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Mirvac Group

property compendium FY21

Reimagine urban life

in vestment dustrial overview THE FOUNDRY, SOUTH EVELEIGH, SYDNEY

Mirvac manages a diverse portfolio of investment assets across the office, industrial, retail and build to rent sectors, leased to quality tenants including leading Australian and international companies. Mirvac’s integrated business approach includes utilising the specialised in-house asset management team, that is responsible for all leasing and property management across the entire portfolio.

Reimagine urban life

FY21 Mirvac Property Compendium

Investment Overview

Property Portfolio

as at 30 JUNE 2021

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NO. OF BOOK GLA/NLA [3 ] WALE OCCUPANCY CAP
TYPE OF PROPERTY PROPERTIES [1 ] VALUE [2] (sqm) (by income) (by area) RATE
OFFICE 25 $7,663m 785,841 sqm 6.3 yrs 95.5% 5.14%
INDUSTRIAL 10 $1,187m 469,339 sqm 7.4 yrs 100.0% 4.78%
RETAIL 15 $3,160m 409,569 sqm 3.6 yrs 98.0% 5.47%
BUILD TO RENT 1 $370m n/a n/a n/a 4.00%
SUBTOTAL 51 $12,379m 1,664,749 sqm 5.6 yrs 97.4% 5.17%
OTHER INVESTMENTS n/a $273m n/a n/a n/a n/a
TOTAL PORTFOLIO 51 $12,652m 1,664,749 sqm 5.6 yrs 97.4% 5.17%
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Property Portfolio Diversification

Sector Diversification[4]

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OFFICE 62%
INDUSTRIAL 10%
RETAIL 25%
BUILD TO RENT 3%
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Geographic Diversification[4]

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NSW 63%
VIC 20%
QLD 10%
WA 4%
ACT 3%
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Lease Expiry Profile[5]

Total Portfolio

Office Portfolio

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70% 60%
54%
60% 50%
50% 47%
40%
40%
30%
30%
20%
20%
10% 4% 13% 10% 9% 10% 7% 10% 5% 8% 8% 7% 11% 7%
0% 0%
Vacant FY22 FY23 FY24 FY25 FY26 FY27+ Vacant FY22 FY23 FY24 FY25 FY26 FY27+
Industrial Portfolio Retail Portfolio
70% 70% 65% 65% 70% 70%
60% 60%
60% 60%
50% 50%
50% 50%
40% 40%
40% 40%
30% 30% 30% 30% 25% 25% 26% 26%
20% 20% 16% 16% 20% 20% 15% 15% 13% 13% 11% 11%
10% 10% 0% 0% 3% 3% 7% 7% 4% 4% 5% 5% 10% 10% 1% 3% 7% 7%
0% 0% 0% 0%
Vacant Vacant FY22 FY22 FY23 FY23 FY24 FY24 FY25 FY25 FY26 FY26 FY27+ FY27+ Vacant Vacant FY22 FY22 FY23 FY23 FY24 FY24 FY25 FY25 FY26 FY26 FY27+ FY27+
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Portfolio number includes assets held for sale, and excludes properties under construction (IPUC) and properties being held for development.
Portfolio value includes IPUC, assets held for sale and properties being held for development and excludes AASB 16 lease liability gross up amounts. Subject to rounding.
Retail GLA excludes 80 Bay Street & 1-3 Smail Street, Ultimo.
By book value, including IPUC, assets held for sale and properties being held for development, but excluding other investments.
By income including assets held for sale, but excluding IPUC, BTR, other investments and properties being held for development.

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industrialoffice
OLDERFLEET, 477 COLLINS STREET, MELBOURNE
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Comprising 62% of Mirvac’s property portfolio, the office portfolio is focused on the core markets of Sydney and Melbourne and has a weighted average lease expiry of 6.3 years

Reimagine urban life

FY21 Mirvac Property Compendium

Office

Grade Diversification[1]

Geographic Diversification[2]

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Premium 38%Premium 38% A Grade 60%A Grade 60% B Grade 1%B Grade 1% Other 1%Other 1%

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Sydney 57%Sydney 57% Melbourne 29%Melbourne 29% Perth 6%Perth 6% Canberra 4%Canberra 4% Brisbane 4%Brisbane 4%

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% OF OFFICE
PORTFOLIO
BOOK GROSS VALUATION AT NABERS
PROPERTY LOCATION NLA VALUE [3] OFFICE RENT 30 JUNE 2021 [4] RATING
1 101-103 MILLER STREET NORTH SYDNEY, NSW 37,473 SQM 4.4% $1,060/SQM $314.8m 5.0 Star
2 40 MILLER STREET NORTH SYDNEY, NSW 12,615 SQM 2.5% $933/SQM $180.0m 5.0 Star
3 10-20 BOND STREET SYDNEY, NSW 38,275 SQM 4.8% $1,235/SQM $345.0m 5.5 Star
4 200 GEORGE STREET SYDNEY, NSW 38,983 SQM 8.1% $1,439/SQM $578.5m 5.5 Star
5 275 KENT STREET SYDNEY, NSW 77,207 SQM 12.5% $1,122/SQM $890.2m 5.5 Star
6 60 MARGARET STREET SYDNEY, NSW 40,836 SQM 5.1% $1,110/SQM $362.0m 4.5 Star
7 QUAY WEST CAR PARK, 109-111 HARRINGTON STREET SYDNEY, NSW 398 SQM 0.5% - $38.3m -
8 SOUTH EVELEIGH PRECINCT EVELEIGH, NSW 102,117 SQM 6.4% $707/SQM $452.9m -
9 75 GEORGE STREET PARRAMATTA, NSW 9,568 SQM 1.2% $646/SQM $87.6m 5.0 Star
10 1 DARLING ISLAND PYRMONT, NSW 22,197 SQM 4.3% $888/SQM $304.1m 6.0 Star
11 65 PIRRAMA ROAD PYRMONT, NSW 15,931 SQM 3.0% $923/SQM $211.0m 6.0 Star
12 699 BOURKE STREET MELBOURNE, VIC 19,303 SQM 1.5% $735/SQM $109.2m 5.5 Star
13 90 COLLINS STREET MELBOURNE, VIC 21,308 SQM 3.7% $794/SQM $263.0m 4.0 Star
14 367 COLLINS STREET MELBOURNE, VIC 37,863 SQM 6.0% $749/SQM $426.0m 4.5 Star
15 OLDERFLEET 477 COLLINS STREET MELBOURNE, VIC 58,608 SQM 6.2% $832/SQM $440.9m -
16 664 COLLINS STREET MELBOURNE, VIC 26,476 SQM 2.2% $697/SQM $154.7m 5.5 Star
17 383 LA TROBE STREET MELBOURNE, VIC 10,211 SQM 1.7% $749/SQM $121.6m -
18 380 ST KILDA ROAD MELBOURNE, VIC 24,554 SQM 2.6% $581/SQM $183.1m 5.5 Star
19 RIVERSIDE QUAY SOUTHBANK, VIC 31,822 SQM 5.0% $724/SQM $355.1m 4.5 Star
20 2 RIVERSIDE QUAY SOUTHBANK, VIC 21,132 SQM 2.1% $720/SQM $150.5m 5.5 Star
21 23 FURZER STREET PHILLIP, ACT 46,167 SQM 4.6% $562/SQM $324.5m 6.0 Star
22 189 GREY STREET SOUTHBANK, QLD 12,613 SQM 1.3% $672/SQM $90.0m 4.5 Star
23 ALLENDALE SQUARE, 77 ST GEORGES TERRACE PERTH, WA 28,957 SQM 3.3% $854/SQM $232.0m 4.5 Star
OFFICE INVESTMENT PROPERTIES TOTAL 734,614 SQM 93.4% [5] $6,658.3m [5]
24 LOCOMOTIVE WORKSHOP SOUTH EVELEIGH, NSW $149.4m
25 55 PITT STREET SYDNEY, NSW $179.2m
26 80 ANN STREET BRISBANE, QLD $203.7m
OFFICE INVESTMENT PROPERTIES UNDER CONSTRUCTION TOTAL $532.3m
OFFICE INVESTMENT PROPERTIES AND INVESTMENT PROPERTIES UNDER
CONSTRUCTION TOTAL 734,614 SQM $7,190.6m [5]
27 8 CHIFLEY SQUARE SYDNEY, NSW 19,346 SQM 3.2% $1,718/SQM $228.9m 5.5 Star
28 DAVID MALCOLM JUSTICE CENTRE, 28 BARRACK STREET PERTH, WA 31,881 SQM 3.4% $959/SQM $243.4m 5.0 Star
INVESTMENTS IN JOINT VENTURES TOTAL 51,227 SQM 6.6% $472.3m
OFFICE TOTAL 785,841 SQM 100% [5] $7,662.9m [5]
WEIGHTED AVERAGE LEASE EXPIRY (BY INCOME) 6.3 YEARS
OCCUPANCY % (BY AREA) 95.5%
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By book value, excluding IPUC and properties being held for development.
By book value, including IPUC and properties being held for development.
Excludes IPUC and properties being held for development.
Book values represent Mirvac’s ownership.
This total value includes 53 Walker Street & 97 Pacific Highway, North Sydney, valued at $30.8m, which is being held for development, and various other of $12.5m. These assets are excluded from all other metrics. Subject to rounding.

FY21 Mirvac Property Compendium

Investment Property Office

101-103 MILLER STREET

NORTH SYDNEY, NSW

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This landmark premium grade office tower and major retail centre is located above Greenwood Plaza in the heart of the North Sydney CBD, with a direct link to North Sydney Railway Station. The complex was built in 1992 and underwent major refurbishment in 2008. A premium grade office tower in North Sydney, it has achieved a 5 Star Green Star rating and a 5 Star NABERS Energy rating.

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Summary Information
GRADE Premium
NABERS RATING 5.0 Star
OWNERSHIP 50% Mirvac, 50% Nuveen
NLA 37,473 SQM
CAR SPACES 184
ACQUISITION DATE Jun-94
LAST EXTERNAL VALUATION DATE 30-Jun-20
VALUATION AT 30 JUNE 2021 $314.8m [1]
VALUER Directors Valuation
CAPITALISATION RATE 5.25%
DISCOUNT RATE 6.25%
GROSS OFFICE RENT $1,060/SQM
Major Tenants NLA SQM Lease Expiry
Commonwealth of Australia 10,324 Nov-26
Genworth Financial Mortgage Insurance 5,898 Jul-23
Lease Expiry Profile % Income
VACANCY 0.0%
FY22 18.2%
FY23 1.9%
FY24 24.3%
FY25 3.5%
FY26 0.0%
FY27+ 52.1%
WALE 3.9 YEARS
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Book value represents Mirvac's ownership.

FY21 Mirvac Property Compendium

Investment Property Office

40 MILLER STREET

NORTH SYDNEY, NSW

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40 Miller Street is an A-grade office building located adjacent to North Sydney Railway Station. Developed by Mirvac in 2000, it enjoys commanding views of Sydney harbour from all floors, with outdoor balconies providing additional amenity for tenants. The building has achieved a 5 Star NABERS Energy rating.

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Summary Information
GRADE A
NABERS RATING 5.0 Star
OWNERSHIP 100%
NLA 12,615 SQM
CAR SPACES 105
ACQUISITION DATE May-98
LAST EXTERNAL VALUATION DATE 30-Jun-21
VALUATION AT 30 JUNE 2021 $180.0m
VALUER Colliers
CAPITALISATION RATE 5.38%
DISCOUNT RATE 6.38%
GROSS OFFICE RENT $933/SQM
Major Tenants NLA SQM Lease Expiry
UGL 5,814 Feb-28
InvoCare 1,658 Jul-21
Lease Expiry Profile % Income
VACANCY 11.3%
FY22 18.3%
FY23 10.1%
FY24 10.7%
FY25 0.0%
FY26 0.0%
FY27+ 49.6%
WALE 3.7 YEARS
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FY21 Mirvac Property Compendium

Investment Property Office

10-20 BOND STREET SYDNEY, NSW

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With a newly refurbished lobby and end of trip facility, 10-20 Bond Street delivers a powerful blend of modern style and function. An A-grade office building with premium grade services, this efficient commercial office tower provides regularly shaped floor plates throughout, inviting natural light to permeate the workspaces and showcase the impressive cityscape and harbour views. The building has achieved a 4 Star Green Star design rating, and a 5.5 Star NABERS Energy rating.

Summary Information

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GRADE A
NABERS RATING 5.5 Star
50% Mirvac, 50% Prime Property Fund Asia
OWNERSHIP Limited Partnership
NLA 38,275 SQM
CAR SPACES 150
ACQUISITION DATE Dec-09
LAST EXTERNAL VALUATION DATE 30-Jun-21
VALUATION AT 30 JUNE 2021 $345.0m [1]
VALUER Savills
CAPITALISATION RATE 5.00%
DISCOUNT RATE 6.25%
GROSS OFFICE RENT $1,235/SQM
Major Tenants NLA SQM Lease Expiry
Clearview Administration Services 3,436 Apr-26
Johnson Winter & Slattery Lawyers 2,772 Jun-22
Lease Expiry Profile % Income
VACANCY 11.1%
FY22 19.5%
FY23 7.6%
FY24 22.9%
FY25 9.8%
FY26 18.2%
FY27+ 10.9%
WALE 2.8 YEARS
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Book value represents Mirvac's ownership.

FY21 Mirvac Property Compendium

Investment Property Office

200 GEORGE STREET

SYDNEY, NSW

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Completed in 2016, EY Centre is an iconic Premium-grade office tower, designed by award winning architects Francis-Jones Morehen Thorp. The tower is one of the first 'smart' office buildings in Australia, with market leading technology that adjusts the internal environment to meet the needs of tenants. In March 2017, Mirvac received Australia's first Gold WELL-certification for its tenancy at 200 George Street, in addition to a 6 Star Green Star Interior rating. The building has achieved a 6 Green Star As-Built rating, and a 5.5 Star NABERS rating.

Summary Information

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GRADE Premium
NABERS RATING 5.5 Star
OWNERSHIP 50% Mirvac, 50% AMP
NLA 38,983 SQM
CAR SPACES 61
ACQUISITION DATE Jun-16
LAST EXTERNAL VALUATION DATE 30-Jun-20
VALUATION AT 30 JUNE 2021 $578.5m [1]
VALUER Directors Valuation
CAPITALISATION RATE 4.38%
DISCOUNT RATE 5.85%
GROSS OFFICE RENT $1,439/SQM
Major Tenants [2] NLA SQM Lease Expiry
EY 25,850 Dec-26
AGL Energy 3,457 Jun-29
Lease Expiry Profile % Income
VACANCY 0.0%
FY22 0.1%
FY23 7.3%
FY24 1.2%
FY25 0.0%
FY26 18.9%
FY27+ 72.5%
WALE 5.3 YEARS
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Book value represents Mirvac's ownership.
Excludes Mirvac tenancy.

FY21 Mirvac Property Compendium

Investment Property Office

275 KENT STREET SYDNEY, NSW

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Completed in 2006, Westpac Place is one of the largest office buildings in Australia and is located in the fast growing north-western corridor of the Sydney CBD. The winner of numerous property industry awards, it provides premium grade office accommodation and is the head office of Westpac Banking Corporation. The precinct also includes a sun-filled urban park available for public use, a newly renovated food court, childcare facilities and a public thoroughfare linking Darling Harbour to the Wynyard transport hub. The building features state-of-the-art technology to minimise environmental impacts and reduce energy costs, and has a 6 Star Green Star Performance rating, and a 5.5 Star NABERS Energy rating.

Summary Information

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GRADE Premium
NABERS RATING 5.5 Star
OWNERSHIP 50% Mirvac, 50% ISPT
NLA 77,207 SQM
CAR SPACES 214
ACQUISITION DATE Aug-10
LAST EXTERNAL VALUATION DATE 31-Dec-19
VALUATION AT 30 JUNE 2021 $890.2m [1]
VALUER Directors Valuation
CAPITALISATION RATE 4.63%
DISCOUNT RATE 6.38%
GROSS OFFICE RENT $1,122/SQM
Major Tenants NLA SQM Lease Expiry
Westpac 59,465 Oct-30
Westpac L24-32 16,131 Jul-24
Lease Expiry Profile % Income
VACANCY 1.3%
FY22 0.0%
FY23 0.0%
FY24 0.0%
FY25 25.0%
FY26 0.2%
FY27+ 73.5%
WALE 7.6 YEARS
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Book value represents Mirvac's ownership.

FY21 Mirvac Property Compendium

Investment Property Office

60 MARGARET STREET

SYDNEY, NSW

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This A-grade building is situated in the heart of the Sydney CBD and comprises 36 levels of office accommodation and three levels of retail, with direct access to the Wynyard railway station and bus terminal. Developed in 1980, the complex has been progressively refurbished. The building has achieved a 4.5 Star NABERS rating.

Summary Information

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GRADE A
NABERS RATING 4.5 Star
OWNERSHIP 50% Mirvac, 50% Blackstone
NLA 40,836 SQM
CAR SPACES 143
ACQUISITION DATE Aug-98
LAST EXTERNAL VALUATION DATE 30-Jun-21
VALUATION AT 30 JUNE 2021 $362.0m [1]
VALUER Cushman & Wakefield
CAPITALISATION RATE 5.13%
DISCOUNT RATE 6.13%
GROSS OFFICE RENT $1,110/SQM
Major Tenants NLA SQM Lease Expiry
ING Bank 9,712 May-27
Cliftons 4,171 Dec-28
Lease Expiry Profile % Income
VACANCY 9.3%
FY22 6.9%
FY23 12.6%
FY24 8.9%
FY25 5.5%
FY26 4.9%
FY27+ 51.9%
WALE 4.5 YEARS
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Book value represents Mirvac's ownership.

FY21 Mirvac Property Compendium

Investment Property Office

QUAY WEST CAR PARK, 109-111 HARRINGTON STREET

SYDNEY, NSW

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image
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Located under Quay West Suites in The Rocks area of Sydney, this eight-level commercial car park is close to the financial district of the Sydney CBD and several five star hotels. Two retail outlets are also incorporated at street level.

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Summary Information
GRADE -
OWNERSHIP 100%
NLA 398 SQM
CAR SPACES 598
ACQUISITION DATE Nov-89
LAST EXTERNAL VALUATION DATE 30-Jun-20
VALUATION AT 30 JUNE 2021 $38.3m
VALUER Directors Valuation
CAPITALISATION RATE 6.50%
DISCOUNT RATE 7.25%
Major Tenants NLA SQM Lease Expiry
S&S (NSW) 268 Feb-23
-
Wilson Parking Aug-24
Lease Expiry Profile % Income
VACANCY 0.0%
FY22 0.0%
FY23 8.5%
FY24 0.0%
FY25 88.6%
FY26 0.0%
FY27+ 2.9%
WALE 3.2 YEARS
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FY21 Mirvac Property Compendium

Investment Property Office

SOUTH EVELEIGH PRECINCT

EVELEIGH, NSW

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Located on Sydney's CBD fringe, South Eveleigh is Mirvac's largest office development to date. Along with its consortium partners, AMP Wholesale Office Fund, Sunsuper and Centuria Property Funds, Mirvac is bringing to life a new technology and innovation hub, with convenient direct links to Redfern train station. The precinct includes office space, leased to Commonwealth Bank of Australia, ground plane retail, public artworks and range of community facilities, including sports courts, an oval and skate park. Axle (Building 1) and Yerrabingin House (Building 3) reached completion in March 2019. Axle comprises 8 levels and over 44,000 square metres of NLA with 179 car spaces and premium end of trip facilities and has achieved a 6 star Green Star rating, a 5 star NABERS energy rating and a 4 star NABERS water rating. Yerrabingin House is the precinct’s cultural hub that brings together Aboriginal and eco-tourism history and knowledge into a multi-layered heritage experience. The Foundry (Building 2) was completed in May 2020 and spans over 50,000 square metres of NLA over 6 levels. With expansive floorplates nearing 9,000 square metres, it has earnt the title of one of Australia’s first ‘groundscrapers’ in reference to its large-scale, low-level design. The Foundry is targeting a 6 Star Green Star rating, and a 5 Star NABERS Energy rating.

Summary Information

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GRADE A
NABERS RATING -
OWNERSHIP 33.3% Mirvac, 33.3% AMP, 33.3% SUNSUPER
NLA 102,117 SQM
CAR SPACES 700
ACQUISITION DATE Aug-19
LAST EXTERNAL VALUATION DATE 31-Dec-20
VALUATION AT 30 JUNE 2021 $452.9m [1]
VALUER Directors Valuation
CAPITALISATION RATE 4.88%
DISCOUNT RATE 6.26%
GROSS OFFICE RENT $707/SQM
Major Tenants NLA SQM Lease Expiry
CBA (The Foundry) 51,079 Nov-35
CBA (Axle and Yerrabingin House) 46,570 Aug-34
Lease Expiry Profile % Income
VACANCY 0.4%
FY22 0.0%
FY23 0.0%
FY24 0.3%
FY25 0.0%
FY26 0.2%
FY27+ 99.1%
WALE 13.4 YEARS
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Book value represents Mirvac's ownership.

FY21 Mirvac Property Compendium

Investment Property Office

75 GEORGE STREET

PARRAMATTA, NSW

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75 George Street is an A-grade twin tower comprising six levels. Prominently positioned in the heart of Parramatta CBD, at the intersection of George Street and Smith Street, the asset benefits from being located between the traditional centre of Parramatta, and the new development precinct concentrated around Parramatta Square and the future Parramatta metro train station.

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Summary Information
GRADE A
NABERS RATING 5.0 Star
OWNERSHIP 100%
NLA 9,568 SQM
CAR SPACES 104
ACQUISITION DATE Jan-18
LAST EXTERNAL VALUATION DATE 30-Jun-20
VALUATION AT 30 JUNE 2021 $87.6m
VALUER Directors Valuation
CAPITALISATION RATE 5.75%
DISCOUNT RATE 7.00%
GROSS OFFICE RENT $646/SQM
Major Tenants NLA SQM Lease Expiry
Westpac 6,485 Apr-23
HCF 1,888 Apr-23
Lease Expiry Profile % Income
VACANCY 5.1%
FY22 2.7%
FY23 87.4%
FY24 0.0%
FY25 4.8%
FY26 0.0%
FY27+ 0.0%
WALE 1.8 YEARS
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FY21 Mirvac Property Compendium

Investment Property Office

1 DARLING ISLAND PYRMONT, NSW

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Developed by Mirvac in 2006, this A-grade office campus comprises six office floors along with two basement levels of parking. Situated on the Sydney CBD fringe close to the waterfront, the building features large floor plates of more than 4,400 square metres each and has achieved a 6 Star NABERS Energy rating.

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Summary Information
GRADE A
NABERS RATING 6.0 Star
OWNERSHIP 100%
NLA 22,197 SQM
CAR SPACES 131
ACQUISITION DATE Apr-04
LAST EXTERNAL VALUATION DATE 31-Dec-19
VALUATION AT 30 JUNE 2021 $304.1m
VALUER Directors Valuation
CAPITALISATION RATE 5.38%
DISCOUNT RATE 6.50%
GROSS OFFICE RENT $888/SQM
Major Tenants NLA SQM Lease Expiry
Google Australia 22,197 Jun-27
Lease Expiry Profile % Income
VACANCY 0.0%
FY22 0.0%
FY23 0.0%
FY24 0.0%
FY25 0.0%
FY26 0.0%
FY27+ 100.0%
WALE 6.0 YEARS
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FY21 Mirvac Property Compendium

Investment Property Office

65 PIRRAMA ROAD

PYRMONT, NSW

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Developed by Mirvac in 2002 with a full lobby and end of trip refurbishment completed in 2021, 65 Pirrama Road is an A grade, waterfront commercial office complex, comprising five office levels. Also known as Bay Centre, located next to Darling Harbour and The Star casino, the building has large floor plates in excess of 3,000 square metres each, and offers tenants a flexible and modern working environment with city and harbour views from all levels. The building has achieved a 6.0 Star NABERS Energy rating and a 4.5 star NABERS water rating.

Summary Information

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GRADE A
NABERS RATING 6.0 Star
OWNERSHIP 100%
NLA 15,931 SQM
CAR SPACES 111
ACQUISITION DATE Jun-01
LAST EXTERNAL VALUATION DATE 30-Jun-21
VALUATION AT 30 JUNE 2021 $211.0m
VALUER Colliers
CAPITALISATION RATE 5.50%
DISCOUNT RATE 6.25%
GROSS OFFICE RENT $923/SQM
Major Tenants NLA SQM Lease Expiry
John Holland 6,243 Dec-24
Australian Communications & Media Authority 3,289 Feb-28
Lease Expiry Profile % Income
VACANCY 5.7%
FY22 0.4%
FY23 0.0%
FY24 0.0%
FY25 43.6%
FY26 20.7%
FY27+ 29.6%
WALE 4.3 YEARS
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FY21 Mirvac Property Compendium

Investment Property Office

699 BOURKE STREET

MELBOURNE, VIC

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Developed by Mirvac and completed in mid-2015, 699 Bourke Street is located at the western edge of Southern Cross Station and affords direct access to transport, food and lifestyle amenities, with the Docklands waterfront within minutes from the front door. The A-grade building is designed to provide premium grade services and promote visual and vertical connectivity for employees, boasting 270 degree views and natural light provided via floor to ceiling glazing. The building has received a 6 Star Green Star Design rating and a 5.5 Star NABERS Energy rating.

Summary Information

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GRADE A
NABERS RATING 5.5 Star
50% Mirvac, 50% Prime Property Fund Asia Limited
OWNERSHIP
Partnership
NLA 19,303 SQM
CAR SPACES 86
ACQUISITION DATE Jun-15
LAST EXTERNAL VALUATION DATE 30-Jun-20
VALUATION AT 30 JUNE 2021 $109.2m [1]
VALUER Directors Valuation
CAPITALISATION RATE 5.13%
DISCOUNT RATE 6.50%
GROSS OFFICE RENT $735/SQM
Major Tenants NLA SQM Lease Expiry
AGL Energy 19,303 May-25
-
Secure Parking Apr-23
Lease Expiry Profile % Income
VACANCY 0.0%
FY22 0.0%
FY23 3.3%
FY24 0.0%
FY25 96.7%
FY26 0.0%
FY27+ 0.0%
WALE 3.9 YEARS
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Book value represents Mirvac's ownership.

FY21 Mirvac Property Compendium

Investment Property Office

90 COLLINS STREET

MELBOURNE, VIC

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90 Collins Street is an A-grade office tower located at the prestigious Paris end of Collins Street in Melbourne's CBD. The property has undergone a multi-million dollar refurbishment to provide state-of-the-art building services, contemporary finishes and modern end-of-trip facilities. The building has achieved a 4 Star NABERS rating.

Summary Information

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GRADE A
NABERS RATING 4.0 Star
OWNERSHIP 100%
NLA 21,308 SQM
CAR SPACES 111
ACQUISITION DATE May-13
LAST EXTERNAL VALUATION DATE 30-Jun-21
VALUATION AT 30 JUNE 2021 $263.0m
VALUER Colliers
CAPITALISATION RATE 5.25%
DISCOUNT RATE 6.25%
GROSS OFFICE RENT $794/SQM
Major Tenants NLA SQM Lease Expiry
Whitbread Associates 1,461 Dec-24
Richemont Group 406 Jan-23
Lease Expiry Profile % Income
VACANCY 18.5%
FY22 28.4%
FY23 24.6%
FY24 1.0%
FY25 8.0%
FY26 15.2%
FY27+ 4.3%
WALE 1.8 YEARS
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FY21 Mirvac Property Compendium

Investment Property Office

367 COLLINS STREET

MELBOURNE, VIC

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367 Collins Street is ideally located in the centre of the Melbourne CBD, close to public transport, retail, the theatre and arts district and is a short tram ride to the MCG and Etihad Stadium. Lobby and retail upgrades have added to its surrounding aspect, the tower offers spectacular views of the Yarra River and is five minutes walk to Flinders Street Station. The building has achieved a 4.5 Star NABERS energy rating.

Summary Information

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GRADE A
NABERS RATING 4.5 Star
OWNERSHIP 100%
NLA 37,863 SQM
CAR SPACES 196
ACQUISITION DATE Nov-13
LAST EXTERNAL VALUATION DATE 31-Dec-20
VALUATION AT 30 JUNE 2021 $426.0m
VALUER Directors Valuation
CAPITALISATION RATE 5.25%
DISCOUNT RATE 6.25%
GROSS OFFICE RENT $749/SQM
Major Tenants NLA SQM Lease Expiry
Optus 9,202 Jul-23
Sportsbet 8,817 Jun-29
Lease Expiry Profile % Income
VACANCY 3.0%
FY22 6.1%
FY23 15.6%
FY24 31.2%
FY25 11.5%
FY26 5.6%
FY27+ 27.0%
WALE 3.6 YEARS
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FY21 Mirvac Property Compendium

Investment Property Office

OLDERFLEET 477 COLLINS STREET

MELBOURNE, VIC

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Completed in 2020 and located on Melbourne’s premier office street in the heart of the CBD, Olderfleet 477 Collins Street is an iconic 58,000 square metre Premium grade office tower designed by award winning architects Grimshaw, with interiors by Carr Design. The building pays homage to Melbourne’s past with its sympathetic refurbishment of three prominent heritage buildings fronting Collins Street. Setting a new benchmark for contemporary workplaces in Australia, the development includes smart technology, leading sustainability features and premium amenities, including hotel-style end-of-trip facilities, childcare, a concierge and flexible space options. Anchor tenant Deloitte has 28,000 square metres of space and they are joined by several other organisations including Norton Rose Fulbright, Lander & Rogers and Urbis. Olderfleet was the first office building in the country to achieve a Platinum Core and Shell WELL Pre-Certification and is targeting 6 star Green Star and 5 star NABERS ratings.

Summary Information

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GRADE Premium
NABERS RATING -
OWNERSHIP 50% Mirvac, 50% Suntec
NLA 58,608 SQM
CAR SPACES 416
ACQUISITION DATE Jul-20
LAST EXTERNAL VALUATION DATE 31-Dec-20
VALUATION AT 30 JUNE 2021 $440.9m [1]
VALUER Directors Valuation
CAPITALISATION RATE 4.75%
DISCOUNT RATE 6.25%
GROSS OFFICE RENT $832/SQM
Major Tenants NLA SQM Lease Expiry
Deloitte 28,791 Jun-32
Landers & Rogers 5,924 Dec-32
Lease Expiry Profile % Income
VACANCY 5.3%
FY22 0.0%
FY23 0.0%
FY24 0.0%
FY25 0.9%
FY26 0.0%
FY27+ 93.8%
WALE 9.9 YEARS
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Book value represents Mirvac's ownership.

FY21 Mirvac Property Compendium

Investment Property Office

664 COLLINS STREET

MELBOURNE, VIC

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Developed by Mirvac and completed in 2018, 664 Collins Street provides approximately 26,000 square metres of office space across nine levels, with expansive floor plates of over 3,100 square metres. In its unique urban location above Southern Cross Station, 664 Collins Street provides its tenants with uninterrupted city views on all sides, as well as pedestrian access to the station, major tram routes, and both Collins and Bourke streets through a unique elevated open-air public walkway. The building is equipped with smart technology that collects real-time data to improve operational efficiency, as well as pioneering sustainability features driving its 5.5 star NABERS energy rating. A 6 Star Green Star Design are being targeted. The building also boasts best in class end-of-trip facilities exclusive to its tenants, along with on-site car parking.

Summary Information

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GRADE A
NABERS RATING 5.5 Star
50% Mirvac, 50% Prime Property Fund Asia Limited
OWNERSHIP
Partnership
NLA 26,476 SQM
CAR SPACES 101
ACQUISITION DATE Apr-18
LAST EXTERNAL VALUATION DATE 30-Jun-20
VALUATION AT 30 JUNE 2021 $154.7m [1]
VALUER Directors Valuation
CAPITALISATION RATE 5.00%
DISCOUNT RATE 6.50%
GROSS OFFICE RENT $697/SQM
Major Tenants NLA SQM Lease Expiry
Pitcher Partners 9,086 Jun-30
ExxonMobil 7,360 Apr-28
Lease Expiry Profile % Income
VACANCY 0.0%
FY22 0.0%
FY23 3.8%
FY24 0.0%
FY25 0.0%
FY26 0.0%
FY27+ 96.2%
WALE 7.0 YEARS
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Book value represents Mirvac's ownership.

FY21 Mirvac Property Compendium

Investment Property Office

383 LA TROBE STREET

MELBOURNE, VIC

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Located within Melbourne CBD’s legal precinct and close to Flagstaff train station and other public transport services, 383 La Trobe Street is a seven-level B-grade office asset with future redevelopment potential. The office component covers approximately 10,200 square metres and is leased to the Australian Federal Police.

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Summary Information
GRADE B
NABERS RATING -
OWNERSHIP 100%
NLA 10,211 SQM
CAR SPACES 544
ACQUISITION DATE Sep-18
LAST EXTERNAL VALUATION DATE 30-Jun-20
VALUATION AT 30 JUNE 2021 $121.6m
VALUER Directors Valuation
CAPITALISATION RATE 5.38%
DISCOUNT RATE 6.50%
GROSS OFFICE RENT $749/SQM
Major Tenants NLA SQM Lease Expiry
Australian Federal Police 10,211 Jun-23
Secure Parking - Jul-21
Lease Expiry Profile % Income
VACANCY 0.0%
FY22 16.6%
FY23 83.4%
FY24 0.0%
FY25 0.0%
FY26 0.0%
FY27+ 0.0%
WALE 1.7 YEARS
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FY21 Mirvac Property Compendium

Investment Property Office

380 ST KILDA ROAD

MELBOURNE, VIC

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image
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This 15-level, A-grade office building comprises six podium levels of up to 2,800 square metres each, with tower floors of 1,200 square metres each. Prominently located at the city end of St Kilda Road and opposite the Royal Botanic Gardens, the building has excellent natural light and views to Port Phillip Bay. The building has achieved a 5.5 star NABERS Energy rating and a 6 star NABERS Water rating.

Summary Information

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GRADE A
NABERS RATING 5.5 Star
OWNERSHIP 100%
NLA 24,554 SQM
CAR SPACES 482
ACQUISITION DATE Oct 95 (50%), Apr 01 (50%)
LAST EXTERNAL VALUATION DATE 30-Jun-21
VALUATION AT 30 JUNE 2021 $183.1m
VALUER Colliers
CAPITALISATION RATE 5.75%
DISCOUNT RATE 6.25%
GROSS OFFICE RENT $581/SQM
Major Tenants NLA SQM Lease Expiry
Toll Transport 4,064 Nov-25
Defence Health 2,792 May-28
Lease Expiry Profile % Income
VACANCY 16.2%
FY22 29.3%
FY23 17.4%
FY24 0.5%
FY25 5.2%
FY26 20.6%
FY27+ 10.8%
WALE 2.3 YEARS
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FY21 Mirvac Property Compendium

Investment Property Office

RIVERSIDE QUAY

SOUTHBANK, VIC

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Riverside Quay is a modern A-grade office complex comprising three individual buildings, situated along the riverfront of Southbank, directly across from Melbourne's CBD. Enjoying panoramic views of the city, Riverside Quay is in close proximity to strong public transport links and excellent amenity, with Flinders Street Station, the Crown Entertainment Complex, Southgate and extensive dining precincts situated in the nearby area. The buildings have achieved an average NABERS rating of 4.5 stars.

Summary Information

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GRADE A
NABERS RATING 4.5 Star
OWNERSHIP 100%
NLA 31,822 SQM
CAR SPACES 83
ACQUISITION DATE Apr 02 (1&3), Jul 03 (2)
LAST EXTERNAL VALUATION DATE 31-Dec-19
VALUATION AT 30 JUNE 2021 $355.1m
VALUER Directors Valuation
CAPITALISATION RATE 5.38%
DISCOUNT RATE 6.75%
GROSS OFFICE RENT $724/SQM
Major Tenants NLA SQM Lease Expiry
Walker Group 3,096 Dec-22
Leftbank 655 Oct-32
Lease Expiry Profile % Income
VACANCY 5.6%
FY22 9.1%
FY23 17.7%
FY24 10.5%
FY25 17.3%
FY26 13.0%
FY27+ 26.8%
WALE 4.0 YEARS
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FY21 Mirvac Property Compendium

Investment Property Office

2 RIVERSIDE QUAY SOUTHBANK, VIC

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Developed by Mirvac and completed in 2016, 2 Riverside Quay is located along the waterfront of Southbank, directly across from Melbourne's CBD. The office development was built above an existing eight-level car park structure and comprises 12 levels of office with ground floor retail and a roof top terrace. Leading sustainability initiatives were implemented within the building, including high-performance air conditioning, rainwater capture and recycling, and the use of high-performance glazing and façade systems to reduce solar loads resulting in a 5.5 star NABERS energy rating.

Summary Information

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GRADE A
NABERS RATING 5.5 Star
OWNERSHIP 50% Mirvac, 50% ISPT
NLA 21,132 SQM
CAR SPACES 568
ACQUISITION DATE Dec-16
LAST EXTERNAL VALUATION DATE 30-Jun-21
VALUATION AT 30 JUNE 2021 $150.5m [1]
VALUER Savills
CAPITALISATION RATE 5.00%
DISCOUNT RATE 6.25%
GROSS OFFICE RENT $720/SQM
Major Tenants NLA SQM Lease Expiry
PwC 19,130 Jan-29
Wilson Parking - Jan-29
Lease Expiry Profile % Income
VACANCY 0.0%
FY22 7.9%
FY23 0.6%
FY24 0.0%
FY25 0.0%
FY26 1.0%
FY27+ 90.5%
WALE 6.8 YEARS
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Book value represents Mirvac's ownership.

FY21 Mirvac Property Compendium

Investment Property Office

23 FURZER STREET PHILLIP, ACT

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Completed in 2010, this campus style office building was purpose built for the Department of Health and Ageing and comprises 10 office levels with floors of approximately 4,500 square metres each, as well as two levels of basement parking. The building has achieved a 6 Star NABERS Energy rating, a 5.5 star NABERS Water rating and a 6 Star GREEN star performance rating.

Summary Information

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GRADE A
NABERS RATING 6.0 Star
OWNERSHIP 100%
NLA 46,167 SQM
CAR SPACES 374
ACQUISITION DATE Feb-10
LAST EXTERNAL VALUATION DATE 31-Dec-20
VALUATION AT 30 JUNE 2021 $324.5m
VALUER Directors Valuation
CAPITALISATION RATE 5.75%
DISCOUNT RATE 7.00%
GROSS OFFICE RENT $562/SQM
Major Tenants NLA SQM Lease Expiry
Department of Health 45,967 Feb-35
Blue Fez 200 Feb-26
Lease Expiry Profile % Income
VACANCY 0.0%
FY22 0.0%
FY23 0.0%
FY24 0.0%
FY25 0.0%
FY26 0.4%
FY27+ 99.6%
WALE 13.6 YEARS
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FY21 Mirvac Property Compendium

Investment Property Office

189 GREY STREET

SOUTHBANK, QLD

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Developed by Mirvac in 2005, this 12-level complex features large efficient floor plates of approximately 1,600 square metres each, with excellent natural light and spectacular river and city views. It has achieved a 4.5 Star NABERS energy rating.

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Summary Information
GRADE A
NABERS RATING 4.5 Star
OWNERSHIP 100%
NLA 12,613 SQM
CAR SPACES 146
ACQUISITION DATE Apr-04
LAST EXTERNAL VALUATION DATE 31-Dec-20
VALUATION AT 30 JUNE 2021 $90.0m
VALUER Directors Valuation
CAPITALISATION RATE 6.63%
DISCOUNT RATE 7.00%
GROSS OFFICE RENT $672/SQM
Major Tenants NLA SQM Lease Expiry
Insurance Australia 5,640 Mar-25
Ausenco Services 2,009 Jan-29
Lease Expiry Profile % Income
VACANCY 21.5%
FY22 0.0%
FY23 0.0%
FY24 4.4%
FY25 51.0%
FY26 0.0%
FY27+ 23.1%
WALE 3.6 YEARS
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FY21 Mirvac Property Compendium

Investment Property Office

ALLENDALE SQUARE, 77 ST GEORGES TERRACE

PERTH, WA

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Allendale Square is an iconic 31 level, A-Grade office tower, prominently located in the heart of Perth’s CBD. The office tower sits above a retail arcade known as Underground at Allendale Square. Underground acts as an important pedestrian link to the central Perth shopping malls as well as providing access to public transport networks such as Elizabeth Quay train station and bus port. The office tower enjoys column free floor plates and magnificent views of Swan River from the upper levels. Mirvac has progressively upgraded the property since acquisition in 2013 providing our customers with a quality workplace and desirable amenity.

Summary Information

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GRADE A
NABERS RATING 4.5 Star
OWNERSHIP 100%
NLA 28,957 SQM
CAR SPACES 84
ACQUISITION DATE May-13
LAST EXTERNAL VALUATION DATE 30-Jun-20
VALUATION AT 30 JUNE 2021 $232.0m
VALUER Directors Valuation
CAPITALISATION RATE 6.75%
DISCOUNT RATE 7.25%
GROSS OFFICE RENT $854/SQM
Major Tenants NLA SQM Lease Expiry
WA Bar Chambers 6,037 Feb-31
Minter Ellison 3,439 Feb-24
Lease Expiry Profile % Income
VACANCY 21.2%
FY22 8.3%
FY23 0.5%
FY24 13.9%
FY25 3.1%
FY26 4.4%
FY27+ 48.6%
WALE 6.1 YEARS
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FY21 Mirvac Property Compendium

Investment Property Under Construction Office

LOCOMOTIVE WORKSHOP

EVELEIGH, NSW

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The adaptive re-use and redevelopment of the 1880’s-built heritage listed Locomotive Workshop includes a combination of bespoke retail, and modern infill office with innovative heritage design and interpretation. The redevelopment will comprise approximately 8,000 square metres of retail NLA and 23,000 square metres of modern infill office.

The Locomotive Workshop is of high heritage significance and as such it is intended to preserve and celebrate the building fabric, its collections and blacksmith activity to create an industry leading example of adaptive reuse and heritage interpretation.

With the exception of Bay 15, the precinct is largely complete with retail tenancies including Lucky Kwong by Kylie Kwong, Re bar – a permanent no-waste bar, Romeos Foodhall and Bodyfit Gym open to the public. The Quantium fitout achieved Practical Completion in April 2021 and staff now occupy the space. The precinct is 97% pre-leased (including non-binding Heads of Agreement), with 96% of the office space and 100% of the retail space now leased. On 5 August 2021 a 49% interest in the Locomotive Workshop was sold to Sunsuper.

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||||
|---|---|---|
|Summary Information|
|VALUATION AT 30 JUNE 2021|$149.4m|[1]|
|EXPECTED DEVELOPMENT VALUE ON COMPLETION|$472m|
|ACQUISITION DATE|Apr-16|
|TARGET COMPLETION|FY22|
|OWNERSHIP|100% Mirvac|[2]|

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This balance represents a 50% interest. During the period 50% of this asset was reclassified from Investment Property to Inventory.
Ownership as at 30 June 2021. On 5 August 2021 a 49% interest in the Locomotive Workshop was sold to Sunsuper.

FY21 Mirvac Property Compendium

Investment Property Under Construction Office

55 PITT STREET

SYDNEY, NSW

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With frontages to Pitt, Underwood and Dalley Streets, 55 Pitt Street is a development site that has the potential to deliver approximately 63,000 square metres of premium commercial and activated retail space as part of a vibrant new destination that will contribute towards the revitalisation of the iconic Circular Quay precinct.

Following a successful public exhibition of the Planning Proposal and Voluntary Planning Agreement (VPA), City of Sydney provided consent for Mirvac to commence a design excellence competition in November 2020. The design excellence competition resulted in the appointment of Shop and Woods Bagot to design the precinct in February 2021. A stage 2 DA has been lodged with the City of Sydney Council and is currently under assessment.

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|||
|---|---|
|Summary Information|
|VALUATION AT 30 JUNE 2021|$179.2m|
|EXPECTED DEVELOPMENT VALUE ON COMPLETION|TBC|
|ACQUISITION DATE|May-13|
|TARGET COMPLETION|FY26+|
|OWNERSHIP|100% Mirvac|

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Note: Image is an artist impression only.

FY21 Mirvac Property Compendium

Investment Property Under Construction Office

80 ANN STREET

BRISBANE, QLD

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80 Ann Street, recently named by the anchor tenant, Suncorp, as Heritage Lanes, is a 35 level, approximately 60,000 square metre premium office building in Brisbane’s CBD with dual frontage to Turbot and Ann Street. The building’s design provides a number of breathable spaces throughout to take advantage of the local climate and also pays homage to the old Brisbane Produce Exchange which was located on the site until the mid-1900s. This is reflected in the heritage façade fronting Turbot Street and the marketplace experience being created on the ground plane which extends through to the main lobby on Level 1.

Designed by Woods Bagot Architects, the building is targeting WELL Gold Shell and Core and 6 Star Green Star as built ratings. International Work Group (IWG) join Suncorp to take over 6,000 square metres to operate under their Spaces banner. Tenant enquiry for the balance of the commercial space is gaining momentum with a non-binding Heads Of Agreement (HoA) recently signed for levels 12 & 13, taking pre-commitments to 81%. Leasing activity for the ground floor retail tenancies has commenced with some strong enquiry and a nonbinding HoA signed with a leading retail tenancy. Practical Completion is expected in the second half of FY22.

Summary Information

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VALUATION AT 30 JUNE 2021 $203.7m [1]
EXPECTED DEVELOPMENT VALUE ON COMPLETION $856m [2]
ACQUISITION DATE Jul-18
TARGET COMPLETION FY22
OWNERSHIP 50% Mirvac, 50% M&G Real Estate
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Note: Image is an artist impression only. 1. Book value represents Mirvac ownership.

Represents 100% of expected development end value, based on cap rate sold-down.

FY21 Mirvac Property Compendium

Investment Property Office

8 CHIFLEY SQUARE SYDNEY, NSW

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8 Chifley brings to life the vision of the internationally renowned Richard Rogers of Rogers Stirk Harbour + Partners together with the Lippmann Partnership. A building for a changing world, this iconic tower pioneers the vertical village concept in Australia, delivering a flexible platform designed to support connectivity, collaboration and flexibility for its tenants. With a commitment to delivering exceptional environmental performance and sustainability, 8 Chifley has been awarded a 6 Star Green Star Office Design v2 certified rating, which represents World Leadership in environmental sustainability practices and has achieved a 5.5 Star NABERS Energy rating.

Summary Information

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GRADE Premium
NABERS RATING 5.5 Star
OWNERSHIP 50% Mirvac, 50% Keppel REIT
NLA 19,346 SQM
CAR SPACES 28
ACQUISITION DATE Dec-13
LAST EXTERNAL VALUATION DATE 31-Dec-20
VALUATION AT 30 JUNE 2021 $228.9m [1]
VALUER Directors Valuation
CAPITALISATION RATE 4.88%
DISCOUNT RATE 6.00%
GROSS OFFICE RENT $1,718/SQM
Major Tenants NLA SQM Lease Expiry
Corrs Support Services 8,079 Sep-25
Quantium Group 7,940 Sep-21
Lease Expiry Profile % Income
VACANCY 0.2%
FY22 39.9%
FY23 0.0%
FY24 17.2%
FY25 2.5%
FY26 40.2%
FY27+ 0.0%
WALE 2.3 YEARS
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Book value represents Mirvac's ownership.

FY21 Mirvac Property Compendium

Investment Property Office

DAVID MALCOLM JUSTICE CENTRE, 28 BARRACK STREET

PERTH, WA

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Developed by Mirvac and completed in late 2015, the David Malcolm Justice Centre (previously Treasury Building) is a 33 level office tower, which fronts on to Barrack Street and is immediately south of Town Hall. The property offers a vaulted multi-storey ground floor lobby, column-free floor plates and views of the Swan River above Level 4. The office tower received a 5 Star Green Star Design rating, a 6 Star Green Star Performance rating and has achieved a 5 Star NABERS Energy rating.

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Summary Information
GRADE Premium
NABERS RATING 5.0 Star
OWNERSHIP 50% Mirvac, 50% Keppel REIT
NLA 31,881 SQM
CAR SPACES 200
ACQUISITION DATE Sep-15
LAST EXTERNAL VALUATION DATE 31-Dec-20
VALUATION AT 30 JUNE 2021 $243.4m [1]
VALUER Directors Valuation
CAPITALISATION RATE 5.25%
DISCOUNT RATE 6.75%
GROSS OFFICE RENT $959/SQM
Major Tenants NLA SQM Lease Expiry
Minister for Works 30,806 Nov-40
Lease Expiry Profile % Income
VACANCY 0.0%
FY22 0.0%
FY23 0.0%
FY24 0.3%
FY25 0.0%
FY26 0.3%
FY27+ 99.4%
WALE 19.7 YEARS
----- End of picture text -----

Book value represents Mirvac's ownership.

industrial

CALIBRE, SYDNEY

Comprising 10% of Mirvac’s property portfolio, the industrial portfolio is 100% occupied with a weighted average lease expiry of 7.4 years.

Reimagine urban life

FY21 Mirvac Property Compendium

Industrial

Geographic Diversification[1]

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Sydney 100%
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% OF INDUSTRIAL
PORTFOLIO BOOK VALUATION AT
PROPERTY LOCATION NLA VALUE [2] 30 JUNE 2021 [3]
1 CALIBRE ESTATE (BUILDINGS 1-5), 60 WALLGROVE ROAD EASTERN CREEK, NSW 110,276 SQM 14.3% $146.8m
2 HOXTON DISTRIBUTION PARK HOXTON PARK, NSW 139,607 SQM 21.3% $218.0m
3 8 BRABHAM DRIVE HUNTINGWOOD, NSW 6,249 SQM 2.5% $26.0m
4 36 GOW STREET PADSTOW, NSW 20,389 SQM 4.5% $46.0m
5 NEXUS INDUSTRY PARK (BUILDINGS 1-5), LYN PARADE PRESTONS, NSW 75,791 SQM 18.2% $186.3m
6 274 VICTORIA ROAD RYDALMERE, NSW 22,734 SQM 6.2% $63.8m
7 34-38 ANZAC AVENUE SMEATON GRANGE, NSW 22,062 SQM 3.5% $36.2m
8 1-47 PERCIVAL ROAD SMITHFIELD, NSW 22,545 SQM 4.9% $49.8m
9 39 BRITTON STREET SMITHFIELD, NSW 13,390 SQM 2.9% $29.5m
10 39 HERBERT STREET ST LEONARDS, NSW 36,296 SQM 21.7% $222.6m
INDUSTRIAL INVESTMENT PROPERTIES TOTAL 469,339 SQM 100.0% $1,025.0m
11 ELIZABETH ENTERPRISE BADGERYS CREEK, NSW $134.2m
12 ASPECT KEMPS CREEK, NSW $27.3m
INDUSTRIAL INVESTMENT PROPERTIES UNDER CONSTRUCTION TOTAL $161.5m
INDUSTRIAL TOTAL 469,339 SQM 100% $1,186.5m
WEIGHTED AVERAGE LEASE EXPIRY (BY INCOME) 7.4 YEARS
OCCUPANCY % (BY AREA) 100.0%
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By book value excluding assets held in funds.
Excludes IPUC and properties being held for development.
Book values represent Mirvac’s ownership.

FY21 Mirvac Property Compendium

Investment Property Industrial

CALIBRE ESTATE (BUILDINGS 1-5), 60 WALLGROVE ROAD

EASTERN CREEK, NSW

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Calibre Industrial Estate is located in Eastern Creek, NSW, approximately 40 kilometres west of the Sydney CBD and Sydney Airport. The site is positioned on the north western corner of the M4 and M7 motorway intersection with an exclusive signalised intersection on Wallgrove Road providing excellent access to the site. The estate comprises of five modern freestanding warehouse buildings that are fully leased.

Summary Information

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OWNERSHIP 50% Mirvac, 50% MILP
NLA 110,276 SQM
CAR SPACES 559
ACQUISITION DATE Dec-16
LAST EXTERNAL VALUATION DATE 30-Jun-20
VALUATION AT 30 JUNE 2021 $146.8m [1]
VALUER Directors Valuation
CAPITALISATION RATE 4.64%
DISCOUNT RATE 5.88%
Major Tenants NLA SQM Lease Expiry
Sheldon & Hammond 31,221 Jun-28
ACFS Logistics 21,718 Jan-24
Lease Expiry Profile % Income
VACANCY 0.0%
FY22 0.0%
FY23 38.5%
FY24 21.4%
FY25 0.0%
FY26 15.1%
FY27+ 25.0%
WALE 3.7 YEARS
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Book value represents Mirvac's ownership.

FY21 Mirvac Property Compendium

Investment Property Industrial

HOXTON DISTRIBUTION PARK

HOXTON PARK, NSW

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Hoxton Distribution Park is one of Australia's largest industrial developments, located approximately 35 kilometres south-west of Sydney with excellent access to Port Botany in Sydney's south. It comprises two state-of-the-art facilities that benefit from close proximity to the M7 Westlink Motorway, a major interchange, facilitating north and south bound access to Sydney's orbital network. Both facilities are 100% leased to Woolworths Limited.

Summary Information

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OWNERSHIP 50% Mirvac, 50% JP Morgan
NLA 139,607 SQM
CAR SPACES 787
ACQUISITION DATE Jul-10
LAST EXTERNAL VALUATION DATE 30-Jun-21
VALUATION AT 30 JUNE 2021 $218.0m [1]
VALUER Knight Frank
CAPITALISATION RATE 4.09%
DISCOUNT RATE 5.34%
Major Tenants NLA SQM Lease Expiry
Woolworths 88,914 Feb-37
Woolworths 50,693 Jan-32
Lease Expiry Profile % Income
VACANCY 0.0%
FY22 0.0%
FY23 0.0%
FY24 0.0%
FY25 0.0%
FY26 0.0%
FY27+ 100.0%
WALE 13.8 YEARS
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Book value represents Mirvac's ownership.

FY21 Mirvac Property Compendium

Investment Property Industrial

8 BRABHAM DRIVE

HUNTINGWOOD, NSW

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8 Brabham Drive is an A-grade industrial logistics facility designed as a cross-dock incorporating a high clearance, column-free warehouse. On a long-term lease to specialist logistics operator BagTrans, it also features over one hectare of heavy duty, concrete hard stand areas, as well as a truck washing facility.

Summary Information

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OWNERSHIP 100%
NLA 6,249 SQM
CAR SPACES 81
ACQUISITION DATE Jan-15
LAST EXTERNAL VALUATION DATE 31-Dec-19
VALUATION AT 30 JUNE 2021 $26.0m
VALUER Directors Valuation
CAPITALISATION RATE 5.50%
DISCOUNT RATE 6.50%
Major Tenants NLA SQM Lease Expiry
BagTrans 6,249 Apr-24
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Lease Expiry Profile % Income

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VACANCY 0.0%
FY22 0.0%
FY23 0.0%
FY24 100.0%
FY25 0.0%
FY26 0.0%
FY27+ 0.0%
WALE 2.8 YEARS
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FY21 Mirvac Property Compendium

Investment Property Industrial

36 GOW STREET

PADSTOW, NSW

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36 Gow Street is a modern high clearance warehouse with high quality offices and located near the M5 Motorway, providing quick and easy access to Port Botany and the Sydney CBD.

Summary Information

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OWNERSHIP 100%
NLA 20,389 SQM
CAR SPACES 161
ACQUISITION DATE Feb-17
LAST EXTERNAL VALUATION DATE 30-Jun-21
VALUATION AT 30 JUNE 2021 $46.0m
VALUER Savills
CAPITALISATION RATE 5.00%
DISCOUNT RATE 6.25%
Major Tenants NLA SQM Lease Expiry
WSI Logistics 20,389 Aug-30
Lease Expiry Profile % Income
VACANCY 0.0%
FY22 0.0%
FY23 0.0%
FY24 0.0%
FY25 0.0%
FY26 0.0%
FY27+ 100.0%
WALE 9.2 YEARS
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FY21 Mirvac Property Compendium

Investment Property Industrial

NEXUS INDUSTRY PARK (BUILDINGS 1-5), LYN PARADE

PRESTONS, NSW

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Nexus Industry Park comprises a multi-building industrial estate consisting of five modern A grade, freestanding buildings with generous hardstands and is located on the western alignment of Lyn Parade within the established industrial precinct of Prestons, approximately 40 kilometres south-west of the Sydney CBD.

Summary Information

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OWNERSHIP 100%
NLA 75,791 SQM
CAR SPACES 604
ACQUISITION DATE Aug-04
LAST EXTERNAL VALUATION DATE 31-Dec-20
VALUATION AT 30 JUNE 2021 $186.3m
VALUER Directors Valuation
CAPITALISATION RATE 4.82%
DISCOUNT RATE 5.89%
Major Tenants NLA SQM Lease Expiry
Legrand Australia 23,356 Oct-28
De'Longhi 17,267 Feb-24
Lease Expiry Profile % Income
VACANCY 0.0%
FY22 0.0%
FY23 0.0%
FY24 21.3%
FY25 0.0%
FY26 0.0%
FY27+ 78.7%
WALE 6.4 YEARS
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FY21 Mirvac Property Compendium

Investment Property Industrial

274 VICTORIA ROAD

RYDALMERE, NSW

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274 Victoria Road is an industrial facility located two kilometres north-east of the Parramatta CBD, in close proximity to several major roads, including James Ruse Drive, the M4 Motorway, the Cumberland Highway and Parramatta Road.

Summary Information

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OWNERSHIP 100%
NLA 22,734 SQM
CAR SPACES 301
ACQUISITION DATE Jul-16
LAST EXTERNAL VALUATION DATE 30-Jun-20
VALUATION AT 30 JUNE 2021 $63.8m
VALUER Directors Valuation
CAPITALISATION RATE 4.50%
DISCOUNT RATE 6.00%
Major Tenants NLA SQM Lease Expiry
Thales Australia 22,734 Nov-32
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Lease Expiry Profile % Income

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VACANCY 0.0%
FY22 0.0%
FY23 0.0%
FY24 0.0%
FY25 0.0%
FY26 0.0%
FY27+ 100.0%
WALE 11.4 YEARS
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FY21 Mirvac Property Compendium

Investment Property Industrial

34-38 ANZAC AVENUE

SMEATON GRANGE, NSW

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Located at Smeaton Grange in Sydney's south-western growth corridor, this facility was constructed in 2008 into a multi-unit industrial estate and subdivided into six high-clearance units, combined with high quality office space. The estate is easily accessible from the Federal Highway and close to the M5/M7 junction.

Summary Information

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OWNERSHIP 100%
NLA 22,062 SQM
CAR SPACES 183
ACQUISITION DATE Jan-15
LAST EXTERNAL VALUATION DATE 31-Dec-20
VALUATION AT 30 JUNE 2021 $36.2m
VALUER Directors Valuation
CAPITALISATION RATE 5.75%
DISCOUNT RATE 6.50%
Major Tenants NLA SQM Lease Expiry
Hurford Wholesale Pty Ltd 7,356 Apr-25
Unistrut Australia Pty Ltd 3,697 Dec-21
Lease Expiry Profile % Income
VACANCY 0.0%
FY22 34.7%
FY23 16.3%
FY24 16.5%
FY25 32.5%
FY26 0.0%
FY27+ 0.0%
WALE 2.2 YEARS
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FY21 Mirvac Property Compendium

Investment Property Industrial

1-47 PERCIVAL ROAD

SMITHFIELD, NSW

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1-47 Percival Street is an industrial development comprising multiple warehouses leased to three key tenants which fronts the Cumberland Highway at Smithfield with direct access to the M4 Motorway.

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Summary Information
OWNERSHIP 100%
NLA 22,545 SQM
CAR SPACES 275
ACQUISITION DATE Nov-02
LAST EXTERNAL VALUATION DATE 31-Dec-20
VALUATION AT 30 JUNE 2021 $49.8m
VALUER Directors Valuation
CAPITALISATION RATE 5.00%
DISCOUNT RATE 6.25%
Major Tenants NLA SQM Lease Expiry
Vulcan Steel Pty Ltd 12,115 Jun-34
Clark Equipment Sales 5,437 Feb-24
Lease Expiry Profile % Income
VACANCY 0.0%
FY22 0.0%
FY23 0.0%
FY24 21.0%
FY25 24.5%
FY26 0.0%
FY27+ 54.5%
WALE 8.4 YEARS
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FY21 Mirvac Property Compendium

Investment Property Industrial

39 BRITTON STREET

SMITHFIELD, NSW

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Developed in 1998, 39 Britton Street is a high clearance standalone warehouse with six loading docks and six on-grade roller doors plus an adjoining two-storey office and amenities block. The property is well positioned to major infrastructure, being approximately one kilometre from the Cumberland Highway and five kilometres to the M4 Motorway providing easy access to Port Botany and the Sydney CBD.

Summary Information

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OWNERSHIP 100%
NLA 13,390 SQM
CAR SPACES 35
ACQUISITION DATE Jan-15
LAST EXTERNAL VALUATION DATE 30-Jun-21
VALUATION AT 30 JUNE 2021 $29.5m
VALUER Colliers
CAPITALISATION RATE 4.75%
DISCOUNT RATE 6.00%
Major Tenants NLA SQM Lease Expiry
Tyres 4u 13,390 Jul-28
Lease Expiry Profile % Income
VACANCY 0.0%
FY22 0.0%
FY23 0.0%
FY24 0.0%
FY25 0.0%
FY26 0.0%
FY27+ 100.0%
WALE 7.1 YEARS
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FY21 Mirvac Property Compendium

Investment Property Industrial

39 HERBERT STREET

ST LEONARDS, NSW

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39 Herbert Street is a high quality 3.7 hectare business park on Sydney's lower North Shore, located three kilometres from North Sydney CBD, six kilometres from the Sydney CBD in close proximity to St Leonards train station. It comprises two commercial buildings, 21 industrial/warehouse/office units as well as a childcare centre and a multi-storey carpark.

Summary Information

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OWNERSHIP 100%
NLA 36,296 SQM
CAR SPACES 625
ACQUISITION DATE Jan-15
LAST EXTERNAL VALUATION DATE 30-Jun-20
VALUATION AT 30 JUNE 2021 $222.6m
VALUER Directors Valuation
CAPITALISATION RATE 5.28%
DISCOUNT RATE 6.61%
Major Tenants NLA SQM Lease Expiry
Interactive 12,897 Nov-30
Arrow ECS 2,785 Jun-24
Lease Expiry Profile % Income
VACANCY 0.0%
FY22 7.9%
FY23 4.2%
FY24 15.0%
FY25 4.0%
FY26 12.3%
FY27+ 56.6%
WALE 6.1 YEARS
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FY21 Mirvac Property Compendium

Investment Property Under Construction Industrial

ELIZABETH ENTERPRISE

BADGERYS CREEK, NSW

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Mirvac entered into an agreement in August 2018 to acquire Stage 1 of a future 244-hectare industrial estate at Badgery’s Creek with Stage 2 (52 hectares) being acquired in April 2021.

Located 800 meters from the proposed Western Sydney airport and eight kilometers from the M7 motorway, Elizabeth Enterprise is expected to benefit from its proximity to approximately $20 billion in infrastructure improvements in the Western Sydney area, including the new Western Sydney Airport, proposed M12 Motorway and North South rail line.

Stage 1 and 2 were rezoned in September 2020 as part of Tranche 5 of the NSW Planning Acceleration Protocol.

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|||
|---|---|
|Summary Information|
|VALUATION AT 30 JUNE 2021|$134.2m|
|EXPECTED DEVELOPMENT VALUE ON COMPLETION|TBC|
|ACQUISITION DATE|Apr-21|
|TARGET COMPLETION|FY23+|
|OWNERSHIP|100% Mirvac|

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Note: Image is an artist impression only.

FY21 Mirvac Property Compendium

Investment Property Under Construction Industrial

ASPECT

KEMPS CREEK, NSW

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Aspect Industrial Estate is a 56 hectare site located with direct frontage to Mamre Road in the Mamre Road precinct, identified as the logical extension of the existing Western Sydney Employment (WSEA) lands and set to benefit from the planned $220 million upgrade to Mamre Road.

Rezoning of the precinct was achieved in June 2020 with rezoning of the Mamre Road precinct included in the second Tranche of NSW Planning Acceleration Protocol. The draft development control plan and associated strategic planning documentation is in the process of being finalised for the Mamre Road precinct.

A State Significant Development Application (SSD) was submitted in November 2020 after extensive consultation with authorities.

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|||
|---|---|
|Summary Information|
|VALUATION AT 30 JUNE 2021|$27.3m|
|EXPECTED DEVELOPMENT VALUE ON COMPLETION|TBC|
|ACQUISITION DATE|Dec-19|
|TARGET COMPLETION|FY23+|
|OWNERSHIP|100% Mirvac|

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Note: Image is an artist impression only.

industrialretail

TOOMBUL, BRISBANE

Comprising 25% of Mirvac’s property portfolio, the retail portfolio is 98.0% occupied with 65% of the portfolio located in metropolitan Sydney.

Reimagine urban life

FY21 Mirvac Property Compendium

Retail

Grade Diversification[1]

Geographic Diversification[1]

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Regional 43%
NSW 65%
Sub regional 23%
QLD 30%
Outlet 12%
VIC 3%
CBD Retail 11%
ACT 2%
Neighbourhood 11%
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% OF RETAIL
PORTFOLIO BOOK CENTRE VALUATION AT
PROPERTY LOCATION GLA [2] VALUE MAT [3] 30 JUNE 2021 [4]
1 BIRKENHEAD POINT BRAND OUTLET DRUMMOYNE, NSW 33,263 SQM 12.5% $269.2m $394.3m
2 BROADWAY SYDNEY GLEBE, NSW 52,595 SQM 13.3% $583.5m $420.8m
3 EAST VILLAGE ZETLAND, NSW 32,987 SQM 9.6% $161.3m $302.0m
4 GREENWOOD PLAZA NORTH SYDNEY, NSW 9,057 SQM 2.8% $45.3m $89.0m
5 METCENTRE SYDNEY, NSW 6,407 SQM 1.9% $32.8m $60.0m
6 RHODES WATERSIDE RHODES, NSW 34,849 SQM 5.5% $207.6m $175.0m
7 SOUTH VILLAGE SHOPPING CENTRE KIRRAWEE, NSW 14,030 SQM 3.2% $133.2m $102.0m
8 STANHOPE VILLAGE STANHOPE GARDENS, NSW 17,941 SQM 4.5% $176.1m $142.0m
9 TRAMSHEDS SYDNEY HAROLD PARK, NSW 5,953 SQM 1.1% $50.1m $34.0m
10 KAWANA SHOPPINGWORLD BUDDINA, QLD 45,337 SQM 5.9% $326.8m $186.0m
11 ORION SPRINGFIELD CENTRAL SPRINGFIELD, QLD 71,568 SQM 14.2% $447.6m $449.7m
12 TOOMBUL NUNDAH, QLD 46,413 SQM 9.6% $239.1m $303.0m
13 MOONEE PONDS CENTRAL MOONEE PONDS, VIC 19,028 SQM 3.2% $148.4m $100.0m
14 COOLEMAN COURT WESTON, ACT 10,401 SQM 2.2% $128.9m $69.0m
RETAIL INVESTMENT PROPERTIES TOTAL 399,829 SQM 95.8% [5] $3,026.8m [5]
15 CHERRYBROOK VILLAGE CHERRYBROOK, NSW 9,740 SQM 4.2% $120.6m $132.8m
RETAIL ASSETS CLASSIFIED AS HELD FOR SALE TOTAL 9,740 SQM 4.2% $132.8m
RETAIL TOTAL 409,569 SQM 100% [5] $3,159.6m [5]
WEIGHTED AVERAGE LEASE EXPIRY (BY INCOME) 3.6 YEARS
OCCUPANCY % (BY AREA) 98.0%
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By book value, including properties being held sale and held for development.
GLA excludes 80 Bay Street & 1-3 Smail Street, Ultimo.
12 months to 30 June 2021, in accordance with SCCA guidelines.
Book values represent Mirvac’s ownership. Total portfolio value excludes the gross up of lease liabilities under AASB 16. Subject to rounding.
This total value includes Harbourside, Sydney valued at $200.0m, which is being held for development. This asset is excluded from all other metrics. Subject to rounding.

FY21 Mirvac Property Compendium

Investment Property Retail

BIRKENHEAD POINT BRAND OUTLET

DRUMMOYNE, NSW

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Birkenhead Point Brand Outlet is situated five kilometres from the Sydney CBD on a prime 3.7-hectare waterfront site. The asset incorporates a premium outlet centre complemented by a convenience-based retail offering anchored by Coles and ALDI, with approximately 150 specialty tenancies. The centre features a range of quality brands including Armani, Bally, Coach, Michael Kors, Nike, Polo Ralph Lauren and Peter's of Kensington. The centre also incorporates over 3,500 square metres of commercial office suites and a marina with approximately 200 berths.

Summary Information

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CLASSIFICATION OUTLET CENTRE
OWNERSHIP 100%
GLA 33,263 SQM
CAR SPACES 1,351
ACQUISITION DATE Dec-14
LAST EXTERNAL VALUATION DATE 30-Jun-21
VALUATION AT 30 JUNE 2021 $394.3m [1]
VALUER Savills
CAPITALISATION RATE 5.50% [2]
DISCOUNT RATE 6.50% [2]
CENTRE MAT $269.2m
SPECIALTY OCCUPANCY COSTS 12.7% [3]
SPECIALTY SALES $9,421/sqm [4]
Major Tenants GLA SQM Lease Expiry
Coles 2,692 Nov-26
Spotlight 1,796 Sep-26
ALDI 1,448 Nov-25
Peter's of Kensington 1,132 Jan-23
Lease Expiry Profile % Income
VACANCY 2.3%
FY22 30.3%
FY23 28.5%
FY24 14.5%
FY25 10.3%
FY26 4.2%
FY27+ 9.9%
WALE 2.0 YEARS
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Includes Marina operating business (owned by Mirvac Limited) and nearby property 64 Roseby St, Drummoyne.
Relates to retail component only.
Includes contracted COVID-19 tenant support.
In line with SCCA guidelines, adjusted for tenant closures during COVID-19 impacted period.

FY21 Mirvac Property Compendium

Investment Property Retail

BROADWAY SYDNEY

GLEBE, NSW

==> picture [194 x 133] intentionally omitted <==

This dominant centre is located on the fringe of the Sydney CBD and services the densely populated and growing catchment of Sydney's inner city and inner west. The centre is anchored by Coles, Kmart, Target, Hoyts, ALDI, Apple, H&M, Mecca, Sephora and approximately 130 specialty stores.

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Summary Information
CLASSIFICATION REGIONAL
OWNERSHIP 50% Mirvac, 50% Perron
GLA 52,595 SQM
CAR SPACES 1,665
ACQUISITION DATE Jan-07
LAST EXTERNAL VALUATION DATE 31-Dec-20
VALUATION AT 30 JUNE 2021 $420.8m [1]
VALUER Directors Valuation
CAPITALISATION RATE 4.75% [2]
DISCOUNT RATE 6.25% [2]
CENTRE MAT $583.5m
SPECIALTY OCCUPANCY COSTS 17.8% [3]
SPECIALTY SALES $12,473/sqm [4]
Major Tenants GLA SQM Lease Expiry
Kmart 7,394 Mar-23
Hoyts 4,857 Jul-28
Target 4,721 Apr-27
Coles 4,122 Jul-24
H&M 2,475 Aug-31
Lease Expiry Profile % Income
VACANCY 2.2%
FY22 32.8%
FY23 17.8%
FY24 10.4%
FY25 11.6%
FY26 5.1%
FY27+ 20.1%
WALE 2.7 YEARS
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Book value represents Mirvac's ownership. Also includes adjoining properties 52-60 Francis St, Glebe; 80 Bay Street, Ultimo and 1-3 Smail Street, Ultimo.
Relates to retail component only.
Includes contracted COVID-19 tenant support.
In line with SCCA guidelines, adjusted for tenant closures during COVID-19 impacted period.

FY21 Mirvac Property Compendium

Investment Property Retail

EAST VILLAGE

ZETLAND, NSW

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East Village is an award-winning mixed-use retail centre that opened in October 2014, located three kilometres south of the Sydney CBD in the rapidly densifying urban renewal area of Zetland. The centre is anchored by Coles, an Audi Service Centre and Virgin Active Health Club with over 50 specialty stores. The centre ranked “Number 1” in Australia, in Shopping Centre News Little Guns Awards for annual turnover per square metre, five years in a row (2016-2020) and is set to benefit from strong forecast population growth in its catchment.

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Summary Information
CLASSIFICATION SUB REGIONAL
OWNERSHIP 100%
GLA 32,987 SQM
CAR SPACES 671
ACQUISITION DATE Jul 16 (49.9%) Aug 17 (50.1%)
LAST EXTERNAL VALUATION DATE 31-Dec-20
VALUATION AT 30 JUNE 2021 $302.0m
VALUER Directors Valuation
CAPITALISATION RATE 5.25%
DISCOUNT RATE 7.00%
CENTRE MAT $161.3m
SPECIALTY OCCUPANCY COSTS 14.5% [1]
SPECIALTY SALES $10,020/sqm [2]
Major Tenants GLA SQM Lease Expiry
Audi Australia Retail 13,172 Oct-34
Virgin Active 4,835 Nov-34
Coles 4,015 Oct-34
East Phoenix 1,280 Dec-26
Montessori Academy 1,173 Dec-26
Lease Expiry Profile % Income
VACANCY 1.1%
FY22 17.0%
FY23 6.8%
FY24 2.7%
FY25 16.0%
FY26 11.6%
FY27+ 44.8%
WALE 5.8 YEARS
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Includes contracted COVID-19 tenant support.
In line with SCCA guidelines, adjusted for tenant closures during COVID-19 impacted period.

FY21 Mirvac Property Compendium

Investment Property Retail

GREENWOOD PLAZA

NORTH SYDNEY, NSW

==> picture [188 x 131] intentionally omitted <==

Greenwood Plaza is a three-level centre at the base of Mirvac's iconic 101-103 Miller Street office tower, providing a major pedestrian thoroughfare to the busy North Sydney train station. The asset services the growing North Sydney CBD and has over 90 specialty retail and service outlets, including Romeo's IGA supermarket.

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Summary Information
CLASSIFICATION CBD RETAIL
OWNERSHIP 50% Mirvac, 50% Nuveen
GLA 9,057 SQM
CAR SPACES 347
ACQUISITION DATE Jun-94
LAST EXTERNAL VALUATION DATE 30-Jun-20
VALUATION AT 30 JUNE 2021 $89.0m [1]
VALUER Directors Valuation
CAPITALISATION RATE 5.75%
DISCOUNT RATE 6.50%
CENTRE MAT $45.3m
SPECIALTY OCCUPANCY COSTS 25.1% [2]
SPECIALTY SALES $5,668/sqm [3]
Major Tenants GLA SQM Lease Expiry
Greenwood Hotel 856 Apr-26
IGA Romeo's 864 Feb-31
Lease Expiry Profile % Income
VACANCY 7.4%
FY22 16.6%
FY23 22.6%
FY24 21.2%
FY25 11.0%
FY26 9.4%
FY27+ 11.8%
WALE 2.7 YEARS
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Book value represents Mirvac's ownership and includes the 101-103 Miller St car park.
Includes contracted COVID-19 tenant support.
In line with SCCA guidelines, adjusted for tenant closures during COVID-19 impacted period.

FY21 Mirvac Property Compendium

Investment Property Retail

METCENTRE

SYDNEY, NSW

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MetCentre is located at the base of 60 Margaret Street in Sydney and adjoins Wynyard train station, providing a major pedestrian thoroughfare for many CBD workers and visitors. The Centre has excellent exposure to George Street, as well as entrances on Margaret and Jamison Streets and benefits from the recently completed light rail project. The centre is anchored by a Woolworths supermarket and has approximately 75 specialty stores, including a significant food offering.

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Summary Information
CLASSIFICATION CBD RETAIL
OWNERSHIP 50% Mirvac, 50% Blackstone
GLA 6,407 SQM
CAR SPACES -
ACQUISITION DATE Aug-98
LAST EXTERNAL VALUATION DATE 30-Jun-21
VALUATION AT 30 JUNE 2021 $60.0m [1]
VALUER CBRE
CAPITALISATION RATE 5.75%
DISCOUNT RATE 6.50%
CENTRE MAT $32.8m
SPECIALTY OCCUPANCY COSTS 32.6% [2]
SPECIALTY SALES $5,768/sqm [3]
Major Tenants GLA SQM Lease Expiry
Woolworths 1,486 Aug-29
Lease Expiry Profile % Income
VACANCY 10.6%
FY22 31.6%
FY23 5.9%
FY24 7.7%
FY25 11.6%
FY26 7.1%
FY27+ 25.5%
WALE 2.8 YEARS
----- End of picture text -----

Book value represents Mirvac's ownership.
Includes contracted COVID-19 tenant support.
In line with SCCA guidelines, adjusted for tenant closures during COVID-19 impacted period.

FY21 Mirvac Property Compendium

Investment Property Retail

RHODES WATERSIDE

RHODES, NSW

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Rhodes Waterside is co-located with IKEA in the significant Rhodes residential and office precinct. Major retailers include Coles, ALDI, Kmart, Bing Lee and Reading Cinemas in addition to over 100 specialty stores. The centre features a strong dining offering and has seen significant growth through catchment population expansion, remixing and customer-focussed initiatives.

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Summary Information
CLASSIFICATION REGIONAL
OWNERSHIP 50% Mirvac, 50% Perron
GLA 34,849 SQM
CAR SPACES 2,414
ACQUISITION DATE Jan-07
LAST EXTERNAL VALUATION DATE 30-Jun-21
VALUATION AT 30 JUNE 2021 $175.0m [1]
VALUER JLL
CAPITALISATION RATE 5.50%
DISCOUNT RATE 6.25%
CENTRE MAT $207.6m
SPECIALTY OCCUPANCY COSTS 18.8% [2]
SPECIALTY SALES $8,181/sqm [3]
Major Tenants GLA SQM Lease Expiry
Reading Cinemas 4,122 Mar-30
Kmart 3,795 Nov-24
Coles 3,497 Dec-19 [4]
ALDI 1,597 Jul-33
Bing Lee 1,022 Feb-25
Lease Expiry Profile % Income
VACANCY 1.9%
FY22 33.4%
FY23 18.2%
FY24 10.5%
FY25 13.2%
FY26 10.8%
FY27+ 12.0%
WALE 2.6 YEARS
----- End of picture text -----

Book value represents Mirvac's ownership.
Includes contracted COVID-19 tenant support.
In line with SCCA guidelines, adjusted for tenant closures during COVID-19 impacted period.
Exercised 10 year option and have recently refurbished the store.

FY21 Mirvac Property Compendium

Investment Property Retail

SOUTH VILLAGE SHOPPING CENTRE

KIRRAWEE, NSW

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South Village Shopping Centre is a recently developed neighbourhood centre which is part of a broader mixed-use project incorporating approximately 750 residential apartments and a significant public park. The centre is located in Kirrawee, 25 kilometres south of Sydney, and is serviced by nearby public transport and the Princes Highway. The centre is anchored by Coles and ALDI, with other key uses including dining, fresh food and services, with over 30 specialty stores.

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Summary Information
CLASSIFICATION NEIGHBOURHOOD
OWNERSHIP 100%
GLA 14,030 SQM
CAR SPACES 541
ACQUISITION DATE Oct 16 (50%) Jun 17 (50%)
LAST EXTERNAL VALUATION DATE 30-Jun-21
VALUATION AT 30 JUNE 2021 $102.0m
VALUER Savills
CAPITALISATION RATE 5.50%
DISCOUNT RATE 6.25%
CENTRE MAT $133.2m
SPECIALTY OCCUPANCY COSTS 10.5% [1]
SPECIALTY SALES $8,582/sqm [2]
Major Tenants GLA SQM Lease Expiry
Coles 4,501 Nov-38
ALDI 1,518 Nov-28
Panetta Mercato 982 Dec-30
Lease Expiry Profile % Income
VACANCY 3.0%
FY22 1.4%
FY23 0.0%
FY24 10.0%
FY25 3.0%
FY26 7.6%
FY27+ 75.0%
WALE 9.1 YEARS
----- End of picture text -----

Includes contracted COVID-19 tenant support.
In line with SCCA guidelines, adjusted for tenant closures during COVID-19 impacted period.

FY21 Mirvac Property Compendium

Investment Property Retail

STANHOPE VILLAGE

STANHOPE GARDENS, NSW

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Developed by Mirvac in the rapidly growing north-west corridor of Sydney, Stanhope Village is conveniently situated adjacent to the area's busy leisure centre and pool facility. Stanhope Village was expanded in 2015 and is anchored by Coles, Kmart and ALDI with approximately 75 specialty stores.

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Summary Information
CLASSIFICATION SUB REGIONAL
OWNERSHIP 100%
GLA 17,941 SQM
CAR SPACES 736
ACQUISITION DATE Nov-03
LAST EXTERNAL VALUATION DATE 30-Jun-21
VALUATION AT 30 JUNE 2021 $142.0m
VALUER Cushman & Wakefield
CAPITALISATION RATE 5.75%
DISCOUNT RATE 7.00%
CENTRE MAT $176.1m
SPECIALTY OCCUPANCY COSTS 11.5% [1]
SPECIALTY SALES $10,402/sqm [2]
Major Tenants GLA SQM Lease Expiry
Kmart 5,060 Mar-22
Coles 3,500 Nov-28
ALDI 1,329 Aug-28
Lease Expiry Profile % Income
VACANCY 1.0%
FY22 34.7%
FY23 9.3%
FY24 11.7%
FY25 10.3%
FY26 11.4%
FY27+ 21.6%
WALE 3.0 YEARS
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Includes contracted COVID-19 tenant support.
In line with SCCA guidelines, adjusted for tenant closures during COVID-19 impacted period.

FY21 Mirvac Property Compendium

Investment Property Retail

TRAMSHEDS SYDNEY

HAROLD PARK, NSW

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Tramsheds Sydney is an iconic restoration and reimagining of the historic former tram depot at Harold Park in Sydney's inner-west. Supported by an affluent urban catchment, including residents of the 1,300 new dwellings within Mirvac's Harold Park residential development, Tramsheds Sydney offers an eclectic mix of reputable Sydney eateries, in addition to a local supermarket and services in a bespoke heritage setting.

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Summary Information
CLASSIFICATION NEIGHBOURHOOD
OWNERSHIP 100%
GLA 5,953 SQM
CAR SPACES 141
ACQUISITION DATE Oct-15
LAST EXTERNAL VALUATION DATE 31-Dec-20
VALUATION AT 30 JUNE 2021 $34.0m
VALUER Directors Valuation
CAPITALISATION RATE 5.50%
DISCOUNT RATE 7.00%
CENTRE MAT $50.1m
SPECIALTY OCCUPANCY COSTS 12.1% [1]
SPECIALTY SALES $8,237/sqm [2]
Major Tenants GLA SQM Lease Expiry
Supamart 2,440 Sep-31
The Butcher and Farmer 536 Sep-26
Lease Expiry Profile % Income
VACANCY 0.0%
FY22 23.2%
FY23 0.1%
FY24 16.3%
FY25 6.0%
FY26 0.0%
FY27+ 54.4%
WALE 5.2 YEARS
----- End of picture text -----

Includes contracted COVID-19 tenant support.
In line with SCCA guidelines, adjusted for tenant closures during COVID-19 impacted period.

FY21 Mirvac Property Compendium

Investment Property Retail

KAWANA SHOPPINGWORLD

BUDDINA, QLD

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Located one hour north of Brisbane in the growing lifestyle region of the Sunshine Coast, Kawana Shoppingworld is a dominant convenience and lifestyle centre. The centre incorporates Woolworths, Coles, ALDI, Big W, six mini-majors and approximately 150 specialty stores. The centre successfully launched Event Cinemas and an expanded dining precinct in late 2018, introducing the first Gold Class theatres on the Sunshine Coast in response to significant customer demand.

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Summary Information
CLASSIFICATION SUB REGIONAL
OWNERSHIP 50% Mirvac, 50% ISPT
GLA 45,337 SQM
CAR SPACES 1,990
ACQUISITION DATE Dec 93 (50%) Jun 98 (50%) Dec 17 (-50%)
LAST EXTERNAL VALUATION DATE 30-Jun-21
VALUATION AT 30 JUNE 2021 $186.0m [1]
VALUER Savills
CAPITALISATION RATE 5.75%
DISCOUNT RATE 6.75%
CENTRE MAT $326.8m
SPECIALTY OCCUPANCY COSTS 13.7% [2]
SPECIALTY SALES $9,020/sqm [3]
Major Tenants GLA SQM Lease Expiry
Big W 8,383 Jun-21
Event Cinemas 5,865 Jul-34
Woolworths 3,648 Nov-29
Coles 3,351 Oct-27
ALDI 1,753 Jul-24
Lease Expiry Profile % Income
VACANCY 2.3%
FY22 43.7%
FY23 9.5%
FY24 9.0%
FY25 10.9%
FY26 4.4%
FY27+ 20.2%
WALE 3.0 YEARS
----- End of picture text -----

Book value represents Mirvac's ownership.
Includes contracted COVID-19 tenant support.
In line with SCCA guidelines, adjusted for tenant closures during COVID-19 impacted period.

FY21 Mirvac Property Compendium

Investment Property Retail

ORION SPRINGFIELD CENTRAL

SPRINGFIELD, QLD

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Located in Springfield, the rapidly growing masterplanned city, Orion Springfield Central was developed by Mirvac in March 2007 and underwent a major expansion that was completed in March 2016. The latest development introduced an expanded casual dining, fashion and entertainment offer to position the centre as the dominant retail offer in its catchment. The centre is anchored by Woolworths, Coles, ALDI, Target, Big W and Event Cinemas with over 150 specialty stores and 11 pad sites, with significant land holdings for future expansion.

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Summary Information
CLASSIFICATION REGIONAL
OWNERSHIP 100%
GLA 71,568 SQM
CAR SPACES 3,200
ACQUISITION DATE Aug-02
LAST EXTERNAL VALUATION DATE 30-Jun-20
VALUATION AT 30 JUNE 2021 $449.7m [1]
VALUER Directors Valuation
CAPITALISATION RATE 5.25%
DISCOUNT RATE 6.75%
CENTRE MAT $447.6m
SPECIALTY OCCUPANCY COSTS 11.3% [2]
SPECIALTY SALES $9,386/sqm [3]
Major Tenants GLA SQM Lease Expiry
Big W 7,988 Mar-27
Target 6,021 Nov-30
Event Cinemas 5,801 Jun-31
Coles 5,618 Oct-30
Woolworths 4,471 Mar-27
Lease Expiry Profile % Income
VACANCY 1.4%
FY22 23.6%
FY23 13.7%
FY24 14.0%
FY25 9.0%
FY26 9.9%
FY27+ 28.4%
WALE 3.8 YEARS
----- End of picture text -----

Includes sundry vacant land.
Includes contracted COVID-19 tenant support.
In line with SCCA guidelines, adjusted for tenant closures during COVID-19 impacted period.

FY21 Mirvac Property Compendium

Investment Property Retail

TOOMBUL

NUNDAH, QLD

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Toombul is located in a growing inner urban area of Brisbane, just seven kilometres from Brisbane's CBD and six kilometres from Brisbane Airport. The centre benefits from excellent accessibility via major roadways as well as rail and bus links. Toombul has approximately 46,000 square metres of gross lettable area comprising Coles, ALDI, Kmart, Target, BCC Cinemas, Bunnings Warehouse and approximately 150 specialty stores and kiosks. Since Mirvac’s acquisition in 2016 the centre has been progressively remixed and upgraded, with the latest development of an alfresco dining and entertainment precinct which was completed late 2019.

Summary Information

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CLASSIFICATION REGIONAL
OWNERSHIP 100%
GLA 46,413 SQM
CAR SPACES 1,931
ACQUISITION DATE Jun-16
LAST EXTERNAL VALUATION DATE 31-Dec-20
VALUATION AT 30 JUNE 2021 $303.0m [1]
VALUER Directors Valuation
CAPITALISATION RATE 5.75%
DISCOUNT RATE 7.00%
CENTRE MAT $239.1m
SPECIALTY OCCUPANCY COSTS 13.9% [2]
SPECIALTY SALES $8,783/sqm [3]
Major Tenants GLA SQM Lease Expiry
Kmart 6,725 Feb-27
Target 6,582 Oct-26
Coles 3,589 May-32
Bunnings 3,033 Jul-21
BCC Cinemas 2,664 Feb-28
Lease Expiry Profile % Income
VACANCY 2.8%
FY22 19.2%
FY23 15.6%
FY24 12.6%
FY25 8.8%
FY26 3.8%
FY27+ 37.2%
WALE 4.0 YEARS
----- End of picture text -----

Includes sundry vacant land.
Includes contracted COVID-19 tenant support.
In line with SCCA guidelines, adjusted for tenant closures during COVID-19 impacted period.

FY21 Mirvac Property Compendium

Investment Property Retail

MOONEE PONDS CENTRAL

MOONEE PONDS, VIC

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Moonee Ponds Central is located seven kilometres north of the Melbourne CBD and conveniently connected to the busy Puckle Street retail strip. Moonee Ponds is currently undergoing strong population growth and densification in the immediate catchment, with the centre well positioned to benefit. The centre was most recently expanded in 2009 and comprises Kmart, Coles and an ALDI Supermarket, as well as over 60 specialty stores. A new outdoor dining offer was launched in 2019 which services the residents of nearly 1,500 new apartments.

Summary Information

==> picture [487 x 349] intentionally omitted <==

----- Start of picture text -----

CLASSIFICATION SUB REGIONAL
OWNERSHIP 100%
GLA 19,028 SQM
CAR SPACES 887
ACQUISITION DATE May 03 & Feb 08
LAST EXTERNAL VALUATION DATE 31-Dec-20
VALUATION AT 30 JUNE 2021 $100.0m
VALUER Directors Valuation
CAPITALISATION RATE 6.00%
DISCOUNT RATE 6.75%
CENTRE MAT $148.4m
SPECIALTY OCCUPANCY COSTS 12.9% [1]
SPECIALTY SALES $8,473/sqm [2]
Major Tenants GLA SQM Lease Expiry
Kmart 4,728 Mar-24
Coles 4,000 Mar-30
ALDI 1,221 Mar-23
Lease Expiry Profile % Income
VACANCY 2.7%
FY22 12.0%
FY23 17.9%
FY24 24.5%
FY25 11.7%
FY26 4.8%
FY27+ 26.4%
WALE 3.5 YEARS
----- End of picture text -----

Includes contracted COVID-19 tenant support.
In line with SCCA guidelines, adjusted for tenant closures during COVID-19 impacted period.

FY21 Mirvac Property Compendium

Investment Property Retail

COOLEMAN COURT

WESTON, ACT

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Cooleman Court is a convenience-based neighbourhood centre located in the Canberra suburb of Weston Creek, approximately 9 kilometres south-west of the Canberra CBD. The centre has two supermarkets, Woolworths and ALDI, and approximately 40 specialty stores. The new residential area of Molonglo Valley is currently being developed a few kilometres from Cooleman Court and is expected to positively impact the centre.

==> picture [487 x 347] intentionally omitted <==

----- Start of picture text -----

Summary Information
CLASSIFICATION NEIGHBOURHOOD
OWNERSHIP 100%
GLA 10,401 SQM
CAR SPACES 514
ACQUISITION DATE Dec-09
LAST EXTERNAL VALUATION DATE 30-Jun-20
VALUATION AT 30 JUNE 2021 $69.0m
VALUER Directors Valuation
CAPITALISATION RATE 6.25%
DISCOUNT RATE 7.00%
CENTRE MAT $128.9m
SPECIALTY OCCUPANCY COSTS 13.7% [1]
SPECIALTY SALES $7,437/sqm [2]
Major Tenants GLA SQM Lease Expiry
Woolworths 2,867 Aug-31
ALDI 1,548 Jan-24
Lease Expiry Profile % Income
VACANCY 5.2%
FY22 17.3%
FY23 11.6%
FY24 21.3%
FY25 9.1%
FY26 3.2%
FY27+ 32.3%
WALE 4.5 YEARS
----- End of picture text -----

Includes contracted COVID-19 tenant support.
In line with SCCA guidelines, adjusted for tenant closures during COVID-19 impacted period.

FY21 Mirvac Property Compendium

Investment Property Held for Sale Retail

CHERRYBROOK VILLAGE

CHERRYBROOK, NSW

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Located in north-west Sydney, Cherrybrook Village was extensively refurbished and expanded in 2004. Significant remixing and car park works were undertaken in 2018 to improve customer convenience and amenity. This single level neighbourhood centre is anchored by a Woolworths supermarket, in addition to approximately 55 specialty tenancies, including a strong fresh food precinct and local café and dining precinct. Cherrybrook Village was classified as held for sale as at 30 June 2021. Contracts for sale were exchanged in June 2021 and the transaction is expected to settle in 1H22.

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----- Start of picture text -----

Summary Information
CLASSIFICATION NEIGHBOURHOOD
OWNERSHIP 100%
GLA 9,740 SQM
CAR SPACES 441
ACQUISITION DATE Dec-09
LAST EXTERNAL VALUATION DATE 30-Jun-20
VALUATION AT 30 JUNE 2021 $132.8m
VALUER Held for Sale
CAPITALISATION RATE n/a
DISCOUNT RATE n/a
CENTRE MAT $120.6m
SPECIALTY OCCUPANCY COSTS 12.7% [1]
SPECIALTY SALES $10,499/sqm [2]
Major Tenants GLA SQM Lease Expiry
Woolworths 3,832 Mar-25
Martelli's Fruit Market 682 Aug-22
Lease Expiry Profile % Income
VACANCY 0.7%
FY22 22.3%
FY23 14.3%
FY24 12.9%
FY25 22.6%
FY26 8.9%
FY27+ 18.3%
WALE 2.9 YEARS
----- End of picture text -----

Includes contracted COVID-19 tenant support.
In line with SCCA guidelines, adjusted for tenant closures during COVID-19 impacted period.

indusbuild o rent t rial

==> picture [73 x 7] intentionally omitted <==

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LIV INDIGO, SYDNEY
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Build to Rent currently represents 3% of Mirvac’s property portfolio, and will see Mirvac developing and managing residential communities in sought-after city locations. Mirvac’s flagship build to rent property, LIV Indigo, Sydney Olympic Park opened in September 2020.

Reimagine urban life

FY21 Mirvac Property Compendium

Build to Rent

Geographic Diversification[1]

==> picture [255 x 150] intentionally omitted <==

----- Start of picture text -----

Sydney 100%
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==> picture [470 x 150] intentionally omitted <==

----- Start of picture text -----

% OF BTR
PORTFOLIO BOOK VALUATION AT
PROPERTY LOCATION VALUE [2] 30 JUNE 2021 [3]
1 LIV Indigo SYDNEY OLYMPIC PARK, NSW 100.0% $220.3m
BTR INVESTMENT PROPERTIES TOTAL 100.0% $220.3m
2 LIV Albert Fields MELBOURNE, VIC $24.6m
3 LIV Munro MELBOURNE, VIC $102.6m
4 LIV Anura BRISBANE, QLD $22.5m
BTR INVESTMENT PROPERTIES UNDER CONSTUCTION TOTAL $149.7m
BUILD TO RENT TOTAL 100.0% $370.0m
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By book value, excluding IPUC and properties being held for development.
Excludes IPUC and properties being held for development.
Book values represent Mirvac’s ownership.

FY21 Mirvac Property Compendium

Investment Property Build to Rent

LIV INDIGO

SYDNEY OLYMPIC PARK, NSW

==> picture [257 x 267] intentionally omitted <==

LIV Indigo is located in Sydney Olympic Park, conveniently located in the middle ring of Sydney, approximately 16 kilometres from the Sydney CBD and eight kilometres to the Parramatta CBD. The property is located within walking distance of the future planned Metro station.

The property provides a mix of 315 quality one, two and three-bedroom apartments built and designed exclusively for renters. It boasts unparalleled amenity, including a resident amenities floor which houses co-working and meeting spaces, a gaming and cinema room, a demonstration-style chefs' kitchen and bar with entertaining areas for dining, BBQ space, virtual fitness and open plan function space with connected outdoor terraces, a gym and outdoor landscaped spaces for recreation, bicycle parking and shared transport facilities. The building also features several sustainable initiatives such as Electric Vehicle (EV) charging, double glazing, solar panels, recycled water and bike sharing.

Summary Information

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----- Start of picture text -----

OWNERSHIP 70% Mirvac, 30% CEFC
TOTAL LOTS 315
ACQUISITION DATE Jun-19
LAST EXTERNAL VALUATION DATE 30-Jun-21
VALUATION AT 30 JUNE 2021 $220.3m [1]
VALUER EY
CAPITALISATION RATE 4.00%
DISCOUNT RATE 6.25%
----- End of picture text -----

Book value represents Mirvac's ownership.

FY21 Mirvac Property Compendium

Property Under Construction Build to Rent

LIV ALBERT FIELDS

MELBOURNE, VIC

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LIV Albert Fields is located in the inner north of Melbourne, approximately 6 kilometres north of the Melbourne CBD. The site benefits from its substantial natural amenity being surrounded by 20 hectares of parkland, whilst still having close proximity to Brunswick train station (650m) and the retail and food and beverage offerings on Sydney Road. LIV Albert Fields will be among the first of its kind: a neighbourhood designed and built entirely for renters, that puts people at the centre of the design process.

Mirvac and Milieu in collaboration, on behalf of LIV Mirvac, will develop this urban precinct exclusively purpose built and designed for renters. The property will comprise of approximately 500 apartments, 800 square meters of retail, 1,800 square meters of common amenity and 200 car parks, subject to planning approval.

Intended to be truly 'green', it will mark a turning point in urban sustainability in Australia, providing residents with the infrastructure to live well now and into the future.

Summary Information

==> picture [454 x 84] intentionally omitted <==

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VALUATION AT 30 JUNE 2021 $24.6m
EXPECTED DEVELOPMENT VALUE ON COMPLETION TBC
ACQUISITION DATE Various from September 2020
TARGET COMPLETION FY25+
OWNERSHIP 100% Mirvac
----- End of picture text -----

Note: Image is an artist impression only and subject to planning outcomes.

FY21 Mirvac Property Compendium

Property Under Construction Build to Rent

LIV MUNRO

MELBOURNE, VIC

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LIV Munro is located within the broader Queen Victoria Market (QVM) precinct which is situated in the Melbourne CBD north west corridor and is on the doorstep of West Melbourne, North Melbourne and Carlton. The QVM precinct occupies a pivotal location between the City North Urban Renewal Precinct to the north; the education and health precincts to the north and north east; the central city and the broader ‘Hoddle Grid’ to the south east. QVM is a major landmark in Melbourne and is the largest open-air market in the Southern Hemisphere.

LIV Munro, designed by Bates Smart comprises of 490 Build to Rent apartments across Levels 5-39, 136 car spaces, a wellness centre (including a gym, pool, spa, steam room, sauna and outdoor deck), co-working facilities, an outdoor cinema and numerous entertaining areas. The building is targeting to achieve an 8.0 Star NatHERS and a minimum 5 Star Green Star as-built rating.

==> picture [454 x 100] intentionally omitted <==

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||||
|---|---|---|
|Summary Information|
|VALUATION AT 30 JUNE 2021|$102.6m|
|EXPECTED DEVELOPMENT VALUE ON COMPLETION|$352m|[1]|
|ACQUISITION DATE|Apr-21|
|TARGET COMPLETION|FY23|
|OWNERSHIP|100% Mirvac|

----- End of picture text -----

Note: Image is an artist impression only.

Represents 100% of fully stabilised expected development end value, subject to various factors outside of Mirvac’s control such as planning, market demand and COVID-19 uncertainties.

FY21 Mirvac Property Compendium

Property Under Construction Build to Rent

LIV ANURA

BRISBANE, QLD

==> picture [320 x 238] intentionally omitted <==

LIV Anura is Mirvac’s first Build to Rent (BTR) asset in QLD and is being delivered in partnership with the QLD State government through their first BTR Pilot Project process. LIV Anura is located 3 kilometres north of the Brisbane CBD in the inner-city suburb of Newstead, within the Waterfront Masterplan development. It is well-known as an established residential location in Brisbane’s inner north with pockets of light commercial, retail, and open space providing a mix of amenity for Newstead residents. The Brisbane River borders the suburb directly to the east and the Gasworks Precinct to the west.

LIV Anura includes plans to deliver approximately 395 high quality rental apartments including approximately 99 Affordable Housing units as part of the QLD BTR Pilot Project. The property will encompass over 3,000 square meters of indoor and outdoor amenity for residents including a dedicated amenity floor with a variety of offerings including gym, pool, spa, and co-working facilities. Sustainability is a key focus for our build to rent assets with LIV Anura targeting a 7.5 Star NatHERS and a 5 Star Green Star as-built rating.

Summary Information

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VALUATION AT 30 JUNE 2021 $22.5m
EXPECTED DEVELOPMENT VALUE ON COMPLETION $268m [1]
ACQUISITION DATE Mar-21 [2]
TARGET COMPLETION FY24
OWNERSHIP 100% Mirvac
----- End of picture text -----

Note: Image is an artist impression only and subject to planning outcomes.

Represents 100% of fully stabilised expected development end value, subject to various factors outside of Mirvac’s control such as planning, market demand and COVID-19 uncertainties.
Represents date transferred from inventories during the year.

industrialother investments

Reimagine urban life

FY21 Mirvac Property Compendium

Other Investments

JVA & Funds Under Management

Tucker Box Hotel Group

==> picture [490 x 76] intentionally omitted <==

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FOCUS FUM ($M) NO. OF INVESTORS
Wholesale 623 2
The Tucker Box Hotel Group is a sector specific wholesale fund established in March 2005 and focuses on the 3
to 3.5 star, limited service hotel market in Australia. The portfolio comprises of 11 hotels and 2,032 rooms, all of
which are leased to Value Lodging Pty Limited, a subsidiary of Toga Far East Hotels. In July 2021, a contract of
sale was entered into with a Joint Venture managed by Salter Brothers for a headline purchase price of $620m [1] ,
with settlement expected in FY22.
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LAT Portfolio

==> picture [490 x 180] intentionally omitted <==

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FOCUS FUM ($M) NO. OF INVESTORS
Office UNDISCLOSED N/A
In December 2015, Mirvac reached an agreement with a subsidiary of China Investment Corporation (CIC) to
become asset manager of the LAT portfolio. Mirvac also invested an interest in the CIC controlled trusts that are
managed by Mirvac.
MILP Trust
FOCUS FUM ($M) NO. OF INVESTORS
Industrial 323 2
MILP Trust is owned by Mirvac (10%) and Prime Property Fund Asia Limited Partnership (90%). The Trust's
industrial assets comprise of two facilities in Victoria, one in Campbelltown NSW and a 50% interest in the Calibre
Estate in Eastern Creek, NSW. During the year the fund began a marketing campaign to dispose of all assets with
the exception of Calibre. At 30 June no contracts had been exchanged.
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Duck River Auburn Trust

==> picture [490 x 62] intentionally omitted <==

----- Start of picture text -----

FOCUS FUM ($M) NO. OF INVESTORS
Industrial 12 2
Duck River Auburn Trust is owned by Mirvac (51%) and North Haven Real Estate Fund IX Global (49%). The Trust
has entered into an option to acquire and redevelop an industrial site in Auburn, NSW. Settlement on the site is
forecast to occur in early FY22.
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Australian Build to Rent Club[2]

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FOCUS FUM ($M) NO. OF INVESTORS
Build to Rent 221 2
The Australian Build to Rent Club is owned by Mirvac (69.9%) and Clean Energy Finance Corporation (30.1%). The
fund holds one asset at Sydney Olympic Park, NSW.
----- End of picture text -----

Headline purchase price before price adjustments and selling costs.

2.The fund is consolidated and the co-investor's ownership is recognised as a non-controlling interest.

industrialresidential

FORME TULLAMORE, MELBOURNE (ARTIST IMPRESSION)

Mirvac is one of the leading residential brands in the Australian development and construction industry and has a proven track record of delivering innovative and quality products that exceed customers’ expectations and lead the market.

Reimagine urban life

FY21 Mirvac Property Compendium

Residential Development

Overview

Expected Revenue $15.7 billion[1]

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NSW 43%
VIC 40%
QLD 13%
WA 4%
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Pipeline Lots

26,569 lots[2]

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Insert Pie Chart
NSW 28%
VIC 49%
QLD 17%
WA 6%
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Residential Expected Revenue Mirvac Share Expected Revenue $13.7 billion[3]

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NSW 42%
VIC 38%
QLD 15%
WA 5%
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Masterplanned Communities $7.0 billion[3]

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NSW 28%
VIC 56%
QLD 12%
WA 4%
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Apartments
$6.7 billion [3]
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----- Start of picture text -----

NSW 57%
VIC 20%
QLD 18%
WA 5%
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JV & Funds Under Management

FOCUS	FUM($M)	NO. OF INVESTORS
Mirvac Ping An Waterloo Development Trust	1	2
Mirvac SLS Development Trust	17	2

Represents 100% expected future revenue subject to various factors outside of Mirvac’s control such as planning and market demand.
Subject to change depending on planning approvals, development and construction decisions as well as market demand and conditions, including COVID-19 uncertainties.
Represents Mirvac's share of expected future revenue subject to various factors outside of Mirvac’s control such as planning and market demand.

FY21 Mirvac Property Compendium

Residential Development

NEW SOUTH WALES

==> picture [466 x 119] intentionally omitted <==

----- Start of picture text -----

Mirvac Share Expected Revenue [1] Pipeline Lots [2]
$5.8 billion 7,444 lots
pie chart
Masterplanned Masterplanned
Communities 34% Communities 68%
Apartments 66% Apartments 32%
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In Progress

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ACQUISITION/ PROJECT
AGREEMENT VALUE TOTAL SETTLEMENT DATE [3] CURRENT PRICE RANGE CONSTRUCTION
PROPERTY DATE LOCATION (INCL. GST) LOTS [2] RELEASED EXCHANGED SETTLED FROM TO FROM TO PROGRESS [4] DESCRIPTION OWNERSHIP STRUCTURE
The Avenue, Alex Avenue Various (from 2012) Schofields $278.6m 492 482 482 482 FY14 FY23 $295,000 $819,900 MPC - Mix of land & housing 100% Mirvac
Completed Stages $174.9m 232 232 232 232 FY15 FY20 $312,900 $819,900 100%
Balance of project $103.7m 260 250 250 250 FY14 FY23 $295,000 $732,500 91%
55 Coonara Avenue May 20 West Pennant Hills TBC 600 0 0 0 FY25 FY26 TBC TBC 0% Apartments and housing 100% Mirvac
Crest, Raby Road Sep 14 Gledswood Hills $293.0m 592 592 592 592 FY17 FY21 $324,000 $737,000 91% MPC - Mix of land & housing 100% Mirvac
Georges Cove, NEWBRIDGE ROAD Dec 14 Moorebank $176.5m 179 110 80 0 FY22 FY24 $783,000 $1,309,000 12% MPC - Medium density housing PDA with Benedict Industries
Googong, Googong Dam Road Dec 11 Googong $1,721.4m 5,248 2,689 2,631 2,280 FY14 FY32 $112,000 $650,000 MPC - Mix of land & housing JV with PEET Limited
Completed Stages $186.5m 615 615 615 615 FY15 FY21 $208,000 $470,000 99%
Released Stages $685.1m 2,386 2,074 2,016 1,665 FY14 FY32 $180,000 $450,000 76%
Future Stages $849.8m 2,247 0 0 0 FY24 FY32 $112,000 $650,000 0%
Green Square, Botany Road Mar 12 Zetland $2,009.2m 1,616 [5] 637 553 476 FY17 FY28 $498,000 $2,970,000 Apartments with mixed use PDA with Landcom / 100% Mirvac
Completed Stages [9] $508.6m 477 477 476 476 FY17 FY24 $498,000 $2,080,000 100%
Portman on the Park $157.5m 117 116 62 0 FY23 FY24 $770,000 $2,558,000 7%
Portman House $56.3m 44 44 15 0 FY23 FY24 $740,000 $2,970,000 7%
Future Stages $1,286.8m 978 0 0 0 FY23 FY28 TBC TBC 0%
Marrick & Co., Marrickville Road Oct 15 Marrickville $229.4m 216 [6] 216 216 216 FY20 FY21 $615,000 $1,950,000 100% Apartments 100% Mirvac
NINE Willoughby, ARTARMON ROAD Feb 20 Willoughby $762.9m 442 0 0 0 FY23 FY24 TBC TBC 4% Apartments with mixed use 100% Mirvac
Pavilions, Figtree Drive Nov 14 Sydney Olympic Park $354.3m 359 [7] 359 241 232 FY20 FY25 $575,000 $2,015,000 100% Apartments PDA with Sydney Olympic Park Authority
Riverlands Milperra, PRESCOT PARADE Oct 19 Milperra TBC TBC 0 0 0 FY23 FY26 $860,000 $1,250,000 0% MPC - Medium density housing 100% Mirvac
St Leonards Square, Pacific Highway Jun 15 St Leonards $814.7m 561 [8] 560 560 560 FY20 FY22 $635,000 $5,585,000 Apartments with mixed use JV with Ping An Real Estate
The William $356.9m 241 240 240 240 FY20 FY22 $635,000 $2,725,000 100%
The Jackson $457.8m 320 320 320 320 FY20 FY21 $640,000 $5,585,000 100%
The Village Menangle, STATION STREET Jan 17 Menangle $177.6m 379 60 33 0 FY22 FY25 $444,900 $573,900 7% MPC - Mix of land & housing PDA with SouWest Developments Pty Ltd
Waverley Bowling Club, BIRRELL STREET Dec 20 Waverley TBC 55 0 0 0 FY23 FY23 TBC TBC 3% Apartments PDA with Eastern Suburbs Leagues Club Ltd
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Proposed

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ACQUISITION/ PROJECT
AGREEMENT VALUE SETTLEMENT DATE [3]
PROPERTY DATE LOCATION (INCL. GST) TOTAL LOTS [2] FROM TO DESCRIPTION OWNERSHIP STRUCTURE
Marsden Park North Nov 14 Marsden Park $268.5m 547 FY25 FY28 MPC - Mix of land & housing PDA with MAC 1 MP Pty Ltd
Milperra, Western Sydney University Campus Aug 19 Milperra $422.2m 425 FY25 FY28 MPC - Medium density housing PDA with Western Sydney University
505 George Street May 20 Sydney TBC 260 FY29 FY30 Apartments with mixed use PDA with Coombes Property Group
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Represents Mirvac's share of expected future revenue subject to various factors outside of Mirvac’s control such as planning outcomes and market demand.
Indicative only and subject to change. Final lot number will depend on planning outcomes, development and construction decisions as well as market demand and conditions, including COVID-19 uncertainties.
Settlement dates may vary as circumstances change, such as planning outcomes, development and construction decisions as well as market demand and conditions, including COVID-19 uncertainties.
Construction progress as a percentage of cost, which includes land subdivision but not land acquisition. 7. Excludes affordable housing lots to be delivered to Sydney Olympic Park Authority and Build to Rent lots.
Includes four retail lots.
Excludes nine affordable housing lots.
Includes 34 retail/commercial strata lots. Final unreleased retail lot expected to settle FY22.
Includes 1 retail lot, expected to settle FY24.

FY21 Mirvac Property Compendium

Residential Development New South Wales

THE AVENUE, ALEX AVENUE

SCHOFIELDS, NSW

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A land and housing project, The Avenue at Schofields is in the north-west growth corridor of Sydney approximately 45 kilometres from the Sydney CBD. This masterplanned community is nearing completion having delivered 482 residential lots to date, with the final 10 lots pending works by Council, anticipated in FY23. The community includes a 1.2-hectare public park delivered by Mirvac.

Summary Information - In Progress

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ACQUISITION/AGREEMENT DATE Various (from 2012)
LOCATION Schofields
PROJECT VALUE (INCL. GST) $278.6m
TOTAL LOTS 492
SETTLEMENT PERIOD FY14-FY23
OWNERSHIP STRUCTURE 100% Mirvac
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FY21 Mirvac Property Compendium

Residential Development New South Wales

55 COONARA AVENUE

WEST PENNANT HILLS, NSW

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55 Coonara Avenue, West Pennant Hills is a 26-hectare site located within 800 metres of the Cherrybrook Metro Station and three kilometres from the new Northconnex interchange. Following successful rezoning, a new residential community comprising houses, apartments, community facilities and parklands is proposed to replace the existing redundant business park. As part of the rezoning, approximately 10 hectares of remnant forest is now zoned Environmental Conservation and is proposed to be dedicated to the State Government as an extension of the adjoining Cumberland State Forest.

Summary Information - In Progress

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ACQUISITION/AGREEMENT DATE May-20
LOCATION West Pennant Hills
PROJECT VALUE (INCL. GST) TBC
TOTAL LOTS [1] 600
SETTLEMENT PERIOD FY25-FY26
OWNERSHIP STRUCTURE 100% Mirvac
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Indicative only and subject to change. Final lot number will depend on planning outcomes, development and construction decisions as well as market demand and conditions, including COVID-19 uncertainties.

FY21 Mirvac Property Compendium

Residential Development New South Wales

CREST, RABY ROAD

GLEDSWOOD HILLS, NSW

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Crest by Mirvac is a residential master-planned community located in the south-western Sydney suburb of Gledswood Hills. The project consists of 592 land lots to be integrated with approximately 41 hectares of recreational open space. “My Ideal House” at Crest won the Australian Institute of Architects’ 2019 Award for Sustainable Architecture.

Summary Information - In Progress

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ACQUISITION/AGREEMENT DATE Sep-14
LOCATION Gledswood Hills
PROJECT VALUE (INCL. GST) $293.0m
TOTAL LOTS 592
SETTLEMENT PERIOD FY17-FY21
OWNERSHIP STRUCTURE 100% Mirvac
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FY21 Mirvac Property Compendium

Residential Development New South Wales

GEORGES COVE, NEWBRIDGE ROAD MOOREBANK, NSW

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Georges Cove is located in Moorebank, approximately 27 kilometres south-west of Sydney CBD, on the banks of the Georges River and in close proximity to Mirvac’s award winning masterplanned community site, Brighton Lakes. The 179 lot estate includes a mix of Mirvac designed and built detached, semi-detached and terrace homes as well as a community facility comprising landscaped green space, a swimming pool, and covered BBQ area. The site will benefit from existing local schools, cafes and restaurants and is only minutes’ drive to the M5 and major arterial roads that link to the Liverpool CBD. Bus services are within walking distance and Holsworthy train station is only 3 kilometres away.

Summary Information - In Progress

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ACQUISITION/AGREEMENT DATE Dec-14
LOCATION Moorebank
PROJECT VALUE (INCL. GST) $176.5m
TOTAL LOTS 179
SETTLEMENT PERIOD FY22-FY24
OWNERSHIP STRUCTURE PDA with Benedict Industries
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FY21 Mirvac Property Compendium

Residential Development New South Wales

GOOGONG, GOOGONG DAM ROAD

GOOGONG, NSW

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Googong is a new township located on former grazing land on the NSW/ACT border, just 16 kilometres south-east of Parliament House and eight kilometres south of Queanbeyan. The project is being developed over 20 to 25 years on a 780-hectare site and will eventually be home to approximately 18,000 people. As a new, self-contained township, Googong will ultimately provide housing, community and recreational facilities, shops, schools and employment opportunities. Over 20 percent of the site will be dedicated to Council as open space for parklands and playing fields. The project has won numerous awards including 2019 UDIA NSW Award for Excellence – Masterplanned Communities and NSW Regional Development, 2020 PCA ACT Development of the Year award and 2020 UDIA NSW Marketing Award. In 2021 Googong received Green Star re-accreditation for 5 star community, equating to Australian Excellence approved by Green Building Council.

Summary Information - In Progress

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ACQUISITION/AGREEMENT DATE Dec-11
LOCATION Googong
PROJECT VALUE (INCL. GST) $1,721.4m
TOTAL LOTS [1] 5,248
SETTLEMENT PERIOD FY14-FY32
OWNERSHIP STRUCTURE JV with PEET Limited
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Indicative only and subject to change. Final lot number will depend on planning outcomes, development and construction decisions as well as market demand and conditions, including COVID-19 uncertainties.

FY21 Mirvac Property Compendium

Residential Development New South Wales

GREEN SQUARE, BOTANY ROAD

ZETLAND, NSW

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Green Square is a mixed-use development located just over four kilometres south of Sydney’s CBD, approximately four kilometres from Sydney airport and is conveniently located near the Green Square train station. The Green Square precinct is one of the largest urban renewal projects in Australia and when complete, this development will aim to deliver over 1,600 apartments, along with office and retail space and a substantial public domain within the Green Square Town Centre. In 2020 Mirvac acquired Landcom’s ownership of the future stages of Green Square Town Centre, including future apartments, commercial and retail space.

Summary Information - In Progress

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ACQUISITION/AGREEMENT DATE Mar-12
LOCATION Zetland
PROJECT VALUE (INCL. GST) $2,009.2m
TOTAL LOTS [1] 1,615 [2]
SETTLEMENT PERIOD FY17-FY28
OWNERSHIP STRUCTURE PDA with Landcom / 100% Mirvac
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Indicative only and subject to change. Final lot number will depend on planning outcomes, development and construction decisions as well as market demand and conditions, including COVID-19 uncertainties.
Includes four retail lots.

FY21 Mirvac Property Compendium

Residential Development New South Wales

MARRICK & CO., MARRICKVILLE ROAD

MARRICKVILLE, NSW

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Located in Sydney’s inner west, seven kilometres south-west of Sydney’s CBD, Marrick & Co is the first One Planet Living certified community in NSW. The project, on the former Marrickville Hospital site and delivered in partnership with Inner West Council, comprises residential apartments and terrace homes and the award winning new library named ‘Patyegarang Place’. The library was dedicated by Mirvac to Inner West Council along with four percent of the residential apartments for key worker housing. The development, completed in mid-2019, boasts an abundance of open space including ‘The Common’ where fitness classes are hosted in the mornings, a rooftop deck where a kitchen provides residents with BBQ and pizza oven facilities and kitchen gardens for residents to grow their own produce. Significant elements of the site’s rich history have been retained, including the heritage conversion of the main ward building as the new library and the former nurses’ quarters as luxury, whole floor, boutique terrace dwellings. Since completion, the project has won 16 awards including the Milo Dunphy Award for Sustainable Architecture, Sulman Medal for Public Architecture, NSW Premier’s Prize and Greater Sydney Planning Awards for Development Supported by Infrastructure.

Summary Information - In Progress

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ACQUISITION/AGREEMENT DATE Oct-15
LOCATION Marrickville
PROJECT VALUE (INCL. GST) $229.4m
TOTAL LOTS 216 [1]
SETTLEMENT PERIOD FY20-FY21
OWNERSHIP STRUCTURE 100% Mirvac
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Excludes nine affordable housing lots.

FY21 Mirvac Property Compendium

Residential Development New South Wales

NINE WILLOUGHBY, ARTARMON ROAD

ARTARMON, NSW

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Located 6 kilometres north of the Sydney CBD at the old Channel Nine Network Studio headquarters, the 3-hectare site will accommodate 442 luxury residential apartments and smallscale non-residential uses across a cluster of ten boutique buildings, ranging in height. The buildings will feature high-quality facades that integrate with the surrounding landscape and local character of Willoughby. The future development will provide significant public open space showcasing the unique natural qualities of Sydney’s Lower North Shore landscape for relaxation, socialisation and coming together as a community. The development will also include the removal of the 233 metre high transmission tower that is currently on the site, significantly improving the skyline in the local area.

Summary Information - In Progress

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ACQUISITION/AGREEMENT DATE Feb-20
LOCATION Willoughby
PROJECT VALUE (INCL. GST) $762.9m
TOTAL LOTS [1] 442
SETTLEMENT PERIOD FY23-FY24
OWNERSHIP STRUCTURE 100% Mirvac
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Indicative only and subject to change. Final lot number will depend on planning outcomes, development and construction decisions as well as market demand and conditions, including COVID-19 uncertainties.

FY21 Mirvac Property Compendium

Residential Development New South Wales

PAVILIONS, FIGTREE DRIVE SYDNEY OLYMPIC PARK, NSW

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Located within the Sydney Olympic Park precinct, the site is 16 kilometres west of the Sydney CBD and nine kilometres from the Parramatta CBD. The precinct includes two build to sell apartment buildings, and two build to rent buildings. The project has a strong focus on amenity and private open space for its residents and tenants, with a private 4,500 square metre landscape podium situated over four levels of basement car parking, gym, community room, herb garden, pavilions and BBQ facilities for exclusive use of its residents. In addition, 1,500 square metres of retail space will be handed back to the Sydney Olympic Park Authority which will own and lease to a commercial operator. The strong partnership between Mirvac and Sydney Olympic Park Authority is integral in connecting precinct residents with the wider community and celebrates a future devoted to the success of the region.

Summary Information - In Progress

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ACQUISITION/AGREEMENT DATE Nov-14
LOCATION Sydney Olympic Park
PROJECT VALUE (INCL. GST) $354.3m
TOTAL LOTS 359 [1]
SETTLEMENT PERIOD FY20-FY25
OWNERSHIP STRUCTURE PDA with Sydney Olympic Park Authority
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Excludes affordable housing lots to be delivered to Sydney Olympic Park Authority and Build to Rent lots.

FY21 Mirvac Property Compendium

Residential Development New South Wales

RIVERLANDS MILPERRA, PRESCOT PARADE

MILPERRA, NSW

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The Riverlands Golf Course is a recently acquired residential masterplanned community project. It is an infill site located approximately 30 kilometres south-west of the Sydney CBD with direct access to the Georges River foreshore. The site is proposed to include dwellings to be constructed by Mirvac along with a community facility and recreational opportunities.

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||||
|---|---|---|
|Summary Information - In Progress|
|ACQUISITION/AGREEMENT DATE|Oct-19|
|LOCATION|Milperra|
|PROJECT VALUE (INCL. GST)|TBC|
|TOTAL LOTS|[1]|TBC|
|SETTLEMENT PERIOD|FY23-FY26|
|OWNERSHIP STRUCTURE|100% Mirvac|

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Indicative only and subject to change. Final lot number will depend on planning outcomes, development and construction decisions as well as market demand and conditions, including COVID-19 uncertainties.

Note: Concept image only (artist impression), final design may differ from above image.

FY21 Mirvac Property Compendium

Residential Development

New South Wales

ST LEONARDS SQUARE, PACIFIC HIGHWAY

ST LEONARDS SQUARE, NSW

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Located in the heart of Sydney's Lower North Shore, St Leonards Square is just a few hundred metres from St Leonards Train Station and diagonally opposite the future Crows Nest Metro Station. Completed in the second half of 2019, the project has delivered luxury residential apartments across two striking towers. Only 4.5 kilometres from the Sydney CBD, the project offers iconic views of Sydney CBD and Sydney Harbour and amenities across two levels. The project has also provided 32 commercial strata office suites, a Virgin Active gym and a vibrant ground floor retail precinct for residents and the wider community. The project was awarded Urban Taskforce Australia’s 2020 award for High Density Residential Development.

Summary Information - In Progress

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ACQUISITION/AGREEMENT DATE Jun-15
LOCATION St Leonards
PROJECT VALUE (INCL. GST) $814.7m
TOTAL LOTS 561 [1]
SETTLEMENT PERIOD FY20-FY22 [2]
OWNERSHIP STRUCTURE JV with Ping An Real Estate
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Includes 34 retail/commercial strata lots.
Final unreleased retail lot expected to settle FY22.

FY21 Mirvac Property Compendium

Residential Development New South Wales

THE VILLAGE MENANGLE, STATION STREET MENANGLE, NSW

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The Village, Menangle is a residential masterplanned community located in Sydney’s southwest within the Wollondilly Shire LGA. The 40-hectare site is adjacent to the historical Menangle train station and Menangle village. Two parks are proposed within the masterplanned community. Mirvac’s project partners, Benedict Industries and the Halfpenny family, are planning a new tourism and lifestyle destination adjacent to the residential subdivision securing the future of the heritage listed Camden Park Estate Central Creamery and Rotolactor.

Summary Information - In Progress

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ACQUISITION/AGREEMENT DATE Jan-17
LOCATION Menangle
PROJECT VALUE (INCL. GST) $177.6m
TOTAL LOTS [1] 379
SETTLEMENT PERIOD FY22-FY25
OWNERSHIP STRUCTURE PDA with SouWest Developments Pty Ltd
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Indicative only and subject to change. Final lot number will depend on planning outcomes, development and construction decisions as well as market demand and conditions, including COVID-19 uncertainties.

FY21 Mirvac Property Compendium

Residential Development New South Wales

WAVERLEY BOWLING CLUB, BIRRELL STREET WAVERLEY, NSW

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Located in Waverley, the site is approximately one hectare in area and in the premium coastal eastern suburbs of Sydney, approximately 6 kilometres from the CBD. The project will be delivered with the landowner, Eastern Suburbs Leagues Club (ESLC). The site is nestled amongst an array of local infrastructure and amenity including Waverley Oval, Waverley College, Tamarama Beach and Westfield Bondi Junction. With an existing development approval, the project will aim to deliver a boutique over 55s development of 55 apartments, integrated with a new Waverley Bowling Club and bowling greens to be retained by the ESLC. A high level of architectural design will define this new rare quality offering in an area experiencing extremely limited supply.

Summary Information - In Progress

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ACQUISITION/AGREEMENT DATE Dec-20
LOCATION Waverley
PROJECT VALUE (INCL. GST) TBC
TOTAL LOTS [1] 55
SETTLEMENT PERIOD FY23
OWNERSHIP STRUCTURE PDA with Eastern Suburbs Leagues Club Ltd
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Indicative only and subject to change. Final lot number will depend on planning outcomes, development and construction decisions as well as market demand and conditions, including COVID-19 uncertainties.

FY21 Mirvac Property Compendium

Residential Development

QUEENSLAND

Mirvac Share Expected Revenue[1] $2.0 billion

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Masterplanned
Communities 42%
Apartments 58%
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Pipeline Lots[2] 4,642 lots

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Masterplanned
Communities 72%
Apartments 28%
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In Progress

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Represents Mirvac's share of expected future revenue subject to various factors outside of Mirvac’s control such as planning outcomes and market demand.
Indicative only and subject to change. Final lot number will depend on planning outcomes, development and construction decisions as well as market demand and conditions, including COVID-19 uncertainties.
Settlement dates may vary as circumstances change, such as planning outcomes, development and construction decisions as well as market demand and conditions, including COVID-19 uncertainties.
Construction progress as a percentage of cost, which includes land subdivision but not land acquisition.
Agreement date relates to Waterfront Newstead precinct.

FY21 Mirvac Property Compendium

Residential Development Queensland

ASCOT GREEN, LANCASTER ROAD

ASCOT, QLD

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Ascot Green is a joint residential development project with Brisbane Racing Club located in the blue-chip suburb of Ascot in Brisbane. On completion, the project is intended to deliver more than 950 apartments situated along the iconic Eagle Farm Racecourse. The first tower, Ascot House, was completed in June 2018 with all lots now sold. The adjoining tower, Tulloch House, was officially released to the market in November 2019 and is comprised of 83 apartments. Construction of Tulloch House commenced in April 2020, and completion is currently expected in late 2021. The project won the 2018 HIA Apartment of the Year Award (Queensland).

Summary Information - In Progress

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ACQUISITION/AGREEMENT DATE Sep-15
LOCATION Ascot
PROJECT VALUE (INCL. GST) $860.5m
TOTAL LOTS [1] 965
SETTLEMENT PERIOD FY18-FY31
OWNERSHIP STRUCTURE PDA with Brisbane Racing Club
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Indicative only and subject to change. Final lot number will depend on planning outcomes, development and construction decisions as well as market demand and conditions, including COVID-19 uncertainties.

FY21 Mirvac Property Compendium

Residential Development Queensland

ASHFORD, ASHMORE STREET EVERTON PARK, QLD

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Located in Everton Park, 7 kilometres north of the Brisbane CBD, this residential development comprises 80 town homes, 43 land lots and one heritage home. The development also consists of residents’ club facilities and establishment of an ecological area.

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|||
|---|---|
|Summary Information - In Progress|
|ACQUISITION/AGREEMENT DATE|Mar-17|
|LOCATION|Everton Park|
|PROJECT VALUE (INCL. GST)|$85.3m|
|TOTAL LOTS|124|
|SETTLEMENT PERIOD|FY21-FY23|
|OWNERSHIP STRUCTURE|100% Mirvac|

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FY21 Mirvac Property Compendium

Residential Development Queensland

EVERLEIGH, TEVIOT ROAD GREENBANK, QLD

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Everleigh is an award winning 481-hectare masterplanned community located 30 kilometres south of the Brisbane CBD. It is anticipated to yield over 3,450 residential land lots, in addition to regional sports and recreation parks, a state primary school site and a neighbourhood retail centre. Five residential stages have been constructed and registered with the early works commencing on the sixth stage. The state primary school site was transferred to the Department of Education, with construction now underway and due to open for the 2022 enrolment year. Everleigh won the Master Planning Award at the 2021 Logan Urban Design Awards, and was named a finalist in the 2020 UDIA awards for Parks and Recreation, Community Engagement and Consultant Excellence. In 2019 the project won the AILA – Landscape Architecture Award – Parks and Open Space and Queensland Landscape and Construction Awards – Winner of the Best Entry Statement.

Summary Information - In Progress

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ACQUISITION/AGREEMENT DATE Feb-16
LOCATION Greenbank
PROJECT VALUE (INCL. GST) $816.0m
TOTAL LOTS [1] 3,453
SETTLEMENT PERIOD FY19-FY35
OWNERSHIP STRUCTURE 100% Mirvac
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Indicative only and subject to change. Final lot number will depend on planning outcomes, development and construction decisions as well as market demand and conditions, including COVID-19 uncertainties.

FY21 Mirvac Property Compendium

Residential Development Queensland

GAINSBOROUGH GREENS, SWAN ROAD PIMPAMA, QLD

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Gainsborough Greens is a large-scale masterplanned community located at Pimpama in the northern Gold Coast area, 50 kilometres south of the Brisbane CBD. The project consists of approximately 1,900 lots, along with recreational and retail facilities, with over 65% of the site being open space, 177 hectares of which is a dedicated conservation nature reserve for native flora and fauna. The project encompasses the existing Gainsborough Greens Golf Course which was sold to a third party and is now subject to a body corporate structure. The project has won the 2019 AILA – Queensland Landscape and Architecture Awards/Awards for Excellence – Play Spaces, 2020 Queensland Landscape Architecture Awards – State’s best park – Parks and Open Space Category, and 2020 UDIA awards for Parks and Recreation and Community Engagement.

Summary Information - In Progress

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ACQUISITION/AGREEMENT DATE Oct-06
LOCATION Pimpama
PROJECT VALUE (INCL. GST) $512.8m
TOTAL LOTS [1] 1,972
SETTLEMENT PERIOD FY11-FY22
OWNERSHIP STRUCTURE 100% Mirvac
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Indicative only and subject to change. Final lot number will depend on planning outcomes, development and construction decisions as well as market demand and conditions, including COVID-19 uncertainties.

FY21 Mirvac Property Compendium

Residential Development Queensland

WATERFRONT SKY, SKYRING TERRACE

NEWSTEAD, QLD

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Mirvac’s ‘Waterfront’ masterplan is located in Newstead alongside the Brisbane River, and only two kilometres from the Brisbane CBD. Within the Waterfront Sky Precinct, the first stage is Quay which was released to the market in April 2021. Quay Waterfront Newstead received development approval in July 2020 and comprises a mixed-use scheme with ground level retail and 136 premium residential apartments over 25 levels, ranging from 1 bedroom apartments through to 4 bedroom pavilion residences, designed for owner occupiers. The landmark architectural design also proposes unsurpassed residential amenity including a 25 metre rooftop infinity pool, recreation deck and resident wellness centre. Preliminary residential schemes for the balance Sky Stages 2 and 3 are currently under development.

Summary Information - In Progress

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ACQUISITION/AGREEMENT DATE Apr-08 [1]
LOCATION Newstead
PROJECT VALUE (INCL. GST) $492.7m
TOTAL LOTS [2] 433
SETTLEMENT PERIOD FY24-FY27
OWNERSHIP STRUCTURE 100% Mirvac
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Agreement date relates to Waterfront Newstead precinct.
Indicative only and subject to change. Final lot number will depend on planning outcomes, development and construction decisions as well as market demand and conditions, including COVID-19 uncertainties.

FY21 Mirvac Property Compendium

Residential Development

VICTORIA

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Mirvac Share Expected Revenue [1] Pipeline Lots [2]
$5.2 billion 12,881 lots
Masterplanned Masterplanned
Communities 74% Communities 89%
Apartments 26% Apartments 11%
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In Progress

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ACQUISITION/ PROJECT
AGREEMENT VALUE TOTAL SETTLEMENT DATE [3] CURRENT PRICE RANGE CONSTRUCTION
PROPERTY DATE LOCATION (INCL. GST) LOTS [2] RELEASED EXCHANGED SETTLED FROM TO FROM TO PROGRESS [4] DESCRIPTION OWNERSHIP STRUCTURE
Olivine, Donnybrook Road Jun 12 Donnybrook $1,376.2m 4,499 961 911 664 FY18 FY37 $127,000 $449,000 MPC - Mix of land & housing Combination of balance sheet and DMA with Boral
Completed Stages $124.9m 358 358 358 358 FY18 FY21 $200,000 $400,000 100%
Released Stages $171.3m 672 603 553 306 FY19 FY24 $127,000 $449,000 55%
Future Stages $1,080.0m 3,469 0 0 0 FY23 FY37 TBC TBC 5%
Smiths Lane, Smiths Lane Nov 11 Clyde North $1,027.6m 2,889 869 797 326 FY19 FY29 $173,000 $653,000 MPC - Mix of land & housing 100% Mirvac
Completed Stages $25.5m 136 136 136 136 FY19 FY21 $210,000 $412,000 100%
Released Stages $271.1m 845 733 661 190 FY21 FY26 $173,000 $653,000 50%
Future Stages $731.0m 1,908 0 0 0 FY23 FY29 $190,000 $435,000 2%
The Eastbourne, Albert Street Dec 12 East Melbourne $460.3m 258 258 258 257 FY19 FY22 $500,000 $14,000,000 100% Apartments PDA with Freemasons
The Fabric, Blackshaws Road Jul 20 Altona North $420.0m 573 89 84 0 FY22 FY28 $475,000 $1,250,000 MPC - Mix of housing and apartments 100% Mirvac
Released Stages $83.2m 90 89 84 0 FY22 FY23 $660,000 $1,250,000 10%
Future Stages (MPC) $173.9m 191 0 0 0 FY23 FY25 $670,000 $1,186,000 0%
Future Stages (apartments) $162.9m 292 0 0 0 FY25 FY28 $475,000 $612,500 0%
Tullamore, Doncaster Road Jul 15 Doncaster $882.1m 913 789 776 686 FY16 FY26 $380,000 $2,250,000 MPC - Mix of land, housing & medium density housing 100% Mirvac
Completed Stages $327.2m 326 326 326 326 FY16 FY21 $540,000 $1,950,000 100%
Released Stages $300.9m 258 227 220 188 FY17 FY26 $811,000 $2,250,000 70%
Apartments Building A (Phoenix) $92.9m 134 134 134 134 FY19 FY21 $380,000 $1,519,000 100%
Apartments Building B (Folia) $79.6m 102 102 96 38 FY21 FY22 $395,000 $1,835,000 100%
Apartments Building C (Forme) $81.5m 93 0 0 0 FY23 FY24 $420,000 $1,620,000 0%
Wantirna South, George Street Jun 19 Wantirna South $1,357.4m 1,717 0 0 0 FY26 FY35 TBC TBC 0% MPC - Mix of land, housing & medium density housing PDA with Boral
Waverley Park, Goodison Court Dec 01 Mulgrave $783.8m 1,319 1,317 1,317 1,288 FY04 FY22 $225,000 $1,525,000 MPC - Housing 100% Mirvac
Completed Stages $710.0m 1,240 1,240 1,240 1,240 FY04 FY21 $225,000 $1,405,000 100%
Released Stages $73.8m 79 77 77 48 FY18 FY22 $520,000 $1,525,000 75%
Woodlea, Leakes Road Nov 06 Rockbank $1,893.1m 6,550 4,112 4,075 3,581 FY16 FY33 $135,500 $1,088,888 MPC - Mix of land & housing 50% Mirvac 50% Jayaland Corporation
Completed Stages $705.8m 2,779 2,779 2,779 2,779 FY16 FY21 $135,500 $1,088,888 100%
Released Stages $419.4m 1,419 1,333 1,296 802 FY16 FY24 $203,000 $800,000 60%
Future Stages $767.9m 2,352 0 0 0 FY23 FY33 $160,000 $555,000 0%
Yarra's Edge, Lorimer Street Docklands $1,555.2m 1,526 1,128 1,036 780 FY05 FY27 $120,000 $7,065,000 Apartments (and townhouses) 100% Mirvac
Completed Stages Apr 11 $714.4m 664 664 664 664 FY13 FY20 $500,000 $6,000,000 100%
Marina Berths Mar 04 $18.1m 149 149 116 116 FY05 FY26 $120,000 $285,000 100%
Voyager - Tower 11 Oct 16 $303.5m 315 315 256 0 FY22 FY25 $475,000 $2,000,000 95%
Future Stages - $519.2m 398 0 0 0 FY25 FY27 $490,000 $7,065,000 0%
Proposed
ACQUISITION/ PROJECT
AGREEMENT VALUE SETTLEMENT DATE [3]
PROPERTY DATE LOCATION (INCL. GST) TOTAL LOTS [2] FROM TO DESCRIPTION OWNERSHIP STRUCTURE
699 Park Street, Brunswick Jun 21 Brunswick $223.4m 219 FY25 FY25 Apartments 100% Mirvac
----- End of picture text -----

Represents Mirvac's share of expected future revenue subject to various factors outside of Mirvac’s control such as planning outcomes and market demand.
Indicative only and subject to change. Final lot number will depend on planning outcomes, development and construction decisions as well as market demand and conditions, including COVID-19 uncertainties.
Settlement dates may vary as circumstances change, such as planning outcomes, development and construction decisions as well as market demand and conditions, including COVID-19 uncertainties.
Construction progress as a percentage of cost, which includes land subdivision but not land acquisition.

FY21 Mirvac Property Compendium

Residential Development Victoria

OLIVINE, DONNYBROOK ROAD

DONNYBROOK, VIC

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Olivine is located approximately 30 kilometres north of Melbourne’s CBD in Donnybrook within the City of Whittlesea municipality. The masterplanned community spans 465 hectares and is expected to deliver circa 4,500 lots over approximately 20 years. Olivine is expected to become home to approximately 11,000 residents and will include a new local town centre, education facilities, health, sports and community infrastructure, whilst 30% of the site will be dedicated to open space and conservation. Hume Anglican Grammar Donnybrook is currently open with students across Prep to Grade 5 and will ultimately expand to a Prep – Year 12 school. The $2.5m Olivine Community Hub, encompassing a social enterprise café, community space and sales office, opened in 2020, in parallel with Gumnut Adventure Park. The nine hectare active open space precinct has also commenced construction and is expected to be ready for use in 2022. The Hayes Hill State Government Primary School has now been funded for a Term 1, 2023 opening. This will complement the planned opening of Wallaby Early Learning and Childcare centre in 2023.

Summary Information - In Progress

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ACQUISITION/AGREEMENT DATE Jun-12
LOCATION Donnybrook
PROJECT VALUE (INCL. GST) $1,376.2m
TOTAL LOTS [1] 4,499
SETTLEMENT PERIOD FY18-FY37
OWNERSHIP STRUCTURE Combination of balance sheet and DMA with Boral
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Indicative only and subject to change. Final lot number will depend on planning outcomes, development and construction decisions as well as market demand and conditions, including COVID-19 uncertainties.

FY21 Mirvac Property Compendium

Residential Development Victoria

SMITHS LANE, SMITHS LANE

CLYDE NORTH, VIC

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Smiths Lane is a 240-hectare site located approximately 55 kilometres south-east of the Melbourne CBD in Clyde North in the City of Casey growth area. The masterplanned community is expected to deliver over 2,800 lots over ten years and be home to over 7,500 residents, with over 56 hectares of public open space planned. It will include a new local town centre, a government primary school, a private primary and secondary school, an active open space precinct with sporting ovals, seven local parks, community facility, wetlands and walking and cycle trails along Cardinia Creek.

Summary Information - In Progress

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ACQUISITION/AGREEMENT DATE Nov-11
LOCATION Clyde North
PROJECT VALUE (INCL. GST) $1,027.6m
TOTAL LOTS [1] 2,889
SETTLEMENT PERIOD FY19-FY29
OWNERSHIP STRUCTURE 100% Mirvac
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Indicative only and subject to change. Final lot number will depend on planning outcomes, development and construction decisions as well as market demand and conditions, including COVID-19 uncertainties.

FY21 Mirvac Property Compendium

Residential Development Victoria

THE EASTBOURNE, ALBERT STREET

EAST MELBOURNE, VIC

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The Eastbourne site is approximately 8,200 square metres and is positioned on the footstep of the Fitzroy Gardens in East Melbourne. The Eastbourne completed in mid-2019 and features 258 apartments across two buildings which are serviced by a four-level basement car park and luxurious amenities. This unique development is a distinct addition to East Melbourne and has raised the bar in luxury residential apartment living.

Summary Information - In Progress

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ACQUISITION/AGREEMENT DATE Dec-12
LOCATION East Melbourne
PROJECT VALUE (INCL. GST) $460.3m
TOTAL LOTS 258
SETTLEMENT PERIOD FY19-FY22
OWNERSHIP STRUCTURE PDA with Freemasons
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FY21 Mirvac Property Compendium

Residential Development Victoria

THE FABRIC, BLACKSHAWS ROAD ALTONA NORTH, VIC

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The Fabric is an 11.4-hectare urban infill site located in Altona North, 9 kilometres west of Melbourne’s CBD. The masterplan comprises a total of over 550 dwellings offering 2, 3 and 4- bedroom townhouses and mid-rise apartments. The Fabric townhouses achieve a strong, contemporary architectural style and deliver sustainable outcomes for future residents with all townhouses achieving a 7 star energy rating and provisioned with solar panels and fully electric appliances. Over one hectare of public open space will be delivered, including a main local park, a pocket park and linear trails linking green areas throughout the development.

Summary Information - In Progress

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ACQUISITION/AGREEMENT DATE Jul-20
LOCATION Altona North
PROJECT VALUE (INCL. GST) $420.0m
TOTAL LOTS [1] 573
SETTLEMENT PERIOD FY22-FY28
OWNERSHIP STRUCTURE 100% Mirvac
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Indicative only and subject to change. Final lot number will depend on planning outcomes, development and construction decisions as well as market demand and conditions, including COVID-19 uncertainties.

FY21 Mirvac Property Compendium

Residential Development Victoria

TULLAMORE, DONCASTER ROAD

DONCASTER, VIC

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Tullamore is a 47-hectare infill development, comprising vacant land, integrated housing and residential apartments. Located 13 kilometres from Melbourne's CBD, Tullamore is nestled among the highly sought after suburb of Doncaster. Formally the Eastern Golf Course, the project is within close proximity to leading retail, education and transport hubs. Over 30% of Tullamore is devoted to green open spaces, with parks, playgrounds, picnic areas, exercise equipment and walking tracks. Construction of the first apartment building at Tullamore, Phoenix, was completed in 2019. Folia, the second apartment building, completed in late FY21. The third apartment building, Forme, is planned to be released to market in FY22.

Summary Information - In Progress

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ACQUISITION/AGREEMENT DATE Jul-15
LOCATION Doncaster
PROJECT VALUE (INCL. GST) $882.1m
TOTAL LOTS [1] 913
SETTLEMENT PERIOD FY16-FY26
OWNERSHIP STRUCTURE 100% Mirvac
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Indicative only and subject to change. Final lot number will depend on planning outcomes, development and construction decisions as well as market demand and conditions, including COVID-19 uncertainties.

100

FY21 Mirvac Property Compendium

Residential Development Victoria

WANTIRNA SOUTH, GEORGE STREET

WANTIRNA SOUTH, VIC

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Wantirna South is a 171-hectare site located approximately 25 kilometres south-east of the Melbourne CBD. In June 2019 Mirvac agreed with Boral to develop the quarry and brickworks site into a future masterplanned community. The development of this site will include both the rehabilitation from its previous quarrying and brick production use and the rezoning and subsequent subdivision. It is envisaged that the community will comprise over 1,700 lots, with the masterplan allowing for a mix of residential land and smaller format townhouses, as well as a potential mixed-use zone comprising of a retail offering and higher density affordable housing. It is anticipated that the community will include over 66 hectares of new parkland, designed to invite and extend the adjacent Dandenong Valley Parklands into the site, and over 12 hectares of local public open space.

Summary Information - In Progress

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ACQUISITION/AGREEMENT DATE Jun-19
LOCATION Wantirna South
PROJECT VALUE (INCL. GST) $1,357.4m
TOTAL LOTS [1] 1,717
SETTLEMENT PERIOD FY26-FY35
OWNERSHIP STRUCTURE PDA with Boral
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Indicative only and subject to change. Final lot number will depend on planning outcomes, development and construction decisions as well as market demand and conditions, including COVID-19 uncertainties.

101

FY21 Mirvac Property Compendium

Residential Development Victoria

WAVERLEY PARK, GOODISON COURT

MULGRAVE, VIC

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Waverley Park is a masterplanned community located in the south-eastern suburb of Mulgrave, approximately 23 kilometres from Melbourne’s CBD. The site, which is over 80 hectares, was previously an Australian Rules Football venue. The oval and a portion of the stadium have been retained and converted into a retail precinct and sporting facilities. The project is now sold out with the remaining 27 homes under construction expected to settle in FY22. The 6.8 hectare lake and wetlands amenity, including an adventure playground, opened to the public in June 2021.

Summary Information - In Progress

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ACQUISITION/AGREEMENT DATE Dec-01
LOCATION Mulgrave
PROJECT VALUE (INCL. GST) $783.8m
TOTAL LOTS 1,319
SETTLEMENT PERIOD FY04-FY22
OWNERSHIP STRUCTURE 100% Mirvac
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102

FY21 Mirvac Property Compendium

Residential Development Victoria

WOODLEA, LEAKES ROAD ROCKBANK, VIC

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Woodlea is a 711-hectare, greenfield masterplanned community, situated 29 kilometres west of Melbourne’s CBD in Aintree (formerly Rockbank) within the City of Melton municipality. The community will accommodate approximately 20,000 residents upon completion, with over 8,500 residents currently residing at Woodlea. Community amenity includes six parks, a medical centre, pharmacy, private childcare and Council community hub (350+ childcare/kindergarten places), smart learning hub, social enterprise cafe, adventure park and a 10-hectare sporting precinct. The development comprises land lots, as well as a townhouse product, built by Mirvac. Bacchus Marsh Grammar primary school, the fifth largest primary school in Victoria, is operational and the State Government primary school, Aintree Primary School, opened Term 1 2021. The Local Town Centre, Woodlea Town, opened in March 2021 and is anchored by Coles in addition to 15 specialty retail tenancies, ancillary commercial and allied health.

Summary Information - In Progress

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ACQUISITION/AGREEMENT DATE Nov-06
LOCATION Rockbank
PROJECT VALUE (INCL. GST) $1,893.1m
TOTAL LOTS [1] 6,550
SETTLEMENT PERIOD FY16-FY33
OWNERSHIP STRUCTURE 50% Mirvac 50% Jayaland Corporation
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Indicative only and subject to change. Final lot number will depend on planning outcomes, development and construction decisions as well as market demand and conditions, including COVID-19 uncertainties.

103

FY21 Mirvac Property Compendium

Residential Development Victoria

YARRA'S EDGE, LORIMER STREET

DOCKLANDS, VIC

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Yarra’s Edge is a 14-hectare site located on the north facing bank of the Yarra River in Melbourne's Docklands. Mirvac commenced works at Yarra's Edge in 1999 and on completion, the precinct will include around 2,300 dwellings[1] , with a component of retail, commercial space and a marina.

Summary Information - In Progress

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ACQUISITION/AGREEMENT DATE Various (from 2004)
LOCATION Docklands
PROJECT VALUE (INCL. GST) $1,555.2m
TOTAL LOTS [1] 1,526 [2]
SETTLEMENT PERIOD FY05-FY27
OWNERSHIP STRUCTURE 100% Mirvac
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Indicative only and subject to change. Final lot number will depend on planning outcomes, development and construction decisions as well as market demand and conditions, including COVID-19 uncertainties.
Includes Wharf's Entrance, Marina Berths and Park Precinct.

104

FY21 Mirvac Property Compendium

Residential Development

WESTERN AUSTRALIA

Mirvac Share Expected Revenue[1] $0.7 billion

Pipeline Lots[2] 1,602 lots

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Materplanned
Materplanned Communities 79%
Communities 46%
Apartments 21%
Apartments 54%
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In Progress

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ACQUISITION/ PROJECT
AGREEMENT VALUE TOTAL SETTLEMENT DATE [3] CURRENT PRICE RANGE CONSTRUCTION
PROPERTY DATE LOCATION (INCL. GST) LOTS [2] RELEASED EXCHANGED SETTLED FROM TO FROM TO PROGRESS [4] DESCRIPTION OWNERSHIP STRUCTURE
Beachside Leighton, Freeman Loop Aug 06 North Fremantle $351.7m 287 287 287 287 FY11 FY21 $420,000 $8,950,000 Apartments with mixed use 100% Mirvac
Completed Stages $170.0m 69 69 69 69 FY11 FY16 $840,000 $8,950,000 100%
Prima & Meridian $114.0m 113 113 113 113 FY18 FY20 $495,000 $1,860,000 100%
Compass $66.6m 104 104 104 104 FY21 FY21 $420,000 $1,145,000 100%
Hotel Site $1.1m 1 1 1 1 FY21 FY21 $1,000,000 $1,000,000 100%
Claremont, Corner Graylands Road & KYLE WAY Jan 15 Claremont $152.5m 233 233 230 230 FY19 FY23 $399,000 $1,495,000 Apartments 100% Mirvac
Grandstand $91.3m 142 142 139 139 FY19 FY23 $399,000 $1,165,000 100%
Reserve $61.2m 91 91 91 91 FY19 FY21 $495,000 $1,495,000 100%
Henley Brook, PARK STREET Nov 18 Henley Brook $148.1m 603 80 18 0 FY22 FY26 $185,000 $325,000 MPC - Land lots 100% Mirvac
Released Stages $22.2m 88 80 18 0 FY22 FY23 $185,000 $319,000 85%
Future Stages $125.9m 515 0 0 0 FY23 FY26 $185,000 $325,000 0%
Iluma Private Estate, Marshall Road Dec 14 Bennett Springs $163.1m 623 458 373 367 FY18 FY24 $125,000 $349,000 MPC - Land lots 100% Mirvac
Completed Stages $31.8m 118 118 118 118 FY18 FY21 $219,000 $329,000 100%
Released Stages $89.9m 346 340 255 249 FY18 FY22 $125,000 $349,000 85%
Future Stages $41.4m 159 0 0 0 FY23 FY24 $225,000 $339,000 0%
Madox, Nicholson Road Feb 16 Piara Waters $113.0m 395 312 236 228 FY18 FY24 $135,000 $385,000 MPC - Land lots 100% Mirvac
Released Stages $96.1m 327 312 236 228 FY18 FY23 $165,000 $385,000 81%
Future Stages $16.9m 68 0 0 0 FY23 FY24 $135,000 $345,000 0%
ONE71 Baldivis, Baldivis Road Dec 13 Baldivis $74.8m 414 262 219 217 FY16 FY28 $139,000 $268,000 MPC - Land lots 100% Mirvac
Completed Stages $13.6m 70 70 70 70 FY16 FY21 $165,000 $268,000 100%
Released Stages $39.2m 217 192 149 147 FY16 FY28 $139,000 $246,000 90%
Future Stages $22.0m 127 0 0 0 FY24 FY28 $139,000 $205,000 0%
Osprey Waters, Bridgewater Boulevard Dec 13 Mandurah $84.0m 462 462 427 425 FY14 FY23 $109,000 $278,000 MPC - Land lots 100% Mirvac
Completed Stages $58.2m 325 325 325 325 FY14 FY19 $109,000 $239,000 100%
Released Stages $25.8m 137 137 102 100 FY14 FY23 $147,000 $278,000 96%
The Peninsula, The Circus Feb 03 Burswood $838.2m 779 443 441 440 FY07 FY26 $350,000 $13,395,000 Apartments, Medium Density & Land Lots 100% Mirvac
Completed Stages $476.9m 419 419 419 419 FY07 FY17 $385,000 $13,395,000 100%
Lot 16 $5.9m 7 7 7 6 FY18 FY22 $670,000 $1,785,000 81%
Lot 3 $8.0m 17 17 15 15 FY18 FY22 $440,000 $562,000 100%
Future Stages $347.4m 336 0 0 0 FY24 FY26 $350,000 $3,000,000 0%
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Represents Mirvac's share of expected future revenue subject to various factors outside of Mirvac’s control such as planning outcomes and market demand.
Indicative only and subject to change. Final lot number will depend on planning outcomes, development and construction decisions as well as market demand and conditions, including COVID-19 uncertainties.
Settlement dates may vary as circumstances change, such as planning outcomes, development and construction decisions as well as market demand and conditions, including COVID-19 uncertainties.
Construction progress as a percentage of cost, which includes land subdivision but not land acquisition.

105

FY21 Mirvac Property Compendium

Residential Development

Western Australia

BEACHSIDE LEIGHTON, FREEMAN LOOP

NORTH FREMANTLE, WA

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Beachside Leighton is a mixed-use development, approximately 20 kilometres south-west of the Perth CBD in a coastal location, comprising apartments, terraces, retail and a future hotel development site. Construction and settlement of all stages is now complete.

Summary Information - In Progress

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ACQUISITION/AGREEMENT DATE Aug-06
LOCATION North Fremantle
PROJECT VALUE (INCL. GST) $351.7m
TOTAL LOTS 287
SETTLEMENT PERIOD FY11-FY21
OWNERSHIP STRUCTURE 100% Mirvac
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106

FY21 Mirvac Property Compendium

Residential Development Western Australia

CLAREMONT, CORNER GRAYLANDS ROAD & KYLE WAY

CLAREMONT, WA

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Acquired in 2015 as part of the WA State Government’s redevelopment of the Claremont North East Precinct, the Claremont project is located 9 kilometres south-west of the Perth CBD. Claremont by Mirvac comprises 233 unique apartments across two stages (Grandstand and Reserve) set around the periphery of the iconic Claremont Oval. In 2019 the project won the UDIA Award for Excellence in Marketing, for the Rent to Buy Campaign.

Summary Information - In Progress

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ACQUISITION/AGREEMENT DATE Jan-15
LOCATION Claremont
PROJECT VALUE (INCL. GST) $152.5m
TOTAL LOTS 233
SETTLEMENT PERIOD FY19-FY23
OWNERSHIP STRUCTURE 100% Mirvac
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107

FY21 Mirvac Property Compendium

Residential Development

Western Australia

HENLEY BROOK, PARK STREET

HENLEY BROOK, WA

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Henley Brook is a future masterplanned community located 22 kilometres north-east of the Perth CBD in Perth’s fastest growing corridor and within the municipality of the City of Swan. The 33.5hectare site will comprise over 600 land lots[1] .

Summary Information - In Progress

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ACQUISITION/AGREEMENT DATE Nov-18
LOCATION Henley Brook
PROJECT VALUE (INCL. GST) $148.1m
TOTAL LOTS [1] 603
SETTLEMENT PERIOD FY22-FY26
OWNERSHIP STRUCTURE 100% Mirvac
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Indicative only and subject to change. Final lot number will depend on planning outcomes, development and construction decisions as well as market demand and conditions, including COVID-19 uncertainties.

108

FY21 Mirvac Property Compendium

Residential Development Western Australia

ILUMA PRIVATE ESTATE, MARSHALL ROAD

BENNETT SPRINGS, WA

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Iluma Private Estate is a masterplanned community within the City of Swan’s urban growth corridor, approximately 15 kilometres north-east of Perth’s CBD. The first six stages of the project are complete with the 44-hectare site ultimately providing over 600 residential dwellings[1] linked by a series of central linear public open spaces.

Summary Information - In Progress

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ACQUISITION/AGREEMENT DATE Dec-14
LOCATION Bennett Springs
PROJECT VALUE (INCL. GST) $163.1m
TOTAL LOTS [1] 623
SETTLEMENT PERIOD FY18-FY24
OWNERSHIP STRUCTURE 100% Mirvac
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Indicative only and subject to change. Final lot number will depend on planning outcomes, development and construction decisions as well as market demand and conditions, including COVID-19 uncertainties.

109

FY21 Mirvac Property Compendium

Residential Development Western Australia

MADOX, NICHOLSON ROAD

PIARA WATERS, WA

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Madox is a masterplanned community located 22 kilometres south east of the Perth CBD and is intended to deliver close to 400 lots[1] . The central open space has now been completed.

Summary Information - In Progress

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ACQUISITION/AGREEMENT DATE Feb-16
LOCATION Piara Waters
PROJECT VALUE (INCL. GST) $113.0m
TOTAL LOTS [1] 395
SETTLEMENT PERIOD FY18-FY24
OWNERSHIP STRUCTURE 100% Mirvac
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Indicative only and subject to change. Final lot number will depend on planning outcomes, development and construction decisions as well as market demand and conditions, including COVID-19 uncertainties.

110

FY21 Mirvac Property Compendium

Residential Development

Western Australia

ONE71 BALDIVIS, BALDIVIS ROAD

BALDIVIS, WA

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One71 Baldivis is a masterplanned community located 40 minutes from Perth’s CBD in the southwest corridor. The site is approximately 30 hectares and will house 414 lots[1] at completion.

Summary Information - In Progress

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ACQUISITION/AGREEMENT DATE Dec-13
LOCATION Baldivis
PROJECT VALUE (INCL. GST) $74.8m
TOTAL LOTS [1] 414
SETTLEMENT PERIOD FY16-FY28
OWNERSHIP STRUCTURE 100% Mirvac
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Indicative only and subject to change. Final lot number will depend on planning outcomes, development and construction decisions as well as market demand and conditions, including COVID-19 uncertainties.

111

FY21 Mirvac Property Compendium

Residential Development Western Australia

OSPREY WATERS, BRIDGEWATER BOULEVARD

MANDURAH, WA

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Osprey Waters is a masterplanned community located 50 minutes south of the Perth CBD and will deliver over 450 lots[1] . Additionally, the site will deliver 15 hectares of quality, landscaped public open space, 2.2 hectares of spectacular foreshore reserve, retained natural bushland, boardwalks, walking trails, playgrounds and other community spaces.

Summary Information - In Progress

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ACQUISITION/AGREEMENT DATE Dec-13
LOCATION Mandurah
PROJECT VALUE (INCL. GST) $84.0m
TOTAL LOTS [1] 462
SETTLEMENT PERIOD FY14-FY23
OWNERSHIP STRUCTURE 100% Mirvac
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Indicative only and subject to change. Final lot number will depend on planning outcomes, development and construction decisions as well as market demand and conditions, including COVID-19 uncertainties.

112

FY21 Mirvac Property Compendium

Residential Development Western Australia

THE PENINSULA, THE CIRCUS

BURSWOOD, WA

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This 17-hectare site is located within the town of Victoria Park on the Burswood Peninsula, approximately five kilometres east of Perth’s CBD. The development comprises seven apartment buildings as well as land and built form lots and is adjacent to the Crown Casino and entertainment complex and the new Perth Stadium.

Summary Information - In Progress

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ACQUISITION/AGREEMENT DATE Feb-03
LOCATION Burswood
PROJECT VALUE (INCL. GST) $838.2m
TOTAL LOTS [1] 779
SETTLEMENT PERIOD FY07-FY26
OWNERSHIP STRUCTURE 100% Mirvac
----- End of picture text -----

Indicative only and subject to change. Final lot number will depend on planning outcomes, development and construction decisions as well as market demand and conditions, including COVID-19 uncertainties.

113

FY21 Mirvac Property Compendium

important notice

Mirvac Group comprises Mirvac Limited (ABN 92 003 280 699) and Mirvac Property Trust (ARSN 086 780 645). This Property Compendium has been prepared by Mirvac Limited and Mirvac Funds Limited (ABN 70 002 561 640, AFSL number 233121) as the responsible entity of Mirvac Property Trust (collectively “Mirvac” or “Mirvac Group”). Mirvac Limited is the issuer of Mirvac Limited ordinary shares and Mirvac Funds Limited is the issuer of Mirvac Property Trust ordinary units, which are stapled together as Mirvac Group stapled securities. All dollar values are in Australian dollars (A$).

The information contained in this Property Compendium has been obtained from or based on sources believed by Mirvac Group to be reliable. To the maximum extent permitted by law, Mirvac, its affiliates, officers, employees, agents and advisors do not make any warranty, express or implied, as to the currency, accuracy, reliability or completeness of the information in this Property Compendium or that the information is suitable for your intended use and disclaim all responsibility and liability for the information (including, without limitation, liability for negligence).

This Property Compendium is not financial advice or a recommendation to acquire Mirvac Group stapled securities and has been prepared without taking into account the objectives, financial situation or needs of individuals.

Before making an investment decision prospective investors should consider the appropriateness of the information in this Property Compendium and Mirvac Group’s other periodic and continuous disclosure announcements lodged with the Australian Securities Exchange having regard to their own objectives, financial situation and needs and seek such legal, financial and/or taxation advice as they deem necessary or appropriate to their jurisdiction.

To the extent that any general financial product advice in respect of the acquisition of Mirvac Property Trust units as a component of Mirvac Group stapled securities is provided in this Property Compendium, it is provided by Mirvac Funds Limited. Mirvac Funds Limited and its related bodies corporate, and their associates, will not receive any remuneration or benefits in connection with that advice. Directors and employees of Mirvac Funds Limited do not receive specific payments of commissions for the authorised services provided under its Australian Financial Services Licence. They do receive salaries and may also be entitled to receive bonuses, depending upon performance. Mirvac Funds Limited is a wholly owned subsidiary of Mirvac Limited.

This Property Compendium contains certain “forward looking” statements. The words “anticipated”, “expected”, “projections”, “forecast”, “estimates”, “could”, “may”, “target”, “consider” and “will” and other similar expressions are intended to identify forward looking statements. Forward looking statements, opinions, valuations and estimates provided in this Property Compendium are based on assumptions and contingencies which are subject to change without notice, as are statements about market and industry trends, which are based on interpretations of current market conditions. Forward-looking statements including projections, indications or guidance on future earnings or financial position and estimates are provided as a general guide only and should not be relied upon as an indication or guarantee of future performance. There can be no assurance that actual outcomes will not differ materially from these statements. To the full extent permitted by law, Mirvac Group and its directors, officers, employees, advisers, agents and intermediaries disclaim any obligation or undertaking to release any updates or revisions to the information to reflect any change in expectations or assumptions.

An investment in Mirvac Group stapled securities is subject to investment and other known and unknown risks, some of which are beyond the control of Mirvac Group, including possible delays in repayment and loss of income and principal invested. Mirvac does not guarantee any particular rate of return or the performance of Mirvac Group nor does it guarantee the repayment of capital from Mirvac Group or any particular tax treatment.

Past performance information given in this Property Compendium is given for illustrative purposes only and should not be relied upon as (and is not) an indication of future performance.

This Property Compendium is not an offer or an invitation to acquire Mirvac Group stapled securities or any other financial products and is not a prospectus, product disclosure statement or other offering document under Australian law or any other law. It is for information purposes only.

The information contained in this Property Compendium is dated 30 June 2021, unless otherwise stated.

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LOCOMOTIVE WORKSHOP SOUTH EVELEIGH, SYDNEY
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MIRVAC GROUP

Level 28, 200 George Street Sydney NSW 2000

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TWITTER WEBSITE PHONE EMAIL @mirvac mirvac.com +61 2 9080 8000 [email protected]

AI assistant

MIRVAC GROUP — Annual Report 2021

65328_rns_2021-08-11_7f338072-1429-425c-adbb-73c26a291809.pdf

property compendium FY21

in vestment dustrial overview THE FOUNDRY, SOUTH EVELEIGH, SYDNEY

Investment Overview

Property Portfolio

Property Portfolio Diversification

Sector Diversification[4]

Geographic Diversification[4]

Lease Expiry Profile[5]

Total Portfolio

Office Portfolio

Office

Grade Diversification[1]

Geographic Diversification[2]

Investment Property Office

101-103 MILLER STREET

NORTH SYDNEY, NSW

Investment Property Office

40 MILLER STREET

NORTH SYDNEY, NSW

Investment Property Office

10-20 BOND STREET SYDNEY, NSW

Summary Information

Investment Property Office

200 GEORGE STREET

SYDNEY, NSW

Summary Information

Investment Property Office

275 KENT STREET SYDNEY, NSW

Summary Information

Investment Property Office

60 MARGARET STREET

SYDNEY, NSW

Summary Information

Investment Property Office

QUAY WEST CAR PARK, 109-111 HARRINGTON STREET

SYDNEY, NSW

Investment Property Office

SOUTH EVELEIGH PRECINCT

EVELEIGH, NSW

Summary Information

Investment Property Office

75 GEORGE STREET

PARRAMATTA, NSW

Investment Property Office

1 DARLING ISLAND PYRMONT, NSW

Investment Property Office

65 PIRRAMA ROAD

PYRMONT, NSW

Summary Information

Investment Property Office

699 BOURKE STREET

MELBOURNE, VIC

Summary Information

Investment Property Office

90 COLLINS STREET

MELBOURNE, VIC

Summary Information

Investment Property Office

367 COLLINS STREET

MELBOURNE, VIC

Summary Information

Investment Property Office

OLDERFLEET 477 COLLINS STREET

MELBOURNE, VIC

Summary Information

Investment Property Office

664 COLLINS STREET

MELBOURNE, VIC

Summary Information

Investment Property Office

383 LA TROBE STREET

MELBOURNE, VIC

Investment Property Office

380 ST KILDA ROAD

MELBOURNE, VIC

Summary Information

Investment Property Office

MIRVAC GROUP Annual Report 2021