property compendium...07 property location nla % of commercial portfolio book value 1 gross office...

ProPerty comPendium31 december 2010

mirvac is a leading asx-listed real estate grouP

2 core divisionsinvestmentdeveloPment

investment

70 investment grade assets in direct real estate investments

mirvac group ProPerty comPendium04

investment

101 miller street, north sydney, nsw

05

mirvac ProPerty trust PortFolio exPiry ProFile 1

1 BYBOOKVALUEASAT31dEcEmBEr2010.EXcLUdESdEVELOPmENTASSETS.2 BYBOOKVALUEASAT31dEcEmBEr2010.EXcLUdESdEVELOPmENTASSETSANdiNdirEcTPrOPErTYiNVESTmENTS.3 OTHEr–iNcLUdESHOTELANdcArPArKS.

mirvac ProPerty trust PortFolio diversiFication

SECTOR DIVERSIFICATION 1

GEOGRAPHIC DIVERSIFICATION 2

■ OFFICE 57.2%

■ INDUSTRIAL 6.5%

■ RETAIL 30.6%

■ OTHER 1.7% 3

■ INDIRECT PROPERTY INVESTMENTS 4.1%

■ NSW 61.3%

■ VIC 15.3%

■ QLD 14.1%

■ ACT 8.3%

■ SA 0.3%

■ US 0.6%

AREA %

RETAIL PORTFOLIO474,035 sqmWALE 6.4

0

40

50

60

70

30

20

10

VA

CA

NT

FY

11

FY

12

FY

13

FY

14

FY

15

BE

YO

ND

TOTAL PORTFOLIO 2

1,337,501 sqmWALE 6.2

0

40

50

60

70 AREA %

30

20

10

VA

CA

NT

FY

11

FY

12

FY

13

FY

14

FY

15

BE

YO

ND

INDUSTRIALPORTFOLIO259,818 sqmWALE 4.9

0

40

50

60

70 AREA %

30

20

10

VA

CA

NT

FY

11

FY

12

FY

13

FY

14

FY

15

BE

YO

ND

OFFICEPORTFOLIO 2

603,648 sqmWALE 6.7

0

40

50

60

70 AREA %

30

20

10

VA

CA

NT

FY

11

FY

12

FY

13

FY

14

FY

15

BE

YO

ND

1 BYArEAASAT31dEcEmBEr2010.2 EXcLUdESASSETSUNdErdEVELOPmENT.


investment

oFFice PortFolio

1 BYBOOKVALUEASAT31dEcEmBEr2010.EXcLUdESdEVELOPmENTASSETSANdiNdirEcTPrOPErTYiNVESTmENTS.

GRADE DIVERSIFICATION 1


■ PREMIUM 5.1%

■ A GRADE 83.7%

■ B GRADE 10.4%

■ C GRADE 0.8%

■ NSW 66.0%

■ VIC 13.7%

■ QLD 7.1%

■ ACT 12.6%

■ SA 0.6%

275 Kent street, sydney, nsw

07

property location nla

% oF commercial portFolio BooK value 1

gross oFFice rent

valuation at 31 Dec 10

101–103millerStreet NorthSydney,NSW 37,472sqm 5.1% $665/sqm $163.5m2

40millerStreet NorthSydney,NSW 12,664sqm 3.0% $637/sqm $97.2m

60margaretStreet Sydney,NSW 41,025sqm 5.0% $690/sqm $158.0m2

1castlereaghStreet Sydney,NSW 11,643sqm 2.3% $614/sqm $72.5m

190GeorgeStreet Sydney,NSW 9,493sqm 1.1% $439/sqm $36.8m

200GeorgeStreet Sydney,NSW 5,579sqm 0.8% $445/sqm $24.8m

275KentStreet Sydney,NSW 77,125sqm 23.2% $786/sqm $745.0m

Onedarlingisland Pyrmont,NSW 22,197sqm 5.5% $527/sqm $175.0m

Baycentre,Pirramaroad Pyrmont,NSW 15,972sqm 3.4% $556/sqm $110.0m

3riderBoulevard rhodes,NSW 16,713sqm 2.4% $387/sqm $76.3m

5riderBoulevard rhodes,NSW 25,073sqm 3.5% $371/sqm $112.0m

1WoolworthsWayNSO BellaVista,NSW 44,828sqm 7.8% $431/sqm $250.0m

55coonaraAvenue WestPennantHills,NSW 34,080sqm 3.0% $304/sqm $99.0m

StGeorgecentre,60marcusclarkeStreet canberra,AcT 12,045sqm 1.6% $463/sqm $51.5m

AviationHouse,16FurzerStreet Philip,AcT 14,814sqm 2.2% $408/sqm $69.8m

SiriusBuilding,23FurzerStreet Philip,AcT 46,167sqm 7.3% $395/sqm $233.0m

54marcusclarkeStreet canberra,AcT 5,283sqm 0.5% $419/sqm $15.8m

38SydneyAvenue Forrest,AcT 9,099sqm 1.1% $411/sqm $35.0m

189GreyStreet SouthBank,QLd 12,728sqm 2.1% $386/sqm $67.5m

JohnOxleycentre,339coronationdrive milton,QLd 13,172sqm 1.6% $409/sqm $52.3m

340AdelaideStreet Brisbane,QLd 13,290sqm 1.7% $531/sqm $56.0m

12cribbStreet milton,QLd 3,310sqm 0.4% $533/sqm $12.6m

33corporatedrive cannonHill,QLd 4,218sqm 0.5% $338/sqm $17.8m

19corporatedrive cannonHill,QLd 6,028sqm 0.7% $405/sqm $23.0m

riversideQuaySouthbank melbourne,Vic 31,455sqm 4.5% $459/sqm $143.8m

royaldomaincentre,380StKildaroad melbourne,Vic 24,574sqm 3.3% $393/sqm $106.6m

comocentre,cnrToorakroad&chapelStreet SouthYarra,Vic 25,674sqm 2.7% $387/sqm $86.3m

191–197SalmonStreet Portmelbourne,Vic 21,763sqm 3.2% $373/sqm $102.3m

1HughcairnsAvenue BedfordPark,SA 6,164sqm 0.5% $341/sqm $17.8m

total 603,648 sqm 100.0% $3,355.4m 3

WeigHteD average lease eXpiry 6.7 years 4

occupancy 98.0% 4

1 BOOKVALUEASAT31dEcEmBEr2010.EXcLUdESdEVELOPmENTPrOJEcTS.2 BOOKVALUErEPrESENTS50%iNTErEST.3 iNcLUdESASSETSHELdFOrdEVELOPmENT(SEEPAGE98).4 EXcLUdESASSETSUNdErdEVELOPmENT.


investment

oFFice PortFolio

101 – 103 miller street, north sydney, nsw 40 miller street, north sydney, nsw

Description

ThislandmarkpremiumgradeofficetowerandmajorretailcentreislocatedintheheartoftheNorthSydneycBdwithadirectlinktoNorthSydneyrailwayStation.Thecomplexwasbuiltin1992andunderwentamajorrefurbishmentin2008.Thebuildingwasthefirstexistingpremiumtowertoachievea5starGreenStarratingandisdesignedtoachievea5starNABErSrating.

Description

developedbymirvacin2000,thebuildingislocatedadjacenttoNorthSydneyrailwayStationandenjoyscommandingviewsoftheharbourfromall11commerciallevels.Outdoorbalconiesprovideanadditionalamenityfortenants.Thisbuildinghasachieveda4starNABErSrating.

summary inFormation

GrAdE PremiumGrade

OWNErSHiP 50%mPT,50%EUrEKA

NLA 37,472sqm

cArSPAcES 561

AcQUiSiTiONdATE Jun94

VALUATiONAT31dEc10 $163.5m

VALUEr cOLLiErSiNTErNATiONAL

LASTEXTErNALVALUATiONdATE 31dec10

cAPiTALiSATiONrATE 7.00%

diScOUNTrATE 9.00%

GrOSSOFFicErENT $665/sqm

maJor tenants nla sQm lease eXpiry

rTA 15,614 Jul16

cOmmONWEALTHOFAUSTrALiA 7,492 Jul18

summary inFormation

GrAdE AGrade

OWNErSHiP 100%mPT

NLA 12,664sqm

cArSPAcES 110

AcQUiSiTiONdATE mar98


VALUEr dirEcTOrSVALUATiON

LASTEXTErNALVALUATiONdATE 30Jun10


diScOUNTrATE 9.25%



UNiTEdGrOUPLimiTEd 10,935 Nov15

TiBcOSOFTWArEAUST 980 Oct12

lease eXpiry proFile % area

VAcANcY 1.5%

FY11 0.0%

FY12 0.0%

FY13 0.9%

FY14 22.0%

FY15 0.8%

BEYONd 74.8%

WALE 5.4 YEArS


VAcANcY 0.0%

FY11 0.7%

FY12 0.5%

FY13 11.2%

FY14 0.0%

FY15 1.3%

BEYONd 86.3%

WALE 4.4 YEArS

09

60 margaret street, sydney, nsw

Description

ThisiconicbuildingissituatedintheheartoftheSydneycBdandcomprises36levelsofofficeaccommodationandthreelevelsofretailingwithdirectaccesstoWynyardrailwayStationandBusTerminal.developedin1980,thecomplexhasbeenprogressivelyrefurbishedandistheheadofficeofmirvac.

summary inFormation

GrAdE AGrade

OWNErSHiP 50%mPT,50%mTAA

NLA 41,024sqm

cArSPAcES 141

AcQUiSiTiONdATE Aug98


VALUEr SAViLLS



diScOUNTrATE 9.00%



mirVAc 8,182 Sep15

rEUTErSAUSTrALiA 5,384 Feb15


VAcANcY 1.4%

FY11 4.3%

FY12 25.0%

FY13 11.7%

FY14 8.0%

FY15 13.1%

BEYONd 36.5%

WALE 3.5 YEArS

1 castlereagh street, sydney, nsw

Description

LocatedinthecentreofSydney’sfinancialcore,thebuildingoffersmodernofficeaccommodationwith549sqmfloorplatesanddirectnaturallightonthreesides.The21levelbuildingwasfullyrefurbishedin1992withfurtherpartialrefurbishmentcompletedin2007.

summary inFormation

GrAdE BGrade

OWNErSHiP 100%mPT

NLA 11,643sqm

cArSPAcES 52

AcQUiSiTiONdATE dec98





diScOUNTrATE 9.50%



mAcTHOrPESErVicES 627 Jan15

HAYGrOUP 550 Aug15


VAcANcY 17.2%

FY11 4.5%

FY12 15.4%

FY13 20.1%

FY14 10.8%

FY15 8.0%

BEYONd 24.0%

WALE 5.6 YEArS


190 george street, sydney, nsw 200 george street, sydney, nsw

Description

Thisisastrategicholding,givingmirvacapresenceinaprominentareaoftheSydneycBd,whichhaspotentialforcommercialredevelopment.Thesitehasbeenconsolidatedwiththeadjoiningbuildingownedbymirvac.

Description

Thisisastrategicholding,givingmirvacapresenceinaprominentareaoftheSydneycBd,whichhaspotentialforcommercialredevelopment.Thesitehasbeenconsolidatedwiththeadjoiningbuildingownedbymirvac.

summary inFormation

GrAdE BGrade

OWNErSHiP 100%mPT

NLA 9,493sqm

cArSPAcES 30






diScOUNTrATE 9.50%



cLiFTONS 3,405 dec14

dOWNErEdiLTd 1,703 Aug11

summary inFormation

GrAdE cGrade

OWNErSHiP 100%mPT

NLA 5,579sqm

cArSPAcES 15

AcQUiSiTiONdATE Oct01





diScOUNTrATE 9.50%



cLiFTONS 1,787 dec14

ArABBANK 1,226 dec14


VAcANcY 0.0%

FY11 22.3%

FY12 26.9%

FY13 6.0%

FY14 0.0%

FY15 44.8%

BEYONd 0.0%

WALE 2.2 YEArS


VAcANcY 0.0%

FY11 16.7%

FY12 0.0%

FY13 26.7%

FY14 1.9%

FY15 54.0%

BEYONd 0.8%

WALE 2.9 YEArS

investment

oFFice PortFolio

11

one darling island, Pyrmont, nsw

Description

developedbymirvacin2006,thisAGradeofficecampuscomprisessixofficefloors,withtwobasementparkinglevels.SituatedontheSydneycBdfringeclosetothewaterfront,thebuildingfeatureslargefloorplatesofgreaterthan4,400sqmandhasachieveda5starNABErSrating.

summary inFormation

GrAdE AGrade

OWNErSHiP 100%mPT

NLA 22,197sqm

cArSPAcES 160

AcQUiSiTiONdATE Apr04


VALUEr SAViLLS



diScOUNTrATE 9.25%



JOHNFAirFAXHOLdiNGS 22,197 Jun27


VAcANcY 0.0%

FY11 0.0%

FY12 0.0%

FY13 0.0%

FY14 0.0%

FY15 0.0%

BEYONd 100.0%

WALE 16.5 YEArS

summary inFormation

GrAdE AGrade

OWNErSHiP 100%

NLA 77,125sqm

cArSPAcES 214



VALUEr cBrE



diScOUNTrATE 8.75%



WESTPAc 75,547 Oct18


VAcANcY 0.0%

FY11 0.0%

FY12 0.7%

FY13 0.2%

FY14 0.2%

FY15 0.1%

BEYONd 98.9%

WALE 7.8 YEArS

275 Kent street, sydney, nsw

Description

completedin2006,WestpacPlacehasatotalNLAofover77,000sqm.Thewinnerofnumerouspropertyindustryawards,itisoneofthelargestofficebuildingsinAustraliaandislocatedintherapidlyimprovingWesterncorridoroftheSydneycBd.WestpacPlaceprovidesAGradeofficeaccommodation,premiumgradebuildingservicesandistheheadofficeofWestpacBankingcorporation.Thebuildinghasa4.0starNABErSrating.


bay centre Pirrama road, Pyrmont, nsw

Description

developedbymirvacin2002,thebuildingcomprisesfiveofficelevelsandislocatedadjacenttodarlingHarbour.Thebuildinghaslargefloorplatesinexcessof3,000sqmwithharbourandcityviewsfromalllevels.Thebuildinghasrecentlyachieveda5starNABErSrating.

summary inFormation

GrAdE AGrade

OWNErSHiP 100%mPT

NLA 15,972sqm

cArSPAcES 127






diScOUNTrATE 9.25%



JOHNHOLLANd 6,243 dec19

iNSUrANcEAUSTrALiA 5,560 Oct13


VAcANcY 0.0%

FY11 0.0%

FY12 0.0%

FY13 23.1%

FY14 34.8%

FY15 3.0%

BEYONd 39.1%

WALE 5.1 YEArS

Description

LocatedwithintherhodesWatersidedevelopment,3riderBoulevardisamodern,sevenlevelofficebuildingwiththreeretailshopsonthegroundfloor.completedinlate2005,thebuildingfeatureslarge,flexiblefloorplatesandhasachieveda4starNABErSrating.

summary inFormation

GrAdE AGrade

OWNErSHiP 100%

NLA 16,713sqm

cArSPAcES 326




LASTEXTErNALVALUATiONdATE –


diScOUNTrATE 9.25%



AAP 3,642 Sep20

cArdLiNKSErVicES 2,973 mar16


VAcANcY 0.0%

FY11 15.1%

FY12 7.6%

FY13 20.0%

FY14 6.2%

FY15 3.3%

BEYONd 47.8%

WALE 4.5 YEArS

3 rider boulevard, rhodes, nsw

investment

oFFice PortFolio

13

1 dEVELOPmENTcOmPLETEdiNJANUArY2009.

5 rider boulevard, rhodes, nsw

Description

developedbymirvacin2008,5riderBoulevardislocatedwithintherhodesWatersidedevelopment.Thepropertycomprisesamodern14levelcommercialofficebuildingincludingfourlevelsofbasementparking.Thebuildingisdesignedtoachievea4.5starNABErSrating.

summary inFormation

GrAdE AGrade

OWNErSHiP 100%mPT

NLA 25,073sqm

cArSPAcES 495

AcQUiSiTiONdATE1 Jan07



LASTEXTErNALVALUATiONdATE 28Feb09


diScOUNTrATE 9.75%



ALcATEL– LUcENTAUSTrALiALimiTEd 15,415 dec18

FOSTErSAUSTrALiALimiTEd 3,682 Nov15


VAcANcY 1.7%

FY11 0.0%

FY12 0.0%

FY13 1.7%

FY14 0.0%

FY15 5.1%

BEYONd 91.6%

WALE 6.6 YEArS

summary inFormation

GrAdE AGrade

OWNErSHiP 100%

NLA 44,828sqm

cArSPAcES 2,340




LASTEXTErNALVALUATiONdATE —


diScOUNTrATE 9.00%



WOOLWOrTHS 44,828 Oct20


VAcANcY 0.0%

FY11 0.0%

FY12 0.0%

FY13 0.0%

FY14 0.0%

FY15 0.0%

BEYONd 100%

WALE 9.8 YEArS

1 woolworths way nso, bella vista, nsw

Description

Located20kmnorth-westoftheSydneycBd,thecorporatecampushasatotalnetlettableareaofover44,000sqmandincludesretailunits,cafes,sportsfacilitiesandanauditorium.


st george centre 60 marcus clarKe street, canberra, act

Description

TheStGeorgecentreisoneofcanberra’slandmarkbuildingsandwasconstructedin1988.itcomprises13officelevels,undercoverparkingtotherearandafourlevelannexprovidingpodiumfloorsof1,300sqmandtowerfloorsof900sqm.

summary inFormation

GrAdE AGrade

OWNErSHiP 100%mPT

NLA 12,045sqm

cArSPAcES 134

AcQUiSiTiONdATE Sep89





diScOUNTrATE 9.00%



dEEWr 1,331 Apr11

STGEOrGE 1,321 Oct20


VAcANcY 5.8%

FY11 15.6%

FY12 10.8%

FY13 8.9%

FY14 23.7%

FY15 4.5%

BEYONd 30.7%

WALE 3.4 YEArS

summary inFormation

GrAdE BGrade

OWNErSHiP 100%

NLA 34,080sqm

cArSPAcES 1,770






diScOUNTrATE 9.50%



iBm 34,080 Aug15


VAcANcY 0.0%

FY11 0.0%

FY12 0.0%

FY13 0.0%

FY14 0.0%

FY15 0.0%

BEYONd 100%

WALE 4.7 YEArS

55 coonara avenue, west Pennant hills, nsw

Description

Located26kmnorth-westoftheSydneycBdand9kmnorthofParramatta,thepropertyhasanetlettableareaofover34,000sqm.comprisingacampusofseveninterconnectedlow-risebuildingsandapproximately1,770parkingspaces,iBmoccupiestheentirefacility.

investment

oFFice PortFolio

15

aviation house 16 Furzer street, PhiliP, act

Description

AviationHouseiswelllocatedinWodenandcomprisesninelevelsofofficeaccommodation,acaféongroundlevelandtwolevelsofbasementparking.Thebuildingwascompletedin2007andfeaturesAGradeservices,largefloorplates,abundantnaturallightandanorth-facingrooftopbalcony.Thebuildingcurrentlyholdsa4.5starNABErSrating.

summary inFormation

GrAdE AGrade

OWNErSHiP 100%mPT

NLA 14,814sqm

cArSPAcES 154

AcQUiSiTiONdATE Jul07





diScOUNTrATE 9.25%



cASA 8,004 Jan22

APSc 3,992 Feb22


VAcANcY 0.0%

FY11 0.0%

FY12 1.1%

FY13 0.0%

FY14 0.0%

FY15 0.0%

BEYONd 98.9%

WALE 10.1 YEArS

sirius building 23 Furzer street, PhiliP, act

Description

Thisnewlycompletedcampusstyleofficebuilding,purposebuiltforthedepartmentofHealthandAgeing,comprises10officelevels,eachover4,500sqmandtwolevelsofbasementparking.

Thebuildinghasbeendesignedtoachievea4.5starNABErSrating.

summary inFormation

GrAdE AGrade

OWNErSHiP 100%mPT

NLA 46,167sqm

cArSPAcES 374

AcQUiSiTiONdATE Feb10





diScOUNTrATE 9.25%



dEPTOFHEALTHANdAGEiNG 45,967 Feb25


VAcANcY 0.0%

FY11 0.0%

FY12 0.0%

FY13 0.0%

FY14 0.0%

FY15 0.0%

BEYONd 100.0%

WALE 14.1 YEArS


38 sydney avenue, Forrest, act

Description

PurposebuiltforthecommonwealthGovernmentin1997,thebuildingcomprisesfourofficelevels,withexcellentnaturallightandlargefloorplatesofapproximately2,100sqmto2,400sqm.ThebuildingiswelllocatedclosetotheParliamentaryTriangle.

summary inFormation

GrAdE AGrade

OWNErSHiP 100%mPT

NLA 9,099sqm

cArSPAcES 68






diScOUNTrATE 9.50%



dBcdE 8,975 Nov12


VAcANcY 0.0%

FY11 1.4%

FY12 0.0%

FY13 98.6%

FY14 0.0%

FY15 0.0%

BEYONd 0.0%

WALE 1.9 YEArS

54 marcus clarKe street, canberra, act

Description

constructedin1986,thebuildingcomprisesnineofficelevels,groundlevelretail,onelevelbasementparkingandislocatedinthecorporateheartofthecBd.Thefloorplatesofapproximately600sqmprovideexcellentnaturallightandqualityviewsfromtheupperlevels.

summary inFormation

GrAdE BGrade

OWNErSHiP 100%mPT

NLA 5,283sqm

cArSPAcES 48






diScOUNTrATE 9.75%



HUdSONGLOBALrESOUrcES 1,248 Jul13

SYNErGYPLUSLimiTEd 507 Apr15


VAcANcY 27.7%

FY11 6.4%

FY12 22.4%

FY13 7.5%

FY14 11.8%

FY15 19.0%

BEYONd 5.1%

WALE 1.7 YEArS

investment

oFFice PortFolio

17

John oxley centre 339 coronation drive, milton, Qld

Description

Acampusstylecommercialofficebuildingwithfivelevelsofofficeaccommodationandtwolevelsofbasementparking.Largefloorplatesacrossthetwotowersconnecttoprovideapproximately2,700sqmfloorplates.constructedin1989,thebuildingiswelllocatedoncoronationdrivewithviewsacrosstheBrisbanerivertothecBd.

summary inFormation

GrAdE BGrade

OWNErSHiP 100%mPT

NLA 13,172sqm

cArSPAcES 319

AcQUiSiTiONdATE may02



LASTEXTErNALVALUATiONdATE 31mar09


diScOUNTrATE 9.50%



OriGiNENErGY 8,492 Jun18

AUSTrALiAPOSTcOrPOrATiON 1,661 mar11


VAcANcY 0.0%

FY11 12.6%

FY12 9.7%

FY13 10.7%

FY14 2.6%

FY15 0.0%

BEYONd 64.5%

WALE 5.3 YEArS

189 grey street, south banK, brisbane, Qld

Description

This12levelcomplexwasdevelopedbymirvacin2005.Thebuildingfeaturesexcellentnaturallight,largeefficientfloorplatesofapproximately1,600sqmandspectacularriverandcityviews.TheSouthBankprecinctprovidesthebenefitsoftheparklands,retailservicesandpublictransport.

summary inFormation

GrAdE AGrade

OWNErSHiP 100%mPT

NLA 12,728sqm

cArSPAcES 146






diScOUNTrATE 9.25%



iNSUrANcEAUSTrALiA 7,281 mar15

THiESSPTYLTd 4,659 Feb13


VAcANcY 0.0%

FY11 0.0%

FY12 2.6%

FY13 38.8%

FY14 0.0%

FY15 58.6%

BEYONd 0.0%

WALE 3.3 YEArS


Description

340AdelaideStreetisamodern17levelofficebuildingwithtwolevelsofbasementparkingandislocatedintheheartoftheBrisbanecBd.ThebuildinghasundergonearefurbishmenttoincreasetheNABErSratingtoatargeted4.5stars.

summary inFormation

GrAdE AGrade

OWNErSHiP 100%

NLA 13,290sqm

cArSPAcES 100



VALUEr cBrE



diScOUNTrATE 10.00%



AUSTrALiANGOVErNmENTSOLiciTOrS 1,724 mar14

HEALTHSErVicESAUSTrALiA 1,628 Feb15


VAcANcY 33.9%

FY11 6.1%

FY12 13.6%

FY13 2.4%

FY14 30.5%

FY15 13.5%

BEYONd 0.0%

WALE 1.8 YEArS

340 adelaide street, brisbane, Qld

Description

Asixlevelofficebuildingcomprisingfiveupperlevelsofofficeandgroundflooroffice/retail.Thepropertyisconvenientlylocatedapproximately260metressoutheastofmiltonrailwayStationandapproximately2kmwestoftheBrisbanecBd.

summary inFormation

GrAdE AGrade

OWNErSHiP 100%

NLA 3,310sqm

cArSPAcES 51






diScOUNTrATE 10.25%



AEcOmAUSTrALiA 3,226 Jan14


VAcANcY 0.0%

FY11 0.0%

FY12 0.0%

FY13 0.0%

FY14 100.0%

FY15 0.0%

BEYONd 0.0%

WALE 3.1 YEArS

12 cribb street, milton, Qld

investment

oFFice PortFolio

19

Description

ThisbuildingbenefitsfromitsprimelocationintheSouthgatecorporatePark,7kmeastoftheBrisbanecBd.Pre-committedtoWestpacpriortoconstructionin2003,thebuildinghaspotentialforanadditional1,000sqmdevelopment.Theunusualexteriorframedesignoptimisesefficiencyandflexibilityacrossthe4,000sqmfloorplate.

Description

ThisbuildingbenefitsfromitsprimelocationintheSouthgatecorporatePark,7kmeastoftheBrisbanecBd.constructedin2007andwithover6,000sqmofnetlettablearea,Honeywellcurrentlyleaseover40percentofthebuilding.

summary inFormation

GrAdE BGrade

OWNErSHiP 100%

NLA 4,218sqm

cArSPAcES 302






diScOUNTrATE 9.25%



WESTPAc 4,218 Nov14

summary inFormation

GrAdE BGrade

OWNErSHiP 100%

NLA 6,028sqm

cArSPAcES 147






diScOUNTrATE 10.00%



HONEYWELL 2,548 Jun18

riVErciTY 1,025 dec18


VAcANcY 0.0%

FY11 0.0%

FY12 0.0%

FY13 0.0%

FY14 0.0%

FY15 100.0%

BEYONd 0.0%

WALE 3.9 YEArS


VAcANcY 31.0%

FY11 0.0%

FY12 0.0%

FY13 0.0%

FY14 0.0%

FY15 0.0%

BEYONd 69.0%

WALE 5.0 YEArS

33 corPorate drive, cannon hill, Qld 19 corPorate drive, cannon hill, Qld


royal domain centre 380 st Kilda road, melbourne, vic

Description

This15levelofficebuildingcomprisessixpodiumlevelsofupto2,800sqmwithtowerfloorsof1,200sqm.ProminentlylocatedatthecityendofStKildaroadandoppositetheroyalBotanicalGardens,thebuildinghasexcellentnaturallightandviewstoPortPhillipBay.ThebuildingistheheadofficeofmirvacVictoria.

summary inFormation

GrAdE AGrade

OWNErSHiP 100%mPT

NLA 24,574sqm

cArSPAcES 489

AcQUiSiTiONdATE Oct95(50%)Apr01(50%)





diScOUNTrATE 9.00%



TOLLTrANSPOrT 4,534 Nov12

cOmPUTErASSOciATES 4,313 Aug15


VAcANcY 0.0%

FY11 0.0%

FY12 16.8%

FY13 24.1%

FY14 18.9%

FY15 3.0%

BEYONd 37.2%

WALE 3.6 YEArS

riverside Quay southbanK, melbourne, vic

Description

Amodernofficecomplexcomprisingthreeseparatebuildingswithgroundfloorretailandasinglelevelofbasementparking.ThebuildingshaveexcellentnaturallightwithviewsacrosstheYarrariverandthecBd.Aseparatebuildingattherearincorporatesa560spacecarpark.Thegroundfloorretailspacehasundergoneasignificantrefurbishment.

summary inFormation

GrAdE AGrade

OWNErSHiP 100%mPT

NLA 31,455sqm

cArSPAcES 164

AcQUiSiTiONdATE Apr02(1&3)&Jul03(2)





diScOUNTrATE 9.50%



UrSAUSTrALiA 4,653 Feb14


VAcANcY 0.0%

FY11 14.0%

FY12 7.5%

FY13 6.4%

FY14 24.5%

FY15 18.8%

BEYONd 28.8%

WALE 3.9 YEArS

investment

oFFice PortFolio

21

191 – 197 salmon street Port melbourne, vic

Description

HeadquartersforGmHolden,thebuildingisdesignedinacampusstylewithfloorplatesgreaterthan7,000sqmeach.ThebuildingwaspurposebuiltforGmHoldenandwascompletedinApril2005.

summary inFormation

PrOPErTYGrAdE AGrade

OWNErSHiP 100%mPT

NLA 21,763sqm

cArSPAcES 1,055






diScOUNTrATE 9.25%



GmHOLdENLTd 21,763 Apr20


VAcANcY 0.0%

FY11 0.0%

FY12 0.0%

FY13 0.0%

FY14 0.0%

FY15 0.0%

BEYONd 100.0%

WALE 9.3 YEArS

como centre, corner tooraK road & chaPel street, south yarra, vic

Description

Thecomplexincludesofficeaccommodationacrossthreetowers,aretailcentreof30shopsandacinema.The5star107roomcomoHotelandcommercialcarparkcomplementthelandmarkcomplex.

summary inFormation

GrAdE AGrade

OWNErSHiP 100%mPT

NLA 25,674sqm

cArSPAcES 621






diScOUNTrATE 9.25%



NETWOrK10 4,827 Jun19

TELSTrAcOrPOrATiON 2,676 Jun12


VAcANcY 0.8%

FY11 4.5%

FY12 22.6%

FY13 26.7%

FY14 12.0%

FY15 10.5%

BEYONd 22.9%

WALE 3.8 YEArS


Description

Thebuildingislocated13kmsouth-eastoftheAdelaidecBdinacommercialprecinctadjoiningFlindersUniversitycampus.OccupiedbyBTFinancialGroup,asubsidiaryofWestpac,thebuildingisusedasanoperationsandcallcentre.

summary inFormation

GrAdE BGrade

OWNErSHiP 100%

NLA 6,164sqm

cArSPAcES 400






diScOUNTrATE 10.50%



WESTPAc 6,164 Oct19


VAcANcY 0.0%

FY11 0.0%

FY12 0.0%

FY13 0.0%

FY14 0.0%

FY15 0.0%

BEYONd 100.0%

WALE 8.8 YEArS

1 hugh cairns avenue, bedFord ParK, sa

23

one darling island, Pyrmont, nsw


industrial PortFolio

nexus industry ParK, Prestons, nsw

investment

25

property location nla

% oF inDustrial portFolio BooK value 1


271Lanecoveroad Northryde,NSW 11,516sqm 8.8% $32.5m

10JuliusAvenue Northryde,NSW 13,341sqm 14.4% $52.7m

12JuliusAvenue Northryde,NSW 7,057sqm 6.3% $22.8m

64BiloelaStreet Villawood,NSW 22,937sqm 5.4% $19.5m

1–47Percivalroad Smithfield,NSW 22,545sqm 7.6% $27.5m

NexusindustryPark(Atlas) Prestons,NSW 13,120sqm 4.9% $17.9m

NexusindustryPark(NatSteel) Prestons,NSW 9,709sqm 3.4% $12.3m

NexusindustryPark(deLonghi) Prestons,NSW 17,203sqm 6.0% $21.8m

NexusindustryPark(HPmLegrand) Prestons,NSW 12,339sqm 4.1% $14.8m

52Huntingwooddrive Huntingwood,NSW 19,286sqm 6.2% $22.4m

32Sargentsroad minchinbury,NSW 22,378sqm 6.7% $24.3m

54-60Talaveraroad Northryde,NSW 11,323sqm 12.3% $45.0m

47–67Westgatedrive AltonaNorth,Vic 27,081sqm 5.4% $19.6m

1900–2060PrattBoulevard chicago,iL,USA 49,982sqm 8.5% $30.8m(AUd)

total 259,818 sqm 100.0% $372.9m 1,3

WeigHteD average lease eXpiry 4.9 years

occupancy 97.4%

1 BOOKVALUEASAT31dEcEmBEr2010.EXcLUdESdEVELOPmENTPrOJEcTS.2 BYBOOKVALUEASAT31dEcEmBEr2010.EXcLUdESdEVELOPmENTASSETSANdiNdirEcTPrOPErTYiNVESTmENTS.3 iNcLUdESASSETHELdFOrdEVELOPmENTSEEPAGE99.


■ NSW 86.2%

■ VIC 5.4%

■ USA 8.5%


271 lane cove road, north ryde, nsw

Description

ThepropertyissituatedadjacenttothemacquarieParkrailwayStationonthecornerofLanecoveandWaterlooroads.Thesitehasdevelopmentapprovalforfuturecommercialdevelopment.

property Details

OWNErSHiP 100%mPT

NLA 11,516sqm

cArSPAcES 227






diScOUNTrATE 9.50%


FOXTEL 6,718 mar18


VAcANcY 41.7%

FY11 0.0%

FY12 0.0%

FY13 0.0%

FY14 0.0%

FY15 0.0%

BEYONd 58.3%

WALE 4.2 YEArS

Description

Thepropertycomprisesthreeseparatebuildingsthatwereprogressivelycompletedfrom2001to2005.ThebuildingsarelocatedwithintheriversidecorporateParkandhaveexcellentaccesstotheLanecoveTunnel,m2motorwayandNorthryderailwayStation.


VAcANcY 7.1%

FY11 25.5%

FY12 0.0%

FY13 0.0%

FY14 0.0%

FY15 0.0%

BEYONd 67.4%

WALE 3.4 YEArS

summary inFormation

OWNErSHiP 100%mPT

NLA 13,341sqm

cArSPAcES 444






diScOUNTrATE 9.75%


BOcGASES 8,993 Nov15

SYNTHESAUSTrALiA 2,355 may11

10 Julius avenue, north ryde, nsw


investment

27

Description

LocatedwithintheriversidecorporatePark,thepropertycomprisestwomulti-levelofficebuildingsandbasementparking.ThebuildingshaveexcellentaccesstotheLanecoveTunnel,m2motorwayandNorthryderailwayStation.


VAcANcY 15.2%

FY11 0.0%

FY12 32.1%

FY13 4.5%

FY14 0.0%

FY15 48.3%

BEYONd 0.0%

WALE 2.2 YEArS

summary inFormation

OWNErSHiP 100%mPT

NLA 7,057sqm

cArSPAcES 200






diScOUNTrATE 9.50%


rEVLON 2,551 Oct14

PrAXALimiTEd 1,213 Nov11

12 Julius avenue, north ryde, nsw 64 biloela street, villawood, nsw

Description

Thepropertycomprisesanoriginaloffice/warehousebuildingof15,882sqmanda7,055sqmhighclearancewarehouseadjacenttotheoriginalbuildingthatwascompletedforVisyin2005.

property Details

OWNErSHiP 100%mPT

NLA 22,937sqm

cArSPAcES 106

AcQUiSiTiONdATE Feb04



LASTEXTErNALVALUATiONdATE 30Sep09


diScOUNTrATE 10.50%


ViSYiNdUSTriALPLASTicS 22,937 Sep16


VAcANcY 0.0%

FY11 0.0%

FY12 0.0%

FY13 0.0%

FY14 0.0%

FY15 0.0%

BEYONd 100.0%

WALE 5.7 YEArS



investment

1 – 47 Percival road, smithField, nsw

Description

ThispropertyfrontsthecumberlandHighwayatSmithfieldandprovidesdirectaccesstothem4motorway.Anewoffice/warehousewasdesignedandconstructedforSandvikin2003.Thetwooriginalbuildingshaveundergonepartialrefurbishment.AnewbuildingwascompletedbymirvacforSandvikinJune2010.

property Details

OWNErSHiP 100%mPT

NLA 22,545sqm

cArSPAcES 207

AcQUiSiTiONdATE Nov02





diScOUNTrATE 9.75%


SANdViKAUSTrALiA 17,108 Jun22

TYcOFLOWcONTrOL 5,437 dec11

lease eXpiry proFile % area 1

VAcANcY 0.0%

FY11 0.0%

FY12 24.1%

FY13 0.0%

FY14 0.0%

FY15 0.0%

BEYONd 75.9%

WALE 9.0 YEArS

nexus industry ParK (atlas) lyn Parade, Prestons, nsw

Description

developedbymirvac,thisbuildingwaspurposebuiltforAtlasSteelin2006andadjoinsthreeotherindustrialfacilitiesdevelopedontheformerLiverpoolShowgroundsite.Thesitehasexcellentexposureandaccesstothem7motorway.

property Details

OWNErSHiP 100%mPT

NLA 13,120sqm

cArSPAcES 125






diScOUNTrATE 9.75%


ATLASSTEEL(AUST)PTYLTd 13,120 Apr21


VAcANcY 0.0%

FY11 0.0%

FY12 0.0%

FY13 0.0%

FY14 0.0%

FY15 0.0%

BEYONd 100.0%

WALE 10.3 YEArS

29

nexus industry ParK (natsteel) lyn Parade, Prestons, nsw

Description

developedbymirvac,thisbuildingwaspurposebuiltforNatSteelAustraliain2006andadjoinsthreeotherindustrialfacilitiesdevelopedontheformerLiverpoolShowgroundsite.Thesitehasexcellentexposureandaccesstothem7motorway.

property Details

OWNErSHiP 100%mPT

NLA 9,709sqm

cArSPAcES 70






diScOUNTrATE 9.25%


NATSTEELAUSTrALiA 9,709 Nov13


VAcANcY 0.0%

FY11 0.0%

FY12 0.0%

FY13 0.0%

FY14 100.0%

FY15 0.0%

BEYONd 0.0%

WALE 2.9 YEArS

nexus industry ParK (delonghi) lyn Parade, Prestons, nsw

Description

developedbymirvac,thisbuildingwasbuiltandsubsequentlyleasedtoTotalcareTransportanddeLonghiin2007andadjoinsthreeotherindustrialfacilitiesdevelopedontheformerLiverpoolShowgroundsite.Thesitehasexcellentexposureandaccesstothem7motorway.

property Details

OWNErSHiP 100%mPT

NLA 17,203sqm

cArSPAcES 163




LASTEXTErNALVALUATiONdATE 30Sep09


diScOUNTrATE 9.50%


TOTALcArETrANSPOrT 9,056 dec13

dELONGHi 8,147 dec13


VAcANcY 0.0%

FY11 0.0%

FY12 0.0%

FY13 0.0%

FY14 100.0%

FY15 0.0%

BEYONd 0.0%

WALE 3.0 YEArS



investment

nexus industry ParK (hPm legrand) lyn Parade, Prestons, nsw

Description

developedbymirvac,thisbuildingwasbuiltandsubsequentlyleasedtoHPmLegrandAustraliain2008andadjoinsthreeotherindustrialfacilitiesdevelopedontheformerLiverpoolShowgroundsite.Thesitehasexcellentexposureandaccesstothem7motorway.

property Details

OWNErSHiP 100%mPT

NLA 12,339sqm

cArSPAcES 103



VALUEr SAViLLS



diScOUNTrATE 9.75%


HPm 12,339 Oct13


VAcANcY 0.0%

FY11 0.0%

FY12 0.0%

FY13 0.0%

FY14 100.0%

FY15 0.0%

BEYONd 0.0%

WALE 2.8 YEArS

Description

Thepropertycomprisesahighclearance,moderndistributionwarehousewhichwasspecificallydesignedforExelAustraliain2000.Thepropertyhasexcellentaccesstothem4motorway.


VAcANcY 0.0%

FY11 0.0%

FY12 0.0%

FY13 100.0%

FY14 0.0%

FY15 0.0%

BEYONd 0.0%

WALE 1.8 YEArS

summary inFormation

OWNErSHiP 100%mPT

NLA 19,286sqm

cArSPAcES 106






diScOUNTrATE 9.50%


EXELAUSTrALiA 19,286 Oct12

52 huntingwood drive, huntingwood, nsw

31

Description

Thepropertycomprisestwohighclearancewarehouses,purposebuiltforStarTrackExpressin2004and2006.Thepropertyislocatedclosetothejunctionofthem4andm7motorways.


VAcANcY 0.0%

FY11 0.0%

FY12 0.0%

FY13 0.0%

FY14 0.0%

FY15 100.0%

BEYONd 0.0%

WALE 3.9 YEArS

summary inFormation

OWNErSHiP 100%mPT

NLA 22,378sqm

cArSPAcES 202






diScOUNTrATE 9.00%


STArTrAcKEXPrESS 22,378 Nov14

32 sargents road, minchinbury, nsw

Description

Located16kmnorth-westoftheSydneycBdand1kmfrommacquarieParkrailwayStation,thepropertyispositionedatahighprofilecornersiteatthejunctionofTalaveraroadandKhartoumroad.


VAcANcY 0.0%

FY11 0.0%

FY12 0.0%

FY13 0.0%

FY14 0.0%

FY15 0.0%

BEYONd 100.0%

WALE 14.3 YEArS

summary inFormation

OWNErSHiP 100%mPT

NLA 11,323sqm

cArSPAcES 128






diScOUNTrATE 9.50%


WESTPAc 11,323 Apr25

54-60 talavera road, north ryde, nsw



investment

Description

PurposebuiltforPacificBrandsin1996,thepropertyislocatedinmelbourne’swesternindustrialprecinctstrategicallyservicedbythemajortransportroutesoftheWestgateFreeway,WesternringroadandthePrincesFreeway.


VAcANcY 0.0%

FY11 0.0%

FY12 0.0%

FY13 0.0%

FY14 100.0%

FY15 0.0%

BEYONd 0.0%

WALE 3.3 YEArS

summary inFormation

OWNErSHiP 100%mPT

NLA 27,081sqm

cArSPAcES 183






diScOUNTrATE 10.00%


PAciFicBrANdS 27,081 Apr14

47 — 67 westgate drive, altona north, vic 1900 – 2060 Pratt boulevard, chicago, illinois, usa

Description

ThechicagometropolitanareaisthelargestindustrialmarketintheUSAandthisversatile50,000sqmindustrialfacilityislocatedadjacenttotheO’HareinternationalAirport,thesecondbusiestairportintheworld.Thepropertyiscurrentlyleasedandalsoprovidesamedium-termredevelopmentopportunity.

property Details

OWNErSHiP 100%mPT

NLA 49,982sqm

cArSPAcES 1,638


VALUATiONAT31dEc10 $30.8m(AUd)




diScOUNTrATE 10.00%


cLEArLAmPAcKAGiNG 49,982 dec14


VAcANcY 0.0%

FY11 0.0%

FY12 0.0%

FY13 0.0%

FY14 0.0%

FY15 100.0%

BEYONd 0.0%

WALE 3.9 YEArS

33

32 sargents road, minchinbury, nsw


investment

retail PortFolio

1 BYBOOKVALUEASAT31dEcEmBEr2010.EXcLUdESdEVELOPmENTASSETSANdiNdirEcTPrOPErTYiNVESTmENTS.

GRADE DIVERSIFICATION 1


■ NEIGHBOURHOOD 7.0%

■ CBD RETAIL 8.9%

■ SUB REGIONAL 76.3%

■ BULKY GOODS CENTRE 7.8%

■ NSW 48.8%

■ VIC 17.6%

■ QLD 31.0%

■ ACT 2.6%

waverley gardens, mulgrave, vic

35

property location gla

% oF retail portFolio BooK value 1

centre mat 2


metcentre Sydney,NSW 6,753sqm 3.5% $50m $59.5m3

GreenwoodPlaza NorthSydney,NSW 8,755sqm 4.4% $75m $75.0m3

BroadwayShoppingcentre Broadway,NSW 50,983sqm 13.2% $392m $225.0m3

rhodesShoppingcentre rhodes,NSW 32,830sqm 5.9% $183m $102.0m3

StmarysVillagecentre Stmarys,NSW 16,057sqm 2.5% $90m $43.0m

StanhopeVillage StanhopeGardens,NSW 15,367sqm 3.6% $104m $62.0m

cherrybrookVillageShoppingcentre cherrybrook,NSW 9,492sqm 4.4% $99m $75.8m

Orangecitycentre Orange,NSW 17,853sqm 2.9% $77m $49.0m

manningmall Taree,NSW 10,954sqm 2.0% $52m $34.8m

Tareecitycentre Taree,NSW 15,527sqm 3.2% $107m $55.0m

Ballinacentral Ballina,NSW 14,183sqm 1.7% $57m $29.0m

LakeHavenmegacentre4 LakeHaven,NSW 21,769sqm 1.6% N/A $27.8m

coolemancourt Weston,AcT 10,688sqm 2.6% $97m $44.0m

Loganmegacentre Logan,QLd 27,026sqm 3.6% N/A $61.5m

OrionSpringfieldTowncentre Springfield,QLd 32,651sqm 7.9% $148m $136.0m

Hinklercentral Bundaberg,QLd 20,788sqm 5.1% $149m $88.0m

KawanaShoppingworld Buddina,QLd 29,854sqm 11.8% $232m $202.7m

citycentrePlaza rockhampton,QLd 14,107sqm 2.6% $81m $44.0m

comocentre SouthYarra,Vic 6,631sqm 1.0% $19m $18.0m

Gippslandcentre Sale,Vic 22,731sqm 2.9% $118m $50.3m

WaverleyGardensShoppingcentre mulgrave,Vic 38,319sqm 7.4% $166m $127.0m

PeninsulaLifestyle mornington,Vic 32,135sqm 2.6% N/A $45.0m

mooneePondscentral mooneePonds,Vic 18,582sqm 3.6% $93m $62.3m

total 474,035 sqm 100.0% $1,716.5m 1

WeigHteD average lease eXpiry 6.4 years

occupancy 98.9% 5

1 BOOKVALUEASAT31dEcEmBEr2010.EXcLUdESdEVELOPmENTPrOJEcTS.2 12mONTHSTO31dEcEmBEr2010.iNAccOrdANcEWiTHSccAGUidELiNES.3 BOOKVALUErEPrESENTS50%iNTErEST.4 ASSETSOLd,SETTLEd2FEBrUArY2011.5 EXcLUdiNGBULKYGOOdScENTrES,OccUPANcYdEcrEASESTO98.7%.


investment

retail PortFolio

greenwood Plaza, north sydney, nswmetcentre 60 margaret street, sydney, nsw

Description

GreenwoodPlazaisathreelevelcentreatthebaseofNorthSydney’siconic101-103millerStreet.itcomprisesover100retailandserviceoutletswiththegroundlevelretailflowingdirectlyintoNorthSydneyrailwayStation.

Description

Themetcentrecomprisesover75stores,locatedinthecentreoftheSydneycBdatthebaseof60margaretStreetwithadirectpedestrianlinktoWynyardrailwayStation.

summary inFormation

GrAdE cBdretail

OWNErSHiP 50%mPT,50%EUrEKA

GLA 8,755sqm

cArSPAcES 547






diScOUNTrATE 9.25%

cENTrEmAT $75m

OccUPANcYcOST 18.3%


GrEENWOOdHOTEL 856 Nov12

iGAEXPrESS 713 Apr17

summary inFormation

GrAdE cBdretail

OWNErSHiP 50%mPT,50%mTAA

GLA 6,753sqm

cArSPAcES N/A



VALUEr SAViLLS



diScOUNTrATE 9.25%

cENTrEmAT $50m

OccUPANcYcOST 19.4%


WOOLWOrTHS 696 mar29

FLOrSHEim 267 Oct13


VAcANcY 0.0%

FY11 9.2%

FY12 9.1%

FY13 25.4%

FY14 14.9%

FY15 7.5%

BEYONd 33.9%

WALE 3.5 YEArS


VAcANcY 1.6%

FY11 9.7%

FY12 2.3%

FY13 10.9%

FY14 25.4%

FY15 16.3%

BEYONd 33.9%

WALE 6.5 YEArS

37

rhodes shoPPing centre, rhodes, nswbroadway shoPPing centre, broadway, nsw

Description

Thecentreisco-locatedwithiKEAintherapidlydevelopingrhodesresidentialandofficeprecinct.Thecentrewasreconfiguredin2009toincorporateaTargetandimprovedspecialtyoffer.Thecentrealsohasaneightscreenreadingcinemacomplex.

Description

ThisdominantsubregionalcentreislocatedonthefringeofthecBdandservicesthegrowingcatchmentofSydney’sinnercityandinnerwest.Thecentrewasexpandedandrefurbishedin2007toaddTargetandanewfashionleveltotheexistingmajortenanciesofKmart,coles,Bi-LOandrebelSport.

summary inFormation

GrAdE Subregional

OWNErSHiP 50%mPT,50%Perron

GLA 32,830sqm

cArSPAcES 2,411

AcQUiSiTiONdATE Jan07





diScOUNTrATE 9.25%

cENTrEmAT $183m

OccUPANcYcOST 11.9%


TArGET 3,795 Nov24

cOLES 3,497 dec19

summary inFormation

GrAdE Subregional

OWNErSHiP 50%mPT,50%Perron

GLA 50,983sqm

cArSPAcES 1,872


VALUATiONAT31dEc10 $225m




diScOUNTrATE 9.00%

cENTrEmAT $392m

OccUPANcYcOST 14.3%


KmArT 7,394 mar13

HOYTS 4,857 Jul18


VAcANcY 5.9%

FY11 4.7%

FY12 11.2%

FY13 12.0%

FY14 0.8%

FY15 18.4%

BEYONd 47.0%

WALE 6.0 YEArS


VAcANcY 0.0%

FY11 1.7%

FY12 10.5%

FY13 32.2%

FY14 7.5%

FY15 5.1%

BEYONd 42.9%

WALE 6.6 YEArS


investment

retail PortFolio

st marys village centre, st marys, nsw

Description

LocatedinthewesternSydneysuburbofStmarys,thissubregionalcentrecomprisesWoolworths,Targetand44specialtystores.Thecentreprovidesconvenientshoppingoverasinglelevelwitheasilyaccessibleon-gradeparking.ThecentrehasaNABErSEnergyratingof4.0Stars.

summary inFormation

GrAdE Subregional

OWNErSHiP 100%mPT

GLA 16,057sqm

cArSPAcES 570



VALUEr KNiGHTFrANK



diScOUNTrATE 9.50%

cENTrEmAT $90m

OccUPANcYcOST 10.7%


TArGET 8,023 Jul21

WOOLWOrTHS 4,066 Nov15


VAcANcY 0.4%

FY11 1.0%

FY12 3.8%

FY13 7.1%

FY14 2.6%

FY15 5.0%

BEYONd 80.1%

WALE 7.3 YEArS

stanhoPe village, stanhoPe gardens, nsw

Description

Locatedintherapidlygrowingnorth-westcorridorofSydney,StanhopeVillageStage1openedinlate2003,comprisingacolessupermarketand30stores.Stage2wasopenedinmarch2007andincludedKmart.Thecentreisconvenientlylocatedadjacenttothearea’sbusyleisurecentreandpoolfacility.ThecentrehasaNABErSEnergyratingof3.5Stars.

summary inFormation

GrAdE Subregional

OWNErSHiP 100%mPT

GLA 15,367sqm

cArSPAcES 694






diScOUNTrATE 9.25%

cENTrEmAT $104m

OccUPANcYcOST 11.8%


KmArT 5,060 mar22

cOLES 3,629 Nov18


VAcANcY 0.0%

FY11 1.5%

FY12 10.8%

FY13 3.7%

FY14 9.7%

FY15 4.9%

BEYONd 69.4%

WALE 7.0 YEArS

39

Description

Thissinglelevel,neighbourhoodcentrewasoriginallyconstructedin1989andwasextensivelyrefurbishedandexpandedin2004.ThecentreisanchoredbyaWoolworthssupermarketplus54specialtytenanciesincludingastrongfreshfoodprecinct.


VAcANcY 0.4%

FY11 0.0%

FY12 12.4%

FY13 17.6%

FY14 0.0%

FY15 19.0%

BEYONd 50.6%

WALE 7.4 YEArS

summary inFormation

GrAdE Neighbourhood

OWNErSHiP 100%mPT

GLA 9,492sqm

cArSPAcES 513






diScOUNTrATE 9.50%

cENTrEmAT $99m

OccUPANcYcOST 13.3%


WOOLWOrTHS 3,832 mar25

mArTELLi’SFrUiTmArKET 679 Aug14

cherrybrooK village shoPPing centre cherrybrooK, nsw

orange city centre, orange, nsw

Description

OrangecitycentreisthedominantcentreinthestrongregionalcityofOrange.Thecentreincorporatesamyerdepartmentstore,aBigWandover30specialitystoresaswellasundercoverparking.

summary inFormation

GrAdE Subregional

OWNErSHiP 100%mPT

GLA 17,853sqm

cArSPAcES 414






diScOUNTrATE 9.25%

cENTrEmAT $77m

OccUPANcYcOST 10.9%


BiGW 7,017 Nov26

mYEr 6,858 Nov16


VAcANcY 0.0%

FY11 3.3%

FY12 1.1%

FY13 2.9%

FY14 7.6%

FY15 3.3%

BEYONd 81.8%

WALE 9.2 YEArS


investment

retail PortFolio

manning mall, taree, nsw

Description

manningmallislocatedapproximately300kmnorthofSydneyinthemainretailstreetofTaree.Thecentrewasextendedandrefurbishedin2009toincludeanewTargetstoreandacolessupermarket.ThecentreisoppositeTareecitycentre,providingadominantretailpresenceinthisstrongregionaltown.

summary inFormation

GrAdE Subregional

OWNErSHiP 100%mPT

GLA 10,954sqm

cArSPAcES 420






diScOUNTrATE 9.50%

cENTrEmAT $52m

OccUPANcYcOST 10.7%


cOLES 3,650 Sep24

TArGET 3,500 Nov18


VAcANcY 3.3%

FY11 1.7%

FY12 3.6%

FY13 1.7%

FY14 8.1%

FY15 8.6%

BEYONd 72.9%

WALE 8.2 YEArS

Description

Tareecitycentreisasinglelevel,subregionalshoppingcentre.constructedin1997,thecentrecomprisesaWoolworthssupermarket,BigW,45specialtytenanciesandislocatedadjacenttomirvac’smanningmall.


VAcANcY 0.0%

FY11 3.2%

FY12 6.3%

FY13 2.8%

FY14 10.8%

FY15 2.0%

BEYONd 74.9%

WALE 5.2 YEArS

summary inFormation

GrAdE Subregional

OWNErSHiP 100%mPT

GLA 15,527sqm

cArSPAcES 930






diScOUNTrATE 9.50%

cENTrEmAT $107m

OccUPANcYcOST 9.2%


BiGW 6,583 mar17


taree city centre, taree, nsw

41

ballina central, ballina, nsw

Description

Openedinmay2006,thissubregionalcentreincludesBigW,SupaiGA,27specialtystores,afreestandingHungryJacksandaWoolworthsPetroloutlet.BallinaisthemaincoastaltownonthefarnorthcoastofNSW.

summary inFormation

GrAdE Subregional

OWNErSHiP 100%mPT

GLA 14,183sqm

cArSPAcES 606






diScOUNTrATE 9.75%

cENTrEmAT $57m

OccUPANcYcOST 14.4%


BiGW 7,412 may26

riTcHiESSUPAiGA 3,761 Jun26


VAcANcY 1.9%

FY11 0.5%

FY12 2.5%

FY13 0.3%

FY14 2.5%

FY15 0.7%

BEYONd 91.6%

WALE 13.3 YEArS

laKe haven megacentre, laKe haven, nsw 1

Description

LakeHavenmegacentreisamodernbulkygoodscentrelocatedintheheartoftheNSWcentralcoastgrowthcorridor,approximately100kmnorth-eastofSydneyand50kmsouth-westofNewcastle.ThecentreopenedfortradinginJuly2007andisanchoredbyBunningsWarehouseandHarveyNorman.

summary inFormation

GrAdE BulkyGoodscentre

OWNErSHiP 100%mPT

GLA 21,769sqm

cArSPAcES 590






diScOUNTrATE 10.25%

cENTrEmAT N/A

OccUPANcYcOST N/A


BUNNiNGS 8,592 Jul19

HArVEYNOrmAN 6,125 Jul17


VAcANcY 2.3%

FY11 0.0%

FY12 3.5%

FY13 0.0%

FY14 0.0%

FY15 8.2%

BEYONd 86.0%

WALE 6.9 YEArS

1 ASSETSOLd,SETTLEd2FEBrUArY2011.


investment

retail PortFolio

cooleman court, weston, act

Description

coolemancourtwasredevelopedin2009toincludeanewAldistoreandsecondretailleveltotheexistinganchorsofWoolworthsandTargetcountry.Thecentrehas40specialtyshops.


VAcANcY 3.8%

FY11 1.7%

FY12 4.2%

FY13 10.8%

FY14 31.5%

FY15 8.6%

BEYONd 39.5%

WALE 4.1 YEArS

summary inFormation

GrAdE Neighbourhood

OWNErSHiP 100%mPT

GLA 10,688sqm

cArSPAcES 497






diScOUNTrATE 9.50%

cENTrEmAT $97m

OccUPANcYcOST 11.9%


WOOLWOrTHS 3,102 Aug13

ALdiFOOdS 1,400 Jan19

logan megacentre, logan, Qld

Description

Openedinmarch2007,thecentreisthepremierhomemakerfacilityforBrisbane’sgrowingsouth-westcorridor.co-locatedwithiKEA,thecentrehasexcellentexposuretothem1motorway.ThecentrehasaNABErSEnergyratingof4.0Stars.

summary inFormation


OWNErSHiP 100%mPT

GLA 27,026sqm

cArSPAcES 600



VALUEr cBricHArdELLiS



diScOUNTrATE 10.25%

cENTrEmAT N/A

OccUPANcYcOST N/A


SPOTLiGHT 3,509 Sep17

ANAcONdA 3,425 mar17


VAcANcY 0.0%

FY11 0.0%

FY12 8.7%

FY13 2.4%

FY14 17.3%

FY15 12.6%

BEYONd 59.1%

WALE 5.0 YEArS

43

orion sPringField town centre, sPringField, Qld

Description

LocatedinBrisbane’srapidlygrowingsouth-westerncorridor,thecentrewasopenedinmarch2007andincludesWoolworths,BigWand115specialtystores.Thistowncentresetsanewbenchmarkinenvironmentallysustainableinitiatives.Thecentrehasachieveda6StarGreenStarrating.Planningforfuturestagesisunderway.

summary inFormation

GrAdE Subregional

OWNErSHiP 100%mPT

GLA 32,651sqm

cArSPAcES 2,195



VALUEr cBricHArdELLiS



diScOUNTrATE 9.25%

cENTrEmAT $148m

OccUPANcYcOST 16.0%


BiGW 8,198 mar27



VAcANcY 1.2%

FY11 0.3%

FY12 21.9%

FY13 8.3%

FY14 7.5%

FY15 5.3%

BEYONd 55.5%

WALE 8.3 YEArS

hinKler central, bundaberg, Qld

Description

LocatedinthestrongregionalcentreofBundaberg,thecentrecomprisesWoolworths,coles,Kmartand76specialtystores.

summary inFormation

GrAdE Subregional

OWNErSHiP 100%mPT

GLA 20,788sqm

cArSPAcES 1,050






diScOUNTrATE 9.50%

cENTrEmAT $149m

OccUPANcYcOST 9.6%


KmArT 6,224 Jul15



VAcANcY 0.2%

FY11 8.6%

FY12 6.5%

FY13 3.9%

FY14 6.9%

FY15 17.7%

BEYONd 56.2%

WALE 4.5 YEArS


investment

retail PortFolio

Kawana shoPPingworld, buddina, Qld

Description

LocatedonQueensland’sSunshinecoast,thisdominantcentrecomprisesWoolworths,BigW,Bi-LOandapproximately100specialtiesstores.Planningisunderwayforfurthercentreexpansion.

summary inFormation

GrAdE Subregional

OWNErSHiP 100%mPT

GLA 29,854sqm

cArSPAcES 1,720

AcQUiSiTiONdATE dec93(50%)Jun98(50%)



LASTEXTErNALVALUATiONdATE 30JUN10


diScOUNTrATE 9.25%

cENTrEmAT $232m

OccUPANcYcOST 12.9%


BiGW 8,383 Jun21

WOOLWOrTHS 3,648 Nov14


VAcANcY 0.3%

FY11 5.8%

FY12 0.6%

FY13 4.1%

FY14 3.2%

FY15 24.9%

BEYONd 61.0%

WALE 6.1 YEArS

Description

citycentrePlazaissituatedonthefringeofrockhampton’scBd.Thesinglelevelsubregionalshoppingcentrewasmodernisedandupgradedduring2008.ThecentreisanchoredbyaTargetstoreandacolessupermarketwith35specialtyshops.


VAcANcY 0.0%

FY11 0.5%

FY12 5.6%

FY13 2.8%

FY14 31.1%

FY15 4.0%

BEYONd 56.0%

WALE 3.7 YEArS

summary inFormation

GrAdE Subregional

OWNErSHiP 100%mPT

GLA 14,107sqm

cArSPAcES 495






diScOUNTrATE 9.75%

cENTrEmAT $81m

OccUPANcYcOST 11.5%


TArGET 6,910 Jul15

cOLES 3,670 Oct13

city centre Plaza, rocKhamPton, Qld

45

rhodes shoPPing centre, rhodes, nsw


investment

retail PortFolio

como centre, south yarra, vic

Description

comocentreisamixeduseoffice,retailandhotelcomplex,withtheretailcomponentcomprising37specialtystoresandanArtHousecinema.ThecentreislocatedonthepopularretailstripofchapelStreet,melbourne.

summary inFormation

GrAdE cBdretail

OWNErSHiP 100%mPT

GLA 6,631sqm

cArSPAcES 632






diScOUNTrATE 9.50%

cENTrEmAT $19m

OccUPANcYcOST 10.2%


ciNEmAcOmO 1,911 Feb20

EcOHAirPrOdUcTS 538 Oct13


VAcANcY 0.0%

FY11 5.5%

FY12 7.2%

FY13 13.4%

FY14 12.8%

FY15 25.0%

BEYONd 36.2%

WALE 4.8 YEArS

giPPsland centre, sale, vic

Description

LocatedintheheartofSale’scBd,some260kmseastofmelbourne,theGippslandcentreincludescoles,Safeway,Targetand42specialtystoreswithabundanton-gradeparking.

summary inFormation

GrAdE Subregional

OWNErSHiP 100%mPT

GLA 22,731sqm

cArSPAcES 999






diScOUNTrATE 9.50%

cENTrEmAT $118m

OccUPANcYcOST 11.9%


TArGET 7,778 Jul15

AUSTrALiANSAFEWAY 3,362 Nov27


VAcANcY 0.6%

FY11 1.2%

FY12 1.9%

FY13 5.0%

FY14 21.8%

FY15 9.6%

BEYONd 60.0%

WALE 5.8 YEArS

47

waverley gardens shoPPing centre, mulgrave, vic

Description

WaverleyGardensShoppingcentreislocatedadjacenttomirvac’sWaverleyParkresidentialdevelopmentandthemonashFreeway.Amajorupgradeandexpansionwascompletedinmarch2007andincludesSafeway,coles,Target,BigW,Aldi,Best&Lessandover100specialtystores.

summary inFormation

GrAdE Subregional

OWNErSHiP 100%mPT

GLA 38,319sqm

cArSPAcES 2,200






diScOUNTrATE 9.25%

cENTrEmAT $166m

OccUPANcYcOST 14.0%


TArGET 6,796 Jun20

BiGW 6,770 mar27


VAcANcY 0.4%

FY11 3.0%

FY12 7.9%

FY13 7.1%

FY14 3.8%

FY15 6.2%

BEYONd 71.6%

WALE 7.9 YEArS

Peninsula liFestyle, mornington, vic

Description

completedin2005,this32,000sqmbulkygoodscentreservicesthegrowingregionofthemorningtonPeninsula.

summary inFormation


OWNErSHiP 100%mPT

GLA 32,135sqm

cArSPAcES 852



VALUEr SAViLLS



diScOUNTrATE 10.25%

cENTrEmAT N/A

OccUPANcYcOST N/A


cLiVEPEETErS 3,203 Aug17

FANTASTicFUrNiTUrE 2,280 Aug12


VAcANcY 0.0%

FY11 4.9%

FY12 14.0%

FY13 13.2%

FY14 22.1%

FY15 16.1%

BEYONd 29.7%

WALE 3.3 YEArS


investment

retail PortFolio

1 STAGE1ONLY.

moonee Ponds central, moonee Ponds, vic

Description

mooneePondscentralisasubregionalcentrelocated7kmnorthofthemelbournecBdandisadjacenttothebusyPuckleStreetretailstrip.Asecondstagewasaddedtothecentreonanadjacentsiteinmarch2009.ThecentrenowoffersaKmart,coles,discountliquorretailerand77specialtystores.

summary inFormation

GrAdE Subregional

OWNErSHiP 100%mPT

GLA 18,582sqm

cArSPAcES 933

AcQUiSiTiONdATE may03&Feb08




cAPiTALiSATiONrATE 7.75%–8.50%

diScOUNTrATE 9.50%–9.75%

cENTrEmAT $93m

OccUPANcYcOST 11.7%1


KmArT 4,728 mar24

cOLES 4,000 may12


VAcANcY 5.2%

FY11 1.3%

FY12 21.9%

FY13 2.0%

FY14 8.7%

FY15 8.5%

BEYONd 52.3%

WALE 6.1 YEArS

49

investment

hotel PortFolio

the como melbourne 630 chaPel street, south yarra, vic

Description

Thecomoisa107room,5starboutiquehotelwhichformspartofthemixedusecomocomplexinthesought-afterinnersouth-easternsuburbofSouthYarra.

property Details

OWNErSHiP 100%mPT

NOOFrOOmS 107

OccUPANcY 73.0%

AVErAGErOOmrATE $238.0

STArrATiNG 5star






diScOUNTrATE 11.00%

property location oWnersHip rooms BooK value

Thecomomelbourne SouthYarra,Vic 100%mPT 107 $25.0m1

total 107 $25.0m

1 BOOKVALUEASAT31dEcEmBEr2010.EXcLUdESFF&E.


investment

ParKing PortFolio

Quay west car ParK 109 – 111 harrington street, sydney, nsw

como centre car ParK chaPel street, south yarra, vic

Description

Aneightlevelcommercialcarparkcomprising600spaces,thepropertyislocatedunderQuayWestSuitesinTherocksareaandclosetothefinancialdistrictoftheSydneycBdandseveral5starhotels.Tworetailoutletsarealsoincorporatedatstreetlevel.

Description

Amulti-levelcarparkcomprising629spacesservicingthecomocentrecomplexincludingoffice,hotel,cinemasandretail.

property Details

OWNErSHiP 100%mPT

NUmBErOFBAYS 600






diScOUNTrATE 10.25%

property Details

OWNErSHiP 100%mPT

NUmBErOFBAYS 629






diScOUNTrATE 10.25%

51

riverside Quay car ParK, corner riverside Quay & southbanK boulevard, melbourne, vic

Description

AseparatebuildingattherearoftheriversideQuaycommercialcomplexprovidinga560spacecarparktotheadjoiningofficebuildingsandsurroundingSouthbankprecinct.

property Details

OWNErSHiP 100%mPT

NUmBErOFBAYS 560






diScOUNTrATE 10.25%

property location oWnersHip type car spaces

% oF parKing portFolio BooK value BooK value

QuayWest Sydney,NSW 100%mPT commercial 600 42.9% $29.0m

Thecomocentre melbourne,Vic 100%mPT commercial/retail 629 28.4% $19.3m

riversideQuay melbourne,Vic 100%mPT commercial 560 28.7% $19.4m

total 1,789 100.0% $67.7m


investment management

retail

WHolesale

Joint ventures 2,3

international – manDates

FunDs

australian – FunDs

FunDs unDer management $54.6 million 1

FunDs unDer management $1.2 Billion

FunDs unDer management $2.6 Billion

unlisteD

international – FunDs

Quadrant real estate advisorshealth suPer Pty ltd

mirvac wholesale hotel Fundtravelodge grouPmirvac wholesale residential develoPment PartnershiP

JF inFrastructure yield Fundaustralian sustainable Forestry investorsnew zealand sustainable Forestry investorsJF inFrastructure sustainable eQuity Fund

mirvac develoPment Fund – seascaPesmirvac develoPment Fund – meadow sPrings

Quadrant Fund 4

caliFornia community mortgage 4

institutional commercial mortgage Fund no 5 4

1 EXcLUdESmirVAciNdUSTriALTrUST.2 FiGUrESQUOTEdArEAFTErAdJUSTmENTSFOrJOiNTVENTUrEiNTErESTS.3 mirVAciSA50PErcENTOWNErOFTHEmANAGEmENTENTiTY.4 FUNdSmANAGEdBYQUAdrANTrEALESTATEAdViSOrS.

53

mirvac WHolesale Hotel FunD

investment management / wholesale

traveloDge group

mirvac WHolesale resiDential Development partnersHip

Focus Fum ($m) 1 no oF investors

Wholesale 511.9 5

mirvacWholesaleHotelFundwaslaunchedin2007andisanopen-endedsectorspecificfundwithtotalinvestorequityof$341millionandaportfolioofsevenhotelslocatedinSydney,melbourne,Brisbaneandcairns.Totalvalueoftheportfoliois$502.4million.

TheFund’sportfolioconsistsoffourhotelsacquiredfromthecarltonHotelGroupin2007,togetherwiththemarriottHotelSydneyanda50percentinterestinTheSebelcairns,bothofwhichwereacquiredfrommirvacinJune2007.

TheFundacquiredthecourtyardbymarriottHotelatNorthrydefor$31millioninAugust2009,reflectinga10percentpassingyield.

Allsevenhotelsareofa4to5starstandardandprovideatotalof2,024rooms.

detailsoftheFund’sinvestmentportfolioareavailablefromwww.mirvac.com/mwhf.

Focus Fum ($m) 2,3 enD value ($m) 3 no oF investors

Wholesale 287.5 1,823 4

ThemirvacWholesaleresidentialdevelopmentPartnershipisaclosed-endvehiclethathasacquiredinterestsin10well-locatedresidentialdevelopment/managementprojectsaroundAustralia,thatarediversifiedbygeography,producttype,timingandstageofthedevelopmentcycle.Theportfoliocomprised2,287lotsand1,167mediumdensityunits.

ThePartnershiphasraisedequitycommitmentsof$300million,includingmirvac’s20percentco-investment,ofwhich$287.5millionhasbeenappliedtotheestablishmentofthecurrentportfolio.

detailsofthePartnership’sinvestmentportfolioareavailablefromwww.mirvac.com/mwrdp.


Wholesale 385.6 2

TheTravelodgeGroupisanopen-endedsectorspecificwholesalefundestablishedinmarch2005andfocusesonthe3to3.5starhotelmarketinAustraliaandNewZealand.Theportfoliocomprises13hotelsand2,045roomswithavalueof$361.7millionallofwhichareleasedtoValueLodgingPtyLimited,asubsidiaryofTogaHospitality.

detailsoftheTravelodgeGroup’sinvestmentportfolioareavailablefromwww.mirvac.com/travelodge-group.

1 SUBJEcTTOFiNALAUdiTANdBOArdAPPrOVAL.2 THEFUmNUmBErrEPrESENTScONTriBUTEdEQUiTY.3 FUmANdENdVALUEArEFOrEcASTTO31dEcEmBEr2010.


investment management / listed – retail 1

mirvac Development FunDs — seascapes & meaDoW springs

unlisted – retail


retail 54.6 442

At31december2010,mirvacinvestmentmanagementhadtwoactiveunlistedfundswithapproximately$54.6millionundermanagement.

detailsoftheunlistedfundportfolioareavailablefromwww.mirvac.com/investmentmanagement.

1 EXcLUdESmirVAciNdUSTriALTrUST.2 SUBJEcTTOFiNALAUdiTANdBOArdAPPrOVAL.

55

investment management / Jv australia

JF inFrastructure

Focus Fum ($m) 1,2 no oF investors

Wholesale 213.8 44

JFinfrastructure(“JFi”)isa50/50jointventurebetweenmirvacandLeightonHoldingsLimited.

WHolesale FunDs

FunD assets gross assets 1

JFinfrastructureYieldFund

20.8%equityinterestininternationalParkingGroupthebeneficialownerofninemajorhospitalcarparksinSydneyandBrisbane.

33.3%equityinterestinBAcAirportsGroup,whichbeneficiallyownsBankstownandcamdenAirportsinSydney.

22.4%equityinterestinJFStadiumTrustswhicharetheownersofEtihadStadium,melbourne. $69.1m 2,3

AustralianSustainableForestryinvestors20,552hectaresoffreeholdforestrylandinVictoria,SouthAustraliaandWesternAustralia.

NewZealandSustainableForestryinvestors12,881hectaresoffreeholdforestrylandinGisborne,NewZealandstockedwith8,636hectaresofstandingradiatapine. $138.2m 3

JFinfrastructureSustainableEquityFundHoldsanequityinvestmentinAustralianSustainableForestryinvestors(assetsasabove). $6.5m

total WHolesale FunDs $213.8m

1 SUBJEcTTOFiNALBOArdAPPrOVAL.2 BEFOrEAdJUSTiNGFOrJOiNTVENTUrEiNTErESTS.3 LATESTiNdEPENdENTVALUATiON30JUNE2010.


QuaDrant real estate aDvisors

1 AUd/USdEXcHANGErATEOF1.0163.2 BEFOrEAdJUSTiNGFOrJOiNTVENTUrEiNTErESTS.

Focus Fum ($m) 1,2

Wholesalefunds $94.5

mandates $4,860.5

QuadrantrealEstateAdvisors,LLchasofficesintheUnitedStates(Atlanta,Georgia)andinSydney.Quadrantprovidesinstitutionalinvestorsafullrangeofcommercialrealestateadvisoryservicesacrossthepublicandprivate,debtandequitysectors.Asat31december2010,QuadranthasapproximatelyA$5.0billion2ofcommercialandmulti-familyrealestateassetsundermanagement.

Quadrant’smanagementteamhasbeenadvisinginstitutionalinvestorssincetheearly1990sanddevelopsandmanagestailoredinvestmentstrategiesonbehalfofawiderangeofUSandAustralianinstitutional(wholesale)investorsacrossthepublicandprivatedebtandequityrealestatemarkets.

clientsinclude:— HealthSuperPtyLimited— californiaPublicEmployees’retirementSystem(“calPErS”)— AXA–EquitableLife— coloradoPublicEmployeesretirementAssociation— minnesotaStateBoardofinvestment

Quadrant’sstrategyistocontinuetodevelopleadingpublicandprivaterealestateinvestmentproductswhichprovideaccesstotargetedsectorsoftheUSandAustralianincomeproducingcommercialandmulti-familyrealestatemarkets.

■ COMMERCIAL 39%

■ MULTI-FAMILY 19%

■ RETAIL 13%

■ OTHER 14%

■ INDUSTRIAL 11%

■ HOTELS 4%

ASSETS UNDER MANAGEMENT(by property type)

ASSETS UNDER MANAGEMENT (by fund type) 1

■ SEPARATE MANDATES 98%

■ WHOLESALE FUNDS 2%

investment management / Jv international

57

the sebel, mandurah, wa


Hotel management portFolio

hotel PortFolio

property stateno oF rooms oWnersHip

nsW

QuayGrandSuitesSydney NSW 65 Strata/managementLot

QuayWestSuitesSydney NSW 102 Strata/managementLot

TheSebelPierOneSydney NSW 160 managed

SydneymarriottHotel NSW 241 managed

TheSebelresidencechatswood NSW 57 Strata/managementLot

TheSebelSurryHillsSydney NSW 270 managed

TheSebelKirktonParkHunterValley NSW 71 managed

TheSebelNewcastleBeach NSW 88 100%Owned

TheSebelresort&SpaHawkesburyValley NSW 105 managed

TheSebelHarboursideKiama NSW 82 managed/Strata

TheSebelmanlyBeach NSW 83 Strata/managementLot

QuayWestresortmagentaShores NSW 101 Strata/managementLot

citigatecentralSydney NSW 255 managed

TheSebelParramatta NSW 194 managed

HarbourrocksHotel NSW 55 managed

citigatemountPanoramaBathurst NSW 111 managed

QStationSydneyHarbourNationalPark NSW 74 managed

vic

Thecomomelbourne Vic 107 100%Owned

QuayWestSuitesmelbourne Vic 104 Strata/managementLot

TheSebelmelbourne Vic 115 Strata/managementLot

TheSebelHeritageYarraValley Vic 102 managed/Strata

citigatemelbourne Vic 179 managed

citigateAlbertParkmelbourne Vic 137 managed

TheSebelAlbertParkmelbourne Vic 242 managed

HotelLindrummelbourne Vic 59 managed

QuayWestresort&SpaFallscreek Vic 63 managed/Strata

TheSebeldeepBlueWarrnambool Vic 80 managed

QlD

QuayWestSuitesBrisbane QLd 59 Strata/managementLot

TheSebelSuitesBrisbane QLd 162 Strata/managementLot

TheSebelcairns QLd 321 managed

TheSebelmaroochydore QLd 56 Strata/managementLot

SeaTempleresort&SpaPalmcove QLd 81 Strata/managementLot

TheSebelreefHouse&SpaPalmcove QLd 69 managed

TheSebelresortNoosa QLd 74 Strata/managementLot

SeaTempleresort&SpaPortdouglas QLd 145 Strata/managementLot

citigateKingGeorgeSquareBrisbane QLd 228 managed

TheSebelKingGeorgeSquareBrisbane QLd 210 managed

cairnsHarbourLights QLd 94 Strata/managementLot

Wa

QuayWestresortBunkerBay WA 150 Strata/managementLot

TheSebelresidenceEastPerth WA 57 managed

citigatePerth WA 277 managed

TheSebelmandurah WA 89 100%Owned

59

property stateno oF rooms oWnersHip

sa

TheSebelPlayfordAdelaide SA 182 Franchise

tas

TheSebelLaunceston TAS 51 managed

nZ

QuayWestSuitesAuckland NZ 53 Strata/managementLot

TheSebelSuitesAuckland NZ 126 Strata/managementLot

TheSebelTrinityWharfTauranga NZ 122 managed

total numBer oF rooms at 31 DecemBer 2010 5,908

Future Hotels

property name stateno oF rooms opening

TheSebelLeightonBeachPerth WA 50 FY12

■ STRATA 27.5%

■ MANAGED 64.6%

■ OWNED 4.8%

■ FRANCHISE 3.1%

■ NSW 35.7%

■ VIC 20.1%

■ QLD 25.4%

■ WA 9.7%

■ SA 3.1%

■ TAS 0.9%

■ NZ 5.1%

OWNERSHIP DIVERSIFICATION(BY HOTEL ROOMS)

GEOGRAPHIC DIVERSIFICATION(BY HOTEL ROOMS)

develoPment

residential develoPment 21,644 lots


resiDential pipeline

residential develoPment

$9.9 BILLION

■ NSW 22.8%■ VIC 28.6%■ QLD 27.8%■ WA 20.8%

FORECAST REVENUE

$6.9 BILLION

■ NSW 25.6%■ VIC 29.0%■ QLD 34.8%■ WA 10.6%

MIRVAC SHAREFORECAST REVENUE

■ NSW 23.8%■ VIC 38.6%■ QLD 30.6%■ WA 7.0%

HOUSE AND LAND

$2.8 BILLION $4.1 BILLION

■ NSW 26.7%■ VIC 22.7%■ QLD 37.7%■ WA 13.0%

APARTMENTS

21,644 LOTS

■ NSW 21.7%■ VIC 38.3%■ QLD 20.5%■ WA 19.6%

LOTS UNDER CONTROL

63

$9.9 BILLION

■ NSW 22.8%■ VIC 28.6%■ QLD 27.8%■ WA 20.8%

FORECAST REVENUE

$6.9 BILLION

■ NSW 25.6%■ VIC 29.0%■ QLD 34.8%■ WA 10.6%


■ NSW 23.8%■ VIC 38.6%■ QLD 30.6%■ WA 7.0%

HOUSE AND LAND


■ NSW 26.7%■ VIC 22.7%■ QLD 37.7%■ WA 13.0%

APARTMENTS

21,644 LOTS

■ NSW 21.7%■ VIC 38.3%■ QLD 20.5%■ WA 19.6%

LOTS UNDER CONTROL

$9.9 BILLION

■ NSW 22.8%■ VIC 28.6%■ QLD 27.8%■ WA 20.8%

FORECAST REVENUE

$6.9 BILLION

■ NSW 25.6%■ VIC 29.0%■ QLD 34.8%■ WA 10.6%


■ NSW 23.8%■ VIC 38.6%■ QLD 30.6%■ WA 7.0%

HOUSE AND LAND


■ NSW 26.7%■ VIC 22.7%■ QLD 37.7%■ WA 13.0%

APARTMENTS

21,644 LOTS

■ NSW 21.7%■ VIC 38.3%■ QLD 20.5%■ WA 19.6%

LOTS UNDER CONTROL

resiDential Forecast revenue


neW soutH Wales

SYDNEY CBD

CHELSEA GARDENS, CASTLE HILL63 LOTS

ELIZABETH HILLS649 LOTS

NEW BRIGHTON GOLF COURSE,NEW BRIGHTON257 LOTS

SPRING FARM427 LOTS

PANORAMA, GLENFIELD655 LOTS

ENDEAVOUR 88SOUTH COOGEE141 LOTS

MIDDLETON GRANGE723 LOTS ASHGROVE, AUBURN

263 LOTS

HOXTON PARK223 LOTS

HAROLD PARK, GLEBE1,213 LOTS

NEWBURY, STANHOPE1,748 LOTS

RHODES WATERSIDERHODES844 LOTS

THE ROYAL, NEWCASTLE167 LOTS

GILLIESTON402 LOTS

FLETCHER268 LOTS


residential estateaPartmentsmixed

65

LOTS UNDER CONTROL4,689

■ HOUSES / LAND 65.0%

■ APARTMENTS 35.0%

MIRVAC SHAREFORECAST REVENUE$1.8 BILLION■ HOUSES / LAND 37.3%


harold ParK, glebe, nsw


1 SETTLEmENTdATESmAYVArYAScircUmSTANcEScHANGE.2 cONSTrUcTiONPrOGrESSASAPErcENTAGEOFcOST,WHicHiNcLUdESLANdSUBdiViSiONBUTNOTLANdAcQUiSiTiON.3 TrANSAcTiONdATE.

neW soutH Wales

residential develoPment / in Progress

propertyacQuisition Date location

proJect value (incl. gst)

total lots releaseD eXcHangeD settleD

settlement Date 1 From to

current price range From/to

proJect perioD construction (calenDar year) progress 2 Description oWnersHip structure

tHe royal Jun07 Newcastle $154m 167 167 121 111 Apartments 100%mirvacLimited

Stage1A $87m 94 94 66 63 Apr10 may14 $500,000–$4.2m mid2007–mid2014 100%

Stage1B $67m 73 73 55 48 Apr10 may14 $330,000–$4.5m mid2007–mid2014 100%

rHoDes WatersiDe mWrDp Jan073 rhodes $474m 699 699 631 474 Apartments

100%mWrdP(mirvacLimited20%equityinterest)

completedStages $170m 259 259 259 259 may08 may10 $380,000–$1.4m end2006–mid2010 100%

Stage4Amarco $145m 222 222 216 215 dec09 may12 $453,000–$1.0m early2008–mid2012 100%

Stage8Elinya $73m 107 107 88 0 Sep11 Jan12 $350,000–$1.2m mid2010–early2012 40%

Stage9WatersEdge $86m 111 111 68 0 mar12 Sep13 $420,000–$1.4m mid2011–end2013 10%

enDeavour 88 Apr03 coogee $214m 141 141 135 0 Housing 100%mirvacLimited

Stage2 $50m 35 35 35 0 may11 Aug11 $1.2m–$1.6m end2009–end2011 80%

Stage3 $69m 46 46 46 0 Sep11 dec11 $1.2m–$1.7m end2010–end2011 30%

Stage4 $48m 31 31 26 0 dec12 Feb12 $1.4m–$1.8m early2011–early2012 0%

Stage5 $47m 29 29 28 0 Feb12 Apr12 $1.3m–$1.8m mid2011–mid2012 0%

67







tHe royal Jun07 Newcastle $154m 167 167 121 111 Apartments 100%mirvacLimited

Stage1A $87m 94 94 66 63 Apr10 may14 $500,000–$4.2m mid2007–mid2014 100%

Stage1B $67m 73 73 55 48 Apr10 may14 $330,000–$4.5m mid2007–mid2014 100%

rHoDes WatersiDe mWrDp Jan073 rhodes $474m 699 699 631 474 Apartments


completedStages $170m 259 259 259 259 may08 may10 $380,000–$1.4m end2006–mid2010 100%

Stage4Amarco $145m 222 222 216 215 dec09 may12 $453,000–$1.0m early2008–mid2012 100%

Stage8Elinya $73m 107 107 88 0 Sep11 Jan12 $350,000–$1.2m mid2010–early2012 40%

Stage9WatersEdge $86m 111 111 68 0 mar12 Sep13 $420,000–$1.4m mid2011–end2013 10%

enDeavour 88 Apr03 coogee $214m 141 141 135 0 Housing 100%mirvacLimited

Stage2 $50m 35 35 35 0 may11 Aug11 $1.2m–$1.6m end2009–end2011 80%

Stage3 $69m 46 46 46 0 Sep11 dec11 $1.2m–$1.7m end2010–end2011 30%

Stage4 $48m 31 31 26 0 dec12 Feb12 $1.4m–$1.8m early2011–early2012 0%

Stage5 $47m 29 29 28 0 Feb12 Apr12 $1.3m–$1.8m mid2011–mid2012 0%




total lots

proJect perioD (calenDar year) Description oWnersHip structure

rHoDes WatersiDe mWrDp Jan07 rhodes $95m 145 mid2011–early2013 Apartments


HarolD parK —1 Sydney $1.1bn 1,213 mid2012–mid2019 residential 100%mirvacLimited

neW soutH Wales

residential develoPment / ProPosed

1 SETTLEmENTTOOccUrPOST31dEcEmBEr2010.

69

rhodes waterside, rhodes, nsw



neW soutH Wales / Homes

1 SETTLEmENTdATESmAYVArYAScircUmSTANcEScHANGE.2 cONSTrUcTiONPrOGrESSASAPErcENTAGEOFcOST,WHicHiNcLUdESLANdSUBdiViSiONBUTNOTLANdAcQUiSiTiON.







panorama Jun01 Glenfield $174m 464 359 323 267 100%mirvacLimited

completedStages $45m 120 120 120 120 dec05 dec09 $250,000–$480,000 mid2001tomid2011 100% mixofresidentialandretaillots

Stage1A $39m 98 98 98 98 dec05 Sep10 $250,000–$502,000 mid2001toend2010 100% mixofresidentialandretaillots

Stage1c $16m 41 32 32 32 Jan09 Oct12 $280,000–$465,000 mid2001toend2012 100% Spechousing

Stage2A $51m 136 109 73 17 Jun10 dec13 $185,000–$460,000 mid2001tomid2013 75% residentiallotsandspechouses

Stage2B $23m 69 0 0 0 Jul11 Nov13 $195,000–$374,000 mid2001toend2013 20% residentiallotsandspechouses

neWBury estate dec99 Stanhope $217m 1,748 1,675 1,675 1,641 mixofresidentialandretaillots PdAwithLandcom

completedStages $198m 1,641 1,641 1,641 1,641 Jun02 Apr10 $150,000–$550,000 mid2000–end2010 100%

Stage8 $19m 107 34 34 0 Jan11 Jul12 $300,000–$490,000 early2011–end2012 5%

asHgrove Jun02 Auburn $127m 263 263 263 230 end2003–mid2011 residentialestate 100%mirvacLimited

completedStages $107m 230 230 230 230 Feb07 Sep10 $185,000–$615,000 100%

Stage6 $20m 33 33 33 0 Feb07 Jun11 $585,000–$610,000 75%

71







panorama Jun01 Glenfield $174m 464 359 323 267 100%mirvacLimited

completedStages $45m 120 120 120 120 dec05 dec09 $250,000–$480,000 mid2001tomid2011 100% mixofresidentialandretaillots

Stage1A $39m 98 98 98 98 dec05 Sep10 $250,000–$502,000 mid2001toend2010 100% mixofresidentialandretaillots

Stage1c $16m 41 32 32 32 Jan09 Oct12 $280,000–$465,000 mid2001toend2012 100% Spechousing

Stage2A $51m 136 109 73 17 Jun10 dec13 $185,000–$460,000 mid2001tomid2013 75% residentiallotsandspechouses

Stage2B $23m 69 0 0 0 Jul11 Nov13 $195,000–$374,000 mid2001toend2013 20% residentiallotsandspechouses

neWBury estate dec99 Stanhope $217m 1,748 1,675 1,675 1,641 mixofresidentialandretaillots PdAwithLandcom

completedStages $198m 1,641 1,641 1,641 1,641 Jun02 Apr10 $150,000–$550,000 mid2000–end2010 100%

Stage8 $19m 107 34 34 0 Jan11 Jul12 $300,000–$490,000 early2011–end2012 5%

asHgrove Jun02 Auburn $127m 263 263 263 230 end2003–mid2011 residentialestate 100%mirvacLimited

completedStages $107m 230 230 230 230 Feb07 Sep10 $185,000–$615,000 100%

Stage6 $20m 33 33 33 0 Feb07 Jun11 $585,000–$610,000 75%










cHelsea garDens Jun02 castleHill $51m 63 63 63 63 Aug07 dec10 $685,000–$920,000 mid2002–end2010 100% residentialestate 100%mirvacLimited

gillieston Jul06 Gillieston $85m 402 138 83 73 mar08 may16 $140,000–$430,000 early2008–mid2016 40% residentialestate 100%mirvacLimited

spring Farm Jun08 SpringFarm $72m 253 205 173 163 100%mirvacLimited

Stage1 $35m 120 120 112 112 Oct08 Jun11 $185,000–$410,000 mid2008–end2011 100% residentialestate

Stage2A $13m 56 54 47 39 Nov09 Jun11 $170,000–$380,000 mid2008–mid2012 80% Builtformandlandlots

Stage2B $12m 47 31 13 11 dec10 Apr12 $150,000–$345,000 mid2008–early2012 50% Builtformandlandlots

Stage2c $7m 29 0 0 0 may11 Apr12 $150,000–$345,000 mid2008–mid2013 50% Builtformandlandlots

Stage6 $1m 1 1 1 1 Jun10 Jun10 mid2008–mid2010 100% Lotsale

miDDleton grange Sep07 middleton $73m 249 249 249 245 residentialestate PdAwithLandcom

Stage1A $24m 75 75 75 75 Apr09 Oct12 $175,000–$280,000 end2007–end2012 100%

Stage1B $14m 56 56 56 56 Sep09 Feb11 $180,000–$300,000 mid2007–mid2011 100%

Stage2 $29m 87 87 87 85 Feb10 Aug11 $180,000–$400,000 end2007–mid2011 100%

Stage3 $6m 31 31 31 29 Oct10 Jul11 $180,000–$465,000 end2007–end2011 100%

FletcHer dec07 Fletcher $41m 268 106 93 87 Nov08 dec13 $160,000–$510,000 end2007–mid2013 45% residentialestate PdAwithKingstonFletcher

eliZaBetH Hills Sep07 ElizabethHills $24m 100 0 0 0 Jan12 Apr12 $275,000–$550,000 mid2010–mid2012 5% PdAwithLandcom


73







cHelsea garDens Jun02 castleHill $51m 63 63 63 63 Aug07 dec10 $685,000–$920,000 mid2002–end2010 100% residentialestate 100%mirvacLimited

gillieston Jul06 Gillieston $85m 402 138 83 73 mar08 may16 $140,000–$430,000 early2008–mid2016 40% residentialestate 100%mirvacLimited

spring Farm Jun08 SpringFarm $72m 253 205 173 163 100%mirvacLimited

Stage1 $35m 120 120 112 112 Oct08 Jun11 $185,000–$410,000 mid2008–end2011 100% residentialestate

Stage2A $13m 56 54 47 39 Nov09 Jun11 $170,000–$380,000 mid2008–mid2012 80% Builtformandlandlots

Stage2B $12m 47 31 13 11 dec10 Apr12 $150,000–$345,000 mid2008–early2012 50% Builtformandlandlots

Stage2c $7m 29 0 0 0 may11 Apr12 $150,000–$345,000 mid2008–mid2013 50% Builtformandlandlots

Stage6 $1m 1 1 1 1 Jun10 Jun10 mid2008–mid2010 100% Lotsale

miDDleton grange Sep07 middleton $73m 249 249 249 245 residentialestate PdAwithLandcom

Stage1A $24m 75 75 75 75 Apr09 Oct12 $175,000–$280,000 end2007–end2012 100%

Stage1B $14m 56 56 56 56 Sep09 Feb11 $180,000–$300,000 mid2007–mid2011 100%

Stage2 $29m 87 87 87 85 Feb10 Aug11 $180,000–$400,000 end2007–mid2011 100%

Stage3 $6m 31 31 31 29 Oct10 Jul11 $180,000–$465,000 end2007–end2011 100%

FletcHer dec07 Fletcher $41m 268 106 93 87 Nov08 dec13 $160,000–$510,000 end2007–mid2013 45% residentialestate PdAwithKingstonFletcher

eliZaBetH Hills Sep07 ElizabethHills $24m 100 0 0 0 Jan12 Apr12 $275,000–$550,000 mid2010–mid2012 5% PdAwithLandcom






total lots


panorama Jun01 Glenfield $69m 191 end2007–end2015mixofresidentialandretaillots 100%mirvacLimited

spring Farm Jun08 SpringFarm $41m 174 mid2008–end2011 Houses 100%mirvacLimited

miDDleton grange dec10 middleton $127m 474 mid2012–mid2013mixofresidentialandretaillots 100%mirvacLimited

eliZaBetH Hills Sep07 SouthcecilHills $144m 549 mid2012–mid2015 Landlots PdAwithLandcom

HoXton parK dec10 HoxtonPark $77m 223 mid2011–end2015mixofresidentialandretaillots 100%mirvacLimited

neW BrigHton golF course dec10 NewBrighton $105m 257 end2010–mid2016 integratedhousing

PdAwithNewBrightonGolfclub

75

ashgrove, auburn, nsw


FAIRWAYS, BROOKWATER186 LOTS

MARINER’S PENINSULA, TOWNSVILLE191 LOTS

TENNYSON REACH,TENNYSON

392 LOTS

HAMILTON582 LOTS

JOYNER32 LOTS

WATERFRONT, NEWSTEAD724 LOTS

THE SANCTUARY, MOGGILL358 LOTS

MOSSVALE ON MANLY,WAKERLEY

180 LOTS

HOPE ISLAND178 LOTS

EPHRAIM ISLAND, PARADISE POINT383 LOTS

BRISBANE CBD

GAINSBOROUGH GREENS, PIMPAMA2,255 LOTS


QueenslanD


77






waterFront, newstead, Qld




QueenslanD







mossvale on manly mWrDp Jun073 Wakerley $123m 180 82 65 60 Houses


completedStages $26m 39 39 39 39 Oct08 Jan10 $620,000–$740,000 mid2007–early2010 100%

Stage9 $97m 141 43 26 21 Feb10 Jun13 $610,000–$765,000 early2009–mid2013 40%

epHraim islanD Nov01 ParadisePoint $504m 383 382 331 331

50%mirvacLimited50%LewisLandGroupofcompanies

completedStages $155m 101 101 101 101 Apr06 Feb10 $755,000–$4.9m mid2004–early2010 100% Apartments,villas,marinaberthsandland

Stage1 $140m 136 135 135 135 Jun05 Jun14 $525,000–$2.8m mid2003–mid2014 100% Apartmentsandmarinaberths

Stage3 $126m 85 85 70 70 dec06 Aug12 $675,000–$4.5m mid2005–mid2012 100% Apartments,housesandmarinaberths

Stage4B $82m 61 61 25 25 Apr08 dec14 $745,000–$4.7m early2005–end2014 100% Apartmentsandmarinaberths

tHe sanctuary on moggill Sep04 moggill $84m 290 228 212 210 100%mirvacLimited

completedStages $55m 178 178 178 178 mar07 mar10 $175,000–$700,000 end2006–mid2010 100% Housesandland

Stage2A $13m 50 50 34 32 Sep10 Jun11 $230,000–$285,000 early2010–mid2011 100% Land

Stage2B $16m 62 0 0 0 Sep11 Sep12 $240,000–$280,000 early2011–late2012 0% Land

79







mossvale on manly mWrDp Jun073 Wakerley $123m 180 82 65 60 Houses


completedStages $26m 39 39 39 39 Oct08 Jan10 $620,000–$740,000 mid2007–early2010 100%

Stage9 $97m 141 43 26 21 Feb10 Jun13 $610,000–$765,000 early2009–mid2013 40%

epHraim islanD Nov01 ParadisePoint $504m 383 382 331 331

50%mirvacLimited50%LewisLandGroupofcompanies

completedStages $155m 101 101 101 101 Apr06 Feb10 $755,000–$4.9m mid2004–early2010 100% Apartments,villas,marinaberthsandland

Stage1 $140m 136 135 135 135 Jun05 Jun14 $525,000–$2.8m mid2003–mid2014 100% Apartmentsandmarinaberths

Stage3 $126m 85 85 70 70 dec06 Aug12 $675,000–$4.5m mid2005–mid2012 100% Apartments,housesandmarinaberths

Stage4B $82m 61 61 25 25 Apr08 dec14 $745,000–$4.7m early2005–end2014 100% Apartmentsandmarinaberths

tHe sanctuary on moggill Sep04 moggill $84m 290 228 212 210 100%mirvacLimited

completedStages $55m 178 178 178 178 mar07 mar10 $175,000–$700,000 end2006–mid2010 100% Housesandland

Stage2A $13m 50 50 34 32 Sep10 Jun11 $230,000–$285,000 early2010–mid2011 100% Land

Stage2B $16m 62 0 0 0 Sep11 Sep12 $240,000–$280,000 early2011–late2012 0% Land


QueenslanD









tennyson reacH Aug05 Tennyson $297m 207 207 157 154 Apartments 100%mirvacLimited

SoftstoneandLushington $190m 115 115 112 109 may09 Jun11 $895,000–$4.9m mid2007–mid2011 100%

Farringford $107m 92 92 45 45 mar10 may12 $680,000–$5.2m end2007–mid2012 100%

FairWays may06 Brookwater $28m 57 23 20 20 Townhouses 100%mirvacLimited

Stage1 $12m 23 23 20 20 Jul09 Nov11 $400,000–$725,00 end2007–end2011 100%

Stage2 $16m 34 0 0 0 Feb12 Jul13 $410,000–$560,000 mid2010–mid2013 15%

mariner’s peninsula mWrDp Jun073 Townsville $88m 101 101 101 99 Jul09 Jun11 $305,000–$2.5m mid2007–end2011 100% Apartments


Hope islanD mWrDp Jun073 Hopeisland $30m 59 59 59 59 Apartmentsandvacantland


completedStages $16m 22 22 22 22 Jan08 Jun10 $400,000–$895,000 mid2007–mid2010 100%

7thFairway $14m 37 37 37 37 Jan08 Oct10 $315,000–$535,000 mid2007–end2010 100%

gainsBorougH greens Oct06 Pimpama $33m 119 84 32 1 Oct10 Sep12 $170,000–$615,000 end2006–end2012 100% Vacantlandandhouses 100%mirvacLimited

Joyner Jan10 Joyner $11m 32 32 29 29 Feb10 Jun11 $320,000–$810,000 early2010–mid2011 100% Vacantland 100%mirvacLimited

WaterFront Apr08 Newstead $107m 102 102 31 0 Jun12 may13 $495,000–$2.3m mid2010–mid2013 5% Apartments 100%mirvacLimited

WaterFront mWrDp Jun083 Newstead $352m 99 99 54 0 may11 Oct12 $2.0m–$14.2m mid2008–mid2012 98% Apartments100%mWrdP(mirvacLimited20%equityinterest)

81







tennyson reacH Aug05 Tennyson $297m 207 207 157 154 Apartments 100%mirvacLimited

SoftstoneandLushington $190m 115 115 112 109 may09 Jun11 $895,000–$4.9m mid2007–mid2011 100%

Farringford $107m 92 92 45 45 mar10 may12 $680,000–$5.2m end2007–mid2012 100%

FairWays may06 Brookwater $28m 57 23 20 20 Townhouses 100%mirvacLimited

Stage1 $12m 23 23 20 20 Jul09 Nov11 $400,000–$725,00 end2007–end2011 100%

Stage2 $16m 34 0 0 0 Feb12 Jul13 $410,000–$560,000 mid2010–mid2013 15%

mariner’s peninsula mWrDp Jun073 Townsville $88m 101 101 101 99 Jul09 Jun11 $305,000–$2.5m mid2007–end2011 100% Apartments


Hope islanD mWrDp Jun073 Hopeisland $30m 59 59 59 59 Apartmentsandvacantland


completedStages $16m 22 22 22 22 Jan08 Jun10 $400,000–$895,000 mid2007–mid2010 100%

7thFairway $14m 37 37 37 37 Jan08 Oct10 $315,000–$535,000 mid2007–end2010 100%

gainsBorougH greens Oct06 Pimpama $33m 119 84 32 1 Oct10 Sep12 $170,000–$615,000 end2006–end2012 100% Vacantlandandhouses 100%mirvacLimited

Joyner Jan10 Joyner $11m 32 32 29 29 Feb10 Jun11 $320,000–$810,000 early2010–mid2011 100% Vacantland 100%mirvacLimited

WaterFront Apr08 Newstead $107m 102 102 31 0 Jun12 may13 $495,000–$2.3m mid2010–mid2013 5% Apartments 100%mirvacLimited

WaterFront mWrDp Jun083 Newstead $352m 99 99 54 0 may11 Oct12 $2.0m–$14.2m mid2008–mid2012 98% Apartments100%mWrdP(mirvacLimited20%equityinterest)


QueenslanD




total lots


tHe sanctuary on moggill Sep04 moggill $18m 68 early2012-early2014 Land 100%mirvacLimited

WaterFront Apr08 Newstead $742m 523 mid2012–end2019 Apartments 100%mirvacLimited

tennyson reacH Development Aug05 Tennyson $290m 185 early2013–early2017 Apartments 100%mirvacLimited

FairWays may06 Brookwater $86m 129 mid2011–end2016Townhousesandhouses 100%mirvacLimited

mariner’s peninsula Jun06 Townsville $101m 86 mid2011–early2014 Apartments/land 100%mirvacLimited

gainsBorougH greens Oct06 Pimpama $677m 2,136 early2011–end2020

Houses,townhousesandland 100%mirvacLimited

Hope islanD Jan07 Hopeisland $28m 52 mid2011–mid2013 Vacantland 100%mirvacLimited

Hamilton Jun10 Hamilton $325m 582 mid2012–mid2016 Apartments 100%mirvacLimited

83

the sanctuary on moggill, moggil, Qld


victoria


MELBOURNE CBDROCKBANK

5,780 LOTS

YARRA'S EDGE, DOCKLANDS1,176 LOTS

LAUREATE, ALBERT PARK46 LOTS

ARGYLE AT WATERWAYS,BRAESIDE

145 LOTS

WAVERLEY PARK, MULGRAVE1,307 LOTS

HARCREST, WANTIRNA SOUTH845 LOTS


85

MELBOURNE CBDROCKBANK

5,780 LOTS

YARRA'S EDGE, DOCKLANDS1,176 LOTS

LAUREATE, ALBERT PARK46 LOTS

ARGYLE AT WATERWAYS,BRAESIDE

145 LOTS

WAVERLEY PARK, MULGRAVE1,307 LOTS

HARCREST, WANTIRNA SOUTH845 LOTS






yarra’s edge, docKlands, vic



victoria








Waverley parK dec013 mulgrave $555m 1050 938 913 791 Houses 100%mirvacLimited

completedStages $294m 623 623 623 623 Nov03 Apr10 $245,000–$945,000 mid2002–mid2010 100%

Stage5 $81m 118 114 114 114 Oct09 mar11 $475,000–$900,000 mid2008–early2011 100%

Stage6 $35m 52 25 23 0 mar11 Sep13 $495,000–$800,000 mid2010–end2013 15%

Stage7 $46m 93 54 54 54 mar08 Apr10 $370,000–$775,000 end2007–mid2012 60%

Stage10 $71m 123 89 71 0 Jun11 Oct12 $495,000–$825,000 end2010–mid2012 30%

Stage12 $28m 41 33 28 0 Sep12 Aug12 $495,000–$1.0m mid2011–end2012 20%

yarra’s eDge mar04 docklands $430m 432 419 276 132 100%mirvacLimited

marina $19m 149 149 99 91 Jan05 Jun15 $120,000–$225,000 mid2004–dec2008 100% marinaberths

riverPrecinctLowrise $220m 82 74 68 41 may10 Aug12 $885,000–$6.0m early2007–early2014 50% Luxuryhousesincludingmarinaberths

YarraPoint $191m 201 196 109 0 Apr13 mar14 $500,000–$2.4m mid2008–early2015 2% Luxuryhighriseapartments

argyle at WaterWays mWrDp Apr063 Braeside $81m 145 145 141 97 Oct08 Sep11 $420,000–$745,000 mid2007–end2011 85% Houses


laureate Jul07 Portmelbourne $95m 46 46 37 0 Apr11 Sep11 $1.4m–$3.2m end2009–mid2011 80% innercitytownhouses 100%mirvacLimited

Harcrest mWrDp Feb083 Scoresby $93m 187 91 85 0 Housesandland100%mWrdP(mirvacLimited20%equityinterest)

Stage1 $56m 104 50 47 0 may11 Jul14 $400,000–$900,000 end2010–mid2014 10%

Stage2 $37m 83 41 38 0 Sep11 Jun12 $500,000–$600,000 end2010–mid2012 5%

87







Waverley parK dec013 mulgrave $555m 1050 938 913 791 Houses 100%mirvacLimited

completedStages $294m 623 623 623 623 Nov03 Apr10 $245,000–$945,000 mid2002–mid2010 100%

Stage5 $81m 118 114 114 114 Oct09 mar11 $475,000–$900,000 mid2008–early2011 100%

Stage6 $35m 52 25 23 0 mar11 Sep13 $495,000–$800,000 mid2010–end2013 15%

Stage7 $46m 93 54 54 54 mar08 Apr10 $370,000–$775,000 end2007–mid2012 60%

Stage10 $71m 123 89 71 0 Jun11 Oct12 $495,000–$825,000 end2010–mid2012 30%

Stage12 $28m 41 33 28 0 Sep12 Aug12 $495,000–$1.0m mid2011–end2012 20%

yarra’s eDge mar04 docklands $430m 432 419 276 132 100%mirvacLimited

marina $19m 149 149 99 91 Jan05 Jun15 $120,000–$225,000 mid2004–dec2008 100% marinaberths

riverPrecinctLowrise $220m 82 74 68 41 may10 Aug12 $885,000–$6.0m early2007–early2014 50% Luxuryhousesincludingmarinaberths

YarraPoint $191m 201 196 109 0 Apr13 mar14 $500,000–$2.4m mid2008–early2015 2% Luxuryhighriseapartments

argyle at WaterWays mWrDp Apr063 Braeside $81m 145 145 141 97 Oct08 Sep11 $420,000–$745,000 mid2007–end2011 85% Houses


laureate Jul07 Portmelbourne $95m 46 46 37 0 Apr11 Sep11 $1.4m–$3.2m end2009–mid2011 80% innercitytownhouses 100%mirvacLimited

Harcrest mWrDp Feb083 Scoresby $93m 187 91 85 0 Housesandland100%mWrdP(mirvacLimited20%equityinterest)

Stage1 $56m 104 50 47 0 may11 Jul14 $400,000–$900,000 end2010–mid2014 10%

Stage2 $37m 83 41 38 0 Sep11 Jun12 $500,000–$600,000 end2010–mid2012 5%


victoria




total lots


Waverley parK dec01 mulgrave $153m 257 mid2013–early2016 integratedhousing 100%mirvacLimited

yarra’s eDge dec09 docklands $842m 744 mid2009–mid2020 Apartments 100%mirvacLimited

rocKBanK Nov06 rockbank $1.1bn 5,780 early2012–mid2032 Landsubdivision

50%mirvacLimited50%Jayalandcorporation

Harcrest mWrDp Feb081 Scoresby $353m 658 early2012–mid2017 Houses


1 TrANSAcTiONdATE.

89

laureate, Port melbourne, vic


Western australia


PERTH CBD

MINDARIE KEYS, MINDARIE 1,541 LOTS

ALEXANDRA VILLAGE, KENSINGTON

15 LOTS

THE PENINSULA, BURSWOOD

669 LOTS

SWANBOURNE95 LOTS

JANE BROOK216 LOTS

BEACHSIDE LEIGHTON,NORTH FREMANTLE

157 LOTS

BINNINGUP1,837 LOTS

KENNEDY BAY, PORT KENNEDY369 LOTS

MANDURAH2,468 LOTS


91

PERTH CBD

MINDARIE KEYS, MINDARIE 1,541 LOTS

ALEXANDRA VILLAGE, KENSINGTON

15 LOTS

THE PENINSULA, BURSWOOD

669 LOTS

SWANBOURNE95 LOTS

JANE BROOK216 LOTS

BEACHSIDE LEIGHTON,NORTH FREMANTLE

157 LOTS

BINNINGUP1,837 LOTS

KENNEDY BAY, PORT KENNEDY369 LOTS

MANDURAH2,468 LOTS






the Point, mandurah, wa


Western australia









minDarie Keys Jan96 mindarie $298m 1,541 1,541 1,538 1,538 Landsubdivision 15%JointVentureVarious

completedStages $273m 1,519 1,519 1,519 1,519 Jun03 Apr10 $185,000–$12.7m early1996–mid2010 100%

Stage5B(ii) $25m 22 22 19 19 Jun08 Jun11 $790,000–$1.8m mid2007–mid2011 100%

tHe peninsula australiansuper manDate Feb03 Burswood $488m 396 384 342 332

50%mirvacLimited50%AustralianSuperFund

completedStages $217m 168 168 168 168 may07 mar10 $540,000–$13.4m early2003–early2010 100% Apartments,Housing,commercial

Allegro–Tower1 $2m 2 1 1 1 Apr09 Aug11 $450,000–$825,000 early2003–mid2011 100% Apartments

Axis–Tower2 $27m 29 28 28 28 Apr09 mar11 $475,000–$2.3m early2003–mid2011 100% Apartments

Aurora–Tower4 $158m 133 131 100 95 dec09 Jun13 $620,000–$4.9m mid2006–mid2013 100% Apartments

Aquarius–Tower5 $84m 64 56 45 40 Jun10 Jun13 $750,000–$3.9m early2007–mid2013 100% Apartments

manDuraH synDicates mWrDp mandurah $88m 383 270 151 146


BridgewatermWrdP Jun073 $15m 72 50 24 23 Jun08 Sep14 $180,000–$260,000 mid2007–end2014 95% Land

meadowSpringsmWrdPSyndicate Jun073 $46m 234 186 119 115 mar09 Jul12 $150,000–$240,000 mid2007–mid2012 80% Land

SeascapesTowncentremWrdPSyndicate Jun083 $27m 77 34 8 8 mar09 Sep12 $160,000–$2.3m mid2008–end2012 100% mixofresidentialandretaillots

manDuraH synDicates mirvac FunDs management mandurah $229m 981 810 723 719

mirvacdevelopmentFund–Seascapes dec05 $134m 530 414 362 358 Jun06 mar13 $120,000–$4.0m mid2006–early2013 85% Land

100%mirvacdevelopmentFund–Seascapes

mirvacdevelopmentFund–meadowSprings Jun06 $95m 451 396 361 361 dec06 dec11 $140,000–$3.1m mid2006–end2011 95% Land

100%mirvacdevelopmentFund–meadowSprings

meaDoW springs Housing Aug03 mandurah $93m 183 183 180 176 100%mirvacLimited

completedStages $55m 83 83 83 83 mar07 Sep09 $170,000–17.2m mid2003–end2009 100% ArchitecturallydesignedhomesandGolfcourse

PortrushGreen $32m 70 70 68 64 may08 Jun11 $350,000–$675,000 mid2003–mid2011 100% Houses

r60Site(Land) $5m 29 29 29 29 Jun08 Jun10 $145,000–$240,000 mid2003–mid2010 100% Land

EdenSprings(BuiltForm—Lot575) $450,000 1 1 0 0 Oct10 Jun11 $450,000 mid2006–mid2011 60% Landandhouselot

tHe point dec05 mandurah $174m 149 142 108 102 100%mirvacLimited

BuildingA $27m 24 19 6 6 Jun09 Jun13 $638,000–$3.0m end2005–mid2012 100% Hotelandapartments

BuildingB $89m 78 78 70 64 dec08 may13 $570,000–$3.7m end2005–mid2013 100% Apartments

Buildingc $59m 47 45 32 32 dec08 Jun13 $590,000–$3.8m end2005–mid2013 100% Apartments

93







minDarie Keys Jan96 mindarie $298m 1,541 1,541 1,538 1,538 Landsubdivision 15%JointVentureVarious

completedStages $273m 1,519 1,519 1,519 1,519 Jun03 Apr10 $185,000–$12.7m early1996–mid2010 100%

Stage5B(ii) $25m 22 22 19 19 Jun08 Jun11 $790,000–$1.8m mid2007–mid2011 100%

tHe peninsula australiansuper manDate Feb03 Burswood $488m 396 384 342 332

50%mirvacLimited50%AustralianSuperFund

completedStages $217m 168 168 168 168 may07 mar10 $540,000–$13.4m early2003–early2010 100% Apartments,Housing,commercial

Allegro–Tower1 $2m 2 1 1 1 Apr09 Aug11 $450,000–$825,000 early2003–mid2011 100% Apartments

Axis–Tower2 $27m 29 28 28 28 Apr09 mar11 $475,000–$2.3m early2003–mid2011 100% Apartments

Aurora–Tower4 $158m 133 131 100 95 dec09 Jun13 $620,000–$4.9m mid2006–mid2013 100% Apartments

Aquarius–Tower5 $84m 64 56 45 40 Jun10 Jun13 $750,000–$3.9m early2007–mid2013 100% Apartments

manDuraH synDicates mWrDp mandurah $88m 383 270 151 146


BridgewatermWrdP Jun073 $15m 72 50 24 23 Jun08 Sep14 $180,000–$260,000 mid2007–end2014 95% Land

meadowSpringsmWrdPSyndicate Jun073 $46m 234 186 119 115 mar09 Jul12 $150,000–$240,000 mid2007–mid2012 80% Land

SeascapesTowncentremWrdPSyndicate Jun083 $27m 77 34 8 8 mar09 Sep12 $160,000–$2.3m mid2008–end2012 100% mixofresidentialandretaillots

manDuraH synDicates mirvac FunDs management mandurah $229m 981 810 723 719

mirvacdevelopmentFund–Seascapes dec05 $134m 530 414 362 358 Jun06 mar13 $120,000–$4.0m mid2006–early2013 85% Land

100%mirvacdevelopmentFund–Seascapes

mirvacdevelopmentFund–meadowSprings Jun06 $95m 451 396 361 361 dec06 dec11 $140,000–$3.1m mid2006–end2011 95% Land


meaDoW springs Housing Aug03 mandurah $93m 183 183 180 176 100%mirvacLimited

completedStages $55m 83 83 83 83 mar07 Sep09 $170,000–17.2m mid2003–end2009 100% ArchitecturallydesignedhomesandGolfcourse

PortrushGreen $32m 70 70 68 64 may08 Jun11 $350,000–$675,000 mid2003–mid2011 100% Houses

r60Site(Land) $5m 29 29 29 29 Jun08 Jun10 $145,000–$240,000 mid2003–mid2010 100% Land

EdenSprings(BuiltForm—Lot575) $450,000 1 1 0 0 Oct10 Jun11 $450,000 mid2006–mid2011 60% Landandhouselot

tHe point dec05 mandurah $174m 149 142 108 102 100%mirvacLimited

BuildingA $27m 24 19 6 6 Jun09 Jun13 $638,000–$3.0m end2005–mid2012 100% Hotelandapartments

BuildingB $89m 78 78 70 64 dec08 may13 $570,000–$3.7m end2005–mid2013 100% Apartments

Buildingc $59m 47 45 32 32 dec08 Jun13 $590,000–$3.8m end2005–mid2013 100% Apartments


Western australia









sWanBourne Jun05 Swanbourne $60m 58 58 51 51 Landsubdivision,housesandapartments50%mirvacLimited50%Landcorp

completedStages $49m 51 51 51 51 Nov07 Jun09 $840,000–$1.9m mid2005–mid2009 100%

Stage2 $11m 7 7 0 0 mar11 Sep11 $1.5–$1.8m start2008–end2011 100%

Binningup Jan08 Binningup $10m 42 40 9 9 LandlotsPdAwithBinningupNominees

Stage5–LakewoodShores $4m 18 17 4 4 Jul09 dec11 $175,000–$235,000 mid2009–end2011 100%

Stage6–LakewoodShores $6m 24 23 5 5 Feb10 Jun12 $225,000–$250,000 mid2009–mid2012 100%

BeacHsiDe leigHton Aug06 NorthFremantle $206m 68 60 59 30 Oct10 Jan12 $1.4m–$9.0m mid2006–start2012 80% residentiallots 100%mirvacLimited

aleXanDra village Nov07 Kensington $7m 15 15 15 15 Sep09 Nov10 $400,000–$500,000 early2008–end2010 100% retirementvillage PdAwithNGALA

KenneDy Bay Oct06 PortKennedy $299m 369 0 0 0 may12 may19 $240,000–$2.0m end2006–mid2019 5% Landsubdivision,housesandapartments PdAwithWABGr

Jane BrooK Jul06 JaneBrook $10m 38 0 0 0 Jun11 Nov11 255,000 mid2010–end2011 40% Urbanlandlots 100%mirvacLimited

95







sWanBourne Jun05 Swanbourne $60m 58 58 51 51 Landsubdivision,housesandapartments50%mirvacLimited50%Landcorp

completedStages $49m 51 51 51 51 Nov07 Jun09 $840,000–$1.9m mid2005–mid2009 100%

Stage2 $11m 7 7 0 0 mar11 Sep11 $1.5–$1.8m start2008–end2011 100%

Binningup Jan08 Binningup $10m 42 40 9 9 LandlotsPdAwithBinningupNominees

Stage5–LakewoodShores $4m 18 17 4 4 Jul09 dec11 $175,000–$235,000 mid2009–end2011 100%

Stage6–LakewoodShores $6m 24 23 5 5 Feb10 Jun12 $225,000–$250,000 mid2009–mid2012 100%

BeacHsiDe leigHton Aug06 NorthFremantle $206m 68 60 59 30 Oct10 Jan12 $1.4m–$9.0m mid2006–start2012 80% residentiallots 100%mirvacLimited

aleXanDra village Nov07 Kensington $7m 15 15 15 15 Sep09 Nov10 $400,000–$500,000 early2008–end2010 100% retirementvillage PdAwithNGALA

KenneDy Bay Oct06 PortKennedy $299m 369 0 0 0 may12 may19 $240,000–$2.0m end2006–mid2019 5% Landsubdivision,housesandapartments PdAwithWABGr

Jane BrooK Jul06 JaneBrook $10m 38 0 0 0 Jun11 Nov11 255,000 mid2010–end2011 40% Urbanlandlots 100%mirvacLimited


Western australia




total lots


Jane BrooK Jul06 JaneBrook $60m 178 mid2010–early2014 Land 100%mirvacLimited

BeacHsiDe leigHton Aug06 NorthFremantle $251m 89 early2007–early2015Housesandapartments 100%mirvacLimited

Binningup Jan08 Binningup $604m 1,795 mid2008–end2031 LandPdAwithBinningupNominees

sWanBourne Jun05 Swanbourne $65m 37 end2008–early2016Housesandapartments JVwithLandcorp

tHe peninsula, australiansuper manDate Feb03 Burswood $340m 273 end2010–mid2017

Housingandapartments JVwithASF

manDuraH synDicates mWrDp

BridgewatermWrdP Jun07 mandurah $66m 245 mid2010–mid2014 Land

PdAwithmWrdPmirvacLimited20%equityinterest

meadowSpringsmWrdP Jun07 mandurah $57m 244 mid2007–mid2014 Land


SeascapesTowncentremWrdP Jun08 mandurah $32m 102 mid2011–mid2014 Land


manDuraH synDicates mirvac FunDs management

mirvacdevelopmentFund–meadowSprings Jun06 mandurah $39m 180 mid2010–end2013 Land


97

develoPment englobo sales

lots proJect state 30 June target sale Dates magenta shores nsw 347 seP 11 the royal, newcastle nsw 171 Jan 12 brendale Qld n/a dec 11 bridgewater wa 392 nov 12 dianella wa 81 Jun 11

the Peninsula, burswood, wa


commercial develoPment

Description

NewPremiumGradecommercialofficedevelopmentonalandmarkSydneycBdsite.Keytothedesignistheinnovativetenancy“villages”concept.Thetowercomprisessevenunique“villages”eachprovidingunparalleledconnectivity,interactionandamenitythroughverticalintegration.Thevillagesrangeinsizefrom1,800to2,650sqmandareseparatedbysinglefloors,withatotalnetlettableareaofover19,100sqm.

oWnersHip

100%mPT

VALUATiONAT31dEcEmBEr10 $36.5m

VALUEr SAViLLS

LASTEXTErNALVALUATiON 31dec10

cOSTTOcOmPLETE $245.6m

YiELdONcOST 7.5%


FOrEcASTcOmPLETiON FY14

proJect upDate

Stage2dAapprovedanddemolitionhascommenced.

8 chiFley sQuare, sydney, nsw in Progress

1 FOrEcASTmirVAcSHArEOFTOTALPrOJEcTcOSTS.

10 – 20 bond street, sydney, nsw in Progress

Description

majorrefurbishmentof38,000sqmacross31levelsofofficespace.Whencompletethecomplexwillprovideanentirelynewandarchitecturallystrikinglobby;premiumgradeservicesandstrongstainabilitycredentialsincludingtheuseofchilledbeam,T5lightingandtri-generation.Therefurbishmenttargets5starNABErSa4starGreenStarratings.

oWnersHip

50%mPT,50%iNGOFFicEFUNd




cOSTTOcOmPLETE $60.0m1

YiELdONcOST 7.5%



proJect upDate

Theprojectremainsontargetforcompletionin2011.

99

nexus industry ParK (building 5) lyn Parade, Prestons, nsw in Progress

Description

NewnationaldistributionandcorporateheadquartersforHPmLegrandAustralia.Thisnew23,000sqmhighqualityfacilityhasdirectexposureandaccesstothem7Westlink.

hoxton ParK airPort, intersection oF m7 and cowPasture road, hoxton ParK, nsw 1 in Progress

Description

majorindustrialprojectcomprisingtwodistributioncentres100%preleasedtoWoolworthsLimited.Building1comprisesa90,000sqmstateoftheartpurposebuiltfacilityforBigW.Building2isa50,000sqmnationaldistributioncentrewhichwillhousedickSmith.

oWnersHip

100%mirvacLimited

VALUATiONAT31dEcEmBEr10 N/A

VALUEr N/A

LASTEXTErNALVALUATiON N/A


YiELdONcOST 8.0%



proJect upDate

Theprojectremainsontargetforcompletioninearly2012.

oWnersHip

100%mPT


VALUEr SAViLLS



YiELdONcOST 8.4%



proJect upDate

Thisprojectisontargetforcompletioninlate2011.

important noticemirvacGroupcomprisesmirvacLimitedABN92003280699andmirvacPropertyTrustArSN086780645.ThisPropertycompendiumhasbeenpreparedbymirvacLimitedandmirvacFundsLimited(ABN70002561640,AFSLnumber233121)astheresponsibleentityofmirvacPropertyTrust(collectively“mirvac”or“mirvacGroup”).mirvacLimitedistheissuerofmirvacLimitedordinarysharesandmirvacFundsLimitedistheissuerofmirvacPropertyTrustordinaryunits,whicharestapledtogetherasmirvacGroupstapledsecurities.AlldollarvaluesareinAustraliandollars(A$).

TheinformationcontainedinthisPropertycompendiumhasbeenobtainedfromorbasedonsourcesbelievedbymirvacGrouptobereliable.Tothemaximumextentpermittedbylaw,mirvac,itsaffiliates,officers,employees,agentsandadvisorsdonotmakeanywarranty,expressorimplied,astothecurrency,accuracy,reliabilityorcompletenessoftheinformationinthisPropertycompendiumorthattheinformationissuitableforyourintendeduseanddisclaimallresponsibilityandliabilityfortheinformation(including,withoutlimitation,liabilityfornegligence).

ThisPropertycompendiumisnotfinancialadviceorarecommendationtoacquiremirvacGroupstapledsecuritiesandhasbeenpreparedwithouttakingintoaccounttheobjectives,financialsituationorneedsofindividuals.

BeforemakinganinvestmentdecisionprospectiveinvestorsshouldconsidertheappropriatenessoftheinformationinthisPropertycompendiumandmirvacGroup’sotherperiodicandcontinuousdisclosureannouncementslodgedwiththeAustralianSecuritiesExchangehavingregardtotheirownobjectives,financialsituationandneedsandseeksuchlegal,financialand/ortaxationadviceastheydeemnecessaryorappropriatetotheirjurisdiction.

TotheextentthatanygeneralfinancialproductadviceinrespectoftheacquisitionofmirvacPropertyTrustunitsasacomponentofmirvacGroupstapledsecuritiesisprovidedinthisPropertycompendium,itisprovidedbymirvacFundsLimited.mirvacFundsLimitedanditsrelatedbodiescorporate,andtheirassociates,willnotreceiveanyremunerationorbenefitsinconnectionwiththatadvice.directorsandemployeesofmirvacFundsLimiteddonotreceivespecificpaymentsofcommissionsfortheauthorisedservicesprovidedunderitsAustralianFinancialServicesLicence.Theydoreceivesalariesandmayalsobeentitledtoreceivebonuses,dependinguponperformance.mirvacFundsLimitedisawhollyownedsubsidiaryofmirvacLimited.

ThisPropertycompendiumcontainscertain“forwardlooking”statements.Thewords“anticipated”,“expected”,“projections”,“forecast”,“estimates”,“could”,“may”,“target”,“consider”and“will”andothersimilarexpressionsareintendedtoidentifyforwardlookingstatements.Forwardlookingstatements,opinions,valuationsandestimatesprovidedinthisPropertycompendiumarebasedonassumptionsandcontingencieswhicharesubjecttochangewithoutnotice,asarestatementsaboutmarketandindustrytrends,whicharebasedoninterpretationsofcurrentmarketconditions.Forward-lookingstatementsincludingprojections,indicationsorguidanceonfutureearningsorfinancialpositionandestimatesareprovidedasageneralguideonlyandshouldnotberelieduponasanindicationorguaranteeoffutureperformance.Therecanbenoassurancethatactualoutcomeswillnotdiffermateriallyfromthesestatements.Tothefullextentpermittedbylaw,mirvacGroupanditsdirectors,officers,employees,advisers,agentsandintermediariesdisclaimanyobligationorundertakingtoreleaseanyupdatesorrevisionstotheinformationtoreflectanychangeinexpectationsorassumptions.

AninvestmentinmirvacGroupstapledsecuritiesissubjecttoinvestmentandotherknownandunknownrisks,someofwhicharebeyondthecontrolofmirvacGroup,includingpossibledelaysinrepaymentandlossofincomeandprincipalinvested.mirvacdoesnotguaranteeanyparticularrateofreturnortheperformanceofmirvacGroupnordotheyguaranteetherepaymentofcapitalfrommirvacGrouporanyparticulartaxtreatment.

PastperformanceinformationgiveninthisPropertycompendiumisgivenforillustrativepurposesonlyandshouldnotberelieduponas(andisnot)anindicationoffutureperformance.

ThisPropertycompendiumisnotanofferoraninvitationtoacquiremirvacGroupstapledsecuritiesoranyotherfinancialproductsandisnotaprospectus,productdisclosurestatementorotherofferingdocumentunderAustralianlaworanyotherlaw.itisforinformationpurposesonly.

HeaD oFFice /Level26,60margaretStreetSydneyNSW2000syDney /0290808000melBourne /0396459400BrisBane /0738595888pertH /0894249900www.mirvac.com

property compendium...07 property location nla % of commercial portfolio book value 1 gross office...

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