According to reports, DEXUS Property Group will be successful in their bid to acquire the Commonwealth Property Office Fund (CPA). If this bid proceeds as predicted, it will see a number of large A Grade office towers move under the ownership of DEXUS.
Q: What is happening to CPA (CFS) Buildings?
According to recent reports, DEXUS Property Group will be successful in their bid to acquire the Commonwealth Property Office Fund (CPA). If this bid proceeds as predicted, it will see a number of large A Grade office towers move under the ownership of DEXUS.
Q: Who is DEXUS Property Group?
When the acquisition is complete, DEXUS will become the largest property owner in the Australian office space market.
DEXUS is one of Australia’s leading real estate groups, investing directly in high quality Australian office and industrial properties. With over $13 billion of assets under management, Dexus manage industrial and retail properties along with office properties in Sydney, Melbourne, Perth and Brisbane. DEXUS made a net profit of $514.5 million for the 2012/13 financial year and they expect to lift earnings by 5.2% for the next financial year.
Q: What does this mean for cleaners?
The Commonwealth Property Office Fund, is a reputable owner in the commercial office sector. CPA supported quality building services, including cleaning, and were a market leader in the introduction of Clean Start standards across their buildings five years ago. CPA has worked with cleaners and United Voice to ensure the fair treatment of cleaners across their sites.
While DEXUS have supported the introduction of Clean Start standards across their buildings for cleaners in the past, their current commitment is falling behind the efforts of other reputable owners in the top end of the market.
To date, Dexus has not committed to fund the small wage increase cleaners are fighting for from their employers. Cleaners are only seeking 99c per hour as well as increased regulation of sub-contracting and Health & Safety practices. Like CPA, Dexus outsources cleaning to specialised cleaning companies who in turn employ cleaners. These companies cannot afford to pay increases without the support of property owners like Dexus.
Q: What is Clean Start?
Cleaners, along with their union United Voice, are currently renegotiating the Clean Start standard across Australia’s major office markets. Originally won in 2008 through enterprise agreements, Clean Start is about raising the standard of cleaning through improving the pay, conditions, training and the supervision of cleaners. Clean Start works because it is a market-wide approach that raises standards for everyone at the same time.
Q: What is next?
Cleaners are working hard to strike a fair deal with cleaning companies at Dexus (and now CPA) sites. Cleaners have not received any pay rise since July 2012 and just want to settle on pay and conditions that are fair. You may see (or hear) noisy protest actions by cleaners and community supporters who are fighting for a Clean Start from their employers at these buildings across your city. We hope Dexus come to the party and help cleaning companies fund Clean Start rates and importantly the standards that ensure quality cleaning.