MIRVAC GROUP — Investor Presentation 2011

May 16, 2011

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NSW RESidENtial iNvEStoR touR

17 May 2011

nsw residential investor tour 17 May 2011

itinerary

8:45am	Registration
9:00am	March 2011 operational update
	Nicholas Collishaw, Managing director
9:40am	Mirvac’s development Strategy
	Brett draffen, CEo development australia
10:40am	Residential Market update
	david Rees, Head of Research and Consulting Jll
	Property tour Begins
11:10am	tour of 71 Macquarie Street
	david Perram, development director acquisitions
11:45am	depart 71 Macquarie Street to Era, Chatswood
12:15pm	tour of Era, Chatswood
	Paolo Razza, Senior development Manager
12:45pm	depart Era Chatswood to Harold Park
1:15pm	lunch Presentation+tour
	Stuart Penklis, development director
2:15pm	depart Harold Park to Green Square town Centre
2:45pm	tour of Green Square town Centre
	david Perram, development director acquisitions
2:55pm	depart Green Square town Centre to Jamison Street
3:25pm	Property tour ends (Jamison street CBd)

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NSW Tour Destinations
Mirvac Residential Properties
10.4
KM TO CBD
PACIFIC PLACE
CHATSWOOD
RHODES WATERSIDE
RHODES
844 LOTS
North
Sydney
Sydney
Harbour Bridge
1.4
KM TO CBD
Circular Quay
QUAY GRAND HOTEL
Darling Botanical Gardens
Anzac Harbour
Bridge 71 MACQUARIE STREET
Hyde Park 1.3
2.5 KM TO CBD
KM TO CBD SYDNEY
CBD
HAROLD PARK
GLEBE
Central
4.5
KM TO CBD Centennial
Park
Moore
GREEN SQUARE Park
TOWN CENTRE
ALEXANDRIA
ENDEAVOUR 88
SOUTH COOGEE
141 LOTS
Airport
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71 Macquarie street, sydney, nsw

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71 Macquarie street
quay grand hotel [ 1]
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summarY inFormation – 31 marCh 2011

in Progress
location	SydNEy
total lots	aPPRox 100
construction period
(calendar years)	2014 – 2016
description	MixEd uSE dEvEloPMENt

desCriPtion

approval is being sought for the demolition of the existing commercial building and the construction of a mixed use building comprising ground floor retail, serviced apartments and high-end residential apartments with basement parking and improved public domain.

Since Coca-Cola amatil vacated the building in 2010, it has been released to a number of tenants on short-term leases.

a two-staged development approval is being sought from department of Planning comprising a Concept Plan approval (securing building footprint and height) followed by a detailed Project Plan approval (securing product mix and detailed design).

uPdate

71 Macquarie Street declared a Part 3a Project in February 2011 with director General Requirements issued in March 2011.

Concept Plan application progressing on program and is to be lodged with department of Planning in second half 2011.

1 HotEl MaNaGEd By MiRvaC aNd StRata, Food aNd BEvERaGE FaCilitiES oWNEd By MiRvaC.

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era pacific place, chatswood, nsw

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artist’s impression
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summarY inFormation – 31 marCh 2011

ProPosed
acquisition date	dECEMBER 2000
location	CHatSWood
project Value (incl gst)	$308m
total lots	295 RESidENtial lotS
	+ CoMMERCial aNd REtail
construction period
(calendar years)	3 yEaRS
description	MixEd uSE dEvEloPMENt
ownership structure	100% MiRvaC

desCriPtion

ERa is the final development site within Mirvac’s well established Pacific Place mixed-use development in Chatswood. this site was zoned for a commercial building since early last decade when Mirvac acquired the land. in response to high residential demand, Mirvac successfully rezoned the site to permit a 42 storey building containing: 295 apartments, 4,900 sqm of office space, a heated pool, sauna, gym, seven basement car park levels and extensive landscaped public and private open space.

uPdate

94 per cent[ 1] of ERa was sold out, achieving an average price of just under $1 million per apartment and generating $273.5 million in exchanged contracts. Construction is due to commence in July 2011.

1 aS at 11 May, 48 PER CENt oF tHE total ExCHaNGEd CoNtRaCtS WERE SuBJECt to a CooliNG oFF PERiod.

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harold park, glebe, nsw

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summarY inFormation – 31 marCh 2011

ProPosed
acquisition date	aNtiCiPatEd July 2011
location	GlEBE
project Value (incl. gst)	$1.1bn
total lots	aPPRox 1,250
project period (calendar year)EaRly 2012 – Mid 2019
description	RESidENtial
ownership structure	100% MiRvaC

desCriPtion

the site is located in the inner western suburbs approximately 2.5 kilometres from the Sydney CBd and is surrounded by the suburbs of Glebe, annandale and Forest lodge. the location is one of the sites key attributes as it has close proximity to:

• the light rail system (Jubilee Station is connected to the site)

• Major bus routes direct to the city that pass the site

• Sydney Harbour

• two of Sydney’s largest universities – the university of Sydney and the university of technology

uPdate

Mirvac’s proposed scheme incorporates approximately 1,250 medium density dwellings, adaptive reuse of existing tram shed, basement car parks and will include the dedication of 3.8 hectares of public open space.

development of the site is scheduled to commence in early 2012, with settlements forecast from financial year 2014.

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green square town centre, green square, nsw

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summarY inFormation – 31 marCh 2011

ProPosed
acquisition date	aNtiCiPatEd 2011
location	GREEN SquaRE
project Value (incl. gst)	aPPRox $1.4bn
total lots (indicatiVe)	1,500 RESidENtial dWElliNGS
	15,000 SqM REtail
	60,000 SqM CoMMERCial
CiviC Plaza	aNd PuBliC doMaiN PRECiNCtS
project period	2012 – 2023
description	MixEd uSE dEvEloPMENt
ownership structure	Pda WitH lEiGHtoN
	PRoPERtiES aNd laNdCoM

desCriPtion

Green Square town Centre is identified as one of australia’s largest urban renewal projects. the opportunity is to deliver a mixed use multi-generational project over 10 years that will revitalise the southern Sydney corridor.

uPdate

the consortium lodged a planning proposal with the City of Sydney in May 2010 to amend existing planning controls to facilitate the development concept. Subject to receiving Planning approval, on site works are expected to commence in 2012.

KeY dates

KeY dates
lEP GazEttal	SECoNd HalF 2011
ESSENtial iNFRaStRuCtuRE WoRkS	FEBRuaRy 2012
StaGE 1 CoMMENCEMENt	JuNE 2012

REd: GREEN SquaRE total dEvEloPMENt aREa. yElloW: GREEN SquaRE toWN CENtRE CoNSoRtiuM dEvEloPMENt aREa.

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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

imPortant notiCe

Mirvac Group comprises Mirvac limited aBN 92 003 280 699 and Mirvac Property trust aRSN 086 780 645. this tour Book has been prepared by Mirvac limited and Mirvac Funds limited (aBN 70 002 561 640, aFSl number 233121) as the responsible entity of Mirvac Property trust (collectively “Mirvac” or “Mirvac Group”). Mirvac limited is the issuer of Mirvac limited ordinary shares and Mirvac Funds limited is the issuer of Mirvac Property trust ordinary units, which are stapled together as Mirvac Group stapled securities. all dollar values are in australian dollars (a$).

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

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

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

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

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

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

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

this tour Book is not an offer or an invitation to acquire Mirvac Group stapled securities or any other financial products and is not a prospectus, product disclosure statement or other offering document under australian law or any other law. it is for information purposes only.