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Stockland Property Portfolio JUN2011

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Stockland Property Portfolio JUN2011 Powered By Docstoc
					Retail Portfolio as at 30 June 2011


Property                              State


Stockland Rockhampton                 QLD
Stockland Wetherill Park              NSW
Stockland Merrylands                  NSW
Stockland Shellharbour                NSW
Stockland Green Hills                 NSW
Stockland Glendale                    NSW
Stockland Cairns                      QLD
Stockland Townsville                  QLD
Stockland Point Cook                  VIC
Stockland Bay Village                 NSW
Stockland Burleigh Heads              QLD
Stockland The Pines                   VIC
Stockland Forster*                    NSW
Stockland Jesmond                     NSW
Stockland Balgowlah                   NSW
Stockland Wendouree                   VIC
Stockland Baulkham Hills              NSW
Stockland Caloundra/Stockland South QLD
Stockland Gladstone                   QLD
Stockland Nowra                       NSW
Stockland Cleveland                   QLD
Stockland Bull Creek                  WA
Stockland Traralgon                   VIC
Stockland Bathurst                    NSW
Stockland Hervey Bay                  QLD
Stockland Corrimal                    NSW
Stockland Piccadilly                  NSW
Stockland Wallsend                    NSW
Stockland Tooronga                    VIC
Stockland Riverton^                   WA
Stockland Baldivis                    WA
Shellharbour Retail Park              NSW
Glasshouse - 135 King Street, Sydney^ NSW
Stockland Cammeray                    NSW
Stockland Lilydale^^                  VIC
Stockland North Shore                 QLD
Jimboomba Village Shopping Centre^ QLD
Stockland Burleigh Central            QLD
Adelaide St Plaza, Fremantle          WA
Woolworths Toowong                    QLD
Stockland Vincentia Shopping Centre NSW
Stockland Merrylands Court            NSW




* Excludes adjacent land holdings
^ Book value represents Stockland’s 50% ownership
^^ Asset sold 21/7/2011
n.b. Stockland Glenrose and Eagle Street Pier – Capital works in progress and sundry properties
Project description                                                             Location


Stockland Rockhampton is a key regional city 700 kilometres north of              Rockhampton
                                                                                  Western Sydney
Stockland Wetherill Park is a highly productive sub-regional shopping centre located in the south-west of Sydney. The 12 hect
                                                                                  Merrylands
Located 25 kilometres west of the Sydney CBD this centre has serviced the local community for 40 years. Currently undergoin
                                                                                  Shellharbour
Stockland Shellharbour is a sub-regional centre located on the south coast of NSW. With a brand new Coles, Kmart, Target, H
                                                                                  East Maitland
This strong performing centre houses a Woolworths and Coles supermarket, Big W department store, food court and 90 spec
                                                                                  Newcastle
Stockland Glendale was the first of the true super centre concepts combining retail, leisure and entertainment on a 19.6 hect
                                                                                  Cairns
Located on the main southern arterial road accessing Cairns, the centre occupies an 11.13 hectare site and has two discount d
                                                                                  Townsville
Located in the centre of Townsville, the centre is host to over 100 specialty stores plus major retailers such as Big W, Woolwo
                                                                                  Point Cook
Stockland Point Cook is a newly developed two level, sub regional shopping centre located in the Wydnham region, 23 kilome
                                                                                  Bateau Bay
Stockland Bay Village is located on the NSW central coast and has a convenience based offering. Tenants include three superm
                                                                                   centre Heads
Stockland Burleigh Heads is a fully enclosed, single level, sub-regional shoppingBurleighlocated on the Gold Coast, 80 kilometr
                                                                                  Doncaster East
The Pines is well located in one of Melbourne’s strong socio-economic trade areas. The retail mix includes Coles, ALDI, Woolw
                                                                                  Forster
Stockland Forster is located on the mid north coast of NSW and consists of a Coles, ALDI, Kmart, Target Country and a recentl
                                                                                  Newcastle
Located in the suburb of Jesmond, Newcastle, the centre is constructed on 4.65 hectares and anchored by a recently upgrade
                                                                                  Balgowlah
Located in the northern suburbs of Sydney, the centre occupies 13,000sqm of ‘The Village’, a mixed-use development with 24
                                                                                  Wendouree
Located in the historic city of Ballarat, 110 kilometres west of Melbourne, this sub-regional shopping centre accommodates 7
                                                                                  Baulkham close
Baulkham Hills is located in the Hills district, 30 kilometres northwest of the Sydney CBD, Hills to the M2 Motorway. Anchor
                                                                                  Caloundra
Caloundra is located within the southern part of the Sunshine Coast in a population growth corridor. The centre includes a Co
                                                                                  Gladstone
Situated on the Dawson Highway, Stockland Gladstone is the only major shopping centre in Gladstone, a thriving regional loc
                                                                                  Nowra
Stockland Nowra is a sub-regional centre conveniently located on the Princes Highway, a major arterial road, 160 kilometres
                                                                                   successful
Located 25 kilometres south-east of the Brisbane CBD, Stockland Cleveland is aCleveland example of an integrated town cen
                                                                                  south of the
Stockland Bull Creek is a single level sub-regional centre located 15 kilometres Bull Creek Perth CBD. The centre is anchored
                                                                                  Traralgon
Stockland Traralgon is located in the region of the Latrobe Valley in Victoria, 160 kilometres east of Melbourne. The retail offe
                                                                                  Bathurst
Stockland Bathurst includes the only two discount department stores in the region, Big W and Target, a Woolworths superma
                                                                                  Hervey Bay
Stockland Hervey Bay is a single level sub-regional shopping centre located on the Fraser Coast, 300 kilometres north of Brisb
                                                                                  Corrimal
Located seven kilometres north of Wollongong, Stockland Corrimal is a neighbourhood centre anchored by a Dan Murphy's a
                                                                                  CBD retail precinct, 150 metres from Pitt Stree
Stockland Piccadilly is a two level shopping centre located in Sydney’s premier Sydney CBD
                                                                                  The centre
Stockland Wallsend is located 10 kilometres north-west of the Newcastle CBD. Wallsend has a GLA of over 11,000sqm and p
                                                                                  Tooronga
Stockland Tooronga is 12 kilometres south east of the Melbourne CBD. The centre provides a Coles concept supermarket, 1st
                                                                                  Riverton
Stockland Riverton occupies a 6.3 hectare site on a major arterial road in Riverton, 11 kilometres south east of Perth's CBD. A
                                                                                  Baldivis
Stockland Baldivis is located eight kilometres from Rockingham City in one of Western Australia’s fastest growing communitie
                                                                                   on New Lake
Shellharbour Retail Park is located in close proximity to Stockland ShellharbourShellharbour Entrance Road. This successful re
N/A                                                                               Sydney CBD, NSW
                                                                                  Cammeray
Stockland Cammeray is a 4,700sqm centre, located in the northern suburbs of Sydney, seven kilometres from the CBD. The ce
N/A                                                                               Lilydale
                                                                                  residential community in the suburb of Burdell
A convenient neighbourhood centre located within the Stockland North Shore North Shore
                                                                                   and was acquired in 2007. Stockland own a 50
Jimboomba Village Shopping Centre is located 50 kilometres south of BrisbaneJimboomba
                                                                                  Burleigh Heads
Stockland Burleigh Central is a strategic land holding for Stockland Burleigh Heads. The seven large format stores at Stockland
                                                                                  Fremantle
Adelaide St Plaza is located in Fremantle, south of Perth. The centre was recently developed and is anchored by a Woolworth
                                                                                  Toowong
Woolworths Toowong is a freestanding supermarket located immediately opposite Toowong Village Shopping Centre. This pr
                                                                                  Vincentia
Stockland Vincentia Shopping Centre is a single level, open air neighbourhood shopping centre of 4,161sqm GLA. The propert
                                                                                          Merrylands
            Located within the Merrylands CBD, Merrylands Court is a strategic land holding anchored by Harris Farm and includes retaile




50% ownership

reet Pier – Capital works in progress and sundry properties
                                                       Last
                                      Cost including
Acquisition date    Ownership/title                    Independent   Valuation/($/m2)
                                      additions
                                                       valuation:

Jun 2003            100%/Freehold     $254.60          Dec 2010      $340.0 million ($5,903/m2)
Aug 1983            100%/Freehold     $112.40          Dec 2010      $328.6 million ($6,000/m2)
Sep 1982            100%/Freehold     $269.90          Dec 2006      $151.0 million ($4,456/m2)
Jun 2003            100%/Freehold     $158.90          Dec 2009      $265.0 million ($6,841/m2)
Dec 2000            100%/Freehold     $122.50          Jun 2011      $259.0 million ($7,803/m2)
Mar 1996            100%/Freehold     $86.90           Jun 2011      $247.0 million ($4,490/m2)
Jun 1992            100%/Freehold     $166.50          Dec 2010      $204.0 million ($4,119/m2)
Jun 1987            100%/Freehold     $103.30          Jun 2010      $200.0 million ($7,446/m2)
Jun 2011            100% Freehold     $186.30          N/A           N/A
Oct 2000            100%/Freehold     $113.00          Dec 2010      $162.0 million ($5,542/m2)
Aug 2003            100%/Freehold     $116.60          Jun 2010      $137.0 million ($5,109/m2)
Nov 2004            100%/Freehold     $128.10          Jun 2010      $136.5 million ($5,575/m2)
Jul 2003/May 2010   100%/Freehold     $113.40          Dec 2010      $129.0 million ($3,358/m2)
Feb 1984            100%/Freehold     $43.80           Dec 2010      $118.5 million ($5,640/m2)
Jun 2009/Nov 2009   100%/Freehold     $135.40          Jun 2010      $113.0 million ($8,790/m2)
Jun 2003            100%/Freehold     $65.50           Jun 2011      $110.0 million ($4,346/m2)
Sep 1982            100%/Freehold     $85.30           Dec 2010      $106.0 million ($5,979/m2)
Jun 2003/Dec 2009   100%/Freehold     $70.10           Dec 2010      $98.8 million ($4,823/m2*)
Oct 2000            100%/Freehold     $62.80           Jun 2011      $99.0 million ($3,623/m2)
Jun 2003            100%/Freehold     $64.00           Jun 2011      $85.0 million ($5,239/m2)
Oct 2002            100%/Freehold     $71.30           Jun 2011      $80.0 million ($5,064/m2)
Jun 2003            100%/Freehold     $55.60           Dec 2009      $76.0 million ($4,546/m2)
Jun 2003            100%/Freehold     $48.20           Dec 2010      $76.5 million ($3,936/m2)
Jun 2003            100%/Freehold     $56.30           Dec 2009      $73.8 million ($3,827/m2)
Apr 2011            100% Freehold     $70.20           N/A           N/A
Jun 2003            100%/Freehold     $40.20           Jun 2011      $58.0 million ($5,976/m2)
Oct 2000            100%/Leasehold    $35.90           Dec 2010      $53.0 million ($10,070/m2)
Sep 2007            100%/Freehold     $62.70           Dec 2010      $51.0 million ($4,394/m2)
Aug 2010            100%/Freehold     $44.90           Dec 2010      $47.8 million ($5,234/m2)
Aug 2006            50%/Freehold      $52.90           Jun 2010      $47.0 million ($4,744/m2*)
Aug 2006            100%/Freehold     $31.20           Jun 2011      $45.4 million ($6,584/m2)
Jun 2003            100%/Freehold     $35.10           Dec 2009      $43.5 million ($1,964/m2)
N/A                 N/A               $24.50           Dec 2010      $41.0 million ($10,443/m2)
Dec 2008            100%/Stratum      $55.10           Dec 2010      $29.8 million ($6,318/m2)
N/A                 N/A               N/A              N/A           N/A
Mar 2011            100%/Freehold     $17.60           Jun 2011      $19.0 million ($3,289/m2)
Jan 2007            50%/Freehold      $25.20           Jun 2011      $15.9 million ($3,164/m2*)
Aug 2003            100%/Freehold     $15.20           Jun 2010      $15.0 million ($1,895/m2)
Dec 2009            100%/Leasehold    $18.00           Jun 2010      $13.3 million ($2,919/m2)
Oct 2000            100%/Freehold     $4.90            Dec 2010      $13.2 million ($5,802/m2)
Jan 2007            100%/Freehold     $15.20           Jun 2011      $12.3 million ($2,956/m2)
Dec 2002   100%/Freehold   $17.60   Dec 2009   $9.0 million ($1,485/m2)
Book Value   AIFRS NOI   % of Retail   Capitalisation   Discount   Gross lettable Car parking
($m)         ($m)        portfolio     rate             rate       area           spaces


$343.00      $20.98      7.5%          6.75%            9.25%      57,596         3,015
$330.00      $23.51      7.2%          7.00%            9.00%      54,768         1,988
$324.90      $3.31       7.1%          6.50%            8.50%      33,887         2,000
$272.20      $17.82      5.9%          7.00%            9.25%      38,735         2,060
$259.00      $18.05      5.6%          7.00%            9.25%      33,191         1,604
$247.00      $16.77      5.4%          6.75%            9.25%      55,014         2,338
$205.20      $13.46      4.5%          7.00%            9.50%      49,529         2,382
$201.50      $13.82      4.4%          7.75%            9.50%      26,860         1,200
$186.30      N/A         4.0%          N/A              N/A        42,642         1,534
$163.30      $12.60      3.5%          8.00%            9.75%      29,232         1,269
$138.60      $10.79      3.0%          7.75%            9.50%      26,814         1,455
$137.90      $10.85      3.0%          7.50%            9.50%      24,485         1,400
$129.00      $8.69       2.8%          7.50%            9.50%      38,415         1,435
$120.20      $9.25       2.6%          7.75%            9.50%      21,012         948
$112.50      $6.44       2.4%          7.00%            8.75%      12,856         690
$110.00      $7.68       2.4%          7.50%            9.75%      25,311         1,212
$106.60      $7.26       2.3%          7.50%            9.50%      17,730         842
$100.10      $7.91       2.2%          7.50%            9.41%      20,486         1,141
$99.00       $7.57       2.1%          7.50%            9.50%      27,326         1,418
$85.00       $6.45       1.8%          7.75%            9.50%      16,226         819
$80.00       $6.92       1.7%          7.50%            9.50%      15,798         780
$79.10       $6.57       1.7%          7.75%            9.50%      16,717         920
$76.80       $5.98       1.7%          7.75%            9.50%      19,435         756
$75.40       $5.73       1.6%          8.00%            9.50%      19,283         525
$70.40       $0.78       1.5%          N/A              N/A        15,569         992
$58.00       $4.74       1.3%          8.00%            9.50%      9,706          524
$53.60       $3.09       1.2%          7.25%            9.50%      5,263          N/A
$51.40       $3.95       1.1%          8.25%            9.75%      11,607         585
$48.70       $1.56       1.1%          7.25%            9.50%      9,132          488
$47.50       $4.14       1.0%          7.50%            9.50%      19,813         1,200
$45.40       $2.39       1.0%          7.50%            9.75%      6,895          382
$44.00       $3.80       1.0%          8.25%            9.75%      22,145         741
$41.00       $2.97       0.9%          7.00%            9.00%      3,926          N/A
$30.40       $1.72       0.7%          7.50%            9.50%      4,717          80
$29.50       $2.40       0.7%          N/A              N/A        8,751          N/A
$19.00       $0.34       0.4%          7.50%            9.25%      5,777          250
$15.90       $1.41       0.3%          8.75%            10.00%     10,049         470
$15.20       $1.30       0.3%          8.75%            10.00%     7,914          242
$13.60       $1.00       0.3%          8.75%            9.75%      4,557          122
$13.30       $0.27       0.3%          N/A              N/A        2,275          1,276
$12.30       $1.02       0.3%          9.00%            9.75%      4,161          198
$8.90   $0.41   0.2%   9.00%   10.00%   6,062   131
Annual sales   Specialty       Speciality sales   Weighted average
                                                                   Major tenant 1     Gla (m2)    Lease Expiry
June 2010      occupancy cost: per sqm            lease expiry:


$339.40        N/A              N/A                            7.4   Big W            8,211       Nov 2028
$266.50        16.30%           $11,446                        8.8   Big W            8,097       Jun 2025
$152.60        N/A              N/A                              8   Kmart            7,159       Nov 2017
$229.10        14.00%           $9,489                           3   Kmart            7,460       Nov 2017
$322.10        13.00%           $13,232                        6.8   Big W            8,024       Sep 2022
$325.70        13.00%           $8,045                         5.2   Target           8,522       Jul 2016
$274.40        11.50%           $9,646                         6.8   Big W            8,259       Jun 2024
$156.70        N/A              N/A                            2.7   Big W            6,987       Apr 2015
N/A            N/A              N/A                            8.2   Target           6,500       Aug 2028
$202.60        13.80%           $8,217                         6.8   Kmart            7,587       Aug 2019
$175.10        14.50%           $7,646                         7.5   Big W            6,673       Mar 2025
$166.60        17.70%           $7,328                         6.1   Target           6,829       Jul 2012
$209.00        12.10%           $7,551                         3.6   Kmart            5,838       Jan 2015
$153.60        13.40%           $9,198                         9.3   Big W            7,944       Jun 2029
$132.20        16.10%           $6,883                        10.3   Coles            4,464       Jun 2029
$161.40        13.80%           $7,540                         4.2   Kmart            7,831       May 2013
$132.20        16.50%           $6,388                         7.9   Woolworths       3,855       Jul 2027
$168.10        11.20%           $10,510                        6.6   Kmart            7,075       Mar 2012
$175.90        11.40%           $11,201                        2.7   Big W            6,828       Aug 2016
$139.70        11.40%           $10,812                        4.5   Kmart            7,190       Nov 2013
$131.50        12.80%           $7,792                         3.8   Woolworths       4,031       Aug 2014
$111.20        14.50%           $8,042                         4.9   Target           8,131       Jul 2018
$119.20        12.60%           $7,639                         1.8   Kmart            8,107       Nov 2012
$116.30        11.90%           $9,053                         4.8   Big W            6,150       Mar 2015
$84.30         9.80%            $10,106                        3.4   Target           5,592       Jul 2015
$100.90        13.80%           $7,950                        11.1   Woolworths       5,974       Jan 2027
$24.40         20.40%           $8,603                         4.3   N/A
$78.60         10.50%           $8,890                         3.1   Coles            4,185       Oct 2012
N/A            N/A              N/A                            9.5   Coles            4,139       Aug 2025
$130.20        N/A              N/A                            4.7   Big W            7,294       Sep 2016
$66.30         10.40%           $8,225                         9.4   Coles            3,205       May 2027
$126.90        N/A              N/A                            3.6   Bunnings         7,762       Feb 2013
$14.40         N/A              N/A                           N/A               N/A
$24.60         14.60%           $7,383                         5.6   Harris Farm              746 Oct 2023
$64.20         9.30%            $7,366                        N/A               N/A
N/A            N/A              N/A                            8.1   Woolworths       3,609       Mar 2021
$42.10         9.10%            $6,667                         5.2   Woolworths       3,716       Dec 2017
$4.00          N/A              N/A                            3.9   Spotlight        2,700       Jan 2013
$11.30         N/A              N/A                           11.6   Woolworths       2,529       Jun 2028
N/A            N/A              N/A                            0.1   Woolworths       2,275       Holding over
$46.30         N/A              N/A                            2.4   BI-LO            1,973       Mar 2014
N/A   N/A   N/A   1.5 Harris Farm   1,214   Dec 2014
                                                                     Lease
Major tenant 2   Gla (m2)   Lease Expiry Major tenant 3   Gla (m2)              Major tenant 4 Gla (m2)
                                                                     Expiry


Kmart            5,999      Aug 2024     Woolworths       4,223      Aug 2015   Coles           3,642
Target           7,020      Jul 2018     Hoyts            4,613      Nov 2023   Woolworths      4,346
Target           6,088      Nov 2028     Coles            3,634      Oct 2019   Franklins       1,802
Target           7,170      Jul 2015     Coles            3,847      Nov 2012   Harris Scarfe   2,753
Woolworths       4,871      Sep 2022     Coles            3,702      Sep 2017   Dan Murphy      1,203
Kmart            6,425      Nov 2020     Coles            5,109      Mar 2016   Woolworths      4,952
Target           7,079      Jul 2015     Woolworths       4,254      Jun 2016   Coles           3,698
Woolworths       3,887      Feb 2015
Coles            4,000      Aug 2028     Harris Scarfe    2,587      Nov 2019   ALDI            1,300
Coles            5,135      Aug 2019     Woolworths       3,600      Apr 2025   ALDI            1,226
Woolworths       4,356      Apr 2026     IGA              2,454      Dec 2013
Woolworths       3,830      Jul 2024     Coles            3,197      Oct 2024   ALDI            1,374
Coles            4,083      Jan 2015     Woolworths       3,800      Nov 2020   Target          1,500
Woolworths       3,053      Nov 2019

Safeway          3,463      Nov 2020     Coles            3,252      Aug 2022
Coles            3,034      Jun 2027     ALDI             1,429      Dec 2011 Harris Farm       1,049
Woolworths       4,288      Dec 2029     Coles            3,957      Jul 2020
Kmart            6,687      Sep 2011     Woolworths       3,264      Aug 2016 Coles             2,995
Woolworths       4,230      Nov 2020
Coles            3,536      Oct 2017
Woolworths       3,426      Nov 2013
Coles            4,737      Nov 2012
Target           5,973      Nov 2019     Woolworths       2,940      Nov 2014
Supa IGA         2,349      Mar 2020


ALDI             1,292      Jun 2020

Woolworths       3,963      Sep 2016

Woolworths       4,370      Nov 2018     Dan Murphy's 1,500          Sep 2015




              2,173
Sam's Warehouse                  Apr-17 Rip Curl          1,304      Nov 2013
                                                Lease expiry profile
Lease                                  Lease               FY11 Lease   FY12 Lease FY13 Lease   FY14 Lease
           Major tenant 5   Gla (m2)            Vacant
Expiry                                 Expiry              Expiry       Expiry     Expiry       Expiry


Aug 2024   Birch and        3,392     Dec 2013 2%          4%           8%         10%          15%
Jun 2021   Franklins        3,273     Nov 2016 0%          9%           7%         11%          3%
Jan 2014                                       2%          4%           0%         3%           2%
Apr 2012                                       2%          19%          24%        10%          4%
Sep 2022                                       0%          12%          12%        7%           4%
Mar 2016   Greater Union 5,324        Dec 2016 0%          9%           4%         4%           2%
Mar 2029                    Coyle     Nov
           Birch Carrol and 3,184 Cinemas 2021 1%          5%           6%         6%           7%
                                               13%         19%          12%        2%           43%
Aug 2018                                       2%          2%           2%         12%          8%
Sep 2015                                       1%          9%           4%         3%           7%
                                               2%          8%           6%         19%          6%
Oct 2019                                       1%          4%           34%        3%           6%
Nov 2016   Bunnings         8,008     Mar 2014 3%          10%          9%         25%          28%
                                               1%          12%          6%         4%           5%
                                               1%          0%           0%         9%           11%
                                               0%          11%          44%        7%           6%
Oct 2017                                       1%          16%          10%        8%           11%
                                               0%          39%          5%         2%           4%
Sep 2011   Target           1,481     Sep 2011 0%          45%          3%         3%           5%
                                               0%          5%           1%         49%          9%
                                               1%          9%           6%         11%          35%
                                               0%          4%           8%         24%          2%
                                               0%          10%          73%        2%           2%
                                               0%          4%           5%         2%           53%
                                               2%          32%          3%         4%           5%
                                               0%          1%           11%        6%           6%
                                               0%          6%           15%        14%          8%
                                               2%          7%           43%        16%          10%
                                               17%         0%           0%         0%           0%
                                               1%          0%           2%         2%           15%
                                               0%          1%           9%         23%          4%
                                               0%          3%           37%        7%           12%

                                                0%         0%           34%        2%           2%

                                                1%         0%           0%         0%           0%
                                                4%         6%           14%        7%           3%
                                                0%         0%           34%        16%          14%
                                                0%         5%           1%         12%          8%
                                                0%         100%         0%         0%           0%
                                                7%         10%          16%        47%          11%
37%   4%   16%   23%   20%
FY15+ Lease
            Footnotes
Expiry


61%
70%
89%
41%
65%
81%
75%
11%
74%
76%
59%
52%
25%
72%
79%
32%
54%
50%         *Includes Caloundra Woolworths
44%
36%
38%
62%
13%
36%
54%
76%
57%
22%
83%
80%         *100% interest
63%
41%

62%

99%
66%         *100% interest
36%
74%
0%
9%
0%
Office Portfolio as at 30 June 2011


Property                                                    State



Piccadilly Complex, 133-145 Castlereagh Street, Sydney^      NSW
Waterfront Place, Eagle Street, Brisbane**                   QLD
Riverside Plaza, 452 Flinders Street, Melbourne              VIC
Colonial Centre, 52 Martin Place, Sydney**                   NSW
9 Castlereagh Street, Sydney                                 NSW
Triniti Business Campus, North Ryde                          NSW
Exchange Plaza, 2 The Esplanade, Perth**                     WA
Durack Centre, 263 Adelaide Terrace and 2 Victoria Ave, PerthWA
BankWest Tower, 108 St Georges Terrace, Perth**^^^           WA
Optus Centre, Macquarie Park^^                               NSW
135 King Street, Sydney**^                                   NSW
601 Pacific Highway, St Leonards                             NSW
60-66 Waterloo Road, Macquarie Park                          NSW
78 Waterloo Road, Macquarie Park                             NSW
45 St Georges Terrace, Perth                                 WA
175-181 Castlereagh Street, Sydney                           NSW
77 Pacific Highway, North Sydney                             NSW
7 Macquarie Place, Sydney**                                  NSW
40 Cameron Avenue, Belconnen                                 ACT
Macquarie Technology Centre, Macquarie Park                  NSW
Garden Square, Mt Gravatt                                    QLD
16 Giffnock Avenue, Macquarie Park                           NSW
80-88 Jephson Street, 23 and 27-29 High Street, Toowong      QLD
150 Charlotte Street, Brisbane^^^                            QLD
Myuna Complex, Canberra^^^                                   ACT
255-267 St Georges Terrace, Perth                            WA
110 Walker Street, North Sydney                              NSW
118-120 Pacific Highway, St Leonards                         NSW




# Represents the full carrying value of the investment property.
* Represents passing rent for tower only. Net Court passing rent is $354/m2
** Book value represents Stockland’s 50% ownership interest.
^ Book value and NLA, office component only. Retail component included in Retail Portfolio.
^^ Book value represents Stockland’s 31% ownership interest.
^^^ Assets held for sale
            Description                                                Location                 Acquisition date



                                                                        Sydney CBD               and Piccadilly Court, a 14 storey B-grade of
            The Piccadilly Complex comprises the Tower, an A-grade 32 storey office building, Oct 2000
                                                                        Brisbane CBD              prime commercial location providing pano
            Waterfront Place is located on Eagle Street, overlooking the Brisbane River from a Feb 2004
                                                                        Melbourne CBD            Oct 2000
            Riverside Plaza is an A-grade asset completed in 1994. The building comprises 16 office levels with large, efficient floor plates
                                                                        Sydney CBD               Jun 2003
            The Colonial Centre is an A-grade landmark building. Completed in 1985, the building comprises 33 office floors including Cha
                                                                        Sydney Harry             Castlereagh
            Designed and constructed in 1989 by Australia’s leading architect,CBD Seidler, 9 Mar 2008 Street is a landmark Sydney bu
                                                                        North-West Sydney        Jun 2001
            Triniti Business Campus is located within Riverside Corporate Park close to the new North Ryde railway station providing swe
                                                                         located in              Jun of the
            Exchange Plaza is a landmark premium grade office towerPerth CBD the financial core2003 Perth CBD. Completed in 1992, t
                                                                        Perth CBD                Oct 2006
            The Durack Centre comprises a 13 storey building with large 1,300sqm floor plates, two basement levels and on-grade parkin
                                                                        Perth CBD                Apr office
            BankWest Tower is a landmark, A-grade 53 level office building comprising 45 levels of2007 accommodation, and basement
                                                                        North-West Sydney        Jul 2000
            The Optus Centre is located approximately 12 kilometres north-west of the Sydney CBD in Macquarie Park. The integrated ca
                                                                        Sydney CBD
            The property was completed in 1990 and comprises a prominent 24 level, A-gradeJun 2003office tower as well as the Glasshouse, a th
                                                                        St Leonards              Jun 2003
            Completed in 1988, 601 Pacific Highway is a high profile A-grade office tower located 200 metres east of St Leonards railway
                                                                        North-West Sydney        Oct of Sydney CBD. 60 Waterloo Road com
            60-66 Waterloo Road is located in Sydney’s Macquarie Park, 12 kilometres north-west2000
                                                                        North-West Sydney        Aug 2007
            Completed in June 2009, 78 Waterloo Road is an innovatively designed building featuring a central atrium servicing two effici
                                                                        Perth CBD                Mar 2007
            45 St Georges Terrace is located between William and Barrack Streets within the historic heart and traditional financial precin
                                                                        Sydney CBD               Sep 1982
            The 17 level building has 13 levels of commercial office accommodation and four levels of basement parking. The property is
                                                                         to North Sydney railwayJan 2000 offers expansive harbour and c
            The property has a high profile location in close proximity North Sydney CBD          station and
                                                                        Sydney CBD                from Circular Quay. The building has 12 of
            7 Macquarie Place is an A-grade boutique commercial building located 200 metresJun 2003
                                                                         the south-eastern precinct of the Belconnen Town Centre. Constru
            The Chandler Building occupies a prominent corner site inBelconnen                   Feb 2007/Nov 2009
                                                                        North-West Sydney        Oct 2000
            Macquarie Technology Centre is located approximately 12 kilometres north-west of Sydney’s CBD in Macquarie Park. Erected
                                                                        Upper Mount Gravatt Feb 2007
            Garden Square occupies a high profile location in the regional business district of Upper Mt Gravatt, approximately 11 kilome
                                                                        North-West Sydney        Jul and
            16 Giffnock Avenue is located in Macquarie Park, 12 kilometres north-west of Sydney2000is positioned adjacent to the Optu
                                                                        Toowong                  Jun 2006/Jul 2006/Jan Jephson Street is a
            80-88 Jephson, 23 and 27-29 High Street are located in the heart of Toowong’s commercial district. 80-882008
                                                                         the western             Jan 2006
            Energex House is located in the heart of Brisbane’s CBD atBrisbane CBDperimeter of the ‘Golden Triangle’. The property comp
                                                                        the heart of the         Oct 2000/Aug 2003
            The Myuna Complex consists of five properties located in Canberra CBD Canberra CBD with frontage to Northbourne Avenu
                                                                        Perth NLA                Jul 2007
            267 St Georges Terrace is a four level office building with a totalCBD of 3,484sqm and secure basement car parking for 39 car
                                                                        North CBD. The building Oct 2000 six upper levels of office accomm
            The seven level property is located in the heart of North Sydney Sydney CBD           comprises
                                                                        St Leonards              Oct from
            The Clemenger Building has a high profile location on the Pacific Highway, a short walk2000 St Leonards railway station. The




ent is $354/m2

ent included in Retail Portfolio.
                          Cost including   Last Independent
Ownership/title                                               Valuation/ ($m)
                          additions        valuation


                           $220.30
100%/Leasehold (Expiry 2091)               Dec 2010         $301.0 million ($7,619/m2)
50%/Freehold/Leasehold     $159.90         Jun 2010         $219.0 million ($7,428/m2*)
100%/Freehold              $138.60         Jun 2011         $182.0 million ($4,746/m2)
50%/Leasehold (Expiry 2110)$177.10         Dec 2009         $167.5 million ($8,574/m2*)
100%/Freehold              $209.70         Dec 2009         $157.0 million ($7,316/m2)
100%/Freehold              $150.90         Dec 2009         $156.2 million ($5,551/m2)
50%/Leasehold (Expiry 2122)$71.50          Jun 2011         $150.0 million ($8,743/m2*)
100%/Leasehold             $107.80         Dec 2010         $140.5 million ($5,589/m2)
50%/Freehold               $151.20         Dec 2009         $127.5 million ($6,489/m2*)
31%*/Freehold              $105.70         Jun 2011         $117.8 million ($4,513/m2**)
50%/Freehold               $82.10          Dec 2010         $96.5 million* ($7,130/m2**)
100%/Freehold              $65.10          Dec 2009         $71.0 million ($5,599/m2)
100%/Freehold              $52.30          Jun 2010         $69.8 million ($3,827/m2)
100%/Freehold              $76.30          Dec 2010         $63.5 million ($4,245/m2)
100%/Freehold              $61.30          Jun 2011         $54.8 million ($5,478/m2)
100%/Freehold              $36.40          Dec 2009         $53.0 million ($4,436/m2)
100%/Freehold              $54.90          Dec 2009         $53.0 million ($5,651/m2)
50%/Freehold               $49.70          Dec 2010         $52.5 million ($7,732/m2*)
                           $61.50
100%/Leasehold (Expiry 2096)               Jun 2011         $41.8 million ($2,696/m2)
100%/Freehold              $40.20          Dec 2009         $35.2 million ($2,332/m2)
100%/Freehold              $63.00          Dec 2010         $37.6 million ($2,961/m2)
100%/Freehold              $29.30          Jun 2011         $33.0 million ($2,801/m2)
100%/Freehold              $37.90          Dec 2009/Jun 2010$25.2 million ($3,204/m2)
100%/Freehold              $49.10          Dec 2009         $30.0 million ($2,665/m2)
                           $55.60
100%/Leasehold (Expiry 2084/2085)          Jun 2010         $47.1 million ($1,933/m2)
100%/Freehold              $28.00          Dec 2010         $23.5 million ($5,720/m2)
100%/Freehold              $24.50          Dec 2009         $23.0 million ($5,075/m2)
100%/Freehold              $21.80          Dec 2010         $20.0 million ($3,898/m2)
Book value#   AIFRS NOI % of Office   Passing rent           Capitalisation   Discount     Net Lettable
                                                   Net/Gross
($m)          ($m)      Portfolio     ($/m2)                 rate:            rate         area


$301.20       $17.78    11.9%         $559         Net        7.25-8.25%      9.00-9.25%   39,507
$218.20       $14.61    8.6%          $691         Gross      7.50%           9.25%        58,964
$182.00       $12.47    7.2%          $358         Net        7.50%           9.50%        38,349
$167.70       $13.41    6.6%          $771         Gross      7.13%           9.00%        39,073
$162.60       $9.22     6.4%          $787         Gross      7.25%           9.25%        21,461
$156.30       $9.61     6.2%          $330         Net        7.75%           9.25%        28,139
$150.00       $10.11    5.9%          $673         Net        7.75%           9.25%        34,312
$142.80       $9.50     5.6%          $580         Net        8.25-8.75%      9.50-9.75%   25,138
$130.00       $10.87    5.1%          N/A          N/A        N/A             N/A          39,300
$117.80       $8.78     4.6%          $275         Net        7.25%           9.00%        84,194
$97.20        $5.76     3.8%          $736         Gross      7.20%           9.00%        27,067
$71.80        $6.24     2.8%          $426         Net        8.50%           9.00%        12,681
$69.00        $5.27     2.7%          $320         Net        8.25-8.50%      9.25%        18,238
$64.30        $3.77     2.5%          $316         Net        7.50%           9.00%        14,959
$54.80        $5.42     2.2%          $522         Net        8.75%           10.25%       10,003
$54.40        $4.41     2.1%          $459         Gross      8.75%           9.50%        11,948
$52.70        $3.91     2.1%          $488         Net        8.25%           9.50%        9,379
$52.60        $3.12     2.1%          $618         Net        7.25%           9.25%        13,940
$41.80        $5.14     1.6%          $375         Gross      9.25%           11.00%       15,506
$38.10        $2.71     1.5%          $236         Net        8.50-9.00%      9.50%        15,096
$38.00        $3.21     1.5%          $353         Gross      9.00%           9.50%        12,698
$33.00        $1.99     1.3%          $259         Net        8.90%           9.50%        11,780
$25.80        $2.05     1.0%          $385         Gross      7.75-9.25%      9.00-9.50%   7,864
$25.00        $3.62     1.0%          N/A          N/A        N/A             N/A          11,255
$24.00        $0.81     1.0%          N/A          N/A        N/A             N/A          24,366
$23.90        $2.25     0.9%          $454         Net        9.31%           10.25%       4,109
$23.40        $1.73     0.9%          $453         Net        8.50%           9.50%        4,532
$20.00        $1.73     0.9%          $463         Gross      9.00%           9.75%        5,130
Car parking      Weighted average     NABERS        Green Star
                                                                  Major Tenant 1          NLA (m2)
spaces           lease expiry         energy rating rating


           232                  3.4       4.5/3.5*                 Stockland
                                                     6 Star** (Stockland Office only)       10,627
           498                  5.2            4.5   N/A           Ernst & Young            7,979
           294                  4.9              4   N/A           Sinclair Knight Merz     10,436
           127                  5.7            4.5   N/A           Colonial First State/CBA 16,911
            74                  2.7              3   N/A           PTW Architects           1,494
           995                  5.2          5.0*    5 Star**      Goodman Fielder          8,521
           236                  3.6            4.5   N/A           Blake Dawson Waldron 5,032
           169                    6          4.0*    6 Star**      Sinclair Knight Merz     10,319
           N/A                 N/A            N/A    N/A
         2,100                  11            N/A    N/A           Optus                    84,194
            55                  4.3              3   N/A           Macquarie Bank           4,757
           155                  2.1            4.5   N/A           IBM                      11,826
           492                  2.6          5.0*    N/A           Laverty Health           8,167
           269                  7.9           N/A    5 Star*       Schneider                9,595
            36                  3.1           N/A    N/A           Worley Parsons           5,946
           168                  2.1            4.5   N/A                                    4,632
                                                                   HMGM QEII (Crown Property)
            39                  2.1              4   N/A           Comops                   1,266
            23                  2.8              4   N/A           Centric Services         2,846
           216                  0.7              2   N/A           ATO                      15,506
           321                  2.9          3.5*    N/A           Sony (Australia)         10,643
           367                  2.2            3.5   N/A                                    8,370
                                                                   Department of Public Works
           266                  3.5              2   N/A           Alstom Power             3,985
           131                    2          2.0*    N/A           BDM Consultants          1,896
           N/A                 N/A            N/A    N/A
           N/A                 N/A            N/A    N/A
            86                  3.1       2.5/3.0*   N/A           ASG Asia Pacific               939
            80                  1.1              4   N/A           Rice Daubney             1,454
           151                  1.8              4   N/A           Clemenger                3,474
Major Tenant 2           NLA (m2)   Major Tenant 3         NLA (m2)      Major Tenant 4        NLA (m2)



Uniting Church           4,906                         4,418
                                  Commonwealth of Aust (HREOC)           GHD Services            4,357
Minter Ellison           7,860    DLA Phillips Fox     4,147             Corrs Chambers Westgarth3,733
                         5,467
Primus Telecommunications Pty Ltd Victoria Police      5,390             SPI Electricity Pty Ltd 4,192
State Government of NSW   12,870 Middletons            3,315
Talent 2                 1,340    Van Eyk Research           922         Coverforce                788
Downer EDI Engineering 7,030      CSR                  6,536                                 4,666
                                                                         Baulderstone Hornibrook
                         4,840
Australian Bureau of Statistics   Paterson Ord Minnett 2,073             ANZ                 1,684
Shell                     5,718                        1
                                  Stockland Development ,269


Brookfield Multiplex      4,028     Russell Investments    3,655         TressCox Maddox       3,653

Schering Plough       5,270         Jansen Cilag Pty Ltd   3,743         Genrx Pty Limited     1,038
Boehringer Ingelheim  4,219
Amnet                 1,096
Department For Women 884            Savill Hotel Group         878 ACP Publishing                        878
SHL                   900           Health Administration      855
                      1,982
Platinum Asset Management           Booz Allen & Hamilton1,273     West LB AG                   1,273


                           910
Softlink International Limited
Bausch & Lomb              2,277    Eli Lilly Australia    1,967                              1,556
                                                                         Chloride Power Electronics
ILAB                       999


                        934
Advanced Well Technologies         Regus                           848
DBM Australia           681        APN Newspapers                  650
                        999
Total Communication Infrastructure Indigo Pacific                  658
Lease expiry profile
           FY11        FY12     FY13     FY14     FY15+
Vacant     Lease       Lease    Lease    Lease    Lease    Footnotes
           Expiry      Expiry   Expiry   Expiry   Expiry


3%         23%         3%       11%      20%      40%      *Piccadilly Tower and Piccadilly Court respectively **Gree
1%         7%          8%       0%       28%      56%      *100% interest
3%         2%          14%      11%      13%      57%
0%         20%         40%      1%       0%       39%      *100% interest
22%        11%         14%      10%      20%      23%
0%         1%          0%       0%       0%       99%      *Building 1 and 2 only **Green Star Office As Built V.2 - w
0%         4%          11%      20%      28%      37%      *100% interest
10%        0%          3%       1%       2%       84%      *263 Adelaide Terrace only **Green Star Office Design V.2

0%         0%          0%       0%       0%       100%     *SDOT2 has 49% ownership**100% interest
10%        6%          12%      13%      22%      37%      *Excludes Retail **100% interest
0%         0%          45%      52%      3%       0%
0%         23%         0%       32%      0%       45%      *66 Waterloo only
0%         0%          0%       2%       3%       95%      *Green Star Office Design V.2 - www.gbca.org.au
5%         8%          3%       60%      2%       22%
0%         15%         58%      1%       9%       17%
4%         12%         25%      36%      23%      0%
7%         4%          29%      14%      24%      22%      *100% interest
0%         100%        0%       0%       0%       0%
12%        0%          5%       10%      73%      0%       *11-17 Khartoum Road only
11%        31%         11%      15%      10%      22%
0%         17%         13%      34%      0%       36%
9%         28%         5%       41%      5%       12%      *80-88 Jephson Street only


0%         34%         0%       0%       0%       66%      *255 and 267 St Georges Terrace respectively
30%        29%         0%       37%      0%       4%
0%         13%         19%      68%      0%       0%
Court respectively **Green Star Office Interiors V.1 - www.gbca.org.au




Star Office As Built V.2 - www.gbca.org.au

 een Star Office Design V.2 (2 Vic only) - www.gbca.org.au

00% interest




www.gbca.org.au




e respectively
Industrial Portfolio as at 30 June 2011


Property                                                     State



Yennora Distribution Centre, Yennora                      NSW
                                                          NSW
Defence National Storage and Distribution Centre, Moorebank**
Brooklyn Estate, Brooklyn                                 VIC
Port Adelaide Distribution Centre, Port Adelaide          SA
Hendra Distribution Centre, Brisbane                      QLD
Toll Business Park, Altona                                VIC
9-11a Ferndell Street, Granville                          NSW
20-50 and 76-82 Fillo Drive and 10 Stubb Street, Somerton VIC
3676 Ipswich Road, Wacol                                  QLD
1090-1124 Centre Road, Oakleigh                           VIC
Altona Distribution Centre, Altona                        VIC
2 Davis Road, Wetherill Park                              NSW
Export Park, 9-13 Viola Place, Brisbane Airport           QLD
M1 Yatala Enterprise Park, Yatala                         QLD
40 Scanlon Drive, Epping                                  VIC




# Represents the full carrying value of the investment property
* Excludes hardstand
** Book value represents Stockland’s 55% ownership interest
Property description                                                Location



                                                                      Western Sydney
Yennora Distribution Centre is one of the largest distribution centres of its kind in the southern hemisphere with almost 300,0
                                                                      South-West Sydney
Moorebank National Defence Storage and Distribution Centre is located approximately 26km south-west of Sydney’s CBD wit
                                                                       located 10 kilometres west of the Melbourne CBD and ad
Brooklyn Estate is a well established 22 hectare distribution centre,West Melbourne
                                                                      Port Adelaide
Port Adelaide Distribution Centre is the largest distribution centre in South Australia. The complex comprises 12 warehouses,
                                                                      North Brisbane
The complex comprises 17 warehouses, including a large, modern distribution centre along with offices, amenities and ancilla
                                                                      West Melbourne
Toll Business Park comprises three modern warehouses/distribution facilities. 11-25 Toll Drive consists of state of the art auto
                                                                      Western a 5.4 hectare site. 14,370sqm is leased by Austra
9-11a Ferndell Street comprises two modern office/warehouse buildings on Sydney
                                                                      Melbourne North
The property comprises three warehouse facilities with adjacent boundaries. 20-50 Fillo Drive comprises a 31,000sqm distrib
                                                                      South Brisbane
The property is located in the industrial suburb of Wacol, approximately 17 kilometres south-west of Brisbane’s CBD, and boa
                                                                       approximately 17km from Melbourne’s CBD. The 8.1 hect
The property is well located in Melbourne’s south-eastern suburbs,Melbourne South
                                                                      Melbourne West
The complex is located in the western industrial precinct of Melbourne adjacent to the Western Ring Road, and comprises eig
                                                                      Western Sydney
This property is a modern office/warehouse building which was completed in 1990. The building has three high-clearance wa
                                                                      in the recently developed industrial estate of ‘Export Park
9-13 Viola Place is a high tech office and warehouse facility located Brisbane Airport
                                                                      South-East Brisbane
The property is located in the industrial suburb of Yatala, approximately 33 kilometres south of the Brisbane CBD. The 16.42 h
                                                                      Melbourne North
40 Scanlon Drive is a new warehouse facility of 9,370sqm. The building offers high quality warehouse and office accommodat
                                      Cost including   Last Independent
Acquisition date   Ownership/title:                                        Valuation/ ($/m2)
                                      additions        valuation


Jul 2000/Nov 2010100%/Freehold        $243.10          Jun 2010            $330.1 million ($1,131/m2)
Dec 2007          55%/Freehold        $167.30          Jun 2011            $133.4 million ($1,015/m2)
Jun 2003          100%/Freehold       $62.70           Jun 2011            $82.8 million ($637/m2)
Jul 2000          100%/Freehold       $46.90           Dec 2010            $82.4 million ($493/m2)
Jul 2000          100%/Freehold       $48.40           Dec 2010            $81.5 million ($973/m2)
Sep 2006          100%/Freehold       $62.30           Dec 2009/Dec 2010   $46.5 million ($881/m2)
Apr 2003/Jun 2003100%/Freehold        $52.90           Dec 2010            $44.9 million ($930/m2)
Sep 2006/Jul 2006 100%/Freehold       $63.90           Dec 2009            $44.2 million ($620/m2)
Aug 2006          100%/Freehold       $58.70           Dec 2009            $29.8 million ($1,517/m2)
Feb 2007          100%/Freehold       $51.60           Jun 2010            $32.5 million ($732/m2)
Jul 2000          100%/Freehold       $22.00           Dec 2009            $19.9 million ($682/m2)
Apr 2003          100%/Freehold       $16.00           Dec 2009            $16.2 million ($964/m2)
Nov 2007                              $16.10
                  100%/Leasehold (Expiry 2047)         Dec 2009            $11.3 million ($1,334/m2)
Nov 2006          100%/Freehold       $26.70           Dec 2009            $10.3 million
Sep 2007          100%/Freehold       $8.80            Jun 2011            $7.7 million ($822/m2)
Book value#   AIFRS NOI   % of Industrial   Passing warehouse               Capitalisation   Discount
                                                                Net/Gross
($m)          ($m)        Portfolio         rent ($/m2)                     rate             rate


$335.70       $25.49      33.5%             $88                 Net         8.00%            9.50%
$133.40       $9.20       14.4%             $74                 Net         7.00%            N/A
$82.80        $6.08       8.3%              $60                 Net         9.00%            9.75%
$82.30        $7.32       8.2%              $50                 Net         9.50%            10.50%
$81.70        $6.78       8.2%              $93                 Net         9.00%            9.75%
$48.40        $3.96       4.8%              $83                 Net         8.75-9.00%       9.50-9.75%
$44.80        $4.54       4.5%              $108                Net         9.50-10.25%      10.00%
$44.70        $3.84       4.5%              $60                 Net         9.25-9.50%       9.75%
$35.20        $1.34       3.5%              $111                Net         8.75%            10.75%
$33.80        $2.66       3.4%              $68                 Net         8.79%            9.50%
$20.80        $1.53       2.1%              $64                 Net         9.50%            10.00%
$16.40        $1.74       1.6%              $110                Net         9.75%            10.25%
$11.40        $1.28       1.1%              $182                Net         9.80%            10.50%
$10.70        N/A         1.1%              N/A                 N/A         N/A              N/A
$7.70         $0.32       0.8%              $75                 Net         8.75%            9.75%
Lettable   Site area               Weighted average
                       Hardstand                         Major Tenant 1      GLA (m2)    Major Tenant 2
area       (Ha)                    lease expiry


291,812        70.03   63,045                      2.6                         77,614
                                                         Australian Wool Handlers        ACI Glass
238,876        82.91   N/A                         1.7   Department of Defence 238,876
129,891        21.94   12,951                      3.6   Ceva (TNT)            35,107    Unitised Building (Aust) Pty Ltd
167,063        31.95   N/A                         2.9   ACI                   108,429   Hi-Fert Pty Limited
83,786         17.43   23,160                      5.2   Kmart Distribution 28,500       Sleep City
52,776         13.35   7,000                       5.5   Toll                  52,776
48,280          8.59   N/A                         2.1                         17,546
                                                         Visy Industrial Plastics        Australian Envelopes
71,326         15.81   N/A                         3.7   Toll                  52,504    Yakka Pty Ltd
19,639          9.39   9,500                      12.1   Western Star Trucks19,639
44,401          8.13   N/A                           4   Amcor                 11,489    Steinhoff Asia Pacific
29,169         15.24   66,051                      2.6   Ceva (TNT)            8,919     Autonexus
16,813          4.33   N/A                           1   Visy PET Pty Ltd      16,813
8,468           N/A    N/A                         6.3   DHL Global Forwarding 4,322     USS
N/A             8.95   N/A                        N/A    N/A                   N/A
9,371           4.15   N/A                         5.5   Mission Australia 5,306         Grace Australia
                                                                         Lease expiry profile
                                                                                    FY11        FY12
GLA (m2)   Major Tenant 3        GLA (m2)   Major Tenant 4    GLA (m2)   Vacant     Lease       Lease
                                                                                    Expiry      Expiry


53,817     Linfox                43,881     P&O               17,785      0%        5%          62%
                                                                          0%        0%          100%
32,829     P&O                14,474                           12,309     0%
                                            Kagan Bros Consolidated Pty Ltd         27%         14%
20,728     P&O                13,355        ABB Grain          10,504     0%        28%         2%
8,271                         7,902
           Fletcher Wood Panels             Lion Nathan        7,724      3%        13%         12%
                                                                          0%        0%          0%
14,370                         5,909
           Frucor Beverage's (Australia)    Consortium Centre 4,612       0%        10%         36%
18,822                                                                    0%        0%          0%
                                                                          0%        0%          0%
7,603      Avery Denison         7,470      SIMS Metal         6,846      0%        9%          15%
6,220      Freight Specialists   4,877                                    0%        17%         13%
                                                                          0%        0%          100%
4,146                                                                     0%        0%          0%
                                                                          N/A       N/A         N/A
4,065                                                                     0%        0%          0%
FY13     FY14     FY15+
Lease    Lease    Lease    Footnotes
Expiry   Expiry   Expiry


3%       3%       27%      *Excludes hardstand & Byron Rd
0%       0%       0%       *100% interest
0%       0%       59%      *Excludes hardstand
0%       13%      57%
6%       0%       66%      *Excludes hardstand
0%       34%      66%      *Excludes hardstand
42%      12%      0%
0%       74%      26%
0%       0%       100%
3%       17%      56%
13%      47%      10%      *Excludes hardstand
0%       0%       0%
0%       0%       100%
N/A      N/A      N/A
57%      0%       43%
Residential Portfolio as at 30 June 2011
State/Stage               Property                  Acquisition date        Location

NSW - released to Market

                         Bridgewater                                2001    South Camden
                         McKeachies Run                       2003, 2011    Maitland
                         Waterside                                  2003    Penrith
                         Sandon Point (including McCauley's Beach) 1998     Bulli/Thirroul
                         Lakewood                                   2002    Greystanes
                         Murrays Beach                              2004    Lake Macquarie
                         Glenmore Ridge                             2004    Penrith
                         Bayswood                                   2003    Jervis Bay
                         Macarthur Gardens**                        2003    Campbelltown
                         Darcy’s Peak**                             2005    Hunter/North Coast Regions

                         * Total revenue generated throughout the life of the project
                         ^ % sold relates to contracts settled
                         ** Represents Stockland’s estimated share of joint development income including an option for fut

NSW - development pipeline

                         East Leppington**                           2011   East Leppington
                         Hunter/North Coast**                        2003   Hunter/North Coast Regions
                         Illawarra**                                 2003   South Coast
                         Wallarah Peninsula (Coast/North)            2004   Lake Macquarie
                         North West Sector                           2003   North Western Sydney
                         Warriewood                                  2003   Northern Beaches

                         * Total revenue generated throughout the life of the project
                         ** Includes options taken over land

Queensland - released to market

                         North Lakes                                 2004   North Lakes, Moreton Bay
                         North Shore                                 2001   Townsville
                         Pacific Pines                               1992   Gold Coast
                         Brightwater                                 2004   Sunshine Coast
                         Birtinya Island                             2004   Sunshine Coast
                         The Observatory                             2002   Kingsmore
                         Highland Reserve                            2003   Upper Coomera
                         Riverstone Crossing**                       2002   Otmoor
                         Augustine Heights                           2003   Ipswich
                         Parkwood                                    2003   Heathwood
                         Kawana Business Village                     2004   Sunshine Coast
                         Sovereign Pocket                            2010   Deebing Heights
                         Stone Ridge                                 2010   Narangba
                         Ormeau Ridge***                             2008   Ormeau
                         The Boardwalk***                            2002   Mount Coolum
                         Lake Kawana                                 2004   Sunshine Coast
                         Lake Doonella                               2004   Noosaville
                         Woodgrove                                   2007   Beerwah
                         Cane Bridge                                 2008   Mackay
                         Freshwater^^                                2003   Griffin
                         Hundred Hills***                            2007   Murwillumbah

                         * Total revenue generated throughout the life of the project
                         ^ % sold relates to contracts settled
                         ** Includes Stockland’s estimated share of joint development income (Stage 1 only). Total lots repr
                         ^^ Represents Stockland’s 20% share with SREEF1
                         *** Represents Stockland’s 50% share with SREEF1

Queensland - development pipeline

                         Caloundra Downs                             2004   Caloundra
                         Bellvista II                                2004   Caloundra
                         Paradise Waters                             2010   Deebing Heights
                         Rockhampton                                 2010   Rockhampton
                         Caboolture West/Ripeford                    2008   Caboolture
                         Bahrs Scrub                                 2008   Logan
                         Ocean Drive                                 2005   Sunshine Coast
                         Brookbent Road                              2003   Pallara
                         Bokarina Beach (Formerly Kawana Beach)      2004   Sunshine Coast
                         Vale (Formerly The Ridge)                   2010   Logan
                         Caboolture Waters                           2004   Caboolture

                         * Total revenue generated throughout the life of the project

Victoria - released to market

                         Highlands (including Mt Ridley Road) 2004, 2010 Craigieburn
                         Highlands Newbury Village**                2008 Craigieburn
                         Mernda Villages                            2002 Mernda
                         Eucalypt                             2009, 2011 Epping
                         Selandra Rise                              2007 Clyde North
                         The Point                                  2002 Point Lonsdale
                         Eve                                        2004 Cranbourne North
                         Hawkstowe                                  2002 South Morang
                         Sierra                                     2004 Cranbourne North

                         * Total revenue generated throughout the life of the project
                         ^ % sold relates to contracts settled
                         ** Represents Stockland’s 50% share with SREEF1
Victoria - development pipeline

                        Lockerbie**                                 2010   Kilkallo/Beveridge
                        Davis Road                                  2010   Tarneit
                        Leakes Road                                 2009   Truganina
                        Cranbourne North                            2007   Cranbourne-Berwick Road

                        * Total revenue generated throughout the life of the project
                        ** Includes options taken over land

Western Australia - released to market

                        The Vale^^                                 2011    Aveley
                        Newhaven                       2001, 2005, 2007    Piara Waters
                        Whiteman Edge^^                            2011    Henley Brook
                        Corimbia           2005, 2006, 2007, 2010, 2011    Landsdale
                        Settlers Hills                             2001    Baldivis
                        South Beach                          2002, 2004    South Beach, Fremantle
                        Settlers Townside                          2007    Baldivis
                        Baldivis Town Centre                       2001    Baldivis

                        * Total revenue generated throughout the life of the project
                        ^ % sold relates to contracts settled
                        ^^ Stockland ownership commenced on 1 July

Western Australia - development pipeline

                        Banjup                                    2008     Banjup
                        Amberton (Formerly Eglinton)**            2010     Eglinton
                        Wungong Reach**               2004, 2007, 2010     Brookdale
                        Brookdale West                            2007     Brookdale

                        * Total revenue generated throughout the life of the project
                        ** Includes Stockland’s estimated share of joint development income
            Total project value ($m)*   Total lots   % Sold^   Price range ($)




            $192                        639          99%       N/A
            $192                        1017         29%       $160,000 - $276,000
            $173                        596          40%       $175,000 - $380,000
            $150                        288          45%       $364,000 - $546,000
            $148                        517          90%       $198,000 - $294,000
            $144                        490          34%       $200,000 - $500,000
            $132                        523          43%       $160,000 - $303,000
            $86                         491          27%       $125,000 - $229,000
            $46                         196          97%       N/A
            $31                         222          49%       $100,000 - $280,000




ncome including an option for future development




            $1,080                      3200         N/A       $285,000 - $435,000
            $614                        2716         N/A       $140,000 - $263,000
            $433                        1839         N/A       $165,000 - $260,000
            $315                        948          N/A       $199,000 - $577,000
            $158                        515          N/A       $280,000 - $327,000
            $43                         63           N/A       $615,000 - $645,000




            $1,150                      4,751        71%       $173,000 - $338,000
            $1,133                      5,219        14%       $139,000 - $253,000
            $655                        5,040        99%       $212,000 - $300,000
            $431                        1,404        41%       $220,000 - $613,000
            $397                        834          18%       $255,000 - $557,000
            $259                        885          84%       $285,000 - $582,000
            $250                        1,071        55%       $200,000 - $470,000
            $208                        740          38%       $235,000 - $334,000
            $199                        816          60%       $153,000 - $300,000
            $152                        659          97%       $250,000 - $280,000
            $149                        52           48%       N/A
            $145                        752          1%        $164,000 - $227,000
            $129                        606          3%        $192,000 - $238,000
            $107                         432               8%    $182,000 - $321,000
            $94                          197               94%   $483,000 - $520,000
            $71                          138               99%   N/A
            $70                          224               31%   $250,000 - $318,000
            $57                          304               92%   $186,000 - $199,000
            $44                          217               37%   $156,000 - $207,000
            $39                          174               49%   $187,000 - $262,000
            $39                          181               28%   $184,000 - $255,000




me (Stage 1 only). Total lots represents 100% of the project.




            $5,000                       20,000            N/A   N/A
            $140                         649               N/A   $195,000 - $235,000
            $509                         1,799             N/A   $200,000 - $329,000
            $489                         1,968             N/A   $179,000 - $275,000
            $455                         1,419             N/A   $310,000 - $343,000
            $302                         1,200             N/A   $216,000 - $286,000
            $281                         907               N/A   $250,000 - $360,000
            $241                         899               N/A   $210,000 - $287,000
            $166                         350               N/A   $328,000 - $479,000
            $126                         580               N/A   $171,000 - $257,000
            N/A                          N/A               N/A   N/A




            $1,518                       6,988             38%   $165,000 - $382,000
            $50                          330               99%   N/A
            $596                         3,026             49%   $108,000 - $287,000
            $374                         1,619             10%   $130,000 - $277,000
            $273                         1,180             18%   $135,000 - $275,000
            $199                         521               0%    $215,000 - $437,000
            $161                         799               98%   $185,000 - $285,000
            $131                         749               99%   $170,000 - $265,000
            $46                          243               99%   N/A
$4,290   11,500   N/A   $199,000 - $540,000
$693     2,625    N/A   $220,000 - $310,000
$290     1,096    N/A   $200,000 - $260,000
$75      281      N/A   $230,000 - $250,000




$776     2,744    0%    $179,000 - $351,000
$498     1,995    53%   $189,000 - $285,000
$332     1,224    0%    $235,000 - $265,000
$309     1,006    23%   $230,000 - $375,000
$259     2,152    99%   $180,000 - $190,000
$147     229      86%   $480,000 - $593,000
$80      417      34%   $125,000 - $230,000
$44      137      6%    $130,000 - $200,000




$500     1,703    N/A   $265,000
$453     2,364    N/A   $185,000 - $650,000
$331     2,746    N/A   $185,000 - $230,000
$53      255      N/A   $195,000 - $215,000
Project description




Contemporary country living 45 kilometres south-west of Sydney appealing to mature families and upgraders.
Located in the Maitland area, 1.5 hours north of Sydney. This project is being developed to reflect a rural heritage within clos
Located on the edge of the Penrith Lakes District. This is a major lakes development, just 2 kilometres from the Penrith CBD.
Incorporating the latest release of McCauley’s Beach, Sandon Point has been developed for the discerning local home buyer.
Located high on Prospect Hill in the geographic heart of Sydney, 26 kilometres from the CBD.
Approximately 1.5 hours drive north of Sydney having frontage to Lake Macquarie. This project offers superb natural living en
Located 4 kilometres south of Penrith and 50 minutes drive west of Sydney, to the south of the established Glenmore Park pr
Bayswood is located in Vincentia surrounded by National Park, stunning beaches and amenities. 2.5 hours from Sydney and o
A joint Venture with Landcom approximately 30 kilometres from the CBD, close to shopping and transport with appeal to a b
Located in the Maitland area, 1.5 hours north of Sydney. This project is being developed to capture the open view landscapes




A community of 3,000 new homes, with the capacity for retail and retirement opportunities. The site is located 1.5 kilometre
Future release lands located 45 minutes west of Newcastle in the Maitland hinterland.
Located approximately 1.5 hours south of Sydney in the foothills of the Illawarra escarpment. Predominately first home buye
Approximately 1.5 hours drive north of Sydney. This project will offer superb natural living environments, high on the hills and
Future release lands within Northwest growth centre 50 minutes from Sydney CBD.
Future release lands located in Sydney’s northern beaches 40 minutes from CBD.




An award winning major residential masterplanned community. Situated 30 kilometres north of Brisbane with schools, a reta
A masterplanned community 12 kilometres north of Townsville CBD, includes two schools, childcare centre, parks, leisure and
Masterplanned community on the Gold Coast, minutes from Surfers Paradise and all Gold Coast attractions targeting predom
A vibrant residential community, which is situated on the southern end of the Sunshine Coast close to Mooloolaba.
A precinct of the Kawana Waters community, which is situated on the southern end of the Sunshine Coast. Approximately on
Elevated central Gold Coast location with sweeping views of bushland, creeks and Coolongatta Beaches.
25 kilometres north of Surfers Paradise in the northern Gold Coast growth corridor and only 40 minutes south of Brisbane.
Located 20 kilometres north-west of Surfers Paradise and set on a magnificent 194 hectares at the foot of the Tambourine M
Located in the Springfield growth corridor, this development offers contemporary country living.
25 kilometres south of Brisbane CBD and is located in the heart of the Forest Lakes district.
A commercial and retail precinct of the Kawana Waters community situated on the southern end of the Sunshine Coast. Appr
Sovereign Pocket is 6 kilometres from the Ipswich CBD. It has easy access to both the Cunningham Highway and Centenary Hi
Stone Ridge is located in the Moreton Bay Regional Council situated between Brisbane and the Sunshine Coast. The commun
Situated half way between Brisbane and the Gold Coast beaches.
Beachside lifestyle development adjacent to Mount Coolum on the Sunshine Coast, targeting upgraders. Project total include
A development precinct of the Kawana Waters community, situated on the southern end of the Sunshine Coast. Approximate
On the shores of Lake Doonella, this community is a natural enclave that provides easy access to both Noosa and Brisbane.
Situated only minutes away from Maleny, Woodgrove offers good local facilities for growing families.
Located in Mackay’s southern corridor approximately 5 kilometres from the city centre. Cane Bridge caters to predominantly
24 kilometres north of Brisbane CBD, Freshwater offers a more intimate neighbourhood experience.
25 kilometres south of the NSW/QLD border and 25 kilometres east of the coast, the project will yield the full mix of product




3,700 hectares of future developable land, including at least 20,000 residential lots, employment, retail, retirement living and
Bellvista II is on the periphery of the future Caloundra Downs master planned community located within 5 kilometres of the S
Paradise Waters is located in the Ripley Valley growth corridor and enjoys access from the newly constructed Centenary High
Located approximately 8 kilometres north of the Rockhampton CBD in central Queensland.
Approximately 45 kilometres north of Brisbane and 20 kilometres north-west of North Lakes.
131 hectares located within a major development area 35 kilometres south of Brisbane in the northern Gold Coast corridor.
Development adjoining Twin Waters development on the Sunshine Coast.
122 hectare site located 13 kilometres south of the Brisbane CBD. Comprises residential lots, as well as medium density dwel
A future development precinct of the Kawana Waters community, situated on the southern end of the Sunshine Coast. One h
Located 2 kilometres north of Stockland's Bahrs Scrub, approximately 35 kilometres south of Brisbane CBD and 25 kilometres
117 hectares of potential industrial/commercial land, currently unzoned.




A major masterplanned community located in Melbourne’s northern suburbs with picturesque views of surrounding hills and
Newbury Village is an entry level community that forms part of Highlands, located in Melbourne’s northern suburbs. The proj
Major masterplanned community, located 29 kilometres north of Melbourne, appealing to a broad market including young an
Residential community located in Melbourne’s north-eastern suburbs with frontage to Findon Creek. The project provides for
A market leading community that aims to set new benchmarks in liveability and social sustainability. Comprising retail, retirem
An innovative environmentally sustainable lifestyle development. Located on Victoria’s Bellarine Peninsula, appealing to loca
A vibrant family focused community located 42 kilometres south-east of Melbourne. Eve is a masterplanned community prov
A community surrounded by state parks, located 25 kilometres north of Melbourne appealing to space-seeking environmenta
A boutique community in natural surrounds located 42 kilometres south-east of Melbourne, appealing to lifestyle-seeking up
Lockerbie is a 1,121 hectare land parcel located on the Hume Highway in Kalkallo, approximately 35 kilometres north of the M
This site was included within Melbourne’s urban growth boundary in 2010 and adjoins the existing urban area of Tarneit. It is
Future masterplanned community incorporating residential, medium density, local parks and schools.
A community with waterway frontage 42 kilometres south-east of Melbourne.




An existing major residential masterplanned community. Situated 21 kilometres north-east of the Perth CBD incorporating sc
Outstanding quality and originality of design have culminated in this award winning masterplanned community which offers t
Situated 17 kilometres north-east of the Perth CBD incorporating medium density residential and a retail centre.
Located 18 kilometres north of the CBD adjacent to Stockland’s award winning Landsdale Gardens Estate. This estate appeals
This masterplanned community offers practical and modern family living centred around functionality. 18 landscaped parks a
Set in an unrivalled location, this multi UDIA award winning estate is just a short walk from both the cosmopolitan charm of F
Townside leverages Settlers Hills premium position in Baldivis. Just 38 kilometres south of Perth’s CBD, this new village provid
Baldivis Town Centre comprising retail, commercial, mixed-use lots and residential.




18 kilometres south from the CBD this 145 hectare project is located close to the Kwinana Freeway, Cockburn Central railway
A private partnership to develop a masterplanned coastal estate in Perth's north-west corridor, approximately 45 kilometres
This joint venture with the WA State Government will create a new masterplanned community 25 kilometres south-east of th
Located in Brookdale 25 kilometres south-east of Perth’s CBD, Brookdale West will provide a range of suburban lot products.
ral heritage within close proximity to the Hunter River.
from the Penrith CBD.
ning local home buyer.

superb natural living environments and lakeside living.
shed Glenmore Park project.
ours from Sydney and on the doorstep of the beautiful Jervis Bay area.
port with appeal to a broad demographic.
e open view landscapes and rural setting.




is located 1.5 kilometres from a proposed railway station and approximately 50 kilometres from the Sydney CBD.

inately first home buyers and upgraders.
nts, high on the hills and surf side living.




ane with schools, a retail centre, commercial precinct and a golf course.
entre, parks, leisure and shopping centre.
ctions targeting predominantly first home buyers and upgraders.
 Mooloolaba.
 oast. Approximately one hour drive north of Brisbane.

es south of Brisbane.
ot of the Tambourine Mountains.


he Sunshine Coast. Approximately one hour drive north of Brisbane.
 hway and Centenary Highway.
 ne Coast. The community features an 8.5 hectare eco-corridor and views to the Glasshouse Mountains.
rs. Project total includes medium density sites.
ine Coast. Approximately one hour drive north of Brisbane.
Noosa and Brisbane.

aters to predominantly upgrade buyers.

 the full mix of product types from small courtyard to large rural residential lots.




 il, retirement living and community lands.
hin 5 kilometres of the Sunshine Coast beaches. Bellvista II will contain a variety of lot types and housing choices including detached lots a
 tructed Centenary Highway.


n Gold Coast corridor.

 s medium density dwellings together with a retail village, local park and access to extensive regional open space reserves.
e Sunshine Coast. One hour drive north of Brisbane.
  CBD and 25 kilometres north of Surfers Paradise. Accessible by Pacific Motorway, with nearby rail and regional shopping facilities.




of surrounding hills and the Melbourne CBD skyline. The project provides for residential, medium density, retirement living and schools, to
thern suburbs. The project provides for entry level residential living and draws from the extensive amenity that Highlands has to offer.
arket including young and mature families.
The project provides for residential, medium density, mixed-use and school sites.
 omprising retail, retirement, aged care, public and private schools, sporting fields and an abundance of open space.
nsula, appealing to local residents and holiday-makers.
 anned community providing facilities that appeal to active, growing families.
e-seeking environmentally conscious families.
g to lifestyle-seeking upgraders.
 lometres north of the Melbourne CBD. The proposed masterplan includes a major activity centre comprising a large regional shopping ce
ban area of Tarneit. It is 28 kilometres west of the Melbourne CBD. The masterplanned community will include a neighbourhood activity c




th CBD incorporating schools, medium density residential and a retail centre.
mmunity which offers the opportunity to combine residential, educational and recreational facilities within a sought after location.

ate. This estate appeals to upgrader buyers. Tree lined avenues are a significant aspect of the estate, providing a connection with the natu
. 18 landscaped parks and gardens, two schools, local shopping facilities including Stockland Baldivis and convenient location to the beach
osmopolitan charm of Fremantle and the natural beauty of the northern Cockburn coastline.
 , this new village provides an affordable product mix which complements this masterplanned community and is located directly opposite




ockburn Central railway station and district shopping centre.
ximately 45 kilometres north of the CBD. The project will deliver a range of products to appeal to first home buyers, upgraders and premi
metres south-east of the CBD. The project will be delivered over 10 years and will see the land transformed into a vibrant, cohesive comm
suburban lot products. This site is near Stockland’s joint venture Wungong Reach project.
oices including detached lots and medium density units. It includes a 1,200sqm retail site, 3 major parks and significant open space. It will




space reserves.

ional shopping facilities.




etirement living and schools, together with retail and commercial amenity.
that Highlands has to offer.
ng a large regional shopping centre, neighbourhood centres and retirement living, as well as schools, healthcare, childcare and other comm
 ude a neighbourhood activity centre, schools and a network of parks linked to Davis Creek and Werribee River.




n a sought after location.

ding a connection with the natural environment.
 nvenient location to the beach are key features of this vibrant and established community.

 nd is located directly opposite Stockland Baldivis Town Centre.




e buyers, upgraders and premium ocean-front land.
d into a vibrant, cohesive community providing much needed employment and economic growth to the region.
nificant open space. It will ultimately form one of the gateways to Caloundra Downs.
, childcare and other community facilities.
Apartments Portfolio as at 30 June 2011
                                                                               Total project   Total
Property                   Acquisition date        Location/State              value ($m)*     units
Apartments - released to market
Tooronga**                                  2004   Glen Iris, Melbourne, VIC   $593                    819
The Village**                               2001   Balgowlah, NSW              $325                    236
Prince Henry                                2004   Little Bay, Sydney NSW      $322                    368
The Islands                                 2007   Southbeach, Perth, WA       $255                    100
Allisee                                     2003   Gold Coast, QLD             $241                    196
The Hyde***                                 2006   Sydney, NSW                 $226                    132

Apartments - undeveloped sites

South Yarra ^^                              2008 South Yarra, VIC              N/A             N/A

* Total revenue generated throughout the life of the project
** Including retail and commercial
*** Including retail
^ % sold relates to contracts exchanged and settled
^^ Sale contract exchanged with deferred settlement to occur in FY13
% Sold^    Current price range ($)

39%       $315,000-$1,390,000
98%       $1,385,000 - $1,535,000
99%       $395,000 - $1,155,000
41%       $1,050,000-$5,186,000
93%       $1,040,000 - $2,900,000
97%       $630,000 - $5,900,000




N/A       N/A
Project description

Located 7 kilometres from the CBD in the heart of Melbourne's eastern suburbs, Tooronga is a landmark mixed-use developm
The Village is a progressive mixed-use development on Sydney’s Northern Beaches. The development features Stockland Balg
The redevelopment of the old Prince Henry Hospital at Little Bay is a landmark residential development, unrivalled in its natu
Located just minutes from Fremantle on the Cockburn coast, the site offers apartments, townhouses and beach houses with
Premium waterfront development with a private internal marina and direct Broadwater access.
Overlooking Hyde Park, The Hyde is set to become one of Sydney’s most privileged addresses, boasting contemporary world-




This sought-after location in the heart of South Yarra, provides unparalleled access to amenity and lifestyle opportunities in o
ark mixed-use development which on completion will comprise 785 residential dwellings, a neighbourhood shopping centre, strata offices
 features Stockland Balgowlah, a shopping centre with a full line Coles and 60 speciality stores and premium quality apartments.
nt, unrivalled in its natural beauty and historic appeal. The development embodies inspiring beachside living just 20 minutes from Sydney’
and beach houses with spectacular panoramic views of Garden, Carnac and Rottnest islands as well as Fremantle harbour.

g contemporary world-class design and embracing breathtaking views of Hyde Park and Sydney Harbour. The Hyde is located at 157 Liver




style opportunities in one of Melbourne's most vibrant inner city locations.
pping centre, strata offices and a vibrant outdoor piazza with a range of dining options. Masterplanned over 5 stages, the first stage includ
ality apartments.
  20 minutes from Sydney’s CBD with leading edge architectural design, rich architectural heritage, beautiful streetscapes and open parkla


yde is located at 157 Liverpool Street, Sydney and features a 34 level tower comprising 131 luxuriously appointed apartments.
ages, the first stage includes two residential towers, the Stockland Tooronga Shopping centre, outdoor piazza and strata offices.

eetscapes and open parklands.


ed apartments.
piazza and strata offices.
Retirement Living - established villages as at 30 June 2011
           Property name                 Opening date          Location / State    Total units^
Arilla                                              2010   South Morang, VIC               195
Bellcarra Retirement Resort                         2003   Caloundra, QLD                  124
Bellevue Gardens Retirement Village                 1994   Port Macquarie, NSW             175
Bexley Gardens                                      1974   Bexley North, NSW                22
Bundoora                                            2003   Bundoora, VIC                   242
Burnside                                            2002   Burnside, VIC                   256
Camden View Village                                 2002   Laurieton, NSW                   54
Cameron Close                                       1989   Burwood, VIC                    187
Cardinal Freeman Village                            1980   Ashfield, NSW                   230
Castle Ridge Resort                                 1987   Castle Hill, NSW                114
Donvale                                             1990   Donvale, VIC                    144
Fig Tree                                            2009   Murrumba Downs, QLD             187
Gillin Park                                         1990   Warrnambool, VIC                103
Golden Ponds Retirement Resort                      1988   Forster, NSW                    159
Gowanbrae                                           2008   Gowanbrae, VIC                  189
Greenleaves                                         1986   Upper Mt Graratt, QLD           103
Halls Head Village                                  1988   Halls Head, WA                   46
Hastings Parklands Village                          1985   Port Macquarie, NSW             143
Highlands                                           2010   Craigieburn, VIC                198
Keilor                                              1997   Keilor, VIC                     191
Knox                                                1978   Wantirna South, VIC             204
LaTrobe                                             1989   Reservoir, VIC                  249
Leschenault Retirement Village                      1988   Bunbury, WA                      38
Lincoln Gardens Retirement Village                  2001   Port Macquarie, NSW              54
Long Island                                         1987   Frankston, VIC                  158
Lourdes Village                                     1983   Killara, NSW                    173
Macquarie Grove Retirement Village                  1996   Tahmoor, NSW                     42
Maybrook Village                                    1992   Cromer, NSW                      98
Midlands Terrace                                    1976   North Ballarat, VIC              89
Murray River Village                                1988   Mandurah, WA                     37
North Lakes#                                        2005   North Lakes, QLD                353
Oak Grange                                          1984   Brighton East, VIC              110
Patterson Lakes                                     1980   Patterson Lakes, VIC            207
Pine Lake                                           1982   Elanora, QLD                    147
Plenty Valley                                       2006   Epping, VIC                     204
Queens Lake Village                                 1987   Laurieton, NSW                  124
Ridgecrest                                          1986   Page, ACT                       126
River Parks Village                                 1988   Wilson, WA                       33
River Pines Village                                 1988   Wilson, WA                       34
Rosebud                                             1980   Rosebud, VIC                    104
Rylands Hawthorn                                    2008   Hawthorn, VIC                    84
Rylands Kew                                         2007   Kew, VIC                         65
Salford Park Community Village                      1983   Wantirna, VIC                   171
Salford Retirement Estate                           1990   Aberfoyle Park, SA               74
Salford Waters Retirement Estate                     1993   Victoria Point, QLD             181
Tarneit Skies Retirement Village                     2003   Tarneit, VIC                    159
Taylors Hill                                         2005   Taylors Hill, VIC               199
Templestowe                                          1983   Templestowe, VIC                151
The Cove Village                                     1983   Daleys Point, NSW               112
The Grange Retirement Estate                         1992   Grange, SA                       57
The Lakes at Delbridge                               2001   Sydenham, VIC                    29
The Lakes Estate                                     2000   Taylors Lake, VIC               172
The Village Swansea                                  1988   Swansea, NSW                    141
The Willows Retirement Village                       1988   Winston Hills, NSW              266
Unity Retirement Village                             1985   Aberfoyle Park, SA              130
Vermont                                              1981   Vermont South, VIC              125
Wamberal Gardens Retirement Village                  1983   Wamberal, NSW                    62
Wantirna                                             1986   Wantirna, VIC                   178
Waratah Highlands                                    2002   Bargo, NSW                      168

^ Excludes Aged Care (i.e. nursing homes and hostels)
* Occupied units as proportion of all units available for occupancy
# Includes North Lakes Extension

Retirement Living - development pipeline as at 30 June 2011
           Property name                  Opening date           Location / State   Total units^



Banjup                                                    Banjup, WA                        230
Brookbent Road (formerly Pallara)                         Brisbane, QLD                     170
Caloundra Downs                                           Caloundra, QLD                    400
Cardinal Freeman Village                                  Ashfield, NSW                     220
Eucalypt                                                  Wollert, VIC                      180
Gillin Park                                               Warrnambool, VIC                   40
Golden Ponds Retirement Resort                            Forster, NSW                       40
Highlands Extension                                       Craigieburn, VIC                   50
Highlands II                                              Craigieburn, VIC                  240
Lourdes Village                                           Killara, NSW                       10
Macarthur Gardens                                    2011 Campbelltown, NSW                 238
Maybrook                                                  Cromer, NSW                        20
Mernda                                                    Mernda, VIC                       240
Northshore                                                Townsville, QLD                   220
Selandra Rise                                             Cranbourne, VIC                   200
Settlers East                                        2011 Baldivis, WA                      220
The Cove Village                                          Daleys Point, NSW                  60

^ Excludes Aged Care (i.e. nursing homes and hostels)
* Occupied units as proportion of all units available for occupancy

Retirement Living - aged care as at 30 June 2011
           Property name                 Opening date          Location / State   Total beds
Cardinal Freeman                                    1980   Ashfield, NSW                 119
Gillin Park                                         1990   Warrnambool, VIC               45
Lourdes                                             1983   Killara, NSW                   83
Salford Park                                        1983   Wantirna, VIC                 120

* Occupied beds as proportion of all beds available for occupancy
                           Units yet to be
Established % Occupancy*                     Price range ($)
                           released
        50   100%                      145 $310,000 - $549,000
       124   90%                         0 $224,400 - $311,100
       175   97%                         0 $220,000 - $417,200
        22   95%                         0 $95,000 - $165,000
       242   100%                        0 $183,000 - $568,000
       256   100%                        0 $157,000 - $410,000
        54   98%                         0 $262,600 - $399,000
       187   96%                         0 $151,000 - $915,000
       230   89%                         0 $130,300 - $621,200
       114   93%                         0 $290,700 - $591,600
       144   96%                         0 $142,000 - $484,000
        88   70%                        99 $335,000 - $459,000
       103   87%                         0 $115,000 - $365,000
       159   80%                         0 $159,000 - $460,000
       149   100%                       40 $405,000 - $575,000
       103   100%                        0 $140,000 - $345,000
        46   89%                         0 $190,000 - $260,000
       143   91%                         0 $70,000 - $230,000
        60   90%                       138 $259,000 - $475,000
       191   94%                         0 $126,000 - $452,000
       204   98%                         0 $237,000 - $470,000
       249   99%                         0 $123,000 - $414,000
        38   100%                        0 $302,000 - $345,000
        54   98%                         0 $299,000 - $345,000
       158   97%                         0 $126,000 - $355,000
       173   84%                         0 $301,500 - $791,700
        42   95%                         0 $183,600 - $204,000
        98   73%                         0 $94,000 - $795,000
        89   98%                         0 $158,000 - $188,000
        37   81%                         0 $280,000 - $350,000
       301   92%                        52 $139,000 - $580,000
       110   97%                         0 $309,000 - $538,000
       207   99%                         0 $125,000 - $349,000
       147   100%                        0 $135,000 - $295,000
       204   100%                        0 $166,000 - $503,000
       124   82%                         0 $180,000 - $410,000
       126   100%                        0 $330,000 - $510,000
        33   94%                         0             $275,000
        34   94%                         0             $275,000
       104   99%                         0 $145,000 - $293,000
        84   100%                        0$634,000 - $1,555,000
        65   100%                        0$559,000 - $1,501,000
       171   98%                         0 $265,200 - $443,700
        74   91%                         0 $290,000 - $338,000
       181   94%                        0    $127,500 - $622,200
       123   89%                       36    $185,000 - $332,500
       199   100%                       0    $215,000 - $401,000
       151   96%                        0    $120,000 - $444,000
       112   71%                        0    $250,000 - $701,200
        57   100%                       0    $380,000 - $395,000
        29   79%                        0    $184,000 - $247,000
       172   96%                        0    $112,000 - $475,000
       141   91%                        0    $215,000 - $370,000
       198   94%                       68    $111,000 - $610,000
       130   92%                        0    $128,500 - $320,000
       125   98%                        0    $247,000 - $366,000
        62   82%                        0    $260,000 - $305,000
       178   98%                        0    $125,000 - $381,000
       111   98%                       57    $275,400 - $392,700




                           Units yet to be
Established % Occupancy*                          Price range ($)
                           released


           N/A                        N/A                 N/A
           N/A                        N/A                 N/A
           N/A                        N/A                 N/A
           N/A                        N/A                 N/A
           N/A                        N/A                 N/A
           N/A                        N/A                 N/A
           N/A                        N/A                 N/A
           N/A                        N/A                 N/A
           N/A                        N/A                 N/A
           N/A                        N/A                 N/A
         0 N/A                        238 $299,000 - $479,000
           N/A                        N/A                 N/A
           N/A                        N/A                 N/A
           N/A                        N/A                 N/A
           N/A                        N/A                 N/A
         0 N/A                        220                 N/A
           N/A                        N/A                 N/A
                            Units yet to be
Established % Occupancy*                      Price range ($)
                            released
                       97               N/A              N/A
                       93               N/A              N/A
                       94               N/A              N/A
                       94               N/A              N/A
Project description
Arilla is situated in one of Melbourne's key growth corridors. Demand for this village continues to grow with display villas and
Located in the newly established suburb of Bellvista, Bellcarra is close to the centre of Caloundra and King’s Beach. The village
The village is centrally located less than 2 kilometres from the Port Macquarie city centre and is set on 5 hectares of landscap
Located in south-west Sydney, Bexley Gardens is only 800 metres from Bexley North train station which serves the East Hills l
Bundoora Village is situated close to the Northern Ring Road, RMIT University, shopping strips and is well serviced by public t
Just 20 minutes from the Melbourne CBD, Burnside Village is located in Melbourne's burgeoning west, just off the Western H
Camden View is situated between North Brother Mountain and the Camden Haven River on the NSW mid-north coast. Camd
Cameron Close is situated in Burwood, close to the exclusive shopping and restaurant precincts of Camberwell and Canterbur
Cardinal Freeman is set in the sought-after inner west suburb of Ashfield. Close to shops and transport, the village features a
Castle Ridge Resort is less than 2 kilometres from Castle Towers shopping centre in Castle Hill with Dural, Carlingford, North R
Donvale is located on Springvale Road in one of Melbourne's prime eastern suburbs, surrounded by high quality housing and
Fig Tree is well located adjacent to a neighbourhood shopping centre with access to medical and recreational facilities. The p
Located in Warrnambool on the south west Victorian coast, it is close to the city centre, hospital and shopping centres. The v
Golden Ponds is set between Wallis Lake and the beaches of Forster on the NSW mid-north coast. The resort is surrounded b
Gowanbrae enjoys an excellent location providing quick access to the city, airport and surrounding suburbs. Construction is c
Greenleaves is adjacent to a shopping centre and cinemas and has facilities including a bowling green and barbeque area.
Halls Head is an hour's drive south of Perth and 3 kilometres from Mandurah. The village offers a hairdressing salon, podiatris
Hastings Parklands is a private retreat set on 5 hectares of landscaped parkland, just minutes from transport, medical facilitie
Highlands is situated within Stockland's Highlands masterplanned community and adjacent to the future town centre. The co
Keilor Village benefits from close proximity to the Western Ring Road and Calder Freeway and bus services running directly p
Knox Village enjoys an excellent location directly opposite Knox Shopping Centre, comprising cafes, restaurants, a cinema com
LaTrobe is located adjacent to the Summerhill shopping centre and close to Westfield Northland. Other facilities in the area,
Close to the Leschenault Inlet, Leschenault Retirement Village is within easy walking distance of Bunbury city centre. The villa
Lincoln Gardens is ideally located in a quiet suburban enclave and is in close proximity to Port Macquarie's hospital and town
Long Island Village is located just off the Nepean Highway, a short stroll from the Seaford foreshore. Retail amenities servicin
Lourdes is located in Killara on Sydney's North Shore overlooking Garigal National Park. The village offers a central clubhouse
Macquarie Grove is located at the gateway to the Southern Highlands. It is close to local clubs, recreational activities, medica
Perched high on the ridge at Cromer in Sydney’s northern beaches, the village has a bushland outlook. It features a library an
Midlands Terrace enjoys strong demand from prospective residents and is well positioned in its local area market. The village
Located 1 kilometre from Bunbury, Murray River offers amenities including air-conditioned clubhouse with outdoor terrace
Located in one of Australia's fastest growing regions, the North Lakes Community is only 35 minutes from Brisbane and 30 mi
Oak Grange is located on Hawthorn Road, Brighton East, close to Brighton's famous beaches, the city and a tram ride to the v
Patterson Lakes Village is located directly opposite Patterson Lakes Shopping Centre and Marina and features a central lake a
Pine Lake is located at Elanora on Queensland’s Gold Coast and features a swimming pool and views of a nearby lake.
Plenty Valley Village is situated off McDonalds Road in Epping, within close proximity to the nearby Epping shopping complex
Situated on the Queens Lake waterfront, Queens Lake village is equipped with its own private jetty. It is conveniently located
Ridgecrest at Page in Canberra is spread over 5.4 hectares and has facilities including barbeque areas, a bowling green and re
River Parks is set amongst private landscaped gardens adjacent to the Canning River and located in Wilson, only 13 kilometre
River Pines, adjacent to Canning River, is situated within easy access of local shopping centres.
Rosebud is located in the heart of the Mornington Peninsula and is well serviced by the region's many championship golf cou
Rylands of Hawthorn is positioned close to the shopping and entertainment precinct of Camberwell Junction. This retirement
Rylands of Kew is an apartment style retirement resort adjacent to shops and facilities at Kew Junction. The property's centre
Residents at Salford Park Community Village live independently in one or two bedroom units, however there are also aged ca
Located in the tree-studded foothills of South Australia's Aberfoyle Park, Salford Retirement Estate is 20 kilometres from Ade
Situated on the Moreton Bay waterfront in Victoria Point, Salford Waters is less than 3 kilometres to Victoria Point Shopping
Tarneit Skies is located in Melbourne’s western suburbs. The village features an indoor swimming pool, spa, gymnasium, dinin
Taylors Hill is located approximately 5 minutes from the Calder Freeway and Watergardens Regional Shopping Centre. The vil
Templestowe Village is set out in a park-like environment opposite beautiful Westerfolds Park, which features walking tracks
Situated on the NSW Central Coast, the village boasts absolute water frontage with most units having views of Brisbane Wate
The Grange is located just over 1 kilometre from the seafront suburb of Grange and 12 kilometres from Adelaide's CBD. The
The Lakes at Delbridge is a small village located close to the Taylors Lakes village, less than 1 kilometre from the Watergarden
The Lakes Estate is ideally located on the corner of Kings Road and Melton Highway, directly opposite Watergardens Shoppin
Located in the seaside peninsula township of Swansea, on the NSW Central Coast, the village is situated in close proximity to
The Willows is situated at Winston Hills in north-west Sydney. The village is close to shopping centres, sports clubs, hospitals,
Located in Aberfoyle Park, Unity's facilities include a bowling green, recreation hall, dining room, and half-court tennis.
Vermont Village benefits from an excellent location, plenty of open space and established gardens. Located on Burwood High
Wamberal Gardens is located on the NSW Central Coast adjacent to Wamberal Lagoon with the beach just one block away. T
Wantirna Village benefits from an outstanding range of retail and transport amenities. The 6.3 hectare site adjoins the Blind
Set on 10 hectares of woodland, Waratah Highlands is in close proximity to the Southern Highlands and 500 metres to Bargo




Project description



Incorporated within Stockland's Banjup masterplanned community, 18 kilometres south of Perth CBD. The site is close to the
Potential retirement living opportunity identified 22 kilometres south of Brisbane, within Stockland's residential community.
There is an opportunity for retirement communities within Stockland's 3,700 hectare Caloundra Downs project which will inc
A major project application for new independent living units, to be developed in stages, has been approved by the NSW Depa
An 8.1 hectare parcel of land has been identified within Stockland’s Eucalypt Residential project for a retirement village.
There is an opportunity to build additional ILUs at the village based on the current DA.
A master plan for the remaining stages of development has been created and an amended development approval will be sub
An opportunity within Stockland's residential community exists adjacent to the Highlands retirement village to acquire develo
A 10 hectare parcel of land has been ear marked for a second village within the Highlands residential project.
A Development Application for the construction of additional independent living units and a partial upgrade of the existing co
Incorporated within Stockland's masterplanned community, 57 kilometres south-west of the Sydney CBD. The location is adja
A Development Application has been approved for new ILAs.
Located within the Stockland Mernda Villages masterplanned community 25 kilometres north-east of Melbourne. Masterplan
Potential retirement living opportunity identified within Stockland’s masterplanned North Shore residential community locat
A retirement living opportunity within Stockland's wider Selandra Rise masterplanned community in Cranbourne, south-east
Incorporated within Stockland's Settlers Hills masterplanned community, 38 kilometres south of Perth CBD. The site is immed
A Development Application approval has been granted for independent living units, new community facilities and sales/admi
Project description
Located in Ashfield, the Cardinal Freeman Lodge provides low-level nursing care while the village's nursing home provides hig
Located in Warrnambool, the regional hub of South Western Victoria.
Located at Lourdes Retirement Village and set in beautifully landscaped, colourful gardens. Lourdes Aged Care provides short
Located at Salford Park Retirement Village in Wantirna.
w with display villas and sales office now open. Four Stages (83 villas) are now complete with the balance of the villas within the village co
King’s Beach. The village features a swimming pool, bowling green and billiards room.
  5 hectares of landscaped gardens. Facilities include a restaurant, coffee shop, auditorium, library, hair salon, medical consulting room, bo
ch serves the East Hills line into Sydney CBD. It is also in close proximity to major shopping centres in Hurstville, Rockdale and Kogarah.
well serviced by public transport. The 6.7 hectare site enjoys excellent views over the Plenty Valley Gorge.
  just off the Western Highway. Virtually next door is Burnside shopping Centre complete with two supermarkets and specialty retail.
 mid-north coast. Camden View is just 100 metres away from the centre of Laurieton.
mberwell and Canterbury and is well serviced by bus and tram routes linking to rail and Chadstone shopping centre. Elevated parts of the p
 t, the village features a magnificent chapel along with the heritage listed Glentworth House. The village offers various levels of care rangi
ral, Carlingford, North Rocks and Pennant Hills within easy reach. It offers a swimming pool and spa, visiting doctor, snooker and billiard ro
 gh quality housing and a strong potential catchment to the north and north east, with limited competition in the area.
eational facilities. The project launched in August 2009 and is now home to over 100 residents (62 villas). The community centre opened
 hopping centres. The village offers various levels of care including independent living, serviced apartments and a 45-bed aged care facility
e resort is surrounded by 13 hectares of landscaped grounds, ponds and rainforest.
burbs. Construction is complete on all units with more than 150 people now living at Gowanbrae. Construction of the final Independent L
 and barbeque area.
dressing salon, podiatrist, library, pool table, indoor bowls and barbeque facilities. Public transport is available opposite the village.
nsport, medical facilities and the centre of Port Macquarie. The village has a full-length artificial grass bowling green and heated indoor po
 re town centre. The community centre and bowling green opened in February 2011.
vices running directly past the site. It is a short distance to numerous shopping options.
staurants, a cinema complex and a wide range of grocery and retail outlets.
 er facilities in the area, well serviced by bus and tram, include Bundoora Park, Preston Markets and major hospitals.
ury city centre. The village offers a wide range of amenities including a bowling green and an outdoor entertaining area overlooking the es
 rie's hospital and town centre.
 etail amenities servicing the village include Frankston, Patterson Lakes and Mt Eliza centres, all of which have grown substantially in recen
ers a central clubhouse with coffee shop as well as a dining room, lounge, chapel, billiards room, hair salon, library, heated swimming poo
 ional activities, medical services and transport. It features computer facilities, hairdresser, library and barbeque facilities.
   It features a library and billiards room, a gym and indoor heated pool and spa.
 rea market. The village adjoins Northway Shopping Centre with proximity to medical and community facilities.
e with outdoor terrace and barbeque area, solar-heated swimming pool, plus a lounge, hairdressing salon, podiatrist room and library.
 om Brisbane and 30 minutes from Brisbane International Airport. The resort layout provides security as well as an outstanding array of a
and a tram ride to the vibrant shopping and entertainment strips of High Street, Chapel Street and Acland Street.
 eatures a central lake as the focal point of the village. Local bus services passing the front gate link to Carrum railway station.
 f a nearby lake.
 ping shopping complex. The location is well serviced with transport, healthcare, medical and aged care facilities.
 is conveniently located just 1 kilometre from Laurieton's town centre.
 a bowling green and resident’s lounge.
 lson, only 13 kilometres from the centre of Perth.

 championship golf courses, wineries and beaches. In addition, several bowling clubs and the Rosebud RSL are convenient to the site. Pub
 nction. This retirement resort features stunning modern apartments and spacious communal facilities.
n. The property's centrepiece is a heritage building that has been blended with contemporary architecture to create a relaxing environme
r there are also aged care facilities available offering 120 rooms for those who require some extra assistance.
20 kilometres from Adelaide's CBD and less than 3 kilometres to the local shopping centre.
Victoria Point Shopping Centre and about a half hour drive to Brisbane's CBD.
 l, spa, gymnasium, dining room, crafts room, computer suite and billiard tables.
 hopping Centre. The village features modern community facilities with both independent living units and apartments.
 features walking tracks along the banks of the Yarra River, barbeque facilities and picnic areas.
 views of Brisbane Waters. Construction of eight waterfront independent living units was recently completed. The village has two outdoo
m Adelaide's CBD. The village is in close proximity to public transport, hospital and shopping centres.
e from the Watergardens Regional shopping centre.
 Watergardens Shopping Centre and railway station.
  d in close proximity to Lake Macquarie and Swansea Shopping Centre. The village features three salt-water swimming pools and two com
  sports clubs, hospitals, 24-hour medical facilities and less than 1 kilometre to the M2 freeway leading to Sydney's CBD.
half-court tennis.
ocated on Burwood Highway near Koomba Park, the village is close to several large shopping centres including Vermont South, Knox, The
   just one block away. The village features two swimming pools, two outdoor barbeque areas, an activities room and library.
 e site adjoins the Blind Creek Reserve and is in close proximity to the Dandenong Ranges National Park, Morack and Ringwood Golf Cours
  d 500 metres to Bargo railway station. The village features a hairdresser, beautician, library and billiards room.




 The site is close to the Kwinana Freeway and Gateway regional shopping centre.
 esidential community.
ns project which will include at least 20,000 residential lots, employment and retail. These will be developed concurrently as the broader
roved by the NSW Department of Planning.
retirement village.

ent approval will be submitted.
village to acquire developable land to extend this key project. Further investigations are being undertaken by the project team.

 grade of the existing community facilities has been approved.
 BD. The location is adjacent to the regional retail and transport centre.

Melbourne. Masterplan is currently being developed with commencement scheduled in 2012.
ential community located approximately 10 kilometres north-west of Townsville.
ranbourne, south-east of Melbourne.
 CBD. The site is immediately adjacent to the Stockland shopping complex.
acilities and sales/administration offices.
sing home provides high-level care.

ged Care provides short-term respite care, a low-care hostel and a high-care nursing home across 83 beds which caters to both general se
villas within the village completing by June 2012 and community centre due for completion in August 2011.

edical consulting room, bowling green and resident clubhouse adjoining an indoor heated swimming pool and barbeque area.
Rockdale and Kogarah.

ts and specialty retail.

tre. Elevated parts of the property enjoy district and CBD skyline views.
arious levels of care ranging from independent living, assisted living and low and high aged care.
tor, snooker and billiard room and a hairdresser.

ommunity centre opened in 2010 and offers a heated indoor pool, bowling green, bar, library, gym, billiards room and hair salon.
a 45-bed aged care facility.

of the final Independent Living Apartments is well underway with the first residents moving in September 2011.

pposite the village.
reen and heated indoor pool and spa.




ng area overlooking the established gardens.

 own substantially in recent years.
ary, heated swimming pool and spa. The village offers various levels of care from independent living, assisted living and low and high aged




atrist room and library.
 an outstanding array of amenities. The resort is within the expanding North Lakes Town Centre and easy walking distance from the regio

ailway station.




onvenient to the site. Public transport services link to Rosebud town centre and Frankston railway station.

eate a relaxing environment with state-of-the-art convenience.
he village has two outdoor barbeque areas, three swimming pools, a spa and a private jetty.




mming pools and two community centres.


ermont South, Knox, The Glen and Forest Hill.
 and library.
and Ringwood Golf Course, Knox library and several hospitals.




ncurrently as the broader project comes to market.




e project team.
caters to both general service and extra service high care.
barbeque area.




om and hair salon.




ving and low and high aged care.




ng distance from the regional shopping centre, health and education precincts.
UPF as at 30 June 2011


Fund
Stockland Direct Office Trust No. 2 (SDOT2)
Stockland Direct Office Trust No. 3 (SDOT3)
Stockland Direct Retail Trust No. 1 (SDRT1)
Stockland Residential Estates Equity Fund No. 1 (SREEF1)

* Represents gross assets
** Represents SREEF1 total committed equity (less capital returned to unit holders) and drawn debt at 30 June 2011


SDOT2




SDOT3




SDRT1




SREEF1




Property
75 George Street, Parramatta
541 St Kilda Road, Melbourne
181 Great Eastern Highway, Belmont
222 Russell Street Car Park, Melbourne
Benowa Gardens Shopping Centre
Pacific Pines Town Centre
Tamworth Homespace

* Fund share of total net revenue generated throughout the life of the project.
** 100% of NLA
^ Newbury Village of Stockland’s Highlands Residential Communities project only
^^^ Stages 4, 6, 7 and 9 only
                                                                               Funds under
                                                                               management      Establishment
            Type of fund                                                          ($m)*        date
            Retail                                                                     189.5   Sep 2005
            Retail                                                                      92.9   Jun 2007
            Retail                                                                      66.1   Dec 2006
            Wholesale                                                                 90.5**   Aug 2006


ty (less capital returned to unit holders) and drawn debt at 30 June 2011

            Property                                                         State              % Ownership


            Optus Centre                                                     NSW               49%
            Macquarie Park
            SDOT2




            75 George Street, Parramatta                                     NSW               100%
            541 St Kilda Road, Melbourne                                     VIC               100%
            181 Great Eastern Highway, Belmont                               WA                100%
            222 Russell Street Car Park, Melbourne                           VIC               100%




            Benowa Gardens                                                   QLD               100%
            Pacific Pines                                                    QLD               100%
            Tamworth Homespace                                               NSW               100%




            Freshwater                                                       QLD               80%
            Ormeau Ridge                                                     QLD               50%
            Highlands Newbury Village^                                       VIC               50%
            Hundred Hills                                                    NSW               50%
            The Boardwalk^^^                                                 QLD               50%




            Description                                                              State       Acquistion date
                                                                               NSW               Jun 2007
            75 George Street is a six level, twin tower, commercial office building. The office levels comprise north and south wings which
                                                                               VIC               Jun 2007
            541 St Kilda Road comprises six levels of office accommodation and two ground floor retail tenancies, with a lettable area of
                                                                               WA                Jun The
            181 Great Eastern Highway is a commercial building with a lettable area of 4,036sqm. 2007building provides three levels of of
                                                                               on              Jun 2007
            The public car park at 222 Russell Street forms part of the MantraVIC Russell hotel/retail complex. The building is located in M
                                                                              QLD              Dec 2006
            Benowa Gardens is a fully enclosed neighbourhood shopping centre located on the Gold Coast. The centre was originally cons
                                                                              QLD               community, situated in the northern Gold
            Pacific Pines Town Centre was developed by Stockland as part of a masterplannedDec 2006
                                                                              NSW              Dec 2006
            Tamworth Homespace is a modern single level bulky goods shopping centre located on the New England Highway, approxima

 throughout the life of the project.

Residential Communities project only
Expiry/review date
Jun 2013
Jun 2014
Jun 2014
Aug 2014




Book value ($m)          Valuation ($m)           NLA (m2)**   % of fund


              186.2                       186.2 84,194         100%




                  32.6                     32.6   9,535        37%
                   25                       25    8,251        28%
                   17                       17    4,036        19%
                  13.3                     13.3   N/A          16%




                  30.7                     30.7 5,732          48%
                  19.5                     19.5 5,518          31%
                  13.6                     13.6 13,070         21%




154.8*                   N/A                      N/A          41%
107.4*                   N/A                      N/A          29%
50.0*                    N/A                      N/A          13%
39.0*                    N/A                      N/A          10%
26.2*                    N/A                      N/A          7%




                         Cost including           Valuation
Ownership/title          additions                date         Valuation/ ($/m2)
100%/Freehold            $40.0 million            Jun 2011     $32.6 million ($3,419/m2)
100%/Freehold            30.40 million            Jun 2011     $25.0 million ($3,030/m2)
100%/Freehold            15.10 million            Jun 2011     $17.0 million (4,212/m2)
100%/Freehold   16.90 million   Jun 2011   $13.25 million (N/A)
100%/Freehold   27.10 million   Jun 2011   $30.7 million ($5,356/m2)
100%/Freehold   17.80 million   Jun 2011   $19.5 million ($3,534/m2)
100%/Freehold   22.40 million   Jun 2011   $13.6 million ($1,041/m2)
UK as at 30 June 2011
                                                                                   Stockland UK
Property                                          County            Category       % equity
1 Tudor Street, London                            Central London Commercial        100%
Billingham Town Centre, Billingham                Teesside       Retail            100%
St Andrew Square, Edinburgh                       Scotland       Mixed-use         100%
Three Horse Shoes Mall, Market Place, Warminster Wiltshire       Retail            100%
112 London Road North, Lowestoft                  Suffolk        Retail            100%
                                                  Scotland
St Mungo's Retail Park, St Mungo's Road, Cumbernauld             Retail            100%
Keymarket House, Middle Street, Yeovil            Somerset       Retail            100%
73, 73A, 73B High Street, Brentwood               Essex          Retail            100%
Ascot Drive, Derby                                Derbyshire     Industrial/Retail 100%
William Hunter Way, Brentwood                     Essex          Retail            100%
Land at Dalgety Bay                               Scotland       Retail            100%

Note: A$ at exchange rates prevailing at 30/6/2011 (0.6667)
Book value
($m)
$48.9
$31.2
$26.4
$15.9
$9.5
$6.5
$2.2
$1.0
$0.6
$0.2
$0.1

				
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