication of world-class VIP gaming rooms to the excitement of the main gaming fl oors, unparalleled gaming experiences are on offer at Crown Melbourne and Burswood. ii CROWN LIMITED ANNUAL REPORT 2010 Events Whether hosting a glamorous gala ball, an international conference, a corporate event or an intimate celebration, Crown Melbourne’s and Burswood’s pre-eminent facilities will impress. CROWN LIMITED ANNUAL REPORT 2010 iii Entertainment Local and international guests alike are captivated by world-class entertainment from large capacity rock concerts to musicals, comedy shows, ballets and theatre. iv CROWN LIMITED ANNUAL REPORT 2010 Shopping Louis Vuitton, Versace, Burberry, Prada, Saba, Raoul and G-Star are just some of the designer names in the wide retail offerings across Crown’s Australian
    [Show full text]
  • Presentations
    FY2017 Interim Results November 2016 Disclaimer This document has been prepared by Far East Consortium International Limited (the “Company”) solely for information purposes. By accepting this document, you agree to maintain absolute confidentiality regarding the information disclosed in this document. This document does not constitute or form part of and should not be construed as, an offer to sell or issue or the solicitation of an offer to purchase or subscribe securities (the “Securities”) of the Company or any of its subsidiaries or affiliates in any jurisdiction or an inducement to enter into investment activity. In particular, this document and the information contained herein are not an offer of the Securities for sale in the United States and are not for publication or distribution to persons in the United States. The document is being given to you on the basis that you have confirmed your representation that you are not located or resident in the United States and, to the extent you purchase the Securities described herein you will be doing so pursuant to Regulation S under the United States Securities Act of 1933, as amended (the “Securities Act”). The information contained in this document has not been independently verified. No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, reliability, accuracy, completeness or correctness of such information or opinions contained herein. The presentation should not be regarded by recipients as a substitute for the exercise of their own judgment. The information contained in this document should be considered in the context of the circumstances prevailing at the time and has not been, and will not be, updated to reflect material developments which may occur after the date of the presentation.
    [Show full text]
  • Travel Guide Options to & from Crown Melbourne
    TRAVEL GUIDE OPTIONS TO & FROM CROWN MELBOURNE TRAINS Southern Cross Station & Flinders Street Station are the 2 closest train stations to Crown Melbourne. There are numerous train lines in Melbourne which run to these stations.Travelling on Public Transport in Melbourne requires you to have a MYKI card (please refer to MYKI section) Southern Cross Station – 700m from Crown and 4 mins away on Public Transport Flinders Street Station - 850m from Crown and 9 mins away on Public Transport Train Timetables can be found on the following link https://www.ptv.vic.gov.au/timetables Select Mode of Transport> Search your train line > View timetable to City in PDF Southern Cross Location Map Southern Cross Station Crown Melbourne Flinders St Station Location Map Flinders St Station Crown Melbourne TRAMS Crown Metropol by Tram (Event Spaces: Metropol Meeting Rooms) Closest Tram stop for Crown Metropol is Stop 125 Port Junction/79 Whiteman St (Southbank) on the 96 (East Brunswick-St Kilda) Tram from Southern Cross Spencer Street. Alternatively you can go on Tram 109 (Port Melbourne to Box Hill) or 112 (St. Kilda to West Preston) which depart from Collins Street. Southern Cross Station Take Tram 96 from Southern Cross Station to stop 125 Port Junction\Whiteman St and walk across the road to reach Crown Metropol Crown Metropol Crown Towers by Tram (Event Spaces: Level 1 – Palladium, Aviary. River & Garden Rooms) Closest Tram stop for Crown Towers is Stop 3 Market St/Flinders st on tram 75 Etihad Stadium Docklands – Vermont South from Flinders St. Flinders St Take Tram 75 from Station Flinders St Station to stop 3 Market St/Flinders St and walk across the bridge to Crown Towers Crown Towers Crown Promenade by Tram (Event Spaces: Level 1 – Promenade, M Rooms, Crown Conference Centre – Exhibition Hall, Conference Hall) Closest Tram stop for Crown Promenade is Stop 124a – Casino/MCEC/Clarendon St on tram 96 (East Brunswick-St Kilda) Tram from Southern Cross.
    [Show full text]
  • Royal Commission Into Crown Melbourne
    ASX/MEDIA RELEASE FOR IMMEDIATE RELEASE 22 February 2021 ROYAL COMMISSION INTO CROWN MELBOURNE MELBOURNE: Crown Resorts Limited (ASX: CWN) (Crown) announced today that it has been informed by the Victorian Government that it has established a royal commission into Crown Melbourne Limited’s (Crown Melbourne) suitability to hold its Victorian casino licence, as well as the suitability of its associates, including Crown (Royal Commission). Crown has also been informed that Raymond Finkelstein QC has been appointed as Commissioner and Chairperson of the Royal Commission and will hand down his recommendations by 1 August 2021. Copies of the Media Release and terms of reference issued by the Victorian Government are attached. Crown will fully co-operate in relation to the Royal Commission and will continue to engage with the VCGLR and the Victorian Government in relation to its reform agenda and any further remedial steps identified in response to the NSW ILGA Inquiry. Helen Coonan, Crown’s Executive Chairman, said: “Crown welcomes the announcement from the Victorian Government as it provides an opportunity to detail the reforms and changes to our business to deliver the highest standards of governance and compliance, and an organisational culture that meets community expectations. “Victorians should be assured we recognise the responsibility placed on us by the community, governments and regulators and we will fully cooperate with the Royal Commission.” ENDS This announcement was authorised for release by the Disclosure Committee. Investor
    [Show full text]
  • Crown Melbourne Covidsafe Plan 2021
    Crown Melbourne COVIDSafe Plan 2021 COVIDSafe Plan Crown Melbourne COVIDSafe Crown Melbourne’s priority remains keeping our guests, our employees and the community safe. A COVIDSafe Plan has been developed to support a safe reopening of the property for our guests and maintain a COVIDSafe workplace for our employees. Crown continues to take advice and adhere to public health directions and recommendations in order to remain compliant throughout its operations considering the COVID Safe principles. These include: Physical Distancing Face Masks Hygiene and Enhanced Cleaning COVID-19 Response and Contact Tracing Indoor and Outdoor Spaces Crown will monitor adherence to this plan and with new advice and recommendations, and where appropriate adjust this plan, ensuring Crown Melbourne provides a COVIDSafe environment for all who visit, work with and use our facilities. 1. Physical Distancing Physical distancing requirements and capacity limitations on venues are in place to ensure all Victorian Government and health department directives. Awareness materials advising of the physical distancing requirements are displayed throughout the complex. Total occupancy of indoor spaces has been assessed and limited to the appropriate density quotient as advised by Department of Health and Human Services. Signage and guidance material, including floor markings, are displayed to assist in awareness and adherence to physical distancing protocols. Where appropriate, screens and barriers have been installed. Furniture, workstation layouts and configurations have been adjusted to meet these requirements. All employees are required to undertake COVID-19 training prior to returning to the workplace. This includes requirements for physical distancing and awareness of public health directions. Page 1 April 2021 Crown Melbourne COVIDSafe Plan 2021 A series of COVID-19 Safety Alerts have been developed which support the COVID-19 training and provide up to date information 2.
    [Show full text]