==> picture [109 x 61] intentionally omitted <==

PC

mirvaC is a leading asx-listed real estate grouP

==> picture [596 x 701] intentionally omitted <==

mirvac group PROPERTY COMPENDIUM 01

==> picture [596 x 701] intentionally omitted <==

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

Core divisions
investment
develoPment
----- End of picture text -----

02 mirvac group PROPERTY COMPENDIUM

60 margaret street, sydney, nsW

investment

==> picture [596 x 701] intentionally omitted <==

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

74 investment
grade assets
indireCt real estate
investments
----- End of picture text -----

04 mirvac group PROPERTY COMPENDIUM

investment

101 miller street, nortH sydney, nsW

MIRVAC PROPERTY TRUST PORTFOLIO REPOSITIONING

6 MONTHS TO DeceMber 2009

			31 DEcEmbEr 09	31 DEcEmbEr 09
DEvELopmENT compLETioNS	LocaTioN	SEcTor	booK vaLuE	cap raTE
ManningMall	Taree, NSW	Retail	$32.8m	9.00%

MIRVAC PROPERTY TRUST PORTFOLIO EXPIRY PROFILE[ 1]

==> picture [365 x 301] intentionally omitted <==

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

70 AREA %
60
50
40
30
20
10
TOTAL PORTFOLIO 0 RETAIL PORTFOLIO
1,329,423 sqm 558,799 sqm
WALE 5.47 years WALE 5.71 years
70 AREA %
60
50
40
30
20
COMMERCIAL 10 INDUSTRIAL
PORTFOLIO 0 PORTFOLIO
436,595 sqm 334,029 sqm
WALE 5.77 years WALE 4.7 years
VACANT FY10 FY11 FY12 FY13 FY14 BEYOND
VACANT FY10 FY11 FY12 FY13 FY14 BEYOND
----- End of picture text -----

==> picture [129 x 301] intentionally omitted <==

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

70 AREA %
60
50
40
30
20
10
0
70 AREA %
60
50
40
30
20
10
0
VACANT FY10 FY11 FY12 FY13 FY14 BEYOND
VACANT FY10 FY11 FY12 FY13 FY14 BEYOND
----- End of picture text -----

1 BY AREA AS AT 31 DEcEMBER 2009.

2 EXcLUDES ASSETS UNDER DEVELOPMENT.

MIRVAC PROPERTY TRUST PORTFOLIO DIVERSIFICATION

==> picture [101 x 101] intentionally omitted <==

		SECTOR
	DIVERSIFICATION		1
■	COMMERCIAL	42.5%
■	INDUSTRIAL	9.3%
■	RETAIL	40.9%
■	OTHER	2.0%	3
■	INDIRECT PROPERTY
	INVESTMENTS	5.3%

==> picture [101 x 101] intentionally omitted <==

		GEOGRAPHIC
		DIVERSIFICATION	2
■	NSW	55.7%
■	VIC	19.6%
■	QLD	18.0%
■	WA	0.6%
■	ACT	5.3%
■	US	0.8%

1 BY BOOK VALUE AS AT 31 DEcEMBER 2009. EXcLUDES DEVELOPMENT ASSETS.

2 BY BOOK VALUE AS AT 31 DEcEMBER 2009. EXcLUDES DEVELOPMENT ASSETS AND iNDiREcT PROPERTY iNVESTMENTS. 3 OTHER – iNcLUDES HOTEL AND cARPARKS.

06 mirvac group PROPERTY COMPENDIUM

CommerCial Portfolio

INVESTMENT

==> picture [568 x 435] intentionally omitted <==

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

one darling island, Pyrmont, nsW
----- End of picture text -----

==> picture [106 x 101] intentionally omitted <==

GRADE

DIVERSIFICATION[1]

■	PREMIUM	9.4%
■	AGRADE	79.7%
■	BGRADE	9.5%
■	C GRADE	1.4%

==> picture [105 x 101] intentionally omitted <==

GEOGRAPHIC DIVERSIFICATION[1]

■	NSW	59.0%
■	VIC	21.5%
■	QLD	10.2%
■	ACT	9.3%

1 BY BOOK VALUE AS AT 31 DEcEMBER 2009. EXcLUDES DEVELOPMENT ASSETS AND iNDiREcT PROPERTY iNVESTMENTS.

					07 i
			% oF
			commErciaL
			porTFoLio	groSS	vaLuaTioN aT
propErTy	LocaTioN	NLa	booK vaLuE1	oFFicE rENT	31 DEc 09
101 – 103 Miller Street	North Sydney,NSW	37,758 sqm	9.3%	$627/sqm	$170.0m2
40 Miller Street	North Sydney,NSW	12,664 sqm	4.9%	$615/sqm	$90.0m
60 Margaret Street	Sydney,NSW	40,567 sqm	8.6%	$666/sqm	$157.5m2
1 castlereagh Street	Sydney,NSW	11,637 sqm	3.5%	$564/sqm	$64.3m
190 George Street	Sydney,NSW	9,498 sqm	2.0%	$461/sqm	$36.8m
200 George Street	Sydney,NSW	5,579 sqm	1.3%	$422/sqm	$24.8m
One Darlingisland	Pyrmont,NSW	22,197 sqm	8.4%	$509/sqm	$155.0m
Baycentre Pirrama Road	Pyrmont,NSW	15,972 sqm	5.2%	$502/sqm	$95.0m
3 Rider Boulevard	Rhodes,NSW	16,714 sqm	3.9%	$366/sqm	$71.0m
5 Rider Boulevard	Rhodes,NSW	25,198 sqm	5.6%	$357/sqm	$102.5m
St George centre,60 Marcus clarke Street	canberra,AcT	12,165 sqm	2.8%	$445/sqm	$52.0m
Aviation House,16 Furzer Street	canberra,AcT	14,828 sqm	3.5%	$380/sqm	$64.5m
54 Marcus clarke Street	canberra,AcT	5,276 sqm	0.9%	$421/sqm	$17.0m
38 SydneyAvenue	Forrest,AcT	9,099 sqm	2.0%	$411/sqm	$37.5m
189 GreyStreet	South Bank,QLD	12,728 sqm	3.4%	$360/sqm	$62.3m
John Oxleycentre,339 coronation Drive	Brisbane,QLD	13,172 sqm	2.9%	$383/sqm	$53.5m
340 Adelaide Street	Brisbane,QLD	13,290 sqm	3.2%	$452/sqm	$58.0m
12 cribb Street	Milton,QLD	3,310 sqm	0.7%	$508/sqm	$13.3m
Riverside QuaySouthbank	Melbourne,Vic	31,555 sqm	6.7%	$390/sqm	$123.3m
Royal Domain centre,380 St Kilda Road	Melbourne,Vic	24,616 sqm	5.5%	$375/sqm	$101.5m
como centre,cnr Toorak Road & chapel Street	South Yarra,Vic	25,547 sqm	4.2%	$380/sqm	$76.8m
191 – 197 Salmon Street	Port Melbourne,Vic	21,762 sqm	5.1%	$356/sqm	$93.0m
ToTaL		436,595 sqm 3	100.0%		$1,834.5m1,3
WEIGHTED AVERAGE LEASE EXPIRY					5.77 YEARS 4
OCCUPANCY					96.8% 4

			ForEcaST %
			oF commErciaL
			porTFoLio	groSS	acquiSiTioN
propErTy	LocaTioN	NLa	booK vaLuE1	oFFicE rENT	pricE
23 Furzer Street5	canberra,AcT	46,167 sqm	10.2%	$395/sqm	$208.8m
ToTaL		477,762 sqm 3			$2,043.2m 3

1 BOOK VALUE AS AT 31 DEcEMBER 2009. EXcLUDES DEVELOPMENT PROJEcTS.

2 BOOK VALUE REPRESENTS 50% iNTEREST.

5 AcQUiRED 1 FEBRUARY 2010.

3 iNcLUDES ASSETS HELD FOR DEVELOPMENT (SEE PAGE 100).

4 EXcLUDES ASSETS UNDER DEVELOPMENT.

08 mirvac group PROPERTY COMPENDIUM

CommerCial Portfolio

INVESTMENT

==> picture [255 x 143] intentionally omitted <==

101 – 103 miller street, nortH sydney, nsW

==> picture [256 x 143] intentionally omitted <==

40 miller street, nortH sydney, nsW

DEScripTioN

This landmark premium grade office tower and major retail centre, is located 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 a major refurbishment in 2008. The building was the first existing premium tower to achieve a 5 star GreenStar rating and is designed to achieve a 5 star NABERS rating.

Summary iNFormaTioN

DEScripTioN

Developed by Mirvac in 2000, the building is located adjacent to North Sydney Railway Station and enjoys commanding views of the harbour from all 11 commercial levels. Outdoor balconies provide an additional amenity for building occupiers.

Summary iNFormaTioN

Summary iNFormaTioN	Summary iNFormaTioN
GRADE Premium Grade	GRADE A Grade
OWNERSHiP 50% MPT, 50% EUREKA	OWNERSHiP 100% MPT
NLA 37,758 sqm	NLA 12,664 sqm
cAR SPAcES 561	cAR SPAcES 110
AcQUiSiTiON DATE Jun 94	AcQUiSiTiON DATE Mar 98
VALUATiON AT 31 DEc 09 $170.0m	VALUATiON AT 31 DEc 09 $90.0m
VALUER DiREcTORS VALUATiON	VALUER M3
LAST EXTERNAL VALUATiON DATE 31 Dec 08	LAST EXTERNAL VALUATiON DATE 31 Dec 09
cAPiTALiSATiON RATE 7.00%	cAPiTALiSATiON RATE 7.75%
DiScOUNT RATE 9.00%	DiScOUNT RATE 9.25%
GROSS OFFicE RENT $627/sqm	GROSS OFFicE RENT $615/sqm
maJor TENaNTS NLa Sqm LEaSE EXpiry	maJor TENaNTS NLa Sqm LEaSE EXpiry
RTA 15,614 Jul 16	UNiTED GROUP LiMiTED 10,935 Nov 15
cOMMONWEALTH OF AUSTRALiA 7,492 Jul 18	TiBcO SOFTWARE AUST 980 Oct 12

LEaSE EXpiry proFiLE % arEa	LEaSE EXpiry proFiLE % arEa	LEaSE EXpiry proFiLE % arEa
VAcANcY 3.4%	VAcANcY 0.0%
FY10 0.0%	FY10 0.0%

FY11 0.0%	FY11 0.7%
FY12 0.0%	FY12 1.7%
FY13 0.9%	FY13 11.2%
FY14 22.0%	FY14 0.0%
BEYOND 73.7%	BEYOND 86.3%
WALE 6.3 YEARS	WALE 5.39 YEARS

==> picture [256 x 143] intentionally omitted <==

60 margaret street, sydney, nsW

==> picture [256 x 143] intentionally omitted <==

1 CastlereagH street, sydney, nsW

DEScripTioN

This iconic building is situated in the heart of the Sydney cBD and comprises 36 levels of office accommodation and three levels of retailing with direct access to Wynyard Railway Station and Bus Terminal. Developed in 1980, the complex has been progressively refurbished and is the head office of Mirvac Group.

DEScripTioN

Located in the centre of Sydney’s financial core, the building offers modern office accommodation with 549 sqm floor plates and direct natural light on three sides. The 21 level building was fully refurbished in 1992 with further partial refurbishment completed in 2007.

Summary iNFormaTioN

Summary iNFormaTioN
GRADE		A Grade
OWNERSHiP		50% MPT, 50% MTAA
NLA		40,567 sqm
cAR SPAcES		141
AcQUiSiTiON DATE		Aug98
VALUATiON AT 31 DEc 09		$157.5m
VALUER		DiREcTORS VALUATiON
LAST EXTERNAL VALUATiON	DATE	31 Dec 08
cAPiTALiSATiON RATE		7.00%
DiScOUNT RATE		9.00%
GROSS OFFicE RENT		$666/sqm
maJor TENaNTS	NLa Sqm	LEaSE EXpiry
MiRVAc	8,173	Sep15
REUTERS AUSTRALiA	5,384	Feb 15

Summary iNFormaTioN
GRADE		B Grade
OWNERSHiP		100% MPT
NLA		11,637 sqm
cAR SPAcES		52
AcQUiSiTiON DATE		Dec 98
VALUATiON AT 31 DEc 09		$64.3m
VALUER		DiREcTORS VALUATiON
LAST EXTERNAL VALUATiON	DATE	30 Jun 09
cAPiTALiSATiON RATE		8.00%
DiScOUNT RATE		9.50%
GROSS OFFicE RENT		$564/sqm
maJor TENaNTS	NLa Sqm	LEaSE EXpiry
i00F GLOBAL ONE	2,744	Apr 10
MAcTHORPE SERVicES	627	Jan 15

LEaSE EXpiry proFiLE % arEa	LEaSE EXpiry proFiLE % arEa
VAcANcY 1.3%	VAcANcY 9.8%
FY10 1.6%	FY10 26.9%
FY11 5.1%	FY11 13.7%
FY12 23.6%	FY12 15.4%
FY13 11.8%	FY13 12.0%
FY14 8.0%	FY14 7.5%
BEYOND 48.6%	BEYOND 14.8%
WALE 4.17 YEARS	WALE 5.26 YEARS

10 mirvac group PROPERTY COMPENDIUM

CommerCial Portfolio

INVESTMENT

==> picture [256 x 143] intentionally omitted <==

190 george street, sydney, nsW

==> picture [255 x 143] intentionally omitted <==

200 george street, sydney, nsW

DEScripTioN

This is a strategic holding, giving Mirvac a presence in a prominent area of the Sydney cBD, which has potential for commercial redevelopment. The site has been consolidated with the adjoining building owned by Mirvac.

DEScripTioN

Summary iNFormaTioN

Summary iNFormaTioN	Summary iNFormaTioN
GRADE B Grade	GRADE c Grade
OWNERSHiP 100% MPT	OWNERSHiP 100% MPT
NLA 9,498 sqm	NLA 5,579 sqm
cAR SPAcES 30	cAR SPAcES 15
AcQUiSiTiON DATE Aug03	AcQUiSiTiON DATE Oct 01
VALUATiON AT 31 DEc 09 $36.8m	VALUATiON AT 31 DEc 09 $24.8m
VALUER KNiGHT FRANK	VALUER KNiGHT FRANK
LAST EXTERNAL VALUATiON DATE 31 Dec 09	LAST EXTERNAL VALUATiON DATE 31 Dec 09
cAPiTALiSATiON RATE 8.50%	cAPiTALiSATiON RATE 8.25%
DiScOUNT RATE 9.50%	DiScOUNT RATE 9.50%
GROSS OFFicE RENT $461/sqm	GROSS OFFicE RENT $422/sqm
maJor TENaNTS NLa Sqm LEaSE EXpiry	maJor TENaNTS NLa Sqm LEaSE EXpiry
cLiFTONS 3,405 Dec 14	cLiFTONS 1,787 Dec 14
DOWNER EDi LTD 1,703 Aug11	ARAB BANK 1,226 Dec 14

LEaSE EXpiry proFiLE % arEa	LEaSE EXpiry proFiLE % arEa
VAcANcY 0.0%	VAcANcY 1.7%
FY10 9.1%	FY10 9.5%

FY11 11.6%	FY11 17.5%
FY12 27.5%	FY12 0.0%
FY13 6.1%	FY13 15.5%
FY14 0.0%	FY14 1.9%
BEYOND 45.8%	BEYOND 54.0%
WALE 3.17 YEARS	WALE 3.4 YEARS

==> picture [256 x 143] intentionally omitted <==

one darling island, Pyrmont, nsW

==> picture [256 x 143] intentionally omitted <==

Bay Centre Pirrama road, Pyrmont, nsW

DEScripTioN

Developed by Mirvac in 2006, this A Grade office campus comprises six office floors, with two basement parking levels. Situated on the cBD fringe close to the waterfront, the building features large floor plates of greater than 4,400 sqm and has achieved a 4.5 star NABERS rating.

DEScripTioN

Developed by Mirvac in 2002, the building comprises five office levels and is located adjacent to Darling Harbour. The building has large floor plates in excess of 3,000 sqm with harbour and city views from all levels. The building has recently achieved a 5 star NABERS rating.

Summary iNFormaTioN

Summary iNFormaTioN
GRADE		A Grade
OWNERSHiP		100% MPT
NLA		22,197 sqm
cAR SPAcES		160
AcQUiSiTiON DATE		Apr 04
VALUATiON AT 31 DEc 09		$155.0m
VALUER		DiREcTORS VALUATiON
LAST EXTERNAL VALUATiON	DATE	31 Dec 08
cAPiTALiSATiON RATE		7.25%
DiScOUNT RATE		9.25%
GROSS OFFicE RENT		$509/sqm
maJor TENaNTS	NLa Sqm	LEaSE EXpiry
JOHN FAiRFAX HOLDiNGS	22,197	Jun 27

Summary iNFormaTioN
GRADE		A Grade
OWNERSHiP		100% MPT
NLA		15,972 sqm
cAR SPAcES		127
AcQUiSiTiON DATE		Jun 01
VALUATiON AT 31 DEc 09		$95.0m
VALUER		cBRE
LAST EXTERNAL VALUATiON	DATE	30 Sep09
cAPiTALiSATiON RATE		8.00%
DiScOUNT RATE		9.25%
GROSS OFFicE RENT		$502/sqm
maJor TENaNTS	NLa Sqm	LEaSE EXpiry
iAG	11,803	Oct 13
VEOLiA	3,574	Dec 12

LEaSE EXpiry proFiLE % arEa	LEaSE EXpiry proFiLE % arEa	LEaSE EXpiry proFiLE % arEa
VAcANcY	0.0%
FY10	0.0%
FY11	0.0%
FY12	0.0%
FY13	0.0%
FY14	0.0%
BEYOND	100.0%
WALE	17.51	YEARS

LEaSE EXpiry proFiLE % arEa	LEaSE EXpiry proFiLE % arEa	LEaSE EXpiry proFiLE % arEa
VAcANcY	0.0%
FY10	0.0%
FY11	0.0%
FY12	0.0%
FY13	23.1%
FY14	73.9%
BEYOND	3.0%
WALE	3.69	YEARS

12 mirvac group PROPERTY COMPENDIUM

CommerCial Portfolio

INVESTMENT

==> picture [256 x 143] intentionally omitted <==

3 rider Boulevard, rHodes, nsW

==> picture [256 x 143] intentionally omitted <==

5 rider Boulevard, rHodes, nsW

DEScripTioN

Located within the Rhodes Waterside development, 3 Rider Boulevard is a modern, seven level office building with three retail shops on the ground floor. completed in late 2005, the building features large and flexible floor plates and a 4 star NABERS rating.

DEScripTioN

Developed by Mirvac in 2008, 5 Rider Boulevard is located within the Rhodes Waterside development. The property comprises a modern 14 level commercial office building including four levels of basement parking. The building is designed to achieve a 4.5 star NABERS rating.

Summary iNFormaTioN

Summary iNFormaTioN
GRADE		A Grade
OWNERSHiP		100%
NLA		16,714 sqm
cAR SPAcES		326
AcQUiSiTiON DATE		Dec 09
VALUATiON AT 31 DEc 09		$71.0m
VALUER		DiREcTORS VALUATiON
LAST EXTERNAL VALUATiON	DATE	30 Jun 09
cAPiTALiSATiON RATE		8.00%
DiScOUNT RATE		9.50%
GROSS OFFicE RENT		$366/sqm
maJor TENaNTS	NLa Sqm	LEaSE EXpiry
AAP	3,642	Sep20
cARDLiNK SERVicES	2,216	Mar 16

Summary iNFormaTioN
GRADE		A Grade
OWNERSHiP		100% MPT
NLA		25,198 sqm
cAR SPAcES		495
AcQUiSiTiON DATE1		Jan 07
VALUATiON AT 31 DEc 09		$102.5m
VALUER		DiREcTORS VALUATiON
LAST EXTERNAL VALUATiON DATE		28 Feb 09
cAPiTALiSATiON RATE		8.00%
DiScOUNT RATE		9.75%
GROSS OFFicE RENT		$357/sqm
maJor TENaNTS	NLa Sqm	LEaSE EXpiry
ALcATEL –	2,466 and	Mar 10 and
LUcENT AUSTRALiA LiMiTED	15,415	Dec 18
FOSTERS AUSTRALiA LiMiTED	3,682	Nov 15

LEaSE EXpiry proFiLE % arEa	LEaSE EXpiry proFiLE % arEa
VAcANcY 7.8%	VAcANcY 0.0%
FY10 0.0%	FY10 9.8%

FY11 15.1%	FY11 0.0%
FY12 7.6%	FY12 0.0%
FY13 15.5%	FY13 1.7%
FY14 6.2%	FY14 0.0%
BEYOND 47.9%	BEYOND 88.5%
WALE 5.24 YEARS	WALE 7.16 YEARS

1 DEVELOPMENT cOMPLETED iN JANUARY 2009.

==> picture [256 x 143] intentionally omitted <==

st george Centre 60 marCus Clarke street, CanBerra, aCt

==> picture [256 x 143] intentionally omitted <==

aviation House 16 furzer street, CanBerra, aCt

DEScripTioN

The St George centre is one of canberra’s landmark buildings and was constructed in 1988. it comprises 13 office levels, undercover parking to the rear and a four level annex providing podium floors of 1,300 sqm and tower floors of 900 sqm.

DEScripTioN

Aviation House is well located in Woden and comprises nine levels of office accommodation, a café on ground level and two levels of basement parking. The building was completed in 2007 and features A Grade services, large floor plates, abundant natural light and a north-facing rooftop balcony. The building currently holds a 4.5 star NABERS rating.

Summary iNFormaTioN

Summary iNFormaTioN	Summary iNFormaTioN
GRADE A Grade	GRADE A Grade
OWNERSHiP 100% MPT	OWNERSHiP 100% MPT
NLA 12,165 sqm	NLA 14,828 sqm
cAR SPAcES 134	cAR SPAcES 154
AcQUiSiTiON DATE Sep89	AcQUiSiTiON DATE Jul 07
VALUATiON AT 31 DEc 09 $52.0m	VALUATiON AT 31 DEc 09 $64.5m
VALUER DiREcTORS VALUATiON	VALUER cBRE
LAST EXTERNAL VALUATiON DATE 30 Jun 09	LAST EXTERNAL VALUATiON DATE 31 Dec 09
cAPiTALiSATiON RATE 8.50%	cAPiTALiSATiON RATE 8.00%
DiScOUNT RATE 9.00%	DiScOUNT RATE 9.25%
GROSS OFFicE RENT $445/sqm	GROSS OFFicE RENT $380/sqm
maJor TENaNTS NLa Sqm LEaSE EXpiry	maJor TENaNTS NLa Sqm LEaSE EXpiry
DEST 1,331 Apr 11	cASA 8,004 Dec 22
ST GEORGE BANK 1,321 Oct 10	APSc 3,992 Feb 22

LEaSE EXpiry proFiLE % arEa	LEaSE EXpiry proFiLE % arEa
VAcANcY 10.5%	VAcANcY 0.0%
FY10 1.0%	FY10 0.0%
FY11 35.3%	FY11 0.0%
FY12 11.2%	FY12 1.1%
FY13 8.2%	FY13 0.0%
FY14 24.6%	FY14 0.0%
BEYOND 9.2%	BEYOND 98.9%
WALE 2.29 YEARS	WALE 11.07 YEARS

14 mirvac group PROPERTY COMPENDIUM

CommerCial Portfolio

INVESTMENT

==> picture [256 x 143] intentionally omitted <==

54 marCus Clarke street, CanBerra, aCt

==> picture [256 x 143] intentionally omitted <==

38 sydney avenue, forrest, aCt

DEScripTioN

constructed in 1986, the building comprises nine office levels, ground level retail, one level basement parking and is located in the corporate heart of the cBD. The floor plates of approximately 600 sqm provide excellent natural light and quality views from the upper levels.

DEScripTioN

Purpose built for the commonwealth Government in 1997, the building comprises four office levels, with excellent natural light and large floor plates of approximately 2,100 sqm to 2,400 sqm. The building is well located close to the Parliamentary Triangle.

Summary iNFormaTioN

Summary iNFormaTioN	Summary iNFormaTioN
GRADE B Grade	GRADE A Grade
OWNERSHiP 100% MPT	OWNERSHiP 100% MPT
NLA 5,276 sqm	NLA 9,099 sqm
cAR SPAcES 48	cAR SPAcES 68
AcQUiSiTiON DATE Oct 87	AcQUiSiTiON DATE Jun 96
VALUATiON AT 31 DEc 09 $17.0m	VALUATiON AT 31 DEc 09 $37.5m
VALUER DiREcTORS VALUATiON	VALUER DiREcTORS VALUATiON
LAST EXTERNAL VALUATiON DATE 31 Dec 08	LAST EXTERNAL VALUATiON DATE 31 Dec 08
cAPiTALiSATiON RATE 9.50%	cAPiTALiSATiON RATE 8.75%
DiScOUNT RATE 9.75%	DiScOUNT RATE 9.25%
GROSS OFFicE RENT $421/sqm	GROSS OFFicE RENT $411/sqm
maJor TENaNTS NLa Sqm LEaSE EXpiry	maJor TENaNTS NLa Sqm LEaSE EXpiry
HUDSON GLOBAL RESOURcES 624 Jul 13	DBcDE 8,975 Nov 12
HAYS 624 Sep11

LEaSE EXpiry proFiLE % arEa	LEaSE EXpiry proFiLE % arEa	LEaSE EXpiry proFiLE % arEa
VAcANcY 43.0%	VAcANcY 0.0%
FY10 6.9%	FY10 0.0%

FY11 10.6%	FY11 1.4%
FY12 18.2%	FY12 0.0%
FY13 3.0%	FY13 98.6%
FY14 11.8%	FY14 0.0%
BEYOND 6.6%	BEYOND 0.0%
WALE 1.3 YEARS	WALE 2.87 YEARS

==> picture [256 x 143] intentionally omitted <==

189 grey street soutH Bank, BrisBane, Qld

==> picture [256 x 143] intentionally omitted <==

JoHn oxley Centre 339 Coronation drive, BrisBane, Qld

DEScripTioN

This 12 level complex was developed by Mirvac in 2005. The building features excellent natural light, large efficient floor plates of approximately 1,600 sqm and spectacular river and city views. The South Bank precinct provides the benefits of the parklands, retail services and public transport.

DEScripTioN

A campus style commercial office building with five levels of office accommodation and two levels of basement parking. Large floor plates across the two towers connect to provide approximately 2,700 sqm floor plates. constructed in 1989, the building is well located on coronation Drive with views across the Brisbane River to the cBD.

Summary iNFormaTioN

Summary iNFormaTioN
GRADE		A Grade
OWNERSHiP		100% MPT
NLA		12,728 sqm
cAR SPAcES		180
AcQUiSiTiON DATE		Apr 04
VALUATiON AT 31 DEc 09		$62.3m
VALUER		DiREcTORS VALUATiON
LAST EXTERNAL VALUATiON	DATE	31 Mar 09
cAPiTALiSATiON RATE		8.00%
DiScOUNT RATE		9.25%
GROSS OFFicE RENT		$360/sqm
maJor TENaNTS	NLa Sqm	LEaSE EXpiry
iAG	7,281	Mar 15
THiESS PTY LTD	4,659	Feb 13

Summary iNFormaTioN
GRADE			B Grade
OWNERSHiP			100% MPT
NLA			13,172 sqm
cAR SPAcES			319
AcQUiSiTiON DATE			May02
VALUATiON AT 31 DEc 09			$53.5m
VALUER			DiREcTORS VALUATiON
LAST EXTERNAL VALUATiON	DATE		31 Mar 09
cAPiTALiSATiON RATE			9.00%
DiScOUNT RATE			9.25%
GROSS OFFicE RENT			$383/sqm
maJor TENaNTS	NLa	Sqm	LEaSE EXpiry
ORiGiN ENERGY		8,492	Jun 18
AUSTRALiA POST cORPORATiON		1,661	Jun 10

LEaSE EXpiry proFiLE % arEa	LEaSE EXpiry proFiLE % arEa
VAcANcY 0.0%	VAcANcY 0.0%
FY10 3.6%	FY10 12.6%
FY11 0.0%	FY11 9.7%
FY12 2.6%	FY12 0.0%
FY13 36.6%	FY13 10.7%
FY14 0.0%	FY14 2.6%
BEYOND 57.2%	BEYOND 64.5%
WALE 4.15 YEARS	WALE 6.04 YEARS

16 mirvac group PROPERTY COMPENDIUM

CommerCial Portfolio

INVESTMENT

==> picture [256 x 143] intentionally omitted <==

340 adelaide street, BrisBane, Qld

==> picture [256 x 143] intentionally omitted <==

12 CriBB street, milton, Qld

DEScripTioN

340 Adelaide Street is a modern 17 level office building with two levels of basement parking and is located in the heart of the Brisbane cBD. The building is currently undergoing a refurbishment to increase the NABERS rating to a targeted 4.5 stars.

DEScripTioN

A six level office building comprising five upper levels of office and ground floor office/retail. The property is conveniently located approximately 260 metres south east of Milton Railway Station and approximately two kilometres west of the Brisbane cBD.

Summary iNFormaTioN

Summary iNFormaTioN
GRADE			A Grade
OWNERSHiP			100%
NLA			13,290 sqm
cAR SPAcES			100
AcQUiSiTiON DATE			Dec 09
VALUATiON AT 31 DEc 09			$58.0m
VALUER		DiREcTORS VALUATiON
LAST EXTERNAL VALUATiON DATE			30 Jun 09
cAPiTALiSATiON RATE			9.00%
DiScOUNT RATE			9.50%
GROSS OFFicE RENT			$452/sqm
maJor TENaNTS	NLa	Sqm	LEaSE EXpiry
DEPARTMENT OF HEALTH AND AGEiNG		2,964	Jun 10
AUSTRALiAN GOVERNMENT SOLiciTORS		1,724	Mar 11

Summary iNFormaTioN
GRADE		A Grade
OWNERSHiP		100%
NLA		3,310 sqm
cAR SPAcES		51
AcQUiSiTiON DATE		Dec 09
VALUATiON AT 31 DEc 09		$13.3m
VALUER		cBRE
LAST EXTERNAL VALUATiON	DATE	31 Dec 09
cAPiTALiSATiON RATE		9.00%
DiScOUNT RATE		10.25%
GROSS OFFicE RENT		$508/sqm
maJor TENaNTS	NLa Sqm	LEaSE EXpiry
AEcOM AUSTRALiA	3,226	Jan 14

LEaSE EXpiry proFiLE % arEa	LEaSE EXpiry proFiLE % arEa
VAcANcY 11.9%	VAcANcY 0.0%
FY10 24.4%	FY10 0.0%

FY11 17.9%	FY11 0.0%
FY12 13.6%	FY12 0.0%
FY13 2.4%	FY13 0.0%
FY14 17.5%	FY14 100.0%
BEYOND 12.2%	BEYOND 0.0%
WALE 2.06 YEARS	WALE 4.09 YEARS

==> picture [256 x 143] intentionally omitted <==

riverside Quay soutHBank, melBourne, viC

==> picture [256 x 143] intentionally omitted <==

royal domain Centre 380 st kilda road, melBourne, viC

DEScripTioN

A modern office complex comprising three separate buildings with ground floor retail and a single level of basement parking. The buildings have excellent natural light with views across the Yarra River and the cBD. A separate building at the rear incorporates a 560 space car park. The ground floor retail space is currently undergoing a significant refurbishment program.

This 15 level office building comprises six podium levels of up to 2,800 sqm with tower floors of 1,200 sqm. Prominently located at the city end of St Kilda Road and opposite the Royal Botanical Gardens, the building has excellent natural light and views to Port Phillip Bay. The building is the head office of Mirvac Victoria.

Summary iNFormaTioN

Summary iNFormaTioN
GRADE			A Grade
OWNERSHiP			100% MPT
NLA			31,555 sqm
cAR SPAcES			164
AcQUiSiTiON DATE			Apr 02(1&3)& Jul 03(2)
VALUATiON AT 31 DEc 09			$123.3m
VALUER			DiREcTORS VALUATiON
LAST EXTERNAL VALUATiON DATE			30 Jun 09
cAPiTALiSATiON RATE			8.25%
DiScOUNT RATE			9.25%
GROSS OFFicE RENT			$390/sqm
maJor TENaNTS	NLa	Sqm	LEaSE EXpiry
TELSTRA cORPORATiON 724, 2,368,		2,681	Apr 10, Jun 10, Jun 11
URS AUSTRALiA		3,939	Feb 14

Summary iNFormaTioN
GRADE		A Grade
OWNERSHiP		100% MPT
NLA		24,616 sqm
cAR SPAcES		489
AcQUiSiTiON DATE	Oct 95(50%)Apr 01(50%)
VALUATiON AT 31 DEc 09		$101.5m
VALUER		DiREcTORS VALUATiON
LAST EXTERNAL VALUATiON	DATE	30 Jun 09
cAPiTALiSATiON RATE		8.50%
DiScOUNT RATE		9.50%
GROSS OFFicE RENT		$375/sqm
maJor TENaNTS	NLa Sqm	LEaSE EXpiry
cOMPUTER ASSOciATES	4,313	Aug15
TOLL TRANSPORT	3,951	Nov 12

LEaSE EXpiry proFiLE % arEa	LEaSE EXpiry proFiLE % arEa
VAcANcY 6.1%	VAcANcY 0.0%
FY10 14.5%	FY10 0.6%
FY11 14.5%	FY11 0.0%
FY12 15.4%	FY12 16.8%
FY13 5.4%	FY13 31.2%
FY14 21.2%	FY14 21.3%
BEYOND 22.9%	BEYOND 30.2%
WALE 3.14 YEARS	WALE 4.06 YEARS

18 mirvac group PROPERTY COMPENDIUM

CommerCial Portfolio

INVESTMENT

==> picture [256 x 143] intentionally omitted <==

Como Centre, Corner toorak road & CHaPel street, soutH yarra, viC

==> picture [256 x 143] intentionally omitted <==

191 – 197 salmon street Port melBourne, viC

DEScripTioN

The complex includes office accommodation across three towers, a retail centre of 30 shops and a cinema. The five star 107 room como Hotel and commercial car park complement the landmark complex.

DEScripTioN

Headquarters for GM Holden Ltd, the building is designed in a campus style with floor plates greater than 7,000 sqm each. The building was purpose built for GM Holden and was completed in April 2005.

Summary iNFormaTioN

Summary iNFormaTioN
GRADE		A Grade
OWNERSHiP		100% MPT
NLA		25,547 sqm
cAR SPAcES		621
AcQUiSiTiON DATE		Aug98
VALUATiON AT 31 DEc 09		$76.8m
VALUER		DiREcTORS VALUATiON
LAST EXTERNAL VALUATiON	DATE	30 Jun 09
cAPiTALiSATiON RATE		8.50%
DiScOUNT RATE		9.25%
GROSS OFFicE RENT		$380/sqm
maJor TENaNTS	NLa Sqm	LEaSE EXpiry
NETWORK 10	4,557	Jun 19
TELSTRA cORPORATiON	2,676	Jun 10

Summary iNFormaTioN
PROPERTY GRADE			A Grade
OWNERSHiP			100% MPT
NLA			21,762 sqm
cAR SPAcES			1,055
AcQUiSiTiON DATE		Jul	03(50%)Dec 09(50%)
VALUATiON AT 31 DEc 09			$93.0m
VALUER		DiREcTORS VALUATiON
LAST EXTERNAL VALUATiON	DATE		30 Jun 09
cAPiTALiSATiON RATE			8.25%
DiScOUNT RATE			10.00%
GROSS OFFicE RENT			$356/sqm
maJor TENaNTS	NLa Sqm		LEaSE EXpiry
GM HOLDEN LTD	21,763		Apr 20

LEaSE EXpiry proFiLE % arEa	LEaSE EXpiry proFiLE % arEa
VAcANcY 2.9%	VAcANcY 0.0%
FY10 18.1%	FY10 0.0%
	FY11 0.0%
FY11 13.9%
FY12 13.4%	FY12 0.0%
FY13 23.2%	FY13 0.0%
FY14 5.0%	FY14 0.0%
BEYOND 23.4%	BEYOND 100.0%
WALE 3.78 YEARS	WALE 10.31 YEARS

==> picture [256 x 143] intentionally omitted <==

23 furzer street, CanBerra, aCt[ 1]

DEScripTioN

This newly completed campus style office building, purpose built for the Department of Health and Ageing, comprises 10 office levels, each over 4,500 sqm and two levels of basement parking.

The building has been designed to achieve a 4.5 star NABERS rating.

Summary iNFormaTioN

Summary iNFormaTioN
GRADE		A Grade
OWNERSHiP		100% MPT
NLA		46,167 sqm
cAR SPAcES		374
AcQUiSiTiON DATE		Feb 10
AcQUiSiTiON PRicE		$208.8m
GROSS OFFicE RENT		$395/sqm
maJor TENaNTS	NLa Sqm	LEaSE EXpiry
DEPT OF HEALTH AND AGEiNG	45,967	Feb 25

LEaSE EXpiry proFiLE % arEa

VAcANcY	0.0%
FY10	0.0%
FY11	0.0%
FY12	0.0%
FY13	0.0%
FY14	0.0%
BEYOND	100.0%
WALE	15.002	YEARS

1 AcQUiRED 1 FEBRUARY 2010. 2 FROM FEBRUARY 2010.

20 mirvac group PROPERTY COMPENDIUM

industrial Portfolio

INVESTMENT

==> picture [568 x 659] intentionally omitted <==

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

nexus industry Park, Prestons, nsW
----- End of picture text -----

				21 i
			% oF
			iNDuSTriaL
			porTFoLio	vaLuaTioN aT
propErTy	LocaTioN	NLa	booK vaLuE1	31 DEc 09
271 Lane cove Road	North Ryde,NSW	11,516 sqm	7.5%	$30.0m
10 Julius Avenue	North Ryde,NSW	13,386 sqm	13.7%	$55.0m
12 Julius Avenue	North Ryde,NSW	7,308 sqm	6.1%	$24.5m
James Ruse Business Park	Northmead,NSW	26,492 sqm	6.7%	$26.7m
64 Biloela Street	Villawood,NSW	22,937 sqm	5.4%	$21.5m
44 Biloela Street	Villawood,NSW	15,845 sqm	3.2%	$12.7m
1 – 47 Percival Road	Smithfeld,NSW	17,256 sqm	5.0%	$20.0m
Nexus industryPark,Atlas	Prestons,NSW	13,120 sqm	4.3%	$17.1m
Nexus industryPark,Natsteel	Prestons,NSW	9,709 sqm	3.0%	$12.0m
Nexus industryPark,Building3	Prestons,NSW	17,203 sqm	5.4%	$21.5m
Nexus industryPark,HPM	Prestons,NSW	12,339 sqm	3.7%	$14.8m
52 Huntingwood Drive	Huntingwood,NSW	19,286 sqm	5.7%	$22.8m
108 – 120 Silverwater Road	Silverwater,NSW	17,830 sqm	5.9%	$23.8m
32 Sargents Avenue	Minchinbury,NSW	22,378 sqm	6.0%	$23.9m
Mulgrave Business Park	Mulgrave,Vic	9,531 sqm	2.2%	$8.7m
Hawdon industryPark	Dandenong,Vic	20,812 sqm	3.3%	$13.3m
47 – 67 Westgate Drive	Altona North,Vic	27,081 sqm	4.7%	$19.0m
1900 – 2060 Pratt Boulevard	chicago,iL,USA	50,000 sqm	8.4%	$33.6m(AUD)
ToTaL		334,029 sqm	100.0%	$400.8m1
WEIGHTED AVERAGE LEASE EXPIRY				4.70 YEARS
OCCUPANCY				96.0%

==> picture [101 x 101] intentionally omitted <==

GEOGRAPHIC
DIVERSIFICATION2
■NSW	81.4%
■VIC	10.2%
■USA	8.4%

1 BOOK VALUE AS AT 31 DEcEMBER 2009. EXcLUDES DEVELOPMENT PROJEcTS.

2 BY BOOK VALUE AS AT 31 DEcEMBER 2009. EXcLUDES DEVELOPMENT ASSETS AND iNDiREcT PROPERTY iNVESTMENTS.

22 mirvac group PROPERTY COMPENDIUM

industrial Portfolio

INVESTMENT

==> picture [256 x 143] intentionally omitted <==

271 lane Cove road, nortH ryde, nsW

==> picture [256 x 143] intentionally omitted <==

10 Julius avenue, nortH ryde, nsW

DEScripTioN

The property is situated adjacent to the Macquarie Park Railway Station on the corner of Lane cove and Waterloo Roads. The site provides future commercial development potential.

DEScripTioN

The property comprises three separate buildings that were progressively completed from 2001 to 2005. The buildings are located within the Riverside corporate Park and have excellent access to the Lane cove Tunnel, M2 Motorway and the new railway station.

propErTy DETaiLS

Summary iNFormaTioN

propErTy DETaiLS
OWNERSHiP		100% MPT
NLA		11,516 sqm
cAR SPAcES		227
AcQUiSiTiON DATE		Apr 00
VALUATiON AT 31 DEc 09		$30.0m
VALUER		DiREcTORS VALUATiON
LAST EXTERNAL VALUATiON	DATE	30 Jun 08
cAPiTALiSATiON RATE		8.00%
DiScOUNT RATE		9.75%
maJor TENaNTS	NLa Sqm	LEaSE EXpiry
FOXTEL	6,718	Mar 18

Summary iNFormaTioN
OWNERSHiP		100% MPT
NLA		13,386 sqm
cAR SPAcES		444
AcQUiSiTiON DATE		Dec 09
VALUATiON AT 31 DEc 09		$55.0m
VALUER		DiREcTORS VALUATiON
LAST EXTERNAL VALUATiON	DATE	30 Jun 09
cAPiTALiSATiON RATE		8.25%
DiScOUNT RATE		9.75%
maJor TENaNTS	NLa Sqm	LEaSE EXpiry
BOc GASES	8,993	Nov 15
SYNTHES AUSTRALiA	2,355	May11

LEaSE EXpiry proFiLE % arEa	LEaSE EXpiry proFiLE % arEa
VAcANcY 41.7%	VAcANcY 7.5%
FY10 0.0%	FY10 0.0%

FY11 0.0%	FY11 25.4%
FY12 0.0%	FY12 0.0%
FY13 0.0%	FY13 0.0%
FY14 0.0%	FY14 0.0%
BEYOND 58.3%	BEYOND 67.2%
WALE 4.81 YEARS	WALE 4.3 YEARS

==> picture [256 x 143] intentionally omitted <==

12 Julius avenue, nortH ryde, nsW

==> picture [256 x 143] intentionally omitted <==

James ruse Business Park 6 Boundary road, nortHmead, nsW

DEScripTioN

Located within the Riverside corporate Park, the property comprises two multi-level office buildings and basement parking. The buildings have excellent access to the Lane cove Tunnel, M2 Motorway and the new railway station.

DEScripTioN

A modern multi-tenant estate incorporating five industrial buildings situated on the north-western side of Boundary Road. The site provides convenient access to major road networks, including the M2 and M4 and is only minutes from the Parramatta cBD.

Summary iNFormaTioN

propErTy DETaiLS

Summary iNFormaTioN	propErTy DETaiLS
OWNERSHiP 100% MPT	OWNERSHiP 100% MPT
NLA 7,308 sqm	NLA 26,492 sqm
cAR SPAcES 200	cAR SPAcES 299
AcQUiSiTiON DATE Dec 09	AcQUiSiTiON DATE Jul 94
VALUATiON AT 31 DEc 09 $24.5m	VALUATiON AT 31 DEc 09 $26.7m
VALUER DiREcTORS VALUATiON	VALUER SAViLLS
LAST EXTERNAL VALUATiON DATE 30 Jun 09	LAST EXTERNAL VALUATiON DATE 30 Sep09
cAPiTALiSATiON RATE 8.50%	cAPiTALiSATiON RATE 9.00%
DiScOUNT RATE 9.75%	DiScOUNT RATE 9.75%
maJor TENaNTS NLa Sqm LEaSE EXpiry	maJor TENaNTS NLa Sqm LEaSE EXpiry
REVLON 2,551 Oct 14	YHi 4,915 Jul 13
PRAXA LiMiTED 1,213 Nov 11	GSTAR AUST 4,722 Sep12

LEaSE EXpiry proFiLE % arEa	LEaSE EXpiry proFiLE % arEa
VAcANcY 21.1%	VAcANcY 0.0%
FY10 0.0%	FY10 15.9%
FY11 0.0%	FY11 21.0%
FY12 31.5%	FY12 20.0%
FY13 0.0%	FY13 17.9%
FY14 0.0%	FY14 18.6%
BEYOND 47.4%	BEYOND 6.6%
WALE 2.84 YEARS	WALE 2.25 YEARS

24 mirvac group PROPERTY COMPENDIUM

industrial Portfolio

INVESTMENT

==> picture [256 x 143] intentionally omitted <==

64 Biloela street, villaWood, nsW

==> picture [256 x 143] intentionally omitted <==

44 Biloela street, villaWood, nsW[ 1]

DEScripTioN

The property comprises an original office/warehouse building of 15,882 sqm and a 7,055 sqm high clearance warehouse adjacent to the original building that was completed for Visy in 2005.

DEScripTioN

This prime high clearance warehouse with adjoining office space includes a large awning of 3,200 sqm. The building is surrounded by extensive hardstand and there is potential to extend the warehouse by up to 3,000 sqm.

propErTy DETaiLS

propErTy DETaiLS	propErTy DETaiLS
OWNERSHiP 100% MPT	OWNERSHiP 100% MPT
NLA 22,937 sqm	NLA 15,845 sqm
cAR SPAcES 106	cAR SPAcES 170
AcQUiSiTiON DATE Feb 04	AcQUiSiTiON DATE Sep03
VALUATiON AT 31 DEc 09 $21.5m	VALUATiON AT 31 DEc 09 $12.7m
VALUER JLL	VALUER DiREcTORS VALUATiON
LAST EXTERNAL VALUATiON DATE 30 Sep09	LAST EXTERNAL VALUATiON DATE 31 Mar 09
cAPiTALiSATiON RATE 9.50%	cAPiTALiSATiON RATE 9.50%
DiScOUNT RATE 10.50%	DiScOUNT RATE 10.50%
maJor TENaNTS NLa Sqm LEaSE EXpiry	maJor TENaNTS NLa Sqm LEaSE EXpiry
ViSY iNDUSTRiAL PLASTicS 22,937 Sep16	cUSTOM cOAcHES 15,845 Nov 14

LEaSE EXpiry proFiLE % arEa	LEaSE EXpiry proFiLE % arEa
VAcANcY 0.0%	VAcANcY 0.0%
FY10 0.0%	FY10 0.0%

FY11 0.0%	FY11 0.0%
FY12 0.0%	FY12 0.0%
FY13 0.0%	FY13 0.0%
FY14 0.0%	FY14 0.0%
BEYOND 100.0%	BEYOND 100.0%
WALE 6.72 YEARS	WALE 4.92 YEARS

1 UNcONDiTiONAL cONTRAcT FOR SALE EXcHANGED AT 31 DEcEMBER 2009.

==> picture [256 x 143] intentionally omitted <==

1 – 47 PerCival road, smitHfield, nsW

==> picture [256 x 143] intentionally omitted <==

nexus industry Park (atlas) lyn Parade, Prestons, nsW

DEScripTioN

This property fronts the cumberland Highway at Smithfield and provides direct access to the M4 Motorway. A new office/warehouse was designed and constructed for Sandvik in 2003. The two original buildings have undergone partial refurbishment and a new building is currently under construction.

DEScripTioN

Developed by Mirvac, this building was purpose built for Atlas Steel in 2006 and adjoins three other industrial facilities, developed on the former Liverpool Showground site. The site has excellent exposure and access to the M7 Motorway.

propErTy DETaiLS

propErTy DETaiLS
OWNERSHiP		100% MPT
NLA 17,256 sqm(additional 4,877 sqm		under construction)
cAR SPAcES		207
AcQUiSiTiON DATE		Nov 02
VALUATiON AT 31 DEc 09		$20.0m
VALUER	DiREcTORS VALUATiON
LAST EXTERNAL VALUATiON DATE		31 Mar 08
cAPiTALiSATiON RATE		8.50%
DiScOUNT RATE		9.50%
maJor TENaNTS	NLa Sqm	LEaSE EXpiry
SANDViK AUSTRALiA	16,6781	Jun 22
TYcO FLOW cONTROL PAciFic PTY	LTD 5,455	Dec 11

propErTy DETaiLS
OWNERSHiP		100% MPT
NLA		13,120 sqm
cAR SPAcES		125
AcQUiSiTiON DATE		Aug04
VALUATiON AT 31 DEc 09		$17.1m
VALUER	cOLLiERS	iNTERNATiONAL
LAST EXTERNAL VALUATiON	DATE	30 Sep09
cAPiTALiSATiON RATE		8.25%
DiScOUNT RATE		9.75%
maJor TENaNTS	NLa Sqm	LEaSE EXpiry
ATLAS STEEL(AUST)PTY LTD	13,120	Apr 21

LEaSE EXpiry proFiLE % arEa 1	LEaSE EXpiry proFiLE % arEa
VAcANcY 0.0%	VAcANcY 0.0%
FY10 0.0%	FY10 0.0%
FY11 0.0%	FY11 0.0%
FY12 31.6%	FY12 0.0%
FY13 0.0%	FY13 0.0%
FY14 0.0%	FY14 0.0%
BEYOND 68.4%	BEYOND 100.0%
WALE 9.17 YEARS	WALE 11.3 YEARS

1 LEASE EXEcUTED ON cURRENT AND FUTURE SPAcE UNDER cONSTRUcTiON.

26 mirvac group PROPERTY COMPENDIUM

industrial Portfolio

INVESTMENT

==> picture [256 x 143] intentionally omitted <==

nexus industry Park (natsteel) lyn Parade, Prestons, nsW

==> picture [256 x 143] intentionally omitted <==

nexus industry Park (Building 3) lyn Parade, Prestons, nsW

DEScripTioN

Developed by Mirvac, this building was purpose built for Natsteel Australia in 2006 and adjoins three other industrial facilities, developed on the former Liverpool Showground site. The site has excellent exposure and access to the M7 Motorway.

DEScripTioN

Developed by Mirvac, this building was built and subsequently leased to Total care Transport and De Longhi in 2007 and adjoins three other industrial facilities, developed on the former Liverpool Showground site. The site has excellent exposure and access to the M7 Motorway.

propErTy DETaiLS

propErTy DETaiLS
OWNERSHiP		100% MPT
NLA		9,709 sqm
cAR SPAcES		70
AcQUiSiTiON DATE		Aug04
VALUATiON AT 31 DEc 09		$12.0m
VALUER		DiREcTORS VALUATiON
LAST EXTERNAL VALUATiON	DATE	31 Mar 09
cAPiTALiSATiON RATE		8.75%
DiScOUNT RATE		9.50%
maJor TENaNTS	NLa Sqm	LEaSE EXpiry
NATSTEEL AUSTRALiA	9,709	Nov 13

propErTy DETaiLS
OWNERSHiP		100% MPT
NLA		17,203 sqm
cAR SPAcES		163
AcQUiSiTiON DATE		Aug04
VALUATiON AT 31 DEc 09		$21.5m
VALUER	cOLLiERS	iNTERNATiONAL
LAST EXTERNAL VALUATiON	DATE	30 Sep09
cAPiTALiSATiON RATE		8.75%
DiScOUNT RATE		9.50%
maJor TENaNTS	NLa Sqm	LEaSE EXpiry
TOTAL cARE TRANSPORT	9,056	Oct 13
DE LONGHi	8,147	Dec 13

LEaSE EXpiry proFiLE % arEa	LEaSE EXpiry proFiLE % arEa
VAcANcY 0.0%	VAcANcY 0.0%
FY10 0.0%	FY10 0.0%

FY11 0.0%	FY11 0.0%
FY12 0.0%	FY12 0.0%
FY13 0.0%	FY13 0.0%
FY14 100.0%	FY14 100.0%
BEYOND 0.0%	BEYOND 0.0%
WALE 3.92 YEARS	WALE 3.98 YEARS

==> picture [256 x 143] intentionally omitted <==

nexus industry Park (HPm) lyn Parade, Prestons, nsW

==> picture [256 x 143] intentionally omitted <==

52 HuntingWood drive, HuntingWood, nsW

DEScripTioN

Developed by Mirvac, this building was built and subsequently leased to HPM Legrand Australia in 2008 and adjoins three other industrial facilities, developed on the former Liverpool Showground site. The site has excellent exposure and access to the M7 Motorway.

DEScripTioN

The property comprises a high clearance, modern distribution warehouse which was specifically designed for Exel Australia in 2000. The property has excellent access to the M4 Motorway.

propErTy DETaiLS

Summary iNFormaTioN

propErTy DETaiLS
OWNERSHiP		100% MPT
NLA		12,339 sqm
cAR SPAcES		103
AcQUiSiTiON DATE1		Aug04
VALUATiON AT 31 DEc 09		$14.8m
VALUER		DiREcTORS VALUATiON
LAST EXTERNAL VALUATiON	DATE	31 Dec 08
cAPiTALiSATiON RATE		8.75%
DiScOUNT RATE		9.50%
maJor TENaNTS	NLa Sqm	LEaSE EXpiry
HPM	12,339	Oct 13

Summary iNFormaTioN
OWNERSHiP		100% MPT
NLA		19,286 sqm
cAR SPAcES		106
AcQUiSiTiON DATE		Dec 09
VALUATiON AT 31 DEc 09		$22.8m
VALUER		DiREcTORS VALUATiON
LAST EXTERNAL VALUATiON	DATE	30 Jun 09
cAPiTALiSATiON RATE		9.00%
DiScOUNT RATE		9.50%
maJor TENaNTS	NLa Sqm	LEaSE EXpiry
EXEL AUSTRALiA	19,286	Oct 12

LEaSE EXpiry proFiLE % arEa	LEaSE EXpiry proFiLE % arEa
VAcANcY 0.0%	VAcANcY 0.0%
FY10 0.0%	FY10 0.0%
FY11 0.0%	FY11 0.0%
FY12 0.0%	FY12 0.0%
FY13 0.0%	FY13 100.0%
FY14 100.0%	FY14 0.0%
BEYOND 0.0%	BEYOND 0.0%
WALE 3.84 YEARS	WALE 2.84 YEARS

1 DEVELOPMENT cOMPLETED JULY 2008.

28 mirvac group PROPERTY COMPENDIUM

industrial Portfolio

INVESTMENT

==> picture [256 x 143] intentionally omitted <==

108 — 120 silverWater road, silverWater, nsW

==> picture [256 x 143] intentionally omitted <==

32 sargents road, minCHinBury, nsW

DEScripTioN

centrewest industrial Estate is situated in the established industrial precinct of Silverwater, with excellent access to the M4 Motorway and Victoria Road, major arteries that link Sydney’s west and north-west with the cBD. The property comprises a modern 12 unit office/warehouse industrial estate.

DEScripTioN

The property comprises two high clearance warehouses, purpose built for Star Track Express in 2004 and 2006. The property is located close to the junction of the M4 and M7 Motorways.

Summary iNFormaTioN

Summary iNFormaTioN	Summary iNFormaTioN
OWNERSHiP 100% MPT	OWNERSHiP 100% MPT
NLA 17,830 sqm	NLA 22,378 sqm
cAR SPAcES 340	cAR SPAcES 202
AcQUiSiTiON DATE Dec 09	AcQUiSiTiON DATE Dec 09
VALUATiON AT 31 DEc 09 $23.8m	VALUATiON AT 31 DEc 09 $23.9m
VALUER SAViLLS	VALUER DiREcTORS VALUATiON
LAST EXTERNAL VALUATiON DATE 31 Dec 09	LAST EXTERNAL VALUATiON DATE 30 Jun 09
cAPiTALiSATiON RATE 9.00%	cAPiTALiSATiON RATE 8.75%
DiScOUNT RATE 9.75%	DiScOUNT RATE 9.25%
maJor TENaNTS NLa Sqm LEaSE EXpiry	maJor TENaNTS NLa Sqm LEaSE EXpiry
cHUBB 3,595 Sep15	STAR TRAcK EXPRESS 22,378 Dec 14
cHRiSTiAN ciTY cHURcH 3,594 Sep13

LEaSE EXpiry proFiLE % arEa	LEaSE EXpiry proFiLE % arEa
VAcANcY 9.9%	VAcANcY 0.0%
FY10 7.2%	FY10 0.0%

FY11 13.3%	FY11 0.0%
FY12 5.7%	FY12 0.0%
FY13 11.4%	FY13 0.0%
FY14 20.2%	FY14 0.0%
BEYOND 32.4%	BEYOND 100.0%
WALE 3.98 YEARS	WALE 4.95 YEARS

==> picture [256 x 143] intentionally omitted <==

mulgrave Business Park, 18-20 ComPark CirCuit & 253 Wellington road, mulgrave, viC

==> picture [256 x 143] intentionally omitted <==

HaWdon industry Park, 4 aBBotts road & 333 – 343 frankston road, dandenong, viC

DEScripTioN

The property comprises two modern office buildings ranging from two to three office levels with basement and external parking. The buildings form part of a business park, located on the corner of Wellington and Springvale Roads, approximately 20km south east of the Melbourne cBD.

DEScripTioN

Located in the south east Melbourne industrial market, this estate comprises four separate buildings. The complex was constructed in 1985 with refurbishment works completed in 2005. The property has excellent access to both the Eastlink M3 Motorway and the South Gippsland Freeway.

propErTy DETaiLS
OWNERSHiP		100% MPT
NLA		9,531 sqm
cAR SPAcES		379
AcQUiSiTiON DATE		Aug01
VALUATiON AT 31 DEc 09		$8.7m
VALUER	cOLLiERS	iNTERNATiONAL
LAST EXTERNAL VALUATiON	DATE	30 Sep09
cAPiTALiSATiON RATE		10.87%1
DiScOUNT RATE		11.12%2
maJor TENaNTS	NLa Sqm	LEaSE EXpiry
VEMcO	1,313	Dec 12
NATiONAL FOODS	1,137	Jun 11

propErTy DETaiLS

propErTy DETaiLS
OWNERSHiP		100% MPT
NLA		20,812 sqm
cAR SPAcES		216
AcQUiSiTiON DATE		Jan 04
VALUATiON AT 31 DEc 09		$13.3m
VALUER		M3
LAST EXTERNAL VALUATiON	DATE	30 Sep09
cAPiTALiSATiON RATE		9.75%
DiScOUNT RATE		10.50%
maJor TENaNTS	NLa Sqm	LEaSE EXpiry
cSR LiMiTED	5,852	Jun 15
DOM LOGiSTicS	5,736	Apr 12

LEaSE EXpiry proFiLE % arEa	LEaSE EXpiry proFiLE % arEa
VAcANcY 62.7%	VAcANcY 0.0%
FY10 0.0%	FY10 0.0%
FY11 17.3%	FY11 23.7%
FY12 0.0%	FY12 27.5%
FY13 20.0%	FY13 20.8%
FY14 0.0%	FY14 0.0%
BEYOND 0.0%	BEYOND 28.0%
WALE 0.85 YEARS	WALE 3.11 YEARS

1 WEiGHTED AVERAGE cAPiTALiSATiON RATE.

2 WEiGHTED AVERAGE DiScOUNT RATE.

30 mirvac group PROPERTY COMPENDIUM

industrial Portfolio

INVESTMENT

==> picture [256 x 143] intentionally omitted <==

47 — 67 Westgate drive, altona nortH, viC

==> picture [256 x 143] intentionally omitted <==

1900 – 2060 Pratt Boulevard, CHiCago, il, usa

DEScripTioN

Purpose built for Pacific Brands in 1996, the property is located in Melbourne’s western industrial precinct strategically serviced by the major transport routes of the Westgate Freeway, Western Ring Road and the Princes Freeway.

DEScripTioN

The chicago Metropolitan area is the largest industrial market in the USA and this versatile 50,000 sqm industrial facility is located adjacent to the O’Hare international Airport, the second busiest airport in the world. The property is currently leased and also provides a medium-term redevelopment opportunity.

Summary iNFormaTioN

propErTy DETaiLS

Summary iNFormaTioN	propErTy DETaiLS
OWNERSHiP 100% MPT	OWNERSHiP 100% MPT
NLA 27,081 sqm	NLA 50,000 sqm
cAR SPAcES 183	cAR SPAcES 1,638
AcQUiSiTiON DATE Dec 09	AcQUiSiTiON DATE Dec 07
VALUATiON AT 31 DEc 09 $19.0m	VALUATiON AT 31 DEc 09 $33.6m(AUD)
VALUER KNiGHT FRANK	VALUER cBRE
LAST EXTERNAL VALUATiON DATE 31 Dec 09	LAST EXTERNAL VALUATiON DATE 31 Dec 09
cAPiTALiSATiON RATE 9.50%	cAPiTALiSATiON RATE 8.00%
DiScOUNT RATE 10.00%	DiScOUNT RATE 10.50%
maJor TENaNTS NLa Sqm LEaSE EXpiry	maJor TENaNTS NLa Sqm LEaSE EXpiry
PAciFic DUNLOP 27,081 Apr 14	cLEAR LAM PAcKAGiNG 50,000 Dec 14

LEaSE EXpiry proFiLE % arEa	LEaSE EXpiry proFiLE % arEa
VAcANcY 0.0%	VAcANcY 0.0%
FY10 0.0%	FY10 0.0%

FY11 0.0%	FY11 0.0%
FY12 0.0%	FY12 0.0%
FY13 0.0%	FY13 0.0%
FY14 100.0%	FY14 0.0%
BEYOND 0.0%	BEYOND 100.0%
WALE 4.33 YEARS	WALE 4.93 YEARS

==> picture [567 x 659] intentionally omitted <==

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

sargents road, minCHinBury, nsW
----- End of picture text -----

32 mirvac group PROPERTY COMPENDIUM

retail Portfolio

INVESTMENT

==> picture [568 x 435] intentionally omitted <==

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

rHodes sHoPPing Centre, rHodes, nsW
----- End of picture text -----

==> picture [106 x 101] intentionally omitted <==

GRADE

DIVERSIFICATION[1]

■	NEIGHBOURHOOD	8.9%
■	CBD RETAIL	7.9%
■	SUB REGIONAL	71.2%
■	BULKY GOODS CENTRE	12.0%

==> picture [106 x 101] intentionally omitted <==

GEOGRAPHIC DIVERSIFICATION[1]

■	NSW	47.6%
■	VIC	17.3%
■	QLD	31.1%
■	ACT	2.6%
■	WA	1.4%

1 BY BOOK VALUE AS AT 31 DEcEMBER 2009. EXcLUDES DEVELOPMENT ASSETS AND iNDiREcT PROPERTY iNVESTMENTS.

					33 i
			% oF rETaiL
			porTFoLio	cENTrE	vaLuaTioN aT
propErTy	LocaTioN	gLa	booK vaLuE1	maT2	31 DEc 09
Metcentre	Sydney,NSW	5,758 sqm	2.9%	$43m	$50.8m3
Greenwood Plaza	North Sydney,NSW	8,731 sqm	4.0%	$74m	$71.5m3
BroadwayShoppingcentre	Broadway,NSW	50,498 sqm	11.2%	$377m	$197.5m3
Rhodes Shoppingcentre	Rhodes,NSW	32,586 sqm	4.9%	$176m	$86.5m3
St Marys Village centre	St Marys,NSW	16,170 sqm	2.3%	$82m	$40.3m
Blacktown Megacentre	Blacktown,NSW	25,746 sqm	2.0%	N/A	$34.8m
Stanhope Village	Stanhope Gardens,NSW	15,451 sqm	3.0%	$92m	$53.1m
cherrybrook Village Shoppingcentre	cherrybrook,NSW	9,493 sqm	4.1%	$88m	$72.5m
chester Square Shoppingcentre	chester Hill,NSW	8,293 sqm	1.5%	$58m	$27.3m
Orange citycentre	Orange,NSW	18,066 sqm	2.8%	$81m	$49.0m
ManningMall	Taree,NSW	10,704 sqm	1.9%	$32m	$32.8m
Moonee Beach Shoppingcentre	coffs Harbour,NSW	10,884 sqm	0.7%	$30m	$12.0m
Taree citycentre	Taree,NSW	15,553 sqm	3.1%	$119m	$54.0m
Ballina central	Ballina,NSW	14,183 sqm	1.9%	$60m	$33.0m
Lake Haven Megacentre	Lake Haven,NSW	21,602 sqm	1.5%	N/A	$27.0m
cooleman court	Weston,AcT	10,714 sqm	2.6%	$85m	$46.3m
Logan Mega centre	Logan,QLD	27,102 sqm	3.6%	N/A	$63.5m
Orion Springfeld Town centre	Springfeld,QLD	33,366 sqm	7.6%	$135m	$135.0m
Hinkler central	Bundaberg,QLD	21,049 sqm	4.7%	$145m	$83.0m
Kawana Shoppingworld	Buddina,QLD	29,787 sqm	10.5%	$236m	$186.0m
citycentre Plaza	Rockhampton,QLD	14,107 sqm	2.4%	$82m	$43.0m
Morayfeld Supa centre	Morayfeld,QLD	22,325 sqm	2.2%	N/A	$38.5m
como centre	South Yarra,Vic	6,894 sqm	1.0%	$14m	$17.5m
Gippsland centre	Sale,Vic	23,345 sqm	2.8%	$117m	$49.8m
Moonee Ponds central – Stage 1	Moonee Ponds,Vic	6,244 sqm	1.3%	$54m	$22.8m
Moonee Ponds central – Stage 2	Moonee Ponds,Vic	12,366 sqm	2.2%	$30m	$38.7m
WaverleyGardens	Mulgrave,Vic	38,292 sqm	7.3%	$166m	$128.5m
Peninsula Lifestyle	Mornington,Vic	32,156 sqm	2.7%	N/A	$48.3m
Kwinana Hub	Kwinana,WA	17,336 sqm	1.4%	$91m	$25.0m
ToTaL		558,799sqm	100.0%		$1,767.7m1
WEIGHTED AVERAGE LEASE	EXPIRY				5.71 YEARS
OCCUPANCY					97.5%4

1 BOOK VALUE AS AT 31 DEcEMBER 2009. EXcLUDES DEVELOPMENT PROJEcTS.

2 12 MONTHS TO 31 DEcEMBER 2009. iN AccORDANcE WiTH SccA GUiDELiNES.

3 BOOK VALUE REPRESENTS 50% iNTEREST.

4 EXcLUDES BULKY GOODS cENTRES.

34 mirvac group PROPERTY COMPENDIUM

retail Portfolio

INVESTMENT

==> picture [256 x 143] intentionally omitted <==

metCentre 60 margaret street, sydney, nsW

==> picture [256 x 143] intentionally omitted <==

greenWood Plaza PaCifiC HigHWay, nortH sydney, nsW

DEScripTioN

Metcentre comprises some 70 stores, located in the heart of the Sydney cBD at the base of 60 Margaret Street with a direct pedestrian link to Wynyard Railway Station.

DEScripTioN

Greenwood Plaza is a three level centre at the base of North Sydney’s iconic 101 Miller Street. it comprises 105 retail and service outlets. The ground level retail flows directly into North Sydney Railway Station.

Summary iNFormaTioN

Summary iNFormaTioN
GRADE			cBD Retail
OWNERSHiP		50% MPT,	50% MTAA
GLA			5,758 sqm
cAR SPAcES			N/A
AcQUiSiTiON DATE			Aug98
VALUATiON AT 31 DEc 09			$50.8m
VALUER		DiREcTORS VALUATiON
LAST EXTERNAL VALUATiON	DATE		31 Dec 08
cAPiTALiSATiON RATE			6.75%
DiScOUNT RATE			9.50%
cENTRE MAT			$43m
maJor TENaNTS	NLa Sqm	LEaSE EXpiry
PRicELiNE	696	HOLDOVER
FLORSHEiM	267		Oct 13

Summary iNFormaTioN
GRADE		cBD Retail
OWNERSHiP		50% MPT, 50% EUREKA
GLA		8,731 sqm
cAR SPAcES		512
AcQUiSiTiON DATE		Jun 94
VALUATiON AT 31 DEc 09		$71.5m
VALUER		DiREcTORS VALUATiON
LAST EXTERNAL VALUATiON	DATE	31 Dec 08
cAPiTALiSATiON RATE		6.75%
DiScOUNT RATE		9.50%
cENTRE MAT		$74m
maJor TENaNTS	NLa Sqm	LEaSE EXpiry
GREENWOOD HOTEL	856	Nov 12
iGA EXPRESS	713	Dec 17

LEaSE EXpiry proFiLE % arEa

==> picture [514 x 96] intentionally omitted <==

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

VAcANcY 0.0% VAcANcY 2.0%
FY10 17.9% FY10 16.6%
FY11 11.9% FY11 8.7%
FY12 2.9% FY12 10.1%
FY13 9.1% FY13 23.8%
FY14 29.2% FY14 16.1%
BEYOND 29.1% BEYOND 22.7%
WALE 3.68 YEARS WALE 3.34 YEARS
----- End of picture text -----

==> picture [256 x 143] intentionally omitted <==

BroadWay sHoPPing Centre BroadWay, nsW

==> picture [256 x 143] intentionally omitted <==

rHodes sHoPPing Centre, rHodes, nsW

DEScripTioN

This dominant sub regional centre is located on the fringe of the cBD and services demand in Sydney’s inner west. The centre was recently expanded and refurbished in 2007 to add Target and a new upmarket fashion level to existing major tenancies of K-mart, coles, Bi-lo and Rebel Sport.

DEScripTioN

The centre is co-located with iKEA in the rapidly developing Rhodes residential precinct. The centre was reconfigured in 2009 to incorporate a Target and associated remixed specialty offer and is also located adjacent to the Rhodes commercial precinct.

Summary iNFormaTioN

Summary iNFormaTioN	Summary iNFormaTioN
GRADE Sub Regional	GRADE Sub Regional
OWNERSHiP 50% MPT, 50% Perron	OWNERSHiP 50% MPT, 50% Perron
GLA 50,498 sqm	NLA 32,586 sqm
cAR SPAcES 1,824	cAR SPAcES 2,400
AcQUiSiTiON DATE Jan 07	AcQUiSiTiON DATE Jan 07
VALUATiON AT 31 DEc 09 $197.5m	VALUATiON AT 31 DEc 09 $86.5m
VALUER DiREcTORS VALUATiON	VALUER DiREcTORS VALUATiON
LAST EXTERNAL VALUATiON DATE 31 Dec 08	LAST EXTERNAL VALUATiON DATE 31 Dec 08
cAPiTALiSATiON RATE 6.50%	cAPiTALiSATiON RATE 7.00%
DiScOUNT RATE 9.25%	DiScOUNT RATE 9.25%
cENTRE MAT $377m	cENTRE MAT $176m
maJor TENaNTS NLa Sqm LEaSE EXpiry	maJor TENaNTS NLa Sqm LEaSE EXpiry
K-MART 7,394 Mar 13	TARGET 3,795 Nov 24
HOYTS MULTiPLEX ciNEMAS 4,857 Jul 18	cOLES 3,497 Dec 19

LEaSE EXpiry proFiLE % arEa	LEaSE EXpiry proFiLE % arEa
VAcANcY 0.1%	VAcANcY 4.5%
FY10 3.7%	FY10 7.2%
FY11 7.1%	FY11 14.0%
FY12 11.0%	FY12 10.7%
FY13 40.8%	FY13 13.6%
FY14 6.8%	FY14 0.9%
BEYOND 30.5%	BEYOND 49.2%
WALE 5.79 YEARS	WALE 5.25 YEARS

36 mirvac group PROPERTY COMPENDIUM

retail Portfolio

INVESTMENT

==> picture [256 x 143] intentionally omitted <==

st marys village Centre CHarles HaCket drive, st marys, nsW

==> picture [256 x 143] intentionally omitted <==

BlaCktoWn megaCentre BlaCktoWn road, BlaCktoWn, nsW

DEScripTioN

Located in the western Sydney suburb of St Marys, this dominant sub regional centre comprises Woolworths, Target and 50 specialty stores. The centre provides convenient shopping over a single level with significant on grade parking.

DEScripTioN

Blacktown Megacentre is located on the fringe of the Blacktown cBD and comprises a broad range of household and bulky goods stores servicing the growing north western region of Sydney. Refurbishment of the centre was completed in June 2007 including a new Harvey Norman tenancy.

Summary iNFormaTioN

Summary iNFormaTioN	Summary iNFormaTioN
GRADE Sub Regional	GRADE BulkyGoods centre
OWNERSHiP 100% MPT	OWNERSHiP 100% MPT
GLA 16,170 sqm	GLA 25,746 sqm
cAR SPAcES 690	cAR SPAcES 546
AcQUiSiTiON DATE Jan 03	AcQUiSiTiON DATE Jun 02
VALUATiON AT 31 DEc 09 $40.3m	VALUATiON AT 31 DEc 09 $34.8m
VALUER DiREcTORS VALUATiON	VALUER DiREcTORS VALUATiON
LAST EXTERNAL VALUATiON DATE 31 Dec 08	LAST EXTERNAL VALUATiON DATE 31 Dec 08
cAPiTALiSATiON RATE 8.00%	cAPiTALiSATiON RATE 9.00%
DiScOUNT RATE 9.50%	DiScOUNT RATE 10.00%
cENTRE MAT $82m	cENTRE MAT N/A
maJor TENaNTS NLa Sqm LEaSE EXpiry	maJor TENaNTS NLa Sqm LEaSE EXpiry
TARGET 8,023 Jul 11	BUNNiNGS 11,606 Jun 10
WOOLWORTHS 4,066 Nov 15	HARVEY NORMAN 5,888 Mar 17

LEaSE EXpiry proFiLE % arEa	LEaSE EXpiry proFiLE % arEa
VAcANcY 0.0%	VAcANcY 1.6%
FY10 3.9%	FY10 47.5%

FY11 4.5%	FY11 8.4%
FY12 51.9%	FY12 4.1%
FY13 7.2%	FY13 2.9%
FY14 2.1%	FY14 0.0%
BEYOND 30.5%	BEYOND 35.6%
WALE 2.93 YEARS	WALE 2.99 YEARS

==> picture [256 x 143] intentionally omitted <==

stanHoPe village sentry drive, stanHoPe gardens, nsW

==> picture [256 x 143] intentionally omitted <==

CHerryBrook village sHoPPing Centre CHerryBrook, nsW

DEScripTioN

Located in the rapidly growing north-west corridor of Sydney, Stanhope Village Stage 1 opened in late 2003, comprising a coles supermarket and 30 stores. Stage 2 was opened in March 2007 and included K-mart. The centre is conveniently located adjacent to the area’s busy leisure centre and pool facility.

DEScripTioN

This single level, neighbourhood centre was originally constructed in 1989 and was extensively refurbished and expanded in 2004. The centre is anchored by a Woolworths supermarket plus 54 specialty tenancies including a strong fresh food precinct.

Summary iNFormaTioN

Summary iNFormaTioN	Summary iNFormaTioN
GRADE Sub Regional	GRADE Neighbourhood
OWNERSHiP 100% MPT	OWNERSHiP 100% MPT
GLA 15,451 sqm	NLA 9,493 sqm
cAR SPAcES 694	cAR SPAcES 474
AcQUiSiTiON DATE Nov 03	AcQUiSiTiON DATE Dec 09
VALUATiON AT 31 DEc 09 $53.1m	VALUATiON AT 31 DEc 09 $72.5m
VALUER DiREcTORS VALUATiON	VALUER DiREcTORS VALUATiON
LAST EXTERNAL VALUATiON DATE 31 Mar 09	LAST EXTERNAL VALUATiON DATE 30 Jun 09
cAPiTALiSATiON RATE 8.00%	cAPiTALiSATiON RATE 7.50%
DiScOUNT RATE 9.75%	DiScOUNT RATE 9.50%
cENTRE MAT $92m	cENTRE MAT $88m
maJor TENaNTS NLa Sqm LEaSE EXpiry	maJor TENaNTS NLa Sqm LEaSE EXpiry
K-MART 5,060 Mar 22	WOOLWORTHS 3,832 Mar 25
cOLES 3,629 Nov 18	MARTELLiS FRUiT MARKET 679 Aug14

LEaSE EXpiry proFiLE % arEa

==> picture [515 x 96] intentionally omitted <==

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

VAcANcY 0.4% VAcANcY 0.0%
FY10 2.3% FY10 4.0%
FY11 3.3% FY11 4.5%
FY12 10.8% FY12 14.4%
FY13 4.3% FY13 17.6%
FY14 10.0% FY14 0.4%
BEYOND 68.9% BEYOND 59.1%
WALE 7.62 YEARS WALE 7.92 YEARS
----- End of picture text -----

38 mirvac group PROPERTY COMPENDIUM

retail Portfolio

INVESTMENT

==> picture [256 x 143] intentionally omitted <==

CHester sQuare sHoPPing Centre CHester Hill, nsW

==> picture [256 x 143] intentionally omitted <==

orange City Centre summer street, orange, nsW

DEScripTioN

The centre is located 20 kilometres west of the Sydney cBD. Redeveloped in 2008, the centre is anchored by Woolworths and Go-Lo and has 30 specialty shops.

DEScripTioN

The complex incorporates Myer, together with the recently refurbished Big W, 34 specialty stores, undercover parking and is the dominant centre in the strong regional city of Orange.

Summary iNFormaTioN

Summary iNFormaTioN	Summary iNFormaTioN
GRADE Neighbourhood	GRADE Sub Regional
OWNERSHiP 100% MPT	OWNERSHiP 100% MPT
NLA 8,293 sqm	GLA 18,066 sqm
cAR SPAcES 350	cAR SPAcES 414
AcQUiSiTiON DATE Dec 09	AcQUiSiTiON DATE Apr 93
VALUATiON AT 31 DEc 09 $27.3m	VALUATiON AT 31 DEc 09 $49.0m
VALUER DiREcTORS VALUATiON	VALUER DiREcTORS VALUATiON
LAST EXTERNAL VALUATiON DATE 30 Jun 09	LAST EXTERNAL VALUATiON DATE 31 Mar 09
cAPiTALiSATiON RATE 8.50%	cAPiTALiSATiON RATE 8.25%
DiScOUNT RATE 10.00%	DiScOUNT RATE 9.75%
cENTRE MAT $58m	cENTRE MAT $81m
maJor TENaNTS NLa Sqm LEaSE EXpiry	maJor TENaNTS NLa Sqm LEaSE EXpiry
WOOLWORTHS 3,468 Nov 27	BiG W 7,017 Nov 26
GO–LO 1,280 Aug12	MYER 6,858 Nov 11

LEaSE EXpiry proFiLE % arEa	LEaSE EXpiry proFiLE % arEa
VAcANcY 0.3%	VAcANcY 0.0%
FY10 0.0%	FY10 2.8%

FY11 0.0%	FY11 2.5%
FY12 0.0%	FY12 41.5%
FY13 27.5%	FY13 2.9%
FY14 7.0%	FY14 7.6%
BEYOND 65.2%	BEYOND 42.7%
WALE 9.76 YEARS	WALE 8.04 YEARS

==> picture [256 x 143] intentionally omitted <==

manning mall taree, nsW

==> picture [256 x 143] intentionally omitted <==

moonee BeaCH sHoPPing Centre Coffs HarBour, nsW

DEScripTioN

Manning Mall is located approximately 300km north of Sydney in the main retail street of Taree. The centre was extended and refurbished in 2009 to include a new Target and coles store. The centre is opposite Taree city centre, providing a dominant retail presence in this strong regional town.

DEScripTioN

Located 12 kilometres north of coffs Harbour, the centre was completed in 2005 and comprises a coles supermarket, Best & Less, crazy clark’s and 23 specialty shops.

Summary iNFormaTioN

Summary iNFormaTioN	Summary iNFormaTioN
GRADE Sub Regional	GRADE Neighbourhood
OWNERSHiP 100% MPT	OWNERSHiP 100% MPT
GLA 10,704 sqm	NLA 10,884 sqm
cAR SPAcES 357	cAR SPAcES 376
AcQUiSiTiON DATE Dec 06	AcQUiSiTiON DATE Dec 09
VALUATiON AT 31 DEc 09 $32.8m	VALUATiON AT 31 DEc 09 $12.0m
VALUER cBRE	VALUER SAViLLS
LAST EXTERNAL VALUATiON DATE 31 Dec 09	LAST EXTERNAL VALUATiON DATE 31 Dec 09
cAPiTALiSATiON RATE 9.00%	cAPiTALiSATiON RATE 10.50%
DiScOUNT RATE 9.50%	DiScOUNT RATE 11.50%
cENTRE MAT $32m	cENTRE MAT $30m
maJor TENaNTS NLa Sqm LEaSE EXpiry	maJor TENaNTS NLa Sqm LEaSE EXpiry
cOLES 3,650 Sep24	cOLES 3,500 Dec 20
TARGET 3,500 Nov 18	BEST & LESS 884 Nov 13

LEaSE EXpiry proFiLE % arEa	LEaSE EXpiry proFiLE % arEa
VAcANcY 1.7%	VAcANcY 46.2%
FY10 1.1%	FY10 1.7%
FY11 5.4%	FY11 1.4%
FY12 3.7%	FY12 0.6%
	FY12 0.6%
FY13 1.8%	FY13 0.7%
FY14 8.8%	FY14 8.1%
BEYOND 77.6%	BEYOND 41.3%
WALE 9.06 YEARS	WALE 4.53 YEARS

40 mirvac group PROPERTY COMPENDIUM

retail Portfolio

INVESTMENT

==> picture [256 x 143] intentionally omitted <==

taree City Centre, taree, nsW

==> picture [256 x 143] intentionally omitted <==

Ballina Central PaCifiC HigHWay, Ballina, nsW

DEScripTioN

Taree city centre is a single level, sub regional shopping centre. constructed in 1997, the centre comprises a Woolworths supermarket, Big W, 40 specialty tenancies and is located adjacent to Mirvac’s Manning Mall.

DEScripTioN

Opened in May 2006, this sub regional centre of over 13,000 sqm includes Big W, Supa iGA, 27 specialty stores, a freestanding Hungry Jacks and a Woolworths Petrol outlet.

Summary iNFormaTioN

Summary iNFormaTioN	Summary iNFormaTioN
GRADE Sub Regional	GRADE Sub Regional
OWNERSHiP 100% MPT	OWNERSHiP 100% MPT
NLA 15,553 sqm	GLA 14,183 sqm
cAR SPAcES 930	cAR SPAcES 557
AcQUiSiTiON DATE Dec 09	AcQUiSiTiON DATE Dec 04
VALUATiON AT 31 DEc 09 $54.0m	VALUATiON AT 31 DEc 09 $33.0m
VALUER DiREcTORS VALUATiON	VALUER DiREcTORS VALUATiON
LAST EXTERNAL VALUATiON DATE 30 Jun 09	LAST EXTERNAL VALUATiON DATE 30 Jun 09
cAPiTALiSATiON RATE 8.00%	cAPiTALiSATiON RATE 8.25%
DiScOUNT RATE 9.50%	DiScOUNT RATE 9.75%
cENTRE MAT $119m	cENTRE MAT $60m
maJor TENaNTS NLa Sqm LEaSE EXpiry	maJor TENaNTS NLa Sqm LEaSE EXpiry
BiG W 6,583 Mar 17	BiG W 7,412 May26
WOOLWORTHS 3,919 Mar 17	RiTcHiES SUPA iGA 3,761 Jun 26

LEaSE EXpiry proFiLE % arEa	LEaSE EXpiry proFiLE % arEa
VAcANcY 0.0%	VAcANcY 0.8%
FY10 2.2%	FY10 0.0%

FY11 3.7%	FY11 4.8%
FY12 6.3%	FY12 2.5%
FY13 2.8%	FY13 0.6%
FY14 11.0%	FY14 2.9%
BEYOND 74.0%	BEYOND 88.2%
WALE 6.04 YEARS	WALE 14.06 YEARS

==> picture [256 x 143] intentionally omitted <==

lake Haven megaCentre lake Haven, nsW

==> picture [256 x 143] intentionally omitted <==

Cooleman Court sHoPPing Centre Weston, aCt

DEScripTioN

Lake Haven Megacentre is a modern bulky goods centre located in the heart of the NSW central coast growth corridor, approximately 100km north-east of Sydney and 50km southwest of Newcastle. The centre opened for trading in July 2007 and is anchored by Bunnings and Harvey Norman.

DEScripTioN

cooleman court was redeveloped in 2009 to include a new Aldi store and second retail level to the existing anchors of Woolworths and Target country and 47 specialty shops.

Summary iNFormaTioN

Summary iNFormaTioN	Summary iNFormaTioN
GRADE BulkyGoods centre	GRADE Neighbourhood
OWNERSHiP 100% MPT	OWNERSHiP 100% MPT
GLA 21,602 sqm	NLA 10,714 sqm
cAR SPAcES 590	cAR SPAcES 517
AcQUiSiTiON DATE Jan 07	AcQUiSiTiON DATE Dec 09
VALUATiON AT 31 DEc 09 $27.0m	VALUATiON AT 31 DEc 09 $46.3m
VALUER DiREcTORS VALUATiON	VALUER DiREcTORS VALUATiON
LAST EXTERNAL VALUATiON DATE 31 Dec 08	LAST EXTERNAL VALUATiON DATE 30 Jun 09
cAPiTALiSATiON RATE 9.50%	cAPiTALiSATiON RATE 8.00%
DiScOUNT RATE 10.25%	DiScOUNT RATE 9.75%
cENTRE MAT N/A	cENTRE MAT $85m
maJor TENaNTS NLa Sqm LEaSE EXpiry	maJor TENaNTS NLa Sqm LEaSE EXpiry
BUNNiNGS 8,592 Jul 13	WOOLWORTHS 3,102 Aug13
HARVEY NORMAN 5,958 Jul 17	ALDi FOODS 1,400 Jan 19

LEaSE EXpiry proFiLE % arEa	LEaSE EXpiry proFiLE % arEa
VAcANcY 18.9%	VAcANcY 7.3%
FY10 0.0%	FY10 3.4%
FY11 0.0%	FY11 3.1%
FY12 3.5%	FY12 4.2%
FY13 3.5%	FY13 10.8%
FY14 39.8%	FY14 32.4%
BEYOND 34.3%	BEYOND 38.8%
WALE 3.97 YEARS	WALE 4.55 YEARS

42 mirvac group PROPERTY COMPENDIUM

retail Portfolio

INVESTMENT

==> picture [256 x 143] intentionally omitted <==

logan mega Centre, PaCifiC HigHWay logan, Qld

==> picture [256 x 143] intentionally omitted <==

orion sPringfield toWn Centre, main street, sPringfield, Qld

DEScripTioN

Opened in March 2007, the centre is the premier homemaker facility in Brisbane. co-located with iKEA, the centre has excellent exposure to the M1 Motorway.

DEScripTioN

Located in Brisbane’s rapidly growing south western corridor, the centre was opened in March 2007 and includes Woolworths, Big W and 100 specialty stores. This town centre sets a new benchmark in environmentally sustainable initiatives. Planning for future stages is underway.

Summary iNFormaTioN

Summary iNFormaTioN	Summary iNFormaTioN
GRADE BulkyGoods centre	GRADE Sub Regional
OWNERSHiP 100% MPT	OWNERSHiP 100% MPT
GLA 27,102 sqm	GLA 33,366 sqm
cAR SPAcES 600	cAR SPAcES 2,200
AcQUiSiTiON DATE Oct 05	AcQUiSiTiON DATE Aug02(66.7%)Dec 09(33.3%)
VALUATiON AT 31 DEc 09 $63.5m	VALUATiON AT 31 DEc 09 $135.0m
VALUER DiREcTORS VALUATiON	VALUER DiREcTORS VALUATiON
LAST EXTERNAL VALUATiON DATE 31 Dec 08	LAST EXTERNAL VALUATiON DATE 31 Dec 08
cAPiTALiSATiON RATE 9.00%	cAPiTALiSATiON RATE 6.75%
DiScOUNT RATE 10.25%	DiScOUNT RATE 9.00%
cENTRE MAT N/A	cENTRE MAT $135m
maJor TENaNTS NLa Sqm LEaSE EXpiry	maJor TENaNTS NLa Sqm LEaSE EXpiry
SPOTLiGHT 3,509 Sep17	BiG W 8,198 Mar 27
ANAcONDA 3,425 Mar 17	WOOLWORTHS 4,321 Mar 27

LEaSE EXpiry proFiLE % arEa	LEaSE EXpiry proFiLE % arEa
VAcANcY 0.3%	VAcANcY 1.3%
FY10 0.0%	FY10 0.8%
	FY11 0.0%
FY11 0.0%
FY12 9.1%	FY12 16.1%
FY13 2.4%	FY13 9.1%
FY14 19.8%	FY14 6.4%
BEYOND 68.4%	BEYOND 66.2%
WALE 5.89 YEARS	WALE 9.46 YEARS

==> picture [256 x 143] intentionally omitted <==

Hinkler Central maryBorougH street, BundaBerg, Qld

==> picture [256 x 143] intentionally omitted <==

kaWana sHoPPingWorld niCklin Way, Buddina, Qld

DEScripTioN

Located in the strong regional centre of Bundaberg, the centre is enjoying the benefits of the redevelopment completed in June 2006. The centre comprises Woolworths, coles, K-mart and 70 specialty stores.

DEScripTioN

Located on Queensland’s Sunshine coast, this dominant centre comprises Woolworths, Big W, Bi-Lo and 102 specialty stores. Planning is underway for further centre expansion.

Summary iNFormaTioN

Summary iNFormaTioN	Summary iNFormaTioN
GRADE Sub Regional	GRADE Sub Regional
OWNERSHiP 100% MPT	OWNERSHiP 100% MPT
GLA 21,049 sqm	GLA 29,787 sqm
cAR SPAcES 1,046	cAR SPAcES 1,710
AcQUiSiTiON DATE Aug03	AcQUiSiTiON DATE Dec 93(50%)Jun 98(50%)
VALUATiON AT 31 DEc 09 $83.0m	VALUATiON AT 31 DEc 09 $186.0m
VALUER DiREcTORS VALUATiON	VALUER DiREcTORS VALUATiON
LAST EXTERNAL VALUATiON DATE 31 Mar 09	LAST EXTERNAL VALUATiON DATE 31 Dec 08
cAPiTALiSATiON RATE 7.75%	cAPiTALiSATiON RATE 6.75%
DiScOUNT RATE 9.50%	DiScOUNT RATE 9.25%
cENTRE MAT $145m	cENTRE MAT $236m
maJor TENaNTS NLa Sqm LEaSE EXpiry	maJor TENaNTS NLa Sqm LEaSE EXpiry
K-MART 6,208 Jul 15	BiG W 8,383 Jun 21
WOOLWORTHS 3,548 Mar 20	WOOLWORTHS 3,648 Nov 14

LEaSE EXpiry proFiLE % arEa	LEaSE EXpiry proFiLE % arEa
VAcANcY 0.2%	VAcANcY 0.5%
FY10 1.1%	FY10 20.8%
FY11 13.2%	FY11 6.4%
FY12 6.1%	FY12 0.6%
	FY12 0.6%
FY13 4.4%	FY13 3.9%
FY14 6.9%	FY14 3.1%
BEYOND 68.1%	BEYOND 64.8%
WALE 5.22 YEARS	WALE 5.86 YEARS

44 mirvac group PROPERTY COMPENDIUM

retail Portfolio

INVESTMENT

==> picture [256 x 143] intentionally omitted <==

City Centre Plaza, roCkHamPton, Qld

==> picture [256 x 143] intentionally omitted <==

morayfield suPa Centre, morayfield, Qld

DEScripTioN

city centre Plaza is situated on the fringe of Rockhampton’s cBD. The single level sub-regional shopping centre was modernised and upgraded during 2008. The centre is anchored by a Target store and a coles supermarket with 36 specialty shops.

DEScripTioN

Morayfield Supa centre is a single level bulky goods centre located 43 kilometres North of Brisbane. The centre is anchored by Spotlight, The Warehouse and Fantastic Furniture.

Summary iNFormaTioN

Summary iNFormaTioN
GRADE		Sub Regional
OWNERSHiP		100% MPT
NLA		14,107 sqm
cAR SPAcES		495
AcQUiSiTiON DATE		Dec 09
VALUATiON AT 31 DEc 09		$43.0m
VALUER		DiREcTORS VALUATiON
LAST EXTERNAL VALUATiON	DATE	30 Jun 09
cAPiTALiSATiON RATE		8.25%
DiScOUNT RATE		9.75%
cENTRE MAT		$82m
maJor TENaNTS	NLa Sqm	LEaSE EXpiry
TARGET	6,910	Jul 15
cOLES	3,670	Oct 13

Summary iNFormaTioN
GRADE		BulkyGoods
OWNERSHiP		100% MPT
NLA		22,325 sqm
cAR SPAcES		300
AcQUiSiTiON DATE		Dec 09
VALUATiON AT 31 DEc 09		$38.5m
VALUER		cBRE
LAST EXTERNAL VALUATiON	DATE	31 Dec 09
cAPiTALiSATiON RATE		9.50%
DiScOUNT RATE		10.50%
cENTRE MAT		N/A
maJor TENaNTS	NLa Sqm	LEaSE EXpiry
SPOTLiGHT	4,214	Aug18
THE WAREHOUSE	3,333	Feb 11

LEaSE EXpiry proFiLE % arEa	LEaSE EXpiry proFiLE % arEa
VAcANcY 0.0%	VAcANcY 0.0%
FY10 5.6%	FY10 2.7%

FY11 2.0%	FY11 44.3%
FY12 5.6%	FY12 2.3%
FY13 2.1%	FY13 7.0%
FY14 31.9%	FY14 8.5%
BEYOND 52.9%	BEYOND 35.3%
WALE 4.37 YEARS	WALE 3.72 YEARS

==> picture [256 x 143] intentionally omitted <==

Como Centre, Corner toorak road & CHaPel street, soutH yarra, viC

==> picture [256 x 143] intentionally omitted <==

giPPsland Centre CunningHame street, sale, viC

DEScripTioN

The como centre is a mixed use office, retail and hotel complex, with the retail component comprising 33 specialty stores and an Art House cinema. The centre is located on the popular retail strip of chapel Street, Melbourne.

DEScripTioN

Located in the heart of Sale’s cBD, the Gippsland centre includes coles, Safeway, Target and 50 specialty stores with abundant on-grade parking.

Summary iNFormaTioN

Summary iNFormaTioN	Summary iNFormaTioN
GRADE cBD Retail	GRADE Sub Regional
OWNERSHiP 100% MPT	OWNERSHiP 100% MPT
GLA 6,894 sqm	GLA 23,345 sqm
cAR SPAcES 635	cAR SPAcES 1,062
AcQUiSiTiON DATE Aug98	AcQUiSiTiON DATE Jan 94
VALUATiON AT 31 DEc 09 $17.5m	VALUATiON AT 31 DEc 09 $49.8m
VALUER DiREcTORS VALUATiON	VALUER DiREcTORS VALUATiON
LAST EXTERNAL VALUATiON DATE 30 Jun 09	LAST EXTERNAL VALUATiON DATE 31 Dec 08
cAPiTALiSATiON RATE 8.25%	cAPiTALiSATiON RATE 8.25%
DiScOUNT RATE 9.50%	DiScOUNT RATE 9.75%
cENTRE MAT $14m	cENTRE MAT $117m
maJor TENaNTS NLa Sqm LEaSE EXpiry	maJor TENaNTS NLa Sqm LEaSE EXpiry
ciNEMA cOMO 1,633 Dec 14	TARGET 7,764 Jul 10
EcO HAiR PRODUcTS 538 Oct 13	cOLES 3,388 Nov 13

LEaSE EXpiry proFiLE % arEa	LEaSE EXpiry proFiLE % arEa
VAcANcY 3.6%	VAcANcY 0.6%
FY10 7.0%	FY10 9.6%
FY11 5.0%	FY11 36.1%
FY12 6.0%	FY12 7.1%
FY13 11.0%	FY13 4.9%
FY14 12.8%	FY14 17.8%
BEYOND 54.6%	BEYOND 24.0%
WALE 3.80 YEARS	WALE 4.34 YEARS

46 mirvac group PROPERTY COMPENDIUM

retail Portfolio

INVESTMENT

==> picture [514 x 143] intentionally omitted <==

moonee Ponds Central Homer street, moonee Ponds, viC

DEScripTioN

Moonee Ponds central is a sub regional centre located 7km north of the Melbourne cBD and is adjacent to the busy Puckle Street retail strip. A second stage was added to the centre on an adjacent site in March 2009. The centre now offers a K-mart, coles, discount liquor retailer and 77 specialty stores.

Summary iNFormaTioN STagE 1	Summary iNFormaTioN STagE 2
GRADE Sub Regional	GRADE Sub Regional
OWNERSHiP 100% MPT	OWNERSHiP 100% MPT
GLA 6,244 sqm	GLA 12,366 sqm
cAR SPAcES 402	cAR SPAcES 536
AcQUiSiTiON DATE May03	AcQUiSiTiON DATE1 Feb 08
VALUATiON AT 31 DEc 09 $22.8m	VALUATiON AT 30 JUN 09 $38.7m
VALUER DiREcTORS VALUATiON	VALUER DiREcTORS VALUATiON
LAST EXTERNAL VALUATiON DATE 30 Jun 09	LAST EXTERNAL VALUATiON DATE 30 Jun 09
cAPiTALiSATiON RATE 8.00%	cAPiTALiSATiON RATE 8.50%
DiScOUNT RATE 9.50%	DiScOUNT RATE 9.75%
cENTRE MAT $54m	cENTRE MAT $30m
maJor TENaNTS NLa Sqm LEaSE EXpiry	maJor TENaNTS NLa Sqm LEaSE EXpiry
cOLES 4,000 May12	K-MART 4,728 Mar 24
MY cHEMiST 253 May15	FiRST cHOicE LiQUOR 1,118 Mar 19

LEaSE EXpiry proFiLE % arEa	LEaSE EXpiry proFiLE % arEa	LEaSE EXpiry proFiLE % arEa
VAcANcY 0.7%		VAcANcY 16.5%
FY10 5.4%		FY10 0.0%

FY11 4.1%		FY11 0.0%
FY12 65.3%		FY12 0.0%
FY13 0.0%		FY13 3.0%
FY14 1.5%		FY14 12.6%

BEYOND 23.0%		BEYOND 67.9%
WALE 3.14 YEARS		WALE 8.25 YEARS

1 DEVELOPMENT cOMPLETED MARcH 2009.

==> picture [256 x 143] intentionally omitted <==

Waverley gardens Corner PoliCe & JaCksons road mulgrave, viC

==> picture [256 x 143] intentionally omitted <==

Peninsula lifestyle nePean HigHWay, mornington, viC

DEScripTioN

Waverley Gardens is located adjacent to Mirvac’s Waverley Park residential development and the Monash freeway. A major upgrade and expansion was completed in March 2007 and includes Safeway, coles, Target, Big W, Aldi, Best & Less and over 100 specialty stores.

DEScripTioN

completed in 2005, this 32,000 sqm bulky goods centre services the growing region of the Mornington Peninsula.

Summary iNFormaTioN

Summary iNFormaTioN	Summary iNFormaTioN
GRADE Sub Regional	GRADE BulkyGoods centre
OWNERSHiP 100% MPT	OWNERSHiP 100% MPT
GLA 38,292 sqm	GLA 32,156 sqm
cAR SPAcES 2,245	cAR SPAcES 900
AcQUiSiTiON DATE Nov 02	AcQUiSiTiON DATE Dec 03
VALUATiON AT 31 DEc 09 $128.5m	VALUATiON AT 31 DEc 09 $48.3m
VALUER DiREcTORS VALUATiON	VALUER DiREcTORS VALUATiON
LAST EXTERNAL VALUATiON DATE 31 Dec 08	LAST EXTERNAL VALUATiON DATE 31 Dec 08
cAPiTALiSATiON RATE 7.75%	cAPiTALiSATiON RATE 9.00%
DiScOUNT RATE 9.50%	DiScOUNT RATE 10.00%
cENTRE MAT $166m	cENTRE MAT N/A
maJor TENaNTS NLa Sqm LEaSE EXpiry	maJor TENaNTS NLa Sqm LEaSE EXpiry
TARGET 6,796 Jun 20	cLiVE PEETERS 3,203 Aug17
BiG W 6,770 Mar 27	FANTASTic FURNiTURE 2,280 Aug12

LEaSE EXpiry proFiLE % arEa	LEaSE EXpiry proFiLE % arEa
VAcANcY 0.0%	VAcANcY 4.9%
FY10 1.8%	FY10 3.7%
FY11 9.6%	FY11 24.4%
FY12 8.0%	FY12 14.0%
FY13 7.0%	FY13 25.4%
FY14 3.3%	FY14 18.6%
BEYOND 70.3%	BEYOND 9.0%
WALE 8.44 YEARS	WALE 2.43 YEARS

48 mirvac group PROPERTY COMPENDIUM

retail Portfolio

INVESTMENT

==> picture [256 x 143] intentionally omitted <==

kWinana HuB gilmore avenue, kWinana, Wa[ 1]

DEScripTioN

Located in the outer southern Perth suburb of Kwinana, the centre currently comprises Woolworths and coles. The centre offers future redevelopment potential.

Summary iNFormaTioN

Summary iNFormaTioN
GRADE		Sub Regional
OWNERSHiP		100% MPT
GLA		17,336 sqm
cAR SPAcES		1,201
AcQUiSiTiON DATE		Sep05
VALUATiON AT 31 DEc 09		$25.0m
VALUER		DiREcTORS VALUATiON
LAST EXTERNAL VALUATiON	DATE	30 Jun 08
cAPiTALiSATiON RATE		8.25%
DiScOUNT RATE		9.75%
cENTRE MAT		$91m
maJor TENaNTS	NLa Sqm	LEaSE EXpiry
WOOLWORTHS	3,541	Aug10
cOLES	2,670	Sep11

LEaSE EXpiry proFiLE % arEa

VAcANcY	0.0%
FY10	51.9%
FY11	21.3%
FY12	14.8%
FY13	9.9%
FY14	1.0%
BEYOND	1.2%
WALE	0.92 YEARS

1 UNcONDiTiONAL cONTRAcT FOR SALE EXcHANGED AT 31 DEcEMBER 2009.

Hotel Portfolio

INVESTMENT

==> picture [256 x 143] intentionally omitted <==

tHe Como melBourne 630 CHaPel street, soutH yarra, viC

DEScripTioN

The como is a 107 room, 5 star boutique hotel which forms part of the mixed use como complex in the sought after inner south-eastern suburb of South Yarra.

propErTy DETaiLS

propErTy DETaiLS
OWNERSHiP		100% MPT
NO OF ROOMS		107
OccUPANcY		73.6%
AVERAGE ROOM RATE		$244.34
STAR RATiNG		5 star
AcQUiSiTiON DATE		Aug98
VALUATiON AT 31 DEc 09		$24.0m
VALUER	DiREcTORS VALUATiON
LAST EXTERNAL VALUATiON DATE		30 Jun 09
cAPiTALiSATiON RATE		9.00%
DiScOUNT RATE		11.25%

propErTy	LocaTioN	oWNErSHip	roomS	booK vaLuE
The como Melbourne	South Yarra,Vic	100% MPT	107	$24.0m2
ToTaL			107	$24.0m

1 NET OF FF&E.

2 BOOK VALUE AS AT 31 DEcEMBER 2009. EXcLUDES FF&E.

50 mirvac group PROPERTY COMPENDIUM

Parking Portfolio

INVESTMENT

==> picture [256 x 143] intentionally omitted <==

Quay West Car Park 109 – 111 Harrington street, sydney, nsW

==> picture [256 x 143] intentionally omitted <==

Como Centre Car Park CHaPel street, soutH yarra, viC

DEScripTioN

An eight level commercial car park comprising 600 spaces. The property is located under Quay West Suites in The Rocks area and close to the financial district of the Sydney cBD and several five star hotels. Two retail outlets are also incorporated at street level.

DEScripTioN

A multi-level car park comprising 629 spaces servicing the como centre complex including office, hotel, cinemas and retail.

propErTy DETaiLS

propErTy DETaiLS
OWNERSHiP	100% MPT
NUMBER OF BAYS	600
AcQUiSiTiON DATE	Nov 89
VALUATiON AT 31 DEc 09	$28.5m
VALUER	DiREcTORS VALUATiON
LAST EXTERNAL VALUATiON DATE	30 Jun 09
cAPiTALiSATiON RATE	9.25%
DiScOUNT RATE	10.50%

propErTy DETaiLS

propErTy DETaiLS
OWNERSHiP	100% MPT
NUMBER OF BAYS	629
AcQUiSiTiON DATE	Aug98
VALUATiON AT 31 DEc 09	$18.3m
VALUER	DiREcTORS VALUATiON
LAST EXTERNAL VALUATiON DATE	30 Jun 09
cAPiTALiSATiON RATE	9.50%
DiScOUNT RATE	10.25%

==> picture [256 x 143] intentionally omitted <==

riverside Quay Car Park Corner riverside Quay & soutHBank Boulevard, melBourne, viC

DEScripTioN

A separate building at the rear of MPT’s commercial complex providing a 560 space car park to the adjoining office buildings and surrounding Southbank precinct.

propErTy DETaiLS

propErTy DETaiLS
OWNERSHiP	100% MPT
NUMBER OF BAYS	560
AcQUiSiTiON DATE	Apr 02
VALUATiON AT 31 DEc 09	$17.3m
VALUER	DiREcTORS VALUATiON
LAST EXTERNAL VALUATiON DATE	30 Jun 09
cAPiTALiSATiON RATE	9.50%
DiScOUNT RATE	10.25%

					% oF parKiNg
					porTFoLio
propErTy	LocaTioN	oWNErSHip	TypE	car SpacES	booK vaLuE	booK vaLuE
QuayWest	Sydney,NSW	100% MPT	commercial	600	44.5%	$28.5m
The como centre	Melbourne,Vic	100% MPT	commercial/Retail	629	28.5%	$18.3m
Riverside Quay	Melbourne,Vic	100% MPT	commercial	560	27.0%	$17.3m
ToTaL				1,789	100.0%	$64.0m

52 mirvac group PROPERTY COMPENDIUM

investment management

INVESTMENT

WHOLESALE	FUNDS UNDER MANAGEMENT $1.2	BILLION
FUNDS

MIRvaC WhOlEsalE hOTEl FUND TRavElODgE gROUP MIRvaC WhOlEsalE REsIDENTIal DEvElOPMENT PaRTNERshIP

RETAIL	FUNDS UNDER MANAGEMENT $1.1 BILLION
LISTED	UNLISTED
MIRvaC INDUsTRIal TRUsT	MIRvaC PFa DIvERsIFIED PROPERTY TRUsT
	MIRvaC DEvElOPMENT FUND – sEasCaPEs
	MIRvaC DEvElOPMENT FUND – MEaDOW sPRINgs

JOINT VENTURES[ 1,2] FUNDS UNDER MANAGEMENT $3.3 BILLION AUSTRALIAN – FUNDS INTERNATIONAL – FUNDS JF INFRasTRUCTURE YIElD FUND qUaDRaNT FUND[3] aUsTRalIaN sUsTaINablE FOREsTRY INvEsTORs CalIFORNIa COMMUNITY MORTgagE[3] NEW ZEalaND sUsTaINablE FOREsTRY INvEsTORs CORE MORTgagE FUNDs 1 & 2[3] JF INFRasTRUCTURE sUsTaINablE EqUITY FUND INsTITUTIONal COMMERCIal MORTgagE FUND NOs 2 TO 5[ 3] MIRvaC aqUa INCOME FUND[ 4] MIRvaC aqUa hIgh INCOME FUND[ 4] MIRvaC aqUa ENhaNCED INCOME FUND MIRvaC aqUa sENIOR DEbT POOl MIRvaC aqUa CONsTRUCTION DEbT POOl MIRvaC aqUa MEZZaNINE DEbT POOl aUsTRalIaN MEZZaNINE CaPITal[5]

AUSTRALIAN – MANDATES INTERNATIONAL – MANDATES INTERNaTIONal PaRkINg gROUP qUaDRaNT REal EsTaTE aDvIsORs ETIhaD sTaDIUM hEalTh sUPER PTY lTD[ 3] PRIvaTE ClIENT MaNDaTEs

1 FiGURES QUOTED ARE AFTER ADJUSTMENTS FOR JOiNT VENTURE iNTERESTS.

2 MiRVAc iS A 50 PER cENT OWNER OF THE MANAGEMENT ENTiTY.

3 FUNDS MANAGED BY QUADRANT REAL ESTATE ADViSORS.

5 MANAGED BY QUADRANT REAL ESTATE ADViSORS.

4 UNiTHOLDERS MEETiNG EXPEcTED TO BE HELD iN MARcH 2010.

investment management / WHolesale

MIRVAC WHOLESALE HOTEL FUND

FocuS	Fum ($m) 1	No oF iNvESTorS
Wholesale	513.1	5

Mirvac Wholesale Hotel Fund was launched in 2007 and is an open-ended sector specific fund with total investor equity of $341 million and a portfolio of seven hotels located in Sydney, Melbourne, Brisbane and cairns. Total value of the portfolio is over $511 million.

The Fund’s portfolio consists of four hotels acquired from the carlton Hotel Group in 2007, together with the Marriott Hotel Sydney and a 50 per cent interest in The Sebel cairns, both of which were acquired from Mirvac in June 2007.

The Fund acquired the courtyard by Marriott Hotel at North Ryde for $31 million in August 2009, reflecting a 10 per cent passing yield.

All seven hotels are of a 4.0 to 4.5 star standard and provide a total of 2,024 rooms.

Details of the Fund’s investment portfolio are available from www.mirvac.com/mwhf.

TRAVELODGE GROUP

FocuS	Fum ($m) 1	No oF iNvESTorS
Wholesale	375.2	2

The Travelodge Group is an open-ended sector specific wholesale fund established in March 2005 and focuses on the 3.0 to 3.5 star hotel market in Australia and New Zealand. The portfolio comprises 13 hotels and 2,045 rooms with a value of $353 million all of which are leased to Value Lodging Pty Limited, a subsidiary of Toga Hospitality.

Details of the Travelodge Group’s investment portfolio are available from www.mirvac.com/travelodge-group.

MIRVAC WHOLESALE RESIDENTIAL DEVELOPMENT PARTNERSHIP

FocuS	Fum ($m) 2,3	END vaLuE ($m) 3	No oF iNvESTorS
Wholesale	287.5	2,093	4

The Mirvac Wholesale Residential Development Partnership is a closed-end vehicle that has acquired interests in 10 well located residential development/management projects around Australia, that are diversified by geography, product type, timing and stage of the development cycle. The portfolio comprised 2,287 lots and 1,167 medium density units.

The Partnership has raised equity commitments of $300 million, including Mirvac’s 20 per cent co-investment, of which $287.5 million has been applied to the establishment of the current portfolio.

Details of the Partnership’s investment portfolio are available from www.mirvac.com/mwrdp.

1 SUBJEcT TO FiNAL AUDiT AND BOARD APPROVAL.

2 THE FUM NUMBER REPRESENTS cONTRiBUTED EQUiTY.

3 FUM AND END VALUE ARE FOREcAST TO 31 DEcEMBER 2009.

54 mirvac group PROPERTY COMPENDIUM

investment management / listed – retail

MIRVAC INDUSTRIAL TRUST

FocuS	Fum auD ($m)	1	No oF iNvESTorS
Listed			2,361

Mirvac industrial Trust (“MiX”) is an ASX listed property Trust. The portfolio consists of 64 industrial assets leased to a diverse range of quality tenants in and around the Greater chicago region. Details of MiX’s investment portfolio are available from the Trust’s website www.mirvac.com/mix.

unlisted – retail

MIRVAC PFA DIVERSIFIED PROPERTY TRUST

FocuS	Fum ($m) 2	No oF iNvESTorS
Listed	574.2	4,214

Mirvac PFA Diversified Property Trust is an unlisted property Trust. The Trust owns a portfolio of 18 quality Australian properties, diversified across the retail, commercial, industrial and hotel sectors, with a book value of $561.2 million as at 31 December 2009. Details of the Trust’s investment portfolio are available from www.mirvac.com/mpfa.

MIRVAC DEVELOPMENT FUNDS — SEASCAPES & MEADOW SPRINGS

FocuS	Fum ($m)	2	No oF iNvESTorS
Retail	59.6		439

Mirvac investment Management provides sector specific and specialised unlisted funds, across the retail market. At 31 December 2009, Mirvac investment Management had two active unlisted funds with approximately $59.6 million under management.

Details of the unlisted fund portfolio are available from www.mirvac.com/investmentmanagement.

1 FUM WiLL BE ADViSED POST MiX RESULTS ON 17 FEBRUARY 2010. 2 SUBJEcT TO FiNAL AUDiT AND BOARD APPROVAL.

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ConstruCtion at rHodes Waterside, nsW
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56 mirvac group PROPERTY COMPENDIUM

investment management / Jv australia

MIRVAC AQUA

FocuS	Fum ($m) 1,2,3	No oF iNvESTorS
Retail/Wholesale	183.8	1,641

Mirvac AQUA is an investment management company equally owned by Mirvac Real Estate Debt Funds Pty Limited and AQUA Funds Management Pty Limited, a wholly owned subsidiary of Balmain NB corporation Limited. Mirvac AQUA has been engaged by Mirvac investment Management to provide investment management services in connection with the Funds.

FuND	aSSET	FuND SiZE 1
	invests in:
	Mirvac AQUA Senior Debt Pool
	Mirvac AQUA construction Debt Pool
Mirvac AQUA High income Fund	Mirvac AQUA Mezzanine Debt Pool	$133.8m
	invests in:
	Mirvac AQUA Senior Debt Pool
	Mirvac AQUA construction Debt Pool
Mirvac AQUA Enhanced income Fund	Mirvac AQUA Mezzanine Debt Pool	$4.5m
Mirvac AQUA income Fund	invests in Mirvac AQUA Senior Debt Pool	$40.6m
	includes investments by Mirvac AQUA income Fund,
Mirvac AQUA Senior Debt Pool	High income Fund and Enhanced income Fund	$42.0m
	includes investments by Mirvac AQUA High income Fund
Mirvac AQUA construction Debt Pool	and Enhanced income Fund	$8.0m
	includes investments by Mirvac AQUA High income Fund
Mirvac AQUA Mezzanine Debt Pool	and Enhanced income Fund	$130.9m

1 AFTER PROViSiON FOR iMPAiRMENT iN ASSETS.

2 BEFORE ADJUSTiNG FOR JOiNT VENTURE iNTERESTS.

3 SUBJEcT TO FiNAL AUDiT AND BOARD APPROVAL.

JF INFRASTRUCTURE

FocuS	Fum ($m) 1,2	No oF iNvESTorS
Wholesale	216.8	49
Mandates	579.2	6

JF infrastructure (“JFi”) is a 50/50 joint venture between Mirvac and Leighton Holdings Limited (“LHL”).

Mirvac and LHL have previously announced their intention to exit the infrastructure investment management business. initiatives to effect this objective are currently being implemented.

WHOLESALE FUNDS

FuND	aSSETS	groSS aSSETS 1
	20.8% equity interest in international Parking Group the benefcial owner
	of nine major hospital car parks in Sydney and Brisbane.
	33.3% equity interest in BAc Airports Group, which benefcially
	owns Bankstown and camden Airports in Sydney.
	22.4% equity interest in JF Stadium Trusts which are the owners
JF infrastructure Yield Fund	of Etihad Stadium,Melbourne.	$74.0m 3
	20,552 hectares of freehold forestry land in Victoria,
Australian Sustainable Forestry investors	South Australia and Western Australia.
	12,881 hectares of freehold forestry land in Gisborne, New Zealand
New Zealand Sustainable Forestryinvestors	stocked with 9,169 hectares of standingradiatapine.	$135.9m 3,4
	Holds an equity investment in Australian Sustainable Forestry investors
JF infrastructure Sustainable EquityFund	(assets as above).	$6.9m
ToTaL WHoLESaLE FuNDS		$216.8m

MANDATES

maNDaTE	aSSETS	groSS aSSETS 1
Etihad Stadium	Etihad Stadium,Melbourne	$361.6m 3
international ParkingGroup	Leases/Licenses held over nine major hospital carparks	$191.8m 4
Private clients	Mandates managed on behalf ofprivate clients	$25.8m 3
ToTaL maNDaTES		$579.2m 2

1 SUBJEcT TO FiNAL BOARD APPROVAL.

2 BEFORE ADJUSTiNG FOR JOiNT VENTURE iNTERESTS.

3 LATEST iNDEPENDENT VALUATiON 31 DEcEMBER 2009.

4 LATEST iNDEPENDENT VALUATiON 30 JUNE 2009.

58 mirvac group PROPERTY COMPENDIUM

investment management / Jv international

QUADRANT REAL ESTATE ADVISORS

FocuS	Fum ($m) 1,2
Wholesale Funds	$165.0
Mandates	$5,482.9

Quadrant Real Estate Advisors, LLc has offices in the United States (Atlanta, Georgia) and in Sydney, and provides real estate investment management services to institutional investors with current assets under management of approximately A$5.6 billion. Quadrant is a 50/50 joint venture between the senior management of Quadrant and Mirvac.

The management team has been advising institutional investors since the early 1990s and develops and manages investment strategies on behalf of a wide range of US and Australian institutional (wholesale) investors across the public and private debt and equity real estate markets.

clients include:

Health Super Pty Limited
california Public Employees’ Retirement System (“calPERS”)
AXA – Equitable Life
TiAA – cREF
Denver Public Schools Retirement System
Minnesota State Board of investment

Quadrant’s strategy is to continue to develop leading edge public and private real estate investment products which provide access to targeted sectors of the US and Australian income producing real estate markets.

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ASSET UNDER MANAGEMENT
(by fund type) [1]
■ SEPARATE MANDATES 97%
■ WHOLESALE FUNDS 3%
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ASSET UNDER MANAGEMENT
(by property type)
■ COMMERCIAL 39%
■ MULTI-FAMILY 18%
■ RETAIL 15%
■ OTHER 12%
■ INDUSTRIAL 10%
■ HOTELS 6%
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AUSTRALIAN MEZZANINE CAPITAL[ 3]

FocuS	Fum ($m)	2	No oF iNvESTorS
Wholesale	47.9		2

Australian Mezzanine capital consists of two investment mandates between the Government investment corporation of Singapore and Mirvac capital investments.

aSSET			FuND SiZE
Mortgages over	6	properties/projects	$59.8m

1 AUD/USD EXcHANGE RATE OF 0.8969.

2 BEFORE ADJUSTiNG FOR JOiNT VENTURE iNTERESTS.

3 MANAGED BY QUADRANT REAL ESTATE ADViSORS LLc.

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mirvaC Head offiCe, 60 margaret street, sydney, nsW
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60 mirvac group PROPERTY COMPENDIUM

investment management / Hotels

HOTEL MANAGEMENT PORTFOLIO

	STaTE	No oF
propErTy	LocaTioN	roomS	oWNErSHip
NSW
QuayGrand Suites Sydney	NSW	65	Strata/Management Lot
QuayWest Suites Sydney	NSW	109	Strata/Management Lot
The Sebel Pier One Sydney	NSW	160	Managed
SydneyMarriott Hotel	NSW	241	Managed
The Sebel Residence chatswood	NSW	54	Strata/Management Lot
The Sebel SurryHills Sydney	NSW	270	Managed
The Sebel Kirkton Park Hunter Valley	NSW	71	Managed
The Sebel Resort & Spa HawkesburyValley	NSW	105	Managed
The Sebel Harbourside,Kiama	NSW	88	Managed/Strata
The Sebel ManlyBeach	NSW	83	Strata/Management Lot
QuayWest Resort Magenta Shores	NSW	95	Strata/Management Lot
citigate central Sydney	NSW	255	Managed
The Sebel Parramatta	NSW	194	Managed
Harbour Rocks Hotel	NSW	55	Managed
citigate Mount Panorama	NSW	111	Managed
vic
The como Melbourne	Vic	107	100% Owned
QuayWest Suites Melbourne	Vic	100	Strata/Management Lot
The Sebel Melbourne	Vic	115	Strata/Management Lot
The Sebel Heritage Yarra Valley	Vic	102	Managed/Strata
citigate Melbourne	Vic	179	Managed
citigate Albert Park Melbourne	Vic	132	Managed
The Sebel Albert Park Melbourne	Vic	247	Managed
Hotel Lindrum Melbourne	Vic	59	Managed
QuayWest Resort & Spa Falls creek	Vic	40	Managed/Strata
The Sebel DeepBlue Warnambool	Vic	80	Managed
qLD
QuayWest Suites Brisbane	QLD	62	Strata/Management Lot
The Sebel Suites Brisbane	QLD	164	Strata/Management Lot
The Sebel cairns	QLD	321	Managed
The Sebel Maroochydore	QLD	62	Strata/Management Lot
Sea Temple Resort & Spa Palm cove	QLD	87	Strata/Management Lot
The Sebel Reef House & Spa Palm cove	QLD	69	Managed
The Sebel Resort Noosa	QLD	72	Strata/Management Lot
Sea Temple Resort & Spa Port Douglas	QLD	149	Strata/Management Lot
citigate KingGeorge Square Brisbane	QLD	228	Managed
The Sebel KingGeorge Square Brisbane	QLD	210	Managed
cairns Harbour Lights	QLD	99	Strata/Management Lot
Wa
QuayWest Resort Bunker Bay	WA	150	Strata/Management Lot
The Sebel Residence East Perth	WA	57	Managed
citigate Perth	WA	278	Managed
The Sebel Mandurah	WA	84	100% Owned

			61 i
	STaTE	No oF
propErTy	LocaTioN	roomS	oWNErSHip
Sa
The Sebel Playford Adelaide	SA	182	Franchise
TaS
The Sebel Launceston	TAS	51	Managed
NZ
QuayWest Suites Auckland	NZ	52	Strata/Management Lot
The Sebel Suites Auckland	NZ	125	Strata/Management Lot
The Sebel TrinityWharf Tauranga	NZ	122	Managed
ToTaL NumbEr oF roomS aT 31 DEcEmbEr 2009		5,741

FUTURE HOTELS

	STaTE	No oF
propErTy NamE	LocaTioN	roomS	opENiNg
QuayWest Resort & Spa Noosa	QLD	80	FY10
The Sebel Newcastle Beach	NSW	89	FY11
The Sebel Leighton Beach Perth	WA	100	FY12
ToTaL HoTEL opENiNgS		269

GEOGRAPHIC DIVERSIFICATION

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■ NSW 34.1%
■ VIC 20.2%
■ QLD 26.5%
■ WA 9.9%
■ SA 3.2%
■ TAS 0.9%
■ NZ 5.2%
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OWNERSHIP

DIVERSIFICATION

	■STRATA 28.6%
	■MANAGED 64.9%
	■OWNED 3.3%
	■FRANCHISE 3.2%

62 mirvac group PROPERTY COMPENDIUM

mariner’s Peninsula, toWnsville, Qld

develoPment

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residential develoPment
23,662 lots
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64 mirvac group PROPERTY COMPENDIUM

residential develoPment

RESIDENTIAL PIPELINE

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FORECAST REVENUE

■ NSW 16.5% ■ VIC 28.9% ■ QLD 24.1% ■ WA 30.5%

LOTS UNDER CONTROL

$11.2 BILLION

23,662 LOTS

NSW 16.7% ■ VIC 36.2% ■ QLD 17.1%

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WA 29.9%

RESIDENTIAL FORECAST REVENUE

MIRVAC SHARE FORECAST REVENUE

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d
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$7.2 BILLION

■ NSW 17.2%

■ VIC 30.1%

■ QLD 32.5%

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WA 20.3%

HOUSE AND LAND $3.6 BILLION

■ NSW 22.7% ■ VIC 32.4% ■ QLD 27.3% ■ WA 17.6%

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APARTMENTS $3.6 BILLION

NSW 11.7% ■ VIC 27.8% ■ QLD 37.6% ■ WA 22.9%

66 mirvac group PROPERTY COMPENDIUM

residential develoPment

NEW SOUTH WALES

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7 6
13 8 9
11 10
13
14
16
17
19 18
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5
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SYDNEY CBD

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12
15
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1
2
3
4
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NELSON BAY
GILLIESTON
FLETCHER
THE ROYAL, NEWCASTLE
MAGENTA SHORES, NTH ENTRANCE
BURNS ROAD, WAHROONGA 7. RIVERSTONE
NEWBURY, STANHOPE 9. CHELSEA GARDENS, CASTLE HILL 10. SPRINGDALE, KILLARA
EDGEWOOD, WOODCROFT
RHODES WATERSIDE, RHODES
ASHGROVE, AUBURN
MIDDLETON GRANGE
ENDEAVOUR 88, COOGEE
PANORAMA, GLENFIELD
MORNINGTON, HOLSWORTHY
LEUMEAH
SPRING FARM

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d
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Panorama estate, glenfield, nsW
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MIRVAC SHARE
FORECAST REVENUE
$1.2 BILLION
■HOUSES / LAND	65.9%
■APARTMENTS	34.1%

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LOTS UNDER	CONTROL
3,962
■HOUSES / LAND	79.7%
■APARTMENTS	20.3%

68 mirvac group PROPERTY COMPENDIUM

residential develoPment / in Progress

NEW SOUTH WALES

			proJEcT
	acquiSiTioN		vaLuE	ToTaL				SETTLEmENT DaTE1
propErTy	DaTE	LocaTioN	(iNcL. gST)	LoTS	rELEaSED	EXcHaNgED	SETTLED	From	To
SpriNgDaLE	Jun 03	Killara	$76m	60	60	51	40	Nov 07	Dec 10
magENTa SHorES	Oct 01	North Entrance	$235m	243	243	143	138
Villas Stage 2 and Terraces 3			$40m	58	58	6	5	Mar 09	Jun 13
Houses Stage 2			$46m	44	44	10	10	Nov 07	Aug13
Beach Houses Stage 8			$15m	9	9	2	0	Jun 10	Jan 12
Villas Stage 1			$62m	80	80	79	79	Dec 06	Oct 10
Houses Stage 1 + 1A			$49m	42	42	39	37	Nov 06	Sep11
Beach Houses Stage 9			$23m	10	10	7	7	Mar 07	Nov 11
THE royaL	Jun 07	Newcastle	$172m	167	167	99	0
Stage 1A			$97m	94	94	54	0	Apr 10	Oct 11
Stage 1B			$75m	73	73	45	0	Oct 10	Oct 11
rHoDES WaTErSiDE
mWrDp	Jan 073	Rhodes	$314m	481	481	414	392
completed Stages			$57m	95	95	95	95	May08	Aug08
Stage 4 Amarco			$145m	222	222	160	138	Dec 09	May12
Stage 6 Tandara			$112m	164	164	159	159	Feb 09	May10
ENDEavour 88	Apr 03	coogee	$49m	35	0	0	0	May11	Sep11

1 SETTLEMENT DATES MAY VARY AS ciRcUMSTANcES cHANGE.

2 cONSTRUcTiON PROGRESS AS A PERcENTAGE OF cOST, WHicH iNcLUDES LAND SUBDiViSiON BUT NOT LAND AcQUiSiTiON. 3 TRANSAcTiON DATE.

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				69 d
currENT pricE raNgE	proJEcT pErioD coNSTrucTioN
From/To	(caLENDar yEar)	progrESS 2	DEScripTioN	oWNErSHip STrucTurE
$1.0m – $2.5m	early2006 – mid 2010	100%	Apartments	100% Mirvac Limited
				100% Mirvac Limited
$595,000 – $1.1m	end 2006 – mid 2013	100%	Villas andgolf front houses
$930,000 – $1.7m	end 2006 – mid 2013	100%	Golf front houses
$1.5m – $2.2m	mid 2007 – mid 2012	100%	Beach front houses
$590,000 – $910,000	early2005 – end 2010	100%	Villas
$950,000 – $1.6m	mid 2005 – mid 2011	100%	Golf front houses
$2.1m – $3.4m	mid 2005 – early2011	100%	Beach front houses
			Apartments	100% Mirvac Limited
$295,000 – $1.8m	mid 2007 – end 2011	95%
$330,000 – $4.5m	mid 2007 – end 2011	60%
				100% MWRDP
				(Mirvac Limited 20%
			Apartments	equityinterest)
$380,000 – $920,000	end 2006 – mid 2008	100%
$453,000 – $1.2m	early2008 – mid 2012	100%
$460,000 – $1.4m	mid 2007 – mid 2010	100%
$1.2m – $1.6m	end 2009 – end 2011	15%	Housing	100% Mirvac Limited

70 mirvac group PROPERTY COMPENDIUM

residential develoPment / ProPosed

NEW SOUTH WALES

			proJEcT
	acquiSiTioN		vaLuE	ToTaL	proJEcT pErioD
propErTy	DaTE	LocaTioN	(iNcL. gST)	LoTS	(caLENDar yEar)	DEScripTioN	oWNErSHip STrucTurE
magENTa SHorES	Oct 01	North Entrance	$288m	249	mid 2012 – mid 2016	Golf front houses	100% Mirvac Limited
ENDEavour 88	Apr 03	coogee	$142m	103	end 2010 – mid 2012	Housing	100% Mirvac Limited
THE royaL	Jun 07	Newcastle	$196m	184	early2012 – end 2015	Apartments	100% Mirvac Limited
							100% MWRDP
rHoDES WaTErSiDE							(Mirvac Limited 20%
mWrDp	Jan 07	Rhodes	$240m	353	mid 2010 – mid 2015	Apartments	equityinterest)

tHe royal, neWCastle, nsW (artist’s imPression)

72 mirvac group PROPERTY COMPENDIUM

residential develoPment / in Progress

NEW SOUTH WALES / HOMES

			proJEcT
	acquiSiTioN		vaLuE	ToTaL				SETTLEmENT DaTE1
propErTy	DaTE	LocaTioN	(iNcL. gST)	LoTS	rELEaSED	EXcHaNgED	SETTLED	From	To
paNorama	Jun 01	Glenfeld	$150m	400	249	249	223
Stage 1A			$38m	98	97	97	97	Dec 05	Jun 10
Stage 1B			$45m	120	120	120	120	Dec 05	Dec 09
Stage 1c			$16m	41	32	32	6	Jan 09	Sep11
Stage 2A			$51m	141	0	0	0	Mar 10	Jan 13
NEWbury ESTaTE	Dec 99	Stanhope	$210m	1,708	1,641	1,641	1,627
completed Stages			$33m	198	198	198	198	Jun 04	Jun 09
Stage 1			$22m	240	240	240	239	Jun 02	Jan 10
Stage 2			$36m	380	380	380	380	Sep02	Jul 09
Stage 4			$26m	242	242	242	242	Feb 04	Jul 09
Stage 5			$37m	237	237	237	232	Jun 04	Jan 10
Stage 6			$24m	169	169	169	169	Jan 06	Dec 09
Stage 7			$32m	242	175	175	167	Sep06	Aug11
EDgEWooD	Apr 03	Woodcroft	$121m	388	388	388	386
completed Stages			$50m	146	146	146	146	Jan 07	Nov 09
Stage 1			$25m	79	79	79	79	Feb 06	Nov 09
Stage 2			$5m	16	16	16	16	Sep06	Nov 09
Stage 3			$21m	74	74	74	73	Nov 06	Jan 10
Stage 4			$20m	73	73	73	72	Jul 07	Jan 10
aSHgrovE	Jun 02	Auburn	$127m	263	229	209	166
completed Stages			$25m	56	56	56	56	Feb 07	Jun 09
Stage 2			$11m	18	18	18	18	Feb 07	Jun 09
Stage 3			$16m	39	39	39	39	Feb 07	Jun 09
Stage 4			$11m	18	18	18	18	Feb 07	Dec 10
Stage 5			$14m	35	35	35	35	Feb 07	Oct 09
Stage 6			$20m	33	0	0	0	Feb 07	Jun 11
Stage 7			$15m	28	27	9	0	Feb 07	Jun 11
Stage 8			$15m	36	36	34	0	Feb 07	Jun 11

1 SETTLEMENT DATES MAY VARY AS ciRcUMSTANcES cHANGE.

2 cONSTRUcTiON PROGRESS AS A PERcENTAGE OF cOST, WHicH iNcLUDES LAND SUBDiViSiON BUT NOT LAND AcQUiSiTiON.

				73 d
currENT pricE raNgE	proJEcT pErioD coNSTrucTioN
From/To	(caLENDar yEar)	progrESS2	DEScripTioN	oWNErSHip STrucTurE
				100% Mirvac Limited
$250,000 – $500,000	mid 2001 to mid 2011	100%	Mix of residential and retail lots
$250,000 – $480,000	mid 2001 to mid 2011	95%	Mix of residential and retail lots
$280,000 – $465,000	mid 2001 to end 2011	70%	Spec housing
$190,000 – $450,000	mid 2001 to mid 2014	40%	Residential lots and spec houses
			Mix of residential and retail lots	PDA with Landcom
$165,000 – $560,000	mid 2000 – mid 2009	100%
$150,000 – $530,000	mid 2000 – early2010	100%
$208,000 – $560,000	mid 2000 – mid 2009	100%
$225,000 – $550,000	mid 2000 – end 2009	100%
$200,000 – $540,000	mid 2000 – early2010	98%
$248,000 – $550,000	mid 2000 – end 2009	100%
$200,000 – $540,000	mid 2000 – mid 2011	95%
			Mix of residential and retail lots	PDA with cSR Limited
$318,000 – $365,000	early2005 – end 2009	100%
$245,000 – $570,000	early2005 – end 2009	100%
$250,000 – $255,000	early2005 – end 2009	100%
$246,000 – $435,000	early2005 – early2010	100%
$250,000 – $345,000	early2005 – early2010	100%
	end 2003 – mid 2011		Residential estate	100% Mirvac Limited
$280,000 – $595,000		100%
$575,000 – $592,000		100%
$185,000 – $455,000		100%
$580,000 – $592,000		100%
$285,000 – $455,000		100%
$585,000 – $595,000		0%
$480,000 – $595,000		10%
$295,000 – $460,000		35%

74 mirvac group PROPERTY COMPENDIUM

residential develoPment / in Progress

NEW SOUTH WALES / HOMES

			proJEcT
	acquiSiTioN		vaLuE	ToTaL				SETTLEmENT DaTE1
propErTy	DaTE	LocaTioN	(iNcL. gST)	LoTS	rELEaSED	EXcHaNgED	SETTLED	From	To
cHELSEa garDENS	Jun 02	castle Hill	$50m	63	45	39	23	Aug07	Jan 11
LEumEaH	Jul 05	Leumeah	$26m	92	91	84	57
Stage 1			$10m	27	26	21	11	Jul 09	Jun 10
Stage 2			$16m	65	65	63	46	Jun 09	Jul 10
giLLiESToN	Jul 06	Gillieston	$74m	398	90	58	55	Mar 08	Dec 14
SpriNg Farm	Jun 08	SpringFarm	$65m	248	162	108	103
Stage 1			$34m	120	117	92	92	Oct 08	Nov 10
Stage 2A			$13m	54	45	16	11	Nov 09	Jan 11
Stage 2B			$11m	45	0	0	0	Oct 10	Oct 11
Stage 2c			$7m	29	0	0	0	Jul 11	Feb 12
NELSoN bay	Jun 07	Nelson Bay	$8m	18	18	18	18	Nov 08	Sep09
miDDLEToN graNgE	Sep07	Middleton	$90m	362	170	99	84
Stage 1A			$27m	94	93	65	63	Apr 09	Dec 11
Stage 1B			$13m	60	47	27	21	Sep09	Jun 10
Stage 2			$29m	118	30	7	0	Feb 10	Sep10
Stage 3			$21m	90	0	0	0	Jul 10	Jan 11
FLETcHEr	Dec 07	Fletcher	$36m	268	73	51	47	Nov 08	Jul 13
burNS roaD	Nov 02	Wahroonga	$25m	17	17	17	17	Jul 09	Dec 09

1 SETTLEMENT DATES MAY VARY AS ciRcUMSTANcES cHANGE.

2 cONSTRUcTiON PROGRESS AS A PERcENTAGE OF cOST, WHicH iNcLUDES LAND SUBDiViSiON BUT NOT LAND AcQUiSiTiON.

				75 d
currENT pricE raNgE	proJEcT pErioD coNSTrucTioN
From/To	(caLENDar yEar)	progrESS 2	DEScripTioN	oWNErSHip STrucTurE
$685,000 – $920,000	mid 2002 – mid 2011	72%	Residential estate	100% Mirvac Limited
			Houses
$325,000 – $410,000	mid 2005 – mid 2010	93%		100% Mirvac Limited
$325,000 – $410,000	early2006 – mid 2010	94%		PDA with Lombard PtyLtd
$142,000 – $405,000	early2008 – end 2014	25%	Residential estate	100% Mirvac Limited
				100% Mirvac Limited
$185,000 – $450,000	mid 2008 – end 2010	100%	Residential estate
$170,000 – $400,000	mid 2008 – early2011	80%	Built form and land lots
$170,000 – $335,000	mid 2008 – end 2011	10%	Built form and land lots
$170,000 – $335,000	mid 2008 – early2012	10%	Built form and land lots
$365,000 – $469,000	mid 2007 – mid 2009	100%	Houses	100% Mirvac Limited
			Residential estate	PDA with Landcom
$176,000 – $290,000	mid 2007 – end 2011	100%
$181,000 – $299,000	mid 2007 – mid 2010	100%
$180,000 – $310,000	mid 2007 – mid 2010	100%
$180,000 – $275,000	end 2007 – early2011	0%
$159,000 – $249,000	end 2007 – mid 2013	30%	Residential estate	PDA with Kingston Fletcher
$440,000 – $2.1m	end 2002 – early2010	100%	Detached homes including1 heritage house	100% Mirvac Limited

76 mirvac group PROPERTY COMPENDIUM

residential develoPment / ProPosed

NEW SOUTH WALES / HOMES

			proJEcT
	acquiSiTioN		vaLuE	ToTaL	proJEcT pErioD
propErTy	DaTE	LocaTioN	(iNcL. gST)	LoTS	(caLENDar yEar)	DEScripTioN	oWNErSHip STrucTurE
						Mix of residential
paNorama	Jun 01	Glenfeld	$84m	246	end 2007 – mid 2015	and retail lots	100% Mirvac Limited
						Mix of residential
rivErSToNE	Sep03	Riverstone	$10m	5	mid 2009 – mid 2010	and retail lots	100% Mirvac Limited
SpriNg Farm	Jun 08	SpringFarm	$3m	5	mid 2008 – mid 2010	Houses	100% Mirvac Limited
						Mix of residential
miDDLEToN graNgE	Sep07	Middleton	$75m	346	end 2010 – end 2011	and retail lots	PDA with Landcom
SouTH cEciL HiLLS	Sep07	South cecil Hills	$167m	630	mid 2001 – mid 2010	Land lots	PDA with Landcom

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middleton grange, middleton, nsW
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78 mirvac group PROPERTY COMPENDIUM

residential develoPment

QUEENSLAND

==> picture [568 x 687] intentionally omitted <==

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

1 1. MARINER’S PENINSULA, TOWNSVILLE
2. WATERFRONT, NEWSTEAD
3. WATERLINE, BULIMBA
4. MOSSVALE ON MANLY
5. THE SANCTURY, MOGGILL
6. TENNYSON RIVERSIDE
7. BROOKWATER, SPRINGFIELD
8. GAINSBOROUGH GREENS, PIMPAMA
9. EPHRAIM ISLAND
10. HOPE ISLAND
2
3
4
6
5
BRISBANE CBD
7
8
9
10
----- End of picture text -----

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

Waterfront, neWstead, Qld

==> picture [101 x 100] intentionally omitted <==

MIRVAC SHARE
FORECAST REVENUE
$2.3 BILLION
■HOUSES / LAND	41.9%
■APARTMENTS	58.1%

==> picture [104 x 100] intentionally omitted <==

LOTS UNDER	CONTROL
4,050
■HOUSES / LAND	71.3%
■APARTMENTS	28.7%

80 mirvac group PROPERTY COMPENDIUM

residential develoPment / in Progress

QUEENSLAND

			proJEcT
	acquiSiTioN		vaLuE	ToTaL				SETTLEmENT DaTE1
propErTy	DaTE	LocaTioN	(iNcL. gST)	LoTS	rELEaSED	EXcHaNgED	SETTLED	From	To
WaTErLiNE	Jul 02	Bulimba	$132m	141	141	140	140
completed Stages			$76m	85	85	85	85	Jun 04	Jun 09
Stage 2			$56m	56	56	55	55	Jun 04	Apr 10
moSSvaLE oN maNLy
mWrDp	Jun 073	Wakerley	$123m	180	102	44	36
Stage 9			$97m	141	63	5	0	Sep09	May13
Stage 10			$26m	39	39	39	36	Oct 08	Feb 10
EpHraim iSLaND	Nov 01	Paradise Point	$506m	383	382	318	315
Stage 1			$140m	136	135	135	135	Jun 05	Jun 14
Stage 2			$142m	94	94	93	91	Apr 06	Mar 10
Stage 3			$128m	85	85	66	65	Dec 06	May14
Stage 4A			$13m	7	7	7	7	Feb 09	Aug09
Stage 4B			$83m	61	61	17	17	Apr 08	Jan 15
THE SaNcTuary
oN moggiLL	Sep04	Moggill	$68m	228	178	177	174
Stage 1A			$28m	64	64	64	64	Mar 07	Sep09
Stage 1B			$13m	56	56	56	56	Nov 07	Dec 09
Stage 2A			$13m	50	0	0	0	Jul 10	Aug11
Stage 4			$14m	58	58	57	54	Feb 10	Jun 10

1 SETTLEMENT DATES MAY VARY AS ciRcUMSTANcES cHANGE.

2 cONSTRUcTiON PROGRESS AS A PERcENTAGE OF cOST, WHicH iNcLUDES LAND SUBDiViSiON BUT NOT LAND AcQUiSiTiON. 3 TRANSAcTiON DATE.

				81 d
currENT pricE raNgE	proJEcT pErioD coNSTrucTioN
From/To	(caLENDar yEar)	progrESS2	DEScripTioN	oWNErSHip STrucTurE
			Houses,riverfront houses and apartments	PDA with Roche Group
$500,000 – $3.0m	mid 2004 – mid 2007	100%
$735,000 – $1.5m	mid 2006 – end 2009	100%
				100% MWRDP (Mirvac
			Houses	Limited 20% Equityinterest)
$620,000 – $765,000	early2009 – mid 2013	19%
$620,000 – $740,000	mid 2007 – early2010	100%
				50% Mirvac Limited
				50% Lewis Land Group
				of companies
$525,000 – $2.8m	mid 2003 – early2014	100%	Apartments and marina berths
$755,000 – $4.9m	mid 2004 – end 2010	100%	Apartments,villas and marina berths
$620,000 – $4.5m	mid 2005 – mid 2014	100%	Apartments,houses and marina berths
$2.0m	mid 2008 – end 2009	100%	Land
$790,000 – $4.7m	early2005 – early2015	100%	Apartments and marina berths
				100% Mirvac Limited
$195,000 – $590,000	end 2006 – end 2009	100%	Houses and spec homes
$175,000 – $300,000	end 2006 – mid 2009	100%	Land
$220,000 – $275,000	early2010 – end 2011	0%	Land
$200,000 – $285,000	end 2007 – mid 2010	100%	Land

82 mirvac group PROPERTY COMPENDIUM

residential develoPment / in Progress

QUEENSLAND

			proJEcT
	acquiSiTioN		vaLuE	ToTaL				SETTLEmENT DaTE1
propErTy	DaTE	LocaTioN	(iNcL. gST)	LoTS	rELEaSED	EXcHaNgED	SETTLED	From	To
WaTErFroNT mWrDp	Jun 083	Newstead	$350m	99	99	51	0	Mar 11	Aug12
TENNySoN rEacH	Aug05	Tennyson	$296m	207	207	135	102
Softstone and Lushington			$189m	115	115	102	102	May09	May10
Farringford			$107m	92	92	33	0	Mar 10	Oct 11
brooKWaTEr	May06	Springfeld	$12m	23	23	12	10	Jul 09	Jun 10
mariNEr’S pENiNSuLa	Jun 06	Townsville	$10m	4	4	2	2	Jun 09	Sep10
mariNEr’S pENiNSuLa
mWrDp	Jun 073	Townsville	$88m	101	101	97	91	Jul 09	Aug10
HopE iSLaND	Jan 07	Hope island	$31m	67	67	67	67	Jan 07	Dec 09
HopE iSLaND
mWrDp	Jun 073	Hope island	$30m	59	59	51	51
Magnolia New			$3m	6	6	5	5	Jan 08	Feb 10
7th Fairway			$14m	37	37	31	31	Jan 08	Jun 10
The Links			$13m	16	16	15	15	Jun 08	Mar 10

1 SETTLEMENT DATES MAY VARY AS ciRcUMSTANcES cHANGE.

2 cONSTRUcTiON PROGRESS AS A PERcENTAGE OF cOST, WHicH iNcLUDES LAND SUBDiViSiON BUT NOT LAND AcQUiSiTiON. 3 TRANSAcTiON DATE.

				83 d
currENT pricE raNgE	proJEcT pErioD coNSTrucTioN
From/To	(caLENDar yEar)	progrESS2	DEScripTioN	oWNErSHip STrucTurE
				100% MWRDP (Mirvac
$2.0m – $14.2m	mid 2008 – mid 2012	35%	Apartments	Limited 20% Equityinterest)
			Apartments	100% Mirvac Limited
$942,000 – $4.9m	mid 2007 – mid 2010	100%
$695,000 – $5.2m	end 2007 – end 2011	90%
$399,000 – $725,00	end 2007 – mid 2010	100%	Townhouses	100% Mirvac Limited
$2.5m – $2.6m	mid 2006 – mid 2010	100%	Houses	100% Mirvac Limited
				100% MWRDP (Mirvac
$607,000 – $2.5m	mid 2007 – end 2010	100%	Apartments	Limited 20% Equityinterest)
$570,000 – $8.6m	early2007 – mid 2009	100%	Houses,townhouses and vacant land	100% Mirvac Limited
				100% MWRDP (Mirvac
			Townhouses and vacant land	Limited 20% Equityinterest)
$400,000 – $530,000	mid 2007 – early2010	100%
$315,000 – $535,000	mid 2007 – mid 2010	100%
$730,000 – $895,000	mid 2007 – mid 2010	100%

84 mirvac group PROPERTY COMPENDIUM

residential develoPment / ProPosed

QUEENSLAND

			proJEcT
	acquiSiTioN		vaLuE	ToTaL	proJEcT pErioD
propErTy	DaTE	LocaTioN	(iNcL. gST)	LoTS	(caLENDar yEar)	DEScripTioN	oWNErSHip STrucTurE
THE SaNcTuary
oN moggiLL	Sep04	Moggill	$34m	130	mid 2009 – end 2013	Land	100% Mirvac Limited
WaTErFroNT	Apr 08	Newstead	$853m	625	end 2011 – end 2019	Apartments	100% Mirvac Limited
TENNySoN rEacH
DEvELopmENT	Aug05	Tennyson	$290m	185	mid 2012 – early2016	Apartments	100% Mirvac Limited
brooKWaTEr	May06	Springfeld	$93m	168	mid 2010 – mid 2017	Townhouses	100% Mirvac Limited
mariNEr’S pENiNSuLa	Jun 06	Townsville	$98m	85	mid 2010 – end 2013	Apartments/houses	100% Mirvac Limited
gaiNSborougH						Houses, town
grEENS	Oct 06	Pimpama	$820m	2,292	mid 2010 – end 2021	houses and land	100% Mirvac Limited
HopE iSLaND	Jan 07	Hope island	$58m	61	end 2009 – end 2012	Land	100% Mirvac Limited

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

ePHraim island, Paradise Point, Qld
----- End of picture text -----

86 mirvac group PROPERTY COMPENDIUM

residential develoPment

VICTORIA

==> picture [316 x 431] intentionally omitted <==

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

4
3 MELBOURNE CBD
5
6
8
7
9
2
1
----- End of picture text -----

LORNE CHALET
THE COAST @ SANDS, TORQUAY
ROCKBANK
BRIDGE INN ROAD, DOREEN
YARRA’S EDGE
LAUREATE, ALBERT PARK
WAVERLEY PARK, MULGRAVE 8. STUD ROAD, WANTIMA SOUTH 9. WATERWAYS, BRAESIDE

yarra’s edge, doCklands, viC

==> picture [101 x 101] intentionally omitted <==

MIRVAC SHARE
FORECAST REVENUE
$2.2 BILLION
■HOUSES / LAND	53.7%
■APARTMENTS	46.3%

==> picture [101 x 101] intentionally omitted <==

LOTS UNDER	CONTROL
8,568
■HOUSES / LAND	89.1%
■APARTMENTS	10.9%

88 mirvac group PROPERTY COMPENDIUM

residential develoPment / in Progress

VICTORIA

			proJEcT
	acquiSiTioN		vaLuE	ToTaL				SETTLEmENT DaTE1
propErTy	DaTE	LocaTioN	(iNcL. gST)	LoTS	rELEaSED	EXcHaNgED	SETTLED	From	To
WavErLEy parK	Dec 013	Mulgrave	$551m	1,055	785	763	686
completed Stages			$201m	468	468	468	468	Nov 03	Jul 08
Stage 5			$80m	118	102	87	16	Oct 09	Mar 11
Stage 6			$34m	52	6	1	0	Mar 11	Sep13
Stage 7			$59m	116	54	54	54	Mar 08	Apr 13
Stage 10			$57m	104	0	0	0	Jun 11	Jun 12
Stage 11			$93m	155	155	153	148	Sep06	Apr 10
Stage 12			$27m	42	0	0	0	May12	Oct 12
LorNE cHaLET	Mar 03	Lorne	$34m	42	42	42	42	Oct 06	Sep09
yarra’S EDgE	Mar 04	Docklands	$224m	231	195	136	89
Marina			$21m	149	149	92	89	Jan 05	Mar 15
River Precinct Lowrise			$203m	82	46	44	0	Mar 10	Nov 12
THE coaST @ THE SaNDS	N/A	Torquay	$44m	126	126	123	123	Mar 05	Jun 10
briDgE iNN roaD	Feb 07	Doreen	$35m	3	3	3	3	Jul 08	Dec 09
WaTErWayS argyLE
mWrDp	Apr 063	Braeside	$77m	145	97	79	51	Oct 08	Sep11
‘LaurEaTE’
prEviouSLy KNoWN
aS picKLES STrEET	Jul 07	Albert Park	$92m	46	32	15	0	Mar 11	Sep11

1 SETTLEMENT DATES MAY VARY AS ciRcUMSTANcES cHANGE.

2 cONSTRUcTiON PROGRESS AS A PERcENTAGE OF cOST, WHicH iNcLUDES LAND SUBDiViSiON BUT NOT LAND AcQUiSiTiON. 3 TRANSAcTiON DATE.

				89 d
currENT pricE raNgE	proJEcT pErioD coNSTrucTioN
From/To	(caLENDar yEar)	progrESS2	DEScripTioN	oWNErSHip STrucTurE
			Houses	100% Mirvac Limited
$245,000 – $625,000	mid 2002 – mid 2008	100%
$475,000 – $875,000	mid 2008 – early2011	50%
$495,000 – $675,000	mid 2010 – end 2013	0%
$370,000 – $775,000	end 2007 – mid 2012	40%
$495,000 – $825,000	end 2010 – mid 2012	0%
$385,000 – $945,000	end 2005 – mid 2010	100%
$495,000 – $675,000	mid 2011 – end 2012	0%
$400,000 – $1.5m	end 2004 – end 2009	100%	Apartments	100% Mirvac Limited
				100% Mirvac Limited
$120,000 – $210,000	mid 2004 – end 2005	100%	Marina berths
$900,000 – $5.3m	early2007 – end 2012	35%	Luxuryhouses includingmarina berths
				PDA with Goldenwood
$399,000 – $599,000	mid 2004 – mid 2010	100%	Golf course estate	PtyLimited/Handbury
$34.5m	early2007 – end 2009	100%	Land subdivision – site sold	100% Mirvac Limited
				100% MWRDP (Mirvac
$440,000 – $685,000	mid 2007 – end 2011	50%	Houses	Limited 20% equityinterest)
$1.4m – $3.0m	end 2009 – end 2011	10%	Luxuryhousing	100% Mirvac Limited

90 mirvac group PROPERTY COMPENDIUM

residential develoPment / ProPosed

VICTORIA

			proJEcT
	acquiSiTioN		vaLuE	ToTaL	proJEcT pErioD
propErTy	DaTE	LocaTioN	(iNcL. gST)	LoTS	(caLENDar yEar)	DEScripTioN	oWNErSHip STrucTurE
WavErLEy parK	Dec 01	Mulgrave	$143m	232	mid 2011 – end 2016	integrated housing	100% Mirvac Limited
yarra’S EDgE	Dec 09	Docklands	$1.0bn	962	mid 2009 – mid 2019	Apartments	100% Mirvac Limited
							50% Mirvac Limited
rocKbaNK	Nov 06	Rockbank	$1.1bn	5,780	early2012 – mid 2032	Land subdivision	50% Jayaland corporation
STuD roaD auSTraL							100% MWRDP (Mirvac
bricKS mWrDp	Feb 082	Scoresby	$768m	969	end 2009 – mid 2021	Houses	Limited 20% equityinterest)

1 OPTiON TO PURcHASE. 2 TRANSAcTiON DATE.

Waverley Park, mulgrave, viC

92 mirvac group PROPERTY COMPENDIUM

residential develoPment

WESTERN AUSTRALIA

==> picture [437 x 221] intentionally omitted <==

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

1. MINDARIE KEYS, MINDARIE
2. JANE BROOK
3. DIANELLA
4. SWANBOURNE
5. THE PENINSULA, BURSWOOD 1
6. BEACHSIDE LEIGHTON
7. KENNEDY BAY, PORT KENNEDY
8. MANDURAH
9. PRESTON BEACH
10. BINNINGUP
11. ALEXANDRA VILLAGE, KENSINGTON
2
3
4 5
6 PERTH CBD
----- End of picture text -----

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

11
7
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----- Start of picture text -----

8
----- End of picture text -----

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

9
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----- Start of picture text -----

d
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tHe Point, manduraH, Wa
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==> picture [101 x 100] intentionally omitted <==

MIRVAC SHARE
FORECAST REVENUE
$1.5 BILLION
■HOUSES / LAND	43.3%
■APARTMENTS	56.7%

==> picture [101 x 100] intentionally omitted <==

LOTS UNDER	CONTROL
7,082
■HOUSES / LAND	88.9%
■APARTMENTS	11.1%

94 mirvac group PROPERTY COMPENDIUM

residential develoPment / in Progress

WESTERN AUSTRALIA

			proJEcT
	acquiSiTioN		vaLuE	ToTaL				SETTLEmENT DaTE1
propErTy	DaTE	LocaTioN	(iNcL. gST)	LoTS	rELEaSED	EXcHaNgED	SETTLED	From	To
miNDariE KEyS	Jan 96	Mindarie	$299m	1,541	1,541	1,528	1,528
completed Stages			$257m	1,496	1,496	1,496	1,496	Jun 03	Dec 08
Stage 5B(i)			$16m	23	23	21	21	Jun 07	Jun 10
Stage 5B(ii)			$26m	22	22	11	11	Jun 08	Feb 11
THE pENiNSuLa
auSTraLiaNSupEr
maNDaTE	Feb 03	Burswood	$491m	396	388	344	249
completed Stages			$208m	161	161	161	161	May07	Dec 09
Allegro – Tower 1			$2m	2	1	1	1	Apr 09	Aug11
Axis – Tower 2			$27m	29	28	28	28	Apr 09	Mar 11
Aurora – Tower 4			$160m	133	133	101	53	Feb 10	Dec 10
Aquarius – Tower 5			$85m	64	58	46	0	Jun 10	Dec 10
Lot 18			$9m	7	7	7	6	Jul 09	Mar 10
maNDuraH
SyNDicaTES mWrDp		Mandurah	$481m	1,068	134	75	75
Bridgewater MWRDP	Jun 073		$82m	317	37	10	10	Jun 08	Jul 14
Meadow Springs
MWRDP Syndicate	Jun 073		$105m	478	78	62	62	Mar 09	Jun 14
Seascapes Town centre
MWRDP Syndicate	Jun 083		$294m	273	19	3	3	Mar 09	Mar 14
maNDuraH SyNDicaTES
mirvac FuNDS maNagEmENT		Mandurah	$267m	1,161	725	632	625
Mirvac Development
Fund – Seascapes	Dec 05		$135m	530	356	307	302	Jun 06	Jun 13
Mirvac Development
Fund – Meadow Springs	Jun 06		$132m	631	369	325	323	Dec 06	Sep13
mEaDoW SpriNgS
HouSiNg	Aug03	Mandurah	$94.5m	183	177	157	143
completed Stages			$16m	40	40	40	40	Mar 07	Mar 09
Bellavista			$22m	42	42	42	42	May07	Sep09
Portrush Green			$32m	70	64	60	46	May08	Nov 10
R60 Site(Land)			$7m	29	29	14	14	Jun 08	Jun 10
Northern Golf course island			$17m	1	1	1	1	Jun 08	Jun 09
Eden Springs(Built Form — Lot	575)		$500,000	1	1	0	0	May06	Oct 10
THE poiNT	Dec 05	Mandurah	$209m	153	145	97	85
BuildingA			$54m	28	20	6	4	Jun 09	Dec 11
BuildingB			$93m	78	78	59	51	Dec 08	Dec 10
Buildingc			$62m	47	47	32	30	Dec 08	Jan 11

1 SETTLEMENT DATES MAY VARY AS ciRcUMSTANcES cHANGE.
2 cONSTRUcTiON PROGRESS AS A PERcENTAGE OF cOST, WHicH iNcLUDES LAND SUBDiViSiON BUT NOT LAND AcQUiSiTiON. 3 TRANSAcTiON DATE.

				95 d
currENT pricE raNgE	proJEcT pErioD coNSTrucTioN
From/To	(caLENDar yEar)	progrESS 2	DEScripTioN	oWNErSHip STrucTurE
			Land subdivision	15% Joint Venture Various
$185,000 – $12.7m	early1996 – end 2008	100%
$450,000 – $880,000	end 2006 – mid 2010	100%
$1.0m – $1.8m	mid 2006 – early2011	98%
				50% Mirvac Limited
				50% AustralianSuper Fund
$530,000 – $13.0m	early2003 – mid 2009	100%	Apartments
$450,000 – $750,000	early2003 – mid 2011	100%	Apartments
$450,000 – $2.3m	early2003 – mid 2011	100%	Apartments
$620,000 – $4.9m	mid 2006 – end 2010	97%	Apartments
$750,000 – $3.9m	early2007 – end 2010	75%	Apartments
$1.2m – $1.3m	early2008 – mid 2010	100%	Luxuryhouses
				100% MWRDP (Mirvac
				Limited 20% Equityinterest)
$180,000 – $310,000	mid 2007 – mid 2014	30%	Land
$150,000 – $245,000	mid 2007 – mid 2014	25%	Land
$450,000 – $3.0m	mid 2008 – mid 2014	15%	Mix of residential and retail lots

				100% Mirvac Development
$120,000 – $4.0m	mid 2006 – mid 2013	70%	Land	Fund – Seascapes
				100% Mirvac Development
$150,000 – $310,000	mid 2006 – end 2013	60%	Land	Fund – Meadow Springs
				100% Mirvac Limited
$195,000 – $580,000	mid 2003 – early2009	100%	Architecturallydesigned homes
$400,000 – $610,000	mid 2008 – mid 2010	100%	construction contract
$350,000 – $645,000	mid 2003 – early2010	99%	Houses
$145,000 – $240,000	mid 2006 – mid 2010	98%	Land
$17.2m	mid 2008 – mid 2009	100%	Land subdivision
$450,000 – $500,000	mid 2006 – mid 2010	45%	Land and house lot
				100% Mirvac Limited
$638,000 – $3.0m	end 2005 – end 2011	100%	Hotel and apartments
$570,000 – $3.6m	end 2005 – end 2010	100%	Apartments
$590,000 – $3.7m	end 2005 – end 2011	100%	Apartments

96 mirvac group PROPERTY COMPENDIUM

residential develoPment / in Progress

WESTERN AUSTRALIA

			proJEcT
	acquiSiTioN		vaLuE	ToTaL				SETTLEmENT DaTE1
propErTy	DaTE	LocaTioN	(iNcL. gST)	LoTS	rELEaSED	EXcHaNgED	SETTLED	From	To
SWaNbourNE	Jun 05	Swanbourne	$61m	58	51	51	51
completed Stages			$49m	51	51	51	51	Nov 07	Jun 09
Stage 2			$12m	7	0	0	0	Jun 10	Dec 10
biNNiNgup	Jan 08	Binningup	$11m	46	28	2	2
Stage 5 – Lakewood Shores			$5m	22	18	2	2	May09	Aug11
Stage 6 – Lakewood Shores			$6m	24	10	0	0	Jan 10	Aug11
bEacHSiDE
LEigHToN	Aug06	Leighton	$219m	68	60	60	0	Oct 10	Jul 11
aLEXaNDra viLLagE	Nov 07	Kensington	$7m	15	15	5	3	Sep09	May13
KENNEDy bay	Oct 06	Port Kennedy	$269m	359	0	0	0	Dec 10	May18

1 SETTLEMENT DATES MAY VARY AS ciRcUMSTANcES cHANGE.

2 cONSTRUcTiON PROGRESS AS A PERcENTAGE OF cOST, WHicH iNcLUDES LAND SUBDiViSiON BUT NOT LAND AcQUiSiTiON.

				97 d
currENT pricE raNgE	proJEcT pErioD coNSTrucTioN
From/To	(caLENDar yEar)	progrESS 2	DEScripTioN	oWNErSHip STrucTurE
				50% Mirvac Limited
			Land subdivision,houses and apartments	50% Landcorp
$840,000 – $1.9m	mid 2005 – mid 2009	100%
$1.6 – $1.9m	end 2008 – end 2010	60%
				PDA with Binningup
			Land lots	Nominees
$170,000 – $245,000	mid 2009 – end 2011	100%
$200,000 – $250,000	mid 2009 – end 2011	100%
$1.4m – $9.0m	mid 2006 – early2011	50%	Residential lots	100% Mirvac Limited
$400,000 – $500,000	early2008 – mid 2013	100%	Retirement village	construction contract
$240,000 – $2.0m	end 2006 – mid 2018	5%	Land subdivision,houses and apartments	PDA with WABGR

98 mirvac group PROPERTY COMPENDIUM

residential develoPment / ProPosed

WESTERN AUSTRALIA

			proJEcT
	acquiSiTioN		vaLuE	ToTaL	proJEcT pErioD
propErTy	DaTE	LocaTioN	(iNcL. gST)	LoTS	(caLENDar yEar)	DEScripTioN	oWNErSHip STrucTurE
						Houses and
briDgEWaTEr NorTH	Aug03	Mandurah	$451m	392	end 2003 – early2019	apartments	100% Mirvac Limited
prESToN bEacH	May06	Preston Beach	$361m	1,900	mid 2006 – end 2030	Land	PDA with MAP Nominees
JaNE brooK	Jul 06	Jane Brook	$70m	217	mid 2006 – end 2013	Land	100% Mirvac Limited
						Houses and
bEacHSiDE LEigHToN	Aug06	Leighton	$224m	74	early2007 – end 2013	apartments	100% Mirvac Limited
DiaNELLa	Dec 06	Dianella	$40m	81	end 2006 – end 2012	Land	100% Mirvac Limited
							PDA with
biNNiNgup	Jan 08	Binningup	$598m	1,795	mid 2008 – end 2031	Land	BinningyupNominees
						Houses and
SWaNbourNE	Jun 05	Swanbourne	$148m	67	end 2008 – early2014	apartments	JV Landcorp
THE pENiNSuLa,
auSTraLiaNSupEr
maNDaTE	Feb 03	Burswood	$398m	269	early2006 – end 2014	Highrise apartments	JV ASF

CommerCial develoPment

MPT PORTFOLIO

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nexus industry Park, Prestons, nsW
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nexus industry Park lyn Parade, Prestons, nsW ProPosed

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netWork at eastern Creek old Wallgrove road, eastern Creek, nsW ProPosed

DEScripTioN

Former Liverpool Showground site rezoned for general 4(a) industrial. Mirvac has completed four industrial facilities with the final building awaiting pre-commitment.

oWNErSHip

100% MPT

DEScripTioN

Strategically located 6 hectare industrial site in close proximity to the new M7 Westlink.

The site will accommodate approximately 30,000 sqm of high quality industrial development.

oWNErSHip

100% MPT

proJEcT upDaTE

DA approved November 2008.

proJEcT upDaTE

DA lodged for early works.

100 mirvac group PROPERTY COMPENDIUM

CommerCial develoPment

MPT PORTFOLIO

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10 – 20 Bond street, sydney, nsW in Progress

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8-12 CHifley sQuare, sydney, nsW

ProPosed

DEScripTioN

The building is a 30 level A Grade office tower currently undergoing a $60 million transformation. Works include a new lobby with an improved street presence, tri-generation plant and chilled beam air conditioning. The upgrade is designed to achieve a 5 star NABERS Energy rating.

DEScripTioN

A premium development site bounded by Elizabeth, Phillip and Hunter Streets, and surrounded by Sydney most prestigious Premium grade towers. The site has approval for a next generation office tower of approximately 20,000 square metres.

oWNErSHip

50% MPT, 50% iNG

oWNErSHip

100% MPT

VALUATiON AT 31 DEc 09	$85m
VALUER	SAViLLS
LAST EXTERNAL VALUATiON	31 Dec 09
cOST TO cOMPLETE	$30m1
YiELD ON cOST	7.5%
AcQUiSiTiON DATE	Dec 09
FOREcAST cOMPLETiON	Feb 11

VALUATiON AT 31 DEc 09	$30m
VALUER	DiREcTORS VALUATiON
LAST EXTERNAL VALUATiON	31 Dec 08
cOST TO cOMPLETE	$185m
YiELD ON cOST	8.0%
AcQUiSiTiON DATE	APR 06(50%)OcT 09(50%)
FOREcAST cOMPLETiON	Sep14

proJEcT upDaTE

On-site works commenced

proJEcT upDaTE

The stage 2 DA was approved by council in late 2008. The DA scheme is under review.

1 REPRESENTS 50% SHARE.

101

MIRVAC LIMITED PORTFOLIO

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sydney Water, surry Hills, nsW ComPleted

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BankstoWn airPort, Corner milPerra road and Henry laWson drive, BankstoWn, nsW ProPosed

DEScripTioN

Mixed use development located in Sydney cBD fringe. comprises of approximately 2,500 sqm of office space and 2,200 sqm retail.

oWNErSHip

100% MiRVAc LiMiTED

DEScripTioN

Development and sale of 104ha (gross) of land surplus to the aeronautical requirements of the Airport. Figures assume land subdivision and sell only.

oWNErSHip

cONSORTiUM: 33.3% MiRVAc LiMiTED, 33.3% LEiGHTON PROPERTiES, 33.3% WESTScHEME.

proJEcT upDaTE

Approximately 85% of the development has been leased.

proJEcT upDaTE

Site servicing and lot construction to suit market demand.

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Hoxton Park airPort, interseCtion of m7 and CoWPasture road, Hoxton Park, nsW[ 1] ProPosed

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seCtion 63, CiviC, CanBerra, aCt ProPosed

DEScripTioN

Development of 82ha (gross) made available by the closure of the Airport in Oct 2008.

oWNErSHip

cONSORTiUM: 50% MiRVAc LiMiTED, 50% LEiGHTON PROPERTiES

proJEcT upDaTE

Development planning and servicing, infrastructure design works progressing.

1 AS AT 31 DEcEMBER 2009 MiRVAc LiMiTED HAD cONDiTiONALLY EXcHANGED WiTH THE cONSORTiUM TO AcQUiRE THE iNDUSTRiAL cOMPONENT OF THE SiTE. POST 31 DEcEMBER 2009, MiRVAc ENTERED iNTO AN AGREEMENT WiTH WOOLWORTHS LiMiTED TO DEVELOPMENT TWO DiSTRiBUTiON cENTRES, SUBJEcT TO STATE PLANNiNG APPROVAL.

DEScripTioN

Mixed use development within canberra city centre. The new buildings will total 128,000 sqm space.

oWNErSHip

50% MiRVAc LiMiTED, 50% LEiGHTON PROPERTiES

proJEcT upDaTE

Staged commercial office development in canberra cBD comprising 4 x buildings. Masterplan and development consents obtained. construction commencement subject to tenant pre lease.

102 mirvac group PROPERTY COMPENDIUM

CommerCial develoPment

MIRVAC LIMITED PORTFOLIO

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soutH Pine road, Brendale, Qld ProPosed

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664 Collins street, melBourne, viC ProPosed

DEScripTioN

Located in the established industrial locale of Brendale in the northern suburbs of Brisbane, this 29,500 sqm quality institutional grade business park will comprise of seven industrial business units.

DEScripTioN

An A grade commercial building located in a prime cBD location adjacent to the Southern cross Railway Station. The building to be developed in Joint Venture with AustralianSuper will have a 6 star energy rating and will comprise 47,000 sqm of net lettable area over 11 levels.

oWNErSHip

100% MiRVAc LiMiTED

oWNErSHip

50% MiRVAc LiMiTED, 50% AUSTRALiANSUPER

proJEcT upDaTE

Stage 1 earthworks and servicing completed.

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600 lorimer street, Port melBourne, viC ProPosed

DEScripTioN

Former General Motors Holden land totalling 4.4ha zoned for business/light industrial use.

oWNErSHip

100% MiRVAc LiMiTED

103

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Boundary road, maCkay, Qld in Progress

DEScripTioN

This prime industrial site is located south of the city of Mackay. The development will be a multi stage industrial project comprising a combination of land subdivision and built form.

oWNErSHip

100% MiRVAc LiMiTED

proJEcT upDaTE

Approvals received, operational works currently being finalised with council.

HEAD OFFICE / Level 26, 60 Margaret Street Sydney NSW 2000 SYDNEY / 02 9080 8000 MELBOURNE / 03 9645 9400 BRISBANE / 07 3859 5888 PERTH / 08 9424 9900

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www.mirvac.com

DISCLAIMER

The information made available through this property compendium, including any expression of opinion or forecast, has been obtained from or based on sources believed by Mirvac Group to be reliable. Mirvac Group does not warrant the accuracy, completeness or currency of the information. Mirvac Group and its related companies will not be liable for any inaccuracies, omissions or errors in the content nor for any loss or damage arising from action taken in reliance on the information.

AI assistant

MIRVAC GROUP — Investor Presentation 2010

65328_rns_2010-02-15_f983c130-e981-44df-809e-6fd5031905d4.pdf

PC

investment

101 miller street, nortH sydney, nsW

MIRVAC PROPERTY TRUST PORTFOLIO REPOSITIONING

6 MONTHS TO DeceMber 2009

MIRVAC PROPERTY TRUST PORTFOLIO EXPIRY PROFILE[ 1]

MIRVAC PROPERTY TRUST PORTFOLIO DIVERSIFICATION

CommerCial Portfolio

INVESTMENT

GRADE

DIVERSIFICATION[1]

GEOGRAPHIC DIVERSIFICATION[1]

CommerCial Portfolio

INVESTMENT

DEScripTioN

Summary iNFormaTioN

DEScripTioN

Summary iNFormaTioN

DEScripTioN

DEScripTioN

Summary iNFormaTioN

Summary iNFormaTioN

CommerCial Portfolio

INVESTMENT

DEScripTioN

DEScripTioN

Summary iNFormaTioN

Summary iNFormaTioN

DEScripTioN

DEScripTioN

Summary iNFormaTioN

Summary iNFormaTioN

CommerCial Portfolio

INVESTMENT

3 rider Boulevard, rHodes, nsW

5 rider Boulevard, rHodes, nsW

DEScripTioN

DEScripTioN

Summary iNFormaTioN

Summary iNFormaTioN

DEScripTioN

DEScripTioN

Summary iNFormaTioN

Summary iNFormaTioN

CommerCial Portfolio

INVESTMENT

54 marCus Clarke street, CanBerra, aCt

38 sydney avenue, forrest, aCt

DEScripTioN

DEScripTioN

Summary iNFormaTioN

Summary iNFormaTioN

DEScripTioN

DEScripTioN

Summary iNFormaTioN

Summary iNFormaTioN

CommerCial Portfolio

INVESTMENT

DEScripTioN

DEScripTioN

Summary iNFormaTioN

Summary iNFormaTioN

royal domain Centre 380 st kilda road, melBourne, viC

DEScripTioN

DEScripTioN

Summary iNFormaTioN

Summary iNFormaTioN

CommerCial Portfolio

INVESTMENT

DEScripTioN

DEScripTioN

Summary iNFormaTioN

Summary iNFormaTioN

DEScripTioN

Summary iNFormaTioN

LEaSE EXpiry proFiLE % arEa

industrial Portfolio

MIRVAC GROUP Investor Presentation 2010