MIRVAC GROUP - Management Reports 2018

Reimagine Urban Life 09.08.2018 FY18 PROPERTY COMPENDIUM

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INVESTMENT OVERVIEW

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101-103 MILLER STREET, SYDNEY
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Mirvac manages a diverse portfolio of investment assets across the office, industrial and retail sectors, leased to quality tenants including leading Australian and international companies.

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

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

INVESTMENT OVERVIEW

PROPERTY PORTFOLIO

as at 30 June 2018

	NO. OF	BOOK VALUE	GLA/NLA	WALE	OCCUPANCY	CAP RATE
TYPE OF PROPERTY	PROPERTIES	($m)2	(sqm)	(years)	(%)	(%)
OFFICE	28	5,718	641,808	6.6	97.5	5.69
INDUSTRIAL	17	809	431,980	7.1	100.0	6.19
RETAIL	17	3,223	419,262	3.8	99.2	5.49
SUBTOTAL	621	9,7501	1,493,050	5.6	98.7	5.66
OTHER INVESTMENTS	n/a	264	n/a	n/a	n/a	n/a
TOTAL PORTFOLIO	621	10,0141	1,493,050	5.6	98.7	5.66

PROPERTY PORTFOLIO DIVERSIFICATION

SECTOR DIVERSIFICATION[3]

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Office 59%
Industrial 8%
Retail 33%
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GEOGRAPHIC DIVERSIFICATION[4]

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NSW 65%
VIC 16%
QLD 11%
WA 5%
ACT 3%
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LEASE EXPIRY PROFILE[5]

TOTAL PORTFOLIO

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50%
45%
1,493,050 sqm
40% WALE 5.6 years
30%
20%
10% 11% 11% 12% 10% 9%
2%
VACANT FY19 FY20 FY21 FY22 FY23 FY24+
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OFFICE PORTFOLIO

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60%
55%
641,808 sqm
50%
WALE 6.6 years
40%
30%
20%
11% 12%
10% 7% 7%
5%
3%
VACANT FY19 FY20 FY21 FY22 FY23 FY24+
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INDUSTRIAL PORTFOLIO

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50%
46%
431,980 sqm
40% WALE 7.1 years
30%
20%
17%
15%
11%
10%
7%
4%
0%
VACANT FY19 FY20 FY21 FY22 FY23 FY24+
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RETAIL PORTFOLIO

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40%
419,262 sqm
WALE 3.8 years
30% 29%
22%
20%
15%
12%
10% 11%
10%
1%
VACANT FY19 FY20 FY21 FY22 FY23 FY24+
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Portfolio number and value includes investment properties under construction (IPUC).
Subject to rounding
By book value, excludes other investments.
By book value, excludes other investments. IPUC and properties being held for development.
By income, excludes other investments. IPUC and properties being held for development.

OFFICE

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8 CHIFLEY SQUARE, SYDNEY
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Comprising 59% of Mirvac’s property portfolio, the office portfolio is focused on the core markets of Sydney and Melbourne and has a weighted average lease expiry of 6.6 years.

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

OFFICE

GRADE DIVERSIFICATION[1]

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Premium 35% A Grade 61% B Grade 0% C Grade 4%

GEOGRAPHIC DIVERSIFICATION[1]

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Sydney 58% Melbourne 26% Perth 8% Brisbane 3% Canberra 5%

				% OF OFFICE	GROSS	VALUATION
				PORTFOLIO	OFFICE	AT 30 JUNE	NABERS
	PROPERTY	LOCATION	NLA	BOOK VALUE2	RENT	20183	RATING
1	101-103 MILLER STREET	NORTH SYDNEY, NSW	37,455 SQM	4.6%	$914/SQM	$255.5m	4.5 Star
2	40 MILLER STREET	NORTH SYDNEY, NSW	12,611 SQM	2.7%	$845/SQM	$151.0m	5.0 Star
3	10-20 BOND STREET	SYDNEY, NSW	38,271 SQM	5.3%	$1,006/SQM	$290.0m	5.0 Star
4	200 GEORGE STREET	SYDNEY, NSW	38,983 SQM	8.0%	$1,287/SQM	$442.0m	5.5 Star
5	275 KENT STREET	SYDNEY, NSW	75,868 SQM	13.1%	$1,009/SQM	$720.5m	5.0 Star
6	60 MARGARET STREET	SYDNEY, NSW	39,560 SQM	5.1%	$934/SQM	$280.6m	4.0 Star
7	37 PITT STREET	SYDNEY, NSW	12,138 SQM	1.6%	$621/SQM	$87.0m	3.0 Star
8	51 PITT STREET	SYDNEY, NSW	4,986 SQM	0.6%	$679/SQM	$35.5m	2.5 Star
9	6-8 UNDERWOOD STREET	SYDNEY, NSW	3,251 SQM	0.3%	$578/SQM	$18.5m	3.5 Star
10	QUAY WEST CAR PARK, 109-111 HARRINGTON STREET	SYDNEY, NSW	398 SQM	0.7%		$38.2m
11	75 GEORGE STREET	PARRAMATTA, NSW	9,569 SQM	1.6%	$575/SQM	$87.6m	4.0 Star
12	1 DARLING ISLAND	PYRMONT, NSW	22,197 SQM	5.1%	$762/SQM	$282.9m	5.5 Star
13	65 PIRRAMA ROAD	PYRMONT, NSW	15,941 SQM	2.8%	$736/SQM	$155.0m	6.0 Star
14	699 BOURKE STREET	MELBOURNE, VIC	19,303 SQM	1.9%	$674/SQM	$102.0m	5.0 Star
15	90 COLLINS STREET	MELBOURNE, VIC	21,308 SQM	4.2%	$692/SQM	$232.4m	4.0 Star
16	367 COLLINS STREET	MELBOURNE, VIC	37,163 SQM	6.0%	$655/SQM	$327.8m	4.0 Star
17	664 COLLINS STREET	MELBOURNE, VIC	23,296 SQM	2.5%	$623/SQM	$138.0m
18	380 ST KILDA ROAD	MELBOURNE, VIC	24,554 SQM	3.2%	$500/SQM	$175.8m	5.0 Star
19	RIVERSIDE QUAY	SOUTHBANK, VIC	31,696 SQM	5.0%	$585/SQM	$272.6m	4.5 Star
20	2 RIVERSIDE QUAY	SOUTHBANK, VIC	21,132 SQM	2.3%	$638/SQM	$128.8m	5.0 Star
21	23 FURZER STREET	PHILLIP, ACT	46,167 SQM	5.0%	$510/SQM	$267.8m	6.0 Star
22	340 ADELAIDE STREET	BRISBANE, QLD	12,948 SQM	1.2%	$562/SQM	$65.0m	3.5 Star
23	189 GREY STREET	SOUTHBANK, QLD	12,729 SQM	1.5%	$550/SQM	$84.6m	3.5 Star
24	ALLENDALE SQUARE, 77 ST GEORGES TERRACE	PERTH, WA	29,054 SQM	4.4%	$916/SQM	$243.3m	4.0 Star
	*OFFICE INVESTMENT PROPERTIES TOTAL*		*590,578 SQM*	*91.7%4*		*$5,044.9m4*
25	AUSTRALIAN TECHNOLOGY PARK, LOCOMOTIVE STREET	REDFERN, NSW				$121.9m
26	477 COLLINS STREET	MELBOURNE, VIC				$94.5m
	*OFFICE INVESTMENT PROPERTIES UNDER CONSTRUCTION TOTAL*					*$216.4m*
	*OFFICE INVESTMENT PROPERTIES AND INVESTMENT PROPERTIES UNDER* *CONSTRUCTION TOTAL*		*590,578 SQM*			*$5,261.3m4*
	INVESTMENT IN JOINT VENTURES
27	8 CHIFLEY SQUARE	SYDNEY, NSW	19,349 SQM	4.4%	$1,505/SQM	$242.3m	5.0 Star
28	DAVID MALCOLM JUSTICE CENTRE, 28 BARRACK STREET	PERTH, WA	31,881 SQM	3.9%	$907/SQM	$214.7m	5.0 Star
	*INVESTMENTS IN JOINT VENTURES TOTAL*		*51,230 SQM*	*8.3%*		*$457.0m*
	OFFICE TOTAL		641,808 SQM	100.0%4		$5,718.3m4

	WEIGHTED AVERAGE LEASE EXPIRY (BY INCOME)					6.6 YEARS
	OCCUPANCY % (BY AREA)					97.5%

By book value excluding IPUC, 55 Coonara Avenue, and Australian Technology Park Locomotive Workshop, both being held for development.
Excludes office properties under development.
Book values represent Mirvac’s ownership.
This total value includes 55 Coonara Avenue West Pennant Hills, valued at $78.0m, and Australian Technology Park Locomotive Workshop, valued at $84.5m, which are being held for development. These assets are excluded from all other metrics. Subject to rounding.

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Investment Property

Office

101-103 MILLER STREET

NORTH SYDNEY, NSW

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This landmark premium grade office tower and major retail centre is located above Greenwood Plaza in the heart of the North Sydney CBD, with a direct link to North Sydney Railway Station. The complex was built in 1992 and underwent major refurbishment in 2008. The only premium grade office tower in North Sydney, it has achieved a 5 Star Green Star rating and a 4.5 Star NABERS Energy rating

Summary Information
GRADE	PREMIUM
NABERS Rating	4.5 Star
OWNERSHIP	50% Mirvac, 50% TIAA Henderson Real Estate
NLA	37,455 SQM
CAR SPACES	231
ACQUISITION DATE	Jun-94
LAST EXTERNAL VALUATION DATE	31-Dec-17
VALUATION AT 30 JUN 18	$255.5m1
VALUER	Directors Valuation
CAPITALISATION RATE	5.75%
DISCOUNT RATE	7.00%
GROSS OFFICE RENT	$914/SQM

Major Tenants NLA SQM	Lease Expiry
Commonwealth of Australia 10,324	Nov-26
Genworth Financial Mortgage Insurance 5,898	Jul-23

Lease Expiry Profile % Income
VACANCY 7.1%
FY19 1.6%
FY20 0.2%
FY21 3.0%
FY22 17.3%
FY23 0.5%
FY24+ 70.3%
WALE 6.7 YEARS

Book value represents Mirvac's ownership

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Investment Property

Office

40 MILLER STREET

NORTH SYDNEY, NSW

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

Summary Information
GRADE	A
NABERS Rating	5.0 Star
OWNERSHIP	100%
NLA	12,611 SQM
CAR SPACES	103
ACQUISITION DATE	Mar-98
LAST EXTERNAL VALUATION DATE	30-Jun-18
VALUATION AT 30 JUN 18	$151.0m
VALUER	Savills
CAPITALISATION RATE	6.25%
DISCOUNT RATE	7.00%
GROSS OFFICE RENT	$845/SQM

Major Tenants NLA SQM	Lease Expiry
UGL Limited 7,703	Nov-20
InvoCare Australia Pty Ltd 1,658	May-21

Lease Expiry Profile % Income
VACANCY 0.3%
FY19 1.2%
FY20 0.0%
FY21 76.0%
FY22 12.1%
FY23 0.7%
FY24+ 9.7%
WALE 2.9 YEARS

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Investment Property

Office

10-20 BOND STREET

SYDNEY, NSW

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Following a $60 million transformation, 10-20 Bond Street delivers a powerful blend of modern style and function. An A-grade office building with premium grade services, this efficient commercial office tower provides regularly shaped floor plates throughout, inviting natural light to permeate the workspaces and showcase the impressive cityscape and harbour views. The building has achieved a 4 Star Green Star design rating, and a 5 Star NABERS Energy rating.

Summary Information
GRADE	A
NABERS Rating	5.0 Star
OWNERSHIP	50% Mirvac, 50% Investa
NLA	38,271 SQM
CAR SPACES	150
ACQUISITION DATE	Dec-09
LAST EXTERNAL VALUATION DATE	30-Jun-18
VALUATION AT 30 JUN 18	$290.0m1
VALUER	Knight Frank
CAPITALISATION RATE	5.25%
DISCOUNT RATE	6.75%
GROSS OFFICE RENT	$1,006/SQM

Major Tenants NLA SQM	Lease Expiry
Fitness First Australia Pty Ltd 4,445	Mar-24
Origin Energy Services Limited 3,746	Nov-19

Lease Expiry Profile % Income
VACANCY 4.5%
FY19 20.2%
FY20 9.3%
FY21 29.9%
FY22 13.3%
FY23 8.0%
FY24+ 14.8%
WALE 2.9 YEARS

Book value represents Mirvac's ownership

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Investment Property

Office

200 GEORGE STREET

SYDNEY, NSW

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Completed in 2016, EY Centre is an iconic Premium-grade office tower, designed by award winning architects FrancisJones Moreen Throp. The distinctive appearance of a closed cavity facade with timber blinds are a world first. The tower is one of the first 'smart' office buildings in Australia, with market leading technology that adjusts the internal environment to meet the needs of tenants. In March 2017, Mirvac received Australiaʼs first Gold WELL-certification for its tenancy at 200 George Street, in addition to a 6 Star Green Star Interior rating. The building has achieved a 6 Green Star As-Built rating, and a 5.5 Star NABERS rating.

Summary Information
GRADE	PREMIUM
NABERS Rating	5.5 Star
OWNERSHIP	50% Mirvac, 50% AMP
NLA	38,983 SQM
CAR SPACES	64
ACQUISITION DATE	Jun-16
LAST EXTERNAL VALUATION DATE	31-Dec-16
VALUATION AT 30 JUN 18	$442.0m1
VALUER	Directors Valuation
CAPITALISATION RATE	5.00%
DISCOUNT RATE	6.75%
GROSS OFFICE RENT	$1,287/SQM

Major Tenants2 NLA SQM	Lease Expiry
Ernst & Young 25,850	Dec-26
AGL Energy 3,457	Jun-29

Lease Expiry Profile % Income
VACANCY 0.0%
FY19 0.0%
FY20 0.0%
FY21 0.0%
FY22 0.0%
FY23 7.6%
FY24+ 92.4%
WALE 8.3 YEARS

Book value represents Mirvac's ownership
Excludes Mirvac tenancy

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Investment Property

Office

275 KENT STREET

SYDNEY, NSW

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Completed in 2006, Westpac Place is one of the largest office buildings in Australia and is located in the fast growing north-western corridor of the Sydney CBD. The winner of numerous property industry awards, it provides premium grade office accommodation and is the head office of Westpac Banking Corporation. The precinct also includes a sunfilled urban park available for public use, a food court, childcare facilities and a public thoroughfare linking Darling Harbour to the Wynyard transport hub. The building features state-of-the-art technology to minimise environmental impacts and reduce energy costs, and has a 6 Star Green Star Performance rating, and a 5 Star NABERS Energy rating.

Summary Information
GRADE	PREMIUM
NABERS Rating	5.0 Star
OWNERSHIP	50% Mirvac, 50% ISPT
NLA	75,868 SQM
CAR SPACES	214
ACQUISITION DATE	Aug-10
LAST EXTERNAL VALUATION DATE	31-Dec-17
VALUATION AT 30 JUN 18	$720.5m1
VALUER	Directors Valuation
CAPITALISATION RATE	5.00%
DISCOUNT RATE	6.75%
GROSS OFFICE RENT	$1,009/SQM

Major Tenants NLA SQM	Lease Expiry
Westpac (L1-23) 58,462	Oct-30
Westpac (L24-32) 16,131	Jul-24

Lease Expiry Profile % Income
VACANCY 0.0%
FY19 1.3%
FY20 0.0%
FY21 0.2%
FY22 0.0%
FY23 0.0%
FY24+ 98.5%
WALE 10.6 YEARS

Book value represents Mirvac's ownership

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Investment Property

Office

60 MARGARET STREET

SYDNEY, NSW

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This A-grade building is situated in the heart of the Sydney CBD and comprises 36 levels of office accommodation and three levels of retail, with direct access to the Wynyard railway station and bus terminal. Developed in 1980, the complex has been progressively refurbished. The building has achieved a 4 Star NABERS rating.

Summary Information
GRADE	A
NABERS Rating	4.0 Star
OWNERSHIP	50% Mirvac, 50% One Managed Investment Funds Ltd
NLA	39,560 SQM
CAR SPACES	142
ACQUISITION DATE	Aug-98
LAST EXTERNAL VALUATION DATE	31-Dec-16
VALUATION AT 30 JUN 18	$280.6m1
VALUER	Directors Valuation
CAPITALISATION RATE	5.75%
DISCOUNT RATE	7.13%
GROSS OFFICE RENT	$934/SQM

Major Tenants NLA SQM	Lease Expiry
ING 10,031	May-27
Training Rooms Pty Ltd 4,171	Dec-26

Lease Expiry Profile % Income
VACANCY 10.2%
FY19 10.1%
FY20 12.3%
FY21 9.9%
FY22 6.2%
FY23 10.2%
FY24+ 41.1%
WALE 5.4 YEARS

Book value represents Mirvac's ownership

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Investment Property

Office

37 PITT STREET

SYDNEY, NSW

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37 Pitt Street is a high quality C-grade office building located in a convenient position in the harbour end of town. It lies within a few minutes' walk of Circular Quay, Martin Place, the Australian Securities Exchange, Wynyard station and more. The building underwent substantial upgrades in 1994, and features a new façade and lobby, upgraded lifts and air conditioning and refurbished floors.

Summary Information
GRADE	C
NABERS Rating	3.0 Star
OWNERSHIP	100%
NLA	12,138 SQM
CAR SPACES	93
ACQUISITION DATE	May-13
LAST EXTERNAL VALUATION DATE	30-Jun-18
VALUATION AT 30 JUN 18	$87.0m
VALUER	CBRE
CAPITALISATION RATE	6.00%
DISCOUNT RATE	7.00%
GROSS OFFICE RENT	$621/SQM

Major Tenants NLA SQM	Lease Expiry
Auscred 2,995	Aug-20
Rackspace Hosting Australia 1,078	Mar-19

Lease Expiry Profile % Income
VACANCY 0.0%
FY19 35.3%
FY20 27.0%
FY21 30.3%
FY22 2.4%
FY23 5.0%
FY24+ 0.0%
WALE 1.6 YEARS

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Investment Property

Office

51 PITT STREET

SYDNEY, NSW

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51 Pitt Street is a high quality office building, enjoying a prime corner position at the harbour end of town. It lies within a few minutes walk of Circular Quay, Martin Place, the Australian Securities Exchange, Wynyard Station and more. The building was refurbished in 1993, with further renovation of level one in 2004.

Summary Information
GRADE	C
NABERS Rating	2.5 Star
OWNERSHIP	100%
NLA	4,986 SQM
CAR SPACES	21
ACQUISITION DATE	May-13
LAST EXTERNAL VALUATION DATE	30-Jun-18
VALUATION AT 30 JUN 18	$35.5m
VALUER	CBRE
CAPITALISATION RATE	6.00%
DISCOUNT RATE	7.00%
GROSS OFFICE RENT	$679/SQM

Major Tenants NLA SQM	Lease Expiry
Mainstream Bpo Pty Limited 1,103	Sep-20
Interlinked 518	Dec-20

Lease Expiry Profile % Income
VACANCY 12.9%
FY19 21.4%
FY20 12.0%
FY21 43.8%
FY22 0.0%
FY23 9.9%
FY24+ 0.0%
WALE 2.0 YEARS

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Investment Property

Office

6-8 UNDERWOOD STREET

SYDNEY, NSW

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6-8 Underwood Street was originally purpose built for Telstra's technical operations and features floors of approximately 350 square metres. The property is located on the southern side of Underwood Street between Pitt and Dalley Streets, and lies within 200 metres of Circular Quay, George Street and Wynyard Station. It has achieved a 3.5 Star NABERS Energy rating.

Summary Information
GRADE	C
NABERS Rating	3.5 Star
OWNERSHIP	100%
NLA	3,251 SQM
CAR SPACES	-
ACQUISITION DATE	May-13
LAST EXTERNAL VALUATION DATE	30-Jun-18
VALUATION AT 30 JUN 18	$18.5m
VALUER	CBRE
CAPITALISATION RATE	6.00%
DISCOUNT RATE	7.00%
GROSS OFFICE RENT	$578/SQM

Major Tenants NLA SQM	Lease Expiry
Preacta Recruitment 345	Sep-20
RCR Tomlinson 689	Jan-20

Lease Expiry Profile % Income
VACANCY 21.2%
FY19 19.7%
FY20 33.1%
FY21 26.0%
FY22 0.0%
FY23 0.0%
FY24+ 0.0%
WALE 1.5 YEARS

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Investment Property

Office

QUAY WEST CAR PARK, 109-111 HARRINGTON STREET

SYDNEY, NSW

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

Summary Information
GRADE	n.a.
OWNERSHIP	100%
NLA	398 SQM
CAR SPACES	598
ACQUISITION DATE	Nov-89
LAST EXTERNAL VALUATION DATE	31-Dec-16
VALUATION AT 30 JUN 18	$38.2m
VALUER	Directors Valuation
CAPITALISATION RATE	6.75%
DISCOUNT RATE	8.50%

Major Tenants NLA SQM	Lease Expiry
Wilson Parking -	Aug-19
S&S (NSW) Pty Ltd 268	Feb-23

Lease Expiry Profile % Income
VACANCY 0.0%
FY19 0.0%
FY20 89.9%
FY21 0.0%
FY22 0.0%
FY23 7.3%
FY24+ 2.8%
WALE 1.7 YEARS

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Investment Property

Office

75 GEORGE STREET

PARRAMATTA, NSW

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75 George Street is an A-grade twin tower comprising of six levels. Prominently positioned in the heart of Parramatta CBD, at the intersection of George Street and Smith Street, the asset benefits from being located between the traditional centre of Parramatta, and the new development precinct concentrated around Parramatta Square and train station. The building has achieved a 4 star NABERS Energy rating and a 4 star NABERS Water rating.

Summary Information
GRADE	A
NABERS Rating	4.0 Star
OWNERSHIP	100%
NLA	9,569 SQM
CAR SPACES	105
ACQUISITION DATE	Jan-18
LAST EXTERNAL VALUATION DATE	-
VALUATION AT 30 JUN 18	$87.6m
VALUER	Directors Valuation
CAPITALISATION RATE	5.75%
DISCOUNT RATE	7.00%
GROSS OFFICE RENT	$575/SQM

Major Tenants NLA SQM	Lease Expiry
St George Bank 6,486	Jun-20
HCF 1,888	Apr-23

Lease Expiry Profile % Income
VACANCY 1.1%
FY19 0.0%
FY20 72.6%
FY21 4.8%
FY22 1.9%
FY23 19.2%
FY24+ 0.4%
WALE 2.6 YEARS

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Investment Property

Office

1 DARLING ISLAND

PYRMONT, NSW

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

Summary Information
GRADE	A
NABERS Rating	5.5 Star
OWNERSHIP	100%
NLA	22,197 SQM
CAR SPACES	160
ACQUISITION DATE	Apr-04
LAST EXTERNAL VALUATION DATE	31-Dec-17
VALUATION AT 30 JUN 18	$282.9m
VALUER	Directors Valuation
CAPITALISATION RATE	5.50%
DISCOUNT RATE	6.75%
GROSS OFFICE RENT	$762/SQM

Major Tenants NLA SQM	Lease Expiry
Google1 22,197	Jun-27

Lease Expiry Profile % Income
VACANCY 0.0%
FY19 0.0%
FY20 0.0%
FY21 0.0%
FY22 0.2%
FY23 0.0%
FY24+ 99.8%
WALE 9.0 YEARS

1.. Direct lease is to Fairfax, with Google subleasing until 2020

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Investment Property

Office

65 PIRRAMA ROAD

PYRMONT, NSW

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Developed by Mirvac in 2002 and located next to Darling Harbour and The Star casino, 65 Pirrama Road is an A- grade, waterfront commercial office complex, comprising five office levels. Also known as Bay Centre, the building has large floor plates in excess of 3,000 square metres each, and offers tenants a flexible and modern working environment with city and harbour views from all levels. The building has achieved a 6.0 Star NABERS Energy rating and a 4 star NABERS water rating.

Summary Information
GRADE	A
NABERS Rating	6.0 Star
OWNERSHIP	100%
NLA	15,941 SQM
CAR SPACES	123
ACQUISITION DATE	Jun-01
LAST EXTERNAL VALUATION DATE	30-Jun-18
VALUATION AT 30 JUN 18	$155.0m
VALUER	Savills
CAPITALISATION RATE	5.88%
DISCOUNT RATE	7.00%
GROSS OFFICE RENT	$736/SQM

Major Tenants NLA SQM	Lease Expiry
John Holland Pty Ltd 6,243	Dec-19
Aust Communications & Media Authority 3,289	Feb-21

Lease Expiry Profile % Income
VACANCY 1.7%
FY19 0.6%
FY20 50.3%
FY21 21.9%
FY22 4.8%
FY23 0.0%
FY24+ 20.7%
WALE 2.9 YEARS

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Investment Property

Office

699 BOURKE STREET

MELBOURNE, VIC

==> picture [204 x 129] intentionally omitted <==

Developed by Mirvac and completed in mid-2015, 699 Bourke Street is located at the western edge of Southern Cross Station and affords direct access to transport, food and lifestyle amenities, with the Docklands waterfront within minutes from the front door. The A-grade building is designed to provide premium grade services and promote visual and vertical connectivity for employees, boasting 270 degree views and natural light provided via floor to ceiling glazing. The building has received a 6 Star Green Star Design rating and a 5 Star NABERS Energy rating.

Summary Information	Summary Information
GRADE A
NABERS Rating 5.0 Star
OWNERSHIP 50% Mirvac, 50% Prime Property Fund Asia Limited Partnership
NLA	19,303 SQM
CAR SPACES	86
ACQUISITION DATE	Jun-15
LAST EXTERNAL VALUATION DATE	30-Jun-18
VALUATION AT 30 JUN 18	$102.0m1
VALUER	URBIS
CAPITALISATION RATE	5.25%
DISCOUNT RATE	6.50%
GROSS OFFICE RENT	$674/SQM

Major Tenants NLA SQM	Lease Expiry
AGL Energy 19,303	May-25
Secure Parking -	Jul-20

Lease Expiry Profile % Income
VACANCY 0.0%
FY19 0.0%
FY20 0.0%
FY21 3.2%
FY22 0.0%
FY23 0.0%
FY24+ 96.8%
WALE 6.8 YEARS

Book value represents Mirvac's ownership

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Investment Property

Office

90 COLLINS STREET

MELBOURNE, VIC

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

Summary Information
GRADE	A
NABERS Rating	4.0 Star
OWNERSHIP	100%
NLA	21,308 SQM
CAR SPACES	111
ACQUISITION DATE	May-13
LAST EXTERNAL VALUATION DATE	31-Dec-16
VALUATION AT 30 JUN 18	$232.4m
VALUER	Directors Valuation
CAPITALISATION RATE	5.75%
DISCOUNT RATE	7.25%
GROSS OFFICE RENT	$692/SQM

Major Tenants NLA SQM	Lease Expiry
Whitbread Associates Pty Ltd 1,461	Dec-24
FBR Management Services 1,594	Mar-23

Lease Expiry Profile % Income
VACANCY 1.0%
FY19 3.8%
FY20 21.7%
FY21 14.1%
FY22 16.3%
FY23 24.2%
FY24+ 18.9%
WALE 3.6 YEARS

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Investment Property

Office

367 COLLINS STREET

MELBOURNE, VIC

==> picture [204 x 129] intentionally omitted <==

367 Collins Street is ideally located in the centre of the Melbourne CBD, close to public transport, retail, the theatre and arts district and is a short tram ride to the MCG and Etihad Stadium. Located within the heart of Melbourne's financial precinct and close to the legal and government sectors, the tower offers spectacular views of the Yarra River and is five minutes walk to Flinders Street Station. The building has achieved a 4 Star NABERS rating.

Summary Information
GRADE	A
NABERS Rating	4.0 Star
OWNERSHIP	100%
NLA	37,163 SQM
CAR SPACES	180
ACQUISITION DATE	Nov-13
LAST EXTERNAL VALUATION DATE	31-Dec-16
VALUATION AT 30 JUN 18	$327.8m
VALUER	Directors Valuation
CAPITALISATION RATE	5.88%
DISCOUNT RATE	7.25%
GROSS OFFICE RENT	$655/SQM

Major Tenants NLA SQM	Lease Expiry
Sportsbet Pty Ltd 12,105	Jun-23
Optus Administration Pty Ltd 8,922	Jul-23

Lease Expiry Profile % Income
VACANCY 6.2%
FY19 4.0%
FY20 3.2%
FY21 4.0%
FY22 5.7%
FY23 36.8%
FY24+ 40.1%
WALE 4.8 YEARS

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Investment Property

Office

664 COLLINS STREET

MELBOURNE, VIC

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Developed by Mirvac and completed in 2018, 664 Collins Street provides 26,000 square metres of office space across nine levels, with expansive floor plates of over 3,100 square metres. In its unique urban location above Southern Cross Station, 664 Collins Street provides its tenants with uninterrupted city views on all sides, as well as pedestrian access to the station, major tram routes, and both Collins and Bourke streets through a unique elevated open-air public walkway. The building is equipped with smart technology that collects real-time data to improve operational efficiency, as well as pioneering sustainability features. A 6 Star Green Star Design and 5 Star NABERS Energy rating are being targeted. The building also boasts best in class end-of-trip facilities exclusive to its tenants, along with onsite car parking.

Summary Information	Summary Information
GRADE A
NABERS Rating -
OWNERSHIP 50% Mirvac, 50% Prime Property Fund Asia Limited Partnership
NLA	23,296 SQM
CAR SPACES	101
ACQUISITION DATE	Apr-18
LAST EXTERNAL VALUATION DATE	30-Jun-18
VALUATION AT 30 JUN 18	$138.0m1
VALUER	URBIS
CAPITALISATION RATE	5.13%
DISCOUNT RATE	6.50%
GROSS OFFICE RENT	$623/SQM

Major Tenants NLA SQM	Lease Expiry
Pitcher Partners 9,086	Jun-30
ExxonMobil 7,360	Apr-28

Lease Expiry Profile % Income
VACANCY 0.0%
FY19 0.0%
FY20 0.0%
FY21 3.8%
FY22 0.0%
FY23 0.0%
FY24+ 96.2%
WALE 9.6 YEARS

Book value represents Mirvac's ownership

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Investment Property

Office

380 ST KILDA ROAD

MELBOURNE, VIC

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This 15-level, A-grade office building comprises six podium levels of up to 2,800 square metres each, with tower floors of 1,200 square metres each. Prominently located at the city end of St Kilda Road and opposite the Royal Botanic Gardens, the building has excellent natural light and views to Port Phillip Bay. The building has achieved a 5 Star NABERS Energy rating and a 4.5 star NABERS Water rating.

Summary Information
GRADE	A
NABERS Rating	5.0 Star
OWNERSHIP	100%
NLA	24,554 SQM
CAR SPACES	480
ACQUISITION DATE	Oct-95 (50%) Apr-01 (50%)
LAST EXTERNAL VALUATION DATE	30-Jun-18
VALUATION AT 30 JUN 18	$175.8m
VALUER	CBRE
CAPITALISATION RATE	6.00%
DISCOUNT RATE	6.75%
GROSS OFFICE RENT	$500/SQM

Major Tenants NLA SQM	Lease Expiry
Toll Transport Pty Ltd 6,865	Nov-20
WPP AUNZ 3,813	Jun-22

Lease Expiry Profile % Income
VACANCY 1.7%
FY19 1.3%
FY20 14.0%
FY21 43.3%
FY22 20.4%
FY23 14.0%
FY24+ 5.3%
WALE 3.2 YEARS

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Investment Property

Office

RIVERSIDE QUAY

SOUTHBANK, VIC

==> picture [204 x 129] intentionally omitted <==

Riverside Quay is a modern A-grade office complex comprising three individual buildings, ideally situated along the riverfront of Southbank, directly across from Melbourne's CBD. Enjoying panoramic views of the city, Riverside Quay is in close proximity to strong public transport links and excellent amenity, with Flinders Street Station, the Crown Entertainment Complex, Southgate and extensive dining precincts situated in the nearby area. The buildings have achieved a NABERS rating of between 4-4.5 stars.

Summary Information
GRADE	A
NABERS Rating	4.5 Star
OWNERSHIP	100%
NLA	31,696 SQM
CAR SPACES	105
ACQUISITION DATE	Apr-02 (1 & 3) Jul-03 (2)
LAST EXTERNAL VALUATION DATE	31-Dec-17
VALUATION AT 30 JUN 18	$272.6m
VALUER	Directors Valuation
CAPITALISATION RATE	6.00%
DISCOUNT RATE	7.25%
GROSS OFFICE RENT	$585/SQM

Major Tenants NLA SQM	Lease Expiry
Walker Group Holdings 4,662	Dec-22
STA Travel 1,566	Oct-19

Lease Expiry Profile % Income
VACANCY 6.6%
FY19 14.1%
FY20 16.4%
FY21 4.3%
FY22 10.7%
FY23 22.5%
FY24+ 25.4%
WALE 4.2 YEARS

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Investment Property

Office

2 RIVERSIDE QUAY

SOUTHBANK, VIC

==> picture [204 x 129] intentionally omitted <==

Developed by Mirvac and completed in 2016, 2 Riverside Quay is an A-grade office building located along the waterfront of Southbank, directly across from Melbourne's CBD. The office development was built above an existing eight-level car park structure and comprises 12 levels of office with ground floor retail and a roof top terrace. Leading sustainability initiatives were implemented within the building, including high-performance air conditioning, rainwater capture and recycling, and the use of high-performance glazing and facade systems to reduce solar loads. The building is targeting a 5 Star Green Star As-Built rating and has achieved a 5 Star NABERS Energy rating.

Summary Information
GRADE	A
NABERS Rating	5.0 Star
OWNERSHIP	50% Mirvac, 50% ISPT
NLA	21,132 SQM
CAR SPACES	567
ACQUISITION DATE	Dec-16
LAST EXTERNAL VALUATION DATE	30-Jun-17
VALUATION AT 30 JUN 18	$128.8m1
VALUER	Directors Valuation
CAPITALISATION RATE	5.25%
DISCOUNT RATE	7.00%
GROSS OFFICE RENT	$638/SQM

Major Tenants NLA SQM	Lease Expiry
PwC 19,237	Jan-29
Fender Katsalidis 1,874	Mar-27

Lease Expiry Profile % Income
VACANCY 0.0%
FY19 0.0%
FY20 0.0%
FY21 0.0%
FY22 0.7%
FY23 1.4%
FY24+ 97.9%
WALE 10.3 YEARS

Book value represents Mirvac's ownership

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Investment Property

Office

23 FURZER STREET

PHILLIP, ACT

==> picture [204 x 129] intentionally omitted <==

Completed in 2010, this campus style office building was purpose built for the Department of Health and Ageing and comprises 10 office levels with floors of approximately 4,500 square metres each, as well as two levels of basement parking. The building has achieved a 6 Star NABERS Energy rating, a 6 star NABERS Water rating and a 6 Star GREEN star performance rating v1.2

Summary Information
GRADE	A
NABERS Rating	6.0 Star
OWNERSHIP	100%
NLA	46,167 SQM
CAR SPACES	374
ACQUISITION DATE	Feb-10
LAST EXTERNAL VALUATION DATE	31-Dec-16
VALUATION AT 30 JUN 18	$267.8m
VALUER	Directors Valuation
CAPITALISATION RATE	6.75%
DISCOUNT RATE	7.50%
GROSS OFFICE RENT	$510/SQM

Major Tenants NLA SQM	Lease Expiry
Department of Health and Ageing 45,967	Feb-25
Blue Fez Pty Ltd 200	Feb-21

Lease Expiry Profile % Income
VACANCY 0.0%
FY19 0.0%
FY20 0.0%
FY21 0.4%
FY22 0.0%
FY23 0.0%
FY24+ 99.6%
WALE 6.6 YEARS

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Investment Property

Office

340 ADELAIDE STREET

BRISBANE, QLD

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Located in the heart of the Brisbane CBD within a short walk to Central Station, 340 Adelaide Street is a modern 16level, A-grade office building with two levels of basement parking. Floors are column-free and enjoy four sides of natural light, with balconies featured on selected floors.

Summary Information
GRADE	A
NABERS Rating	3.5 Star
OWNERSHIP	100%
NLA	12,948 SQM
CAR SPACES	100
ACQUISITION DATE	Dec-09
LAST EXTERNAL VALUATION DATE	30-Jun-18
VALUATION AT 30 JUN 18	$65.0m
VALUER	Savills
CAPITALISATION RATE	7.25%
DISCOUNT RATE	7.75%
GROSS OFFICE RENT	$562/SQM

Major Tenants NLA SQM	Lease Expiry
Cerebral Palsy League of Queensland 1,269	Aug-23
Oracle 908	Mar-21

Lease Expiry Profile % Income
VACANCY 22.4%
FY19 7.3%
FY20 23.0%
FY21 16.0%
FY22 6.0%
FY23 0.0%
FY24+ 25.3%
WALE 2.5 YEARS

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Investment Property

Office

189 GREY STREET

SOUTHBANK, QLD

==> picture [204 x 129] intentionally omitted <==

Developed by Mirvac in 2005, this 12-level complex features large efficient floor plates of approximately 1,600 square metres each, with excellent natural light and spectacular river and city views.

Summary Information
GRADE	A
NABERS Rating	3.5 Star
OWNERSHIP	100%
NLA	12,729 SQM
CAR SPACES	142
ACQUISITION DATE	Apr-04
LAST EXTERNAL VALUATION DATE	31-Dec-16
VALUATION AT 30 JUN 18	$84.6m
VALUER	Directors Valuation
CAPITALISATION RATE	7.00%
DISCOUNT RATE	7.50%
GROSS OFFICE RENT	$550/SQM

Major Tenants NLA SQM	Lease Expiry
Insurance Australia Limited 7,281	Mar-20
Thiess 4,659	Dec-20

Lease Expiry Profile % Income
VACANCY 0.2%
FY19 2.3%
FY20 47.1%
FY21 45.1%
FY22 0.0%
FY23 0.0%
FY24+ 5.3%
WALE 2.3 YEARS

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Investment Property

Office

ALLENDALE SQUARE, 77 ST GEORGES TERRACE

PERTH, WA

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Allendale Square is an iconic 31-level, A-grade office tower, prominently located in the heart of Perth's CBD. The office tower sits above a brand new retail arcade, which acts as a pedestrian link to Perth's central shopping mall, train station and the new Elizabeth Quay development, which, once complete, will provide water-front amenities such as restaurants, hotels, a marina and shops. The property enjoys a column-free floor plate, conference facilities and views of the Swan River from the upper levels.

Summary Information
GRADE	A
NABERS Rating	4.0 Star
OWNERSHIP	100%
NLA	29,054 SQM
CAR SPACES	82
ACQUISITION DATE	May-13
LAST EXTERNAL VALUATION DATE	31-Dec-17
VALUATION AT 30 JUN 18	$243.3m
VALUER	Directors Valuation
CAPITALISATION RATE	7.00%
DISCOUNT RATE	7.50%
GROSS OFFICE RENT	$916/SQM

Major Tenants NLA SQM	Lease Expiry
ANZ Banking Group 6,422	Sep-20
WA Bar Chambers 6,037	Jan-31

Lease Expiry Profile % Income
VACANCY 2.1%
FY19 4.9%
FY20 14.8%
FY21 27.2%
FY22 6.5%
FY23 0.5%
FY24+ 44.0%
WALE 6.5 YEARS

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Investment Property

Office

AUSTRALIAN TECHNOLOGY PARK (PROPERTY UNDER CONSTRUCTION)

REDFERN, NSW

==> picture [204 x 129] intentionally omitted <==

In November 2015, Mirvac entered into an agreement with AMP Capital Wholesale Office Fund and AMP Capital separate account client, SunSuper, for the purchase of a one-third interest each in the development of three new office buildings within the Australian Technology Park, via a fund through arrangement. Mirvac has secured the Commonwealth Bank as the major tenant for the office space. Settlement of the site acquisition occurred in April 2016, with practical completion of Building 1 and Building 3 targeted for FY19, and FY20 for Building 2.

Project Update:

Building 1 construction continues with structure works complete and topped out to Level 8. All prefabricated atrium modules are installed, facade works are complete and roof feature works are underway. Building 2 structure works are ongoing with the Mezzanine and Upper Ground structure now complete, whilst Level 1 steel erection has commenced. Within Building 3, Level 1 & 2 precast is complete, as is Level 1 steel installation, with the Level 1 slab pour commencing in early June. Work on the Public Domain is progressing well with the first stage of Eveleigh Green complete and open to the public, whilst work to Central Avenue has commenced.

VALUATION AS AT 30 JUN 18	$121.9m1
EXPECTED DEVELOPMENT VALUE ON COMPLETION	$1,015m2
ACQUISITION DATE	Apr-16
TARGET COMPLETION	FY19 & FY20
OWNERSHIP	33.3% Mirvac, 33.3% AMP, 33.3% SUNSUPER

Book value represents Mirvac's ownership
Represents 100% value

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Investment Property

Office

477 COLLINS STREET (PROPERTY UNDER CONSTRUCTION)

MELBOURNE, VIC

==> picture [204 x 129] intentionally omitted <==

477 Collins Street will be redeveloped into a 56,000 square metre, 40-storey, premium office tower offering innovative, contemporary and engaging work spaces. The development will incorporate the unique 1880s facade of the Olderfleet buildings, which will undergo an extensive refurbishment and modernisation of the interiors to create boutique office and retail space. Deloitte has committed to 26,000 square metres of office space for a 12-year term, and Norton Rose Fulbright has executed an Agreement for Lease for 5,000 square metres for a ten-year term. Practical completion is targeted for FY20. In July 2017, Mirvac entered into an agreement with Suntec REIT for the sale of a 50 per cent interest in the development.

Project Update:

All demolition, excavation and foundation works have been completed with the new concrete structural works now complete to level 10. The building is now 58% pre-leased, with interest for the balance of space remaining strong. The works are on track to reach practical completion in FY20.

Summary Information
VALUATION AT 30 JUN 18	$94.5m1
EXPECTED DEVELOPMENT VALUE ON COMPLETION	$833m2
ACQUISITION DATE	Nov-13
TARGET COMPLETION	FY20
OWNERSHIP	50% Mirvac, 50% SUNTEC REIT

Book value represents Mirvac's ownership
Represents 100% value

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Investment Property

Office

8 CHIFLEY SQUARE

SYDNEY, NSW

==> picture [204 x 129] intentionally omitted <==

8 Chifley brings to life the vision of the internationally renowned Richard Rogers of Rogers Stirk Harbour + Partners together with the Lippmann Partnership. A building for a changing world, this iconic tower pioneers the vertical village concept in Australia, delivering a flexible platform designed to support connectivity, collaboration and flexibility for its tenants. With a commitment to delivering exceptional environmental performance and sustainability, 8 Chifley has been awarded a 6 Star Green Star Office Design v2 certified rating, which represents World Leadership in environmental sustainability practices and has achieved a 5 Star NABERS Energy rating.

Summary Information
GRADE	PREMIUM
NABERS Rating	5.0 Star
OWNERSHIP	50% Mirvac, 50% Keppel REIT
NLA	19,349 SQM
CAR SPACES	29
ACQUISITION DATE	Dec-13
LAST EXTERNAL VALUATION DATE	31-Dec-17
VALUATION AT 30 JUN 18	$242.3m1
VALUER	Directors Valuation
CAPITALISATION RATE	5.00%
DISCOUNT RATE	6.63%
GROSS OFFICE RENT	$1,505/SQM

Major Tenants NLA SQM	Lease Expiry
Corrs 8,080	Sep-25
Quantium Group Pty Ltd 5,346	Sep-21

Lease Expiry Profile % Income
VACANCY 0.0%
FY19 0.7%
FY20 2.2%
FY21 0.0%
FY22 25.4%
FY23 0.0%
FY24+ 71.7%
WALE 5.6 YEARS

Book value represents Mirvac's ownership

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Investment Property

Office

DAVID MALCOLM JUSTICE CENTRE, 28 BARRACK STREET

PERTH, WA

==> picture [204 x 129] intentionally omitted <==

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

Summary Information
GRADE	PREMIUM
NABERS Rating	5.0 Star
OWNERSHIP	50% Mirvac, 50% Keppel REIT
NLA	31,881 SQM
CAR SPACES	199
ACQUISITION DATE	Sep-15
LAST EXTERNAL VALUATION DATE	31-Dec-17
VALUATION AT 30 JUN 18	$214.7m1
VALUER	Directors Valuation
CAPITALISATION RATE	5.50%
DISCOUNT RATE	7.25%
GROSS OFFICE RENT	$907/SQM

Major Tenants NLA SQM	Lease Expiry
Minister for Works 30,734	Nov-40

Lease Expiry Profile % Income
VACANCY 0.0%
FY19 0.0%
FY20 0.0%
FY21 1.6%
FY22 0.0%
FY23 0.0%
FY24+ 98.4%
WALE 22.7 YEARS

Book value represents Mirvac's ownership

INDUSTRIAL

==> picture [350 x 487] intentionally omitted <==

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

36 GOW STREET, SYDNEY
----- End of picture text -----

Comprising 8% of Mirvac’s property portfolio, the industrial portfolio is 100% occupied with a weighted average lease expiry of 7.1 years.

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

INDUSTRIAL

GEOGRAPHIC DIVERSIFICATION[1]

==> picture [82 x 82] intentionally omitted <==

Sydney 100%

				% OF
				INDUSTRIAL
				PORTFOLIO	VALUATION AT
	PROPERTY	LOCATION	NLA	BOOK VALUE2	30 JUNE 20183
1	CALIBRE BUILDING 1	EASTERN CREEK NSW	19,093 SQM	2.4%	$18.7m
2	CALIBRE BUILDING 3	EASTERN CREEK NSW	21,090 SQM	2.7%	$21.5m
3	CALIBRE BUILDING 4	EASTERN CREEK NSW	31,221 SQM	2.9%	$22.7m
4	HOXTON DISTRIBUTION PARK	HOXTON PARK, NSW	139,607 SQM	21.5%	$170.5m
5	39 HERBERT STREET	ST LEONARDS, NSW	37,825 SQM	23.1%	$183.0m
6	36 GOW STREET	PADSTOW, NSW	20,389 SQM	4.2%	$33.1m
7	NEXUS INDUSTRY PARK (BUILDING 1), LYN PARADE	PRESTONS, NSW	13,120 SQM	3.0%	$24.1m
8	NEXUS INDUSTRY PARK (BUILDING 2), LYN PARADE	PRESTONS, NSW	9,709 SQM	2.2%	$17.2m
9	NEXUS INDUSTRY PARK (BUILDING 3), LYN PARADE	PRESTONS, NSW	17,250 SQM	3.7%	$29.7m
10	NEXUS INDUSTRY PARK (BUILDING 4), LYN PARADE	PRESTONS, NSW	23,356 SQM	5.6%	$44.2m
11	NEXUS INDUSTRY PARK (BUILDING 5), LYN PARADE	PRESTONS, NSW	12,339 SQM	2.8%	$22.5m
12	1-47 PERCIVAL ROAD	SMITHFIELD, NSW	22,545 SQM	5.5%	$43.9m
13	39 BRITTON STREET	SMITHFIELD, NSW	13,390 SQM	3.0%	$23.5m
14	8 BRABHAM DRIVE	HUNTINGWOOD, NSW	6,249 SQM	2.9%	$23.0m
15	34-39 ANZAC AVENUE	SMEATON GRANGE, NSW	22,063 SQM	3.6%	$28.3m
16	274 VICTORIA ROAD	RYDALMERE NSW	22,734 SQM	6.2%	$48.8m
	*INDUSTRIAL INVESTMENT PROPERTIES TOTAL*		*431,980 SQM*	*100.0%4*	*$793.2m4*
17	CALIBRE, 60 WALLGROVE ROAD	EASTERN CREEK, NSW			$15.9m
	*INDUSTRIAL INVESTMENT PROPERTIES UNDER CONSTRUCTION*	*TOTAL*			*$15.9m*
	INDUSTRIAL TOTAL		431,980 SQM	100.0%4	$809.1m4

	WEIGHTED AVERAGE LEASE EXPIRY (BY INCOME)				7.1 YEARS
	OCCUPANCY % (BY AREA)				100.0%

By book value excluding IPUC, and assets held in funds.
Excludes industrial properties under development
Book values represent Mirvac’s ownership.
This total value includes 271 Lane Cove Road, North Ryde, valued at $38.5m, which is being held for development. This asset is excluded from all other metrics. Subject to rounding.

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Investment Property

Industrial

CALIBRE BUILDING 1

EASTERN CREEK, NSW

==> picture [204 x 129] intentionally omitted <==

Calibre Building 1 is the first completed logistics facility in the Calibre industrial estate at Eastern Creek, a 21.8 hectare industrial development site located at the junction of Sydneyʼs M4 and M7 Motorways. Practical completion was achieved in late 2016 with a lease executed with CEVA Logistics for 100 percent of the building in January 2017.

Summary Information
OWNERSHIP	100%
NLA	19,093 SQM
CAR SPACES	73
ACQUISITION DATE	Dec-16
LAST EXTERNAL VALUATION DATE	30-Jun-17
VALUATION AT 30 JUN 18	$18.7m
VALUER	Directors Valuation
CAPITALISATION RATE	6.25%
DISCOUNT RATE	7.25%

Major Tenants NLA SQM	Lease Expiry
CEVA Logistics 19,093	Feb-21

Lease Expiry Profile % Income
VACANCY 0.0%
FY19 0.0%
FY20 0.0%
FY21 100.0%
FY22 0.0%
FY23 0.0%
FY24+ 0.0%
WALE 2.6 YEARS

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Investment Property

Industrial

CALIBRE BUILDING 3

EASTERN CREEK, NSW

==> picture [204 x 129] intentionally omitted <==

Calibre Building 3 is the second completed logistics facility in the Calibre industrial estate at Eastern Creek, a 21.8 hectare industrial development site located at the junction of Sydney’s M4 and M7 Motorways. Practical completion was achieved in May 2018 with a lease executed with Pet Circle, a leading online pet supplies company, for 100 percent of the building.

Summary Information
OWNERSHIP	100%
NLA	21,090 SQM
CAR SPACES	137
ACQUISITION DATE	Jun-18
LAST EXTERNAL VALUATION DATE	30-Jun-18
VALUATION AT 30 JUN 18	$21.5m
VALUER	CBRE
CAPITALISATION RATE	6.00%
DISCOUNT RATE	7.25%

Major Tenants NLA SQM	Lease Expiry
Pet Circle 21,090	May-23

Lease Expiry Profile % Income
VACANCY 0.0%
FY19 0.0%
FY20 0.0%
FY21 0.0%
FY22 0.0%
FY23 100.0%
FY24+ 0.0%
WALE 4.9 YEARS

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Investment Property

Industrial

CALIBRE BUILDING 4

EASTERN CREEK, NSW

==> picture [204 x 129] intentionally omitted <==

Calibre Building 4 is the third completed logistics facility in the Calibre industrial estate at Eastern Creek, a 21.8 hectare industrial development site located at the junction of Sydney’s M4 and M7 Motorways. Practical completion was achieved in late June 2018 with a lease executed with Sheldon & Hammond, a leading kitchen distributor, on a 10-year lease term for 100 percent of the building, Sheldon & Hammond commence their lease on 1 July 2018.

OWNERSHIP	100%
NLA	31,221 SQM
CAR SPACES	114
ACQUISITION DATE	Jun-18
LAST EXTERNAL VALUATION DATE	-
VALUATION AT 30 JUN 18	$22.7m1
VALUER	Directors Valuation
CAPITALISATION RATE	n.a.
DISCOUNT RATE	n.a.

NLA SQM	Lease Expiry
Sheldon & Hammond 31,221	Jun-28

Lease Expiry Profile % Income
VACANCY 0.0%
FY19 0.0%
FY20 0.0%
FY21 0.0%
FY22 0.0%
FY23 0.0%
FY24+ 100.0%
WALE 10.0 YEARS

Practical completion occurred late June 2018, asset held at Directors Valuation.

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Investment Property

Industrial

HOXTON DISTRIBUTION PARK

HOXTON PARK, NSW

==> picture [204 x 129] intentionally omitted <==

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

Summary Information
OWNERSHIP	50% Mirvac, 50% JP Morgan
NLA	139,607 SQM
CAR SPACES	787
ACQUISITION DATE	Jul-10
LAST EXTERNAL VALUATION DATE	30-Jun-18
VALUATION AT 30 JUN 18	$170.5m1
VALUER	Colliers
CAPITALISATION RATE	5.22%
DISCOUNT RATE	6.92%

Major Tenants NLA SQM	Lease Expiry
Woolworths (Big W) 88,914	Feb-37
Woolworths 50,693	Jan-32

Lease Expiry Profile % Income
VACANCY 0.0%
FY19 0.0%
FY20 0.0%
FY21 0.0%
FY22 0.0%
FY23 0.0%
FY24+ 100.0%
WALE 16.8 YEARS

Book value represents Mirvac's ownership

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Investment Property

Industrial

39 HERBERT STREET

ST LEONARDS, NSW

==> picture [204 x 129] intentionally omitted <==

39 Herbert Street is a high-quality 3.7 hectare business park on Sydney's lower North Shore, located three kilometres from North Sydney CBD, six kilometres from the Sydney CBD and in proximity to St Leonards train station. It comprises two commercial buildings, 22 industrial/warehouse/office units as well as a childcare centre and a multistorey carpark.

Summary Information
OWNERSHIP	100%
NLA	37,825 SQM
CAR SPACES	548
ACQUISITION DATE	Jan-15
LAST EXTERNAL VALUATION DATE	30-Jun-18
VALUATION AT 30 JUN 18	$183.0m
VALUER	CBRE
CAPITALISATION RATE	6.13%
DISCOUNT RATE	7.38%

Major Tenants NLA SQM	Lease Expiry
Interactive 12,235	Nov-30
Westcon Group Pty Limited 4,731	Jun-19

Lease Expiry Profile % Income
VACANCY 0.0%
FY19 29.2%
FY20 7.9%
FY21 13.6%
FY22 2.9%
FY23 4.0%
FY24+ 42.4%
WALE 6.2 YEARS

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Investment Property

Industrial

36 GOW STREET

PADSTOW, NSW

==> picture [204 x 129] intentionally omitted <==

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

Summary Information
OWNERSHIP	100%
NLA	20,389 SQM
CAR SPACES	161
ACQUISITION DATE	Feb-17
LAST EXTERNAL VALUATION DATE	-
VALUATION AT 30 JUN 18	$33.1m
VALUER	Directors Valuation
CAPITALISATION RATE	6.25%
DISCOUNT RATE	7.50%

Major Tenants NLA SQM	Lease Expiry
WSI logistics 20,389	Feb-28

Lease Expiry Profile % Income
VACANCY 0.0%
FY19 0.0%
FY20 0.0%
FY21 0.0%
FY22 0.0%
FY23 0.0%
FY24+ 100.0%
WALE 9.7 YEARS

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Investment Property

Industrial

NEXUS INDUSTRY PARK (BUILDING 1), LYN PARADE

PRESTONS, NSW

==> picture [204 x 129] intentionally omitted <==

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

Summary Information
OWNERSHIP	100%
NLA	13,120 SQM
CAR SPACES	125
ACQUISITION DATE	Aug-04
LAST EXTERNAL VALUATION DATE	31-Dec-16
VALUATION AT 30 JUN 18	$24.1m
VALUER	Directors Valuation
CAPITALISATION RATE	6.75%
DISCOUNT RATE	7.50%

Major Tenants NLA SQM	Lease Expiry
Atlas Steels (Australia) Pty Ltd 13,120	Apr-21

Lease Expiry Profile % Income
VACANCY 0.0%
FY19 0.0%
FY20 0.0%
FY21 100.0%
FY22 0.0%
FY23 0.0%
FY24+ 0.0%
WALE 2.8 YEARS

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Investment Property

Industrial

NEXUS INDUSTRY PARK (BUILDING 2), LYN PARADE

PRESTONS, NSW

==> picture [204 x 129] intentionally omitted <==

Developed by Mirvac in 2006, this building adjoins four other industrial facilities developed on the former Liverpool Showground site, with excellent exposure and access to the M5 and M7 Motorways.

Summary Information
OWNERSHIP	100%
NLA	9,709 SQM
CAR SPACES	70
ACQUISITION DATE	Aug-04
LAST EXTERNAL VALUATION DATE	31-Dec-16
VALUATION AT 30 JUN 18	$17.2m
VALUER	Directors Valuation
CAPITALISATION RATE	6.75%
DISCOUNT RATE	7.75%

Major Tenants NLA SQM	Lease Expiry
Natsteel Australia Pty Ltd 9,709	Nov-21

Lease Expiry Profile % Income
VACANCY 0.0%
FY19 0.0%
FY20 0.0%
FY21 0.0%
FY22 100.0%
FY23 0.0%
FY24+ 0.0%
WALE 3.4 YEARS

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Investment Property

Industrial

NEXUS INDUSTRY PARK (BUILDING 3), LYN PARADE

PRESTONS, NSW

==> picture [204 x 129] intentionally omitted <==

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

Summary Information
OWNERSHIP	100%
NLA	17,250 SQM
CAR SPACES	163
ACQUISITION DATE	Aug-04
LAST EXTERNAL VALUATION DATE	31-Dec-16
VALUATION AT 30 JUN 18	$29.7m
VALUER	Directors Valuation
CAPITALISATION RATE	6.75%
DISCOUNT RATE	7.50%

Major Tenants NLA SQM	Lease Expiry
De'Longhi Australia Pty Ltd 17,250	Feb-24

Lease Expiry Profile % Income
VACANCY 0.0%
FY19 0.0%
FY20 0.0%
FY21 0.0%
FY22 0.0%
FY23 0.0%
FY24+ 100.0%
WALE 5.7 YEARS

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Investment Property

Industrial

NEXUS INDUSTRY PARK (BUILDING 4), LYN PARADE

PRESTONS, NSW

==> picture [204 x 129] intentionally omitted <==

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

Summary Information
OWNERSHIP	100%
NLA	23,356 SQM
CAR SPACES	212
ACQUISITION DATE	Aug-04
LAST EXTERNAL VALUATION DATE	31-Dec-16
VALUATION AT 30 JUN 18	$44.2m
VALUER	Directors Valuation
CAPITALISATION RATE	6.50%
DISCOUNT RATE	7.50%

Major Tenants NLA SQM	Lease Expiry
Legrand Australia Pty Ltd 23,356	Oct-21

Lease Expiry Profile % Income
VACANCY 0.0%
FY19 0.0%
FY20 0.0%
FY21 0.0%
FY22 100.0%
FY23 0.0%
FY24+ 0.0%
WALE 3.3 YEARS

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Investment Property

Industrial

NEXUS INDUSTRY PARK (BUILDING 5), LYN PARADE

PRESTONS, NSW

==> picture [204 x 129] intentionally omitted <==

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

Summary Information
OWNERSHIP	100%
NLA	12,339 SQM
CAR SPACES	103
ACQUISITION DATE	Aug-04
LAST EXTERNAL VALUATION DATE	31-Dec-16
VALUATION AT 30 JUN 18	$22.5m
VALUER	Directors Valuation
CAPITALISATION RATE	6.75%
DISCOUNT RATE	7.75%

Major Tenants NLA SQM	Lease Expiry
Australian Brushware Corporation Pty Ltd 12,339	Mar-22

Lease Expiry Profile % Income
VACANCY 0.0%
FY19 0.0%
FY20 0.0%
FY21 0.0%
FY22 100.0%
FY23 0.0%
FY24+ 0.0%
WALE 3.8 YEARS

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Investment Property

Industrial

1-47 PERCIVAL ROAD

SMITHFIELD, NSW

==> picture [204 x 129] intentionally omitted <==

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

Summary Information
OWNERSHIP	100%
NLA	22,545 SQM
CAR SPACES	207
ACQUISITION DATE	Nov-02
LAST EXTERNAL VALUATION DATE	31-Dec-16
VALUATION AT 30 JUN 18	$43.9m
VALUER	Directors Valuation
CAPITALISATION RATE	6.75%
DISCOUNT RATE	8.00%

Major Tenants NLA SQM	Lease Expiry
Vulcan Steel Pty Ltd 12,115	Jun-22
Clark Equipment Sales 5,437	Feb-24

Lease Expiry Profile % Income
VACANCY 0.0%
FY19 0.0%
FY20 0.0%
FY21 0.0%
FY22 54.4%
FY23 0.0%
FY24+ 45.6%
WALE 4.9 YEARS

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Investment Property

Industrial

39 BRITTON STREET

SMITHFIELD, NSW

==> picture [204 x 129] intentionally omitted <==

Developed in 1998, 39 Britton Street is a high-clearance warehouse with six loading docks and an adjoining twostorey office and amenities block.

Summary Information
OWNERSHIP	100%
NLA	13,390 SQM
CAR SPACES	53
ACQUISITION DATE	Jan-15
LAST EXTERNAL VALUATION DATE	31-Dec-17
VALUATION AT 30 JUN 18	$23.5m
VALUER	Directors Valuation
CAPITALISATION RATE	6.25%
DISCOUNT RATE	7.25%

Major Tenants NLA SQM	Lease Expiry
Snack Brands Industries 13,390	Jul-20

Lease Expiry Profile % Income
VACANCY 0.0%
FY19 0.0%
FY20 0.0%
FY21 100.0%
FY22 0.0%
FY23 0.0%
FY24+ 0.0%
WALE 2.1 YEARS

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Investment Property

Industrial

8 BRABHAM DRIVE

HUNTINGWOOD, NSW

==> picture [204 x 129] intentionally omitted <==

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

Summary Information
OWNERSHIP	100%
NLA	6,249 SQM
CAR SPACES	81
ACQUISITION DATE	Jan-15
LAST EXTERNAL VALUATION DATE	31-Dec-17
VALUATION AT 30 JUN 18	$23.0m
VALUER	Directors Valuation
CAPITALISATION RATE	6.75%
DISCOUNT RATE	7.50%

Major Tenants NLA SQM	Lease Expiry
Bagtrans Limited 6,249	Apr-24

Lease Expiry Profile % Income
VACANCY 0.0%
FY19 0.0%
FY20 0.0%
FY21 0.0%
FY22 0.0%
FY23 0.0%
FY24+ 100.0%
WALE 5.8 YEARS

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Investment Property

Industrial

34-39 ANZAC AVENUE

SMEATON GRANGE, NSW

==> picture [204 x 129] intentionally omitted <==

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

Summary Information
OWNERSHIP	100%
NLA	22,063 SQM
CAR SPACES	181
ACQUISITION DATE	Jan-15
LAST EXTERNAL VALUATION DATE	31-Dec-16
VALUATION AT 30 JUN 18	$28.3m
VALUER	Directors Valuation
CAPITALISATION RATE	7.25%
DISCOUNT RATE	8.25%

Major Tenants NLA SQM	Lease Expiry
Hurford Wholesale 3,698	Jul-20
Unistrut 3,697	Sep-19

Lease Expiry Profile % Income
VACANCY 0.0%
FY19 0.0%
FY20 34.7%
FY21 49.1%
FY22 0.0%
FY23 16.2%
FY24+ 0.0%
WALE 2.4 YEARS

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Investment Property

Industrial

274 VICTORIA ROAD

RYDALMERE NSW

==> picture [204 x 129] intentionally omitted <==

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

Summary Information
OWNERSHIP	100%
NLA	22,734 SQM
CAR SPACES	350
ACQUISITION DATE	Jul-16
LAST EXTERNAL VALUATION DATE	30-Jun-18
VALUATION AT 30 JUN 18	$48.8m
VALUER	Savills
CAPITALISATION RATE	6.50%
DISCOUNT RATE	7.75%

Major Tenants NLA SQM	Lease Expiry
Thales Australia 22,734	Nov-22

Lease Expiry Profile % Income
VACANCY 0.0%
FY19 0.0%
FY20 0.0%
FY21 0.0%
FY22 0.0%
FY23 100.0%
FY24+ 0.0%
WALE 4.4 YEARS

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Investment Property

Industrial

CALIBRE, 60 WALLGROVE ROAD (PROPERTY UNDER CONSTRUCTION)

EASTERN CREEK, NSW

==> picture [204 x 129] intentionally omitted <==

Calibre Eastern Creek is a 21.8 hectare industrial development site located at the junction of Sydney’s M4 and M7 Motorways. Acquired by Mirvac in January 2014, the site benefits from State Significant Development approval for over 120,000 square metres of prime grade industrial, logistics and warehousing facilities. Serviced by a dedicated multidirectional signalised intersection, the site provides unparalleled exposure and connectivity to Sydney’s major transport routes and local roads.

Project Update:

Building 2, a 17,000 square metre high-quality facility, has been pre-leased to appliance giant, Miele, on a seven year lease term, and is currently under construction, expected to achieve practical completion in the first half of FY19. Building 5, a 21,000-square metre high-quality facility has commenced construction on a speculative basis with availability from December 2018. A Heads of Agreement (tenant name confidential) has been signed for 100% of Building 5.

Summary Information
VALUATION AS AT 30 JUN 18	$15.9m1
EXPECTED DEVELOPMENT VALUE ON COMPLETION	$92m2
ACQUISITION DATE	Jan-14
TARGET COMPLETION	Staged
OWNERSHIP	50% MPT, 50% MIRVAC LIMITED

Book value represents Mirvac's ownership of potential buildings 2 and 5. (50% held in Mirvac Limited)
Represents 100% value of potential buildings 2 and 5 only.

RETAIL

RHODES WATERSIDE, SYDNEY

Comprising 33% of Mirvac’s property portfolio, the retail portfolio is 99.2% occupied with 69% of the portfolio located in metropolitan Sydney.

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

RETAIL

GRADE DIVERSIFICATION[1]

==> picture [84 x 87] intentionally omitted <==

GEOGRAPHIC DIVERSIFICATION[1]

Regional 41% NSW 69% Sub Regional 25% QLD 26% CBD Retail 15% VIC 3% Outlet 13% ACT 2% Neighbourhood 6%

				% OF RETAIL
				PORTFOLIO		VALUATION AT
	PROPERTY	LOCATION	GLA	BOOK VALUE2	CENTRE MAT3	30 JUNE 20184
1	BIRKENHEAD POINT OUTLET CENTRE	DRUMMOYNE, NSW	33,281 SQM	13.1%	$288.2m	$415.8m
2	BROADWAY SYDNEY	GLEBE, NSW	52,724 SQM	14.7%	$610.4m	$465.4m
3	CHERRYBROOK VILLAGE	CHERRYBROOK, NSW	9,592 SQM	3.1%	$129.1m	$97.5m
4	EAST VILLAGE	ZETLAND, NSW	32,777 SQM	10.1%	$165.8m	$319.0m
5	GREENWOOD PLAZA	NORTH SYDNEY, NSW	8,830 SQM	3.7%	$93.4m	$117.2m
6	HARBOURSIDE	SYDNEY, NSW	20,665 SQM	8.3%	$169.8m	$262.0m
7	METCENTRE	SYDNEY, NSW	6,418 SQM	2.5%	$82.5m	$80.8m
8	RHODES WATERSIDE	RHODES, NSW	33,145 SQM	6.3%	$220.3m	$200.0m
9	ST MARYS VILLAGE	ST MARYS, NSW	15,996 SQM	1.5%	$94.1m	$48.7m
10	STANHOPE VILLAGE	STANHOPE GARDENS, NSW	18,069 SQM	4.4%	$175.8m	$140.0m
11	TRAMSHEDS SYDNEY	HAROLD PARK, NSW	5,952 SQM	1.4%	$44.6m	$44.5m
12	KAWANA SHOPPINGWORLD	BUDDINA, QLD	38,383 SQM	6.2%	$319.6m	$197.5m
13	ORION SPRINGFIELD CENTRAL	SPRINGFIELD, QLD	69,633 SQM	11.7%	$394.8m	$370.0m
14	TOOMBUL	NUNDAH, QLD	44,265 SQM	8.5%	$243.7m	$269.2m
15	MOONEE PONDS CENTRAL	MOONEE PONDS, VIC	18,844 SQM	2.6%	$145.0m	$83.9m
16	COOLEMAN COURT	WESTON, ACT	10,688 SQM	1.9%	$123.7m	$60.6m
	*RETAIL INVESTMENT PROPERTIES TOTAL*		*419,262 SQM*	*100.0%*		*$3,172.1m*
17	SOUTH VILLAGE SHOPPING CENTRE	KIRRAWEE, NSW				$32.6m
	*RETAIL INVESTMENT PROPERTIES UNDER CONSTRUCTION TOTAL*					*$51.1m5*
	RETAIL TOTAL		419,262 SQM	100.0%		$3,223.2m5

	WEIGHTED AVERAGE LEASE EXPIRY (BY INCOME)					3.8 YEARS
	OCCUPANCY % (BY AREA)					99.2%

By book value excluding IPUC.
Excludes Retail properties under development.
12 Months to 30 June 2018, in accordance with SCCA guidelines.
Book values represent Mirvac’s ownership.
This total value includes land at Orion Springfield, valued at $18.5m, which is being held for development. This asset is excluded from all other metrics.

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Investment Property

Retail

BIRKENHEAD POINT OUTLET CENTRE

DRUMMOYNE, NSW

==> picture [204 x 129] intentionally omitted <==

Birkenhead Point Outlet Centre is situated five kilometres from the Sydney CBD on a prime 3.7 hectare waterfront site. The asset incorporates a premium outlet centre complemented by a convenience based retail offering, and is anchored by Coles and Aldi, with over 150 specialty tenancies. The centre offer has been rejuvenated through extensive remixing and refurbishment in recent years, the latest phase being a premium apparel laneway featuring Armani, Bally, Coach, Harrolds, Michael Kors and Peters of Kensington. The centre also incorporates 3,500 square metres of commercial office suites and a marina comprising ~200 berths.

Summary Information
GRADE	OUTLET CENTRE
OWNERSHIP	100%1
GLA	33,281 SQM
CAR SPACES	1,395
ACQUISITION DATE	Dec-14
LAST EXTERNAL VALUATION DATE	30-Jun-18
VALUATION AT 30 JUN 18	$415.8m2
VALUER	Colliers International
CAPITALISATION RATE	5.25%3
DISCOUNT RATE	7.25%3
CENTRE MAT	$288.2m
SPECIALTY OCCUPANCY COST	11.5%
SPECIALITY SALES	$10,412 / SQM

Major Tenants GLA SQM	Lease Expiry
Coles 2,692	Nov-26
Spotlight 1,796	Sep-20
Aldi 1,448	Nov-25
Peters of Kensington 1,132	Jul-22

Lease Expiry Profile % Income
VACANCY 0.7%
FY19 28.0%
FY20 8.0%
FY21 12.7%
FY22 17.2%
FY23 23.2%
FY24+ 10.2%
WALE 2.9 YEARS

Marina operating business owned by Mirvac Limited.
Includes Marina and nearby property 64 Roseby St, Drummoyne. 3. Relates to retail component only.

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Investment Property

Retail

BROADWAY SYDNEY

GLEBE, NSW

==> picture [204 x 129] intentionally omitted <==

This dominant regional centre is located on the fringe of the Sydney CBD and services the growing catchment of Sydney's inner city and inner west. The centre is anchored by Coles, Kmart, Target, Hoyts, Aldi, Apple, H&M, Sephora and features approximately 140 specialty stores, as well as a recently completed urban casual dining precinct. Broadway Sydney has ranked "Number 1" in Australia in Shopping Centre News Big Guns Awards for annual turnover per square metre for the past six years.

Summary Information
GRADE	REGIONAL
OWNERSHIP	50% Mirvac, 50% Perron
GLA	52,724 SQM
CAR SPACES	1,665
ACQUISITION DATE	Jan-07
LAST EXTERNAL VALUATION DATE	30-Jun-18
VALUATION AT 30 JUN 18	$465.4m1
VALUER	JLL
CAPITALISATION RATE	4.50%
DISCOUNT RATE	6.50%
CENTRE MAT	$610.4m
SPECIALTY OCCUPANCY COST	17.0%
SPECIALITY SALES	$13,435 / SQM

Major Tenants GLA SQM	Lease Expiry
Kmart 7,394	Mar-23
Hoyts 4,857	Jul-18
Target 4,721	Apr-27
Coles 4,122	Jul-24
H&M 2,475	Aug-31

Lease Expiry Profile % Income
VACANCY 0.5%
FY19 34.6%
FY20 8.6%
FY21 8.0%
FY22 11.3%
FY23 11.3%
FY24+ 25.7%
WALE 3.3 YEARS

Book value represents Mirvac's ownership. Also includes adjoining properties 52-60 Francis St, Glebe; 80 Bay Street, Ultimo and 1-3 Smail Street, Ultimo.

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Investment Property

Retail

CHERRYBROOK VILLAGE

CHERRYBROOK, NSW

==> picture [204 x 129] intentionally omitted <==

Located in north-west Sydney, Cherrybrook Village was constructed in 1989 and was extensively refurbished and expanded in 2004. This single level neighbourhood centre is anchored by a Woolworths supermarket and approximately 55 specialty tenancies, including a strong fresh food precinct.

Summary Information
GRADE	NEIGHBOURHOOD
OWNERSHIP	100%
GLA	9,592 SQM
CAR SPACES	464
ACQUISITION DATE	Dec-09
LAST EXTERNAL VALUATION DATE	31-Dec-16
VALUATION AT 30 JUN 18	$97.5m
VALUER	Directors Valuation
CAPITALISATION RATE	6.25%
DISCOUNT RATE	7.50%
CENTRE MAT	$129.1m
SPECIALTY OCCUPANCY COST	15.6%
SPECIALITY SALES	$9,455 / SQM

Major Tenants GLA SQM	Lease Expiry
Woolworths 3,831	Mar-25
Martelli's Fruit Market 682	Aug-22

Lease Expiry Profile % Income
VACANCY 0.0%
FY19 40.5%
FY20 17.5%
FY21 6.7%
FY22 9.4%
FY23 10.0%
FY24+ 15.9%
WALE 2.2 YEARS

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Investment Property

Retail

EAST VILLAGE

ZETLAND, NSW

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East Village is an award-winning mixed-use retail centre that opened in October 2014, located three kilometres south of the Sydney CBD in the rapidly densifying urban renewal area of Zetland. The centre is anchored by Coles, an Audi Service Centre and Virgin Active Health Club with over 50 specialty stores. The centre ranked “Number 1” in Australia in Shopping Centre News Little Guns Awards for annual turnover per square metre in 2016 and 2017, and is set to benefit from strong forecast population growth in its catchment.

Summary Information
GRADE	SUB REGIONAL
OWNERSHIP	100%
GLA	32,777 SQM
CAR SPACES	663
ACQUISITION DATE	Jul-16 (49.9%) Aug-17 (50.1%)
LAST EXTERNAL VALUATION DATE	30-Jun-18
VALUATION AT 30 JUN 18	$319.0m
VALUER	CBRE
CAPITALISATION RATE	5.25%
DISCOUNT RATE	7.00%
CENTRE MAT	$165.8m
SPECIALTY OCCUPANCY COST	13.0%
SPECIALITY SALES	$11,550 / SQM

Major Tenants GLA SQM	Lease Expiry
Audi 13,172	Oct-34
Virgin Active 4,835	Nov-34
Coles 4,015	Oct-34
East Phoenix 1,280	Dec-26
Montessori Academy 1,173	Dec-26

Lease Expiry Profile % Income
VACANCY 0.0%
FY19 3.8%
FY20 13.4%
FY21 7.0%
FY22 14.4%
FY23 4.5%
FY24+ 56.9%
WALE 7.6 YEARS

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Investment Property

Retail

GREENWOOD PLAZA

NORTH SYDNEY, NSW

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Greenwood Plaza is a three-level centre at the base of Mirvacʼs iconic 101-103 Miller Street office tower, providing a major pedestrian thoroughfare to the busy North Sydney train station, with approximately 18 million visitations per annum. It comprises over 90 specialty retail and service outlets, including Romeo's IGA.

Summary Information
GRADE	CBD RETAIL
OWNERSHIP	50% Mirvac, 50% TIAA Henderson Real Estate
GLA	8,830 SQM
CAR SPACES	266
ACQUISITION DATE	Jun-94
LAST EXTERNAL VALUATION DATE	31-Dec-17
VALUATION AT 30 JUN 18	$117.2m1
VALUER	Directors Valuation
CAPITALISATION RATE	5.75%
DISCOUNT RATE	7.50%
CENTRE MAT	$93.4m
SPECIALTY OCCUPANCY COST	19.3%
SPECIALITY SALES	$12,244 / SQM

Major Tenants GLA SQM	Lease Expiry
Greenwood Hotel 856	Jan-26
IGA Romeo's 864	Dec-30

Lease Expiry Profile % Income
VACANCY 3.9%
FY19 32.8%
FY20 8.3%
FY21 13.4%
FY22 5.7%
FY23 10.9%
FY24+ 25.0%
WALE 3.1 YEARS

Book value represents Mirvac's ownership.

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Investment Property

Retail

HARBOURSIDE

SYDNEY, NSW

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Harbourside is a CBD retail centre which stretches over 240 metres of water frontage within Sydney's iconic Darling Harbour. Situated over three levels, the centre is predominantly focused on food catering/restaurants and entertainment. Harbourside is well-positioned to benefit from the $3 billion urban regeneration of the Darling Harbour precinct.

Summary Information
GRADE	CBD RETAIL
OWNERSHIP	100%
GLA	20,665 SQM
CAR SPACES	-
ACQUISITION DATE	Jan-14
LAST EXTERNAL VALUATION DATE	30-Jun-18
VALUATION AT 30 JUN 18	$262.0m
VALUER	m3property
CAPITALISATION RATE	5.75%
DISCOUNT RATE	6.75%
CENTRE MAT	$169.8m
SPECIALTY OCCUPANCY COST	19.5%
SPECIALITY SALES	$9,964 / SQM

Major Tenants GLA SQM	Lease Expiry
Kingpin 2,708	Sep-22
Hard Rock Cafe 1,168	Oct-21
Cyren 1,138	Sep-27

Lease Expiry Profile % Income
VACANCY 2.0%
FY19 21.8%
FY20 12.8%
FY21 3.7%
FY22 24.7%
FY23 11.5%
FY24+ 23.5%
WALE 3.3 YEARS

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Investment Property

Retail

METCENTRE

SYDNEY, NSW

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Metcentre is located at the base of 60 Margaret Street in Sydney and adjoins Wynyard train station. It has excellent exposure to George Street, drawing approximately 14 million visitations per annum. The centre is anchored by a Woolworths supermarket and comprises approximately 75 specialty stores, including a significant food court offering.

Summary Information
GRADE	CBD RETAIL
OWNERSHIP	50% Mirvac, 50% One Managed Investment Funds Ltd
GLA	6,418 SQM
CAR SPACES	-
ACQUISITION DATE	Aug-98
LAST EXTERNAL VALUATION DATE	31-Dec-16
VALUATION AT 30 JUN 18	$80.8m1
VALUER	Directors Valuation
CAPITALISATION RATE	5.75%
DISCOUNT RATE	7.50%
CENTRE MAT	$82.5m
SPECIALTY OCCUPANCY COST	22.9%
SPECIALITY SALES	$11,980 / SQM

Major Tenants GLA SQM	Lease Expiry
Woolworths 1,486	Aug-29

Lease Expiry Profile % Income
VACANCY 3.0%
FY19 26.1%
FY20 15.1%
FY21 19.5%
FY22 8.1%
FY23 2.1%
FY24+ 26.1%
WALE 3.2 YEARS

Book value represents Mirvac's ownership.

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Investment Property

Retail

RHODES WATERSIDE

RHODES, NSW

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Rhodes Waterside is co-located with IKEA in the vibrant Rhodes residential and office precinct. Major retailers include Coles, Target, Bing Lee and Reading Cinemas in addition to over 100 specialty stores. The centre features a recently introduced outdoor dining and restaurant precinct. Development has recently commenced to introduce Aldi into the centre, further strengthening the convenience offer, with completion expected in FY19.

Summary Information
GRADE	REGIONAL
OWNERSHIP	50% Mirvac, 50% Perron
GLA	33,145 SQM
CAR SPACES	2,419
ACQUISITION DATE	Jan-07
LAST EXTERNAL VALUATION DATE	31-Dec-17
VALUATION AT 30 JUN 18	$200.0m1
VALUER	Directors Valuation
CAPITALISATION RATE	5.25%
DISCOUNT RATE	7.25%
CENTRE MAT	$220.3m
SPECIALTY OCCUPANCY COST	16.9%
SPECIALITY SALES	$9,434 / SQM

Major Tenants GLA SQM	Lease Expiry
Target 3,795	Nov-24
Coles 3,497	Dec-19
Reading Cinemas 2,841	Dec-19
Bing Lee 1,022	Feb-25

Lease Expiry Profile % Income
VACANCY 0.3%
FY19 20.7%
FY20 18.9%
FY21 8.5%
FY22 12.8%
FY23 16.6%
FY24+ 22.2%
WALE 3.1 YEARS

Book value represents Mirvac's ownership.

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Investment Property

Retail

ST MARYS VILLAGE

ST MARYS, NSW

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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 ground level parking.

Summary Information
GRADE	SUB REGIONAL
OWNERSHIP	100%
GLA	15,996 SQM
CAR SPACES	551
ACQUISITION DATE	Jan-03
LAST EXTERNAL VALUATION DATE	31-Dec-16
VALUATION AT 30 JUN 18	$48.7m
VALUER	Directors Valuation
CAPITALISATION RATE	6.50%
DISCOUNT RATE	7.50%
CENTRE MAT	$94.1m
SPECIALTY OCCUPANCY COST	13.5%
SPECIALITY SALES	$8,188 / SQM

Major Tenants GLA SQM	Lease Expiry
Target 8,109	Jul-21
Woolworths 4,046	Nov-25

Lease Expiry Profile % Income
VACANCY 2.6%
FY19 18.0%
FY20 24.4%
FY21 6.6%
FY22 27.9%
FY23 5.2%
FY24+ 15.3%
WALE 2.9 YEARS

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Investment Property

Retail

STANHOPE VILLAGE

STANHOPE GARDENS, NSW

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

Summary Information
GRADE	SUB REGIONAL
OWNERSHIP	100%
GLA	18,069 SQM
CAR SPACES	736
ACQUISITION DATE	Nov-03
LAST EXTERNAL VALUATION DATE	31-Dec-16
VALUATION AT 30 JUN 18	$140.0m
VALUER	Directors Valuation
CAPITALISATION RATE	6.00%
DISCOUNT RATE	7.50%
CENTRE MAT	$175.8m
SPECIALTY OCCUPANCY COST	12.7%
SPECIALITY SALES	$9,098 / SQM

Major Tenants GLA SQM	Lease Expiry
Kmart 5,060	Mar-22
Coles 3,500	Nov-18
Aldi 1,329	Aug-28

Lease Expiry Profile % Income
VACANCY 1.0%
FY19 31.0%
FY20 16.0%
FY21 6.2%
FY22 25.2%
FY23 2.6%
FY24+ 18.0%
WALE 2.8 YEARS

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Investment Property

Retail

TRAMSHEDS SYDNEY

HAROLD PARK, NSW

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

Summary Information
GRADE	NEIGHBOURHOOD
OWNERSHIP	100%
GLA	5,952 SQM
CAR SPACES	144
ACQUISITION DATE	Oct-15
LAST EXTERNAL VALUATION DATE	30-Jun-17
VALUATION AT 30 JUN 18	$44.5m
VALUER	Directors Valuation
CAPITALISATION RATE	5.50%
DISCOUNT RATE	7.25%
CENTRE MAT	$44.6m
SPECIALTY OCCUPANCY COST	9.7%
SPECIALITY SALES	$9,930 / SQM

Major Tenants GLA SQM	Lease Expiry
Supamart 2,440	Sep-31
The Butcher and Farmer 536	Sep-26

Lease Expiry Profile % Income
VACANCY 0.0%
FY19 4.5%
FY20 0.3%
FY21 0.0%
FY22 26.6%
FY23 0.0%
FY24+ 68.6%
WALE 7.3 YEARS

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Investment Property

Retail

KAWANA SHOPPINGWORLD

BUDDINA, QLD

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Located in the growing region of Queensland's Sunshine Coast, Kawana Shoppingworld is a dominant convenience and lifestyle centre. The centre incorporates Woolworths, Coles, Aldi, Big W, six mini-majors and approximately 150 specialty stores. The centre is currently under development and will introduce a cinema, an expanded dining precinct and associated car parking, with completion expected in FY19.

Summary Information
GRADE	SUB REGIONAL
OWNERSHIP	50% Mirvac, 50% ISPT
GLA	38,383 SQM
CAR SPACES	1,998
ACQUISITION DATE	Dec-93 (50%) Jun-98 (50%) Dec-17 (-50%)
LAST EXTERNAL VALUATION DATE	31-Dec-17
VALUATION AT 30 JUN 18	$197.5m1
VALUER	Directors Valuation
CAPITALISATION RATE	5.50%
DISCOUNT RATE	7.50%
CENTRE MAT	$319.6m
SPECIALTY OCCUPANCY COST	15.1%
SPECIALITY SALES	$8,974 / SQM

Major Tenants GLA SQM	Lease Expiry
Big W 8,383	Jun-21
Woolworths 3,648	Nov-19
Coles 3,351	Oct-27
Aldi 1,734	Jul-24
JB Hi-Fi 1,336	May-21

Lease Expiry Profile % Income
VACANCY 1.0%
FY19 19.4%
FY20 17.9%
FY21 31.3%
FY22 10.9%
FY23 7.9%
FY24+ 11.6%
WALE 2.8 YEARS

Book value represents Mirvac's ownership.

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Investment Property

Retail

ORION SPRINGFIELD CENTRAL

SPRINGFIELD, QLD

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Located in Brisbane's rapidly growing south-western corridor, Orion was developed by Mirvac in March 2007 and underwent a major expansion that completed in March 2016. The latest development introduced an expanded casual dining, fashion and entertainment offer to position the centre as the dominant retail offer in its catchment. The centre is anchored by Woolworths, Coles, Aldi, Target, Big W and Event Cinemas with over 180 specialty stores and 11 pad sites, with significant sundry land holdings for future expansion.

Summary Information
GRADE	REGIONAL
OWNERSHIP	100%
GLA	69,633 SQM
CAR SPACES	3,053
ACQUISITION DATE	Aug-02
LAST EXTERNAL VALUATION DATE	30-Jun-17
VALUATION AT 30 JUN 18	$370.0m1
VALUER	Directors Valuation
CAPITALISATION RATE	5.50%
DISCOUNT RATE	7.50%
CENTRE MAT	$394.8m
SPECIALTY OCCUPANCY COST	12.5%
SPECIALITY SALES	$8,274 / SQM

Major Tenants GLA SQM	Lease Expiry
Big W 7,988	Mar-27
Target 6,021	Nov-30
Event Cinemas 5,801	Oct-30
Coles 5,618	Oct-30
Woolworths 4,471	Mar-27

Lease Expiry Profile % Income
VACANCY 2.5%
FY19 7.4%
FY20 7.1%
FY21 11.1%
FY22 15.2%
FY23 11.4%
FY24+ 45.3%
WALE 5.5 YEARS

Excludes sundry vacant land.

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Investment Property

Retail

TOOMBUL

NUNDAH, QLD

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Toombul is located in a growing inner urban area of Brisbane, just seven kilometres from Brisbaneʼs CBD and six kilometres from Brisbane Airport. The centre benefits from excellent accessibility via major roadways as well as rail and bus links. Toombul has approximately 44,000 square metres of gross lettable area comprising Coles, Aldi, Kmart, Target, BCC Cinemas, a new Bunnings Warehouse and approximately 130 specialty stores.

Summary Information
GRADE	REGIONAL
OWNERSHIP	100%
GLA	44,265 SQM
CAR SPACES	1,941
ACQUISITION DATE	Jun-16
LAST EXTERNAL VALUATION DATE	30-Jun-18
VALUATION AT 30 JUN 18	$269.2m1
VALUER	CBRE
CAPITALISATION RATE	6.00%
DISCOUNT RATE	7.50%
CENTRE MAT	$243.7m
SPECIALTY OCCUPANCY COST	15.4%
SPECIALITY SALES	$8,493 / SQM

Major Tenants GLA SQM	Lease Expiry
Kmart 6,725	Feb-27
Target 6,582	Oct-26
Coles 3,589	May-32
Bunnings 3,033	Jul-21
BCC Cinemas 2,664	Apr-27

Lease Expiry Profile % Income
VACANCY 0.9%
FY19 18.7%
FY20 13.4%
FY21 9.8%
FY22 10.8%
FY23 11.9%
FY24+ 34.5%
WALE 4.7 YEARS

Includes sundry vacant land.

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Investment Property

Retail

MOONEE PONDS CENTRAL

MOONEE PONDS, VIC

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Moonee Ponds Central is a sub-regional centre located seven kilometres north of the Melbourne CBD, and connected to the busy Puckle Street retail strip. The centre was expanded in 2009 and comprises Kmart, Coles and an Aldi Supermarket as well as over 60 specialty stores.

Summary Information
GRADE	SUB REGIONAL
OWNERSHIP	100%
GLA	18,844 SQM
CAR SPACES	887
ACQUISITION DATE	May-03 & Feb-08
LAST EXTERNAL VALUATION DATE	31-Dec-17
VALUATION AT 30 JUN 18	$83.9m
VALUER	Directors Valuation
CAPITALISATION RATE	6.00%
DISCOUNT RATE	7.25%
CENTRE MAT	$145.0m
SPECIALTY OCCUPANCY COST	13.7%
SPECIALITY SALES	$7,140 / SQM

Major Tenants GLA SQM	Lease Expiry
Kmart 4,728	Mar-24
Coles 4,000	May-22
Aldi 1,221	Mar-23

Lease Expiry Profile % Income
VACANCY 4.2%
FY19 18.8%
FY20 9.0%
FY21 6.3%
FY22 21.9%
FY23 13.1%
FY24+ 26.7%
WALE 3.4 YEARS

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Investment Property

Retail

COOLEMAN COURT

WESTON, ACT

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Cooleman Court is a neighbourhood centre located in the Canberra suburb of Weston. The centre comprises two supermarkets, Woolworths and Aldi, a Target Country, Best & Less and approximately 40 specialty stores. The new residential area of Molonglo Valley is currently being developed a few kilometres from Cooleman Court and is having a positive impact on the centre.

Summary Information
GRADE	NEIGHBOURHOOD
OWNERSHIP	100%
GLA	10,688 SQM
CAR SPACES	498
ACQUISITION DATE	Dec-09
LAST EXTERNAL VALUATION DATE	31-Dec-17
VALUATION AT 30 JUN 18	$60.6m
VALUER	Directors Valuation
CAPITALISATION RATE	6.50%
DISCOUNT RATE	7.50%
CENTRE MAT	$123.7m
SPECIALTY OCCUPANCY COST	14.5%
SPECIALITY SALES	$7,135 / SQM

Major Tenants GLA SQM	Lease Expiry
Woolworths 3,102	Jul-23
Aldi 1,396	Jan-19

Lease Expiry Profile % Income
VACANCY 0.0%
FY19 41.9%
FY20 12.4%
FY21 3.9%
FY22 4.1%
FY23 4.3%
FY24+ 33.4%
WALE 2.5 YEARS

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Investment Property

Retail

SOUTH VILLAGE SHOPPING CENTRE (PROPERTY UNDER CONSTRUCTION)

KIRRAWEE, NSW

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Mirvac has entered into an agreement with PAYCE to acquire a future retail asset in Kirrawee, NSW. Located 25 kilometres south of Sydney and serviced by nearby public transport and the Princes Highway, the proposed South Village Shopping Centre development will form part of a mixed-use development site that will also include approximately 750 residential apartments. Construction has commenced on stage 1, which will comprise Coles, Aldi and a complimentary mix of specialties across ~14,000 sqm of GLA, with completion expected in mid FY19.

Mirvac will provide development leasing services, including tenancy co-ordination and retail design management prior to practical completion, and will retain management rights and leasing services following practical completion. PAYCE will undertake development of the project and following completion Mirvac will pay an amount based on a 6.0 per cent capitalisation rate of the leased net income.

VALUATION AS AT 30 JUN 18

$32.6m

OTHER INVESTMENTS

TRAVELODGE, TUCKER BOX HOTEL GROUP

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MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

OTHER INVESTMENTS

JV & FUNDS UNDER MANAGEMENT

TUCKER BOX HOTEL GROUP

FOCUS FUM($M)	NO. OF INVESTORS
Wholesale 629	2
The Tucker Box Hotel Group is a sector specifc wholesale fund established in March 2005 and focuses on the 3 to 3.5 star, limited service hotel market in	Australia. The portfolio
comprises 12 hotels and 2,027 rooms with a value of $618.6m all of which are leased to Value Lodging Pty Limited, a subsidiary of Toga Far East Hotels.

JF INFRASTRUCTURE YIELD FUND

FOCUS	FUM($M)	NO. OF INVESTORS
Wholesale	–	–
The principal activity of the Fund is investment in unlisted Australian public infrastructure assets. This fund was wound up effective 29 March 2018.
LAT PORTFOLIO
FOCUS	FUM($M)	NO. OF INVESTORS
Offce	Undisclosed	n/a
In December 2015, Mirvac reached an agreement with a subsidiary of China Investment Corporation (CIC) to become asset manager of the LAT portfolio.		Mirvac also invested an
interest in the CIC controlled trusts that are managed by Mirvac.

MILP TRUST

FOCUS	FUM($M)	NO. OF INVESTORS
Industrial	98	2
MILP Trust is owned by MPT (10%) and Prime Property Fund Asia Limited Partnership (90%). MILP will focus on core and value add industrial opportunities.		Mirvac will provide
trust administration, property management and development management services.

RESIDENTIAL OVERVIEW

THE EASTBOURNE, MELBOURNE

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

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

RESIDENTIAL DEVELOPMENT

OVERVIEW

FORECAST REVENUE

$12.6 billion

LOTS UNDER CONTROL 27,406 lots

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Victoria 38% New South Wales 40% Queensland 15% Western Australia 7%

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Victoria 46% New South Wales 28% Queensland 19% Western Australia 7%

RESIDENTIAL FORECAST REVENUE

MIRVAC SHARE FORECAST REVENUE

$10.0 billion

MASTERPLANNED COMMUNITIES

$5.4 billion

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Victoria 41% New South Wales 32% Queensland 19% Western Australia 8%

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Victoria 52% New South Wales 22% Queensland 19% Western Australia 7%

APARTMENTS

$4.6 billion

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Victoria 28% New South Wales 44% Queensland 18% Western Australia 10%

JV & FUNDS UNDER MANAGEMENT

FOCUS	FUM($M)	NO. OF INVESTORS
Mirvac Wholesale Residential Development Partnership Trust – terminated and wound up effective 30 June 2018	–	–
Mirvac Ping An Waterloo Development Trust	120	2
Mirvac SLS Development Trust	247	2

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

RESIDENTIAL DEVELOPMENT

NEW SOUTH WALES

PROPERTY	LOCATION
THE AVENUE, ALEX AVENUE	SCHOFIELDS, NSW
BRIGHTON LAKES, BRICKMAKERS DRIVE	MOOREBANK, NSW
CREST, RABY ROAD	GLEDSWOOD HILLS, NSW
GOOGONG, GOOGONG DAM ROAD	GOOGONG, NSW
GREEN SQUARE, BOTANY ROAD	ZETLAND, NSW
HAROLD PARK, ROSS STREET	GLEBE, NSW
MARRICK & CO., MARRICKVILLE ROAD	MARRICKVILLE, NSW
PAVILIONS, FIGTREE DRIVE	SYDNEY OLYMPIC PARK, NSW
ST LEONARDS SQUARE, PACIFIC HIGHWAY	ST LEONARDS, NSW
THE FINERY, LACHLAN STREET	WATERLOO, NSW

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

RESIDENTIAL DEVELOPMENT

NEW SOUTH WALES

MIRVAC SHARE FORECAST REVENUE

$3.2 billion

LOTS UNDER CONTROL 7,625 lots

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Masterplanned Communities 37% Masterplanned Communities 70% Apartments 63% Apartments 30%

IN PROGRESS

IN PROGRESS
	ACQUISITION		PROJECT VALUE					SETTLEMENT	DATE1	CURRENT	PRICE RANGE	CONSTRUCTION
PROPERTY	DATE	LOCATION	(INC GST)	TOTAL LOTS	RELEASED	EXCHANGED	SETTLED	FROM	TO	FROM	TO	PROGRESS2	DESCRIPTION	OWNERSHIP STRUCTURE
THE AVENUE		SCHOFIELDS	$274.0m	491	480	466	440	FY14	FY21	$295,000	$819,900		MPC – MIX OF LAND & HOUSING	100% MIRVAC
PRECINCT 1	JUL 12		$111.5m	260	250	250	250	FY14	FY21	$295,000	$731,533	100%
PRECINCT 2	JAN 13		$14.6m	35	35	35	35	FY15	FY17	$312,900	$669,900	100%
PRECINCT 3	JUL 14		$69.3m	98	98	98	98	FY16	FY17	$374,900	$529,900	100%
PRECINCT 4	SEP 16		$78.6m	98	97	83	57	FY18	FY20	$419,900	$819,900	70%
BRIGHTON LAKES	DEC 10	MOOREBANK	$256.7m	306	306	306	285	FY16	FY19	$530,000	$1,245,900	95%	MPC – HOUSING	PDA WITH NEW BRIGHTON GOLF CLUB
CREST	SEP 14	GLEDSWOOD HILLS	$251.9m	577	267	266	265	FY17	FY21	$324,000	$650,000	50%	MPC – MIX OF LAND & HOUSING	100% MIRVAC
GOOGONG	DEC 11	GOOGONG	$1,886.1m	5,961	1,900	1,759	1,706	FY14	FY33	$112,000	$785,000		MPC – MIX OF LAND & HOUSING	JV WITH CIC AUSTRALIA LTD
COMPLETED STAGES			$141.1m	597	597	597	597	FY14	FY17	$112,000	$785,000	100%
STAGE 4			$50.6m	192	139	139	139	FY15	FY20	$179,000	$374,000	100%
STAGE 5			$37.6m	151	151	151	151	FY16	FY18	$126,000	$347,000	100%
STAGE 6			$49.6m	274	274	222	195	FY16	FY19	$112,000	$285,000	100%
STAGE 7			$35.9m	118	118	115	114	FY18	FY19	$242,000	$358,000	100%
STAGE 1B			$188.5m	615	528	520	510	FY16	FY20	$188,000	$450,000	90%
FUTURE STAGES			$1,382.8m	4,014	93	15	0	FY19	FY33	$140,000	$783,273	4%
GREEN SQUARE	MAR 12	ZETLAND	$1,451.0m	1,131	476	472	432	FY17	FY24	$498,000	$2,080,000		APARTMENTS WITH MIXED USE	PDA WITH URBAN GROWTH NSW
EBSWORTH			$169.1m	174	174	174	174	FY17	FY17	$498,000	$1,280,000	100%
NO.8 EBSWORTH, OVO & OVO PORTMAN PLACE			$324.6m	302	302	298	258	FY18	FY19	$560,000	$2,080,000	100%
FUTURE STAGES			$957.3m	655	0	0	0	FY23	FY24	$647,222	$2,018,923	0%
HAROLD PARK	DEC 10	GLEBE	$1,335.1m	1,302	1,302	1,298	1,298	FY15	FY19	$499,000	$6,000,000		APARTMENTS (AND TERRACES)	100% MIRVAC
COMPLETED STAGES			$1,048.5m	1,070	1,070	1,070	1,070	FY15	FY17	$499,000	$6,000,000	100%
VANCE			$286.6m	232	232	228	228	FY18	FY19	$545,000	$2,228,000	100%
MARRICK & CO.	OCT 15	MARRICKVILLE	$229.5m	216	216	145	0	FY20	FY20	$615,000	$1,950,000	25%	APARTMENTS	100% MIRVAC
PAVILIONS	NOV 14	SYDNEY OLYMPIC PARK	$574.2m	679	421	246	0	FY20	FY23	$540,000	$1,980,000	7%	APARTMENTS	PDA WITH SYDNEY OLYMPIC PARK AUTHORITY
ST LEONARDS SQUARE	JUN 15	ST LEONARDS	$750.2m	527	527	515	0	FY20	FY21	$610,000	$5,485,000		APARTMENTS	JV WITH PING AN REAL ESTATE
THE WILLIAM			$304.1m	216	216	211	0	FY20	FY20	$630,000	$2,725,000	20%
THE JACKSON			$446.1m	311	311	304	0	FY20	FY21	$610,000	$5,485,000	20%
THE FINERY	JUN 14	WATERLOO	$265.1m	224	224	185	82	FY18	FY20	$620,000	$1,980,000	100%	APARTMENTS AND TERRACES WITH MIXED USE	JV WITH PING AN REAL ESTATE

Settlement date may vary as circumstances change.
Construction progress as a percentage of cost, which includes land subdivision but not land acquisition.

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

RESIDENTIAL DEVELOPMENT NEW SOUTH WALES

PROPOSED

PROPOSED
	ACQUISITION		PROJECT VALUE			SETTLEMENT DATE1
PROPERTY	DATE	LOCATION	(INC GST)	TOTAL LOTS	FROM		TO	DESCRIPTION	OWNERSHIP STRUCTURE
MARSDEN PARK NORTH	NOV 14	MARSDEN PARK	$238.0m	540	FY20		FY23	MPC – MIX OF LAND & HOUSING	PDA WITH MAC 1 MP PTY LTD
MOOREBANK	DEC 14	MOOREBANK	$164.4m	179	FY20		FY21	MPC – MEDIUM DENSITY HOUSING	PDA WITH BENEDICT INDUSTRIES

Settlement date may vary as circumstances change.

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Residential Development Residential New South Wales

THE AVENUE, ALEX AVENUE

SCHOFIELDS, NSW

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Located approximately 45 kilometres from the Sydney CBD, this land and housing project sits in the north-west growth corridor of Sydney in the Blacktown City Council LGA. The masterplanned community will deliver 491 residential lots as well as a public park.

Summary Information - In Progress	Summary Information - In Progress
ACQUISITION DATE		Various (From 2012)
LOCATION		Schofields
PROJECT VALUE (INCL. GST)		$274.0m
TOTAL LOTS		491
PROJECT PERIOD		FY14 - FY21
OWNERSHIP STRUCTURE		100% Mirvac

	Project Update

The project consists of four precincts: Precincts 1, 2 and 3 (totalling 393 lots with a mix of Ready Homes, land lots and package homes) have been completed. Precinct 4 consists of 98 lots, civil works are complete and 57 lots have settled, and 14 lots are available.

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Residential Development Residential New South Wales

BRIGHTON LAKES, BRICKMAKERS DRIVE MOOREBANK, NSW

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Brighton Lakes is a 306 lot residential masterplanned community located in Sydney's south-west. It is being delivered under a project delivery agreement with Brighton Lakes Recreation and Golf Club.

Summary Information - In Progress	Summary Information - In Progress
ACQUISITION DATE		Dec-10
LOCATION		Moorebank
PROJECT VALUE (INCL. GST)		$256.7m
TOTAL LOTS		306
PROJECT PERIOD		FY16 - FY19
OWNERSHIP STRUCTURE		PDA with New Brighton Golf Club

	Project Update

All lots have now been released, and sold. All Development Application (DA) consents have been received, and the project is due for completion in FY19.

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Residential Development Residential New South Wales

CREST, RABY ROAD

GLEDSWOOD HILLS, NSW

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Crest at Gledswood Hills is a residential masterplanned subdivision located in Sydneyʼs south west in the Camden Council area. The project consists of 577 residential land lots integrated with approximately 45 hectares of recreational open space.

Summary Information - In Progress	Summary Information - In Progress
ACQUISITION DATE		Sep-14
LOCATION		Gledswood Hills
PROJECT VALUE (INCL. GST)		$251.9m
TOTAL LOTS		577
PROJECT PERIOD		FY17 - FY21
OWNERSHIP STRUCTURE		100% Mirvac

	Project Update

Stage 3 is complete and registered with all lots being exchanged and only a handful left to settle. Stage 4 DA for 117 lots has been approved by Camden Council. The bulk earthworks are complete with civil works due to commence 1H19 The first sales release for stage 4 will comprise of 30 lots and is scheduled for 1H19.

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Residential Development Residential New South Wales

GOOGONG, GOOGONG DAM ROAD

GOOGONG, NSW

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Googong is a new township located on former grazing land on the NSW/ACT border, just 16 kilometres south-east of Parliament House, and eight kilometres south of Queanbeyan. The project, which sits within the Queanbeyan City Council LGA, is being developed on a 780 hectare site over 20 to 25 years, and will eventually be home to approximately 16,000 people. As a new, self-contained township, Googong will provide housing, community and recreational facilities, shops, schools and employment opportunities. Over 20 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)		$1,886.1m
TOTAL LOTS		5,961
PROJECT PERIOD		FY14 - FY33
OWNERSHIP STRUCTURE		JV with CIC Australia Ltd

	Project Update

Solid sales and settlements occured in FY18 and look to continue into FY19. This yearʼs focus will be the delivery of Neighbourhood 2.

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Residential Development Residential

New South Wales

GREEN SQUARE, BOTANY ROAD

ZETLAND, NSW

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Green Square, a PDA between Mirvac and Urban Growth NSW, is a mixed-use development located approximately 3.5 kilometres from Sydneyʼs CBD, approximately four kilometres from Sydney airport and is conveniently located in close proximity to Green Square train station. The Green Square region is one of the largest urban renewal projects in Australia, and when complete, Mirvac and Urban Growth NSW will have delivered approximately 1,130 apartments, along with office space, retail space and a substantial public domain within the Green Square Town Centre.

Summary Information - In Progress
ACQUISITION DATE	Mar-12
LOCATION	Zetland
PROJECT VALUE (INCL. GST)	$1,451.0m
TOTAL LOTS	1,131
PROJECT PERIOD	FY17 - FY24
OWNERSHIP STRUCTURE	PDA with Urban Growth NSW

Project Update

Mirvacʼs first apartment complex at Green Square, Ebsworth (174 lots), was launched in November 2014 and was 100 per cent pre-sold. Construction commenced in early 2015, with practical completion achieved in February 2017. Ebsworth has now successfully settled all 174 apartments, with the Woolworths Supermarket open for trading. Site 5 comprises three buildings: Ovo, No.8 Ebsworth and Ovo Portman Place (302 lots in total). No. 8 Ebsworth was released in late 2014 and Ovo released in early 2015, with each site now 100 per cent pre-sold. Ovo Portman Place was released in August 2016 with 10 out of 14 apartments sold to date. Construction on Site 5 commenced in early 2016 with settlements commencing in May 2018. Site 7/17 and 18 comprises three buildings totalling approximately 290 apartments and is currently under assessment at City of Sydney Council. Site 15 comprising approximately 350 apartments across four buildings is also under assessment by the City of Sydney. Approval for both developments is expected by the end of 2018.

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Residential Development Residential New South Wales

HAROLD PARK, ROSS STREET

GLEBE, NSW

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Harold Park is located in the inner-city of Sydney, approximately 2.5 kilometres from Sydneyʼs CBD and lies within close proximity to the light rail, major bus routes, Sydney harbour and two of Sydney's largest universities. The project includes approximately 1,300 terrace homes and apartments, as well as the adaptive re-use of the former Rozelle Tram Depot into the vibrant Tramsheds retail complex. The site also includes 3.8 hectares of public open space dedicated to council.

Summary Information - In Progress	Summary Information - In Progress
ACQUISITION DATE		Dec-10
LOCATION		Glebe
PROJECT VALUE (INCL. GST)		$1,335.1m
TOTAL LOTS		1,302
PROJECT PERIOD		FY15 - FY19
OWNERSHIP STRUCTURE		100% Mirvac

	Project Update

The final stage, Vance, which incorporates 232 lots reached practical completion in April 2018, and all exchanged lots have settled, with 4 apartments available.

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Residential Development Residential New South Wales

MARRICK & CO., MARRICKVILLE ROAD

MARRICKVILLE, NSW

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Located in Sydneyʼs inner west, seven kilometres south west of Sydneyʼs CBD, Marrick & Co is a partnership with Inner West Council to transform a redundant former council-owned site. Approved plans include delivery of a new community hub, including a public library, childrenʼs play area and public open space, as well as a range of terrace homes and apartments, including affordable housing. Significant elements of the siteʼs rich history will be retained, including the heritage conversion of the main ward building as the new library, and the former nursesʼ quarters as luxury boutique dwellings. One Planet living registration has been obtained on this project which demonstrates Mirvacʼs commitment to sustainability and integrating with existing communities.

Summary Information - In Progress	Summary Information - In Progress
ACQUISITION DATE		Oct-15
LOCATION		Marrickville
PROJECT VALUE (INCL. GST)		$229.5m
TOTAL LOTS		216
PROJECT PERIOD		FY20
OWNERSHIP STRUCTURE		100% Mirvac

	Project Update
	Remediation and inground works are complete. Aboveground works are underway on both the community hub and residential portions of the site.

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Residential Development Residential New South Wales

PAVILIONS, FIGTREE DRIVE

SYDNEY OLYMPIC PARK, NSW

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Located within the Sydney Olympic Park precinct, the site is 16 kilometres west of the Sydney CBD and nine kilometres from the Parramatta CBD. Development approval for the delivery of four residential buildings with a total of 705 apartment and terrace homes was granted by the DP&E on 8 September 2017. The project has a strong focus on amenity and private open space for its residents, with a private landscape podium situated over four levels of basement car parking, gym and yoga room, a community herb and kitchen garden, and a communal room for all residents, provided. In addition, 1,500 square metres of retail space will be provided which is to be handed back to the Sydney Olympic Park Authority, who will own and lease to a commercial operator.

Summary Information - In Progress	Summary Information - In Progress
ACQUISITION DATE		Nov-14
LOCATION		Sydney Olympic Park
PROJECT VALUE (INCL. GST)		$574.2m
TOTAL LOTS		6791
PROJECT PERIOD		FY20 - FY23
OWNERSHIP STRUCTURE		PDA with Sydney Olympic Park Authority

	Project Update

The project will have a staged completion, with the first building expected to achieve practical completion in late 2019 and settling early 2020. The final building is expected to be complete in mid-2020.

Excludes affordable housing lots to be delivered to Sydney Olympic Park Authority. As at 31 July 2018, 258 apartments in Indigo (Building 5) will be included as Build-to-Rent lots.

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Residential Development Residential New South Wales

ST LEONARDS SQUARE, PACIFIC HIGHWAY

ST LEONARDS, NSW

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St Leonards Square is located in the heart of St Leonards, just a few hundred metres from St Leonards train station and diagonally opposite the future Crows Nest Metro Station. St Leonards Square is located approximately 4.5 kilometres from Sydney’s CBD and will deliver 527 high-quality residential apartments across two striking towers, with iconic views of Sydney CBD and Sydney Harbour. The project will also provide commercial strata office space and a vibrant ground floor retail precinct, which will complement the residential amenity on offer to residents and wider community.

Summary Information - In Progress	Summary Information - In Progress
ACQUISITION DATE		Jun-15
LOCATION		St Leonards
PROJECT VALUE (INCL. GST)		$750.2m
TOTAL LOTS		527
PROJECT PERIOD		FY20 - FY21
OWNERSHIP STRUCTURE		JV with Ping An Real Estate

	Project Update

St Leonards Square received development approval in May 2016. The William (216 lots) was launched in March 2016, with 98 per cent of lots pre-sold. The Jackson (311 lots) launched in July 2016 and is 98 per cent pre-sold. Demolition works commenced in October 2016, construction commenced in October 2017 and completion is expected in late 2019.

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Residential Development Residential New South Wales

THE FINERY, LACHLAN STREET

WATERLOO NSW

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The Finery will offer a refined living experience for the emerging Lachlan Precinct in Waterloo, just 3.5 kilometres from Sydneyʼs CBD. Comprised of six low rise buildings, the project will deliver 224 residential apartments and terrace homes by mid-2018. The development will incorporate 1,200 square metres of ground floor retail, generous green areas and a residentsʼ private entertaining rooftop terrace with plunge pool. Public domain and infrastructure works will also be completed to improve the wider precinct and enhance amenity for residents.

Summary Information - In Progress	Summary Information - In Progress
ACQUISITION DATE		Jun-14
LOCATION		Waterloo
PROJECT VALUE (INCL. GST)		$265.1m
TOTAL LOTS		224
PROJECT PERIOD		FY18 - FY20
OWNERSHIP STRUCTURE		JV with Ping An Real Estate

	Project Update

The Finery was released to market in two stages (April 2016 and September 2016) and is currently 83 per cent pre-sold with 39 apartments available. Construction commenced in April 2016 and the first stage of 133 apartments has been completed, and settlements commenced in June 2018. The second and final stage will be complete in early FY19.

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

RESIDENTIAL DEVELOPMENT QUEENSLAND

PROPERTY	LOCATION
ASCOT GREEN, LANCASTER ROAD	ASCOT, QLD
GAINSBOROUGH GREENS, SWAN ROAD	PIMPAMA, QLD
HOPE STREET, HOPE STREET	SOUTH BRISBANE, QLD
HYDEBERRY, GARDNER ROAD	ROCHEDALE, QLD
WATERFRONT, PARK PRECINCT, UNISON, CUNNINGHAM STREET	NEWSTEAD, QLD

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

RESIDENTIAL DEVELOPMENT

QUEENSLAND

MIRVAC SHARE FORECAST REVENUE $1.8 billion

LOTS UNDER CONTROL

5,177 lots

==> picture [86 x 81] intentionally omitted <==

Masterplanned Communities 55% Masterplanned Communities 78% Apartments 45% Apartments 22%

IN PROGRESS

IN PROGRESS
	ACQUISITION		PROJECT VALUE					SETTLEMENT	DATE1	CURRENT	PRICE RANGE	CONSTRUCTION
PROPERTY	DATE	LOCATION	(INC GST)	TOTAL LOTS	RELEASED	EXCHANGED	SETTLED	FROM	TO	FROM	TO	PROGRESS2	DESCRIPTION	OWNERSHIP STRUCTURE
ASCOT GREEN	SEP 15	ASCOT	$876.6m	1,015	222	93	48	FY18	FY30	$460,000	$3,200,000		APARTMENTS	PDA WITH BRISBANE RACING CLUB
ASCOT HOUSE			$86.9m	90	90	66	48	FY18	FY20	$460,000	$3,200,000	100%
TULLOCH HOUSE			$116.8m	132	132	27	0	FY22	FY23	$460,000	$3,200,000	0%
FUTURE STAGES			$672.9m	793	0	0	0	FY21	FY30	$460,000	$3,200,000	0%
GAINSBOROUGH GREENS	OCT 06	PIMPAMA	$503.5m	1,970	1,604	1,560	1,554	FY11	FY21	$143,000	$510,500		MPC – MIX OF LAND & HOUSING	100% MIRVAC
COMPLETED STAGES			$228.9m	902	902	902	902	FY11	FY18	$143,000	$410,000	100%
PRECINCT 1 – FOREST GREEN			$73.2m	242	242	213	213	FY16	FY19	$190,000	$425,000	100%
PRECINCT 6.1 – GREEN PARK			$31.8m	134	131	131	131	FY12	FY21	$188,000	$510,500	100%
PRECINCT 7.2 – GREEN PARK			$60.5m	224	224	209	203	FY18	FY19	$236,000	$357,000	100%
PRECINCT 7.3 – GREEN PARK			$53.2m	171	0	0	0	FY19	FY20	$235,000	$290,000	0%
FUTURE STAGES			$55.9m	297	105	105	105	FY19	FY20	$195,000	$400,000	0%
HOPE STREET		SOUTH BRISBANE	$218.2m	354	354	330	176	FY17	FY21	$409,000	$1,675,000		APARTMENTS	100% MIRVAC
ART HOUSE	JUL 14		$114.9m	187	187	177	176	FY17	FY19	$409,000	$1,545,000	100%
LUCID	JUL 15		$103.3m	167	167	153	0	FY19	FY21	$410,000	$1,675,000	90%
HYDEBERRY	JAN 17	ROCHEDALE	$61.8m	133	133	57	0	FY19	FY19	$395,000	$630,000	64%	MPC – LAND LOTS	100% MIRVAC
WATERFRONT, PARK PRECINCT	APR 08	NEWSTEAD	$326.4m	393	393	393	393	FY12	FY18	$415,000	$20,000,000		APARTMENTS	100% MIRVAC
COMPLETED STAGES			$111.8m	103	103	103	103	FY12	FY18	$450,000	$20,000,000	100%
UNISON STAGE 1			$109.8m	144	144	144	144	FY17	FY18	$415,000	$1,895,000	100%
UNISON STAGE 2			$104.8m	146	146	146	146	FY17	FY18	$415,000	$1,895,000	100%

PROPOSED

PROPOSED
	ACQUISITION		PROJECT VALUE			SETTLEMENT DATE1
PROPERTY	DATE	LOCATION	(INC GST)	TOTAL LOTS	FROM		TO	DESCRIPTION	OWNERSHIP STRUCTURE
EVERLEIGH (PREVIOUSLY GREENBANK)	FEB 16	GREENBANK	$735.4m	3,300	FY19		FY34	MPC – LAND LOTS	100% MIRVAC
EVERTON PARK	MAR 17	EVERTON PARK	$61.2m	103	FY19		FY21	MPC – LAND, MEDIUM DENSITY HOUSING	100% MIRVAC
ARANA HILLS	AUG 17	ARANA HILLS	$47.8m	80	FY19		FY21	MPC – LAND, MEDIUM DENSITY HOUSING	100% MIRVAC

Settlement date may vary as circumstances change.
Construction progress as a percentage of cost, which includes land subdivision but not land acquisition.

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Residential Development Residential Queensland

ASCOT GREEN, LANCASTER ROAD

ASCOT, QLD

==> picture [204 x 129] intentionally omitted <==

Located in the blue chip suburb of Ascot in Brisbane, Ascot Green is a multi-stage residential masterplan project which, on completion, will comprise of in excess of 1,000 apartments situated along the iconic Eagle Farm Racecourse. Stage 1 will feature two towers of up to 222 apartments. The development is structured as a project delivery agreement with the Brisbane Racing Club.

Summary Information - In Progress	Summary Information - In Progress
ACQUISITION DATE		Sep-15
LOCATION		Ascot
PROJECT VALUE (INCL. GST)		$876.6m
TOTAL LOTS		1,015
PROJECT PERIOD		FY18 - FY30
OWNERSHIP STRUCTURE		PDA with Brisbane Racing Club

	Project Update

Ascot House reached Practical Completion for Levels 1-8 on May-18 and Level 9 on Jun-18, with the entire building now certified for occupancy. Settlements commenced in June-18, with 48 lots settled. The internal road opened on Jun-18 to enable residents to access the building.

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Residential Development Residential Queensland

GAINSBOROUGH GREENS, SWAN ROAD

PIMPAMA, QLD

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Gainsborough Greens is a large-scale masterplanned community located at Pimpama in the northern Gold Coast area and 50 kilometres south of the Brisbane CBD. The project consists of approximately 1,970 lots, along with recreational and retail facilities. The project encompasses the existing Gainsborough Greens Golf Course which has been sold to a third party and part of the site is subject to a body corporate structure.

Summary Information - In Progress	Summary Information - In Progress
ACQUISITION DATE		Oct-06
LOCATION		Pimpama
PROJECT VALUE (INCL. GST)		$503.5m
TOTAL LOTS		1,970
PROJECT PERIOD		FY11 - FY21
OWNERSHIP STRUCTURE		100% Mirvac

	Project Update

Lots were first released in 2010 and more than 1,600 lots have been released with over 97% of released lots sold.

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Residential Development Residential

Queensland

HOPE STREET, HOPE STREET

SOUTH BRISBANE, QLD

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The site is located in South Brisbane, a short walk from the Southbank parklands and arts precinct and across the river from the Brisbane CBD. The site was acquired in mid-2014 with planning approval for two apartment towers and ground floor retail.

Summary Information - In Progress	Summary Information - In Progress
ACQUISITION DATE		Jul-14 & Jul-15
LOCATION		South Brisbane
PROJECT VALUE (INCL. GST)		$218.2m
TOTAL LOTS		354
PROJECT PERIOD		FY17 - FY21
OWNERSHIP STRUCTURE		100% Mirvac

	Project Update

The first tower, Art House, was released to market in mid-2014. Construction completed in June 2017, with settlements continuing. The second tower, Lucid, was launched in October 2015, construction commenced mid-2016 and completion is expected in FY19.

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Residential Development Residential Queensland

HYDEBERRY, GARDNER ROAD

ROCHEDALE, QLD

==> picture [204 x 115] intentionally omitted <==

Located in Rochedale 14 kilometres south-east of the Brisbane CBD, Hydeberry is a land-only development comprising of approximately 133 lots constructed over two stages.

Summary Information - In Progress	Summary Information - In Progress
ACQUISITION DATE		Jan-17
LOCATION		Rochedale
PROJECT VALUE (INCL. GST)		$61.8m
TOTAL LOTS		133
PROJECT PERIOD		FY19
OWNERSHIP STRUCTURE		100% Mirvac

	Project Update

The site was acquired in January 2017 and the development application was approved in November 2017 for 133 land lots. Civil works commenced January 2018 with all settlements expected in FY19.

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Residential Development Residential

Queensland

WATERFRONT, PARK PRECINCT, UNISON, CUNNINGHAM STREET

NEWSTEAD, QLD

==> picture [204 x 129] intentionally omitted <==

Waterfront is a premium multi-staged residential, retail and parkland development, located on a prime 10.5-hectare north-east facing riverfront site. The site which is located in the inner-city suburb of Newstead, is two kilometres from the Brisbane CBD and eight kilometres from Brisbane airport, and is identified as a key site in helping deliver on Queensland accommodation targets set out by the South-East Queensland Regional Plan. To date, Mirvac have delivered three waterfront project stages, being Pier, Park and Unison.

Summary Information - In Progress	Summary Information - In Progress
ACQUISITION DATE		Apr-08
LOCATION		Newstead
PROJECT VALUE (INCL. GST)		$326.4m
TOTAL LOTS		393
PROJECT PERIOD		FY12 - FY18
OWNERSHIP STRUCTURE		100% Mirvac

	Project Update

Unison is the third stage of the Waterfront precinct, and comprises a two-tower design with a feature landscaped podium. It was released to the market in May 2014. Construction commenced mid-2014, and was completed in December 2016. The project is now complete, with the last apartment settling in April 2018 and the management rights sale completed in June 2018.

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

RESIDENTIAL DEVELOPMENT

VICTORIA

PROPERTY	LOCATION
HARCREST, HARCREST BOULEVARD	WANTIRNA SOUTH, VIC
JACK ROAD , JACK ROAD	CHELTENHAM, VIC
OLIVINE, DONNYBROOK ROAD	DONNYBROOK, VIC
THE EASTBOURNE, ALBERT STREET	EAST MELBOURNE, VIC
TULLAMORE, DONCASTER ROAD	DONCASTER, VIC
WAVERLEY PARK, GOODISON COURT	MULGRAVE, VIC
WOODLEA, LEAKES ROAD	ROCKBANK, VIC
YARRA'S EDGE, LORIMER STREET	DOCKLANDS, VIC

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

RESIDENTIAL DEVELOPMENT

VICTORIA

MIRVAC SHARE FORECAST REVENUE $4.1 billion

LOTS UNDER CONTROL

12,665 lots

==> picture [87 x 81] intentionally omitted <==

Masterplanned Communities 68% Masterplanned Communities 90% Apartments 32% Apartments 10%

IN PROGRESS

IN PROGRESS
	ACQUISITION		PROJECT VALUE					SETTLEMENT	DATE1	CURRENT	PRICE RANGE	CONSTRUCTION
PROPERTY	DATE	LOCATION	(INC GST)	TOTAL LOTS	RELEASED	EXCHANGED	SETTLED	FROM	TO	FROM	TO	PROGRESS2	DESCRIPTION	OWNERSHIP STRUCTURE
														100% MWRDP
HARCREST	FEB 08	WANTIRNA SOUTH	$455.9m	906	906	906	906	FY11	FY18	$310,000	$1,376,000		MPC – MIX OF LAND & HOUSING	(MIRVAC 20% EQUITY INTEREST)
COMPLETED STAGES			$330.6m	677	677	677	677	FY11	FY18	$310,000	$1,376,000	100%
STAGE 9			$66.5m	119	119	119	119	FY18	FY18	$420,000	$740,000	100%
STAGE 10			$58.8m	110	110	110	110	FY16	FY18	$335,000	$725,000	100%
JACK ROAD	OCT 14	CHELTENHAM	$141.9m	183	182	182	182	FY16	FY19	$510,000	$1,290,000	100%	MPC – HOUSING	100% MIRVAC
OLIVINE	JUN 12	DONNYBROOK	$1,364.1m	4,031	278	263	1	FY18	FY38	$170,000	$400,000		MPC – LAND LOTS	COMBINATION OF BALANCE SHEET AND DMA
STAGE 1 – 4			$39.9m	277	277	262	0	FY19	FY19	$170,000	$400,000	0%
NON-RESIDENTIAL			$13.5m	1	1	1	1	FY18	FY18	N/A	N/A	100%
FUTURE STAGES			$1,310.7m	3,753	0	0	0	FY19	FY38	$275,000	$347,000	0%
THE EASTBOURNE	DEC 12	EAST MELBOURNE	$459.0m	258	258	258	0	FY19	FY20	$500,000	$14,000,000	60%	APARTMENTS	PDA WITH FREEMASONS
													MPC – MIX OF LAND, HOUSING & MEDIUM
TULLAMORE	JUL15	DONCASTER	$840.7m	845	594	527	343	FY16	FY24	$380,000	$2,300,000		DENSITY HOUSING & APARTMENTS	100% MIRVAC
STAGE 1			$108.7m	134	133	133	133	FY16	FY23	$540,000	$1,350,000	100%
STAGE 2			$125.7m	122	114	114	108	FY17	FY20	$625,000	$2,250,000	70%
STAGE 3			$112.3m	100	100	92	76	FY17	FY19	$700,000	$2,300,000	60%
STAGE 4			$106.5m	93	93	77	26	FY18	FY20	$710,000	$1,800,000	20%
STAGE 6			$147.9m	110	20	6	0	FY19	FY21	$985,000	$1,410,000	10%
APARTMENTS BUILDING A			$92.2m	134	134	105	0	FY19	FY20	$380,000	$1,480,000	30%
FUTURE STAGES			$147.4m	152	0	0	0	FY19	FY24	$450,000	$2,000,000	0%
WAVERLEY PARK	DEC 01	MULGRAVE	$768.9m	1,315	1,218	1,204	1,146	FY04	FY21	$225,000	$1,450,000		MPC – MIX OF LAND & HOUSING	100% MIRVAC
COMPLETED STAGES			$623.4m	1,143	1,143	1,143	1,143	FY04	FY14	$225,000	$1,075,000	100%
STAGE 5 DISPLAY			$4.9m	4	3	3	3	FY18	FY20	$881,000	$1,355,000	100%
STAGE 13			$50.7m	55	55	47	0	FY19	FY19	$650,000	$1,405,000	15%
STAGE 14			$35.4m	41	17	11	0	FY19	FY20	$659,000	$1,450,000	0%
STAGE 15			$36.1m	45	0	0	0	FY20	FY21	$450,000	$1,400,000	0%
STAGE 16			$18.4m	27	0	0	0	FY21	FY21	$630,000	$810,000	0%
WOODLEA	NOV 06	ROCKBANK	$1,845.4m	6,590	2,848	2,829	2,009	FY16	FY34	$135,500	$1,088,888		MPC – LAND LOTS	50% MIRVAC 50% JAYALAND CORPORATION
COMPLETED STAGES			$298.1m	1,587	1,587	1,587	1,587	FY16	FY18	$135,500	$1,088,888	100%
STAGE 1			$9.6m	52	50	50	50	FY16	FY20	$160,000	$420,000	100%
STAGES 20, 23-38			$360.4m	1,339	1,211	1,192	372	FY18	FY21	$182,500	$569,888	VARIOUS
BALANCE OF PROJECT			$1,177.3m	3,612	0	0	0	FY19	FY34	$160,000	$340,000	0%
YARRA’S EDGE		DOCKLANDS	$1,514.6m	1,556	1,128	903	729	FY05	FY26	$120,000	$6,000,000		APARTMENTS (AND TOWNHOUSES)	100% MIRVAC
COMPLETED STAGES	APR 11		$460.3m	418	418	418	418	FY13	FY17	$500,000	$6,000,000	100%
MARINA BERTHS	MAR 04		$19.7m	149	149	116	116	FY05	FY22	$120,000	$285,000	100%
FORGE – TOWER 10	NOV 15		$197.6m	228	228	192	181	FY17	FY21	$490,000	$1,550,000	100%
VOYAGER – TOWER 11	OCT 16		$303.8m	315	315	161	0	FY22	FY26	$490,000	$2,494,500	0%
WHARFSIDE RESIDENCES AND CARGO HOMES –
STAGE 2	DEC 15		$56.6m	18	18	16	14	FY18	FY19	$1,600,000	$4,650,000	100%
FUTURE STAGES	–		$476.6m	428	0	0	0	FY21	FY24	$490,000	$4,650,000	0%

Settlement date may vary as circumstances change.

Construction progress as a percentage of cost, which includes land subdivision but not land acquisition.

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

RESIDENTIAL DEVELOPMENT

VICTORIA

PROPOSED

PROPOSED
	ACQUISITION		PROJECT VALUE			SETTLEMENT DATE1
PROPERTY	DATE	LOCATION	(INC GST)	TOTAL LOTS	FROM		TO	DESCRIPTION	OWNERSHIP STRUCTURE
SMITH'S LANE	NOV 11	CLYDE NORTH	$983.5m	2,297	FY21		FY32	MPC – LAND LOTS	100% MIRVAC

Settlement date may vary as circumstances change.

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Residential Development Residential Victoria

HARCREST, HARCREST BOULEVARD WANTIRNA SOUTH, VIC

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Harcrest is a 56 hectare infill development, comprising vacant land and integrated housing. Nestled amongst wellestablished suburbs, Harcrest offers buyers a unique opportunity to buy or build a brand-new home at the foothills of the Dandenong Ranges on what used to be the Austral Bricks Quarry.

Summary Information - In Progress	Summary Information - In Progress
ACQUISITION DATE		Feb-08
LOCATION		Wantirna South
PROJECT VALUE (INCL. GST)		$455.9m
TOTAL LOTS		906
PROJECT PERIOD		FY11 - FY18
OWNERSHIP STRUCTURE		100% MWRDP (Mirvac 20% equity interest)

	Project Update

Settlements completed in May 2018. The landscaping of the centrepiece of the development, the lake and wetlands, is nearing completion with surrounding stage parks and gardens also underway and expected to be completed by the end of 2018.

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Residential Development Residential Victoria

JACK ROAD , JACK ROAD

CHELTENHAM, VIC

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Jack Road is a 4.2 hectare site located in the Bayside suburb of Cheltenham, approximately 20 kilometres south of Melbourne’s CBD. The development comprises 183 dwellings, consisting of boutique style apartments and two, three and four bedroom homes. The project offers a unique opportunity to live in a masterplanned community within close proximity to Port Philip Bay and established amenity renowned within the Bayside municipality.

Summary Information - In Progress	Summary Information - In Progress
ACQUISITION DATE		Oct-14
LOCATION		Cheltenham
PROJECT VALUE (INCL. GST)		$141.9m
TOTAL LOTS		183
PROJECT PERIOD		FY16 - FY19
OWNERSHIP STRUCTURE		100% Mirvac

	Project Update

The project is fully sold out and all lots have settled (excluding House With No Bills). Construction of Mirvac’s bold research project, the House with No Bills, which aims to transform housing in Australia, has been completed and the family who will live in the home for 12 months’ rent free has been selected and moved in.

100

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Residential Development Residential

Victoria

OLIVINE, DONNYBROOK ROAD

DONNYBROOK, VIC

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Olivine is located approximately 30 kilometres north of Melbourne’s CBD in Donnybrook. Following the Development Management Agreement with Boral for Lots 3 & 4 in May 2018, the masterplanned community will now encompass over 365 hectares and is expected to deliver some 4,000 lots to be developed over approximately 20 years. Olivine will become home to approximately 11,000 residents and will include a new local town centre, education facilities, health, sports and community infrastructure.

Summary Information - In Progress
ACQUISITION DATE	Jun-12
LOCATION	Donnybrook
PROJECT VALUE (INCL. GST)	$1,364.1m
TOTAL LOTS	4,031
PROJECT PERIOD	FY18 - FY38
OWNERSHIP STRUCTURE	Combination of balance sheet and DMA

Project Update

After a successful launch in March 2017, Olivine has now exchanged over 260 contracts across Stages 1 to 4. The Precinct 1 planning permit was issued in February 2018 for ~580 lots. Civil construction commenced in May 2018 for Stages 1 & 2, in addition to the wetland and priority road to service Hume Anglican Grammar. Settlement occurred with Hume Anglican Grammar in May 2018. The school will commence construction (modular) in November 2018 for a February 2019 opening, with 150 students already enrolled.

101

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Residential Development Residential

Victoria

THE EASTBOURNE, ALBERT STREET

EAST MELBOURNE, VIC

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The Eastbourne site is approximately 8,200 square metres and is positioned on the footstep of the Fitzroy Gardens in East Melbourne. The building features approximately 250 apartments across 14 levels and is serviced by a four-level basement car park. This unique building will be a distinct addition to East Melbourne and seeks to raise the bar in luxury residential apartment living.

Summary Information - In Progress	Summary Information - In Progress
ACQUISITION DATE		Dec-12
LOCATION		East Melbourne
PROJECT VALUE (INCL. GST)		$459.0m
TOTAL LOTS		258
PROJECT PERIOD		FY19 - FY20
OWNERSHIP STRUCTURE		PDA with Freemasons

	Project Update

All apartments have now sold. Construction commenced in March 2017, with completion forecast for mid-2019.

102

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Residential Development Residential Victoria

TULLAMORE, DONCASTER ROAD

DONCASTER, VIC

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Tullamore is a 47 hectare infill development, comprising vacant land, integrated housing, and residential apartments. Located 13 kilometres from Melbourne's CBD, Tullamore is nestled among the highly-sought-after suburb of Doncaster. Formally the Eastern Golf Course, the project is within close proximity to leading retail, education and transport hubs.

Summary Information - In Progress	Summary Information - In Progress
ACQUISITION DATE		Jul-15
LOCATION		Doncaster
PROJECT VALUE (INCL. GST)		$840.7m
TOTAL LOTS		845
PROJECT PERIOD		FY16 - FY24
OWNERSHIP STRUCTURE		100% Mirvac

	Project Update

Since launching in May 2015, over 520 residential contracts in total have been exchanged, with significant price growth achieved across all releases. Civil construction of Stages 1-4a is complete, with vacant land settlements occurring in FY16 through FY18. Housing construction is also well underway within Stages 1-3, with settlements occurring from June 2017. The first building of the apartment precinct was released to the market in May 2017, with approximately 78 per cent of apartments pre-sold. Construction is progressing well with structure complete up to level 3.

103

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Residential Development Residential Victoria

WAVERLEY PARK, GOODISON COURT MULGRAVE, VIC

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Waverley Park is a masterplanned community located in the south-eastern suburb of Mulgrave, approximately 23 kilometres from Melbourne’s CBD. The site, which is over 80 hectares, was previously an Australian Rules football venue. The oval and a portion of the stadium have been retained and converted into a retail precinct and sporting facilities.

Summary Information - In Progress	Summary Information - In Progress
ACQUISITION DATE		Dec-01
LOCATION		Mulgrave
PROJECT VALUE (INCL. GST)		$768.9m
TOTAL LOTS		1,315
PROJECT PERIOD		FY04 - FY21
OWNERSHIP STRUCTURE		100% Mirvac

	Project Update

Waverley Park was successfully relaunched in October 2017. Stage 13, the first of four final stages of the project has commenced housing construction after the completion of civil works in May 2018 and settlements are on track for FY19. Stage 14 land was released to market in June 2018, with over 60% pre-sold. Powerline Works (realignment as well as replacement of the lattice towers) commenced onsite in July 2018 with an expected program of 6 months. Lake and wetlands civil design is complete and submitted for approvals.

104

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Residential Development Residential

Victoria

WOODLEA, LEAKES ROAD

ROCKBANK, VIC

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Woodlea is a 711 hectare greenfield masterplanned community, situated 29 kilometres west of Melbourneʼs CBD. The community will accommodate over 6,500 residential lots, four schools, community and childcare facilities, a local town centre, a major town centre and 30 hectares of sporting facilities linked by 200 hectares of open space. The project is being developed in joint venture with Jayaland Corporation and is expected to house approximately 20,000 residents upon completion.

Summary Information - In Progress
ACQUISITION DATE	Nov-06
LOCATION	Rockbank
PROJECT VALUE (INCL. GST)	$1,845.4m
TOTAL LOTS	6,590
PROJECT PERIOD	FY16 - FY34
OWNERSHIP STRUCTURE	50% Mirvac 50% Jayaland Corporation

Project Update

Since launching in March 2015, ~2,800 contracts have been exchanged at Woodlea across 36 stages including 25 Townhouse dwellings. The townhouse product was launched successfully in March 2018, with all 16 lots selling. A further sell out of 9 townhouse dwellings was achieved in June 2018. Approximately 1,800 residents are now residing at Woodlea, with four parks, childcare, a smart learning hub, café, adventure park and a 10 hectare sporting precinct now complete. Bacchus Marsh Grammar Primary School is currently under construction and on track to open February 2019. Council have committed to delivery of the community facility with 180 kindergarten/childcare places by 2020.

105

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Residential Development Residential Victoria

YARRA'S EDGE, LORIMER STREET

DOCKLANDS, VIC

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

Summary Information - In Progress	Summary Information - In Progress
ACQUISITION DATE		Various (from 2004)
LOCATION		Docklands
PROJECT VALUE (INCL. GST)		$1,514.6m
TOTAL LOTS		1,556
PROJECT PERIOD		FY05 - FY26
OWNERSHIP STRUCTURE		100% Mirvac

	Project Update

The ‘Park Precinct’ comprises 628 apartments across Yarra Point, Array and Tower 9. Yarra Point and Array are fully sold and settled. The final tower in the precinct, Tower 9, received planning endorsement on a revised development scheme in May 2017 for 220 lots. Market release for this tower is expected in 2019.

The ‘Wharf's Entrance’ precinct comprises 730 apartments across Forge, Voyager and Tower 12 and 54 terrace homes. The first release of Forge and Stage 1 of the terrace homes occurred in late 2014, with construction commencing in early 2015. The Stage 1 terraces are 100 per cent sold and settled. Forge settlements commenced in April 2017 and, with Stage 2 townhouses and Voyager were released in late 2015. Stage 2 homes have commenced settlement, while construction on Voyager is expected to commence in 2019. The final stage of waterfront terraces are proposed to be launched into the market soon.

106

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

RESIDENTIAL DEVELOPMENT WESTERN AUSTRALIA

PROPERTY	LOCATION
ONE71 BALDIVIS, BALDIVIS ROAD	BALDIVIS, WA
BEACHSIDE LEIGHTON, 1 FREEMAN LOOP	NORTH FREMANTLE, WA
CLAREMONT, CORNER GRAYLANDS ROAD & SHENTON ROAD	CLAREMONT, WA
ILUMA PRIVATE ESTATE, MARSHALL ROAD	WEST SWAN, WA
OSPREY WATERS, BRIDGEWATER BOULEVARD	MANDURAH, WA
THE PENINSULA, THE CIRCUS	BURSWOOD, WA
MADOX, NICHOLSON ROAD	PIARA WATERS, WA

107

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

RESIDENTIAL DEVELOPMENT

WESTERN AUSTRALIA

MIRVAC SHARE FORECAST REVENUE $0.8 billion

LOTS UNDER CONTROL

1,939 lots

==> picture [86 x 86] intentionally omitted <==

Masterplanned Communities 46% Masterplanned Communities 71% Apartments 54% Apartments 29%

IN PROGRESS

IN PROGRESS
	ACQUISITION		PROJECT VALUE					SETTLEMENT	DATE1	CURRENT	PRICE RANGE	CONSTRUCTION
PROPERTY	DATE	LOCATION	(INC GST)	TOTAL LOTS	RELEASED	EXCHANGED	SETTLED	FROM	TO	FROM	TO	PROGRESS2	DESCRIPTION	OWNERSHIP STRUCTURE
ONE71 BALDIVIS	DEC 13	BALDIVIS	$83.9m	437	199	124	123	FY16	FY22	$127,000	$258,000		MPC – LAND LOTS	100% MIRVAC
STAGE 1			$14.0m	70	70	63	63	FY16	FY19	$165,000	$211,000	100%
STAGE 2			$11.3m	56	56	47	47	FY16	FY19	$166,000	$213,000	100%
STAGE 1B			$6.9m	34	34	13	13	FY17	FY19	$166,000	$242,000	100%
STAGE 3			$9.8m	52	39	1	0	FY19	FY21	$164,000	$235,000	50%
FUTURE STAGES			$41.9m	225	0	0	0	FY19	FY22	$127,000	$258,000	0%
BEACHSIDE LEIGHTON	AUG 06	LEIGHTON	$354.8m	291	291	207	167	FY11	FY21	$420,000	$8,950,000		APARTMENTS WITH MIXED USE	100% MIRVAC
COMPLETED STAGES			$170.0m	69	69	69	69	FY11	FY16	$840,000	$8,950,000	100%
MERIDIAN, PRIMA & FUTURE STAGES			$184.8m	222	222	138	98	FY18	FY21	$420,000	$1,735,000	Various
CLAREMONT	JAN 15	CLAREMONT	$174.9m	234	234	129	0	FY19	FY21	$450,000	$1,495,000		APARTMENTS	100% MIRVAC
GRANDSTAND			$103.4m	142	142	85	0	FY19	FY21	$450,000	$1,165,000	80%
RESERVE			$71.5m	92	92	44	0	FY19	FY20	$460,000	$1,495,000	80%
ILUMA PRIVATE ESTATE	DEC 14	WEST SWAN	$164.4m	611	131	85	85	FY18	FY22	$150,000	$366,000		MPC – LAND LOTS	100% MIRVAC
STAGE 1			$21.8m	84	74	65	65	FY18	FY19	$150,000	$352,000	100%
STAGE 2			$19.2m	69	57	20	20	FY18	FY19	$180,000	$340,000	70%
FUTURE STAGES			$123.4m	458	0	0	0	FY19	FY22	$205,000	$366,000	0%
OSPREY WATERS	DEC 13	MANDURAH	$85.7m	474	366	308	308	FY14	FY21	$109,000	$239,000		MPC – LAND LOTS	100% MIRVAC
COMPLETED STAGES			$20.8m	121	121	121	121	FY14	FY17	$109,000	$239,000	100%
STAGE 3			$17.5m	91	90	90	90	FY16	FY19	$130,000	$239,000	100%
STAGE 5			$8.4m	50	50	50	50	FY16	FY18	$150,000	$227,000	100%
STAGE 9			$12.8m	67	51	19	19	FY17	FY20	$147,000	$225,000	30%
STAGE 6			$9.8m	54	54	28	28	FY17	FY19	$159,000	$212,000	100%
FUTURE STAGES			$16.4m	91	0	0	0	FY19	FY21	$155,000	$212,000	0%
THE PENINSULA	FEB 03	BURSWOOD	$681.3m	641	443	430	430	FY07	FY23	$385,000	$13,395,000		APARTMENTS, MEDIUM DENSITY & LAND LOTS	100% MIRVAC
COMPLETED STAGES			$476.9m	419	419	419	419	FY07	FY17	$385,000	$13,395,000	100%
LOT 16			$4.9m	7	7	4	4	FY18	FY19	$690,000	$700,000	100%
LOT 3			$7.6m	17	17	7	7	FY18	FY19	$440,000	$550,000	100%
FUTURE STAGES			$191.9m	198	0	0	0	FY22	FY23	$525,000	$11,990,000	0%
MADOX	FEB 16	PIARA WATERS	$127.7m	426	125	62	62	FY18	FY22	$180,000	$366,000		MPC – LAND LOTS	100% MIRVAC
STAGE 1			$14.7m	46	46	42	42	FY18	FY19	$232,000	$352,000	100%
STAGE 2			$23.2m	81	79	20	20	FY18	FY20	$180,000	$340,000	70%
FUTURE STAGES			$89.8m	299	0	0	0	FY19	FY22	$205,000	$366,000	0%

Settlement date may vary as circumstances change.
Construction progress as a percentage of cost, which includes land subdivision but not land acquisition.

108

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Residential Development Residential

Western Australia

ONE71 BALDIVIS, BALDIVIS ROAD

BALDIVIS, WA

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One71 Baldivis is a masterplanned community development of approximately 30 hectares, located in Perthʼs southwest corridor, 20 minutes from Perthʼs CBD.

Summary Information - In Progress	Summary Information - In Progress
ACQUISITION DATE		Dec-13
LOCATION		Baldivis
PROJECT VALUE (INCL. GST)		$83.9m
TOTAL LOTS		437
PROJECT PERIOD		FY16 - FY22
OWNERSHIP STRUCTURE		100% Mirvac

	Project Update

Over 60% of released lots are now settled. The next stage of the project to be developed will encompass a school site, Baldivis North Primary School, set to open in 2020.

109

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Residential Development Residential

Western Australia

BEACHSIDE LEIGHTON, 1 FREEMAN LOOP

NORTH FREMANTLE, WA

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

Summary Information - In Progress	Summary Information - In Progress
ACQUISITION DATE		Aug-06
LOCATION		Leighton
PROJECT VALUE (INCL. GST)		$354.8m
TOTAL LOTS		291
PROJECT PERIOD		FY11 - FY21
OWNERSHIP STRUCTURE		100% Mirvac

	Project Update

Stage 1 (69 lots) is complete and settled. Stage 2A (113 lots) spans two buildings, Meridian and Prima, which were both completed in December 2017 and are 87 per cent sold and settled. Stage 2B, Compass (109 lots), was launched to the market in October 2017 and is approximately 36 per cent pre-sold. Construction is expected to commence in mid 2018. A three month Call Option has been entered into for the Hotel site.

110

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Residential Development Residential

Western Australia

CLAREMONT, CORNER GRAYLANDS ROAD & SHENTON ROAD

CLAREMONT, WA

==> picture [204 x 129] intentionally omitted <==

Acquired in 2015 as part of LandCorpʼs (WA State Government) redevelopment of the Claremont Football Club facilities, and located 9 kilometres south-west of the Perth CBD, Claremont by Mirvac comprises 234 unique apartments set around the periphery of the iconic Claremont Oval.

Summary Information - In Progress	Summary Information - In Progress
ACQUISITION DATE		Jan-15
LOCATION		Claremont
PROJECT VALUE (INCL. GST)		$174.9m
TOTAL LOTS		234
PROJECT PERIOD		FY19 - FY21
OWNERSHIP STRUCTURE		100% Mirvac

	Project Update

Stage 1, Grandstand (142 lots) was released in March 2015, followed by Stage 2, Reserve (92 lots) in May 2016. Both stages are currently under construction, with completion forecast in late 2018.

111

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Residential Development Residential

Western Australia

ILUMA PRIVATE ESTATE, MARSHALL ROAD

WEST SWAN, WA

==> picture [204 x 129] intentionally omitted <==

Iluma Private Estate is a masterplanned community located within the City of Swanʼs urban growth corridor, approximately 15 kilometres north-east of Perthʼs CBD. The 44 hectare site will offer over 600 residential dwellings linked by a series of central linear public open spaces.

Summary Information - In Progress	Summary Information - In Progress
ACQUISITION DATE		Dec-14
LOCATION		West Swan
PROJECT VALUE (INCL. GST)		$164.4m
TOTAL LOTS		611
PROJECT PERIOD		FY18 - FY22
OWNERSHIP STRUCTURE		100% Mirvac

	Project Update

Stage 1, 2A, the first public open space and the sales and information centre have been constructed since the launch of the project in March 2017. Of the 131 released lots, all exchanged contracts have settled. Construction of the Stage 2B and 4 will be commencing in early FY19.

112

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Residential Development Residential Western Australia

OSPREY WATERS, BRIDGEWATER BOULEVARD MANDURAH, WA

==> picture [204 x 129] intentionally omitted <==

Osprey Waters is a 474-lot masterplanned community located 50 minutes from Perth. The site will contain 15 hectares of high-quality landscaped public open space, 2.2 hectares of spectacular foreshore reserve, retained natural bushland, boardwalks, walking trails, playgrounds and other community spaces.

Summary Information - In Progress	Summary Information - In Progress
ACQUISITION DATE		Dec-13
LOCATION		Mandurah
PROJECT VALUE (INCL. GST)		$85.7m
TOTAL LOTS		474
PROJECT PERIOD		FY14 - FY21
OWNERSHIP STRUCTURE		100% Mirvac

	Project Update

Civil construction on Stage 9B (32 lots) is expected to commence in late July 2018, with titles expected in November 2018. There is a redesign process underway for Stages 7 & 8 with a subdivision approval application. Overall, 366 lots have been released, with over 300 of these having settled.

113

MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Residential Development Residential

Western Australia

THE PENINSULA, THE CIRCUS

BURSWOOD, WA

==> picture [204 x 129] intentionally omitted <==

The 17 hectare site is located within the town of Victoria Park on the Burswood Peninsula, approximately five kilometres east of Perthʼs CBD. The development is adjacent to the Burswood Casino and entertainment complex and the new Perth Stadium.

Summary Information - In Progress	Summary Information - In Progress
ACQUISITION DATE		Feb-03
LOCATION		Burswood
PROJECT VALUE (INCL. GST)		$681.3m
TOTAL LOTS		641
PROJECT PERIOD		FY07 - FY23
OWNERSHIP STRUCTURE		100% Mirvac

	Project Update

There has been 430 settlements to date, with 13 lots available. Planning for the next release of the remaining stages is currently in progress.

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MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

Residential Development Residential

Western Australia

MADOX, NICHOLSON ROAD

PIARA WATERS, WA

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The Piara Waters site is located 22 kilometres south-east of the Perth CBD in the locality of the City of Armadale. The project was acquired in February 2016 and consists of 426 lots.

Summary Information - In Progress	Summary Information - In Progress
ACQUISITION DATE		Feb-16
LOCATION		Piara Waters
PROJECT VALUE (INCL. GST)		$127.7m
TOTAL LOTS		426
PROJECT PERIOD		FY18 - FY22
OWNERSHIP STRUCTURE		100% Mirvac

	Project Update

There has been 125 lots released, with all exchanged lots now settled. The central public open space recently achieved practical completion. Planning continues for future stages.

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MIRVAC PROPERTY COMPENDIUM 30 JUNE 2018

IMPORTANT NOTICE

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

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

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

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

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

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

An investment in Mirvac Group stapled securities is subject to investment and other known and unknown risks, some of which are beyond the control of Mirvac Group, including possible delays in repayment and loss of income and principal invested. Mirvac does not guarantee any particular rate of return or the performance of Mirvac Group nor 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 30 June 2018, unless otherwise stated.

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CONTACT
US
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US
AUSTRALIAN TECHNOLOGY PARK, SYDNEY
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Twitter @mirvac Website www.mirvac.com

Phone +61 2 9080 8000 Email [email protected]

AI assistant

MIRVAC GROUP — Management Reports 2018

65328_rns_2018-08-08_a3ec7933-566f-4b55-b262-61d88f14a759.pdf

INVESTMENT OVERVIEW

INVESTMENT OVERVIEW

PROPERTY PORTFOLIO

PROPERTY PORTFOLIO DIVERSIFICATION

SECTOR DIVERSIFICATION[3]

GEOGRAPHIC DIVERSIFICATION[4]

LEASE EXPIRY PROFILE[5]

TOTAL PORTFOLIO

OFFICE PORTFOLIO

INDUSTRIAL PORTFOLIO

RETAIL PORTFOLIO

OFFICE

OFFICE

GRADE DIVERSIFICATION[1]

GEOGRAPHIC DIVERSIFICATION[1]

Office

101-103 MILLER STREET

NORTH SYDNEY, NSW

Investment Property

Office

40 MILLER STREET

NORTH SYDNEY, NSW

Investment Property

Office

10-20 BOND STREET

SYDNEY, NSW

Office

200 GEORGE STREET

SYDNEY, NSW

Investment Property

Office

275 KENT STREET

SYDNEY, NSW

Office

60 MARGARET STREET

SYDNEY, NSW

Investment Property

Office

37 PITT STREET

SYDNEY, NSW

Investment Property

Office

51 PITT STREET

SYDNEY, NSW

Office

6-8 UNDERWOOD STREET

SYDNEY, NSW

Office

QUAY WEST CAR PARK, 109-111 HARRINGTON STREET

SYDNEY, NSW

Investment Property

Office

75 GEORGE STREET

PARRAMATTA, NSW

Office

1 DARLING ISLAND

PYRMONT, NSW

Office

65 PIRRAMA ROAD

PYRMONT, NSW

Office

699 BOURKE STREET

MELBOURNE, VIC

Investment Property

Office

90 COLLINS STREET

MELBOURNE, VIC

Office

367 COLLINS STREET

MELBOURNE, VIC

Office

664 COLLINS STREET

MELBOURNE, VIC

Office

380 ST KILDA ROAD

MELBOURNE, VIC

Investment Property

MIRVAC GROUP Management Reports 2018