MIRVAC GROUP — Management Reports 2013

Feb 13, 2013

PROPERTY COMPENDIUM 31 DECEMBER 2012

Welcome to the Mirvac Property Compendium

by mirvac

Artist Impression of 200 George Street, Sydney, NSW

PROPERTY COMPENDIUM 31 DECEMBER 2012

Investment

by mirvac

$6,013,669,236

ACROSS 61 inveStment gRAde ASSetS in diReCt ReAl eStAte inveStmentS

==> picture [182 x 13] intentionally omitted <==

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

Artist Impression of Treasury Building, Perth, WA
----- End of picture text -----

Mirvac’s Investment Division manages a diverse portfolio of assets across the office, retail and industrial sectors, leased to quality tenants including leading Australian and international companies.

Mirvac’s integrated business approach includes using the specialised in-house asset management team, Mirvac Asset Management, that is responsible for all leasing and property management across the entire portfolio.

PROPERTY COMPENDIUM 31 DECEMBER 2012

Mirvac Property Trust

Overview

Mirvac PrOPerTy TrusT POrTfOliO eXPiry PrOfile[1]

==> picture [364 x 160] intentionally omitted <==

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

TOTal POrTfOliO reTail POrTfOliO
1,347,863 sqm 390,646 sqm
WALE 5.5 YEARS WALE 4.1 YEARS
60% 60%
50% 50%
40% 40%
30% 30%
20% 20%
10% 10%
0% 0%
VACANT FY13 FY14 FY15 FY16 FY17 BEYOND VACANT FY13 FY14 FY15 FY16 FY17 BEYOND
----- End of picture text -----

Office POrTfOliO

==> picture [91 x 6] intentionally omitted <==

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

inDusTrial POrTfOliO
----- End of picture text -----

==> picture [358 x 155] intentionally omitted <==

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

609,846 sqm 346,972 sqm
WALE 5.7 YEARS WALE 9.2 YEARS
70% 70%
60% 60%
50% 50%
40% 40%
30% 30%
20% 20%
10% 10%
0% 0%
VACANT FY13 FY14 FY15 FY16 FY17 BEYOND VACANT FY13 FY14 FY15 FY16 FY17 BEYOND
----- End of picture text -----

Mirvac PrOPerTy TrusT POrTfOliO DiversificaTiOn

==> picture [364 x 109] intentionally omitted <==

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

secTOr DiversificaTiOn [2] GeOGraPhic DiversificaTiOn [2]
OFFICE 58.9% NSW 63.5%
INDUSTRIAL 7.5% VIC 14.7%
RETAIL 28.1% QLD 13.2%
OTHER [3] 1.7% ACT 8.1%
LPT/UNLISTED 3.8%
US 0.5%
FUNDS
----- End of picture text -----

1. BY INCOME, EXCLUDING ASSETS UNDER DEVELOPMENT AND INDIRECT INVESTMENTS, BASED ON MPT’S OWNERSHIP.

2. BY BOOK VALUE AS AT 31 DECEMBER 2012, EXCLUDING ASSETS UNDER DEVELOPMENT AND INDIRECT INVESTMENTS.

3. OTHER INCLUDES CARPARKS AND A HOTEL.

PROPERTY COMPENDIUM 31 DECEMBER 2012

Office

Office

==> picture [335 x 100] intentionally omitted <==

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

GraDe DiversificaTiOn [ 1] GeOGraPhic DiversificaTiOn [ 1]
PREMIUM 29.2% NSW 68.6%
A GRADE 63.4% VIC 13.5%
B GRADE 7.4% QLD 6.0%
ACT 11.9%
----- End of picture text -----

PrOPerTy lOcaTiOn nla % Of Office POrTfOliO BOOK value1 GrOss Office renT	PrOPerTy lOcaTiOn nla % Of Office POrTfOliO BOOK value1 GrOss Office renT	PrOPerTy lOcaTiOn nla % Of Office POrTfOliO BOOK value1 GrOss Office renT	valuaTiOn aT 31 Dec 12	naBers raTinG
101 - 103 MILLER STREET NORTH SYDNEY, NSW 37,472 sqm	5.3%	$749/sqm	$182.5m2	–
40 MILLER STREET NORTH SYDNEY, NSW 12,665 sqm	3.0%	$703/sqm	$103.8m	4.5 Star
60 MARGARET STREET SYDNEY, NSW 41,070 sqm	5.0%	$738/sqm	$175.0m2	3.5 Star
10-20 BOND STREET SYDNEY, NSW 37,007 sqm	5.1%	$803/sqm	$177.0m2	–
1 CASTLEREAGH STREET SYDNEY, NSW 11,667 sqm	2.1%	$688/sqm	$72.0m	3.5 Star
275 KENT STREET SYDNEY, NSW 77,125 sqm	24.0%	$837/sqm	$830.0m	4.5 Star
ONE DARLING ISLAND PYRMONT, NSW 22,197 sqm	5.0%	$588/sqm	$175.0m	5.5 Star
BAY CENTRE, PIRRAMA ROAD PYRMONT, NSW 15,972 sqm	3.1%	$586/sqm	$109.2m	5.0 Star
3 RIDER BOULEVARD RHODES, NSW 16,810 sqm	2.4%	$403/sqm	$85.0m	5.0 Star
5 RIDER BOULEVARD RHODES, NSW 25,080 sqm	3.6%	$401/sqm	$124.0m	5.0 Star
1 WOOLWORTHS WAY BELLA VISTA, NSW 44,828 sqm	7.1%	$455/sqm	$246.6m	2.5 Star
55 COONARA AVENUE WEST PENNANT HILLS,NSW 34,080 sqm	2.9%	$305/sqm	$100.5m	–
60 MARCUS CLARKE STREET CANBERRA, ACT 12,057 sqm	1.4%	$461/sqm	$49.1m	3.0 Star
AVIATION HOUSE, 16 FURZER STREET PHILLIP, ACT 14,814 sqm	2.0%	$404/sqm	$68.6m	4.5 Star
SIRIUS BUILDING, 23 FURZER STREET PHILLIP, ACT 46,167 sqm	7.1%	$421/sqm	$244.9m	5.5 Star
54 MARCUS CLARKE STREET CANBERRA, ACT 5,243 sqm	0.4%	$425/sqm	$14.7m	-
38 SYDNEY AVENUE FORREST, ACT 9,099 sqm	1.0%	$425/sqm	$35.5m	4.0 Star
189 GREY STREET SOUTHBANK, QLD 12,728 sqm	2.2%	$447/sqm	$78.0m	4.0 Star
JOHN OXLEY CENTRE, 339 CORONATION DRIVE MILTON, QLD 13,172 sqm	1.6%	$481/sqm	$56.0m	5.0 Star
340 ADELAIDE STREET BRISBANE, QLD 13,231 sqm	1.7%	$581/sqm	$60.0m	5.0 Star
33 CORPORATE DRIVE CANNON HILL, QLD 4,218 sqm	0.4%	$349/sqm	$15.2m	3.5 Star
RIVERSIDE QUAY SOUTHBANK SOUTHBANK, VIC 31,315 sqm	4.9%	$462/sqm	$168.9m	–
ROYAL DOMAIN CENTRE, 380 ST KILDA ROAD MELBOURNE, VIC 24,580 sqm	3.3%	$417/sqm	$114.7m	4.0 Star
COMO CENTRE, CNR TOORAK ROAD & CHAPEL STREET SOUTH YARRA, VIC 25,486 sqm	2.4%	$424/sqm	$82.8m	–
191 - 197 SALMON STREET PORT MELBOURNE, VIC 21,763 sqm	3.0%	$392/sqm	$102.5m	–
TOTAL 609,846 sqm	100.0%		$3,471.5m1
WEIGHTED AVERAGE LEASE EXPIRY BY INCOME			5.7 YEARS3
OCCUPANCY % AREA			97.2%4

1. BY BOOK VALUE AS AT 31 DECEMBER 2012, EXCLUDING ASSETS UNDER DEVELOPMENT AND INDIRECT INVESTMENTS.

2. BOOK VALUE REPRESENTS MPT’S OWNERSHIP.

3. BY INCOME, EXCLUDING ASSETS UNDER DEVELOPMENT AND INDIRECT INVESTMENTS, BASED ON MPT’S OWNERSHIP.

4. BY AREA, EXCLUDING ASSETS UNDER DEVELOPMENT, BASED ON 100% OF BUILDING NLA.

PROPERTY COMPENDIUM 31 DECEMBER 2012

101-103 MILLER STREET

NORTH SYDNEY, NSW

==> picture [193 x 122] intentionally omitted <==

This landmark Premium grade office tower and major retail centre are 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 major refurbishment in 2008. The building was the first existing Premium grade tower to achieve a 5 star Green Star rating.

Summary Information
GRADE	PREMIUM
NABERS Rating	-
OWNERSHIP	50% MPT, 50% EUREKA
NLA	37,472 SQM
CARSPACES	242
ACQUISITION DATE	Jun 94
LAST EXTERNAL VALUATION DATE	31 Dec 12
VALUATION AT 31 DEC 12	$182.5m1
VALUER	Knight Frank
CAPITALISATION RATE	7.00%
DISCOUNT RATE	9.00%
GROSS OFFICE RENT	$749/SQM
Major Tenants NLA SQM	Lease Expiry
STATE PROPERTY AUTHORITY 15,614	JUL 16
COMMONWEALTH OF AUSTRALIA 7,492	JUL 18
Lease Expiry Profile % Income
VACANCY 0.0%
FY13 0.2%
FY14 23.4%
FY15 0.8%
FY16 3.5%
FY17 36.9%
BEYOND 35.2%
WALE 3.6 YEARS

1. REPRESENTS MPT'S OWNERSHIP.

PROPERTY COMPENDIUM 31 DECEMBER 2012

40 MILLER STREET

NORTH SYDNEY, NSW

==> picture [193 x 122] intentionally omitted <==

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 tenants. This building has achieved a 4.5 star NABERS Energy rating.

Summary Information
GRADE	A
NABERS Rating	4.5 Star
OWNERSHIP	100% MPT
NLA	12,665 SQM
CARSPACES	110
ACQUISITION DATE	Mar 98
LAST EXTERNAL VALUATION DATE	30 Jun 12
VALUATION AT 31 DEC 12	$103.8m
VALUER	Directors Valuation
CAPITALISATION RATE	7.25%
DISCOUNT RATE	9.25%
GROSS OFFICE RENT	$703/SQM
Major Tenants NLA SQM	Lease Expiry
UNITED GROUP LIMITED 11,915	NOV 15
ACCOR AUSTRALIA & NZ HOSPITALITY 317	JAN 13
Lease Expiry Profile % Income
VACANCY 0.0%
FY13 2.8%
FY14 0.0%
FY15 1.0%
FY16 95.1%
FY17 1.1%
BEYOND 0.0%
WALE 2.8 YEARS

PROPERTY COMPENDIUM 31 DECEMBER 2012

60 MARGARET STREET

SYDNEY, NSW

==> picture [193 x 122] intentionally omitted <==

This A-Grade building is situated in the heart of the Sydney CBD and comprises 36 levels of office accomodation 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.

Summary Information
GRADE	A
NABERS Rating	3.5 Star
OWNERSHIP	50% MPT, 50% MTAA
NLA	41,070 SQM
CARSPACES	156
ACQUISITION DATE	Aug 98
LAST EXTERNAL VALUATION DATE	31 Dec 12
VALUATION AT 31 DEC 12	$175.0m1
VALUER	Knight Frank
CAPITALISATION RATE	7.00%
DISCOUNT RATE	9.00%
GROSS OFFICE RENT	$738/SQM
Major Tenants NLA SQM	Lease Expiry
SUNCORP CORPORATION SERVICES 4,675	SEP 17
REUTERS AUSTRALIA 4,170	FEB 15
Lease Expiry Profile % Income
VACANCY 5.5%
FY13 5.3%
FY14 6.9%
FY15 14.7%
FY16 25.2%
FY17 0.0%
BEYOND 42.4%
WALE 3.4 YEARS

1. REPRESENTS MPT'S OWNERSHIP.

PROPERTY COMPENDIUM 31 DECEMBER 2012

10-20 BOND STREET

SYDNEY, NSW

==> picture [193 x 123] intentionally omitted <==

This landmark building has recently undergone a full refurbishment and offers an entirely new, architecturally designed lobby, premium grade services and strong sustainability credentials including the use of chilled beam, T5 lighting and tri-generation. A 4 star Green Star rating has been achieved and a 5 star NABERS Energy rating is being targeted.

Summary Information
GRADE	A
NABERS Rating	-
OWNERSHIP	50% MPT, 50% INVESTA
NLA	37,007 SQM
CARSPACES	172
ACQUISITION DATE	Dec 09
LAST EXTERNAL VALUATION DATE	31 Dec 11
VALUATION AT 31 DEC 12	$177.0m1
VALUER	Directors Valuation
CAPITALISATION RATE	6.88%
DISCOUNT RATE	9.00%
GROSS OFFICE RENT	$803/SQM
Major Tenants NLA SQM	Lease Expiry
ORIGIN ENERGY 4,661	NOV 14
THE TRUST COMPANY 3,444	APR 21
Lease Expiry Profile % Income
VACANCY 0.0%
FY13 0.0%
FY14 0.0%
FY15 19.3%
FY16 6.6%
FY17 15.7%
BEYOND 58.4%
WALE 5.3 YEARS

1. REPRESENTS MPT'S OWNERSHIP.

PROPERTY COMPENDIUM 31 DECEMBER 2012

1 CASTLEREAGH STREET

SYDNEY, NSW

==> picture [193 x 122] intentionally omitted <==

Located in the centre of Sydney's financial core, the building offers modern office accomodation with 550 sqm floor plates and direct natural light on three sides. The 21 level building was fully refurbished in 1991, with further partial refurbishment completed in 2007.

Summary Information
GRADE	B
NABERS Rating	3.5 Star
OWNERSHIP	100% MPT
NLA	11,667 SQM
CARSPACES	50
ACQUISITION DATE	Dec 98
LAST EXTERNAL VALUATION DATE	30 Jun 12
VALUATION AT 31 DEC 12	$72.0m
VALUER	Directors Valuation
CAPITALISATION RATE	7.63%
DISCOUNT RATE	9.25%
GROSS OFFICE RENT	$688/SQM
Major Tenants NLA SQM	Lease Expiry
MAC THORPE SERVICES 627	JAN 15
LIT SUPPORT 550	JUL 15
Lease Expiry Profile % Income
VACANCY 9.0%
FY13 9.3%
FY14 18.8%
FY15 19.0%
FY16 20.8%
FY17 18.8%
BEYOND 4.3%
WALE 3.1 YEARS

PROPERTY COMPENDIUM 31 DECEMBER 2012

275 KENT STREET

SYDNEY, NSW

==> picture [193 x 122] intentionally omitted <==

Completed in 2006, Westpac Place has a total NLA of over 77,000 sqm. The winner of numerous property industry awards, it is one of the largest office buildings in Australia and is located in the rapidly improving western corridor of the Sydney CBD. Westpac Place provides Premium grade office accomodation and is the head office of Westpac Banking Corporation. The building has a 4.5 star NABERS Energy rating.

Summary Information
GRADE	PREMIUM
NABERS Rating	4.5 Star
OWNERSHIP	100% MPT
NLA	77,125 SQM
CARSPACES	214
ACQUISITION DATE	Aug 10
LAST EXTERNAL VALUATION DATE	30 Jun 12
VALUATION AT 31 DEC 12	$830.0m
VALUER	Directors Valuation
CAPITALISATION RATE	6.75%
DISCOUNT RATE	9.00%
GROSS OFFICE RENT	$837/SQM
Major Tenants NLA SQM	Lease Expiry
WESTPAC 75,547	OCT 18
SETTLEMENT BAR 398	OCT 16
Lease Expiry Profile % Income
VACANCY 0.0%
FY13 0.0%
FY14 0.3%
FY15 0.1%
FY16 0.1%
FY17 2.9%
BEYOND 96.6%
WALE 5.7 YEARS

PROPERTY COMPENDIUM 31 DECEMBER 2012

ONE DARLING ISLAND

PYRMONT, NSW

==> picture [193 x 122] intentionally omitted <==

Developed by Mirvac in 2006, this A grade office campus comprises six office floors, with two basement parking levels. Situated on the Sydney CBD fringe close to the waterfront, the building features large floor plates of greater than 4,400 sqm each and has achieved a 5.5 star NABERS Energy rating.

Summary Information
GRADE	A
NABERS Rating	5.5 Star
OWNERSHIP	100% MPT
NLA	22,197 SQM
CARSPACES	160
ACQUISITION DATE	Apr 04
LAST EXTERNAL VALUATION DATE	31 Dec 12
VALUATION AT 31 DEC 12	$175.0m
VALUER	Colliers International
CAPITALISATION RATE	7.00%
DISCOUNT RATE	9.00%
GROSS OFFICE RENT	$588/SQM
Major Tenants NLA SQM	Lease Expiry
JOHN FAIRFAX HOLDINGS 22,197	JUN 27
Lease Expiry Profile % Income
VACANCY 0.0%
FY13 0.0%
FY14 0.0%
FY15 0.0%
FY16 0.0%
FY17 0.0%
BEYOND 100.0%
WALE 14.5 YEARS

PROPERTY COMPENDIUM 31 DECEMBER 2012

BAY CENTRE, PIRRAMA ROAD

PYRMONT, NSW

==> picture [193 x 122] intentionally omitted <==

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

Summary Information
GRADE	A
NABERS Rating	5.0 Star
OWNERSHIP	100% MPT
NLA	15,972 SQM
CARSPACES	118
ACQUISITION DATE	Jun 01
LAST EXTERNAL VALUATION DATE	31 Dec 11
VALUATION AT 31 DEC 12	$109.2m
VALUER	Directors Valuation
CAPITALISATION RATE	7.65%
DISCOUNT RATE	9.25%
GROSS OFFICE RENT	$586/SQM
Major Tenants NLA SQM	Lease Expiry
JOHN HOLLAND 6,243	DEC 19
VEOLIA 3,574	DEC 17
Lease Expiry Profile % Income
VACANCY 4.7%
FY13 1.7%
FY14 13.4%
FY15 3.1%
FY16 0.0%
FY17 0.0%
BEYOND 77.1%
WALE 5.4 YEARS

PROPERTY COMPENDIUM 31 DECEMBER 2012

3 RIDER BOULEVARD

RHODES, NSW

==> picture [193 x 122] intentionally omitted <==

Located within 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, flexible floor plates and has achieved a 5 star NABERS Energy rating, combined with 5 Rider Boulevard.

Summary Information
GRADE	A
NABERS Rating	5.0 Star
OWNERSHIP	100% MPT
NLA	16,810 SQM
CARSPACES	305
ACQUISITION DATE	Dec 09
LAST EXTERNAL VALUATION DATE	30 Jun 11
VALUATION AT 31 DEC 12	$85.0m
VALUER	Directors Valuation
CAPITALISATION RATE	8.00%
DISCOUNT RATE	9.25%
GROSS OFFICE RENT	$403/SQM
Major Tenants NLA SQM	Lease Expiry
AAP 3,894	SEP 20
CARDLINK SERVICES 2,973	MAR 16
Lease Expiry Profile % Income
VACANCY 14.4%
FY13 4.9%
FY14 6.2%
FY15 3.4%
FY16 23.8%
FY17 1.8%
BEYOND 45.5%
WALE 4.2 YEARS

PROPERTY COMPENDIUM 31 DECEMBER 2012

5 RIDER BOULEVARD

RHODES, NSW

==> picture [193 x 122] intentionally omitted <==

Developed by Mirvac in 2008, 5 Rider Boulevard is located within Rhodes Waterside development. The property comprises a modern 14 level commercial office building including four levels of basement parking. The building achieved a 5 star NABERS Energy rating, combined with 3 Rider Boulevard.

Summary Information
GRADE	A
NABERS Rating	5.0 Star
OWNERSHIP	100% MPT
NLA	25,080 SQM
CARSPACES	495
ACQUISITION DATE	Jan 07
LAST EXTERNAL VALUATION DATE	31 Dec 12
VALUATION AT 31 DEC 12	$124.0m
VALUER	M3 Property
CAPITALISATION RATE	8.00%
DISCOUNT RATE	9.25%
GROSS OFFICE RENT	$401/SQM
Major Tenants NLA SQM	Lease Expiry
ALCATEL 10,468	DEC 18
FOSTER'S AUSTRALIA 3,189	NOV 15
Lease Expiry Profile % Income
VACANCY 9.7%
FY13 0.8%
FY14 0.0%
FY15 5.1%
FY16 30.4%
FY17 0.0%
BEYOND 54.0%
WALE 4.1 YEARS

PROPERTY COMPENDIUM 31 DECEMBER 2012

1 WOOLWORTHS WAY

BELLA VISTA, NSW

==> picture [193 x 122] intentionally omitted <==

Located 20 km north-west of Sydney CBD within Norwest business Park, this corporate campus has a NLA of over 44,000 sqm and includes retail units, cafes, sports facilities and an auditorium. The property has surplus land for future development, allowing expansion for Woolworths.

Summary Information
GRADE	A
NABERS Rating	2.5 Star
OWNERSHIP	100% MPT
NLA	44,828 SQM
CARSPACES	2,341
ACQUISITION DATE	Aug 10
LAST EXTERNAL VALUATION DATE	30 Jun 11
VALUATION AT 31 DEC 12	$246.6m
VALUER	Directors Valuation
CAPITALISATION RATE	7.75%
DISCOUNT RATE	9.25%
GROSS OFFICE RENT	$455/SQM
Major Tenants NLA SQM	Lease Expiry
WOOLWORTHS 44,828	OCT 20
Lease Expiry Profile % Income
VACANCY 0.0%
FY13 0.0%
FY14 0.0%
FY15 0.0%
FY16 0.0%
FY17 0.0%
BEYOND 100.0%
WALE 7.8 YEARS

PROPERTY COMPENDIUM 31 DECEMBER 2012

55 COONARA AVENUE

WEST PENNANT HILLS, NSW

==> picture [193 x 122] intentionally omitted <==

Located 26 km north-west of the Sydney CBD and 9 km north of Parramatta, the property has a NLA of over 34,000 sqm. Comprising a campus of seven interconnected low-rise buildings and 1,770 carspaces, IBM occupies the entire facility.

Summary Information
GRADE	B
NABERS Rating	-
OWNERSHIP	100% MPT
NLA	34,080 SQM
CARSPACES	1,770
ACQUISITION DATE	Aug 10
LAST EXTERNAL VALUATION DATE	31 Dec 12
VALUATION AT 31 DEC 12	$100.5m
VALUER	CB RIchard Ellis
CAPITALISATION RATE	8.50%
DISCOUNT RATE	9.50%
GROSS OFFICE RENT	$305/SQM
Major Tenants NLA SQM	Lease Expiry
IBM 34,080	AUG 15
Lease Expiry Profile % Income
VACANCY 0.0%
FY13 0.0%
FY14 0.0%
FY15 0.0%
FY16 100.0%
FY17 0.0%
BEYOND 0.0%
WALE 2.7 YEARS

PROPERTY COMPENDIUM 31 DECEMBER 2012

60 MARCUS CLARKE STREET

CANBERRA, ACT

==> picture [193 x 122] intentionally omitted <==

This is one of Canberra's landmark buildings and was constructed in 1988. It comprises 13 offices levels, undercover parking to the rear and a four level annex providing podium floors of 1,300 sqm each and tower floors of 900 sqm.

Summary Information
GRADE	A
NABERS Rating	3.0 Star
OWNERSHIP	100% MPT
NLA	12,057 SQM
CARSPACES	133
ACQUISITION DATE	Sep 89
LAST EXTERNAL VALUATION DATE	30 Jun 11
VALUATION AT 31 DEC 12	$49.1m
VALUER	Directors Valuation
CAPITALISATION RATE	8.75%
DISCOUNT RATE	9.50%
GROSS OFFICE RENT	$461/SQM
Major Tenants NLA SQM	Lease Expiry
AECOM AUSTRALIA 1,529	AUG 16
DEEWR 1,331	OCT 13
Lease Expiry Profile % Income
VACANCY 7.2%
FY13 5.2%
FY14 36.0%
FY15 6.3%
FY16 13.1%
FY17 11.2%
BEYOND 21.0%
WALE 2.6 YEARS

PROPERTY COMPENDIUM 31 DECEMBER 2012

AVIATION HOUSE, 16 FURZER STREET

PHILLIP, ACT

==> picture [193 x 122] intentionally omitted <==

Aviation House is well located in Phillip and comprises nine levels of office accommodation, a cafe 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 Energy rating.

Summary Information
GRADE	A
NABERS Rating	4.5 Star
OWNERSHIP	100% MPT
NLA	14,814 SQM
CARSPACES	148
ACQUISITION DATE	Jul 07
LAST EXTERNAL VALUATION DATE	30 Jun 12
VALUATION AT 31 DEC 12	$68.6m
VALUER	Directors Valuation
CAPITALISATION RATE	7.75%
DISCOUNT RATE	9.50%
GROSS OFFICE RENT	$404/SQM
Major Tenants NLA SQM	Lease Expiry
CASA 8,004	JAN 22
APSC 3,992	FEB 22
Lease Expiry Profile % Income
VACANCY 0.0%
FY13 2.1%
FY14 0.0%
FY15 0.0%
FY16 0.0%
FY17 20.8%
BEYOND 77.1%
WALE 7.8 YEARS

PROPERTY COMPENDIUM 31 DECEMBER 2012

SIRIUS BUILDING, 23 FURZER STREET

PHILLIP, ACT

==> picture [193 x 122] intentionally omitted <==

This recently completed campus style office building, purpose built for the Department of Health and Ageing, comprises 10 office levels, each approximately 4,500 sqm and two levels of basement parking. The building has achieved a 5.5 star NABERS Energy rating.

Summary Information
GRADE	A
NABERS Rating	5.5 Star
OWNERSHIP	100% MPT
NLA	46,167 SQM
CARSPACES	374
ACQUISITION DATE	Feb 10
LAST EXTERNAL VALUATION DATE	30 Jun 12
VALUATION AT 31 DEC 12	$244.9m
VALUER	Directors Valuation
CAPITALISATION RATE	7.50%
DISCOUNT RATE	9.50%
GROSS OFFICE RENT	$421/SQM
Major Tenants NLA SQM	Lease Expiry
DEPARTMENT OF HEALTH & AGEING 45,967	FEB 25
Lease Expiry Profile % Income
VACANCY 0.0%
FY13 0.0%
FY14 0.0%
FY15 0.0%
FY16 0.5%
FY17 0.0%
BEYOND 99.5%
WALE 12.1 YEARS

PROPERTY COMPENDIUM 31 DECEMBER 2012

54 MARCUS CLARKE STREET

CANBERRA, ACT

==> picture [193 x 122] intentionally omitted <==

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

Summary Information
GRADE	B
NABERS Rating	-
OWNERSHIP	100% MPT
NLA	5,243 SQM
CARSPACES	53
ACQUISITION DATE	Oct 87
LAST EXTERNAL VALUATION DATE	31 Dec 12
VALUATION AT 31 DEC 12	$14.7m
VALUER	JLL
CAPITALISATION RATE	9.75%
DISCOUNT RATE	10.50%
GROSS OFFICE RENT	$425/SQM
Major Tenants NLA SQM	Lease Expiry
HUDSON GLOBAL RESOURCES 1,248	SEP 16
COURGETTE 340	JUN 15
Lease Expiry Profile % Income
VACANCY 25.3%
FY13 2.0%
FY14 23.2%
FY15 14.0%
FY16 0.0%
FY17 25.3%
BEYOND 10.2%
WALE 1.9 YEARS

PROPERTY COMPENDIUM 31 DECEMBER 2012

38 SYDNEY AVENUE

FORREST, ACT

==> picture [193 x 122] intentionally omitted <==

Purpose built for the Commonwealthh 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 each. The building is well located close to the Parliamentary Triangle.

Summary Information
GRADE	A
NABERS Rating	4.0 Star
OWNERSHIP	100% MPT
NLA	9,099 SQM
CARSPACES	68
ACQUISITION DATE	Jun 96
LAST EXTERNAL VALUATION DATE	31 Dec 12
VALUATION AT 31 DEC 12	$35.5m
VALUER	JLL
CAPITALISATION RATE	8.50%
DISCOUNT RATE	9.50%
GROSS OFFICE RENT	$425/SQM
Major Tenants NLA SQM	Lease Expiry
DBCDE 8,975	NOV 17
Lease Expiry Profile % Income
VACANCY 0.0%
FY13 0.0%
FY14 0.0%
FY15 0.0%
FY16 1.4%
FY17 0.0%
BEYOND 98.6%
WALE 4.9 YEARS

PROPERTY COMPENDIUM 31 DECEMBER 2012

189 GREY STREET

SOUTHBANK, QLD

==> picture [193 x 122] intentionally omitted <==

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 each and spectacular river and city views. The Southbank precinct provides the benefits of parklands, retail services and public transport.

Summary Information
GRADE	A
NABERS Rating	4.0 Star
OWNERSHIP	100% MPT
NLA	12,728 SQM
CARSPACES	144
ACQUISITION DATE	Apr 04
LAST EXTERNAL VALUATION DATE	31 Dec 11
VALUATION AT 31 DEC 12	$78.0m
VALUER	Directors Valuation
CAPITALISATION RATE	7.63%
DISCOUNT RATE	9.25%
GROSS OFFICE RENT	$447/SQM
Major Tenants NLA SQM	Lease Expiry
INSURANCE AUSTRALIA 7,281	MAR 15
THIESS 4,659	DEC 20
Lease Expiry Profile % Income
VACANCY 0.0%
FY13 2.5%
FY14 2.9%
FY15 48.3%
FY16 0.6%
FY17 0.0%
BEYOND 45.7%
WALE 4.8 YEARS

PROPERTY COMPENDIUM 31 DECEMBER 2012

JOHN OXLEY CENTRE, 339 CORONATION DRIVE

MILTON, QLD

==> picture [193 x 122] intentionally omitted <==

A campus style commercial office building with five levels of office accomodation 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. The building underwent a lobby and foyer refurbishment in 2012.

Summary Information
GRADE	B
NABERS Rating	5.0 Star
OWNERSHIP	100% MPT
NLA	13,172 SQM
CARSPACES	319
ACQUISITION DATE	May 02
LAST EXTERNAL VALUATION DATE	31 Dec 12
VALUATION AT 31 DEC 12	$56.0m
VALUER	JLL
CAPITALISATION RATE	9.00%
DISCOUNT RATE	10.00%
GROSS OFFICE RENT	$481/SQM
Major Tenants NLA SQM	Lease Expiry
ORIGIN ENERGY 12,581	JUN 18
Lease Expiry Profile % Income
VACANCY 1.3%
FY13 0.0%
FY14 29.3%
FY15 0.0%
FY16 0.0%
FY17 7.8%
BEYOND 61.6%
WALE 4.0 YEARS

PROPERTY COMPENDIUM 31 DECEMBER 2012

340 ADELAIDE STREET

BRISBANE, QLD

==> picture [193 x 122] intentionally omitted <==

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 recently achieved a 5 star NABERS Energy rating.

Summary Information
GRADE	A
NABERS Rating	5.0 Star
OWNERSHIP	100% MPT
NLA	13,231 SQM
CARSPACES	94
ACQUISITION DATE	Dec 09
LAST EXTERNAL VALUATION DATE	31 Dec 12
VALUATION AT 31 DEC 12	$60.0m
VALUER	Colliers International
CAPITALISATION RATE	8.75%
DISCOUNT RATE	9.25%
GROSS OFFICE RENT	$581/SQM
Major Tenants NLA SQM	Lease Expiry
XSTRATA COAL QUEENSLAND 1,748	APR 14
AUSTRALIAN GOVERNMENT SOLICITOR 1,724	MAR 14
Lease Expiry Profile % Income
VACANCY 5.1%
FY13 0.0%
FY14 41.5%
FY15 31.9%
FY16 1.0%
FY17 8.7%
BEYOND 11.8%
WALE 2.3 YEARS

PROPERTY COMPENDIUM 31 DECEMBER 2012

33 CORPORATE DRIVE

CANNON HILL, QLD

==> picture [193 x 122] intentionally omitted <==

This building benefits from its prime location in the Southgate Corporate Park, 7 km east of the Brisbane CBD. Precommitted to Westpac prior to constuction in 2003, the building has potential for an additional 1,000 sqm development. The unusual exterior frame design optimises efficiency and flexibility accross the floor plate.

Summary Information
GRADE	B
NABERS Rating	3.5 Star
OWNERSHIP	100% MPT
NLA	4,218 SQM
CARSPACES	302
ACQUISITION DATE	Aug 10
LAST EXTERNAL VALUATION DATE	30 Jun 11
VALUATION AT 31 DEC 12	$15.2m
VALUER	Directors Valuation
CAPITALISATION RATE	9.00%
DISCOUNT RATE	9.75%
GROSS OFFICE RENT	$349/SQM
Major Tenants NLA SQM	Lease Expiry
WESTPAC 4,218	NOV 14
Lease Expiry Profile % Income
VACANCY 0.0%
FY13 0.0%
FY14 0.0%
FY15 100.0%
FY16 0.0%
FY17 0.0%
BEYOND 0.0%
WALE 1.9 YEARS

PROPERTY COMPENDIUM 31 DECEMBER 2012

RIVERSIDE QUAY

SOUTHBANK, VIC

==> picture [193 x 122] intentionally omitted <==

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 has undergone a significant refurbishment. The building is the office of Mirvac Victoria.

Summary Information
GRADE	A
NABERS Rating	-
OWNERSHIP	100% MPT
NLA	31,315 SQM
CARSPACES	164
ACQUISITION DATE	Apr 02 (1 & 3) Jul 03 (2)
LAST EXTERNAL VALUATION DATE	31 Dec 11
VALUATION AT 31 DEC 12	$168.9m
VALUER	Directors Valuation
CAPITALISATION RATE	7.75%
DISCOUNT RATE	9.25%
GROSS OFFICE RENT	$462/SQM
Major Tenants NLA SQM	Lease Expiry
URS AUSTRALIA 4,663	FEB 14
STA TRAVEL 1,566	OCT 19
Lease Expiry Profile % Income
VACANCY 1.4%
FY13 1.4%
FY14 26.2%
FY15 3.9%
FY16 7.4%
FY17 7.8%
BEYOND 51.9%
WALE 4.3 YEARS

PROPERTY COMPENDIUM 31 DECEMBER 2012

ROYAL DOMAIN CENTRE, 380 ST KILDA ROAD

MELBOURNE, VIC

==> picture [193 x 122] intentionally omitted <==

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

Summary Information
GRADE	A
NABERS Rating	4.0 Star
OWNERSHIP	100% MPT
NLA	24,580 SQM
CARSPACES	515
ACQUISITION DATE	Oct 95 (50%) Apr 01 (50%)
LAST EXTERNAL VALUATION DATE	30 Jun 11
VALUATION AT 31 DEC 12	$114.7m
VALUER	Directors Valuation
CAPITALISATION RATE	8.00%
DISCOUNT RATE	9.00%
GROSS OFFICE RENT	$417/SQM
Major Tenants NLA SQM	Lease Expiry
TOLL TRANSPORT 8,450	NOV 20
STW COMMUNICATIONS 3,813	JUN 17
Lease Expiry Profile % Income
VACANCY 4.1%
FY13 0.1%
FY14 0.0%
FY15 10.3%
FY16 16.0%
FY17 14.9%
BEYOND 54.6%
WALE 5.9 YEARS

PROPERTY COMPENDIUM 31 DECEMBER 2012

COMO CENTRE, CNR TOORAK ROAD AND CHAPEL STREET

SOUTH YARRA, VIC

==> picture [193 x 122] intentionally omitted <==

The complex includes office accomodation across three towers, a retail centre of 30 shops and a cinema. The recently refurbished 5 star, 107 room Como Hotel and commercial car park complement the landmark complex.

Summary Information
GRADE	A
NABERS Rating	-
OWNERSHIP	100% MPT
NLA	25,486 SQM
CARSPACES	-
ACQUISITION DATE	Aug 98
LAST EXTERNAL VALUATION DATE	30 Jun 11
VALUATION AT 31 DEC 12	$82.8m
VALUER	Directors Valuation
CAPITALISATION RATE	8.29%
DISCOUNT RATE	9.29%
GROSS OFFICE RENT	$424/SQM
Major Tenants NLA SQM	Lease Expiry
NETWORK TEN 4,916	JUN 19
WALT DISNEY 2,535	SEP 17
Lease Expiry Profile % Income
VACANCY 11.9%
FY13 9.0%
FY14 14.9%
FY15 12.9%
FY16 7.3%
FY17 1.8%
BEYOND 42.2%
WALE 2.9 YEARS

PROPERTY COMPENDIUM 31 DECEMBER 2012

191-197 SALMON STREET

PORT MELBOURNE, VIC

==> picture [193 x 122] intentionally omitted <==

Headquarters for GM Holden, 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
GRADE	A
NABERS Rating	-
OWNERSHIP	100% MPT
NLA	21,763 SQM
CARSPACES	988
ACQUISITION DATE	Jul 03
LAST EXTERNAL VALUATION DATE	30 Jun 12
VALUATION AT 31 DEC 12	$102.5m
VALUER	Directors Valuation
CAPITALISATION RATE	8.00%
DISCOUNT RATE	9.25%
GROSS OFFICE RENT	$392/SQM
Major Tenants NLA SQM	Lease Expiry
GM HOLDEN 21,763	APR 20
Lease Expiry Profile % Income
VACANCY 0.0%
FY13 0.0%
FY14 0.0%
FY15 0.0%
FY16 0.0%
FY17 0.0%
BEYOND 100.0%
WALE 7.3 YEARS

PROPERTY COMPENDIUM 31 DECEMBER 2012

retail

==> picture [117 x 19] intentionally omitted <==

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

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

==> picture [335 x 97] intentionally omitted <==

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

GraDe DiversificaTiOn [ 1] GeOGraPhic DiversificaTiOn [ 1]
SUB REGIONAL 78.8% NSW 48.2%
BULKY GOODS 3.1% VIC 16.4%
CENTRE
CBD RETAIL 10.3% QLD 32.6%
NEIGHBOURHOOD 7.8% ACT 2.8%
----- End of picture text -----

PrOPerTy lOcaTiOn Gla % of reTail POrTfOliO BOOK value1 cenTre MaT2	PrOPerTy lOcaTiOn Gla % of reTail POrTfOliO BOOK value1 cenTre MaT2	PrOPerTy lOcaTiOn Gla % of reTail POrTfOliO BOOK value1 cenTre MaT2	valuaTiOn aT 31 Dec 12
METCENTRE SYDNEY, NSW 6,553 sqm	3.8%	$57.0m	$63.5m3
GREENWOOD PLAZA NORTH SYDNEY, NSW 8,748 sqm	5.1%	$77.3m	$85.0m3
BROADWAY SHOPPING CENTRE BROADWAY, NSW 49,818 sqm	15.3%	$422.9m	$250.2m3
RHODES SHOPPING CENTRE RHODES, NSW 32,890 sqm	7.1%	$169.3m	$117.4m3
ST MARYS VILLAGE CENTRE ST MARYS, NSW 16,110 sqm	2.6%	$92.0m	$44.0m
STANHOPE VILLAGE STANHOPE GARDENS, NSW 15,239 sqm	4.7%	$131.9m	$78.3m
CHERRYBROOK VILLAGE SHOPPING CENTRE CHERRYBROOK, NSW 9,458 sqm	4.9%	$117.1m	$82.0m
ORANGE CITY CENTRE ORANGE, NSW 17,853 sqm	2.9%	$70.8m	$48.0m
MANNING MALL TAREE, NSW 10,955 sqm	2.0%	$60.4m	$32.6m
COOLEMAN COURT WESTON, ACT 10,687 sqm	2.8%	$106.6m	$47.0m
LOGAN MEGACENTRE LOGAN, QLD 26,995 sqm	3.1%	N/A	$52.0m
ORION SPRINGFIELD TOWN CENTRE SPRINGFIELD, QLD 34,152 sqm	7.7%	$188.2m	$128.0m
HINKLER CENTRAL BUNDABERG, QLD 20,776 sqm	5.5%	$166.0m	$92.0m
KAWANA SHOPPINGWORLD BUDDINA, QLD 29,932 sqm	13.3%	$252.2m	$220.8m
CITY CENTRE PLAZA ROCKHAMPTON, QLD 14,109 sqm	2.9%	$82.9m	$49.0m
COMO CENTRE SOUTH YARRA, VIC 6,666 sqm	1.4%	$19.7m	$22.9m
GIPPSLAND CENTRE SALE, VIC 22,753 sqm	2.9%	$118.0m	$48.4m
WAVERLEY GARDENS SHOPPING CENTRE MULGRAVE, VIC 38,340 sqm	8.0%	$182.8m	$133.7m
MOONEE PONDS CENTRAL MOONEE PONDS, VIC 18,612 sqm	4.0%	$103.0m	$66.7m
TOTAL 390,646 sqm	100.0%		$1,661.5m1
WEIGHTED AVERAGE LEASE EXPIRY BY INCOME			4.1 YEARS4
OCCUPANCY % AREA			98.9%5

1. BY BOOK VALUE AS AT 31 DECEMBER 2012, EXCLUDES ASSETS UNDER DEVELOPMENT AND INDIRECT INVESTMENTS.

2. 12 MONTHS TO 31 DECEMBER 2012, IN ACCORDANCE WITH SCCA GUIDELINES.

3. BOOK VALUE REPRESENTS MPT’S OWNERSHIP.

4. BY INCOME, EXCLUDING ASSETS UNDER DEVELOPMENT AND INDIRECT INVESTMENTS, BASED ON MPT’S OWNERSHIP.

5. BY AREA, EXCLUDING ASSETS UNDER DEVELOPMENT, BASED ON 100% OF BUILDING GLA.

PROPERTY COMPENDIUM 31 DECEMBER 2012

METCENTRE

SYDNEY, NSW

==> picture [193 x 122] intentionally omitted <==

The Metcentre is anchored by a Woolworths supermarket and comprises over 70 specialty stores. It is located in the centre of the Sydney CBD at the base of 60 Margaret Street with excellent exposure to George Street. Metcentre also provides a direct pedestrian link to Wynyard Railway Station.

Summary Information
GRADE	CBD RETAIL
OWNERSHIP	50% MPT, 50% MTAA
GLA	6,553 SQM
CARSPACES	-
ACQUISITION DATE	Aug 98
LAST EXTERNAL VALUATION DATE	31 Dec 12
VALUATION AT 31 DEC 12	$63.5m1
VALUER	Knight Frank
CAPITALISATION RATE	6.50%
DISCOUNT RATE	9.00%
CENTRE MAT	$57.0m
SPECIALTY OCCUPANCY COST	22.6%
Major Tenants GLA SQM	Lease Expiry
WOOLWORTHS 696	MAY 30
FLORSHEIM 267	OCT 13
Lease Expiry Profile % Income
VACANCY 0.0%
FY13 9.0%
FY14 28.4%
FY15 17.2%
FY16 20.9%
FY17 5.3%
BEYOND 19.2%
WALE 3.5 YEARS

1. REPRESENTS MPT'S OWNERSHIP.

PROPERTY COMPENDIUM 31 DECEMBER 2012

GREENWOOD PLAZA

NORTH SYDNEY, NSW

==> picture [193 x 122] intentionally omitted <==

Greenwood Plaza is a three level centre at the base of North Sydneyʼs iconic 101-103 Miller Street. It comprises over 95 retail and service outlets with the ground level retail flowing directly into North Sydney Railway Station.

Summary Information
GRADE	CBD RETAIL
OWNERSHIP	50% MPT, 50% EUREKA
GLA	8,748 SQM
CARSPACES	273
ACQUISITION DATE	Jun 94
LAST EXTERNAL VALUATION DATE	31 Dec 12
VALUATION AT 31 DEC 12	$85.0m1
VALUER	Knight Frank
CAPITALISATION RATE	6.75%
DISCOUNT RATE	9.25%
CENTRE MAT	$77.3m
SPECIALTY OCCUPANCY COST	20.2%
Major Tenants GLA SQM	Lease Expiry
GREENWOOD HOTEL 856	NOV 17
IGA 713	APR 17
Lease Expiry Profile % Income
VACANCY 1.5%
FY13 28.5%
FY14 14.0%
FY15 10.4%
FY16 14.1%
FY17 13.2%
BEYOND 18.3%
WALE 2.4 YEARS

1. REPRESENTS MPT'S OWNERSHIP.

PROPERTY COMPENDIUM 31 DECEMBER 2012

BROADWAY SHOPPING CENTRE

BROADWAY, NSW

==> picture [193 x 122] intentionally omitted <==

This dominant sub regional centre is located on the fringe of the Sydney CBD and services the growing catchment of Sydneyʼs inner city and inner west. The major retailers comprise Coles, Kmart, BI-LO, Target, Hoyts and Apple as well as over 130 specialty stores.

Summary Information
GRADE	SUB REGIONAL
OWNERSHIP	50% MPT, 50% PERRON
GLA	49,818 SQM
CARSPACES	1,852
ACQUISITION DATE	Jan 07
LAST EXTERNAL VALUATION DATE	30 Jun 12
VALUATION AT 31 DEC 12	$250.2m1
VALUER	Directors Valuation
CAPITALISATION RATE	6.00%
DISCOUNT RATE	9.00%
CENTRE MAT	$422.9m
SPECIALTY OCCUPANCY COST	17.4%
Major Tenants GLA SQM	Lease Expiry
KMART 7,394	MAR 23
HOYTS 4,857	JUL 18
Lease Expiry Profile % Income
VACANCY 0.3%
FY13 19.3%
FY14 12.8%
FY15 11.4%
FY16 4.8%
FY17 10.6%
BEYOND 40.8%
WALE 4.6 YEARS

1. REPRESENTS MPT'S OWNERSHIP.

PROPERTY COMPENDIUM 31 DECEMBER 2012

RHODES SHOPPING CENTRE

RHODES, NSW

==> picture [193 x 122] intentionally omitted <==

The centre is co-located with IKEA in the rapidly developing Rhodes residential and office precinct. The major retailers comprise Coles, Target and Reading Cinemas. There are over 100 retail and service outlets.

Summary Information
GRADE	SUB REGIONAL
OWNERSHIP	50% MPT, 50% PERRON
GLA	32,890 SQM
CARSPACES	2,450
ACQUISITION DATE	Jan 07
LAST EXTERNAL VALUATION DATE	30 Jun 11
VALUATION AT 31 DEC 12	$117.4m1
VALUER	Directors Valuation
CAPITALISATION RATE	7.00%
DISCOUNT RATE	9.25%
CENTRE MAT	$169.3m
SPECIALTY OCCUPANCY COST	18.1%
Major Tenants GLA SQM	Lease Expiry
TARGET 3,795	NOV 24
COLES 3,497	DEC 19
Lease Expiry Profile % Income
VACANCY 0.5%
FY13 9.0%
FY14 2.7%
FY15 23.6%
FY16 16.4%
FY17 15.0%
BEYOND 32.8%
WALE 4.2 YEARS

1. REPRESENTS MPT'S OWNERSHIP.

PROPERTY COMPENDIUM 31 DECEMBER 2012

ST MARYS VILLAGE CENTRE

ST MARYS, NSW

==> picture [193 x 122] intentionally omitted <==

Located in the western Sydney suburb of St Marys, this sub regional centre comprises Woolworths, Target and over 40 specialty stores. The centre provides convenient shopping over a single level with easily accessible on-grade parking.

Summary Information
GRADE	SUB REGIONAL
OWNERSHIP	100% MPT
GLA	16,110 SQM
CARSPACES	551
ACQUISITION DATE	Jan 03
LAST EXTERNAL VALUATION DATE	31 Dec 12
VALUATION AT 31 DEC 12	$44.0m
VALUER	JLL
CAPITALISATION RATE	7.75%
DISCOUNT RATE	9.00%
CENTRE MAT	$92.0m
SPECIALTY OCCUPANCY COST	12.7%
Major Tenants GLA SQM	Lease Expiry
TARGET 8,019	JUL 21
WOOLWORTHS 4,046	NOV 15
Lease Expiry Profile % Income
VACANCY 0.0%
FY13 8.3%
FY14 15.4%
FY15 12.0%
FY16 21.9%
FY17 14.0%
BEYOND 28.4%
WALE 3.7 YEARS

PROPERTY COMPENDIUM 31 DECEMBER 2012

STANHOPE VILLAGE

STANHOPE GARDENS, NSW

==> picture [193 x 122] intentionally omitted <==

Located in the rapidly growing north-west corridor of Sydney, Stanhope Village Stage 1 opened in late 2003 and Stage 2 opened in March 2007. The centre is conveniently located adjacent to the areaʼs busy leisure centre and pool facility. Stage 3 development has commenced for an expansion of 2,200 sqm, including the addition of an ALDI store. Completion is anticipated in August 2013.

Summary Information
GRADE	SUB REGIONAL
OWNERSHIP	100% MPT
GLA	15,239 SQM
CARSPACES	698
ACQUISITION DATE	Nov 03
LAST EXTERNAL VALUATION DATE	31 Dec 11
VALUATION AT 31 DEC 12	$78.3m
VALUER	Directors Valuation
CAPITALISATION RATE	7.50%
DISCOUNT RATE	9.25%
CENTRE MAT	$131.9m
SPECIALTY OCCUPANCY COST	10.6%
Major Tenants GLA SQM	Lease Expiry
KMART 5,060	MAR 22
COLES 3,500	NOV 18
Lease Expiry Profile % Income
VACANCY 0.8%
FY13 17.1%
FY14 19.0%
FY15 10.8%
FY16 16.2%
FY17 1.3%
BEYOND 34.8%
WALE 3.6 YEARS

PROPERTY COMPENDIUM 31 DECEMBER 2012

CHERRYBROOK VILLAGE SHOPPING CENTRE

CHERRYBROOK, NSW

==> picture [193 x 122] intentionally omitted <==

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 and over 50 specialty tenancies including a strong fresh food precinct.

Summary Information
GRADE	NEIGHBOURHOOD
OWNERSHIP	100% MPT
GLA	9,458 SQM
CARSPACES	474
ACQUISITION DATE	Dec 09
LAST EXTERNAL VALUATION DATE	30 Jun 11
VALUATION AT 31 DEC 12	$82.0m
VALUER	Directors Valuation
CAPITALISATION RATE	7.50%
DISCOUNT RATE	9.50%
CENTRE MAT	$117.1m
SPECIALTY OCCUPANCY COST	16.1%
Major Tenants GLA SQM	Lease Expiry
WOOLWORTHS 3,832	MAR 25
MARTELLI'S FRUIT MARKET 679	AUG 14
Lease Expiry Profile % Income
VACANCY 1.5%
FY13 7.5%
FY14 3.5%
FY15 25.9%
FY16 16.7%
FY17 13.2%
BEYOND 31.7%
WALE 4.2 YEARS

PROPERTY COMPENDIUM 31 DECEMBER 2012

ORANGE CITY CENTRE

ORANGE, NSW

==> picture [193 x 122] intentionally omitted <==

Orange City Centre is the dominant centre in the strong regional city of Orange. The centre incorporates a Myer department store, a Big W and over 30 specialty stores as well as undercover parking.

Summary Information
GRADE	SUB REGIONAL
OWNERSHIP	100% MPT
GLA	17,853 SQM
CARSPACES	414
ACQUISITION DATE	Apr 93
LAST EXTERNAL VALUATION DATE	31 Dec 11
VALUATION AT 31 DEC 12	$48.0m
VALUER	Directors Valuation
CAPITALISATION RATE	8.50%
DISCOUNT RATE	10.00%
CENTRE MAT	$70.8m
SPECIALTY OCCUPANCY COST	12.7%
Major Tenants GLA SQM	Lease Expiry
BIG W 7,017	NOV 26
MYER 6,858	NOV 16
Lease Expiry Profile % Income
VACANCY 1.0%
FY13 5.3%
FY14 21.6%
FY15 9.4%
FY16 8.7%
FY17 25.7%
BEYOND 28.3%
WALE 5.4 YEARS

PROPERTY COMPENDIUM 31 DECEMBER 2012

MANNING MALL

TAREE, NSW

==> picture [193 x 122] intentionally omitted <==

Manning Mall is located approximately 300 km north of Sydney in the main retail street of Taree. The centre was extended and refurbished in 2009 to include a new Target store and a Coles supermarket.

Summary Information
GRADE	SUB REGIONAL
OWNERSHIP	100% MPT
GLA	10,955 SQM
CARSPACES	400
ACQUISITION DATE	Dec 06
LAST EXTERNAL VALUATION DATE	31 Dec 11
VALUATION AT 31 DEC 12	$32.6m
VALUER	Directors Valuation
CAPITALISATION RATE	8.75%
DISCOUNT RATE	9.50%
CENTRE MAT	$60.4m
SPECIALTY OCCUPANCY COST	11.0%
Major Tenants GLA SQM	Lease Expiry
COLES 3,650	SEP 24
TARGET 3,500	NOV 18
Lease Expiry Profile % Income
VACANCY 5.1%
FY13 4.1%
FY14 14.4%
FY15 10.5%
FY16 9.2%
FY17 5.9%
BEYOND 50.8%
WALE 5.4 YEARS

PROPERTY COMPENDIUM 31 DECEMBER 2012

COOLEMAN COURT

WESTON, ACT

==> picture [193 x 122] intentionally omitted <==

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. The centre has over 35 specialty shops and is located near the newly opened residential area of Molonglo Valley.

Summary Information
GRADE	NEIGHBOURHOOD
OWNERSHIP	100% MPT
GLA	10,687 SQM
CARSPACES	497
ACQUISITION DATE	Dec 09
LAST EXTERNAL VALUATION DATE	31 Dec 11
VALUATION AT 31 DEC 12	$47.0m
VALUER	Directors Valuation
CAPITALISATION RATE	7.75%
DISCOUNT RATE	9.50%
CENTRE MAT	$106.6m
SPECIALTY OCCUPANCY COST	13.3%
Major Tenants GLA SQM	Lease Expiry
WOOLWORTHS 3,102	JUL 23
ALDI 1,400	JAN 19
Lease Expiry Profile % Income
VACANCY 0.0%
FY13 4.3%
FY14 5.2%
FY15 9.0%
FY16 8.5%
FY17 17.7%
BEYOND 55.3%
WALE 5.5 YEARS

PROPERTY COMPENDIUM 31 DECEMBER 2012

ORION SPRINGFIELD TOWN CENTRE

SPRINGFIELD, QLD

==> picture [193 x 122] intentionally omitted <==

Located in Brisbaneʼs rapidly growing south-western corridor, the centre opened in March 2007 and includes Woolworths, Big W, ALDI, Spotlight and over 100 specialty stores. The centre has substantial expansion potential. The Orion Pad Site development, a $16.9 million project at the south eastern corner of the site, is progressing with stage one completed in January 2013. Stage one comprises two buildings leased to KFC, Super Cheap Auto, Bridgestone and Kmart Tyre and Auto. Commencement of stage two, to accommodate BCF, Amart All Sports and Hogs Breath Cafe, is due in January 2013 with completion anticipated December 2013, subject to council approval.

Summary Information
GRADE	SUB REGIONAL
OWNERSHIP	100% MPT
GLA	34,152 SQM
CARSPACES	1,992
ACQUISITION DATE	Aug 02
LAST EXTERNAL VALUATION DATE	31 Dec 12
VALUATION AT 31 DEC 12	$128.0m
VALUER	Savills
CAPITALISATION RATE	6.75%
DISCOUNT RATE	9.25%
CENTRE MAT	$188.2m
SPECIALTY OCCUPANCY COST	13.5%
Major Tenants GLA SQM	Lease Expiry
BIG W 8,198	MAR 27
WOOLWORTHS 4,471	MAR 27
Lease Expiry Profile % Income
VACANCY 2.1%
FY13 9.8%
FY14 13.6%
FY15 10.5%
FY16 6.2%
FY17 23.5%
BEYOND 34.3%
WALE 5.1 YEARS

PROPERTY COMPENDIUM 31 DECEMBER 2012

LOGAN MEGACENTRE

LOGAN, QLD

==> picture [193 x 122] intentionally omitted <==

The premier homemaker facility for Brisbaneʼs growing south-west corridor. Co-located with IKEA, the centre has excellent exposure to the M1 Motorway. Major tenants include Spotlight, Freedom and Anaconda.

Summary Information
GRADE	BULKY GOODS CENTRE
OWNERSHIP	100% MPT
GLA	26,995 SQM
CARSPACES	600
ACQUISITION DATE	Oct 05
LAST EXTERNAL VALUATION DATE	31 Dec 12
VALUATION AT 31 DEC 12	$52.0m
VALUER	Knight Frank
CAPITALISATION RATE	9.50%
DISCOUNT RATE	10.25%
CENTRE MAT	N/A
SPECIALTY OCCUPANCY COST	N/A
Major Tenants GLA SQM	Lease Expiry
SPOTLIGHT 3,509	SEP 17
ANACONDA 3,425	MAR 17
Lease Expiry Profile % Income
VACANCY 4.3%
FY13 0.1%
FY14 23.3%
FY15 12.9%
FY16 2.0%
FY17 41.7%
BEYOND 15.7%
WALE 3.1 YEARS

PROPERTY COMPENDIUM 31 DECEMBER 2012

HINKLER CENTRAL

BUNDABERG, QLD

==> picture [193 x 122] intentionally omitted <==

Located in the strong regional centre of Bundaberg, the centre comprises Woolworths, Coles, Kmart and over 70 specialty stores. On-site parking is provided for 1,070 vehicles including 770 basement level bays.

Summary Information
GRADE	SUB REGIONAL
OWNERSHIP	100% MPT
GLA	20,776 SQM
CARSPACES	1,070
ACQUISITION DATE	Aug 03
LAST EXTERNAL VALUATION DATE	31 Dec 12
VALUATION AT 31 DEC 12	$92.0m
VALUER	CB Richard Ellis
CAPITALISATION RATE	7.75%
DISCOUNT RATE	9.50%
CENTRE MAT	$166.0m
SPECIALTY OCCUPANCY COST	10.0%
Major Tenants GLA SQM	Lease Expiry
KMART 6,224	JUL 15
WOOLWORTHS 3,548	MAR 20
Lease Expiry Profile % Income
VACANCY 0.2%
FY13 8.0%
FY14 11.4%
FY15 12.9%
FY16 29.4%
FY17 20.7%
BEYOND 17.4%
WALE 3.1 YEARS

PROPERTY COMPENDIUM 31 DECEMBER 2012

KAWANA SHOPPINGWORLD

BUDDINA, QLD

==> picture [193 x 122] intentionally omitted <==

Located on Queenslandʼs Sunshine Coast, this dominant centre comprises Woolworths, Big W, Coles and over 100 specialty stores. Stage 4 development has commenced to expand the centre by 8,900 sqm, including an ALDI store. Completion is expected in July 2014.

Summary Information
GRADE	SUB REGIONAL
OWNERSHIP	100% MPT
GLA	29,932 SQM
CARSPACES	1,720
ACQUISITION DATE	Dec 93 (50%) Jun 98 (50%)
LAST EXTERNAL VALUATION DATE	31 Dec 11
VALUATION AT 31 DEC 12	$220.8m
VALUER	Directors Valuation
CAPITALISATION RATE	6.75%
DISCOUNT RATE	9.25%
CENTRE MAT	$252.2m
SPECIALITY OCCUPANCY COST	14.0%
Major Tenants GLA SQM	Lease Expiry
BIG W 8,383	JUN 21
WOOLWORTHS 3,648	NOV 14
Lease Expiry Profile % Income
VACANCY 1.2%
FY13 7.3%
FY14 4.9%
FY15 31.9%
FY16 25.2%
FY17 7.0%
BEYOND 22.5%
WALE 3.2 YEARS

PROPERTY COMPENDIUM 31 DECEMBER 2012

CITY CENTRE PLAZA

ROCKHAMPTON, QLD

==> picture [193 x 122] intentionally omitted <==

City Centre Plaza is situated on the fringe of Rockhamptonʼs CBD. The single level sub regional shopping centre is anchored by a Target store and a Coles supermarket with over 35 specialty shops.

Summary Information
GRADE	SUB REGIONAL
OWNERSHIP	100% MPT
GLA	14,109 SQM
CARSPACES	495
ACQUISITION DATE	Dec 09
LAST EXTERNAL VALUATION DATE	30 Jun 11
VALUATION AT 31 DEC 12	$49.0m
VALUER	Directors Valuation
CAPITALISATION RATE	8.00%
DISCOUNT RATE	9.75%
CENTRE MAT	$82.9m
SPECIALTY OCCUPANCY COST	13.1%
Major Tenants GLA SQM	Lease Expiry
TARGET 6,910	JUL 15
COLES 3,670	OCT 13
Lease Expiry Profile % Income
VACANCY 1.6%
FY13 2.3%
FY14 32.3%
FY15 7.2%
FY16 44.6%
FY17 8.0%
BEYOND 4.0%
WALE 2.2 YEARS

PROPERTY COMPENDIUM 31 DECEMBER 2012

COMO CENTRE

SOUTH YARRA, VIC

==> picture [193 x 122] intentionally omitted <==

Como Centre is a mixed use office, retail and hotel complex, with the retail component comprising over 25 specialty stores and an art house cinema. The centre is located on the popular retail strips of Chapel Street and Toorak Road in the affluent Melbourne area of South Yarra.

Summary Information
GRADE	CBD RETAIL
OWNERSHIP	100% MPT
GLA	6,666 SQM
CARSPACES	-
ACQUISITION DATE	Aug 98
LAST EXTERNAL VALUATION DATE	30 Jun 11
VALUATION AT 31 DEC 12	$22.9m
VALUER	Directors Valuation
CAPITALISATION RATE	8.00%
DISCOUNT RATE	9.50%
CENTRE MAT	$19.7m
SPECIALTY OCCUPANCY COST	12.4%
Major Tenants GLA SQM	Lease Expiry
CINEMA COMO 1,911	FEB 20
ECO HAIR PRODUCTS 538	OCT 16
Lease Expiry Profile % Income
VACANCY 4.4%
FY13 6.8%
FY14 12.0%
FY15 30.1%
FY16 8.3%
FY17 10.2%
BEYOND 28.2%
WALE 3.2 YEARS

PROPERTY COMPENDIUM 31 DECEMBER 2012

GIPPSLAND CENTRE

SALE, VIC

==> picture [193 x 122] intentionally omitted <==

Located in the heart of Saleʼs CBD, some 260 km east of Melbourne, the Gippsland Centre includes Coles, Woolworths, Target and over 35 specialty stores with abundant on grade parking.

Summary Information
GRADE	SUB REGIONAL
OWNERSHIP	100% MPT
GLA	22,753 SQM
CARSPACES	1,066
ACQUISITION DATE	Jan 94
LAST EXTERNAL VALUATION DATE	31 Dec 11
VALUATION AT 31 DEC 12	$48.4m
VALUER	Directors Valuation
CAPITALISATION RATE	8.50%
DISCOUNT RATE	9.50%
CENTRE MAT	$118.0m
SPECIALTY OCCUPANCY COST	13.2%
Major Tenants GLA SQM	Lease Expiry
TARGET 7,778	JUL 20
AUSTRALIAN SAFEWAY 3,362	NOV 27
Lease Expiry Profile % Income
VACANCY 0.2%
FY13 6.1%
FY14 26.9%
FY15 13.7%
FY16 6.8%
FY17 7.7%
BEYOND 38.6%
WALE 4.8 YEARS

PROPERTY COMPENDIUM 31 DECEMBER 2012

WAVERLEY GARDENS SHOPPING CENTRE

MULGRAVE, VIC

==> picture [193 x 122] intentionally omitted <==

Waverley Gardens Shopping centre is located adjacent to Mirvacʼs Waverley Park residential development and the Monash Freeway. A major upgrade and expansion was completed in March 2008 and includes Woolworths, Coles, Target, Big W, ALDI, Best & Less and over 105 specialty stores.

Summary Information
GRADE	SUB REGIONAL
OWNERSHIP	100% MPT
GLA	38,340 SQM
CARSPACES	2,011
ACQUISITION DATE	Nov 02
LAST EXTERNAL VALUATION DATE	31 Dec 11
VALUATION AT 31 DEC 12	$133.7m
VALUER	Directors Valuation
CAPITALISATION RATE	7.75%
DISCOUNT RATE	9.50%
CENTRE MAT	$182.8m
SPECIALTY OCCUPANCY COST	15.3%
Major Tenants GLA SQM	Lease Expiry
TARGET 6,796	JUL 20
BIG W 6,770	MAR 27
Lease Expiry Profile % Income
VACANCY 0.7%
FY13 9.2%
FY14 8.1%
FY15 13.7%
FY16 16.0%
FY17 14.6%
BEYOND 37.7%
WALE 4.6 YEARS

PROPERTY COMPENDIUM 31 DECEMBER 2012

MOONEE PONDS CENTRAL

MOONEE PONDS, VIC

==> picture [193 x 122] intentionally omitted <==

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 Kmart, Coles and an ALDI Supermarket as well as 60 specialty stores.

Summary Information
GRADE	SUB REGIONAL
OWNERSHIP	100% MPT
GLA	18,612 SQM
CARSPACES	894
ACQUISITION DATE	May 03 & Feb 08
LAST EXTERNAL VALUATION DATE	30 Jun 12
VALUATION AT 31 DEC 12	$66.7m
VALUER	Directors Valuation
CAPITALISATION RATE	7.75% - 8.50%
DISCOUNT RATE	9.50% - 9.75%
CENTRE MAT	$103.0m
SPECIALTY OCCUPANCY COST	16.7%
Major Tenants GLA SQM	Lease Expiry
KMART 4,728	MAR 24
COLES 4,000	MAY 22
Lease Expiry Profile % Income
VACANCY 3.0%
FY13 0.6%
FY14 14.7%
FY15 13.4%
FY16 18.6%
FY17 11.6%
BEYOND 38.1%
WALE 5.1 YEARS

PROPERTY COMPENDIUM 31 DECEMBER 2012

industrial

industrial

GeOGraPhic DiversificaTiOn[ 1]

==> picture [56 x 41] intentionally omitted <==

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

NSW 89.1%
VIC 4.3%
USA 6.6%
----- End of picture text -----

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

PrOPerTy lOcaTiOn nla % of inDusTiral POrTfOliO BOOK value1	PrOPerTy lOcaTiOn nla % of inDusTiral POrTfOliO BOOK value1	valuaTiOn aT 31 Dec 12
271 LANE COVE ROAD NORTH RYDE, NSW 11,516 sqm	7.0%	$31.3m
10 JULIUS AVENUE NORTH RYDE, NSW 13,341 sqm	12.1%	$53.9m
12 JULIUS AVENUE NORTH RYDE, NSW 7,031 sqm	5.6%	$25.1m
54-60 TALAVERA ROAD NORTH RYDE, NSW 11,323 sqm	10.5%	$47.0m
1-47 PERCIVAL ROAD SMITHFIELD, NSW 22,545 sqm	6.8%	$30.4m
NEXUS INDUSTRY PARK (BUILDING 1) LYN PARADE, PRESTONS, NSW 13,120 sqm	4.4%	$19.4m
NEXUS INDUSTRY PARK (BUILDING 2) LYN PARADE, PRESTONS, NSW 9,709 sqm	3.2%	$14.4m
NEXUS INDUSTRY PARK (BUILDING 3) LYN PARADE, PRESTONS, NSW 17,250 sqm	5.6%	$24.9m
NEXUS INDUSTRY PARK (BUILDING 4) LYN PARADE, PRESTONS, NSW 23,356 sqm	7.8%	$35.0m
NEXUS INDUSTRY PARK (BUILDING 5) LYN PARADE, PRESTONS, NSW 12,339 sqm	3.7%	$16.4m
47-67 WESTGATE DRIVE ALTONA NORTH, VIC 27,081 sqm	4.3%	$19.1m
HOXTON DISTRIBUTION PARK HOXTON PARK, NSW 128,379 sqm	22.4%	$99.6m2
1900-2060 PRATT BOULEVARD CHICAGO ILLINOIS, USA 49,982 sqm	6.6%	$29.4m
TOTAL 346,972 sqm	100.0%	$445.9m1
WEIGHTED AVERAGE LEASE EXPIRY BY INCOME		9.2 YEARS3
OCCUPANCY % AREA		99.4%4

1. BY BOOK VALUE AS AT 31 DECEMBER 2012, EXCLUDES ASSETS UNDER DEVELOPMENT AND INDIRECT INVESTMENTS.

2. BOOK VALUE REPRESENTS MPT’S OWNERSHIP.

3. BY INCOME, EXCLUDING ASSETS UNDER DEVELOPMENT AND INDIRECT INVESTMENTS, BASED ON MPT’S OWNERSHIP.

4. BY AREA, EXCLUDING ASSETS UNDER DEVELOPMENT, BASED ON 100% OF BUILDING NLA.

PROPERTY COMPENDIUM 31 DECEMBER 2012

271 LANE COVE ROAD

NORTH RYDE, NSW

==> picture [193 x 122] intentionally omitted <==

The property is situated adjacent to the Macquarie Park Railway Station on the corner of Lane Cove and Waterloo Roads. The site has development approval for future commercial development.

Summary Information
OWNERSHIP	100% MPT
NLA	11,516 SQM
CARSPACES	289
ACQUISITION DATE	Apr 00
LAST EXTERNAL VALUATION DATE	30 Jun 12
VALUATION AT 31 DEC 12	$31.3m
VALUER	Directors Valuation
CAPITALISATION RATE	8.25%
DISCOUNT RATE	9.50%
Major Tenants NLA SQM	Lease Expiry
FOXTEL 6,718	MAR 18
WORK ARENA 3,355	MAY 18
Lease Expiry Profile % Income
VACANCY 8.8%
FY13 4.7%
FY14 0.0%
FY15 0.0%
FY16 0.0%
FY17 0.0%
BEYOND 86.5%
WALE 4.6 YEARS

PROPERTY COMPENDIUM 31 DECEMBER 2012

10 JULIUS AVENUE

NORTH RYDE, NSW

==> picture [193 x 122] intentionally omitted <==

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 North Ryde Railway Station.

Summary Information
OWNERSHIP	100% MPT
NLA	13,341 SQM
CARSPACES	459
ACQUISITION DATE	Dec 09
LAST EXTERNAL VALUATION DATE	30 Jun 11
VALUATION AT 31 DEC 12	$53.9m
VALUER	Directors Valuation
CAPITALISATION RATE	8.50%
DISCOUNT RATE	9.25%
Major Tenants NLA SQM	Lease Expiry
BOC GASES 8,993	NOV 15
SYNTHES AUSTRALIA 2,355	MAY 16
Lease Expiry Profile % Income
VACANCY 2.6%
FY13 0.0%
FY14 0.0%
FY15 0.0%
FY16 86.0%
FY17 7.5%
BEYOND 3.9%
WALE 3.2 YEARS

PROPERTY COMPENDIUM 31 DECEMBER 2012

12 JULIUS AVENUE

NORTH RYDE, NSW

==> picture [193 x 122] intentionally omitted <==

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 North Ryde Railway Station.

Summary Information
OWNERSHIP	100% MPT
NLA	7,031 SQM
CARSPACES	189
ACQUISITION DATE	Dec 09
LAST EXTERNAL VALUATION DATE	30 Jun 11
VALUATION AT 31 DEC 12	$25.1m
VALUER	Directors Valuation
CAPITALISATION RATE	8.50%
DISCOUNT RATE	9.25%
Major Tenants NLA SQM	Lease Expiry
REVLON AUSTRALIA 2,551	OCT 14
REXEL GROUP 2,217	APR 20
Lease Expiry Profile % Income
VACANCY 3.6%
FY13 4.5%
FY14 0.0%
FY15 44.3%
FY16 7.8%
FY17 0.2%
BEYOND 39.6%
WALE 4.0 YEARS

PROPERTY COMPENDIUM 31 DECEMBER 2012

54-60 TALAVERA ROAD

NORTH RYDE, NSW

==> picture [193 x 122] intentionally omitted <==

Located 16 km north-west of the Sydney CBD and 1 km from Macquarie Park Railway Station, the property is positioned on a prominent corner site at the junction of Talavera and Khartoum Roads.

Summary Information
OWNERSHIP	100% MPT
NLA	11,323 SQM
CARSPACES	128
ACQUISITION DATE	Aug 10
LAST EXTERNAL VALUATION DATE	31 Dec 12
VALUATION AT 31 DEC 12	$47.0m
VALUER	Colliers International
CAPITALISATION RATE	7.50%
DISCOUNT RATE	9.25%
Major Tenants NLA SQM	Lease Expiry
WESTPAC 11,323	APR 25
Lease Expiry Profile % Income
VACANCY 0.0%
FY13 0.0%
FY14 0.0%
FY15 0.0%
FY16 0.0%
FY17 0.0%
BEYOND 100.0%
WALE 12.3 YEARS

PROPERTY COMPENDIUM 31 DECEMBER 2012

1-47 PERCIVAL ROAD

SMITHFIELD, NSW

==> picture [193 x 122] intentionally omitted <==

This property fronts the Cumberland Highway at Smithfield and provides direct access to the M4 Mortorway. A new office / warehouse was designed and constructed for Sandvik in 2002. The two original buildings have undergone partial refurbishment. A new building was completed by Mirvac for Sandvik in June 2010.

Summary Information
OWNERSHIP	100% MPT
NLA	22,545 SQM
CARSPACES	207
ACQUISITION DATE	Nov 02
LAST EXTERNAL VALUATION DATE	31 Dec 11
VALUATION AT 31 DEC 12	$30.4m
VALUER	Directors Valuation
CAPITALISATION RATE	8.25%
DISCOUNT RATE	9.75%
Major Tenants NLA SQM	Lease Expiry
SANDVIK AUSTRALIA 17,108	JUN 22
CLARK EQUIPMENT SALES 5,437	FEB 17
Lease Expiry Profile % Income
VACANCY 0.0%
FY13 0.0%
FY14 0.0%
FY15 0.0%
FY16 0.0%
FY17 21.3%
BEYOND 78.7%
WALE 8.4 YEARS

PROPERTY COMPENDIUM 31 DECEMBER 2012

NEXUS INDUSTRY PARK (BUILDING 1), LYN PARADE PRESTONS, NSW

==> picture [193 x 122] intentionally omitted <==

Developed by Mirvac, this building was purpose built for Atlas Steel in 2006 and adjoins four other industrial facilities developed on the former Liverpool Showground site. The site has excellent exposure and access to the M5 and M7 Motorways.

Summary Information
OWNERSHIP	100% MPT
NLA	13,120 SQM
CAR SPACES	125
ACQUISITION DATE	Aug 04
LAST EXTERNAL VALUATION DATE	30 Jun 11
VALUATION AT 31 DEC 12	$19.4m
VALUER	Directors Valuation
CAPITALISATION RATE	8.00%
DISCOUNT RATE	9.50%
Major Tenants NLA SQM	Lease Expiry
ATLAS STEEL (AUSTRALIA) 13,120	APR 21
Lease Expiry Profile % Income
VACANCY 0.0%
FY13 0.0%
FY14 0.0%
FY15 0.0%
FY16 0.0%
FY17 0.0%
BEYOND 100.0%
WALE 8.3 YEARS

PROPERTY COMPENDIUM 31 DECEMBER 2012

NEXUS INDUSTRY PARK (BUILDING 2), LYN PARADE

PRESTONS, NSW

==> picture [193 x 122] intentionally omitted <==

Developed by Mirvac, this building was purpose built for NatSteel Australia in 2006 and adjoins four other industrial facilities developed on the former Liverpool Showground site. The site has excellent exposure and access to the M5 and M7 Motorways.

Summary Information
OWNERSHIP	100% MPT
NLA	9,709 SQM
CARSPACES	70
ACQUISITION DATE	Aug 04
LAST EXTERNAL VALUATION DATE	31 Dec 12
VALUATION AT 31 DEC 12	$14.4m
VALUER	CB Richard Ellis
CAPITALISATION RATE	8.00%
DISCOUNT RATE	9.50%
Major Tenants NLA SQM	Lease Expiry
NATSTEEL AUSTRALIA 9,709	NOV 13
Lease Expiry Profile % Income
VACANCY 0.0%
FY13 0.0%
FY14 100%
FY15 0.0%
FY16 0.0%
FY17 0.0%
BEYOND 0.0%
WALE 0.9 YEARS

PROPERTY COMPENDIUM 31 DECEMBER 2012

NEXUS INDUSTRY PARK (BUILDING 3), LYN PARADE

PRESTONS, NSW

==> picture [193 x 122] intentionally omitted <==

Developed by Mirvac, this building was built in 2007 and adjoins four other industrial facilities developed on the former Liverpool Showground site. The site has excellent exposure and access to the M5 and M7 Motorways.

Summary Information
OWNERSHIP	100% MPT
NLA	17,250 SQM
CARSPACES	163
ACQUISITION DATE	Aug 04
LAST EXTERNAL VALUATION DATE	30 Jun 11
VALUATION AT 31 DEC 12	$24.9m
VALUER	Directors Valuation
CAPITALISATION RATE	8.00%
DISCOUNT RATE	9.50%
Major Tenants NLA SQM	Lease Expiry
DE'LONGHI AUSTRALIA 17,250	FEB 18
Lease Expiry Profile % Income
VACANCY 0.0%
FY13 0.0%
FY14 0.0%
FY15 0.0%
FY16 0.0%
FY17 0.0%
BEYOND 100.0%
WALE 5.2 YEARS

PROPERTY COMPENDIUM 31 DECEMBER 2012

NEXUS INDUSTRY PARK (BUILDING 4), LYN PARADE

PRESTONS, NSW

==> picture [193 x 122] intentionally omitted <==

Developed by Mirvac, this building was purpose built for HPM Legrand Australia in 2011 and adjoins four other industrial facilities developed on the former Liverpool Showground site. The site has excellent exposure and access to the M5 and M7 Motorways.

Summary Information
OWNERSHIP	100% MPT
NLA	23,356 SQM
CARSPACES	212
ACQUISITION DATE	Aug 04
LAST EXTERNAL VALUATION DATE	30 Jun 12
VALUATION AT 31 DEC 12	$35.0m
VALUER	Directors Valuation
CAPITALISATION RATE	8.00%
DISCOUNT RATE	9.50%
Major Tenants NLA SQM	Lease Expiry
HPM LEGRAND AUSTRALIA 23,356	OCT 21
Lease Expiry Profile % Income
VACANCY 0.0%
FY13 0.0%
FY14 0.0%
FY15 0.0%
FY16 0.0%
FY17 0.0%
BEYOND 100.0%
WALE 8.8 YEARS

PROPERTY COMPENDIUM 31 DECEMBER 2012

NEXUS INDUSTRY PARK (BUILDING 5), LYN PARADE PRESTONS, NSW

==> picture [193 x 122] intentionally omitted <==

Developed by Mirvac in 2008 and adjoins four other industrial facilities developed on the former Liverpool Showground site. The site has excellent exposure and access to the M5 and M7 Motorways.

Summary Information
OWNERSHIP	100% MPT
NLA	12,339 SQM
CARSPACES	103
ACQUISITION DATE	Aug 04
LAST EXTERNAL VALUATION DATE	31 Dec 12
VALUATION AT 31 DEC 12	$16.4m
VALUER	CB Richard Ellis
CAPITALISATION RATE	8.00%
DISCOUNT RATE	9.50%
Major Tenants NLA SQM	Lease Expiry
AUSTRALIAN BRUSHWARE 12,339	MAR 22
Lease Expiry Profile % Income
VACANCY 0.0%
FY13 0.0%
FY14 0.0%
FY15 0.0%
FY16 0.0%
FY17 0.0%
BEYOND 100.0%
WALE 9.3 YEARS

PROPERTY COMPENDIUM 31 DECEMBER 2012

47-67 WESTGATE DRIVE

ALTONA NORTH, VIC

==> picture [193 x 122] intentionally omitted <==

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

Summary Information
OWNERSHIP	100% MPT
NLA	27,081 SQM
CAR SPACES	183
ACQUISITION DATE	Dec 09
LAST EXTERNAL VALUATION DATE	31 Dec 11
VALUATION AT 31 DEC 12	$19.1m
VALUER	Directors Valuation
CAPITALISATION RATE	9.75%
DISCOUNT RATE	10.0%
Major Tenants NLA SQM	Lease Expiry
PACIFIC BRANDS 27,081	APR 14
Lease Expiry Profile % Income
VACANCY 0.0%
FY13 0.0%
FY14 100%
FY15 0.0%
FY16 0.0%
FY17 0.0%
BEYOND 0.0%
WALE 1.3 YEARS

PROPERTY COMPENDIUM 31 DECEMBER 2012

HOXTON DISTRIBUTION PARK

HOXTON PARK, NSW

==> picture [193 x 122] intentionally omitted <==

Hoxton Distribution Park is one of Australiaʼs largest industrial developments and includes two state-of-the-art logistics facilities. The two logistic facilities comprise areas of 43,469 square metres and 84,910 square metres with lease terms of 20 and 25 years respectively. Both facilities are 100 per cent leased to Woolworths Limited.

Summary Information
OWNERSHIP	50% MPT, 50% AVIVA
NLA	128,379 SQM
CAR SPACES	-
ACQUISITION DATE	Jul 10
LAST EXTERNAL VALUATION DATE	30 Jun 12
VALUATION AT 31 DEC 12	$99.6m1
VALUER	Directors Valuation
CAPITALISATION RATE	7.50%
DISCOUNT RATE	9.25%
Major Tenants NLA SQM	Lease Expiry
WOOLWORTHS (BIG W) 84,910	FEB 37
WOOLWORTHS (DICK SMITH) 43,469	JAN 32
Lease Expiry Profile % Income
VACANCY 0.0%
FY13 0.0%
FY14 0.0%
FY15 0.0%
FY16 0.0%
FY17 0.0%
BEYOND 100.0%
WALE 21.6 YEARS

1. REPRESENTS MPT'S OWNERSHIP.

PROPERTY COMPENDIUM 31 DECEMBER 2012

1900-2060 PRATT BOULEVARD

CHICAGO, ILLINOIS, USA

==> picture [193 x 122] intentionally omitted <==

The Chicago Metropolitan area is the largest industrial market in the USA and this versatile 49,982 sqm industrial facility is located adjacent to the OʼHare International Airport, the second busiest airport in the world. The property is 1 currently leased and also provides a medium-term redevelopment opportunity.

Summary Information
OWNERSHIP	100% MPT
NLA	49,982 SQM
CARSPACES	1,638
ACQUISITION DATE	Dec 07
LAST EXTERNAL VALUATION DATE	31 Dec 11
VALUATION AT 30 JUN 12	$29.4m
VALUER	Directors Valuation
CAPITALISATION RATE	7.50%
DISCOUNT RATE	9.25%
Major Tenants NLA SQM	Lease Expiry
CLEAR LAM 49,982	APR 21
Lease Expiry Profile % Income
VACANCY 0.0%
FY13 0.0%
FY14 0.0%
FY15 0.0%
FY16 0.0%
FY17 0.0%
BEYOND 100.0%
WALE 8.3 YEARS

1. SUBJECT TO REGULATORY AUTHORITY APPROVAL.

PROPERTY COMPENDIUM 31 DECEMBER 2012

hotel

hotel

PrOPerTy lOcaTiOn OWnershiP rOOMs	PrOPerTy lOcaTiOn OWnershiP rOOMs	BOOK value
THE COMO MELBOURNE SOUTH YARRA, VIC 100% MPT	107	$26.0m
TOTAL	107	$26.0m

PROPERTY COMPENDIUM 31 DECEMBER 2012

THE COMO MELBOURNE

SOUTH YARRA, VIC

==> picture [193 x 122] intentionally omitted <==

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. A full refurbishment of all 107 rooms was completed in September 2012.

Summary Information
OWNERSHIP	100% MPT
NO OF ROOMS	107
OCCUPANCY	76.3%
AVERAGE ROOM RATE	$227
STAR RATING	5 STAR
ACQUISITION DATE	Aug 98
LAST EXTERNAL VALUATION DATE	30 Jun 11
VALUATION AT 31 DEC 12	$26.0m
VALUER	Directors Valuation
CAPITALISATION RATE	7.75%
DISCOUNT RATE	9.75%

PROPERTY COMPENDIUM 31 DECEMBER 2012

Parking

Parking

PrOPerTy lOcaTiOn OWnershiP car sPaces % Of ParKinG POrTfOliO BOOK value BOOK value	PrOPerTy lOcaTiOn OWnershiP car sPaces % Of ParKinG POrTfOliO BOOK value BOOK value	PrOPerTy lOcaTiOn OWnershiP car sPaces % Of ParKinG POrTfOliO BOOK value BOOK value	PrOPerTy lOcaTiOn OWnershiP car sPaces % Of ParKinG POrTfOliO BOOK value BOOK value
QUAY WEST SYDNEY, NSW 100%	598	39.1%	$29.6m
THE COMO CENTRE SOUTH YARRA, VIC 100%	629	29.7%	$22.5m
RIVERSIDE QUAY SOUTHBANK, VIC 100%	560	31.2%	$23.6m
TOTAL	1,787	100%	$75.7m

PROPERTY COMPENDIUM 31 DECEMBER 2012

QUAY WEST CAR PARK, 109-111 HARRINGTON STREET

SYDNEY, NSW

==> picture [193 x 122] intentionally omitted <==

An eight level commercial car park comprising 598 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 5 star hotels. Two retail outlets are also incorporated at street level.

Summary Information
OWNERSHIP	100% MPT
CARSPACES NUMBER OF BAYS	598
ACQUISITION DATE	Nov 89
LAST EXTERNAL VALUATION DATE	30 Jun 11
VALUATION AT 31 DEC 12	$29.6m
VALUER	Directors Valuation
CAPITALISATION RATE	8.50%
DISCOUNT RATE	10.00%

PROPERTY COMPENDIUM 31 DECEMBER 2012

THE COMO CENTRE CAR PARK, CHAPEL STREET

SOUTH YARRA, VIC

==> picture [193 x 122] intentionally omitted <==

A multi-level car park comprising 629 spaces services the Como Centre complex including office, hotel, cinemas and retail.

Summary Information
OWNERSHIP	100% MPT
CARSPACES NUMBER OF BAYS	629
ACQUISITION DATE	Aug 98
LAST EXTERNAL VALUATION DATE	30 Jun 11
VALUATION AT 31 DEC 12	$22.5m
VALUER	Directors Valuation
CAPITALISATION RATE	8.75%
DISCOUNT RATE	9.75%

PROPERTY COMPENDIUM 31 DECEMBER 2012

RIVERSIDE QUAY CAR PARK

SOUTHBANK, VIC

==> picture [193 x 122] intentionally omitted <==

A seperate building at the rear of the Riverside Quay commercial complex providing a 560 space car park to the adjoining office buildings and surrounding Southbank precinct.

Summary Information
OWNERSHIP	100% MPT
CARSPACES NUMBER OF BAYS	560
ACQUISITION DATE	Apr 02
LAST EXTERNAL VALUATION DATE	31 Dec 11
VALUATION AT 31 DEC 12	$23.6m
VALUER	Directors Valuation
CAPITALISATION RATE	8.00%
DISCOUNT RATE	10.00%

PROPERTY COMPENDIUM 31 DECEMBER 2012

investment Management

invesTMenT ManaGeMenT

WhOlesale	funDs unDer ManaGeMenT
	$816.6 MilliOn
funDs
TRAVELODGE GROUP	AUSTRALIAN SUSTAINABLE FORESTRY INVESTORS
MIRVAC WHOLESALE RESIDENTIAL DEVELOPMENT PARTNERSHIP	JF INFRASTRUCTURE YIELD FUND
reTail	funDs unDer ManaGeMenT $274.3 MilliOn
lisTeD	unlisTeD
MIRVAC INDUSTRIAL TRUST	MIRVAC DEVELOPMENT FUND – SEASCAPES
	MIRVAC DEVELOPMENT FUND – MEADOW SPRINGS
JOinT venTures / inTernaTiOnal	funDs unDer ManaGeMenT $6,110.5 MilliOn
QUADRANT REAL ESTATE ADVISORS

invesTMenT ManaGeMenT / WhOlesale

TravelODGe GrOuP
fOcus	fuM ($M)1	nO Of invesTOrs
Wholesale	414.8	2

The Travelodge Group is a sector specific wholesale fund established in March 2005 and focuses on the 3 to 3.5 star hotel market in Australia and New Zealand. The portfolio comprises 13 hotels and 2,048 rooms with a value of $390.8 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.mirvacinvestmentmanagement.com/travelodgegroup.

Mirvac WhOlesale resiDenTial DevelOPMenT ParTnershiP

fOcus	fuM ($M)2	nO Of invesTOrs
Wholesale	287.5	4

The Mirvac Wholesale Residential Development Partnership is a closed-end vehicle that has acquired 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 2,221 lots and 1,150 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.

ausTralian susTainaBle fOresTy invesTOrs

fOcus	fuM ($M)1	nO Of invesTOrs
Wholesale	55.8	3
The principal activity of the Fund is rental income from the investment in 20,552 hectares of freehold forestry land in Victoria,
SA and WA .
Jf infasTrucTure yielD funD
fOcus	fuM ($M)1	nO Of invesTOrs
Wholesale	58.5	36

The principal activity of the Fund is the investment in equity and quasi-equity/mezzanine debt of Australian unlisted property related infrastructure assets, comprising semi-mature and mature assets.

PROPERTY COMPENDIUM 31 DECEMBER 2012

invesTMenT ManaGeMenT / lisTeD

Mirvac inDusTrial TrusT

fOcus	fuM ($M)3, 4	nO Of invesTOrs
Retail	227.4	1,636

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

invesTMenT ManaGeMenT / unlisTeD

Mirvac DevelOPMenT funDs – seascaPes & MeaDOW sPrinGs
fOcus	fuM ($M)1	nO Of invesTOrs
Retail	46.9	440

At 31 December 2012, Mirvac Investment Management had two active unlisted funds.

Details of the unlisted fund portfolio are available from www.mirvacinvestmentmanagement.com.

invesTMenT ManaGeMenT / Jv inTernaTiOnal

QuaDranT real esTaTe aDvisOrs
fOcus	fuM ($M)5,6
Wholesale funds	110.2
Mandates	6,000.3

Quadrant Real Estate Advisors, LLC has offices in the United States (Atlanta, Georgia) and in Sydney. Quadrant provides institutional investors a full range of commercial real estate advisory services across the public and private, debt and equity sectors.

As at 31 December 2012, Quadrant has approximately A$6.1 billion[5] of commercial and multi-family real estate assets under management.

1. SUBJECT TO FINAL AUDIT AND BOARD APPROVAL.

2. THE FUM NUMBER REPRESENTS CONTRIBUTED EQUITY.

3. AS AT 30 JUNE 2012.

4. FOR FURTHER INFORMATION REFER TO THE ASX ANNOUNCEMENTS MADE DURING THE YEAR.

5. BEFORE ADJUSTING FOR JOINT VENTURE INTERESTS.

6. AUD/USD DECEMBER 2012 MONTH END RATE OF 1.0384.

PROPERTY COMPENDIUM 31 DECEMBER 2012

Development

==> picture [522 x 354] intentionally omitted <==

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

by mirvac
$10,875,121,593
RESIDENTIAL
DEVELOPMENT
31,130 LOTS
Artist Impression of Era, Chatswood, NSW
----- End of picture text -----

Mirvac is one of the leading brands in the Australian development and construction industry and has a proven track record of delivering innovative and quality products that exceed customers’ expectations and lead the market. For over 40 years, Mirvac has produced some of Australia’s most renowned residential projects including Walsh Bay in Sydney, NSW; Ephraim Island on the Gold Coast, QLD; Yarra’s Edge, VIC; and The Peninsula at Burswood in Perth, WA.

PROPERTY COMPENDIUM 31 DECEMBER 2012

Development

==> picture [133 x 21] intentionally omitted <==

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

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

residential pipeline

==> picture [364 x 122] intentionally omitted <==

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

FOrecast revenue LOts unDer cOntrOL
$10.9 BILLIOn 31,130 LOts
NSW 45.3% NSW 37.9%
VIC 31.2% VIC 39.9%
WA 10.2% WA 12.0%
QLD 12.4% QLD 10.2%
----- End of picture text -----

residential Forecast revenue

==> picture [364 x 164] intentionally omitted <==

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

MIrvac share FOrecast revenue hOuse anD LanD
$7.9 BILLIOn $4.2 BILLIOn
NSW 39.4% NSW 34.5%
VIC 34.7% VIC 36.4%
WA 10.5% WA 13.3%
QLD 15.4% QLD 15.8%
apartMents
$3.7 BILLIOn
----- End of picture text -----

==> picture [58 x 58] intentionally omitted <==

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

NSW 45.1%
VIC 32.7%
WA 7.2%
QLD 15.0%
----- End of picture text -----

==> picture [85 x 88] intentionally omitted <==

PROPERTY COMPENDIUM 31 DEC 2012

Development

==> picture [93 x 16] intentionally omitted <==

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

new south Wales
----- End of picture text -----

==> picture [255 x 122] intentionally omitted <==

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

Mirvac share fOrecasT revenue lOTs unDer cOnTrOl
$3.1 BilliOn 11,752
Houses / Land 47.0% Houses / Land 69.0%
Apartments 53.0% Apartments 31.0%
in Progress
----- End of picture text -----

											PRoJECt PERioD	PRoJECt PERioD
								SEttLEMENt DAtE1		CURRENt PRiCE RANGE	(CALENDER YEAR)
			PRoJECt
	ACQUiSitioN		VALUE	totAL									CoNStRUCtioN
PRoPERtiES	DAtE	LoCAtioN	(iNC GSt)	LotS	RELEASED	EXCHANGED	SEttLED	FRoM	to	FRoM to	FRoM	to	PRoGRESS2	DESCRiPtioN	oWNERSHiP StRUCtURE
Chatswood, Era	Jun 08	Chatswood	$324.4m	294	294	288	0	Mar 14	May 15	$495,000 $3,275,000	Early 2011	Mid 2015	**35% **	Apartments	100% Mirvac Limited
Elizabeth Hills	Sep 07	Elizabeth Hills	$106.5m	379	277	179	156	Mar 12	oct 15	$260,000 $737,500	Early 2010	Late 2015		Residential estate	PDA with landcom
Stage 1			$25.7m	100	97	89	88	Mar 12	Oct 15	$299,000 $550,000	Early 2010	Late 2015	100%
Stage 2			$31.1m	76	36	12	0	Mar 13	Jun 14	$344,000 $548,000	Mid 2010	Mid 2014	60%
Stage 3			$29.4m	117	117	77	68	Jun 12	Mar 13	$260,000 $550,000	Mid 2010	Early 2013	100%
Stage 4			$20.3m	86	27	1	0	Apr 13	Nov 13	$260,000 $405,000	Mid 2010	Late 2013	50%
Elizabeth Point (Prev Hoxton Park)	Dec 10	Elizabeth Hills	$35.0m	100	42	7	1	Jun 12	Jul 15	$220,000 $4,664,000	Early 2010	Mid 2016		Land lots	100% Mirvac Limited
Completed Stages			$5.2m	1	1	1	1	Jun 12	Jun 12	$4,664,000 $4,664,000	Early 2010	Mid 2012	100%
Stage 1			$12.1m	41	41	6	0	Jan 13	Sep 13	$220,000 $315,000	Early 2010	Late 2013	100%
Stage 2			$17.6m	58	0	0	0	May 13	Jul 15	$220,000 $315,000	Early 2010	Mid 2015	25%
Endeavour 88	Apr 03	Coogee	$216.1m	141	141	141	141	Mar 11	oct 12	$1,195,000 $1,866,600	Late 2009	Late 2012	100%	Houses	100% Mirvac Limited
Fletcher	Dec 07	Fletcher	$41.7m	271	203	183	171	Nov 08	Sep 14	$145,000 $516,500	Late 2007	Late 2014		Retail lots with contract housing	PDA with Kingston Fletcher
Completed Stages			$1.1m	3	3	3	3	Jul 09	May 10	$350,000 $360,000	Late 2007	Mid 2014	100%
Fletcher Project			$40.7m	268	200	180	168	Nov 08	Sep 14	$145,000 $516,500	Late 2007	Late 2014	81%
Gillieston	Jul 06	Gillieston	$91.9m	430	227	204	192	Mar 08	oct 17	$135,000 $545,000	Early 2007	Late 2017		Residential estate	100% Mirvac Limited
Completed Stages			$5.0m	11	11	11	11	Jul 09	May 12	$395,000 $545,000	Early 2007	Late 2017	100%
Stage 1			$86.8m	419	216	193	181	Mar 08	Oct 17	$135,000 $447,500	Early 2008	Late 2017	62%

PROPERTY COMPENDIUM 31 DEC 2012

Development new south Wales

											PRoJECt PERioD	PRoJECt PERioD
								SEttLEMENt DAtE1		CURRENt PRiCE RANGE	(CALENDER YEAR)
			PRoJECt
	ACQUiSitioN		VALUE	totAL									CoNStRUCtioN
PRoPERtiES	DAtE	LoCAtioN	(iNC GSt)	LotS	RELEASED	EXCHANGED	SEttLED	FRoM	to	FRoM to	FRoM	to	PRoGRESS2	DESCRiPtioN	oWNERSHiP StRUCtURE
Panorama	Jun 01	Glenfield	$287.5m	788	592	570	532	Dec 05	Apr 15	$239,000 $1,664,000	Mid 2001	Mid 2015		Mix of residential lots and spec housing	100% Mirvac Limited
Completed Stages			$100.3m	308	308	308	308	Dec 05	Jul 11	$254,000 $1,664,000	Mid 2001	Mid 2011	100%
Stage 1D			$5.7m	19	9	1	0	Jun 13	Jun 14	$265,000 $410,000	Mid 2001	Mid 2014	1%
Stage 2A			$52.2m	134	131	131	131	Jun 10	Jan 14	$239,000 $509,000	Mid 2001	Early 2014	100%
Stage 2B			$24.9m	71	62	60	50	Aug 11	Jun 13	$245,000 $509,000	Mid 2001	Mid 2013	100%
Stage 3A			$31.8m	77	8	8	8	Sep 12	Sep 14	$245,000 $475,000	Mid 2001	Late 2014	1%
Stage 3B			$24.1m	58	0	0	0	Oct 13	Jan 15	$250,000 $480,000	Mid 2001	Early 2015	1%
Stage 3D			$18.8m	46	0	0	0	Oct 13	Apr 15	$290,000 $480,000	Mid 2012	Early 2015	1%
Stage 5			$29.6m	75	74	62	35	Jul 12	Jun 13	$251,000 $408,000	Mid 2011	Mid 2013	81%
Googong	Dec 11	Googong	$85.7m	337	294	230	0	Aug 13	Mar 14	$130,000 $595,000	Late 2011	Early 2014	**40% **	Mix of residential lots	JV with CiC Australia Ltd
Stage 1			$85.7m	337	294	230	0	Aug 13	Mar 14	$130,000 $595,000	Late 2011	Early 2014	40%
Harold Park	Dec 10	Glebe	$450.4m	482	408	324	0	May 14	Nov 14	$499,000 $1,895,000	Late 2012	Late 2014		Apartments and terraces	100% Mirvac Limited
Precinct 1			$261.2m	298	298	247	0	May 14	Oct 14	$499,000 $1,660,000	Late 2012	Late 2014	5%
Precinct 2			$189.2m	184	110	77	0	Jul 14	Nov 14	$499,000 $1,895,000	Early 2013	Late 2014	0%
Middleton Grange	Dec 10	Middleton Grange	$160.0m	486	461	418	391	Jul 09	oct 13	$178,000 $665,000	Late 2007	Late 2013		Residential	100% Mirvac Limited
Completed Stages			$16.6m	41	41	41	41	Jul 09	Apr 12	$220,000 $665,000	Late 2007	Mid 2013	100%
Stage 1A			$6.3m	20	16	16	16	Jan 11	Jun 13	$178,000 $410,000	Late 2010	Mid 2013	100%
Stage 3			$26.7m	67	67	66	66	Jan 11	Mar 13	$189,000 $470,000	Late 2010	Early 2013	100%
Stage 4			$49.5m	141	141	138	138	Jun 11	Apr 13	$214,000 $440,000	Late 2010	Early 2013	100%
Stage 5			$25.9m	85	85	80	77	Mar 12	Mar 13	$214,000 $480,000	Late 2010	Early 2013	100%
Stage 6			$34.9m	132	111	77	53	Sep 12	Oct 13	$217,000 $416,000	Late 2010	Late 2013	85%
Newbury Estate	Dec 99	Stanhope Gardens	$229.5m	1,761	1,761	1,759	1,724	Jun 02	Nov 13	$150,000 $560,000	Mid 2000	Late 2013		Mix of residential and retail lots	PDA with Landcom
Completed Stages			$198.2m	1,641	1,641	1,641	1,641	Jun 02	Apr 10	$150,000 $560,000	Mid 2000	Early 2010	100%
Stanhope Gardens Land 8			$31.4m	120	120	118	83	Jun 11	Nov 13	$320,000 $550,000	Early 2010	Late 2013	75%
															100% MWRDP
Rhodes Waterside MWRDP	Jan 073	Rhodes	$650.6m	936	936	883	703	May 08	Sep 14	$361,000 $1,500,000	Late 2006	Late 2014		Apartments	(Mirvac Limited 20% equity interest)
Completed Stages			$476.7m	703	703	703	703	May 08	Aug 12	$361,000 $1,425,000	Late 2006	Mid 2012	100%
Stage 5 Pinnacle			$174.0m	233	233	180	0	Oct 13	Sep 14	$420,000 $1,500,000	Mid 2011	Late 2014	44%

PROPERTY COMPENDIUM 31 DEC 2012

Development

new south Wales

											PRoJECt PERioD	PRoJECt PERioD
								SEttLEMENt DAtE1		CURRENt PRiCE RANGE	(CALENDER YEAR)
			PRoJECt
	ACQUiSitioN		VALUE	totAL									CoNStRUCtioN
PRoPERtiES	DAtE	LoCAtioN	(iNC GSt)	LotS	RELEASED	EXCHANGED	SEttLED	FRoM	to	FRoM to	FRoM	to	PRoGRESS2	DESCRiPtioN	oWNERSHiP StRUCtURE
Spring Farm	Jun 08	Spring Farm	$121.4m	449	329	302	302	oct 08	Dec 14	$142,000 $460,000	Mid 2006	Mid 2015		Residential estate	100% Mirvac Limited
Completed Stages			$0.5m	1	1	1	1	Jan 00	Jun 10	$450,000 $450,000	Mid 2008	Mid 2010	100%
Stage 1			$38.0m	123	123	121	121	Oct 08	Mar 13	$175,000 $410,000	Mid 2008	Early 2013	100%
Stage 2A			$15.5m	56	56	53	53	Nov 09	Jun 13	$167,000 $369,950	Mid 2008	Mid 2013	100%
Stage 2B			$15.3m	47	47	46	46	Sep 10	Mar 13	$163,000 $390,000	Mid 2008	Early 2013	100%
Stage 2C			$9.4m	29	29	25	25	Apr 11	Mar 13	$175,000 $350,000	Mid 2008	Early 2013	100%
Stage 3			$15.4m	70	59	42	42	Jun 12	Jul 13	$160,000 $419,000	Mid 2008	Mid 2013	100%
Stage 4			$19.4m	90	11	11	11	Jun 12	Aug 14	$162,000 $400,000	Mid 2008	Mid 2014	5%
Stage 5			$7.9m	33	3	3	3	Jun 12	Dec 14	$142,000 $365,000	Mid 2008	Late 2014	1%
Spring Farm JV	May 01	Spring Farm	$5.3m	61	61	61	61	Jul 12	Jul 12	$5,280,000 $5,280,000	Mid 2001	Mid 2012	100%	Residential estate	Englobo - JV with Cornish Group
the Royal	Jun 07	Newcastle	$153.9m	167	167	159	159	Apr 10	Nov 13	$277,500 $4,495,000	Mid 2007	Late 2013	100%	Apartments	100% Mirvac Limited
Stage 1A			$82.8m	94	94	89	89	Apr 10	Nov 13	$277,500 $3,100,000	Mid 2007	Late 2013	100%
Stage 1B			$71.1m	73	73	70	70	Oct 10	Nov 13	$345,679 $4,495,000	Mid 2007	Late 2013	100%

Proposed

PRoJECt PERioD (CALENDER YEAR)	PRoJECt PERioD (CALENDER YEAR)
PRoPERtY	ACQUiSitioN DAtE PRoJECt VALUE (iNC GSt) LoCAtioN totAL LotS FRoM to DESCRiPtioN oWNERSHiP StRUCtURE
Alex Avenue (the Avenue) Jul 12 $94.2m Schofields 259 Feb 12 Jul 15 Mix of residential lots and spec housing 100% Mirvac Limited
Elizabeth Hills Sep 07 $64.9m Elizabeth Hills 268 Aug 10 Sep 15 Mix of residential lots and spec housing PDA with Landcom
Elizabeth Point (Prev Hoxton Park) Dec 10 $48.8m Elizabeth Hills 145 Jan 10 May 16 Mix of residential lots and spec housing 100% Mirvac Limited
Glenfield (Parkside) Sep 12 $8.1m Glenfield 25 Aug 11 Mar 15 Mix of residential lots and spec housing 100% Mirvac Limited
Googong Dec 11 $1,744.7m Googong 5,580 Dec 11 Apr 33 Masterplanned residential estate JV with CiC Australia Ltd
Green Square Feb 12 $1,248.8m Mascot 1,927 Mar 12 Jun 27 Apartments with mixed use JV with Leighton Properties and Landcom
Harold Park Dec 10 $678.8m inner West 697 Jun 13 Dec 17 Apartments and terraces 100% Mirvac Limited
New Brighton Golf Course Dec 10 $117.1m New Brighton 294 Dec 10 Mar 18 integrated housing PDA with New Brighton Golf Club

1. SETTLEMENT DATE MAY VARY AS CIRCUMSTANCES CHANGE.

2. CONSTRUCTION PROGRESS AS A PERCENTAGE OF COST. WHICH INCLUDES LAND SUBDIVISION BUT NOT LAND ACQUISITION.

3. TRANSACTION DATE.

PROPERTY COMPENDIUM 31 DECEMBER 2012

CHATSWOOD ERA, 7 RAILWAY STREET CHATSWOOD, NSW

==> picture [193 x 122] intentionally omitted <==

ERA is the final stage of the Pacific Place mixed-use development in Chatswood, located 8kms north of Sydney's CBD. The development is a 42 storey building containing 294 apartments, 4,900 sqm of office space, 7 basement levels and landscaped public and private open space.

Summary Information - In Progress
ACQUISITION DATE	JUN 08
LOCATION	CHATSWOOD
PROJECT VALUE (INCL. GST)	$324.4M
TOTAL LOTS	294
PROJECT PERIOD (CALENDAR YEAR)	EARLY 2011 - MID 2015
OWNERSHIP STRUCTURE	100% MIRVAC LIMITED

Project Update

Structure is complete to level 25. Internal fit-outs are substantially progressed to level 12 and services installation is complete to level 20. Project completion is expected in FY 2014.

PROPERTY COMPENDIUM 31 DECEMBER 2012

ELIZABETH HILLS, CNR OF STIRLING & FEODORE DRIVE CECIL HILLS, NSW

==> picture [187 x 119] intentionally omitted <==

Elizabeth Hills is located on the eastern side of the M7 motorway adjacent to the established suburb of Cecil Hills, a highly desirable neighbourhood 10 minutes from the Liverpool CBD. The 56Ha estate is being developed under a PDA with Landcom creating a masterplanned community to be delivered in 6 stages with a diverse range of lot sizes and medium density product.

Summary Information - In Progress	Summary Information - In Progress
ACQUISITION DATE		SEP 07
LOCATION		ELIZABETH HILLS
PROJECT VALUE (INCL. GST)		$106.5M
TOTAL LOTS		379
PROJECT PERIOD (CALENDAR YEAR)		EARLY 2010 - LATE 2015
OWNERSHIP STRUCTURE		PDA WITH LANDCOM
	Project Update

Stage 1 and 3 are complete and sales continue to be strong. Stage 2 speculative homes have been released off the plan and building works have commenced. Stage 4 was released off the plan in November 2012 and civil works are due for completion in February 2013. Stages 5 and 6 have development consent approved.

PROPERTY COMPENDIUM 31 DECEMBER 2012

ELIZABETH POINT, CNR OF AVIATION ROAD & AIRFIELD DRIVE

CECIL HILLS, NSW

==> picture [193 x 122] intentionally omitted <==

Elizabeth Point is located on the eastern side of the M7 motorway to the south of the Elizabeth Hills development and north of the recently completed Mirvac Hoxton Park Industrial Development.

Summary Information - In Progress
ACQUISITION DATE	DEC 10
LOCATION	ELIZABETH HILLS
PROJECT VALUE (INCL. GST)	$35.0M
TOTAL LOTS	100
PROJECT PERIOD (CALENDAR YEAR)	EARLY 2010 - MID 2016
OWNERSHIP STRUCTURE	100% MIRVAC LIMITED

Project Update

Stage 1 civil works are now complete and released to market. Stage 2 is to be released early 2013 with civil works due for completion in March 2013. Stage 3 has Development Approvals in place and the Stage 4 Development Application is with local council. Rezoning to facilitate Stage 5 is with Department of Planning for review.

PROPERTY COMPENDIUM 31 DECEMBER 2012

ENDEAVOUR 88, MOVERLY ROAD

SOUTH COOGEE, NSW

==> picture [193 x 122] intentionally omitted <==

Endeavour House is a 6.74ha site located on Moverly Road, South Coogee, between Maroubra and Coogee Beaches. Mirvac acquired the land in April 2003 under a five year lease back to the Department of Defence with the intention to develop the land as an integrated housing estate. The Masterplan features a central park with 141 attached and detached homes.

Summary Information - In Progress	Summary Information - In Progress
ACQUISITION DATE		APR 03
LOCATION		COOGEE
PROJECT VALUE (INCL. GST)		$216.1M
TOTAL LOTS		141
PROJECT PERIOD (CALENDAR YEAR)		LATE 2009 - LATE 2012
OWNERSHIP STRUCTURE		100% MIRVAC LIMITED
	Project Update

Project complete, all lots now settled.

PROPERTY COMPENDIUM 31 DECEMBER 2012

FLETCHER, WATERSIDE DRIVE (OFF COUNTY DRIVE) FLETCHER, NSW

==> picture [193 x 122] intentionally omitted <==

Fletcher is located 15km west of the Newcastle CBD and approximately 1.5 hours north of Sydney. The project has Development Approval (DA) from Newcastle City Council. The residential lots are to be developed over 9 stages. Lots vary in size from 470m2 to over 2,000m2 with the average lot size being 790m2 .The entire estate is over 60ha.

Summary Information - In Progress	Summary Information - In Progress
ACQUISITION DATE		DEC 07
LOCATION		FLETCHER
PROJECT VALUE (INCL. GST)		$41.7M
TOTAL LOTS		271
PROJECT PERIOD (CALENDAR DAYS)		LATE 2007 - LATE 2014
OWNERSHIP STRUCTURE		PDA WITH KINGSTON FLETCHER
	Project Update

Civil works for stages 1 - 6 are complete. Stage 7 works are expected to commence early 2013.

PROPERTY COMPENDIUM 31 DECEMBER 2012

GILLIESTON, SADDLER DRIVE (OFF CESSNOCK ROAD)

GILLIESTON HEIGHTS, NSW

==> picture [193 x 122] intentionally omitted <==

Gillieston Heights is located 3km south of Maitland and approximately 1.5 hours north of Sydney, The project received Development Approval (DA) from Maitland City Council in 2006. The residential lots are to be developed over 10 stages.

Lots currently vary in size from 450m2 to over 1,200m2 with the average lot size being 650m2 . The entire estate is over 70ha.

Summary Information - In Progress	Summary Information - In Progress
ACQUISITION DATE		JUL 06
LOCATION		GILLIESTON
PROJECT VALUE (INCL. GST)		$91.9M
TOTAL LOTS		430
PROJECT PERIOD (CALENDAR YEAR)		EARLY 2007 - LATE 2017
OWNERSHIP STRUCTURE		100% MIRVAC LIMITED
	Project Update

Civil works for stages 1 - 5 are complete. Stage 6 works are expected to start in 2013.

PROPERTY COMPENDIUM 31 DECEMBER 2012

PANORAMA, 23 BODDINGTONS ROAD

GLENFIELD, NSW

==> picture [193 x 122] intentionally omitted <==

Panorama is located West of Liverpool and South of Casula within a minutes drive of the M7/M5 intersection and Glenfield railway station.

The site is bordered to by Hurlstone Agricultural High School, Campbelltown Rd and Glenfield Rd and sits within the Campbelltown City Council Glenfield Rd Area DCP.

Summary Information - In Progress

ACQUISITION DATE JUN 01 LOCATION GLENFIELD PROJECT VALUE (INCL. GST) $287.5M TOTAL LOTS 788 PROJECT PERIOD (CALENDAR YEAR) MID 2001 - MID 2015 OWNERSHIP STRUCTURE 100% MIRVAC LIMITED Project Update

Civil works are complete for all stages within Panorama (Stage 1) and Vista (Stage 2). The house construction in these two stages is ongoing with settlements anticipated in FY13.

The first sections of Parkside (Stage 3) have been designed and are with Council for approval. Subdivision construction is anticipated to commence mid 2013.

PROPERTY COMPENDIUM 31 DECEMBER 2012

GOOGONG, GOOGONG DAM ROAD

GOOGONG, NSW

==> picture [193 x 118] intentionally omitted <==

Googong is a new township located on former grazing land on the NSW/ACT boarder, just 16 kilometres southeast of Parliament House in Canberra, and 8km south of Queanbeyan.

It will be developed on an undulating 780 hectare site over 20 to 25 years, and will eventually be home to some 16,000 people. As a completely new, self-contained township, Googong will provide housing choice, community facilities, shops, schools, recreational and employment opportunities.

Over 23 per cent of the site will be dedicated to Council as open space for parklands and playing fields.

Summary Information - In Progress

Summary Information - In Progress
ACQUISITION DATE	DEC 11
LOCATION	GOOGONG
PROJECT VALUE (INCL. GST)	$85.7M
TOTAL LOTS	337
PROJECT PERIOD (CALENDAR YEAR)	LATE 2011 - EARLY 2014
OWNERSHIP STRUCTURE	JV WITH CIC AUSTRALIA LTD

Project Update

Googong continues to build upon its strong sales momentum with over 235 exchanged land contracts. A land sales and information display centre is being established at Jerrabomberra shopping centre (completion due February 2013) and will be the feature of our sales and marketing campaigns over the coming months. Development Approval of Stages 3-5 (approx 518 lots) is before the JRPP and due for consideration in March 2013. Infrastructure planning approvals continue to be the focus for the development team in the first half of 2013.

PROPERTY COMPENDIUM 31 DECEMBER 2012

HAROLD PARK, ROSS STREET

GLEBE, NSW

==> picture [193 x 122] intentionally omitted <==

The Site is located in the inner western suburbs approximately 2.5 kilometres from the Sydney CBD. 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

Mirvac's proposed scheme incorporates approximately 1,200 apartments and terraces, adaptive re-use of the former Rozelle Tram Depot and will include the dedication of 3.8 hectares of public open space to the City of Sydney Council.

Summary Information - In Progress
ACQUISITION DATE	DEC 10
LOCATION	GLEBE
PROJECT VALUE (INCL. GST)	$450.4M
TOTAL LOTS	482
PROJECT PERIOD (CALENDAR YEAR)	LATE 2012 - LATE 2014
OWNERSHIP STRUCTURE	100% MIRVAC LIMITED

Project Update

Development of the site commenced in late 2012. Precincts 1 & 2 have now been released to the market with settlements forecast to commence from FY 2014.

PROPERTY COMPENDIUM 31 DECEMBER 2012

MIDDLETON GRANGE, MIDDLETON DRIVE & TRUSCOTT AVENUE

MIDDLETON GRANGE, NSW

==> picture [193 x 122] intentionally omitted <==

Middleton Grange forms a part of the Southern Hoxton Park release area, and is situated between the M7 motorway and the Western Sydney Parklands. The site is surrounded by large land holdings that are currently undergoing development.

The site is located on the western side of the M7 motorway and is approximately 50km drive from the Sydney CBD and 10km from the Liverpool CBD (the closest regional centre). Middleton Grange is a community title masterplanned development which includes two Council parks along with two community facilities delivered over 6 stages.

Mirvac is building both spec and packaged homes, along with three other pre-selected builders which include Casaview Homes, Firstyle Homes and Lily Homes.

Summary Information - In Progress	Summary Information - In Progress
ACQUISITION DATE		DEC 10
LOCATION		MIDDLETON GRANGE
PROJECT VALUE (INCL. GST)		$160.0M
TOTAL LOTS		486
PROJECT PERIOD (CALENDAR YEAR)		LATE 2007 - LATE 2013
OWNERSHIP STRUCTURE		100% MIRVAC LIMITED
	Project Update

Civil works for the project are now complete.

Speculative construction update: Stages 1-5 (213 homes) have been completed; Stage 6 development consent granted in October 2012 with construction completion expected mid 2013.

PROPERTY COMPENDIUM 31 DECEMBER 2012

NEWBURY ESTATE, OLD WINDSOR ROAD STANHOPE GARDENS, NSW

==> picture [193 x 122] intentionally omitted <==

Newbury Estate is a 156ha Masterplanned Community Title estate complete with 3 proposed schools, playing fields and a local Retail District. It is situated at Stanhope Gardens within Blacktown City Council. The Estate is made up of dwellings in seven separate Community Title subdivisions each having their own Community Facility comprising a clubhouse, tennis court, pool, spa and BBQ.

Summary Information - In Progress	Summary Information - In Progress
ACQUISITION DATE		DEC 99
LOCATION		STANHOPE GARDENS
PROJECT VALUE (INCL. GST)		$229.5M
TOTAL LOTS		1,761
PROJECT PERIOD (CALENDAR YEAR)		MID 2000 - LATE 2013
OWNERSHIP STRUCTURE		PDA WITH LANDCOM
	Project Update

All land and houses in neighbourhoods 1-7 are settled. Construction of the final homes in Stanhope Court are due for completion in mid 2013.

PROPERTY COMPENDIUM 31 DECEMBER 2012

RHODES WATERSIDE MWRDP, SHORELINE DRIVE

RHODES, NSW

==> picture [193 x 122] intentionally omitted <==

Rhodes Waterside is located in a fast growing area of Sydney on the Parramatta River adjacent to significant infrastructure including Rhodes railway station, Millennium Parklands, Sydney Olympic Park and Rhodes Shopping Centre. The completed Rhodes Waterside development will comprise 1,469 apartments developed over 10 stages (936 apartments to be developed by Mirvac; the remainder were developed by Walker prior to our acquisition of the site in January 2007).

Summary Information - In Progress	Summary Information - In Progress
ACQUISITION DATE		JAN 071
LOCATION		RHODES
PROJECT VALUE (INCL. GST)		$650.6M
TOTAL LOTS		936
PROJECT PERIOD (CALENDAR YEAR)		LATE 2006 - LATE 2014
OWNERSHIP STRUCTURE		100% MWRDP (Mirvac Limited 20% equity interest)
	Project Update

5 of the 6 stages are now complete with all apartments within those 5 stages sold and settled. The final building of 233 apartments, Pinnacle, commenced construction late in 2011 and completion is currently forecast for FY 2014.

1. TRANSACTION DATE.

PROPERTY COMPENDIUM 31 DECEMBER 2012

SPRING FARM, 13 BELMONT AVENUE

SPRING FARM, NSW

==> picture [193 x 122] intentionally omitted <==

Spring Farm is located within the Camden LGA in Sydney's South - West, approximately 65km from the Sydney CBD. The project incorporates residential lots, both speculative and packaged housing, over 5 stages. The development also includes the retention of existing ecology and construction of a park.

Summary Information - In Progress	Summary Information - In Progress
ACQUISITION DATE		JUN 08
LOCATION		SPRING FARM
PROJECT VALUE (INCL. GST)		$121.4M
TOTAL LOTS		449
PROJECT PERIOD (CALENDAR YEAR)		MID 2006 - MID 2015
OWNERSHIP STRUCTURE		100% MIRVAC LIMITED
	Project Update

Stages 1, 2 and 3 have been released for sale to the market, with settlements for Stage 3 continuing through 2013. Stage 4 civil works commenced December 2012 with completion forecast to occur April 2013.

PROPERTY COMPENDIUM 31 DECEMBER 2012

THE ROYAL, 1-7 KING STREET

NEWCASTLE, NSW

==> picture [193 x 122] intentionally omitted <==

The Royal, Newcastle Beach, is located on the former Royal Newcastle Hospital site.

Mirvac developed the site in various stages which includes 3 buildings being the Nickson, Hannell and McCaffrey buildings. Nickson and Hannell were part of the first stage of the development and contain 94 apartments. The two buildings were designed by multi award-winning, Tzannes Associates.

The third building, McCaffrey, is a 16 storey building containing 73 apartments and a 4.5 star hotel which occupies the first 5 floors of the building. The site also includes 4 retail tenancies.

Summary Information - In Progress	Summary Information - In Progress
ACQUISITION DATE		JUN 07
LOCATION		NEWCASTLE
PROJECT VALUE (INCL. GST)		$153.9M
TOTAL LOTS		167
PROJECT PERIOD (CALENDAR YEAR)		MID 2007 - LATE 2013
OWNERSHIP STRUCTURE		100% MIRVAC LIMITED
	Project Update

Construction is now complete. Marketing activities are focused on selling remaining stock.

PROPERTY COMPENDIUM 31 DEC 2012

Development

==> picture [93 x 16] intentionally omitted <==

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

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

==> picture [255 x 122] intentionally omitted <==

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

Mirvac share fOrecasT revenue lOTs unDer cOnTrOl
$2.7 BilliOn 12,431
Houses / Land 56.4% Houses / Land 90.3%
Apartments 43.6% Apartments 9.7%
in Progress
----- End of picture text -----

											PRoJECt PERioD	PRoJECt PERioD
								SEttLEMENt DAtE1		CURRENt PRiCE RANGE	(CALENDER YEAR)
			PRoJECt
	ACQUiSitioN		VALUE	totAL									CoNStRUCtioN
PRoPERtiES	DAtE	LoCAtioN	(iNC GSt)	LotS	RELEASED	EXCHANGED	SEttLED	FRoM	to	FRoM to	FRoM	to	PRoGRESS2	DESCRiPtioN	oWNERSHiP StRUCtURE
															100% MWRDP
Harcrest MWRDP	Feb 083	Wantirna South	$151.5m	316	274	248	201	Jun 11	Oct 14	$310,000 $950,000	Late 2010	Early 2018		Houses and land	(Mirvac Limited 20% equity interest)
Stage 1			$54.8m	104	86	85	80	Jun 11	Oct 14	$325,000 $950,000	Late 2010	Late 2014	75%
Stage 2			$36.7m	83	82	78	76	Oct 11	Apr 13	$310,000 $610,000	Late 2010	Early 2013	95%
Stage 3			$46.0m	98	83	73	45	May 12	Nov 13	$340,000 $615,000	Early 2012	Late 2013	20%
Stage 4			$13.9m	31	23	12	0	Jul 13	Sep 13	$335,000 $560,000	Early 2012	Late 2013	0%
Laureate	Jul 07	Albert Park	$94.7m	46	46	46	46	Apr 11	Nov 12	$1,395,000 $3,195,000	Mid 2007	Late 2012	**100% **	Inner-city townhouse	100% Mirvac Limited
Waverley Park	Dec 013	Mulgrave	$634.6m	1,164	1,080	1,067	1,013	Nov 03	Jan 18	$225,000 $1,075,000	Mid 2002	Early 2018		Integrated housing	100% Mirvac Limited
Completed Stages			$369.2m	746	746	746	746	Nov 03	Oct 12	$225,000 $945,000	Mid 2002	Late 2012	100%
Stage 05			$81.8m	118	114	114	114	Oct 09	Sep 15	$475,000 $1,050,000	Late 2008	Late 2015	100%
Stage 06			$37.4m	55	25	25	25	May 11	Jan 18	$495,000 $875,000	Mid 2010	Early 2018	50%
Stage 07			$48.8m	96	54	54	54	Apr 08	Aug 17	$370,000 $720,000	Late 2007	Mid 2017	60%
Stage 08			$68.5m	108	100	89	37	Jun 12	Jul 13	$513,000 $950,000	Early 2011	Mid 2013	95%
Stage 12			$28.8m	41	41	39	37	Jun 12	Jul 13	$555,000 $1,075,000	Mid 2010	Mid 2013	100%
Yarra's Edge	Mar 04	Docklands	$649.0m	637	637	459	177	Mar 08	Jul 17	$120,000 $7,000,000	Early 2004	Mid 2017		Luxury housing including marina berths	100% Mirvac Limited
Marina			$19.3m	149	149	105	101	Mar 08	Jul 17	$120,000 $225,000	Early 2004	Mid 2017	100%
Array			$218.1m	205	205	104	0	Jul 15	May 16	$520,000 $7,000,000	Early 2012	Mid 2016	1%
Yarra Point			$192.1m	201	201	170	0	Mar 13	May 14	$510,000 $2,400,000	Mid 2008	Mid 2014	90%
River Homes			$219.6m	82	82	80	76	May 10	Jul 13	$855,000 $7,000,000	Early 2007	Mid 2013	100%

PROPERTY COMPENDIUM 31 DEC 2012

Development victoria

Proposed

PRoPERtY	ACQUiSitioN DAtE LoCAtioN PRoJECt VALUE (iNC GSt) totAL LotS PRoJECt PERioD FRoM to DESCRiPtioN oWNERSHiP StRUCtURE
Dallas Brooks Hall Dec 12 East Melbourne $275.1m 257 May 18 Jun 20 Apartments PDA
Donnybrook Road Jun 12 Donnybrook $446.0m 2295 Jan 17 Aug 30 Land subdivision Combination of 100% balance sheet and PDA for various land holdings within development
Harcrest MWRDP Feb 08 Wantirna South $284.8m 569 Sep 13 Mar 18 Houses and land 100% MWRDP (Mirvac Limited 20% equity interest)
Rockbank Nov 06 Rockbank $1,096.8m 5780 Jul 15 Sep 34 Land subdivision 50% Mirvac Limited 50% Jayaland Corporation
Smith's Lane Nov 11 Clyde North $466.0m 2107 Jul 15 May 26 Land subdivision 100% Mirvac Limited
Yarra's Edge Jun 15 Docklands $623.8m 541 Aug 17 Jun 19 Luxury highrise apartment towers 100% Mirvac Limited
Waverley Park Dec 013 Mulgrave $91.7m 156 Sep 13 Mar 17 integrated housing 100% Mirvac Limited

1. SETTLEMENT DATE MAY VARY AS CIRCUMSTANCES CHANGE.

2. CONSTRUCTION PROGRESS AS A PERCENTAGE OF COST. WHICH INCLUDES LAND SUBDIVISION BUT NOT LAND ACQUISITION.

3. TRANSACTION DATE.

PROPERTY COMPENDIUM 31 DECEMBER 2012

HARCREST MWRDP, CNR OF HARCREST BLVD & APPLEDALE WAY WANTIRNA SOUTH, VIC

==> picture [193 x 122] intentionally omitted <==

Harcrest is a 56 hectare infill development, comprising vacant land and Mirvac integrated housing. Nestled amongst well established suburbs, Harcrest offers buyers a unique opportunity to buy or build a brand new home at the foothills of the Dandenong Ranges. Formally the Austral Bricks Quarry, extensive filling works have been undertaken.

Summary Information - In Progress
ACQUISITION DATE	FEB 081
LOCATION	WANTIRNA SOUTH
PROJECT VALUE (INCL. GST)	$151.5M
TOTAL LOTS	316
PROJECT PERIOD (CALENDAR YEAR)	LATE 2010 - LATE 2018
OWNERSHIP STRUCTURE	100% MWRDP (Mirvac Limited 20% equity interest)

Project Update

Construction of Stages 1 & 2 is complete. Stage 3 land is complete. Construction of Stage 3 housing is progressing and on program to meet FY13 settlement targets. The retail centre is fully leased with majority of shops now trading. An expression of interest campaign will be run for the sale of the supermarket tenancy Q2 2013. Sales and marketing focus on sale of remaining stock across Stages 1-3 to enable settlements during FY 2013.

1. TRANSACTION DATE.

PROPERTY COMPENDIUM 31 DECEMBER 2012

LAUREATE, 25 DANKS STREET

ALBERT PARK, VIC

==> picture [193 x 122] intentionally omitted <==

Laureate is an 8,144sqm island site located in Albert Park, one of Melbourne's oldest and most prestigious suburbs. Residing only two blocks from Port Phillip Bay and less than 5km from Melbourne's CBD, Laureate benefits from it's close proximity to cafes, restaurants and shops. Rising over three or four levels, the 46 luxury terraces boast large outdoor terraces that maximise the City and Bay views on offer.

Summary Information - In Progress	Summary Information - In Progress
ACQUISITION DATE		JUL 07
LOCATION		ALBERT PARK
PROJECT VALUE (INCL. GST)		$94.7M
TOTAL LOTS		46
PROJECT PERIOD (CALENDAR YEAR)		MID 2007 - LATE 2011
OWNERSHIP STRUCTURE		100% MIRVAC LIMITED
	Project Update

Construction was complete in June 2011, all 46 terraces have now been sold and settled.

PROPERTY COMPENDIUM 31 DECEMBER 2012

WAVERLEY PARK, GOODISON COURT

MULGRAVE, VIC

==> picture [193 x 122] intentionally omitted <==

Waverley Park is a masterplanned community located in the South Eastern suburb of Mulgrave, approximately 23 kilometres from the Melbourne CBD. The site was previously an Australian Rules Football venue. The oval and a portion of the stadium have been retained and converted into a retail precinct, now home to the Hawthorn Football Club. The site is over 80 hectares.

Summary Information - In Progress	Summary Information - In Progress
ACQUISITION DATE		DEC 011
LOCATION		MULGRAVE
PROJECT VALUE (INCL. GST)		$634.6M
TOTAL LOTS		1,164
PROJECT PERIOD (CALENDAR YEAR)		MID 2002 - MID 2018
OWNERSHIP STRUCTURE		100% MIRVAC LIMITED
	Project Update

Housing construction for Stage 8 is progressing with the stage 90% sold. Stage 9 civil construction is on program for completion mid 2013, sales are now underway.

1. TRANSACTION DATE.

PROPERTY COMPENDIUM 31 DECEMBER 2012

YARRA'S EDGE, LORIMER STREET DOCKLANDS, VIC

==> picture [193 x 122] intentionally omitted <==

Yarra's Edge is a 14 hectare site located on the southern bank of the Yarra River in Melbourne's Docklands. Mirvac commenced works at Yarra's Edge in 1999 and on completion the project will include in excess of 2,000 dwellings with a mix of retail and commercial space. The following projects currently being developed include Yarra Point (31 level residential tower of 201 apartments), Array (39 level residential tower of 205 apartments) and River Homes (82 luxury medium density homes including 27 private marina berths).

Summary Information - In Progress	Summary Information - In Progress
ACQUISITION DATE		MAR 04
LOCATION		DOCKLANDS
PROJECT VALUE (INCL. GST)		$649.0M
TOTAL LOTS		637
PROJECT PERIOD (CALENDAR YEAR)		EARLY 2004 - MID 2017
OWNERSHIP STRUCTURE		100% MIRVAC LIMITED
	Project Update

Yarra Point was launched in October 2010 and over 85% of the apartments are now sold. Construction commenced in December 2010 with completion expected March 2013.

For Array a public sales launch is occurred in September 2012 and to date the project is approximately 50% sold. Site works have now commenced with completion is expected mid 2015.

Stage 4 of the River Precinct was completed in August 2012 with all other stages now complete. Marketing activity is concentrated on selling remaining stock.

PROPERTY COMPENDIUM 31 DEC 2012

Development

	LotS unDer controL 3,201 Houses / Land 77.3% Apartments 22.7%
ProPerties ACQUisitioN DAte	LoCAtioN ProJeCt VALUe (iNC Gst) totAL Lots reLeAseD eXCHANGeD settLeD settLeMeNt DAte1 CUrreNt PriCe rANGe ProJeCt PerioD (CALeNDer YeAr) CoNstrUCtioN ProGress2 DesCriPtioN oWNersHiP strUCtUre FroM to FroM to FroM to
Brookwater May 06	Springfield $26.2m 57 41 26 25 Jul 09 Dec 14 $375,000 $715,000 Late 2007 Late 2014 Townhouses 100% Mirvac Limited
Completed Stages	$11.7m 23 23 23 23 Jul 09 Jun 12 $399,000 $715,000 Late 2007 Mid 2012 100%
Stage 2	$14.5m 34 18 3 2 Nov 12 Dec 14 $375,000 $560,000 Mid 2010 Late 2014 60%
ephraim island Nov 01 Pa	radise Point $484.5m 383 382 362 362 Jun 05 Dec 14 $495,000 $4,950,000 Mid 2003 Late 2014 Houses, apartments, villas, vacant land and marina berths 50% Mirvac Limited 50% Lewis Land Group of Companies
Completed Stages	$155.1m 101 101 101 101 Apr 06 Feb 10 $756,000 $4,950,000 Mid 2004 Early 2010 100%
Stage 1	$140.2m 136 135 135 135 Jun 05 Jun 14 $525,000 $2,800,000 Mid 2003 Mid 2014 100%
Stage 3	$121.1m 85 85 83 83 Dec 06 May 13 $495,000 $3,395,000 Mid 2005 Mid 2013 100%
Stage 4B	$68.2m 61 61 43 43 Apr 08 Dec 14 $495,000 $4,750,000 Mid 2006 Late 2014 100%
Gainsborough Greens oct 06	Pimpama $85.6m 348 233 103 97 Dec 10 Feb 16 $170,000 $5,280,000 Late 2006 early 2016 Vacant Land and Houses 100% Mirvac Limited
Precinct 2 - Terrace Green	$32.3m 119 113 45 45 Dec 10 Dec 15 $170,000 $575,000 Late 2006 Late 2015 100%
Precinct 6.1 - Green Park	$31.7m 134 120 58 52 Feb 12 Feb 16 $211,000 $350,000 Early 2011 Early 2016 100%
Precinct 6.3 - Green Park	$21.7m 95 0 0 0 Aug 13 Nov 15 $195,000 $330,000 Early 2013 Late 2015 0%
Mariner's Peninsula Jun 063	Townsville $23.8m 19 17 11 11 Jun 09 Mar 15 $1,000,000 $2,625,000 Mid 2006 Early 2015 Houses, apartments and vacant land 100% Mirvac Limited
Completed Stages	$10.1m 4 4 4 4 Jun 09 May 10 $2,330,000 $2,625,000 Mid 2006 Mid 2010 100% Houses
The Point	$13.8m 15 13 7 7 Apr 12 Mar 15 $1,000,000 $1,245,000 Mid 2011 Early 2015 100% Vacant Land Lots

PROPERTY COMPENDIUM 31 DEC 2012

Development

Queensland

												PRoJECt PERioD	PRoJECt PERioD
								SEttLEMENt	DAtE1	CURRENt	PRiCE RANGE	(CALENDER YEAR)
			PRoJECt
	ACQUiSitioN		VALUE	totAL										CoNStRUCtioN
PRoPERtiES	DAtE	LoCAtioN	(iNC GSt)	LotS	RELEASED	EXCHANGED	SEttLED	FRoM	to	FRoM	to	FRoM	to	PRoGRESS2	DESCRiPtioN	oWNERSHiP StRUCtURE
																100% MWRDP
Mossvale on Manly MWRDP	Jun 073	Wakerley	$117.3m	181	145	141	135	oct 08	Jan 14	$330,000	$810,000	Late 2007	Early 2014		Houses and vacant land	(Mirvac Limited 20% equity interest)
Completed Stages			$26.0m	39	39	39	39	Oct 08	Jan 10	$621,100	$749,550	Late 2007	Early 2010	100%
Stage 09			$91.3m	142	106	102	96	Feb 10	Jan 14	$330,000	$810,000	Early 2009	Early 2014	82%
tennyson Reach	Aug 05	tennyson	$280.1m	207	207	174	174	May 09	Apr 16	$575,000	$5,250,000	Mid 2007	Early 2016		Apartments and State tennis Centre	100% Mirvac Limited
Lushington			$188.4m	115	115	112	112	May 09	Oct 13	$740,000	$4,875,000	Mid 2007	Late 2013	100%
Farringford			$91.8m	92	92	62	62	Mar 10	Apr 16	$575,000	$5,250,000	Late 2007	Early 2016	100%
															Detached spec houses,
the Sanctuary on Moggill	Sep 04	Moggill	$101.8m	357	289	281	280	Mar 07	Jan 15	$175,000	$595,000	Mid 2006	Early 2015		contract homes and vacant land	100% Mirvac Limited
Completed Stages			$68.1m	228	228	228	228	Mar 07	Apr 12	$175,000	$595,000	Mid 2006	Early 2012	100%
Stage 2B			$15.7m	61	61	53	52	Feb 12	Jul 13	$230,000	$290,000	Early 2011	Mid 2013	100%
Stage 3			$18.0m	68				Sep 13	Jan 15	$240,000	$330,000	Early 2013	Early 2015	0%
Waterfront, Park Precinct	Apr 08	Newstead	$91.1m	102	102	46	44	May 12	oct 14	$450,000	$2,390,000	Mid 2010	Late 2014	100%	Apartments	100% Mirvac Limited
																100% MWRDP
Waterfront MWRDP, Pier Precinct	Jun 083	Newstead	$330.1m	99	99	55	55	Mar 11	Apr 17	$1,850,000	$14,250,000	Mid 2008	Early 2017	100%	Apartments	(Mirvac Limited 20% equity interest)

Proposed

PRoPERtY	ACQUiSitioN DAtE LoCAtioN PRoJECt VALUE (iNC GSt) totAL LotS PRoJECt PERioD FRoM to DESCRiPtioN oWNERSHiP StRUCtURE
Brookwater May 06 Springfield $73.7m 123 Early 2014 Late 2018 townhouses 100% Mirvac Limited
Gainsborough Greens oct 06 Pimpama $545.3m 1,987 Early 2013 Late 2025 Vacant Land and Houses 100% Mirvac Limited
Waterfront Apr 08 Newstead $480.0m 570 Late 2015 Mid 2021 Apartments 100% Mirvac Limited

1. SETTLEMENT DATE MAY VARY AS CIRCUMSTANCES CHANGE.

2. CONSTRUCTION PROGRESS AS A PERCENTAGE OF COST. WHICH INCLUDES LAND SUBDIVISION BUT NOT LAND ACQUISITION.

3. TRANSACTION DATE.

PROPERTY COMPENDIUM 31 DECEMBER 2012

BROOKWATER, MELALEUCA DRIVE

BROOKWATER, QLD

==> picture [193 x 122] intentionally omitted <==

Located 24km South West of the Brisbane CBD and 15 minutes from Ipswich, the Greater Springfield region has been identified by the State Government as a key growth corridor. Fairways Brookwater brings Mirvac's signature quality to this dynamic corner of South East Queensland. Nestled amongst the native bushland and surrounded by the Greg Norman designed Brookwater Golf Course, Fairways will deliver contemporary architect designed dwellings.

Summary Information - In Progress	Summary Information - In Progress
ACQUISITION DATE		MAY 06
LOCATION		SPRINGFIELD
PROJECT VALUE (INCL. GST)		$26.2M
TOTAL LOTS		57
PROJECT PERIOD (CALENDAR YEAR)		LATE 2007 - LATE 2014
OWNERSHIP STRUCTURE		100% MIRVAC LIMITED
	Project Update

All 23 lots in stage 1 have settled, Settlements have commenced in Stage 2. Construction in stage 2 (34 lots) is ongoing and the delivery of the remaining stages will be completed progressively until the completion of the project. Fairways Brookwater will comprise 180 lots in total when all stages have been delivered.

PROPERTY COMPENDIUM 31 DECEMBER 2012

EPHRAIM ISLAND

PARADISE POINT, QLD

==> picture [193 x 122] intentionally omitted <==

Ephraim Island is a 9.6 hectare freehold title island located 9 km north of Surfers Paradise on the Gold Coast, Queensland. Developed in four stages, Ephraim Island comprises 383 apartments and houses across five precincts. The complex includes a restaurant, well-being centre, lap pool, spa, gym and day-spa facility. The island also has 115 private marina berths.

Summary Information - In Progress	Summary Information - In Progress
ACQUISITION DATE		NOV 01
LOCATION		PARADISE POINT
PROJECT VALUE (INCL. GST)		$484.5M
TOTAL LOTS		383
PROJECT PERIOD (CALENDAR YEAR)		MID 2003 - LATE 2014
OWNERSHIP STRUCTURE		50% MIRVAC LIMITED, 50% LEWIS LAND GROUP OF COMPANIES
	Project Update

Construction of the final stage on Ephraim Island was completed in April 2008. Marketing activities are focused on selling the remaining unsold apartments.

PROPERTY COMPENDIUM 31 DECEMBER 2012

GAINSBOROUGH GREENS

PIMPAMA, QLD

==> picture [193 x 122] intentionally omitted <==

Gainsborough Greens is a large scale master planned community located in one of the fastest growing corridors in Australia, only 50km from the Brisbane CBD and 30kms from Surfers Paradise.

Summary Information - In Progress
ACQUISITION DATE	OCT 06
LOCATION	PIMPAMA
PROJECT VALUE (INCL. GST)	$85.6M
TOTAL LOTS	348
PROJECT PERIOD (CALENDAR YEAR)	LATE 2006 - EARLY 2016
OWNERSHIP STRUCTURE	100% MIRVAC LIMITED

Project Update

To date, 253 lots have been developed and released to market since September 2010 including 119 lots within a Body Corporate structure, and 134 under freehold title. Approvals are in place for the next freehold release area (95 lots) with civil construction commencing in January 2013, while the next Body Corporate release area (89 lots) received council Development Approval in December 2012. The Gainsborough Greens Golf Club continues to operate.

PROPERTY COMPENDIUM 31 DECEMBER 2012

MARINER'S PENINSULA, MARINER'S DRIVE, NORTH WARD TOWNSVILLE, QLD

==> picture [193 x 122] intentionally omitted <==

The site is located on "The Strand" in Townsville, North Queensland and enjoys 270 degree views across the adjacent marina and Cleveland Bay. The development comprises beachfront houses, land and apartments.

Summary Information - In Progress	Summary Information - In Progress
ACQUISITION DATE		JUN 06
LOCATION		TOWNSVILLE
PROJECT VALUE (INCL. GST)		$23.8M
TOTAL LOTS		19
PROJECT PERIOD (CALENDAR YEAR)		MID 2006 - EARLY 2015
OWNERSHIP STRUCTURE		100% MIRVAC LIMITED
	Project Update

Construction is now complete for stages in progress. Marketing activities are focused on selling remaining stock.

PROPERTY COMPENDIUM 31 DECEMBER 2012

MOSSVALE ON MANLY. MWRDP, KATHERINE STREET

WAKERLEY, QLD

==> picture [193 x 122] intentionally omitted <==

Mossvale on Manly is a 503 lot residential subdivision consisting primarily of Mirvac built spec homes on traditional allotments. The project includes over 10ha of parklands with recreational facilities and tranquil waterways for residents of the estate. Mossvale on Manly is centrally located in Wakerley near shops, schools and recreational facilities and is approximately 14 kilometres east of the Brisbane CBD and 5 kilometres from Moreton Bay. MWRDP purchased Stage 9 and 10 (180 lots) from Mirvac in 2007.

Summary Information - In Progress	Summary Information - In Progress
ACQUISITION DATE		JUN 07
LOCATION		WAKERLEY
PROJECT VALUE (INCL. GST)		$117.3M
TOTAL LOTS		181
PROJECT PERIOD (CALENDAR YEAR)		MID 2007 - EARLY 2014
OWNERSHIP STRUCTURE		100% MWRDP (Mirvac Limited 20% equity interest)
	Project Update

The final stage of the development comprising 131 spec homes and 11 land only lots is underway with 96 lots settled as at 31 December 2012. The balance of 46 lots are to be constructed and sold progressively.

PROPERTY COMPENDIUM 31 DECEMBER 2012

TENNYSON REACH, 173 KING ARTHUR TERRACE TENNYSON, QLD

==> picture [193 x 122] intentionally omitted <==

Tennyson Reach is located on the north-facing riverfront land, approximately 8km from the Brisbane CBD. The Queensland Tennis Centre occupies the southern half of the site with Tennyson Reach on the riverfront.

The development comprises 207 apartments over three buildings which are up to 11 storeys in height.

As a result of the Brisbane flood in January 2011, Mirvac made the decision to sell the balance undeveloped land parcels to the Brisbane City Council for use as Parkland. The sale to council settled in June 2011 and in December 2012 Mirvac completed the parkland construction works.

Summary Information - In Progress	Summary Information - In Progress
ACQUISITION DATE		AUG 05
LOCATION		TENNYSON
PROJECT VALUE (INCL. GST)		$280.1M
TOTAL LOTS		207
PROJECT PERIOD (CALENDAR YEAR)		MID 2007 - EARLY 2016
OWNERSHIP STRUCTURE		100% MIRVAC LIMITED
	Project Update

Stage 1 comprised 115 apartments and construction was completed in April 2009.

Stage 2 comprised 92 apartments and construction was completed in January 2010.

Marketing activities are focused on selling the remaining unsold stock.

PROPERTY COMPENDIUM 31 DECEMBER 2012

THE SANCTUARY ON MOGGILL, 4 SANCTUARY WAY

MOGGILL, QLD

==> picture [193 x 122] intentionally omitted <==

The Sanctuary on Moggill is a land only residential development located 18km West of the Brisbane CBD. The estate has a large park and cricket oval at its heart and is surrounded by semi rural properties and natural bushland while remaining in close proximity to amenities such as local schools, sporting facilities and shopping centres.

Summary Information - In Progress	Summary Information - In Progress
ACQUISITION DATE		SEP 04
LOCATION		MOGGILL
PROJECT VALUE (INCL. GST)		$101.8M
TOTAL LOTS		357
PROJECT PERIOD (CALENDAR YEAR)		MID 2006 - EARLY 2015
OWNERSHIP STRUCTURE		100% MIRVAC LIMITED
	Project Update

This development is comprised of six stages, four of which are complete. Settlements are continuing within the fifth stage (61 lots), and civil works on the final stage will commence in early 2013 (68 lots). The final stage will be released to the market off the plan in early 2013 with the first settlements anticipated in the second half of the 2013 calendar year.

PROPERTY COMPENDIUM 31 DECEMBER 2012

WATERFRONT, PARK PRECINCT, CUNNINGHAM STREET

NEWSTEAD, QLD

==> picture [193 x 122] intentionally omitted <==

Waterfront, Newstead, is a premium residential, retail and parkland development, located on a prime 10.5 hectare, north-east facing riverfront site. The site is located in the inner city suburb of Newstead which is 2km from the Brisbane CBD and 8km from Brisbane Airport. Park comprises 8-16 storey building with 1, 2 and 3 bedroom apartments and a retail tenancy on the ground floor.

Summary Information - In Progress	Summary Information - In Progress
ACQUISITION DATE		APR 08
LOCATION		NEWSTEAD
PROJECT VALUE (INCL. GST)		$91.1M
TOTAL LOTS		102
PROJECT PERIOD (CALENDAR YEAR)		MID 2010 - LATE 2014
OWNERSHIP STRUCTURE		100% MIRVAC LIMITED
	Project Update

Construction was completed in mid 2012. Marketing activity is concentrated on selling remaining stock.

PROPERTY COMPENDIUM 31 DECEMBER 2012

WATERFRONT, PIER PRECINCT, MWRDP, 1 NEWSTEAD TERRACE NEWSTEAD, QLD

==> picture [193 x 122] intentionally omitted <==

Waterfront, Newstead, is a premium residential, retail and parkland development, located on a prime 10.5 hectare, north-east facing riverfront site. The site is located in the inner city suburb of Newstead which is 2km from the Brisbane CBD. Pier comprises luxury 3, 4 bedroom and penthouse apartments across two buildings.

Summary Information - In Progress	Summary Information - In Progress
ACQUISITION DATE		JUN 08
LOCATION		NEWSTEAD
PROJECT VALUE (INCL. GST)		$330.1M
TOTAL LOTS		99
PROJECT PERIOD (CALENDAR YEAR)		MID 2008 - EARLY 2017
OWNERSHIP STRUCTURE		100% MWRDP (Mirvac Limited 20% equity interest)
	Project Update

Construction was completed in March 2011 and activity is concentrated on selling remaining stock.

PROPERTY COMPENDIUM 31 DEC 2012

Development

	lOTs unDer cOnTrOl 3,746 Houses / Land 92.0% Apartments 8.0%
PRoPERtiES ACQUiSitioN DAtE	LoCAtioN PRoJECt VALUE (iNC GSt) totAL LotS RELEASED EXCHANGED SEttLED SEttLEMENt DAtE1 CURRENt PRiCE RANGE PRoJECt PERioD (CALENDER YEAR) CoNStRUCtioN PRoGRESS2 DESCRiPtioN oWNERSHiP StRUCtURE FRoM to FRoM to FRoM to
Beachside Leighton Aug 0	6 North Fremantle $171.7m 68 67 59 58 Nov 10 Sep 14 $840,000 $8,950,000 Mid 2006 Late 2014 Apartments / Retail 100% Mirvac Limited
Stage 1 - Lot 2	$155.3m 61 60 58 57 Nov 10 Sep 14 $840,000 $8,950,000 Mid 2006 Late 2014 100%
Stage 1A - Lot 2	$16.4m 7 7 1 1 Jun 12 Jun 14 $2,095,000 $2,600,000 Early 2007 Mid 2014 100%
Binningup Jan 0	8 Binningup $8.7m 42 40 17 17 Jul 09 Mar 15 $135,000 $249,000 Early 2009 Early 2015 Land lots PDA with Binningup Nominees
Stage 5 - Lakewood Shores	$2.9m 18 17 7 7 Jul 09 Feb 15 $135,000 $189,000 Early 2009 Early 2015 100%
Stage 6 - Lakewood Shores	$5.8m 24 23 10 10 Feb 10 Mar 15 $179,000 $249,000 Early 2009 Early 2015 100%
Highland Reserve at Jane Brook Jul 0	6 Jane Brook $52.0m 186 114 81 35 Jun 11 Jul 15 $235,000 $700,000 Late 2009 Mid 2015 Land lots 100% Mirvc Limited
Stage 1	$9.8m 38 36 36 35 Jun 11 Jul 15 $245,000 $272,000 Late 2009 Mid 2015 100%
Stage 2	$13.8m 51 50 24 0 Jan 13 Dec 13 $239,000 $700,000 Early 2010 Late 2013 97%
Stage 3	$10.7m 28 28 21 0 Jan 13 Oct 13 $259,000 $560,000 Mid 2010 Late 2013 88%
Stage 4	$17.8m 69 0 0 0 Aug 13 May 15 $235,000 $325,000 Early 2011 Mid 2015 10%
Kennedy Bay oct 0	6 Port Kennedy $117.4m 390 0 0 0 Jul 14 Dec 20 $213,750 $486,000 Late 2006 Late 2020 18% Land subdivision PDA with WABGR
Mandurah Syndicates MWRDP	Mandurah $100.1m 496 323 268 266 Jun 08 Sep 15 $120,000 $2,310,000 Mid 2007 Late 2015 100% MWRDP (Mirvac Limited 20% equity interest)
Bridgewater MWRDP Jun 07	3 $29.1m 161 83 54 54 Jun 08 Sep 15 $130,000 $260,000 Mid 2007 Late 2015 Land
Meadow Springs MWRDP Syndicate Jun 07	3 $43.2m 233 187 170 169 Apr 09 Apr 14 $120,000 $239,500 Mid 2007 Early 2014 Land
Seascapes Town Centre MWRDP Syndicate Jun 08	3 $27.8m 102 53 44 43 Apr 09 Jun 14 $120,000 $2,310,000 Mid 2008 Mid 2014 Mix of residential and retail lots

PROPERTY COMPENDIUM 31 DEC 2012

Development Western australia

												PRoJECt PERioD	PRoJECt PERioD
								SEttLEMENt	DAtE1	CURRENt PRiCE RANGE		(CALENDER YEAR)
			PRoJECt
	ACQUiSitioN		VALUE	totAL										CoNStRUCtioN
PRoPERtiES	DAtE	LoCAtioN	(iNC GSt)	LotS	RELEASED	EXCHANGED	SEttLED	FRoM	to	FRoM	to	FRoM	to	PRoGRESS2	DESCRiPtioN	oWNERSHiP StRUCtURE
																100% Mirvac Development Fund
Mandurah Syndicates Funds Management		Mandurah	$255.5m	1,199	972	899	885	Mar 06	Jun 16	$122,000	$3,080,131	Early 2006	Mid 2016			- Meadow Springs
																100% Mirvac Development Fund
Mirvac Development Fund - Meadow Springs	Jun 06	Mandurah	$126.1m	645	474	449	446	Dec 06	Jun 16	$127,917	$3,080,131	Mid 2006	Mid 2016		Land	- Meadow Springs
																100% Mirvac Development Fund
Mirvac Development Fund - Seascapes	Dec 05	Mandurah	$129.3m	554	498	450	439	Mar 06	Feb 15	$122,000	$773,000	Early 2006	Early 2015		Land	- Seascapes
Mindarie Keys	Jan 96	Mindarie	$298.3m	1,541	1,541	1,538	1,538	Jun 08	Jun 13	$185,000	$12,635,000	Mid 1996	Mid 2013		Land subdivision	15% Equity Share
Completed Stages			$273.1m	1,519	1,519	1,519	1,519	Jun 07	Apr 10	$185,000	$12,635,000	Mid 1996	Early 2010	100%
Stage 5B (ii)			$25.2m	22	22	19	19	Jun 08	Jun 13	$790,000	$1,800,000	Early 2007	Mid 2013	100%
															Luxury housing, apartment buildings	50% Mirvac Limited
the Peninsula	Feb 03	Burswood	$467.7m	396	394	353	353	May 07	Mar 16	$450,000	$13,395,000	Early 2003	Early 2016		and golf course apartments	50% AustralianSuper Fund
Completed Stages			$217.5m	168	168	168	168	May 07	Mar 10	$540,000	$13,395,000	Late 2003	Early 2010	100%
Allegro - Tower 1			$1.6m	2	1	1	1	May 07	Oct 13	$450,000	$825,000	Early 2003	Late 2013	100%
Axis - Tower 2			$27.0m	29	28	28	28	May 07	Jun 14	$475,000	$2,300,000	Late 2004	Mid 2014	100%
Aurora - Tower 4			$149.6m	133	133	108	108	Dec 09	Mar 16	$534,750	$4,150,000	Mid 2006	Early 2016	100%
Aquarius - Tower 5			$72.0m	64	64	48	48	Jun 10	Feb 15	$599,000	$2,799,000	Early 2007	Early 2015	100%
the Point	Dec 05	Mandurah	$161.1m	138	138	131	130	Dec 08	Dec 13	$295,000	$4,385,000	Late 2005	Late 2013		Apartments	100% Mirvac Limited
Completed Stages			$16.7m	13	13	13	13	Jun 09	Dec 12	$615,000	$4,385,000	Late 2005	Late 2012	100%
Building B			$87.0m	78	78	77	76	Dec 08	Sep 13	$295,000	$3,650,000	Late 2005	Late 2013	100%
Building C			$57.3m	47	47	41	41	Dec 08	Dec 13	$490,000	$3,750,000	Late 2005	Late 2013	100%

PROPERTY COMPENDIUM 31 DEC 2012

Development Western australia

Proposed

PRoPERtY	ACQUiSitioN DAtE LoCAtioN PRoJECt VALUE (iNC GSt) totAL LotS PRoJECt PERioD FRoM to DESCRiPtioN oWNERSHiP StRUCtURE
Beachside Leighton Aug 06 North Fremantle $167.8m 89 Early 2007 Early 2019 Apartments / Retail 100% Mirvac Limited
Binningup Jan 08 Binningup $346.0m 1,303 Mid 2008 Late 2028 Land PDA with Binningup Nominees
Bridgewater MWRDP Jan 073 Mandurah $27.6m 168 Mid 2012 Late 2017 Land 100% MWRDP (Mirvac Limited 20% equity interest)
Highland Reserve at Jane Brook Jul 06 Jane Brook $18.3m 36 Mid 2010 Late 2015 Land lots 100% Mirvc Limited
Meadow Springs MWRDP Syndicate Jun 073 Mandurah $44.7m 241 Mid 2007 Mid 2017 Land 100% MWRDP (Mirvac Limited 20% equity interest)
Seascapes town Centre MWRDP Syndicate Jun 083 Mandurah $26.4m 69 Early 2012 Early 2016 Land 100% MWRDP (Mirvac Limited 20% equity interest)
Swanbourne Jun 05 Swanbourne $8.6m 30 Early 2008 Early 2014 Land subdivision and houses 50% Mirvac Limited 50% Landcorp
the Peninsula Feb 03 Burswood $190.3m 168 Mid 2009 Late 2019 Luxury housing, apartment buildings and golf course apartments 50% Mirvac Limited 50% AustralianSuper Fund

1. SETTLEMENT DATE MAY VARY AS CIRCUMSTANCES CHANGE.

2. CONSTRUCTION PROGRESS AS A PERCENTAGE OF COST. WHICH INCLUDES LAND SUBDIVISION BUT NOT LAND ACQUISITION.

3. TRANSACTION DATE.

PROPERTY COMPENDIUM 31 DECEMBER 2012

BEACHSIDE LEIGHTON, 1 FREEMAN LOOP

NORTH FREMANTLE, WA

==> picture [193 x 118] intentionally omitted <==

The site occupies a coastal location approximately 20km south-west of the CBD. The development is mixed use, comprising apartments, terraces, retail and tourism. Beachside Leighton has achieved a number of awards, including HIA Greensmart Design Award 2008, Royal Institute of Architects Harold Krantz (WA) Multiple Dwelling 2011, Best Overall Commercial Contractor, Deep Green Landscaping 2011.

Summary Information - In Progress	Summary Information - In Progress
ACQUISITION DATE		AUG 06
LOCATION		NORTH FREEMANTLE
PROJECT VALUE (INCL. GST)		$171.7M
TOTAL LOTS		68
PROJECT PERIOD (CALENDAR YEAR)		MID 2006 - MID 2014
OWNERSHIP STRUCTURE		100% MIRVAC LIMITED
	Project Update

Construction complete. Marketing activity is concentrated on selling remaining stock.

PROPERTY COMPENDIUM 31 DECEMBER 2012

BINNINGUP, LAKES PARADE

BINNINGUP, WA

==> picture [193 x 118] intentionally omitted <==

Mirvac has entered into a development services agreement to transform 270 hectares of land located alongside the existing Binningup town site (in Western Australia's South West region) into a vibrant coastal community. The site features over 3kms of frontage to the Indian Ocean and an existing nine-hole golf course. Mirvac is currently working through the structure planning process to deliver a vision for the site including a mix of land lots and a coastal village featuring a range of mixed use facilities.

Summary Information - In Progress	Summary Information - In Progress
ACQUISITION DATE		JAN 08
LOCATION		BINNINGUP
PROJECT VALUE (INCL. GST)		$8.7M
TOTAL LOTS		42
PROJECT PERIOD (CALENDAR YEAR)		EARLY 2009 - EARLY 2015
OWNERSHIP STRUCTURE		PDA WITH BINNINGUP NOMINEES
	Project Update

Activity in progress consists of existing land subdivision at Lakewood Shores.

PROPERTY COMPENDIUM 31 DECEMBER 2012

HIGHLAND RESERVE AT JANE BROOK, JANE BROOK DRIVE

JANE BROOK, WA

==> picture [193 x 118] intentionally omitted <==

Highland Reserve at Jane Brook is located 20km north east of the Perth CBD and offers a mix of single residential and rural lifestyle lots for aspiring buyers. The project adjoins the John Forrest National Park and is set in a bushland landscape, enjoying uninterrupted views over the Perth metropolitan area.

Summary Information - In Progress	Summary Information - In Progress
ACQUISITION DATE		JUL 06
LOCATION		JANE BROOK
PROJECT VALUE (INCL. GST)		$52.0M
TOTAL LOTS		186
PROJECT PERIOD (CALENDAR YEAR)		LATE 2009 - MID 2015
OWNERSHIP STRUCTURE		100% MIRVAC LIMITED
	Project Update

Development works for Stages 2 and 3 commenced in February 2012 and were completed in December 2012. In response to the ongoing strong levels of market enquiry, stage 4 will commence in February 2013 with completion expected mid to late

PROPERTY COMPENDIUM 31 DECEMBER 2012

KENNEDY BAY, KENNEDY BAY DRIVE

KENNEDY BAY, WA

==> picture [193 x 118] intentionally omitted <==

Kennedy Bay is a master planned integrated development based on a "main street" beach front village centre precinct. This unique project fronts 4.5km of north facing beachfront within the Shoalwater Islands Marine Park. The project will be developed over 8-10 years in 3 stages, with each stage including a range of housing lot choices, short stay accommodation and public infrastructure.

Summary Information - In Progress	Summary Information - In Progress
ACQUISITION DATE		OCT 06
LOCATION		PORT KENNEDY
PROJECT VALUE (INCL. GST)		$117.4M
TOTAL LOTS		390
PROJECT PERIOD (CALENDAR YEAR)		LATE 2006 - LATE 2020
OWNERSHIP STRUCTURE		PDA WITH WABGR
	Project Update

Mirvac continues to work through the planning process, with an expected start date on site in 2014.

PROPERTY COMPENDIUM 31 DECEMBER 2012

MANDURAH SYNDICATES, MWRDP

MANDURAH, WA

==> picture [193 x 122] intentionally omitted <==

The Mandurah Syndicates MWRDP comprises the master planned communities of Meadow Springs, The Village at Seascapes and Bridgewater. Mirvac Limited has a 20% ownership in the MWRDP. The communities are all located within the Mandurah metropolitan area, leveraging off amenity in the form of golf course lifestyle for Meadow Springs, coastal living for The Village at Seascapes and estuary residences for Bridgewater.

Summary Information - In Progress	Summary Information - In Progress
ACQUISITION DATE		N/A
LOCATION		MANDURAH
PROJECT VALUE (INCL. GST)		$100.0M
TOTAL LOTS		496
PROJECT PERIOD (CALENDAR DAYS)		MID 2007 - LATE 2015
	Project Update

Each project is continuing to deliver lots to the market, predominately targeting 1st and 2nd home buyers. Meadow Springs has just commenced construction of stage 27B and has completed construction on the northern extension of Pebble Beach Boulevard. The Village at Seascapes is seeing increased traffic since the opening of the retail precinct. Bridgewater has seen an increase in sales and enquiry since November 2012.

PROPERTY COMPENDIUM 31 DECEMBER 2012

MANDURAH SYNDICATES MIRVAC FUNDS MANAGEMENT

MANDURAH, WA

==> picture [193 x 122] intentionally omitted <==

The Mandurah Syndicates Mirvac Funds Management comprises the master planned communities of Meadow Springs and Seascapes. The communities are all located within the Mandurah metropolitan area, leveraging off amenity in the form of golf course lifestyle for Meadow Springs and coastal living for Seascapes.

Summary Information - In Progress	Summary Information - In Progress
ACQUISITION DATE		DEC 05
LOCATION		MANDURAH
PROJECT VALUE (INCL. GST)		$255.5M
TOTAL LOTS		1,199
PROJECT PERIOD (CALENDAR YEAR)		EARLY 2006 - MID 2016
OWNERSHIP STRUCTURE		100% MIRVAC DEVELOPMENT FUND
	Project Update

Each project is continuing to deliver lots to the market, predominately targeting 1st and 2nd home buyers. Meadow Springs has commenced construction on stage 23A and continues to see traffic from the Quarry Adventure Park. Seascapes has commenced construction on stage 25 and 26B.

PROPERTY COMPENDIUM 31 DECEMBER 2012

MINDARIE KEYS, ANCHORAGE DRIVE

MINDARIE, WA

==> picture [193 x 122] intentionally omitted <==

The site is located within the established suburb of Mindarie and is 35 minutes from the Perth CBD and five minutes from the City of Joondalup. The development comprises developed built form lots as well as the final land subdivision lots around the existing Marina.

Summary Information - In Progress	Summary Information - In Progress
ACQUISITION DATE		JAN 96
LOCATION		MINDARIE
PROJECT VALUE (INCL. GST)		$298.3M
TOTAL LOTS		1,541
PROJECT PERIOD (CALENDAR YEAR)		MID 1996 - MID 2013
OWNERSHIP STRUCTURE		15% EQUITY SHARE
	Project Update

Marketing activities are focused on selling the remaining unsold lots.

PROPERTY COMPENDIUM 31 DECEMBER 2012

THE PENINSULA, 26 THE CIRCUS

BURSWOOD, WA

==> picture [193 x 122] intentionally omitted <==

The 17.1 hectare site is located within the town of Victoria Park approximately 5km east of Perth CBD, immediately adjacent to the Burswood Casino and Entertainment complex and has magnificent views across the Burswood Park Golf Course and the Swan River to Perth CBD.

Summary Information - In Progress	Summary Information - In Progress
ACQUISITION DATE		FEB 03
LOCATION		BURSWOOD
PROJECT VALUE (INCL. GST)		$467.7M
TOTAL LOTS		396
PROJECT PERIOD (CALENDAR YEAR)		EARLY 2003 - EARLY 2016
OWNERSHIP STRUCTURE		50% MIRVAC LIMITED, 50% AUSTRALIANSUPER FUND
	Project Update

Construction complete. Marketing activity is concentrated on selling remaining stock.

PROPERTY COMPENDIUM 31 DECEMBER 2012

THE POINT, 1 - 5 POLO DRIVE

MANDURAH, WA

==> picture [193 x 118] intentionally omitted <==

Located 50 minutes drive south of Perth overlooking the Harvey Estuary, The Point development comprises three residential apartment towers and includes a Sebel hotel. Facilities include swimming pools, conference facilities and "M on The Point" restaurant.

Summary Information - In Progress	Summary Information - In Progress
ACQUISITION DATE		DEC 05
LOCATION		MANDURAH
PROJECT VALUE (INCL. GST)		$161.1M
TOTAL LOTS		138
PROJECT PERIOD (CALENDAR YEAR)		LATE 2005 - LATE 2013
OWNERSHIP STRUCTURE		100% MIRVAC LIMITED
	Project Update

Marketing activity is concentrated on selling remaining stock.

PROPERTY COMPENDIUM 31 DECEMBER 2012

Commercial

PROPERTY	LOCATIOn	OWnERSHIP
		50% MPT
8 Chifley Square	Sydney, nSW	50% Keppel REIT
200 George Street	Sydney, nSW	100% Mirvac Limited
699 Bourke Street	Melbourne, VIC	100% Mirvac Limited
664 Collins Street	Melbourne, VIC	100% Mirvac Limited
		50% Mirvac
Treasury Building, cnr Barrack Street & St Georges Terrace	Perth, WA	50% Keppel REIT

PROPERTY COMPENDIUM 31 DECEMBER 2012

8 CHIFLEY SQUARE

SYDNEY, NSW

==> picture [193 x 129] intentionally omitted <==

A premium grade commercial office development on a landmark Sydney CBD site. Key to the design is the innovative tenancy "villages" concept. The tower comprises seven unique villages each providing unparalled connectivity, interaction and amenity through vertical integration. The villages range in size from 1,800 to 2,650 sqm and are separated by single floors, with a total net lettable area of over 19,100 sqm.

Summary Information

Summary Information
VALUATION AS AT 31 DEC 12	$106.5M1
VALUER	SAVILLS
LAST EXTERNAL VALUATION	31 DEC 12
PROJECT COST	$154.4M2
ACQUISITION DATE	APR 06
FORECAST COMPLETION	FY14

Ownership

50% MIRVAC, 50% KEPPEL REIT

Project Update

Leasing program commenced. Agreement for lease executed on 16th December 2011 with Corrs Chambers Westgarth to lease 8,080 square metres (42% of net lettable area). All Construction Certificates required for completion of the project have now been procured. Project focus is now on leasing remaining space prior to Practical Completion and discussions are currently being held with potential tenants.

1. REPRESENTS MIRVAC'S OWNERSHIP.

2. REPRESENTS MIRVAC'S OWNERSHIP OF TOTAL PROJECT, INCLUDING LAND AND INTEREST COSTS.

PROPERTY COMPENDIUM 31 DECEMBER 2012

200 GEORGE STREET

SYDNEY, NSW

==> picture [193 x 122] intentionally omitted <==

The 200 George Street development site is located at the northern end of the Sydney CBD in a key location and incorporates three existing buildings, being 190 & 200 George Street and 4 Dalley Street. The completed office tower will comprise approximately 38,000sqm of net lettable area over 32 office levels and 63 tenant car spaces. The development is targeting a 6 Star Green Star Design rating and 5 Star NABERS Energy rating and aims to achieve a PCA “Premium Grade” rating.

Summary Information	Summary Information
VALUATION AS AT 31 DEC 12		$75.2M
VALUER		COLLIERS
LAST EXTERNAL VALUATION		31 DEC 12
PROJECT COST		$548.6M1
ACQUISITION DATE		AUG 03
FORECAST COMPLETION		FY16
	Ownership

100% MIRVAC

Project Update

The major site establishment works commenced in January 13 in preparation for physical demolition to commence in February 13. Secured an anchor tenant at 200 George Street, Sydney with Ernst & Young agreeing to lease 74 percent of the building's net lettable area for a 10 year term.

1. REPRESENTS MIRVAC'S OWNERSHIP OF TOTAL PROJECT, INCLUDING LAND AND INTEREST COSTS.

PROPERTY COMPENDIUM 31 DECEMBER 2012

699 BOURKE STREET

MELBOURNE, VIC

==> picture [193 x 109] intentionally omitted <==

The 699 Bourke St development is located at the northern end of the 664 Collins St development deck (this site forms part of an air rights development above the western edge of Melbourne's major transport hub - Southern Cross Station). The total proposed building area is 18,644sqm of net lettable area.

Summary Information

VALUATION AS AT 31 DEC 12 N/A VALUER N/A LAST EXTERNAL VALUATION N/A PROJECT COST $115.2M[1.] ACQUISITION DATE SEP 07 FORECAST COMPLETION FY15

Ownership

100% MIRVAC

Project Update

AGL have signed a Heads of Agreement to lease 15,000sqm (80% of net lettable area). Design Development has commenced in conjunction with AFL negotiations which are scheduled to be finalised mid 2013.

1. REPRESENTS MIRVAC'S OWNERSHIP OF TOTAL PROJECT, INCLUDING LAND AND INTEREST COSTS.

PROPERTY COMPENDIUM 31 DECEMBER 2012

664 COLLINS STREET

MELBOURNE, VIC

==> picture [193 x 122] intentionally omitted <==

The Collins Street development is located at the southern end of the development deck (this site forms part of an air rights development that sits above the western edge of Melbourne's major transport hub - Southern Cross Station). The total proposed building area is 27,274sqm.

Summary Information

VALUATION AS AT 31 DEC 12 N/A VALUER N/A LAST EXTERNAL VALUATION N/A PROJECT COST $161.6M[1.] ACQUISITION DATE SEP 07 FORECAST COMPLETION FY18

Ownership

100% MIRVAC

Project Update

Town Planning approval documentation has been submitted and construction cost estimates have been completed. Ongoing discussions with possible tenants are continuing.

1. REPRESENTS MIRVAC'S OWNERSHIP OF TOTAL PROJECT, INCLUDING LAND AND INTEREST COSTS.

PROPERTY COMPENDIUM 31 DECEMBER 2012

TREASURY BUILDING, CNR BARRACK STREET & ST GEORGES TERRACE

PERTH, WA

==> picture [193 x 122] intentionally omitted <==

The Treasury Building will comprise approximately. 30,000sqm of net lettable area split over 33 levels and will target a 4.5 star NABERS rating and 5 Star Green Star rating. The tower is fully committed to the WA Government for a 25 year lease term.

Summary Information

Summary Information
VALUATION AS AT 31 DEC 12	N/A
VALUER	N/A
LAST EXTERNAL VALUATION	N/A
PROJECT COST	$140.0M1
ACQUISITION DATE	JUL 12
FORECAST COMPLETION	FY15

Ownership

50% MIRVAC, 50% KEPPEL REIT[1]

Project Update

Satisfaction of Conditions Precedent and Mirvac's settlement occurred on 2nd July 2012. Demolition complete. In ground works currently underway with piling and ground anchoring taking place. The conditional sale contract for the joint venture entered into between MPT and Keppel REIT is now unconditional.

1. REPRESENTS MIRVAC'S OWNERSHIP OF TOTAL PROJECT, INCLUDING LAND AND INTEREST COSTS POST KEPPEL REIT ACQUISITION WHICH IS DUE TO SETTLE ON 28 MARCH 2013.

PROPERTY COMPENDIUM 31 DECEMBER 2012

Disclaimer

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

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

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

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

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

depending upon performance. Mirvac Funds Limited is a wholly owned subsidiary of Mirvac Limited.

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

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

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

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

The information contained in this Property Compendium is dated 31 December 2012, unless otherwise stated.

PROPERTY COMPENDIUM 31 DECEMBER 2012

Contact Details

by mirvac

Phone:

+61 2 9080 8000

email:

investor_relations@mirvac.com

==> picture [116 x 13] intentionally omitted <==

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

20 Bond Street, Sydney, NSW
----- End of picture text -----

Twitter: @mirvac IR