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Property Portfolio 31 December 2013

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Stockland Willowdale, NSW
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About
Stockland
We have a long and proud history
of creating places that meet the
needs of our customers and
communities.
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Our PrOPerty POrtfOliO

STOCKLAND IS ONE OF AUSTRALIA’S LEADING DIVERSIFIED PROPERTY GROUPS. WE’RE ACTIVE IN RESIDENTIAL COMMUNITIES, RETIREMENT LIVING, RETAIL AS WELL AS INDUSTRIAL AND OFFICE PROPERTY. THIS PORTFOLIO IDENTIFIES ALL OF OUR PROPERTIES AND PROJECTS ACROSS AUSTRALIA AND THE UNITED KINGDOM.

MORE INFORMATION ON STOCKLAND’S ACTIVITIES AND AN ONLINE VERSION OF PORTFOLIO DATA IS AVAILAbLE AT www.stOckland.cOm.au

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Stockland Merrylands, NSW
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Ervin Graf, 1952

Our stOry

When Stockland was founded in 1952, Ervin Graf had a vision “to not merely achieve growth and profits but to make a worthwhile contribution to the development of our cities and great country”.

Pursuing that vision has seen Stockland grow to become one of Australia’s largest diversified property groups. We develop and manage retail centres, industrial sites, office buildings, residential communities and retirement living villages.

With the benefit of our diverse property skills, we connect different types of properties in shared locations, to create places that inspire people to gather, to share and to live life. We recognise our responsibilities to the environment and are a leader in sustainable business practices.

For over 60 years, we have worked hard to grow our portfolio of assets and projects. We have a long and proud history of creating places that meet the needs of our customers and communities.

Property Portfolio

cOmmercial POrtfOliO

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~~residential POrtfOliO~~

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retail (page 7) 40 properties 953,303 sqm GLA Valued at $5.5 billion

residential communities (page 41)

65 communities 83,800 lots remaining End-market value approximately $20.8 billion*

Excluding value on projects identified for disposal.

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retirement POrtfOliO

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industrial (page 23) 14 properties 1,022,450 sqm GLA Valued at $0.9 billion

retirement living (page 61)

62 established villages 8,208 units Development pipeline of 3,390 units

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unlisted PrOPerty funds

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Office (page 31) 15 properties 370,490 sqm NLA Valued at $1.5* billion * Reflects 100% interest

unlisted Property funds (page 72)

Funds under management $317.7 million

~~POrtfOliO~~ apartments & stockland uk (page 75) Apartments 1 project

64 units

STOCKLAND PROPERTY PORTFOLIO DECEMbER 2013 1

australia Property Portfolio

KEY A Retail Port Adelaide Distribution Centre Office The Grange Retirement Estate Industrial Salford Retirement Estate Residential Communities Unity Retirement Village Apartments Retirement Living Unlisted Property Funds

new sOuth wales sydney cBd and north shore 601 Pacific Highway 77 Pacific Highway 110 Walker Street North Sydney The Rocks A 135 King Street Stockland Piccadilly, 133 Castlereagh Street

KEY Retail Office

new sOuth wales

new sOuth wales /act

Greater sydney

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Marsden Park
Maybrook
Village
Castle Ridge Resort
Stockland
Forrester Distribution Centre Baulkham Hills
Lourdes Retirement Village
The Willows Retirement Village Macquarie Park,
Parramatta B North Ryde Ryde Chatswood
Stockland Balgowlah
North
Merrylands Court Sydney
Stockland Merrylands Stockland Cammeray
Stockland
Wetherill Park 9-11a Ferndell Street, Granville
Davis Road, Wetherill Park
Yennora Distribution Centre
Cardinal Freeman
Retirement Village Sydney
Sydney
Airport
Bexley
Willowdale Gardens
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KEY B Retail Macquarie Technology Centre Office 16 Giffnock Avenue Industrial Optus Centre, Macquarie Park Residential Communities 60–66 Waterloo Road Retirement Living Triniti business Campus Unlisted Property Funds

north/south coast canberra and surrounds

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Hundred Hills
Tamworth Homespace
F
E
Stockland Forster/Woolworths Forster
Golden Ponds Resort
Anambah
Lochinvar McKeachie’s Run
Newcastle
C The Village Swansea
Murrays Beach/Wallarah Peninsula
Wamberal Gardens Retirement Village
Stockland Bathurst
The Cove Village
Waterside
Glenmore Ridge
Sydney
Macarthur Gardens Retirement Village
Macquarie Grove Retirement Village Sandon Point
Waratah Highlands Village
Brooks Reach/Illawarra/West Dapto 2 Stockland Corrimal
Stockland Shellharbour
Shellharbour Retail Park
Stockland Nowra
Vincentia Shopping Centre
Bayswood
ACT
D
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||||
|---|---|---|
|KEY|C|E|
|Retail|Stockland Green Hills|Queens Lake Village|
|Office|Stockland Glendale|Camden View Village|
|Residential Communities|Stockland Jesmond|F|
|Retirement Living|Stockland Wallsend|Parklands Village (formerly Hastings Parklands Village)|
|Unlisted Property Funds|D|Lincoln Gardens Retirement Village|
|40 Cameron Avenue, belconnen|bellevue Gardens Retirement Village|
|Ridgecrest Village|

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STOCKLAND PROPERTY PORTFOLIO DECEMbER 2013

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Queensland Queensland
Greater Brisbane
Brisbane cBd
Caboolture West/Ripeford
Stone Ridge
Fig Tree Village
G North Lakes
Freshwater China Town
Kangaroo
Point
Waterfront Place
Export Park
Farrington Grove Retirement Estate
Hendra Distribution Centre
South Brisbane
Brisbane
Woolworths Toowong
80-88 Jephson Street,
23 and 27-29 High Street, Toowong
Stockland
Cleveland
Garden Square,
Mt Gravatt
Greenleaves Retirement Village
Salford Waters
Ipswich Brookbent Road Retirement Estate
Jimboomba Village Shopping Centre
Sovereign Pocket
Paradise Waters
Augustine Heights
M1 Yatala Enterprise Park
KEY G KEY
Retail North Lakes Office
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KEY G Retail North Lakes Office North Lakes business Park Industrial North Lakes Enterprise Precinct Residential Communities North Lakes Retirement Resort Retirement Living Unlisted Property Funds

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Queensland Queensland Queensland
sunshine
Gold coast coast far north
Vale
Bahrs Scrub Doonella Noosa
Noosa Heads
Ormeau Ridge
Hope Island Cairns
Stockland Cairns
Highland Reserve
Oxenford
Riverstone Crossing
Pacific Pines
Pacific Pines Townsville
Shopping Centre
North Shore
Southport Stockland Townsville
Twin Waters West
Surfers Paradise
Benowa Gardens
Maroochydore
Mackay
Brightwater
Kawana Business Village Bokarina Beach
Lake Kawana
Burleigh Central Birtinya Island
Stockland Burleigh Heads
The Observatory
Burleigh Heads Stockland Caloundra Rockhampton
Bellcarra Retirement Resort Stockland Rockhampton
Pine Lake Village Bells Reach Gladstone
Stockland Gladstone
Caloundra
Caloundra South
Stockland Hervey Bay
KEY KEY KEY
Retail Retail Retail
Residential Communities Residential Communities Residential Communities
Retirement Living Retirement Living
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KEY Retail Residential Communities Retirement Living Unlisted Property Funds

STOCKLAND PROPERTY PORTFOLIO DECEMbER 2013

VictOria Greater melbourne

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Lockerbie
Midlands Stockland Wendouree Mernda Retirement Village
Terrace Sunbury Highlands/Craigieburn/Highlands Retirement Village
Gowanbrae Village 40 Scanlon Drive, Epping
10 Stubb Street, Somerton20-50 & 76-82 Fillo Drive & Eucalypt H
Bundoora Village
Keilor Village Latrobe Village
The Lakes Estate Templestowe Village
Taylor Hill Village Rylands Rylands of Hawthorn Stockland The Pines
Burnside Village of Kew
Tooronga
Donvale Village
Tarneit Skies Retirement Village Brooklyn Estate,
Brooklyn Cameron Close Village
Toll Business Park,
Davis Road Allura Altona Vermont Village I
Altona Distribution Centre
1090-1124 Centre
Stockland Point Cook Oak Road, Oakleigh
Grange
Geelong Patterson Lakes Village
Selandra Rise Retirement Village
Cranbourne J
Long Island Village
Rosebud Village
Stockland Traralgon
Gillin Park Retirement Village
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KEY H J
Retail Arilla Village Sierra
Industrial Plenty Valley Village Arbourlea
Residential Communities I
Retirement Living Knox Village
Salford Park Community Village
Wantirna Village
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western australia

Perth and surrounds

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Amberton
Vale
Corimbia Whiteman Edge
K Perth
Stockland Riverton
Stockland Bull Creek
The Islands
Calleya Newhaven
Sienna Wood
Brookdale West
L Baldivis
Halls Head
Village Murray River Village
Leschenault Village
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KEY K L
Retail Durack Centre baldivis Town Centre
Office River Parks Village Settlers Hills Townside
Residential Communities River Pines Village Affinity Village
Apartments Stockland baldivis
Retirement Living
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retail cOmmercial POrtfOliO

Retail

Stockland is one of the largest retail property owners, developers and managers in Australia. At 31 December 2013 the portfolio comprises 40 retail centres valued at $5.5 billion. The properties accommodate more than 3,300 tenants and generate in excess of $5.8 billion in retail sales per annum.

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Stockland Shellharbour, NSW

Lease expiry profile %*

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2 9 10 10 12 57
Includes non-comparable development GLA
Vacant FY
14 15 16 17 18+
Geographic split %
55 11 30 4
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NSW VIC QLD WA
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STOCKLAND PROPERTY PORTFOLIO DECEMbER 2013

retail cOmmercial POrtfOliO

HERVEY BAY, QLD

HERvEy BAy IS A SINGLE LEvEL SuB-REGIoNAL SHoppING cENtRE LocAtEd oN tHE FRASER coASt, 300 kILoMEtRES NoRtH oF BRISBANE. tHE cENtRE IS ANcHoREd By tARGEt, SupA IGA ANd 39 SpEcIALty StoRES. coNStRuctIoN oN tHE 20,000SqM ExpANSIoN IS coNtINuING WItH A SEcoNd dA ALSo SuBMIttEd. tHE REdEvELopEd cENtRE IS ExpEctEd to BE tHE LARGESt BEtWEEN RockHAMptoN ANd MARoocHydoRE.

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retail cOmmercial POrtfOliO

Retail Portfolio as at 31 December 2013

							Annual sales	Specialty
				Book value	1H14 AIFRS	% of Retail	December 2013	occupancy	Specialty
Page	Property	Location	GLA (m2)	($m)	NOI ($m)	Portfolio	($m)	costs (%)*	sales ($/m2)*
10	Stockland Shellharbour	NSW	74,889	679.7	14.6	12.4	346.9	N/A	N/A
10	Stockland Merrylands	NSW	57,605	474.5	14.3	8.7	311.8	N/A	N/A
10	Stockland Townsville#	QLD	58,664	432.1	11.1	7.9	331.5	N/A	N/A
11	Stockland Rockhampton	QLD	57,596	365.0	11.0	6.7	366.8	15.2	8,557
11	Stockland Wetherill Park	NSW	56,042	364.6	11.3	6.7	252.5	N/A	N/A
11	Stockland Green Hills	NSW	33,221	277.3	9.8	5.1	329.4	13.9	13,506
12	Stockland Glendale	NSW	55,122	261.0	9.0	4.8	306.8	15.7	8,289
12	Stockland Cairns	QLD	49,837	218.3	7.2	4.0	255.4	14.2	8,225
12	Stockland Point Cook	VIC	43,011	183.5	6.5	3.4	196.2	16.2	5,008
13	Stockland burleigh Heads	QLD	27,981	152.5	5.1	2.8	178.7	13.5	8,264
13	Stockland The Pines	VIC	25,317	139.3	5.5	2.5	171.0	19.0	7,131
13	Stockland Forster**	NSW	38,480	136.1	5.2	2.5	207.3	13.5	7,481
14	Stockland Gladstone	QLD	27,987	134.5	5.3	2.5	207.5	11.5	13,369
14	Stockland Wendouree	VIC	25,348	126.5	4.3	2.3	164.4	13.3	8,293
14	Stockland Jesmond	NSW	20,546	124.8	4.6	2.3	147.4	14.7	9,149
15	Stockland balgowlah	NSW	12,894	115.3	3.4	2.1	133.8	16.9	7,390
15	Stockland baulkham Hills	NSW	17,809	110.5	3.8	2.0	135.7	13.7	7,768
15	Stockland Caloundra/Stockland South	QLD	22,159	110.1	4.0	2.0	169.7	11.8	10,592
16	Stockland bull Creek	WA	16,702	90.8	3.2	1.7	117.7	13.0	9,311
16	Stockland Nowra	NSW	16,218	89.5	3.3	1.6	136.7	12.6	11,276
16	Stockland Cleveland	QLD	15,742	87.2	3.0	1.6	141.2	13.1	7,882
17	Stockland Traralgon	VIC	19,471	85.8	3.5	1.6	121.1	14.3	7,848
17	Stockland bathurst	NSW	19,305	79.8	3.3	1.5	107.3	12.6	9,602
17	Stockland Herveybay	QLD	23,913	64.7	1.4	1.2	74.5	N/A	N/A
18	Stockland Corrimal	NSW	9,751	62.2	2.4	1.1	117.3	14.3	8,447
18	Stockland Riverton^	WA	19,794	60.7	2.1	1.1	145.5	13.9	7,221
18	Stockland Piccadilly	NSW	5,253	54.8	1.4	1.0	23.8	23.2	8,415
19	Stockland Wallsend	NSW	11,997	53.7	2.1	1.0	84.4	11.6	7,597
19	Stockland Tooronga	VIC	8,984	50.7	1.9	0.9	102.6	14.7	6,435
19	Shellharbour Retail Park	NSW	22,145	48.0	2.2	0.9	123.1	N/A	N/A
20	Stockland baldivis	WA	7,159	46.2	1.9	0.8	103.5	8.5	11,398
20	Stockland Cammeray	NSW	4,737	32.2	1.1	0.6	22.9	15.3	7,320
–	Glasshouse – 135 KingStreet,Sydney^	NSW	3,926	32.0	0.3	0.6	N/A	N/A	N/A
20	Stockland Highlands	VIC	7,819	24.8	0.7	0.5	50.6	13.4	5,792
21	Stockland North Shore	QLD	5,757	20.5	0.7	0.4	47.4	7.9	7,902
–	Stockland burleigh Central	QLD	7,914	16.2	0.6	0.3	N/A	N/A	N/A
21	Jimboomba Village ShoppingCentre^	QLD	11,336	15.9	0.6	0.3	46.4	8.0	8,674
21	Woolworths Toowong	QLD	2,275	13.5	0.2	0.2	N/A	N/A	N/A
22	Stockland Vincentia ShoppingCentre	NSW	4,163	11.0	0.6	0.2	53.8	12.0	3,671
–	Stockland Merrylands Court	NSW	4,434	9.0	0.2	0.2	N/A	N/A	N/A
			953,303	5,454.8	172.7	100.0

Note this number is only inclusive of retailers operating for longer than two years
Includes townsville kmart centre

** Excludes adjacent land holdings

^ Book value represents Stockland’s 50% ownership
n.b. excludes Stockland Glenrose, Eagle Street pier, capital works in progress and sundry properties

STOCKLAND PROPERTY PORTFOLIO DECEMbER 2013

retail cOmmercial POrtfOliO

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~~Stockland Shellharbour~~

Shellharbour is located on the south coast of NSW. The centre has completed a $330 million redevelopment and is the only major regional shopping centre located within the trade area and includes Myer, Kmart, Target, Coles, Woolworths, nine mini-majors and over 210 specialty stores. The centre boasts an alfresco dining precinct, children’s play area and five star parents’ facilities, while the retail mix offers a strong fresh food, fashion and service provision.

Location: Shellharbour, NSW
Acquisition date:	Jun 2003
ownership/title:	100%/Freehold
cost includingadditions:	$465.1 million

Last independent valuation
date:	dec 2013
valuation/($/m2):	$679.7 million($9,076/m²)
capitalisation rate:	6.00%
discount rate:	8.75%
carparkingspaces:	3,388

Gross lettable area:	74,889m2
Annual sales:	$346.9 million*
Specialtyoccupancycost:	N/A
Weighted average lease expiry:	10.0years

Major tenants	GLA(m2)	Lease expiry
Myer	11,850	May2038
kmart	6,500	May2032
coles	4,500	May2032
Woolworths	3,870	dec 2032
target	7,171	Jul 2015

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~~Stockland Merrylands~~

Located 21 kilometres west of the Sydney CbD, this centre has serviced the local community for over 40 years. A $395 million redevelopment was completed in October 2012. This fully enclosed regional shopping centre now has convenient parking with 3,000 spaces, big W, Kmart, Target, Coles, Woolworths, ALDI, five minimajors and 215 specialty shops.

Location: Merrylands, NSW

Location: Merrylands, NSW
Acquisition date:	Sep1982
ownership/title:	100%/Freehold
cost includingadditions:	$419.3 million

Last independent valuation
date:	dec 2012
valuation/($/m2):	$473.7 million($8,010/m²)
capitalisation rate:	6.25%
discount rate:	8.75%
carparkingspaces:	3,000

Gross lettable area:	57,605m2
Annual sales:	$311.8 million*
Specialtyoccupancycost:	N/A
Weighted average lease expiry:	9.4years

Major tenants	GLA(m2)	Lease expiry
BigW	7,900	oct 2032
kmart	7,159	Nov 2017
target	6,088	Nov 2028
coles	4,424	Nov 2031
Woolworths	3,820	oct 2032

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Stockland Townsville

Located in the geographical heart of Townsville, the centre has completed a $180 million redevelopment which has delivered the region’s only full line Myer department store, a new 750-seat dining terrace and increased the number of specialty stores to 180. The centre now also includes big W, Woolworths and four mini-majors. There is additional land to the east for future development. A first stage DA for the creation of an entertainment and lifestyle precinct has been lodged. The retail precinct includes the Townsville Kmart centre.

Location: Townsville, QLD

Location: Townsville, QLD
Acquisition date:	Jun 1987/Mar 2012
ownership/title:	100%/Freehold
cost includingadditions:	$316.6 million

Last independent valuation
date:	dec 2013
valuation/($/m2):	$432.1 million($7,365/m²)
capitalisation rate:	6.25%-7.25%
discount rate:	8.75%
carparkingspaces:	2,896

Gross lettable area:	58,664m2**
Annual sales:	$331.5 million*
Specialtyoccupancycost:	N/A
Weighted average lease expiry:	8.9years

Major tenants	GLA(m2)	Lease expiry
Myer	12,000	oct 2037
BigW	6,987	Apr 2015
Woolworths	4,200	dec 2031
kmart	7,416	Sep2021
coles	3,377	Jul 2018

Lease expiry profile %

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Vacant FY
14
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3 4 3 15 9
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transitional MAt

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66
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2 14 7 6 80
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transitional MAt

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3 8 14 3 3 69
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transitional MAt
** Includes the townsville kmart centre

14 15 16 17 18+

retail cOmmercial POrtfOliO

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~~Stockland Rockhampton~~

Rockhampton is the largest shopping centre between Maroochydore and Mackay and includes Woolworths, Coles, Kmart, big W, 11 minimajors and 172 specialty shops. The centre also includes an extensive mix of national and local retailers plus birch Carroll and Coyle Cinemas, Sizzler, Jetts Fitness Centre, a swim school and medical centre. Masterplanning is underway for the next stage with a DA expected to be lodged in 2014.

Location: Rockhampton, QLD

Acquisition date: Jun 2003 ownership/title: 100%/Freehold cost including additions: $260.0 million Last independent valuation date: dec 2012 valuation/($/m[2] ): $365.0 million ($6,672/m²) capitalisation rate: 6.50% discount rate: 9.00% car parking spaces: 3,015 Gross lettable area: 57,596m[2] Annual sales: $366.8 million Specialty occupancy cost: 15.2% Weighted average lease expiry: 5.8 years Major tenants GLA (m[2] ) Lease expiry Big W 8,211 Nov 2028 kmart 6,000 Aug 2024 Woolworths 4,223 Aug 2015 coles 3,642 Aug 2024 Birch carroll and coyle cinemas 3,392 dec 2018

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~~Stockland Wetherill Park~~

Wetherill Park is a highly productive shopping centre located in the south-west of Sydney. The 12 hectare site boasts a diverse offering including big W, Target, Woolworths, Hoyts Cinema and 140 specialty stores. The centre is undergoing a redevelopment to expand it by 15,000sqm including a larger entertainment and lifestyle precinct, a new full line Coles supermarket, eight mini-majors and 85 specialty stores.

Location: Western Sydney, NSW Acquisition date: Aug 1983 ownership/title: 100%/Freehold cost including additions: $118.8 million Last independent valuation date: dec 2011 valuation/($/m[2] ): $358.0 million ($6,534/m²) capitalisation rate: 6.75% discount rate: 9.00% car parking spaces: 1,988 Gross lettable area: 56,042m[2] Annual sales: $252.5 million Specialty occupancy cost: N/A Weighted average lease expiry: 8.3 years Major tenants GLA (m[2] ) Lease expiry Big W 8,097 Jun 2025 target 7,020 Jul 2018 Hoyts 4,613 Nov 2023 Woolworths 4,346 Jun 2021

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~~Stockland Green Hills~~

This strongly performing centre includes Woolworths, Coles, big W, a food court and 90 specialty stores. It is the largest shopping centre in its trade area and is ranked number three in Australia for MAT/sqm in the Shopping Centre News Little Guns 2013 Survey. A development application has been approved for the expansion of the centre, which allows for a new department store, discount department store, up to eight mini-majors, an additional 130 specialty stores, a food court and 1,500 additional car parking spaces.

Location: East Maitland, NSW

Acquisition date: dec 2000 ownership/title: 100%/Freehold cost including additions: $130.2 million Last independent valuation date: Jun 2012 valuation/($/m[2] ): $271.0 million ($8,171/m²) capitalisation rate: 6.75% discount rate: 9.00% car parking spaces: 1,604 Gross lettable area: 33,221m[2] Annual sales: $329.4 million Specialty occupancy cost: 13.9% Weighted average lease expiry: 5.5 years Major tenants GLA (m[2] ) Lease expiry Big W 8,024 Sep 2022 Woolworths 4,871 Sep 2022 coles 3,702 Sep 2017

Lease expiry profile %

1 10 14

5* 7 10 6 8

7 17 6 1 69

Includes vacancies held for development

8 53

STOCKLAND PROPERTY PORTFOLIO DECEMbER 2013 11

retail cOmmercial POrtfOliO

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Stockland Glendale

Located on the northern fringe of Lake Macquarie, Glendale was the first of the true super centre concepts combining retail, leisure and entertainment on a large 19.6 hectare site. The retail mix includes Target, Kmart, Events Cinemas, Coles, Woolworths, Harris Farm Markets, Jb Hi-Fi, Trade Secret and ALDI and is complimented by over 2,300 car parking spaces on one single level.

Location: Newcastle, NSW
Acquisition date:	Mar 1996
ownership/title:	100%/Freehold
cost includingadditions:	$93.2 million

Last independent valuation
date:	Jun 2012
valuation/($/m2):	$255.0 million($4,633/m²)
capitalisation rate:	6.75%
discount rate:	9.25%
carparkingspaces:	2,338

Gross lettable area:	55,122m2
Annual sales:	$306.8 million
Specialtyoccupancycost:	15.7%
Weighted average lease expiry:	3.6years

Major tenants	GLA(m2)	Lease expiry
target	8,522	Jul 2016
kmart	6,425	Nov 2020
coles	5,109	Mar 2016
Woolworths	4,952	Mar 2016
Events cinemas	5,324	dec 2016

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Stockland Cairns

Located on the main southern arterial road accessing Cairns, the centre occupies an 11 hectare site and has two discount department stores, two supermarkets, nine mini-majors and 125 specialty stores. A successful shopping centre, it now features a new Coles concept supermarket and an upgraded council library, a 750-seat food court and six screen cinema.

Location: Cairns, QLD

Location: Cairns, QLD
Acquisition date:	Jun 1992
ownership/title:	100%/Freehold
cost includingadditions:	$172.8 million

Last independent valuation
date:	Jun 2013
valuation/($/m2):	$217.0 million($4,380/m²)
capitalisation rate:	6.75%
discount rate:	9.00%
carparkingspaces:	2,381

Gross lettable area:	49,837m2
Annual sales:	$255.4 million
Specialtyoccupancycost:	14.2%
Weighted average lease expiry:	5.2years

Major tenants	GLA(m2)	Lease expiry
BigW	8,259	Jun 2024
target	7,079	Jul 2015
Woolworths	4,254	Jun 2016
coles	3,698	Mar 2029
Birch carroll and coyle cinemas	3,184	Nov 2021

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Stockland Point Cook

Point Cook is a recently developed two level, sub-regional centre located in the Wyndham region, 23 kilometres west of the Melbourne CbD. The centre is anchored by Target, Harris Scarfe, Coles, ALDI, Dan Murphy, Rebel Sport and ten mini-majors, 115 specialty stores and 20 commercial suites. The centre is located in one of Melbourne’s fastest growing population corridors and has further expansion and remixing potential.

Location: Point Cook, VIC

Location: Point Cook, VIC
Acquisition date:	Jun 2011
ownership/title:	100%/Freehold
cost includingadditions:	$190.9 million

Last independent valuation
date:	dec 2013
valuation/($/m2):	$183.5 million($4,266/m²)
capitalisation rate:	7.25%
discount rate:	9.00%
carparkingspaces:	1,534

Gross lettable area:	43,011m2
Annual sales:	$196.2 million
Specialtyoccupancycost:	16.2%
Weighted average lease expiry:	6.4years

Major tenants	GLA(m2)	Lease expiry
target	6,500	Aug2028
coles	4,008	Aug2028
Harris Scarfe	2,587	Nov 2019
ALdI	1,300	Aug2018

Lease expiry profile %

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4 2 8 12 9 65
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Includes vacancies held for development

Vacant FY 14 15 16 17 18+

retail cOmmercial POrtfOliO

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~~Stockland Burleigh Heads~~

burleigh Heads is a fully enclosed, single level shopping centre located on the Gold Coast, 80 kilometres south of brisbane. Situated near the intersection of two arterial roads, the centre is anchored by big W and Woolworths. ALDI will commence trading in April 2014. The centre also includes best & Less, The Reject Shop, 110 specialty stores and a 400-seat food court.

Location: Burleigh Heads, QLD
Acquisition date:	Aug2003
ownership/title:	100%/Freehold
cost includingadditions:	$119.8 million

Last independent valuation
date:	June 2013
valuation/($/m2):	$151.5 million($5,650/m²)
capitalisation rate:	7.50%
discount rate:	9.25%
carparkingspaces:	1,455

Gross lettable area:	27,981m2
Annual sales:	$178.7 million
Specialtyoccupancycost:	13.5%
Weighted average lease expiry:	7.1years

Major tenants	GLA(m2)	Lease expiry
BigW	6,673	Mar 2025
Woolworths	4,356	Apr 2026

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~~Stockland The Pines~~

The Pines is well located in one of Melbourne’s strong socio-economic trade areas. The retail mix includes Coles, ALDI, Woolworths, Target, and over 100 specialty stores including The Reject Shop and Dick Smith. The centre is well regarded within the community for its high level of convenience, complemented by representation from the major banks, Australia Post, a medical clinic and a 200-seat food court.

Location: Doncaster East, VIC
Acquisition date:	Nov 2004
ownership/title:	100%/Freehold
cost includingadditions:	$131.8 million

Last independent valuation
date:	dec 2012
valuation/($/m2):	$138.5 million($5,634/m²)
capitalisation rate:	7.50%
discount rate:	9.50%
carparkingspaces:	1,471

Gross lettable area:	25,317m2
Annual sales:	$171.0 million
Specialtyoccupancycost:	19.0%
Weighted average lease expiry:	7.2years

Major tenants	GLA(m2)	Lease expiry
target	6,829	Jul 2022
Woolworths	3,830	Jul 2024
coles	3,197	oct 2024
ALdI	1,374	oct 2019

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~~Stockland Forster~~

Forster is located on the mid-north coast of NSW and includes a Coles, Woolworths, ALDI, Kmart and Target Country. The centre has over 75 specialty stores, an outdoor take-away food/café precinct, children’s play area and fully equipped parents’ room. The adjoining retail park includes large format retail tenancies including a flagship bunnings Warehouse.

Location: Forster, NSW

Location: Forster, NSW
Acquisition date:	Jul 2003/May2010
ownership/title:	100%/Freehold
cost includingadditions:	$114.7 million

Last independent valuation
date:	June 2013
valuation/($/m2):	$135.5 million($3,528/m²)
capitalisation rate:	7.50%
discount rate:	9.25%
carparkingspaces:	1,435

Gross lettable area:	38,480m2
Annual sales:	$207.3 million
Specialtyoccupancycost:	13.5%
Weighted average lease expiry:	2.5years

Major tenants	GLA(m2)	Lease expiry
Bunnings	8,008	Mar 2014
kmart	5,838	Jan 2015
coles	4,083	Jan 2015
Woolworths	3,800	Nov 2020
target	1,500	Nov 2016

Lease expiry profile %

5* 3 5 10 9 68

2 4 6 7 81

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Includes vacancies held for remix

STOCKLAND PROPERTY PORTFOLIO DECEMbER 2013 13

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~~Stockland Gladstone~~

Gladstone is located on the Dawson Highway and is the only major shopping centre in the region. The Centre was ranked 4th in the Little Guns 2013 Survey for Specialty MAT per sqm. The property comprises Coles, Woolworths, Kmart, big W, Target Country and 48 specialty stores. Over 3.2 hectares of rezoned land borders the property, with a development application approved by Gladstone Regional Council in December 2013 for an additional 28,530sqm.

Location: Gladstone, QLD

Location: Gladstone, QLD
Acquisition date:	oct 2000
ownership/title:	100%/Freehold
cost includingadditions:	$74.0 million

Last independent valuation
date:	dec 2013
valuation/($/m2):	$134.5 million($4,805/m²)
capitalisation rate:	7.50%
discount rate:	9.25%
carparkingspaces:	1,363

Gross lettable area:	27,987m2
Annual sales:	$207.5 million
Specialtyoccupancycost:	11.5%
Weighted average lease expiry:	3.1years

Major tenants	GLA(m2)	Lease expiry
kmart	6,687	Sep2017
BigW	6,828	Aug2016
Woolworths	3,264	Aug2016
coles	2,995	Sep2017
target	1,481	Sep2017

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~~Stockland Wendouree~~

Located in the historic city of ballarat, 110 kilometres west of Melbourne, this sub-regional shopping centre includes Kmart, Coles, Safeway and 84 specialty stores. The centre also includes a fully equipped parents’ room and the regional library. Additional land surrounding Wendouree allows for future development. A development application has been approved for future expansion.

Location: Wendouree, VIC

Acquisition date: Jun 2003 ownership/title: 100%/Freehold cost including additions: $67.3 million Last independent valuation date: dec 2013 valuation/($/m[2] ): $126.5 million ($4,990/m²) capitalisation rate: 7.25% discount rate: 9.50% car parking spaces: 1,212 Gross lettable area: 25,348m[2] Annual sales: $164.4 million Specialty occupancy cost: 13.3% Weighted average lease expiry: 3.6 years Major tenants GLA (m[2] ) Lease expiry kmart 7,831 May 2018 coles 3,252 Aug 2022 Safeway 3,463 Nov 2020

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Stockland Jesmond

Located in the suburb of Jesmond, Newcastle, the centre is constructed on five hectares and anchored by Woolworths and big W as well as 74 specialty stores. The centre is supported by extensive car parking, a new parents’ room and public transport facilities. The centre is located in close proximity to Newcastle University campus.

Location: Newcastle, NSW

Location: Newcastle, NSW
Acquisition date:	Feb 1984
ownership/title:	100%/Freehold
cost includingadditions:	$47.4 million

Last independent valuation
date:	dec 2012
valuation/($/m2):	$122.5 million($6,027/m²)
capitalisation rate:	7.88%
discount rate:	9.50%
carparkingspaces:	948

Gross lettable area:	20,546m2
Annual sales:	$147.4 million
Specialtyoccupancycost:	14.7%
Weighted average lease expiry:	8.2years

Major tenants	GLA(m2)	Lease expiry
BigW	7,944	Jun 2029
Woolworths	3,053	Nov 2019

Lease expiry profile %

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Vacant FY

14 15 16 17 18+

retail cOmmercial POrtfOliO

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~~Stockland Balgowlah~~

Located in the northern suburbs of Sydney, the centre occupies 13,000sqm of ‘The Village’, a mixed-use development with 240 residential apartments. Construction of this centre was completed in June 2009 and delivers a convenient and unique boutique style centre. Coles recently completed a store upgrade with their new concept supermarket. This anchors the centre with Platinum Fitness First and 60 specialty stores, which includes a quality fresh food market, a fashion precinct and 720 retail car parking spaces. The second level is an open air plaza offering a restaurant and service precinct.

Location: Balgowlah, NSW

Acquisition date: Jun 2009/Nov 2009 ownership/title: 100%/Freehold cost including additions: $130.9 million

Last independent valuation

date: dec 2012 valuation/($/m[2] ): $115.0 million ($8,934/m²) capitalisation rate: 7.25% discount rate: 9.50% car parking spaces: 720 Gross lettable area: 12,894m[2] Annual sales: $133.8 million Specialty occupancy cost: 16.9% Weighted average lease expiry: 8.1 years Major tenants GLA (m[2] ) Lease expiry coles 4,464 Jun 2029

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~~Stockland Baulkham Hills~~

baulkham Hills is conveniently located near the intersection of two arterial roads within the Hills Shire; 30 kilometres north-west of the Sydney CbD. The centre includes Woolworths, Coles, ALDI, Harris Farm Markets, over 70 specialty stores and services, 850 car parking spaces, an outdoor children’s play area and a fully equipped parents’ room.

Location: Baulkham Hills, NSW

Location: Baulkham Hills, NSW
Acquisition date:	Sep1982
ownership/title:	100%/Freehold
cost includingadditions:	$88.5 million

Last independent valuation
date:	Jun 2012
valuation/($/m2):	$108.0 million($6,095/m²)
capitalisation rate:	7.50%
discount rate:	9.25%
carparkingspaces:	850

Gross lettable area:	17,809m2
Annual sales:	$135.7 million
Specialtyoccupancycost:	13.7%
Weighted average lease expiry:	7.4years

Major tenants	GLA(m2)	Lease expiry
Woolworths	3,855	Jul 2027
coles	3,034	Jun 2027
ALdI	1,429	dec 2016

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~~Stockland Caloundra/Stockland South~~

Caloundra is located within the southern part of the Sunshine Coast in a population growth corridor. The centre includes a Coles, Kmart and 48 specialty stores and there is over one hectare of land adjacent for future expansion. Development applications have been lodged for an additional discount department store and associated retail on adjoining land and for additional retail on the existing site. Opposite Stockland Caloundra is Stockland South, a neighbourhood shopping centre anchored by Woolworths and five specialty stores.

Location: Caloundra, QLD

Location: Caloundra, QLD
Acquisition date:	Jun 2003/dec 2009
ownership/title:	100%/Freehold
cost includingadditions:	$78.3 million

Last independent valuation
date:	dec 2013
valuation/($/m2):	$110.1 million($4,968/m²)
capitalisation rate:	7.25%-7.50%
discount rate:	9.00%
carparkingspaces:	1,141

Gross lettable area:	22,159m2
Annual sales:	$169.7 million
Specialtyoccupancycost:	11.8%
Weighted average lease expiry:	5.2years

Major tenants	GLA(m2)	Lease expiry
kmart	7,075	Mar 2018
Woolworths	4,288	dec 2029
coles	3,957	Jul 2020

Lease expiry profile %

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1 7 7 12 5 68

STOCKLAND PROPERTY PORTFOLIO DECEMbER 2013 15

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Stockland Bull Creek

bull Creek is a single level sub-regional centre located 15 kilometres south of the Perth CbD. The centre is anchored by Woolworths, Target and 47 specialty stores. The centre is positioned as a convenience and value destination in this dense trade area.

Location: Bull Creek, WA
Acquisition date:	Jun 2003
ownership/title:	100%/Freehold
cost includingadditions:	$58.8 million

Last independent valuation
date:	June 2013
valuation/($/m2):	$90.5 million($5,419/m²)
capitalisation rate:	7.25%
discount rate:	9.25%
carparkingspaces:	910

Gross lettable area:	16,702m2
Annual sales:	$117.7 million
Specialtyoccupancycost:	13.0%
Weighted average lease expiry:	3.2years

Major tenants	GLA(m2)	Lease expiry
target	8,131	Jul 2018
Woolworths	3,426	Nov 2013

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Stockland Nowra

Nowra is a sub-regional centre conveniently located on the Princes Highway, a major arterial road, 160 kilometres south of Sydney. The centre is anchored by Kmart, Woolworths and 50 specialty stores. The centre has six hectares of zoned land adjacent to the site with development approval for an additional 30,000sqm of GLA.

Location: Nowra, NSW
Acquisition date:	Jun 2003
ownership/title:	100%/Freehold
cost includingadditions:	$65.9 million

Last independent valuation
date:	dec 2012
valuation/($/m2):	$88.0 million($5,515/m²)
capitalisation rate:	7.75%
discount rate:	9.50%
carparkingspaces:	819

Gross lettable area:	16,218m2
Annual sales:	$136.7 million
Specialtyoccupancycost:	12.6%
Weighted average lease expiry:	2.5years

Major tenants	GLA(m2)	Lease expiry
kmart	7,190	Nov 2013
Woolworths	4,230	Nov 2020

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Stockland Cleveland

Located 25 kilometres south-east of the brisbane CbD, Stockland Cleveland is a successful example of an integrated town centre development. The centre comprises two separate malls, anchored by Coles, Woolworths and over 60 specialty stores.

Location: Cleveland, QLD

Location: Cleveland, QLD
Acquisition date:	oct 2002
ownership/title:	100%/Freehold
cost includingadditions:	$74.9 million

Last independent valuation
date:	dec 2012
valuation/($/m2):	$86.0 million($5,473/m²)
capitalisation rate:	7.50%
discount rate:	9.50%
carparkingspaces:	780

Gross lettable area:	15,742m2
Annual sales:	$141.2 million
Specialtyoccupancycost:	13.1%
Weighted average lease expiry:	2.4years

Major tenants	GLA(m2)	Lease expiry
Woolworths	4,031	Aug2014
coles	3,536	oct 2017

Lease expiry profile %

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Vacant FY 14 15 16 17 18+

retail cOmmercial POrtfOliO

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~~Stockland Traralgon~~

Traralgon is located in the Latrobe Valley region of Victoria, 160 kilometres east of Melbourne. The Centre is anchored by Coles and Kmart and has 48 specialty stores. The majority of the car parking is undercover.

Location: Traralgon, VIC

Acquisition date: Jun 2003 ownership/title: 100%/Freehold cost including additions: $50.4 million Last independent valuation date: dec 2013 valuation/($/m[2] ): $85.8 million ($4,406/m²) capitalisation rate: 7.75% discount rate: 9.25% car parking spaces: 756 Gross lettable area: 19,471m[2] Annual sales: $121.1 million Specialty occupancy cost: 14.3% Weighted average lease expiry: 4.4 years Major tenants GLA (m[2] ) Lease expiry kmart 8,107 Nov 2018 coles 4,737 Nov 2018

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~~Stockland Bathurst~~

Located in the bathurst CbD and is a single level sub regional shopping centre. It includes Target, big W, Woolworths and 38 specialty stores.

Location: Bathurst, NSW

Acquisition date: Jun 2003 ownership/title: 100%/Freehold cost including additions: $58.5 million Last independent valuation date: dec 2013 valuation/($/m[2] ): $79.8 million ($4,133/m²) capitalisation rate: 7.75% discount rate: 9.25% car parking spaces: 525 Gross lettable area: 19,305m[2] Annual sales: $107.3 million Specialty occupancy cost: 12.6% Weighted average lease expiry: 2.9 years Major tenants GLA (m[2] ) Lease expiry Big W 6,150 Mar 2015 target 5,973 Nov 2019 Woolworths 2,940 Nov 2014

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~~Stockland Hervey Bay~~

Hervey bay is a single level sub-regional shopping centre located on the Fraser Coast, 300 kilometres north of brisbane. The centre is anchored by Target, Supa IGA and 39 specialty stores. The centre is located on a 12 hectare site and construction continues on a 20,000sqm expansion, with a second DA also submitted. The redeveloped centre is expected to be the largest between Rockhampton and Maroochydore.

Location: Hervey Bay, QLD

Acquisition date: Apr 2011 ownership/title: 100%/Freehold cost including additions: $72.1 million Last independent valuation date: Jun 2012 valuation/($/m[2] ): $63.7 million ($4,091/m²) capitalisation rate: 7.50% discount rate: 9.50% car parking spaces: 992 Gross lettable area: 23,913m[2] Annual sales: $74.5 million Specialty occupancy cost: N/A Weighted average lease expiry: 3.5 years Major tenants GLA (m[2] ) Lease expiry* target 5,592 Jul 2015 Supa IGA 2,349 Mar 2020

Lease expiry profile %

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13 5 17 24 3 38
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** Includes vacancies held for development

STOCKLAND PROPERTY PORTFOLIO DECEMbER 2013

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~~Stockland Corrimal~~

Located seven kilometres north of Wollongong, Corrimal is a neighbourhood centre anchored by a large full range Woolworths and Dan Murphy’s as well as 42 specialty stores.

Location: Corrimal, NSW

Location: Corrimal, NSW
Acquisition date:	Jun 2003
ownership/title:	100%/Freehold
cost includingadditions:	$42.7 million

Last independent valuation
date:	dec 2012
valuation/($/m2):	$61.1 million($6,269/m²)
capitalisation rate:	8.00%
discount rate:	9.50%
carparkingspaces:	524

Gross lettable area:	9,751m2
Annual sales:	$117.3 million
Specialtyoccupancycost:	14.3%
Weighted average lease expiry:	9.3years

Major tenants	GLA(m2)	Lease expiry
Woolworths	5,974	Jun 2027

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Stockland Riverton

The centre occupies a 6.3 hectare site on a major arterial road in Riverton, 11 kilometres south-east of Perth’s CbD. The centre includes Woolworths, big W, three mini-majors, over 60 specialty stores and five pad sites, including an alfresco dining area and fully equipped parents’ room.

Location: Riverton, WA
Acquisition date:	Aug2006
ownership/title:	50%/Freehold
cost includingadditions:	$53.5 million*

Last independent valuation
date:	June 2013
valuation/($/m2):	$60.5 million($6,107/m²)
capitalisation rate:	7.25%
discount rate:	9.25%
carparkingspaces:	1,203

Gross lettable area:	19,794m2
Annual sales:	$145.5 million
Specialtyoccupancycost:	13.9%
Weighted average lease expiry:	2.5years

Major tenants	GLA(m2)	Lease expiry
BigW	7,294	Sep2016
Woolworths	3,963	Sep2016

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Stockland Piccadilly

Piccadilly is a two level shopping centre located in Sydney’s premier CbD retail precinct, 100 metres from Pitt Street mall and opposite the Sheraton on the Park and Hilton International Hotels. The centre benefits from main entrances off both Pitt and Castlereagh Streets and adjoining thoroughfare to David Jones. The centre is also home to the award-winning Palace Chinese Restaurant. There is an active remix underway at the centre.

Location: Sydney CBD, NSW

Location: Sydney CBD, NSW
Acquisition date:	oct 2000
ownership/title:	100%/Leasehold
cost includingadditions:	$37.7 million

Last independent valuation
date:	dec 2011
valuation/($/m2):	$54.0 million($10,283/m²)
capitalisation rate:	7.25%
discount rate:	9.50%
carparkingspaces:	N/A

Gross lettable area:	5,253m2
Annual sales:	$23.8 million
Specialtyoccupancycost:	23.2%
Weighted average lease expiry:	3.4years

Major tenants	GLA(m2)	Lease expiry
N/A

Lease expiry profile %

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Book value and costs including additions at 50%, otherwise 100% interest

Vacant FY 14 15 16 17 18+

retail cOmmercial POrtfOliO

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~~Stockland Wallsend~~

Wallsend is located ten kilometres north-west of the Newcastle CbD. The centre has a GLA of over 11,500sqm and provides the Wallsend community with Coles, ALDI, 39 specialty stores and an extensive range of services including RTA, Australia Post and a range of major banks.

Location: Wallsend, NSW

Location: Wallsend, NSW
Acquisition date:	Sep2007
ownership/title:	100%/Freehold
cost includingadditions:	$64.9 million

Last independent valuation
date:	Jun 2012
valuation/($/m2):	$52.5 million($4,555/m²)
capitalisation rate:	8.25%
discount rate:	9.50%
carparkingspaces:	585

Gross lettable area:	11,997m2
Annual sales:	$84.4 million
Specialtyoccupancycost:	11.6%
Weighted average lease expiry:	4.6years

Major tenants	GLA(m2)	Lease expiry
coles	4,185	oct 2018
ALdI	1,292	Jun 2020

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~~Stockland Tooronga~~

Tooronga is 12 kilometres south-east of the Melbourne CbD. The centre provides a Coles supermarket, 1st Choice Liquor and 27 specialty stores over two retail levels. The first level is fully enclosed with a fresh food market and premium specialty stores. The second level is an open-air piazza which provides a café/restaurant precinct.

Location: Tooronga, VIC
Acquisition date:	Aug2010
ownership/title:	100%/Freehold
cost includingadditions:	$47.0 million

Last independent valuation
date:	dec 2012
valuation/($/m2):	$50.1 million($5,550/m2)
capitalisation rate:	7.25%
discount rate:	9.25%
carparkingspaces:	488

Gross lettable area:	8,984m2
Annual sales:	$102.6 million
Specialtyoccupancycost:	14.7%
Weighted average lease expiry:	9.1years

Major tenants	GLA(m2)	Lease expiry
coles	4,139	Aug2025

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~~Shellharbour Retail Park~~

Shellharbour Retail Park is a strategically significant property located on a 7.5 hectare site, which is in close proximity to Stockland Shellharbour. This successful retail park development is anchored by Woolworths, Dan Murphy’s and a bunnings Warehouse.

Location: Shellharbour, NSW

Location: Shellharbour, NSW
Acquisition date:	Jun 2003
ownership/title:	100%/Freehold
cost includingadditions:	$37.7 million

Last independent valuation
date:	dec 2013
valuation/($/m2):	$48.0 million($2,167/m²)
capitalisation rate:	8.25%
discount rate:	9.25%
carparkingspaces:	834

Gross lettable area:	22,145m2
Annual sales:	$123.1 million
Specialtyoccupancycost:	N/A
Weighted average lease expiry:	3.2years

Major tenants	GLA(m2)	Lease expiry
Bunnings	7,762	Feb 2018
Woolworths	4,370	Nov 2018
dan Murphy’s	1,500	Sep2015

Lease expiry profile %

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STOCKLAND PROPERTY PORTFOLIO DECEMbER 2013 19

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Stockland Baldivis

baldivis is located in one of Perth’s fastest growing populations, adjacent to Stockland’s residential community Settlers Hills Townside and Affinity Village. The centre includes a full-line Coles, McDonalds and 21 specialty stores. The expansion to 30,000sqm has commenced incorporating a full line Kmart, Woolworths and 60 specialty stores.

Location: Baldivis, WA
Acquisition date:	Aug2006
ownership/title:	100%/Freehold
cost includingadditions:	$32.3 million

Last independent valuation
date:	Jun 2011
valuation/($/m2):	$45.4 million($6,581/m²)
capitalisation rate:	7.50%
discount rate:	9.50%
carparkingspaces:	382

Gross lettable area:	7,159m2
Annual sales:	$103.5 million
Specialtyoccupancycost:	8.5%
Weighted average lease expiry:	7.7years

Major tenants	GLA(m2)	Lease expiry
coles	3,205	May2027

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Stockland Cammeray

Cammeray is a 4,700sqm centre, located in the northern suburbs of Sydney, seven kilometres from the CbD. The centre is anchored by Harris Farm Markets and provides a unique combination of boutique specialty retailers. There is a focus on fresh food including restaurants and iconic Sydney fine food retailers, such as Simmone Logue and Hudson Meats. The centre also includes a childcare centre and 850sqm of commercial suites.

Location: Cammeray, NSW
Acquisition date:	dec 2008
ownership/title:	100%/Stratum
cost includingadditions:	$55.9 million

Last independent valuation
date:	dec 2012
valuation/($/m2):	$32.0 million($6,756/m²)
capitalisation rate:	7.50%
discount rate:	9.50%
carparkingspaces:	80

Gross lettable area:	4,737m2
Annual sales:	$22.9 million
Specialtyoccupancycost:	15.3%
Weighted average lease expiry:	9.2years

Major tenants	GLA(m2)	Lease expiry
Harris Farm Markets	711	oct 2023

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Stockland Highlands

Highlands is a convenient neighbourhood shopping centre located within the Stockland Highlands community in Craigieburn, 27 kilometres north of the Melbourne CbD. It is anchored by Woolworths, the Reject Shop, 17 specialty stores and a medical centre.

Location: Craigieburn, VIC

Location: Craigieburn, VIC
Acquisition date:	Nov 2011
ownership/title:	100%/Freehold
cost includingadditions:	$30.5 million

Last independent valuation
date:	Jun 2012
valuation/($/m2):	$25.2 million($3,530/m²)
capitalisation rate:	8.00%
discount rate:	9.25%
carparkingspaces:	330

Gross lettable area:	7,819m2
Annual sales:	$50.6 million
Specialtyoccupancycost:	13.4%
Weighted average lease expiry:	11.3years

Major tenants	GLA(m2)	Lease expiry
Woolworths	3,800	Nov 2031

Lease expiry profile %

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20 5 4 2 69 2 17 4 77
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5 5 90
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Vacant FY 14 15 16 17 18+

retail cOmmercial POrtfOliO

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Stockland North Shore

A convenient neighbourhood centre located within the Stockland North Shore residential community in Townsville, QLD. The centre opened in March 2011 and includes a new Woolworths and 13 specialty stores. A development application has been approved to expand the centre to 20,000sqm. This expansion will incorporate a DDS, a mini-major and 35 specialty stores.

Location: North Shore, QLD

Location: North Shore, QLD
Acquisition date:	Mar 2011
ownership/title:	100%/Freehold
cost includingadditions:	$18.6 million

Last independent valuation
date:	dec 2013
valuation/($/m2):	$20.5 million($3,560/m²)
capitalisation rate:	7.50%
discount rate:	9.00%
carparkingspaces:	250

Gross lettable area:	5,757m2
Annual sales:	$47.4 million
Specialtyoccupancycost:	7.9%
Weighted average lease expiry:	5.6years

Major tenants	GLA(m2)	Lease expiry
Woolworths	3,609	Mar 2021

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~~Jimboomba Village Shopping Centre~~

Located 40 kilometres south of brisbane in one of the fastest population growth corridors. Stockland own a 50 per cent interest together with management and development rights over the existing centre and associated land parcels. A DA has been approved on the adjacent greenfield land to create a brand new 22,000sqm sub-regional shopping centre. In addition, the existing centre will be refurbished as part of any new development.

Location: Jimboomba, QLD
Acquisition date:	Jan 2007
ownership/title:	50%/Freehold
cost includingadditions:	$25.9 million*

Last independent valuation
date:	dec 2013
valuation/($/m2):	$15.9 million($1,402/m²)
capitalisation rate:	8.75%
discount rate:	10.00%
carparkingspaces:	470

Gross lettable area:	11,336m2**
Annual sales:	$46.4 million
Specialtyoccupancycost:	8.0%
Weighted average lease expiry:	3.7years

Major tenants	GLA(m2)	Lease expiry
Woolworths	3,716	dec 2017

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~~Woolworths Toowong~~

Woolworths Toowong is a freestanding supermarket located opposite Toowong Village Shopping Centre. This property, the adjoining data3 tower and High Street shops are held for their long term development potential. The site will best suit a mixed-use development.

Location: Toowong, QLD

Acquisition date: oct 2000 ownership/title: 100%/Freehold cost including additions: $5.2 million Last independent valuation date: dec 2010 valuation/($/m[2] ): $13.3 million ($5,802/m[2] ) capitalisation rate: N/A discount rate: N/A car parking spaces: 137 Gross lettable area: 2,275m[2] Annual sales: N/A Specialty occupancy cost: N/A Weighted average lease expiry: 0.7 years Major tenants GLA (m[2] ) Lease expiry Woolworths 2,275 Monthly tenancy

Lease expiry profile %

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7 7 6 14 66
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100
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Book value and costs including additions at 50%, otherwise 100% interest.
** GLA includes vacancies held for development.

1 21 1 77

STOCKLAND PROPERTY PORTFOLIO DECEMbER 2013

retail cOmmercial POrtfOliO

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~~Stockland Vincentia Shopping Centre~~

Vincentia Shopping Centre is a single level, open air neighbourhood shopping centre. The property is situated in Vincentia, a developing residential and tourist township on the south coast of NSW. The centre is anchored by a strong performing Coles and 20 specialty stores.

Location: Vincentia, NSW
Acquisition date:	Jan 2007
ownership/title:	100%/Freehold
cost includingadditions:	$15.5 million

Last independent valuation
date:	Jun 2012
valuation/($/m2):	$10.7 million($2,570/m²)
capitalisation rate:	10.00%
discount rate:	10.50%
carparkingspaces:	198

Gross lettable area:	4,163m2
Annual sales:	$53.8 million
Specialtyoccupancycost:	12.0%
Weighted average lease expiry:	1.3years

Major tenants	GLA(m2)	Lease expiry
coles	1,973	Mar 2014

Lease expiry profile %

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4 49 19 13 2 13
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Vacant FY

14 15 16 17 18+

industrial cOmmercial POrtfOliO

Industrial

At 31 December 2013 the portfolio comprises 14 properties encompassing over one million square metres of building area valued at $0.9 billion. Properties are strategically positioned in key locations for logistics, infrastructure and employment.

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11-25 Toll Drive, Altona, VIC

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Lease expiry profile %
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10 7 9 16 13 45
Vacant FY
14 15 16 17 18+
Geographic split %
53 27 11 9
NSW VIC QLD SA
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STOCKLAND PROPERTY PORTFOLIO DECEMbER 2013

industrial cOmmercial POrtfOliO

YENNORA, NSW

yENNoRA dIStRIButIoN cENtRE IS oNE oF tHE LARGESt dIStRIButIoN cENtRES oF ItS kINd IN tHE SoutHERN HEMISpHERE WItH JuSt uNdER 300,000SqM uNdER RooF ANd A FuRtHER 71,000SqM oF dEdIcAtEd coNtAINER HARdStANd. tHE SItE opERAtES AS AN INtERModAL RAIL tERMINAL WItH NEARLy SEvEN kILoMEtRES oF RAIL SIdINGS coNNEctEd to tHE MAIN WEStERN RAIL LINE.

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industrial cOmmercial POrtfOliO

Industrial Portfolio as at 31 December 2013

							Passing
				Book value#	1H14 AIFRS	% of Industrial	warehouse
Page	Property	Location	GLA (m2)*	($m)	NOI ($m)	Portfolio	rent ($/m2)	Net/Gross
26	Yennora Distribution Centre,Yennora	NSW	297,577	350.5	14.6	38.3	87	Net
26	Port Adelaide Distribution Centre,Port Adelaide	SA	167,496	83.6	3.7	9.1	54	Net
26	Hendra Distribution Centre,brisbane	QLD	83,780	83.4	3.0	9.1	99	Net
27	brooklyn Estate,brooklyn	VIC	129,651	81.2	2.1	8.9	65	Net
27	Forrester Distribution Centre,St Mary’s	NSW	60,239	77.0	–	8.4	95	Net
27	Toll business Park,Altona	VIC	52,448	46.3	1.7	5.1	85	Net
28	20-50 and 76-82 Fillo Drive and 10 Stubb Street,Somerton	VIC	71,326	46.2	1.1	5.0	63	Net
28	9-11a Ferndell Street,Granville	NSW	47,485	42.8	2.0	4.7	94	Net
28	1090-1124 Centre Road,Oakleigh	VIC	44,352	32.2	1.2	3.5	77	Net
29	Altona Distribution Centre,Altona	VIC	33,994	27.6	1.2	3.0	73	Net
29	2 Davis Road,Wetherill Park	NSW	16,263	16.8	-0.2	1.8	–	Net
29	Export Park,9-13 Viola Place,brisbane Airport	QLD	8,468	12.0	0.6	1.3	202	Net
30	M1 Yatala Enterprise Park,Yatala	QLD	N/A	8.6	–	0.9	N/A	N/A
30	40 Scanlon Drive,Epping	VIC	9,371	8.1	0.3	0.9	78	Net
			1,022,450	916.3	31.3	100.0

Excludes hardstand
Represents the full carrying value of the investment property

STOCKLAND PROPERTY PORTFOLIO DECEMbER 2013

industrial cOmmercial POrtfOliO

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~~Yennora Distribution Centre~~

Yennora Distribution Centre is one of the largest distribution centres of its kind in the southern hemisphere with just under 300,000sqm under roof and a further 71,000sqm of dedicated container hardstand. The site operates as an ‘intermodal’ rail terminal with nearly seven kilometres of rail sidings connected to the main western rail line. New hardstand is being redeveloped.

Location: Yennora, NSW

Location: Yennora, NSW
Acquisition date:	Jul 2000/Nov 2010
ownership/title:	100%/Freehold
cost includingadditions:	$257.6 million

Last independent valuation
date:	dec 2013
valuation/($/m2):	$350.5 million($1,178/m2)
capitalisation rate:	7.75%
discount rate:	9.00%

Lettable area:	297,577m2
Site area:	70ha
Hardstand:	71,166m2
Weighted average lease expiry:	4.1years

Major tenants	GLA(m2)
Australian Wool Handlers	58,801
qube Logistics	54,123
o-I(AcI)	34,707
toll Holdings	20,186

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Port Adelaide Distribution Centre
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Port Adelaide Distribution Centre is a large industrial estate comprising over 160,000sqm with 12 large warehouses, some hardstand area and surplus development land. It is well located within close proximity to the port and main arterial routes. Port Adelaide has recently completed a refurbishment to buildings A, b and C across 37,000sqm leased to ACI.

Location: Port Adelaide, SA
Acquisition date:	Jul 2000
ownership/title:	100%/Freehold
cost includingadditions:	$52.2 million

Last independent valuation
date:	Jun 2013
valuation/($/m2):	$81.9 million($489/m2)
capitalisation rate:	10.00%
discount rate:	11.00%

Lettable area:	167,496m2
Site area:	32ha
Hardstand:	N/A
Weighted average lease expiry:	3.1years

Major tenants	GLA(m2)
o-I(AcI)	89,967
Impact Fertiliser	20,728
Wengfu Australia	13,717
Spendless Shoes	12,383

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Hendra Distribution Centre

The complex comprises 17 warehouses, including a large, modern distribution centre along with offices, amenities and ancillary improvements. The property is well situated in brisbane’s Trade Coast precinct, enjoying excellent road, port and air accessibility. Surplus land adjacent is being prepared for development.

Location: Brisbane, QLD

Location: Brisbane, QLD
Acquisition date:	Jul 2000
ownership/title:	100%/Freehold
cost includingadditions:	$49.5 million

Last independent valuation
date:	dec 2012
valuation/($/m2):	$81.5 million($973/m2)
capitalisation rate:	9.25%
discount rate:	10.00%

Lettable area:	83,780m2
Site area:	17ha
Hardstand:	43,374m2
Weighted average lease expiry:	4.3years

Major tenants	GLA(m2)
kmart distribution	28,500
Super Retail Group	7,902
Lion Nathan	7,724
Global Express(Fastway)	6,889

Lease expiry profile %

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10 19 5 5 16 45 4 4 49 43
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12 5 17 8 9 49
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Vacant FY 14 15 16 17 18+

industrial cOmmercial POrtfOliO

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Brooklyn Estate

brooklyn Estate is a well established 22 hectare distribution centre, located ten kilometres west of the Melbourne CbD and adjacent to the four-way interchange of West Gate Freeway and the Princes Highway. The estate comprises eight separate warehouses, which were completed in the 1980s and early 1990s. Planning is underway for partial redevelopment.

Location: Brooklyn, VIC
Acquisition date:	Jun 2003
ownership/title:	100%/Freehold
cost includingadditions:	$64.7 million

Last independent valuation
date:	dec 2012
valuation/($/m2):	$79.7 million($615/m2)
capitalisation rate:	9.25%
discount rate:	9.75%

Lettable area:	129,651m2
Site area:	22ha
Hardstand:	10,780m2
Weighted average lease expiry:	3.1years

Major tenants	GLA(m2)
unitised Building	37,309
ceva(tNt)	23,314
Isuzu	11,814
paper Australia	10,969

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Forrester Distribution Centre

Acquired in December 2013, 40-88 Forrester Road is situated on a 12 hectare site and incorporates three warehouses totalling 60,239sqm. The Forrester Distribution Centre is a modern and flexible facility featuring drive-around access to all three warehouses. Conveniently located next to rail and within close proximity to the Great Western Highway and the M4 and M7 motorways, the premises are fully occupied by ACI, a wholly-owned subsidiary of Owens-Illinois.

Location: St Mary’s, NSW
Acquisition date:	dec 2013
ownership/title:	100%/Freehold
cost includingadditions:	$77.0 million

Last independent valuation
date:	N/A
valuation/($/m2):	N/A
capitalisation rate:	N/A
discount rate:	N/A

Lettable area:	60,239m2
Site area:	12ha
Hardstand:	N/A
Weighted average lease expiry:	5.3years

Major tenants	GLA(m2)
o-I(AcI)	60,239

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Toll Business Park

Toll business Park comprises three modern warehouses/distribution facilities. 11-25 Toll Drive consists of state of the art automated picking technology and is leased to Toll (IPEC) until 2015. 32-54 Toll Drive is a purpose built warehouse/distribution facility with a large office component incorporating a large mezzanine structure. 56-60 Toll Drive features a temperature controlled warehouse in addition to five recessed sunken docks and another nine loading bays. An additional freestanding single level office is also located on the site.

Location: Altona, VIC

Location: Altona, VIC
Acquisition date:	Sep2006
ownership/title:	100%/Freehold
cost includingadditions:	$62.4 million

Last independent valuation
date:	Jun 2013*
valuation/($/m2):	$46.7 million($890/m2)
capitalisation rate:	8.25%
discount rate:	9.50%

Lettable area:	52,448m2
Site area:	13ha
Hardstand:	N/A
Weighted average lease expiry:	3.0years

Major tenants	GLA(m2)
toll Holdings Limited	52,448

Lease expiry profile %

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17 9 24 24 26
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100
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31 36 33

56-60 toll drive only externally valued at Jun-13

STOCKLAND PROPERTY PORTFOLIO DECEMbER 2013

industrial cOmmercial POrtfOliO

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20-50 and 76-82 Fillo Drive and 10 Stubb Street

The property comprises three warehouse facilities with adjacent boundaries. 20-50 Fillo Drive comprises a 31,000sqm distribution facility, with clearance of eight metres and multiple loading points. 10 Stubb Street is located on the same title and comprises a distribution facility, consisting of a two-level office attached to a medium-bay warehouse with loading to three elevations. 76-82 Fillo Drive is a modern industrial building with extensive loading docks, functional awning areas and future expansion potential.

Location: Somerton, VIC

Location: Somerton, VIC
Acquisition date:	Sep2006/Jul 2006
ownership/title:	100%/Freehold
cost includingadditions:	$64.0 million

Last independent valuation
date:	Jun 2013
valuation/($/m2):	$46.0 million($645/m2)
capitalisation rate:	9.00-9.50%
discount rate:	9.75%

Lettable area:	71,326m2
Site area:	16ha
Hardstand:	N/A
Weighted average lease expiry:	2.5years

Major tenants	GLA(m2)
toll Holdings Limited	31,185
yakka ptyLtd	18,822

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9-11a Ferndell Street

Situated on a 5.4 hectare site, 9-11 Ferndell Street comprises three modern office/warehouse buildings. 11a Ferndell Street is a factory/ warehouse building comprising three warehouse bays and ancillary office. both properties are located in the established industrial suburb of Granville, 20 kilometres west of the Sydney CbD.

Location: Granville, NSW
Acquisition date:	Apr 2003/Jun 2003
ownership/title:	100%/Freehold
cost includingadditions:	$53.9 million

Last independent valuation
date:	dec 2012
valuation/($/m2):	$42.2 million($889/m2)
capitalisation rate:	9.25-10.00%
discount rate:	10.25-10.75%

Lettable area:	47,485m2
Site area:	9ha
Hardstand:	N/A
Weighted average lease expiry:	4.4years

Major tenants	GLA(m2)
visyIndustrial packaging	17,546
Williams Enterprise Group	13,574
Frucor Beverage’s(Australia)	5,909
cEvA Logistics	4,612

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1090-1124 Centre Road

The property is well located in Melbourne’s south-eastern suburbs, 17 kilometres from Melbourne’s CbD. The 8.1 hectare site is situated on a prominent main road location and currently comprises five warehouses and a single office building.

Location: Oakleigh, VIC

Location: Oakleigh, VIC
Acquisition date:	Feb 2007
ownership/title:	100%/Freehold
cost includingadditions:	$52.0 million

Last independent valuation
date:	dec 2012
valuation/($/m2):	$31.8 million($717/m2)
capitalisation rate:	9.25%
discount rate:	10.00%

Lettable area:	44,352m2
Site area:	8ha
Hardstand:	N/A
Weighted average lease expiry:	3.5years

Major tenants	GLA(m2)
Amcor	18,348
Steinhoff Asia pacifc	7,603
Averydennison	7,470

Lease expiry profile %

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26 22 12 66
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19 21 60
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30 44

Vacant FY 14 15 16 17 18+

industrial cOmmercial POrtfOliO

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~~Altona Distribution Centre~~

The complex is located in the western industrial precinct of Melbourne adjacent to the Western Ring Road, and comprises nine separate buildings. The estate is currently 100% leased with low site coverage and offers future redevelopment potential.

Location: Altona, VIC
Acquisition date:	Jul 2000
ownership/title:	100%/Freehold
cost includingadditions:	$28.2 million

Last independent valuation
date:	Jun 2013
valuation/($/m2):	$27.7 million($815/m2)
capitalisation rate:	9.25%
discount rate:	9.75%

Lettable area:	33,994m2
Site area:	15ha
Hardstand:	65,417m2
Weighted average lease expiry:	3.0years

Major tenants	GLA(m2)
ceva(tNt)	13,968
Autonexus	6,165
petrogas	4,877

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~~2 Davis Road~~

This property is a modern office/warehouse building, which has three high-clearance warehouse bays and has completed a major refurbishment. It has further development potential to the rear with only 38 percent existing site coverage.

Location: Wetherill Park, NSW
Acquisition date:	Apr 2003
ownership/title:	100%/Freehold
cost includingadditions:	$17.5 million

Last independent valuation
date:	dec 2013
valuation/($/m2):	$16.8 million($999/m2)
capitalisation rate:	8.75%
discount rate:	10.00%

Lettable area:	16,263m2
Site area:	4ha
Hardstand:	N/A
Weighted average lease expiry:	–

Major tenants	GLA(m2)

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Export Park

9-13 Viola Place is a high-tech office and warehouse facility located in the recently developed industrial estate of ‘Export Park’ at brisbane Airport. The property is fully leased to DHL and Ansaldo STS Australia expiring in 2017. This facility benefits from excellent access to the Gateway Motorway and port of brisbane.

Location: 9-13 Viola Place, Brisbane	Airport, QLD
Acquisition date:	Nov 2007
ownership/title:	100%/Leasehold(Expiry2047)
cost includingadditions:	$16.1 million

Last independent valuation
date:	Jun 2013
valuation/($/m2):	$12.0 million($1,417/m2)
capitalisation rate:	9.75%
discount rate:	9.75%

Lettable area:	8,468m2
Site area:	N/A
Hardstand:	N/A
Weighted average lease expiry:	3.6years

Major tenants	GLA(m2)
dHL Global Forwarding	4,322
Ansaldo StS Australia	4,146

Lease expiry profile %

11 16 5

30 38

100

STOCKLAND PROPERTY PORTFOLIO DECEMbER 2013 29

industrial cOmmercial POrtfOliO

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~~M1 Yatala Enterprise Park~~

The property is located in the industrial suburb of Yatala, 33 kilometres south of the brisbane CbD. The property boasts direct access to the Pacific (M1) Motorway, with access via Darlington Drive. This development site has the potential to deliver in the order of 45,000sqm of prime warehousing and distribution solutions, pre-lease design and a construction information memorandum is currently in the market.

Location: Yatala, QLD
Acquisition date:	Nov 2006
ownership/title:	100%/Freehold
cost includingadditions:	$27.0 million

Last independent valuation
date:	Jun 2013
valuation/($/m2):	$8.5 million
capitalisation rate:	N/A
discount rate:	N/A

Lettable area:	N/A
Site area:	9ha
Hardstand:	N/A
Weighted average lease expiry:	N/A

Major tenants	GLA(m2)

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40 Scanlon Drive

40 Scanlon Drive is a warehouse facility of 9,371sqm. The building offers high quality warehouse and office accommodation and is located in Northpoint Enterprise Park 20 kilometres north of the Melbourne CbD. Access is available to the Craigieburn bypass via Cooper Street interchange and is currently fully leased.

Location: Epping, VIC
Acquisition date:	Sep2007
ownership/title:	100%/Freehold
cost includingadditions:	$8.8 million

Last independent valuation
date:	Jun 2013
valuation/($/m2):	$8.2 million($875/m2)
capitalisation rate:	8.50%
discount rate:	9.50%

Lettable area:	9,371m2
Site area:	2ha
Hardstand:	N/A
Weighted average lease expiry:	4.8years

Major tenants	GLA(m2)
Mission Australia	5,306
Grace Australia	4,065

Lease expiry profile %

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57 43
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Vacant FY 30 14 15 16 17 18+

Office cOmmercial POrtfOliO

Office At 31 December 2013 the portfolio comprises 15 properties valued at $1.5 billion. Our focus is on maximising investment returns across the portfolio.

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Optus Centre, Macquarie Park, NSW

Lease expiry profile %*

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9 1 12 7 10 61
Represents full portfolio excluding spaces currently under refurbishment
Vacant FY
14 15 16 17 18+
Geographic split %
66 21 10 3
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NSWQLD WA ACT
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STOCKLAND PROPERTY PORTFOLIO DECEMbER 2013

Office cOmmercial POrtfOliO

OPTuS CENTRE, SYDNEY, NSW

SItuAtEd oN A 7.5 HEctARE SItE, optuS cENtRE IS IN cLoSE pRoxIMIty to kEy AMENItIES ANd coNvENIENtLy LocAtEd 12 kILoMEtRES NoRtHWESt oF tHE SydNEy cBd IN MAcquARIE pARk.

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Office cOmmercial POrtfOliO

Offce Portfolio as at 31 December 2013

Page	Property	Location	NLA (m2)	Book value# ($m)	1H14 AIFRS NOI ($m)	% of Offce Portfolio	Passing rent ($/m2)	Net/Gross
35	PiccadillyComplex,133-145 Castlereagh Street,Sydney^	NSW	39,343	316.4	9.1	20.8	616*	Net
35	Waterfront Place,Eagle Street,brisbane**	QLD	58,891	263.0	8.5	17.3	788	Gross
35	Triniti business Campus,North Ryde	NSW	28,158	169.9	5.2	11.2	365	Net
36	Durack Centre,263 Adelaide Terrace and 2 Victoria Ave,Perth	WA	25,189	152.4	7.4	10.0	656	Net
36	Optus Centre,Macquarie Park^^	NSW	84,194	117.2	5.2	7.7	277	Net
36	135 KingStreet,Sydney**^	NSW	27,198	101.8	1.9	6.7	762	Gross
37	601 Pacifc Highway,St Leonards	NSW	12,677	72.0	3.3	4.8	503	Net
37	60-66 Waterloo Road,Macquarie Park	NSW	18,314	68.8	2.6	4.5	325	Net
37	77 Pacifc Highway,North Sydney	NSW	9,362	54.7	1.5	3.6	520	Net
38	40 Cameron Avenue,belconnen	ACT	15,338	43.4	1.0	2.9	375	Gross
38	Garden Square,Mt Gravatt	QLD	12,653	38.5	1.6	2.5	395	Gross
38	16 Giffnock Avenue,Macquarie Park	NSW	11,723	36.8	1.2	2.4	246	Net
39	Macquarie TechnologyCentre,Macquarie Park	NSW	15,204	32.8	1.4	2.2	251	Net
39	80-88 Jephson Street,23 and 27-29 High Street,Toowong	QLD	7,864	25.5	1.0	1.7	399	Gross
39	110 Walker Street,North Sydney	NSW	4,382	25.5	0.8	1.7	464	Net
			370,490	1,518.7	51.7	100.0

Represents the full carrying value of the investment property.
Represents passing rent for tower only. Net court passing rent is $434/sqm
** Book value represents Stockland’s 50% ownership interest.
^ Book value and NLA, office component only. Retail component included in Retail portfolio.
^^ Book value represents Stockland’s 31% ownership interest

STOCKLAND PROPERTY PORTFOLIO DECEMbER 2013

Office cOmmercial POrtfOliO

601 PACIFIC HIGHWAY, ST LEONARDS, NSW

coMpLEtEd IN 1988, 601 pAcIFIc HIGHWAy IS A HIGH pRoFILE A-GRAdE oFFIcE toWER LocAtEd 200 MEtRES EASt oF St LEoNARdS RAILWAy StAtIoN. tHE pRopERty coMpRISES 13 oFFIcE LEvELS, GRouNd FLooR SHoWRooM, tWo REtAIL tENANcIES ANd BASEMENt cAR pARkING. tHE BuILdING REcENtLy coMpLEtEd A FoyER ANd BASEMENt AMENItIES upGRAdE ANd IS cuRRENtLy uNdERGoING AN upGRAdE to LIFtS. tHE uppER oFFIcE LEvELS ENJoy SpEctAcuLAR cIty ANd dIStRIct vIEWS. tHE oFFIcE toWER IS occupIEd By IBM AS ItS AuStRALIAN HEAd oFFIcE.

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Office cOmmercial POrtfOliO

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Piccadilly Complex

The Piccadilly Complex comprises the Tower, an A-grade 32 storey office building, which includes Stockland’s head office and Piccadilly Court, a b-grade 14 storey office building. In addition there is a retail mall situated over two levels constructed between the two office buildings. Average floor plates are 1,200sqm and basement parking accommodates 264 vehicles. Piccadilly Court features a recently refurbished ground floor lobby. both assets are currently undergoing lift modernisation work.

Location: 133-145 Castlereagh Street, Sydney, NSW	Location: 133-145 Castlereagh Street, Sydney, NSW
Acquisition date:	oct 2000
ownership/title:	100%/Leasehold(Expiry2091)
cost includingadditions:	$233.4 million

Last independent valuation
date:	dec 2011
valuation/($/m2):	$307.0 million($7,803/m2)
capitalisation rate:	7.25-8.25%
discount rate:	9.00-9.50%
carparkingspaces:	264

Net lettable area:	39,343m2
Weighted average lease expiry:	6.2years
NABERS energyrating:	4.5/4.0*
Green Star rating:	6 Star**(Stockland offce only)

Major tenants	NLA(m2)
Stockland	10,151
unitingchurch	4,939
GHd Services	4,357
IcAc	2,749

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Waterfront Place
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Waterfront Place is located on Eagle Street, overlooking the brisbane River. From a prime commercial location, it provides panoramic river views and brisbane vistas from all commercial levels. The building offers 36 levels of premium grade office space over floor plates averaging 1,800sqm. The building recently completed an extensive foyer and lift upgrade.

Location: Eagle Street, Brisbane,	QLD
Acquisition date:	Feb 2004
ownership/title:	50%/Freehold/Leasehold
cost includingadditions:	$169.8 million

Last independent valuation
date:	Jun 2013
valuation/($/m2):	$264.0 million($8,966/m2*)
capitalisation rate:	7.25%
discount rate:	9.00%
carparkingspaces:	494

Net lettable area:	58,891m2*
Weighted average lease expiry:	5.5years
NABERS energyrating:	4.5
Green Star rating:	N/A

Major tenants	NLA(m2)*
Minter Ellison	7,860
Ernst & young	6,187
Stanburgh	5,262
dLA phillips Fox	4,147

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~~Triniti Business Campus~~

Located within Riverside Corporate Park, Triniti business Campus is in close proximity to the North Ryde railway station and provides sweeping views of the Sydney CbD and districts. The campus houses blue chip companies including Goodman Fielder, CSR and Downer EDI Engineering. The adjacent site has an approved DA for future development. Triniti won the 2010 PCA Innovation and Excellence Award for business/Industrial Parks.

Location: North Ryde, NSW

Location: North Ryde, NSW
Acquisition date:	Jun 2001
ownership/title:	100%/Freehold
cost includingadditions:	$151.1 million

Last independent valuation
date:	Jun 2013
valuation/($/m2):	$170.2 million($6,044/m2)
capitalisation rate:	7.75%
discount rate:	9.00%
carparkingspaces:	1,043

Net lettable area:	28,158m2
Weighted average lease expiry:	3.8years
NABERS energyrating:	5.0
Green Star rating:	5 Star*

Major tenants	NLA(m2)
Goodman Fielder	8,521
downer EdI Engineering	7,030
cSR	5,752
Baulderstone Hornibrook	4,665

Lease expiry profile %

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7 13 3 2 75
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piccadilly tower and piccadilly court respectively
** Green Star office Interiors v.1 – www.gbca.org.au

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9 16 4 13 58
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100% interest

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32 44 24
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Green Star office As Built v.2 – www.gbca.org.au

STOCKLAND PROPERTY PORTFOLIO DECEMbER 2013

Office cOmmercial POrtfOliO

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Durack Centre

The Durack Centre comprises a 13-storey building with large 1,300sqm floor plates, two basement levels and parking for 157 cars. The building enjoys extensive views across the Swan River. A second building at 2 Victoria Avenue was completed in 2009 and is anchored by Shell. The A-grade, four level office building was awarded WA’s first 6-Star Green Star rating by the Green building Council of Australia, along with PCA’s Property of the Year Award for WA.

Location: 263 Adelaide Terrace and 2 Victoria Ave, Perth, WA

Acquisition date:	oct 2006
ownership/title:	100%/Leasehold
cost includingadditions:	$107.5 million

Last independent valuation
date:	Jun 2013
valuation/($/m2):	$152.5 million($6,054/m2)
capitalisation rate:	9.00%
discount rate:	9.00-9.50%
carparkingspaces:	157

Net lettable area:	25,189m2
Weighted average lease expiry:	5.1years
NABERS energyrating:	4.5/5.0*
Green Star rating:	6 Star**

Major tenants	NLA(m2)
Sinclair knight Merz	10,607
Shell	6,987
Australian Bureau of Statistics	3,044

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~~Optus Centre~~

Situated on a 7.5 hectare site, Optus Centre is in close proximity to key amenities and conveniently located 12 kilometres north-west of the Sydney CbD in Macquarie Park. The integrated campus comprises six low-rise A Grade office buildings with an NLA of 84,194sqm and 2,100 car parking spaces. Optus Centre is Australia’s largest single tenant office campus.

Location: Macquarie Park, NSW

Location: Macquarie Park, NSW
Acquisition date:	Jul 2000
ownership/title:	31%*/Freehold
cost includingadditions:	$105.9 million

Last independent valuation
date:	Jun 2013
valuation/($/m2):	$116.3 million($4,456/m2**)
capitalisation rate:	7.50%
discount rate:	9.00%
carparkingspaces:	2,100

Net lettable area:	84,194m2**
Weighted average lease expiry:	8.5years
NABERS energyrating:	4.0
Green Star rating:	N/A

Major tenants	NLA(m2)**
optus	84,194

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135 King Street

Completed in 1990, 135 King Street comprises a prominent 24 level, A-grade office tower and Glasshouse Shopping Centre, a three-level retail centre in the heart of Pitt Street Mall that includes 22 specialty retail tenancies. The building recently completed a mechanical plant upgrade and a rolling refurbishment over the office floors is ongoing. brookfield Australia has recently extended its lease over multiple floors until 2018.

Location: Sydney, NSW

Location: Sydney, NSW
Acquisition date:	Jun 2003
ownership/title:	50%/Freehold
cost includingadditions:	$87.6 million

Last independent valuation
date:	dec 2012
valuation/($/m2):	$96.0 million($7,059/m2*)
capitalisation rate:	7.30%
discount rate:	9.00%
carparkingspaces:	76

Net lettable area:	27,198m2**
Weighted average lease expiry:	6.1years
NABERS energyrating:	3.5
Green Star rating:	N/A

Major tenants	NLA(m2)**
Brookfeld Australia	4,806
Russell Investments	3,696
Moore Stephens	2,443
M&d Services	2,268

Lease expiry profile %

14 3 3 89

263 Adelaide terrace and 2 victoria Ave respectively
Green Star office design v.2 (2 victoria Avenue only) – www.gbca.org.au

100

Sdot2 has 49% ownership
** 100% interest

27 2 12 68

Excludes Retail
** 100% interest

Vacant FY

14 15 16 17 18+

Office cOmmercial POrtfOliO

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~~601 Pacifc Highway~~

Completed in 1988, 601 Pacific Highway is a high profile A-grade office tower located 200 metres east of St Leonards railway station. The property comprises 13 office levels, ground floor showroom, two retail tenancies and basement car parking. The building recently completed a foyer and basement amenities upgrade together with an upgrade to lifts. The upper office levels enjoy spectacular city and district views. The office tower is occupied by IbM’s Australian head office.

Location: St Leonards, NSW
Acquisition date:	Jun 2003
ownership/title:	100%/Freehold
cost includingadditions:	$71.6 million

Last independent valuation
date:	dec 2013
valuation/($/m2):	$72.0 million($5,680/m2)
capitalisation rate:	8.50%
discount rate:	9.00%
carparkingspaces:	155

Net lettable area:	12,677m2
Weighted average lease expiry:	4.9years
NABERS energyrating:	5.0
Green Star rating:	N/A

Major tenants	NLA(m2)
IBM	7,283

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60-66 Waterloo Road

60-66 Waterloo Road is located in Sydney’s Macquarie Park, 12 kilometres north-west of Sydney CbD. 60 Waterloo Road comprises a modern office, laboratory and warehouse building leased to Laverty Health which has recently renewed its lease for a further 10 years. 66 Waterloo Road offers A-grade office accommodation with average floor plates of 1,700sqm. Citrix has recently committed to over 5,000sqm on a new 10 year lease.

Location: Macquarie Park, NSW
Acquisition date:	oct 2000
ownership/title:	100%/Freehold
cost includingadditions:	$53.6 million

Last independent valuation
date:	dec 2013
valuation/($/m2):	$68.8 million($3,757/m2)
capitalisation rate:	8.00%
discount rate:	9.25-9.50%
carparkingspaces:	498

Net lettable area:	18,314m2
Weighted average lease expiry:	8.4years
NABERS energyrating:	5.0*
Green Star rating:	N/A

Major tenants	NLA(m2)
LavertyHealth	8,167
citrix	5,270
Jansen cilag	4,857

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77 Pacifc Highway

Situated in a high profile location and in close proximity to North Sydney railway station, 77 Pacific Highway offers extensive harbour and city views. The property comprises of 15 levels of commercial tenants, ground floor café and two levels of basement parking. The property was redeveloped in 2002 to A-grade standard, including expansion of the NLA by 1,900sqm, new floor to ceiling glass façade and a double-height entry foyer.

Location: North Sydney, NSW

Location: North Sydney, NSW
Acquisition date:	Jan 2000
ownership/title:	100%/Freehold
cost includingadditions:	$58.3 million

Last independent valuation
date:	Jun 2013
valuation/($/m2):	$55.0 million($5,875/m2)
capitalisation rate:	8.50%
discount rate:	9.75%
carparkingspaces:	41

Net lettable area:	9,362m2
Weighted average lease expiry:	3.9years
NABERS energyrating:	4.5
Green Star rating:	N/A

Major tenants	NLA(m2)
Infosys technologies	1,321
Health Administration corporation	1,266
Saville & Holdsworth	900
talent 2 Works	728

Lease expiry profile %**

4 96

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27 73
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11 7 11 4 27 40
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** Represents property excluding spaces currently under refurbishment

66 Waterloo Road only

STOCKLAND PROPERTY PORTFOLIO DECEMbER 2013

Office cOmmercial POrtfOliO

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40 Cameron Avenue

40 Cameron Avenue occupies a prominent corner site in the southeastern precinct of the belconnen Town Centre. Constructed in 1993, 40 Cameron Avenue comprises four upper levels of office accommodation, basement car parking for 47 cars and on-grade parking for 176 cars. The building has floor plates in excess of 3,500sqm and has recently undergone significant refurbishment. It is expected to achieve a NAbERS rating of 4.5 stars.

Location: Belconnen, ACT
Acquisition date:	Feb 2007/Nov 2009
ownership/title:	100%/Leasehold(Expiry2096)
cost includingadditions:	$76.5 million

Last independent valuation
date:	Jun 2013
valuation/($/m2):	$44.1 million($2,875/m2)
capitalisation rate:	10.25%
discount rate:	10.50%
carparkingspaces:	223

Net lettable area:	15,338m2
Weighted average lease expiry:	4.2years
NABERS energyrating:	N/A
Green Star rating:	N/A

Major tenants	NLA(m2)
Hewlett packard	7,695

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Garden Square

Garden Square occupies a high profile location in the regional business district of Upper Mt Gravatt, 11 kilometres south of brisbane’s CbD. Garden Square is a commercial office park comprising two buildings offering a total of seven levels of office accommodation and on-site parking for over 400 vehicles.

Location: Mt Gravatt, QLD
Acquisition date:	Feb 2007
ownership/title:	100%/Freehold
cost includingadditions:	$65.0 million

Last independent valuation
date:	dec 2012
valuation/($/m2):	$37.5 million($2,964/m2)
capitalisation rate:	9.38%
discount rate:	9.50%
carparkingspaces:	407

Net lettable area:	12,653m2
Weighted average lease expiry:	2.8years
NABERS energyrating:	4.5
Green Star rating:	N/A

Major tenants	NLA(m2)
department public Works	8,684

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16 Giffnock Avenue

Located in Macquarie Park, 12 kilometres north-west of Sydney, 16 Giffnock Avenue is positioned adjacent to the Optus Centre. The building comprises a modern commercial office with an ancillary warehouse and parking for 270 vehicles.

Location: Macquarie Park, NSW

Location: Macquarie Park, NSW
Acquisition date:	Jul 2000
ownership/title:	100%/Freehold
cost includingadditions:	$30.4 million

Last independent valuation
date:	dec 2013
valuation/($/m2):	$36.8 million($3,139/m2)
capitalisation rate:	8.75%
discount rate:	9.50%
carparkingspaces:	270

Net lettable area:	11,723m2
Weighted average lease expiry:	4.6years
NABERS energyrating:	2.5
Green Star rating:	N/A

Major tenants	NLA(m2)
Alstom power	2,970
Bausch & Lomb	2,318
Apotex	1,951
Endress + Hauser Australia	1,690

Lease expiry profile %

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13 37 2 48
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18 1 26
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55
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49 51

Vacant FY 14 15 16 17 18+

Office cOmmercial POrtfOliO

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~~Macquarie Technology Centre~~

Macquarie Technology Centre is located 12 kilometres north-west of Sydney’s CbD in Macquarie Park. Erected on the site are two buildings, 33-39 Talavera Road and 11-17 Khartoum Road, with on-site parking for over 400 vehicles. 33-39 Talavera Road is fully occupied by Sony Australia. 11-17 Khartoum Road is leased to a range of smaller tenants, and comprises office and warehouse accommodation. Macquarie Technology Centre is currently 95% occupied.

Location: Macquarie Park, NSW
Acquisition date:	oct 2000
ownership/title:	100%/Freehold
cost includingadditions:	$40.8 million

Last independent valuation
date:	dec 2013
valuation/($/m2):	$32.8 million($2,157/m2)
capitalisation rate:	8.75-9.25%
discount rate:	10.00%
carparkingspaces:	431

Net lettable area:	15,204m2
Weighted average lease expiry:	1.6years
NABERS energyrating:	4.0*
Green Star rating:	N/A

Major tenants	NLA(m2)
Sony (Australia)	10,643
Noel Arnold & Associates	1,582

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80-88 Jephson Street, 23 and 27-29 High Street
----- End of picture text -----

80-88 Jephson, 23 and 27-29 High Street are located in the heart of Toowong’s commercial district. 80-88 Jephson Street is a five-level office building that adjoins Stockland’s Woolworths Toowong. 23 and 27-29 High Street offer both retail and office accommodation over two levels and are held as part of the Toowong development site, which offers medium term mixed-use development potential.

Location: Toowong, QLD
Acquisition date:	Jun 2006/Jul 2006/Jan 2008
ownership/title:	100%/Freehold
cost includingadditions:	$39.7 million

Last independent valuation
date:	Jun 2013
valuation/($/m2):	$25.5 million($3,243/m2)
capitalisation rate:	8.25-9.00%
discount rate:	9.75%
carparkingspaces:	137

Net lettable area:	7,864m2
Weighted average lease expiry:	1.6years
NABERS energyrating:	2.5*
Green Star rating:	N/A

Major tenants	NLA(m2)
trans cityJv	1,896
Sonic Healthcare	1,468

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110 Walker Street

Comprising of over 4,000sqm of office accommodation, 110 Walker Street is a seven level property located within the North Sydney CbD. It includes several terrace areas, ground floor retail and 80 basement car parking bays.

Location: North Sydney, NSW

Location: North Sydney, NSW
Acquisition date:	oct 2000
ownership/title:	100%/Freehold
cost includingadditions:	$26.5 million

Last independent valuation
date:	dec 2013
valuation/($/m2):	$25.5 million($5,819/m2)
capitalisation rate:	8.75%
discount rate:	9.50%
carparkingspaces:	80

Net lettable area:	4,382m2
Weighted average lease expiry:	3.6years
NABERS energyrating:	2.5
Green Star rating:	N/A

Major tenants	NLA(m2)
Rice daubney	1,454
Super Iq	1,025
Accor Advantage plus	664

Lease expiry profile %

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5 72
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15 8
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4 10 53
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19 8 6
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7 4 33
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80-88 Jephson Street only
11-17 khartoum Road only

STOCKLAND PROPERTY PORTFOLIO DECEMbER 2013

residential cOmmunities residential POrtfOliO

WILLOWDALE, NSW oNcE coMpLEtE WILLoWdALE WILL INcLudE ovER 3,100 NEW HoMES, WItH tHE cApAcIty FoR REtAIL ANd REtIREMENt oppoRtuNItIES. tHE SItE IS LocAtEd 1.5 kILoMEtRES FRoM tHE FutuRE LEppINGtoN RAILWAy StAtIoN ANd AppRoxIMAtELy 50 kILoMEtRES FRoM SydNEy cBd.

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residential cOmmunities residential POrtfOliO

Residential Communities

Stockland is the leading residential developer in Australia and is focused on delivering a range of masterplanned communities in growth areas across the country. Stockland has approximately 83,800 lots remaining in its portfolio with a total end value of approximately $20.8 billion*.

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Highlands, VIC

Geographic split %*

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14 27 46 13
By current lots
NSW VIC QLD WA
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Excluding value on projects identified for disposal.

STOCKLAND PROPERTY PORTFOLIO DECEMbER 2013

residential cOmmunities residential POrtfOliO

BROOKS REACH, NSW

A pIctuRESquE, FAMILy-FRIENdLy RESIdENtIAL coMMuNIty SEt oN ovER 70 HEctARES At tHE BASE oF tHE ILLAWARRA RANGE.

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residential cOmmunities residential POrtfOliO

NSW – released to market

Property/		Total project
Acquisition date	Location	value ($m)*	Total lots	% Sold^	Price range ($)	Project description
Willowdale**	Leppington	986	3,114	0	180,000 – 495,000	Once complete, a community of over 3,100 new homes, with the capacity for retail
2011						and retirement opportunities. The site is located 1.5 kilometres from the future
						Leppington railwaystation and approximately50 kilometres from the SydneyCbD.
McKeachie’s Run	Maitland	198	1,065	64	158,000 – 360,000	Located 40 minutes west of Newcastle in Maitland, McKeachie’s Run appeals
2003, 2011						to local families due to the strong community feel and the amenities such as the
						sportingfelds and childcare centre.
Waterside	Penrith	168	610	91	235,000 – 339,000	Waterside is located close to Penrith and offers a community facility comprising of a
2003						swimming pool,community pavilion andplayground.
Sandon Point (including	bulli/Thirroul	152	299	94	400,000 – 600,000	Located just over an hour from Sydney, situated in a unique beachside position
McCauley’s beach)						on McCauley’s beach. Very close to existing local amenities such as the local train
1998						station and village of Thirroul. Theproject attracts local upgraders.
Glenmore Ridge	Penrith	136	525	98	220,000 – 270,000	Glenmore Ridge is located four kilometres south of Penrith. Popular with local families
2004						with the mainpark includinga large children’splayground andpicnic area.
brooks Reach	South Coast	117	593	55	160,000 – 290,000	Located 1.5 hours south of Sydney in the foothills of the Illawarra escarpment. It is
2003						appealingto local upgradingfamilies and frst home buyers.
Macarthur Gardens***	Campbelltown	46	197	96	N/A	A joint venture with Urban Growth approximately 30 kilometres from the CbD, close
2003						to shoppingand transport with appeal to a broad demographic.
bayswood^^^	Jervis bay	N/A	614	42	N/A	bayswood is located in Vincentia surrounded by National Park, stunning beaches
2003						and amenities. 2.5 hours from Sydney and on the doorstep of the beautiful Jervis
						bayarea.
Murrays beach^^^	Lake Macquarie	N/A	489	53	N/A	Located 1.5 hours drive north of Sydney having frontage to Lake Macquarie. This
2004						project offers superb natural livingenvironments and lakeside living.
		1,803	7,506

total revenue generated throughout the life of the project
^ % Sold relates to contracts settled
** Includes options taken over land
*** Represents Stockland’s estimated share of joint development income including an option for future development
^^^ Identified for disposal

STOCKLAND PROPERTY PORTFOLIO DECEMbER 2013 43

residential cOmmunities residential POrtfOliO

MARSDEN PARK, NSW

LocAtEd 50 kILoMEtRES NoRtHWESt oF tHE SydNEy cBd IN BLAcktoWN LGA. tHE SItE IS FIvE kILoMEtRES FRoM A LocAL RAILWAy StAtIoN, 2.5 kILoMEtRES FRoM tHE pRopoSEd MARSdEN pARk BuSINESS pARk ANd WItHIN 30 kILoMEtRES oF tHE MAJoR EMpLoyMENt pREcINctS oF NoRWESt BuSINESS pARk, MAcquARIE pARk ANd tHE pARRAMAttA cBd.

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residential cOmmunities residential POrtfOliO

NSW – development pipeline

Property/		Total project
Acquisition date	Location	value ($m)*	Total lots	Price range ($)	Project description
Marsden Park**	Marsden Park	741	2,084	230,000 – 450,000	Located 50 kilometres north-west of the Sydney CbD in blacktown LGA. The site is fve kilometres
2012					from a local railway station, 2.5 kilometres from the proposed Marsden Park business park and within
					30 minutes of the major employment precincts of Norwest business Park, Macquarie Park and the
					Parramatta CbD.
Anambah	Hunter/North Coast	586	2,402	163,000 – 310,000	Future release area located 45 minutes west of Newcastle and is a continuation of the Maitland
2003	Regions				growth corridor.
Lochinvar**	Hunter/North Coast	186	773	153,000 – 275,000	Future release area located 45 minutes west of Newcastle in the Maitland hinterland.
2003	Regions
Illawarra**	South Coast	177	642	166,000 – 265,000	Located 1.5 hours south of Sydney in the foothills of the Illawarra escarpment.
2003
Wallarah Peninsula (Coast &	Lake Macquarie	N/A	594	N/A	Located 1.5 hours drive north of Sydney. This project will offer superb natural living environments,
North Sectors)^^^					located high on the hills and within close proximity to nearby beaches.
2004
West Dapto 2**^^^	South Coast	N/A	623	N/A	Located 1.5 hours south of Sydney in the foothills of the Illawarra escarpment.
2003
		1,690	7,118

total revenue generated throughout the life of the project
** Includes options taken over land

^^^ Identified for disposal

STOCKLAND PROPERTY PORTFOLIO DECEMbER 2013 45

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NORTH LAKES, QLD
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AN AWARd WINNING pREMIER RESIdENtIAL MAStERpLANNEd coMMuNIty 30 kILoMEtRES NoRtH oF BRISBANE, oFFERS ScHooLS, pARkS, GoLF couRSE, ANd A MAJoR REtAIL SHoppING AREA.

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residential cOmmunities residential POrtfOliO

Queensland – released to market

~~Queensland – released~~	~~to market~~
Property/		Total project
Acquisition date	Location	value ($m)*	Total lots	% Sold^	Price range ($)	Project description
North Lakes	North Lakes,	1,125	4,687	87	168,000 – 399,000	An award winning major residential masterplanned community. Situated 30
2004	Moreton bay					kilometres north of brisbane with multiple schools, town centre, a major retail
						shoppingarea,commercialproperty precinct andgolf course.
North Shore	Townsville	1,094	5,442	24	113,000 – 265,000	An innovative and award winning masterplanned community, 12 kilometres north of
2001						the Townsville CbD, offers schools, parks, aquatic centre, town square and a sub-
						regional Stockland shopping centre. 30% of North Shore is dedicated to natural
						open spaces.
Pacifc Pines	Gold Coast	650	5,000	99	N/A	A masterplanned community on the Gold Coast, minutes from Surfers Paradise and
1992						all Gold Coast attractions offeringa range of schools,shoppingcentres andparks.
brightwater	Sunshine Coast	428	1,529	67	195,000 – 490,000	A vibrant residential community, which is situated on the southern end of the
2004						Sunshine Coast close to Mooloolaba. brightwater provides all the family needs: a
						school, childcare centre and shopping precinct. It also has its own central lake and
						ninepocketparks.
The Observatory	Kingsmore	262	906	89	265,000 – 750,000	Elevated central Gold Coast location with sweeping coastline views from Surfers
2002						Paradise to Coolangatta. Close to Gold Coast’s best shopping, private and public
						schools.
Highland Reserve	Upper Coomera	254	1,128	72	143,000 – 292,000	25 kilometres north-west of Surfers Paradise in the northern Gold Coast growth
2003						corridor, only 40 minutes south of brisbane, providing easy access to shops, schools
						and children’splayground.
Augustine Heights	Springfeld	214	903	68	215,000 – 276,000	Located in the Springfeld growth corridor of Ipswich, this boutique community offers
2003						wide open-space living,aprivate school and is minutes from the shoppingarea.
Riverstone Crossing**	Otmoor	202	762	53	214,000 – 300,000	Located 20 kilometres north-west of Surfers Paradise set on a magnifcent 194
2002						hectares at the foot of Tambourine Mountain.
North Lakes business Park	North Lakes,	183	111	41	N/A	The North Lakes business Park is a commercial site situated on the edge of the
2004	Moreton bay					North Lakes masterplanned communities.
Sovereign Pocket	Deebing Heights	147	806	18	132,000 – 222,000	Sovereign Pocket is six kilometres from the Ipswich CbD. It has easy access to both
2010						the Cunningham and Centenary Highways. The development includes large open
						spaces,a naturalparkland,barbecue facilities,bikingand walkingtracks.
bells Reach	Caloundra	144	770	33	89,000 – 235,000	bells Reach is on the periphery of the future Caloundra South masterplanned
2004						community located within fve kilometres of the Sunshine Coast beaches. This new
						community provides affordable housing options for a wide variety of home buyers
						and employs leading environmentally sustainable practices. It includes a retail site,
						major parks and signifcant open space and will ultimately form one of the gateways
						to Caloundra South.
Vale	Logan	128	655	20	140,000 – 235,000	Located within Logan City Catchment just two kilometres from beenleigh Town
2010						Centre and 30 kilometres to the brisbane CbD. The community appeals strongly to
						frst home buyers and upgrader target markets.
Stone Ridge	Narangba	126	586	24	159,000 – 255,000	Stone Ridge is located in the Moreton bay shire, situated between brisbane and the
2010						Sunshine Coast. The community features an 8.5 hectare eco-corridor and views to
						the Glasshouse Mountains.
Ormeau Ridge***	Ormeau	104	451	31	174,000 – 299,000	Conveniently located half way between brisbane and the Gold Coast beaches.
2008						The community features include a one hectare park, adventure playground and
						commercial siteplanned for childcare and convenience.

total revenue generated throughout the life of the project
^ % Sold relates to contracts settled
** Includes Stockland’s estimated share of joint development income (Stage 1 only). total lots represents 100% of the project
*** Represents Stockland’s 50% share of SREEF1

STOCKLAND PROPERTY PORTFOLIO DECEMbER 2013

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HIGHLAND RESERVE, QLD

tHE LAkESIdE LocAtIoN WItH A MAGNIFIcENt MouNtAIN BAckdRop IS LocAtEd 25 kILoMEtRES NoRtH-WESt oF SuRFERS pARAdISE IN tHE NoRtHERN GoLd coASt GRoWtH coRRIdoR.

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residential cOmmunities residential POrtfOliO

Queensland – released to market

Property/		Total project
Acquisition date	Location	value ($m)*	Total lots	% Sold^	Price range ($)	Project description
Freshwater^^	Griffn	37	174	63	179,000 – 261,000	Freshwater is a boutique community located 28 kilometres north of brisbane near the
2003						Pine River. It offers an intimate neighbourhood experience with good access to local
						schools, the bruce Highway and the amenities on offer at the nearby North Lakes
						community.
Hundred Hills***	Murwillumbah	31	167	43	148,000 – 196,000	25 kilometres south of the QLD/NSW border and 25 kilometres west of the coast,
2007						the project will yield the full mix of product types from small courtyards to large rural
						residential lots.
birtinya Island^^^	Sunshine Coast	N/A	995	24	N/A	Situated on the impressive Lake Kawana, with its own private rowing course, birtinya
2004						is a stylish residential community full of quality designer homes. Located just one
						hour north of brisbane, birtinya is not only right on the doorstep of the future Kawana
						Town Centre,but alsojust minutes topristinegolden surf beaches.
Kawana business Village^^^	Sunshine Coast	N/A	49	51	N/A	The Kawana business Village is a commercial and retail precinct of the Kawana
2004						community. It is located on the southern end of the Sunshine Coast approximately
						one hour drive north of brisbane, adjacent to the Sunshine Coast University Hospital,
						which is under construction.
Lake Kawana^^^	Sunshine Coast	N/A	138	99	N/A	A development precinct in the Oceanside community, which is situated on the
2004						southern end of the Sunshine Coast,one hour drive north of brisbane.
North Lakes Enterprise	North Lakes,	N/A	1	0	N/A	A 32 hectare site that is approved for General Industry. Located on boundary Road
Precinct^^^	Moreton bay					in the suburb of North Lakes, the project is proximal to the bruce Highway which
2009						facilitates direct travel routes to keylocations.
M1 Yatala Enterprise Park^^^	Yatala	N/A	9	89	N/A	Located in the industrial suburb of Yatala, 33 kilometres south of the brisbane CbD.
2006
Doonella Noosa (formerly	Noosaville	N/A	133	98	N/A	On the shores of Lake Doonella, Doonella Noosa is a natural enclave that provides
Lake Doonella)^^^						easy access to both Noosa and brisbane.
2004
		5,129	25,402

total revenue generated throughout the life of the project
^ % Sold relates to contracts settled
^^ Represents Stockland’s 20% share of SREEF1
*** Represents Stockland’s 50% share of SREEF1
^^^ Identified for disposal

STOCKLAND PROPERTY PORTFOLIO DECEMbER 2013 49

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BRIGHTWATER, QLD A vIBRANt RESIdENtIAL coMMuNIty, WHIcH IS SItuAtEd oN tHE SoutHERN ENd oF tHE SuNSHINE coASt cLoSE to MooLooLABA. BRIGHtWAtER pRovIdES ALL tHE FAMILy NEEdS: A ScHooL, cHILdcARE cENtRE ANd SHoppING pREcINct. It ALSo HAS ItS oWN cENtRAL LAkE ANd NINE pockEt pARkS.

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residential cOmmunities residential POrtfOliO

Queensland – development pipeline

Property/		Total project
Acquisition date	Location	value ($m)*	Total lots	Price range ($)	Project description
Caloundra South	Caloundra	5,000	20,000^	N/A	2,310 hectares of approved developable land, including up to 20,000 dwellings, employment, retail,
2004					retirement livingand communitylands.
Rockhampton	Rockhampton	598	2,282	130,000 – 200,000	Located seven kilometres north of Stockland Rockhampton and ten kilometres north of the
2010					Rockhampton CbD.
Paradise Waters	Deebing Heights	507	2,045	115,000 – 250,000	Paradise Waters is located in the Ripley Valley growth corridor and enjoys access from the newly
2010					constructed CentenaryHighway.
Caboolture West/Ripeford**	Caboolture	377	1,503	110,000 – 180,000	Located approximately 45 kilometres north of brisbane and 25 kilometres north-west of North Lakes.
2008
brookbent Road	Pallara	259	918	200,000 – 300,000	Located 22 kilometres south of the brisbane CbD. We expect this project to be popular with
2003					upgraders.
bahrs Scrub^^^	Logan	N/A	888	N/A	Located within a local development area 35 kilometres south of brisbane in the northern Gold Coast
2008					corridor.
bokarina beach^^^	Sunshine Coast	N/A	291	N/A	A future ocean front development precinct of the Oceanside community, which is situated on the
2004					southern end of the Sunshine Coast. One hour drive north of brisbane.
Twin Waters West (formerly	Sunshine Coast	N/A	849	N/A	Located 8 km from Maroochydore, bordered by the Maroochy River, the motorway, the David Low
Ocean Drive)					Way and Ocean Drive.
2005
		6,741	28,776

total revenue generated throughout the life of the project
** ^ dwellingsIncludes options taken over land
^^^ Identified for disposal

STOCKLAND PROPERTY PORTFOLIO DECEMbER 2013

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ALLuRA, VIC
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A MAStERpLANNEd coMMuNIty INcoRpoRAtING RESIdENtIAL, MEdIuM dENSIty, LocAL pARkS ANd ScHooLS.

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residential cOmmunities residential POrtfOliO

Victoria – released to market

Property/		Total project
Acquisition date	Location	value ($m)*	Total lots	% Sold^	Price range ($)	Project description
Highlands (including Mt	Craigieburn	1,526	7,358	52	133,000 – 267,000	An award winning masterplanned community located in Melbourne’s northern
Ridley Road)						suburbs with picturesque views of surrounding hills and the Melbourne CbD skyline.
2004, 2010						The project provides for residential, medium density, retirement living and schools,
						together with retail and commercial amenity.
Mernda Villages	Mernda	587	3,046	64	131,000 – 270,000	A major masterplanned community, located 29 kilometres north of Melbourne,
2002						appealingto a broad market including youngand mature families.
Eucalypt	Epping	384	1,684	36	131,000 – 278,000	Residential community located in Melbourne’s north-eastern suburbs with frontage
2009, 2011						to Findon Creek. The project provides for residential, medium density, mixed-use and
						school sites.
Allura	Truganina	307	1,349	34	136,000 – 281,000	A masterplanned community incorporating residential, medium density, local parks
2009						and schools.
Selandra Rise	Clyde North	258	1,186	70	133,000 – 223,000	A market leading community that aims to set new benchmarks in liveability and social
2007						sustainability. Comprising retail, retirement, aged care, public and private schools,
						sportingfelds and an abundance of open space.
Arbourlea	Cranbourne-berwick	74	334	37	136,000 – 230,000	A community with waterway frontage 42 kilometres south-east of Melbourne.
2007	Road
Sierra	Cranbourne North	45	243	99	N/A	A boutique residential community in natural surrounds located 42 kilometres south-
2004						east of Melbourne,appealingto lifestyle seekingupgraders.
		3,181	15,200

total revenue generated throughout the life of the project
^ % Sold relates to contracts settled

STOCKLAND PROPERTY PORTFOLIO DECEMbER 2013

residential cOmmunities residential POrtfOliO

HIGHLANDS, VIC A MAJoR MAStERpLANNEd coMMuNIty LocAtEd IN MELBouRNE’S NoRtHERN SuBuRBS WItH pIctuRESquE vIEWS oF SuRRouNdING HILLS ANd tHE MELBouRNE cBd SkyLINE. tHE pRoJEct pRovIdES FoR RESIdENtIAL, MEdIuM dENSIty, REtIREMENt LIvING ANd ScHooLS, toGEtHER WItH REtAIL ANd coMMERcIAL AMENItIES.

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residential cOmmunities residential POrtfOliO

Victoria – development pipeline

Property/		Total project
Acquisition date	Location	value ($m)*	Total lots	Price range ($)	Project description
Lockerbie**	Kalkallo/beveridge	4,507	11,500	180,000 – 626,000	Lockerbie is a large consolidated development site within Melbourne’s urban growth boundary. It is
2010					located on the Hume Highway in Kalkallo, about 35 kilometres north of the Melbourne CbD in the City
					of Hume. It will be developed as a masterplanned community and will support over 11,500 houses
					and major activity centre including a regional shopping centre and train station. There will also be an
					extensive range of schools,communityand recreation facilities and open space.
Davis Road	Tarneit	637	2,495	132,000 – 316,000	This site is within Melbourne’s urban growth boundary and adjoins the existing urban area of Tarneit. It
2010					is 28 kilometres west of the Mellbourne CbD in the City of Wyndham. The masterplanned community
					will include almost 2,500 homes, a neighbourhood activity centre, schools and a network of parks
					linked to Davis Creek and Werribee River.
Craigieburn	Craigieburn	300	1,236	133,000 – 267,000	This site is 108 hectares of residential zoned land acquired from Places Victoria in December 2013.
2013					The site will provide over 1,200 homes. The prime development site is located within close proximity
					to not only the award winning Highlands community, but also the newly completed $330m Craigieburn
					Town Centre Development: Craigieburn Central.
		5,444	15,231

total revenue generated throughout the life of the project
** Includes options taken over land

STOCKLAND PROPERTY PORTFOLIO DECEMbER 2013 55

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CALLEYA, WA

LocAtEd 18 kILoMEtRES FRoM tHE cBd, tHIS 145 HEctARE pRoJEct IS cLoSE to tHE kWINANA FREEWAy ANd cockBuRN cENtRAL RAILWAy StAtIoN ANd dIStRIct SHoppING cENtRE.

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residential cOmmunities residential POrtfOliO

Western Australia – released to market

Property/		Total project
Acquisition date	Location	value ($m)*	Total lots	% Sold^	Price range ($)	Project description
Vale	Aveley	787	2,984	21	158,000 – 334,000	A major residential masterplanned community. Situated 21 kilometres north-east of
2011						the Perth CbD incorporatingschools,medium densityresidential and a retail centre.
Calleya (formerly banjup)	banjup	576	1,822	0	205,000 – 409,000	18 kilometres from the CbD, this 145 hectare project is located close to the Kwinana
2008						Freewayand Cockburn Central railwaystation and district shoppingcentre.
Newhaven	Piara Waters	513	2,101	84	191,000 – 317,000	Outstanding quality and originality of design have culminated in this award winning
2001, 2005, 2007						masterplanned community. The project has combined residential, educational and
						recreational facilities within a sought after location resulting in a popular established
						neighbourhood.
Sienna Wood (formerly	brookdale	384	3,354	6	126,000 – 289,000	This joint venture with the Department of Housing in WA will create a new
Wungong Reach)**						masterplanned community within 30 kilometres south-east of the CbD. The project
2004, 2007, 2010						will be delivered over ten years and will see the land transformed into a vibrant,
						cohesive community providing much needed employment and economic growth to
						the region.
Amberton**	Eglinton	343	2,427	12	180,000 – 380,000	A private partnership to create a well-designed, friendly community on Perth’s
2010						northern beaches. Located approximately 45 kilometres from Perth’s CbD along 2
						kilometres of pristine coastline. The estate will feature tree-lined streets, public open
						spaces,children’splayground,shops and a beach-side café.
Whiteman Edge	brabham	335	1,353	39	166,000 – 284,000	Situated 20 kilometres north-east of the Perth CbD in the City of Swan. This
2011						masterplanned community will include close to 1,400 homes, a town centre, several
						parks and direct links to Whiteman Park.
Corimbia	Landsdale	310	1,001	69	294,000 – 381,000	Located 18 kilometres north of the CbD adjacent to Stockland’s award-winning
2005, 2006, 2007, 2010,						Landsdale Gardens Estate. This estate appeals to upgrader buyers. Tree-lined
2011, 2013						avenues are a signifcant aspect of the estate, connecting with the natural
						environment. In October 2013 an additional adjacent parcel was purchased,
						increasingthe lots at Corimbia by41.
Settlers Hills Townside	baldivis	85	503	87	138,000 – 173,000	Settlers Hills Townside is situated 38 kilometres south of the Perth CbD and
2007						leverages Settlers Hills premium position in baldivis. This project provides an
						affordable product mix which complements this masterplanned community and is
						located directlyopposite Stockland baldivis Town Centre.
baldivis Town Centre	baldivis	47	161	98	114,000 – 199,000	baldivis Town Centre is comprised of retail, commercial, mixed-use lots and
2001						residential.
		3,380	15,706

total revenue generated throughout the life of the project
^ % Sold relates to contracts settled
** Includes Stockland’s estimated share of joint development income

STOCKLAND PROPERTY PORTFOLIO DECEMbER 2013

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CORIMBIA, WA

LocAtEd 18 kILoMEtRES NoRtH oF tHE cBd AdJAcENt to StockLANd’S AWARdWINNING LANdSdALE GARdENS EStAtE. tHIS EStAtE AppEALS to upGRAdERS. tREELINEd AvENuES ARE A SIGNIFIcANt ASpEct oF tHE EStAtE, coNNEctING WItH tHE NAtuRAL ENvIRoNMENt.

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residential cOmmunities residential POrtfOliO

Western Australia – development pipeline

Property/		Total project
Acquisition date	Location	value ($m)*	Total lots	Price range ($)	Project description
brookdale West^^^	brookdale	N/A	301	N/A	Located in brookdale 25 kilometres south-east of the Perth CbD, brookdale West will provide a range
2007					of suburban lotproducts. This site is near Stockland’sjoint venture Sienna Wood.
		0	301

^^^ Identified for disposaltotal revenue generated throughout the life of the project

STOCKLAND PROPERTY PORTFOLIO DECEMbER 2013 59

retirement liVinG retirement POrtfOliO

MACARTHuR GARDENS, NSW

RESIdENtS At MAcARtHuR GARdENS REtIREMENt vILLAGE ENJoy tHE cLuBHouSE WHIcH FEAtuRES A MovIE tHEAtRE, INdooR SWIMMING pooL, cRAFt RooM, toWN HALL, cAFÉ ANd MoRE.

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retirement liVinG retirement POrtfOliO

Retirement Living

Stockland is a top 3 retirement living operator within Australia, with 8,208 established units across five states and ACT. The portfolio includes a short-medium term development pipeline of around 3,390 units.

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Affinity Village, WA

Geographic split %*

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28 50 15 4 12
Established and pipeline units
NSW VIC QLD WA ACT SA
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STOCKLAND PROPERTY PORTFOLIO DECEMbER 2013

retirement liVinG retirement POrtfOliO

ARILLA, VIC ARILLA vILLAGE RESIdENtS ENJoy tHE opEN SpAcE ANd RIvER REd GuMS SuRRouNdING tHE coMMuNIty cENtRE.

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retirement liVinG retirement POrtfOliO

Retirement Living – established villages

Property/					units yet to
Opening date	Location	Total units^	Established	% Occupancy*	come online	Price range ($)#	Project description
Affnity Village	baldivis, WA	250	74	99	176	302,000 – 479,000	Incorporated into the Stockland residential Settlers Hills development and adjacent to
2011							retail, medical and other amenities, Affnity Village is located 38kms south of Perth CbD
							and will be home to over 350 residents when complete. The Clubhouse has achieved a 5
							Star Green Star – Public buildingPILOT rating.
Arilla Village	South Morang,	202	152	100	50	289,000 – 595,000	Arilla Village is situated in Melbourne’s North, and is a key growth corridor. All villas are
2010	VIC						complete and the apartment building has had its frst settlements in 1H14. The village
							comprises of a Health and Wellbeing Centre with a pool; and a Community Centre with a
							bowling green.
bellcarra Retirement	Caloundra, QLD	124	124	95		253,750 – 324,800	Located in the newly established suburb of bellvista, bellcarra Retirement Resort is close
Resort							to the centre of Caloundra and Kings beach. The village features a swimming pool,
2003							bowling green and billiards room.
bellevue Gardens	Port Macquarie,	175	175	93		223,000 – 395,000	The village is centrally located less than two kilometres from the Port Macquarie city centre
Retirement Village	NSW						and is set on fve hectares of landscaped gardens. Facilities include a restaurant, coffee
1994							shop, auditorium, library, hair salon, medical consulting room, bowling green and resident
							clubhouse adjoiningan indoor-heated swimming pool and barbecue area.
bexley Gardens	bexley North,	22	22	95		100,000 – 175,000	Located in south-west Sydney, bexley Gardens is only 800 metres from bexley North
1974	NSW						railway station which serves the East Hills line into Sydney CbD. It is also in close proximity
							to major shoppingcentres in Hurstville,Rockdale and Kogarah.
bundoora Village	bundoora, VIC	242	242	98		179,000 – 565,000	bundoora Village is situated close to the Northern Ring Road, RMIT University, shopping
2003							strips and is well serviced by public transport. The 6.7 hectare site enjoys excellent views
							over the PlentyValleyGorge.
burnside Village	burnside, VIC	257	257	98		157,000 – 383,000	burnside Village is located off the Western Highway in Melbourne’s burgeoning west,
2002							approximately 20 minutes from the Melbourne CbD. Virtually next door is burnside
							ShoppingCentre complete with two supermarkets and specialtyretail.
Camden View Village	Laurieton, NSW	54	54	100		261,000 – 389,000	Camden View Village is situated between North brother Mountain and the Camden Haven
2002							River on the NSW mid-north coast. Camden View is about 100 metres away from the
							centre of Laurieton.
Cameron Close Village	burwood, VIC	187	187	96		154,000 – 976,000	Cameron Close Village is situated in burwood, close to the exclusive shopping and
1989							restaurant precincts of Camberwell and Canterbury and is well serviced by bus and tram
							routes linking to rail and Chadstone shopping centre. Elevated parts of the property enjoy
							district and CbD skyline views.
Cardinal Freeman	Ashfeld, NSW	230	230	80		137,000 – 638,000	Cardinal Freeman Retirement Village is set in the sought after inner-west suburb of
Retirement Village							Ashfeld. Close to shops and transport, the village features a magnifcent chapel along with
1980							the heritage listed Glentworth House. The village offers various levels of care ranging from
							independent living,assisted livingand low and high aged care.
Castle Ridge Resort	Castle Hill, NSW	114	114	93		289,000 – 618,000	Castle Ridge Resort is less than two kilometres from Castle Towers shopping centre
1987							in Castle Hill with Dural, Carlingford, North Rocks and Pennant Hills within easy reach.
							It offers a swimming pool and spa, visiting doctor, snooker and billiard room and a
							hairdresser.
Donvale Village	Donvale, VIC	146	146	92		133,000 – 505,000	Donvale Village is located on Springvale Road in one of Melbourne’s prime eastern
1990							suburbs, surrounded by high quality housing and a strong potential catchment to the north
							and north-east,with limited competition in the area.
Farrington Grove	Ferny Hills, QLD	201	91	96	110	175,000 – 520,000	Farrington Grove Retirement Estate is a popular village located in the quiet outer brisbane
Retirement Estate							suburb of Ferny Hills. Village facilities include billiards, solar-heated pool, barbeque area,
1998							hairdresser, piano lounge,computer room,libraryand hobbyshed.
Fig Tree Village	Murrumba	189	125	99	64	290,000 – 435,000	Fig Tree Village is well located adjacent to a neighbourhood shopping centre with access
2009	Downs, QLD						to medical and recreational facilities. The village offers a heated-indoor pool, bowling
							green,bar,library, gym,billiards room and hair salon.

^ Excludes Aged care (i.e. nursing homes and hostels)
occupied units as proportion of Established units available for occupancy
price range based on Established units

STOCKLAND PROPERTY PORTFOLIO DECEMbER 2013

retirement liVinG retirement POrtfOliO

FARRINGTON GROVE, QLD

FARRINGtoN GRovE REtIREMENt EStAtE IS A popuLAR vILLAGE LocAtEd IN tHE quIEt outER BRISBANE SuBuRB oF FERNy HILLS. vILLAGE FAcILItIES INcLudE BILLIARdS, SoLAR-HEAtEd pooL, BARBEquE AREA, HAIRdRESSER, pIANo LouNGE, coMputER RooM, LIBRARy ANd HoBBy SHEd.

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retirement liVinG retirement POrtfOliO

Retirement Living – established villages (continued)

Property/					units yet to
Opening date	Location	Total units^	Established	% Occupancy*	come online	Price range ($)#	Project description
Gillin Park Retirement	Warrnambool,	100	100	91		97,000 – 342,000	Located in Warrnambool on the south-west Victorian coast, it is close to the city
Village	VIC						centre, hospital and shopping centres. The village offers various levels of care including
1990							independent livingvillas,serviced apartments and a 45-bed aged care facility.
Golden Ponds Resort	Forster, NSW	158	158	96		140,000 – 400,000	Golden Ponds Resort is set between Wallis Lake and the beaches of Forster on the NSW
1988							mid-north coast. The resort is surrounded by 13 hectares of landscaped grounds, ponds
							and rainforest.
Gowanbrae Village	Gowanbrae, VIC	189	188	100	1	287,000 – 602,000	Gowanbrae Village enjoys an excellent location ten kilometres north of Melbourne’s CbD,
2008							providing quick access to the city, airport and surrounding suburbs. It has spacious
							grounds and the CommunityCentre includes apool,libraryand bowling green.
Greenleaves Retirement	Upper Mt	103	103	88		120,000 – 340,000	Greenleaves Retirement Village is adjacent to a shopping centre and cinemas and has
Village	Gravatt, QLD						facilities including a bowling green and barbecue area.
1986
Halls Head Village	Halls Head, WA	46	46	76		147,000 – 208,000	Halls Head Village is a one hour drive south of Perth and three kilometres from Mandurah.
1988							The village offers a hairdressing salon, podiatrist, library, pool table, indoor bowls and
							barbecue facilities. Public transport is available opposite the village.
Highlands Retirement	Craigieburn, VIC	216	120	100	96	275,000 – 455,000	Highlands Retirement Village is situated within Stockland’s Highlands masterplanned
Village							community and adjacent to the recently completed and now open town centre. The
2010							communitycentre features a bowling green and town hall.
Keilor Village	Keilor, VIC	191	191	93		120,000 – 474,000	Keilor Village benefts from close proximity to the Western Ring Road and Calder Freeway
1997							and bus services running directly past the site. It is a short distance to numerous shopping
							options.
Knox Village	Wantirna South,	204	204	97		262,000 – 487,000	Knox Village enjoys an excellent location directly opposite Knox Shopping Centre,
1978	VIC						comprising cafés, restaurants, a cinema complex and a wide range of grocery and retail
							outlets.
Latrobe Village	Reservoir, VIC	249	249	93		121,000 – 402,000	Latrobe Village is located adjacent to the Summerhill Shopping Centre and close to
1989							Northland Shopping Centre. Other facilities in the area, well serviced by bus and tram,
							include bundoora Park,Preston Markets and major hospitals.
Leschenault Village	bunbury, WA	38	38	87		284,200 – 338,100	Close to the Leschenault Inlet, Leschenault Village is within easy walking distance of
1988							bunbury city centre. The village offers a wide range of amenities including a bowling green
							and an outdoor entertainingarea overlookingthe establishedgardens.
Lincoln Gardens	Port Macquarie,	54	54	98		295,000 – 350,000	Lincoln Gardens Retirement Village is ideally located in a quiet suburban enclave and is in
Retirement Village	NSW						close proximity to Port Macquarie’s hospital and town centre.
2001
Long Island Village	Frankston, VIC	158	158	94		126,000 – 350,000	Long Island Village is located just off the Nepean Highway, a short stroll from the Seaford
1987							foreshore. Retail amenities servicing the village include Frankston, Patterson Lakes and Mt
							Eliza centres,all of which havegrown substantiallyin recentyears.
Lourdes Retirement	Killara, NSW	173	173	84		264,000 – 806,000	Located in Killara on Sydney’s North Shore, the village overlooks Garigal National Park.
Village							The village offers a central clubhouse with coffee shop as well as a dining room, lounge,
1983							chapel, billiards room, hair salon, library, heated-swimming pool and spa. The village offers
							various levels of care from independent living,assisted livingand low and high aged care.
Macarthur Gardens	Campbelltown,	264	133	100	131	289,000 – 535,000	The village is conveniently located between Macarthur Square shopping centre and
Retirement Village	NSW						Campbelltown Golf Club. Village facilities include bowling green, indoor pool, bar, café,
2011							outdoor chessboard,work shed, putting green andpractice drivingnet.
Macquarie Grove	Tahmoor, NSW	44	44	98		192,000 – 310,000	Macquarie Grove Retirement Village is located at the gateway to the Southern Highlands.
Retirement Village							It is close to local clubs, recreational activities, medical services and transport. It features
1996							computer facilities,hairdresser,library and barbecuefacilities.
Maybrook Village	Cromer, NSW	98	98	77		94,000 – 650,000	Perched on the ridge at Cromer in Sydney’s northern beaches, the village has a bushland
1992							outlook. It features a libraryand billiards room,agym and indoor-heatedpool and spa.

^ Excludes Aged care (i.e. nursing homes and hostels)
occupied units as proportion of Established units available for occupancy
price range based on Established units

STOCKLAND PROPERTY PORTFOLIO DECEMbER 2013

retirement liVinG retirement POrtfOliO

NORTH LAKES, QLD

cENtRALLy LocAtEd IN tHE BEAutIFuL NoRtH LAkES REtIREMENt RESoRt, WItHIN A SAFE ANd SEcuRE ENvIRoNMENt, NoRtH LAkES REtIREMENt RESoRt IS JuSt A SHoRt WALk to SHopS, LEISuRE ActIvItIES ANd MEdIcAL FAcILItIES.

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retirement liVinG retirement POrtfOliO

Retirement Living – established villages (continued)

Property/					units yet to
Opening date	Location	Total units^	Established	% Occupancy*	come online	Price range ($)#	Project description
Midlands Terrace	North ballarat,	89	89	99		165,000 – 200,000	Midlands Terrace enjoys strong demand from prospective residents and is well positioned
1976	VIC						in its local market area. The village adjoins Northway Shopping Centre with proximity to
							medical and communityfacilities.
Murray River Village	Mandurah, WA	37	37	81		217,000 – 277,000	Located one kilometre from bunbury, Murray River Village offers amenities including air-
1988							conditioned clubhouse with outdoor terrace and barbecue area, solar-heated swimming
							pool,lounge,hairdressingsalon, podiatrist room and library.
North Lakes Retirement	North Lakes,	354	325	97	29	132,000 – 585,000	Located in one of Australia’s fastest growing regions, the North Lakes Retirement Resort
Resort	QLD						is only 35 minutes from brisbane and 30 minutes from brisbane International Airport. The
2005							resort layout provides security as well as an outstanding array of amenities. The resort
							is within the expanding North Lakes Town Centre and easy walking distance from the
							regional shoppingcentre,health and educationprecincts.
Oak Grange	brighton East,	110	110	92		290,000 – 517,000	Oak Grange is located on Hawthorn Road, brighton East, close to brighton’s famous
1984	VIC						beaches,shops and cafés. The Nepean Highway provides easyaccess to the city.
Parklands Village	Port Macquarie,	144	144	91		70,000 – 244,000	Parklands Village is a private retreat set on fve hectares of landscaped parkland, just
(formerly Hastings	NSW						minutes from transport, medical facilities and the centre of Port Macquarie. The village has
Parklands Village)							a full-length artifcial grass bowling green and heated-indoor pool and spa.
1985
Patterson Lakes Village	Patterson Lakes,	207	207	94		125,000 – 345,000	Patterson Lakes Village is located directly opposite Patterson Lakes Shopping Centre
1980	VIC						and Marina and features a central lake as the focal point of the village. Local bus services
							passing the front gate link to Carrum railway station. Patterson Lakes village has both
							independent livingvillas and serviced apartments.
Pine Lake Village	Elanora, QLD	147	147	92		120,000 – 295,000	Pine Lake Village is located at Elanora on Queensland’s Gold Coast and features a
1982							swimming pool and views of a nearbylake.
Plenty Valley Village	Epping, VIC	204	204	100		173,000 – 526,000	Plenty Valley Village is situated off McDonalds Road in Epping, within close proximity to the
2006							nearby Epping shopping complex. The location is well serviced with transport, healthcare,
							medical and aged care facilities.
Queens Lake Village	Laurieton, NSW	124	124	92		163,000 – 370,000	Situated on the Queens Lake waterfront, Queens Lake Village is equipped with its own
1987							privatejetty. It is convenientlylocatedjust one kilometre from Laurieton’s town centre.
Ridgecrest Village	Page, ACT	126	126	100		322,000 – 502,000	Ridgecrest Village at Page in Canberra is spread over 5.4 hectares and has facilities
1986							includingbarbecue areas,a bowling green and resident’s lounge.
River Parks Village	Wilson, WA	33	33	100		304,500 – 314,650	River Parks Village is set amongst private landscaped gardens adjacent to the Canning
1988							River and located in Wilson,only13 kilometres from the centre of Perth.
River Pines Village	Wilson, WA	34	34	97		287,850 – 297,950	River Pines Village, adjacent to the Canning River, is situated within easy access of local
1988							shoppingcentres.
Rosebud Village	Rosebud, VIC	105	105	99		163,000 – 329,000	Rosebud Village is located in the heart of the Mornington Peninsula and is well serviced
1980							by the region’s many championship golf courses, wineries and beaches. Several bowling
							clubs and the Rosebud RSL are convenient to the site. Public transport services link to
							Rosebud town centre and Frankston railwaystation.
Rylands of Hawthorn	Hawthorn, VIC	84	84	100		638,000 – 1,562,000	Rylands of Hawthorn is positioned close to the shopping and entertainment precinct of
2008							Camberwell Junction. This retirement resort features stunning modern apartments and
							spacious communal facilities.
Rylands of Kew	Kew, VIC	65	65	100		506,000 – 1,383,000	Rylands of Kew is located adjacent to shops and facilities at Kew Junction. The property’s
2007							centrepiece is a heritage building that has been blended with contemporary architecture to
							create a relaxingenvironment.
Salford Park Community	Wantirna, VIC	171	171	90		268,000 – 450,000	Residents at Salford Park Community Village live independently in one or two bedroom
Village							units, however there are also aged care facilities available offering 120 beds for those who
1983							require some extra assistance.

^ Excludes Aged care (i.e. nursing homes and hostels)
occupied units as proportion of Established units available for occupancy
price range based on Established units

STOCKLAND PROPERTY PORTFOLIO DECEMbER 2013

retirement liVinG retirement POrtfOliO

FIG TREE, QLD LocAtEd IN MuRRuMBA doWNS, FIG tREE vILLAGE HAS A RESoRt-StyLE coMMuNIty cENtRE, WELL AppoINtEd INdEpENdENt LIvING uNItS ANd SpAcIouS LANdScApEd StREEtS.

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retirement liVinG retirement POrtfOliO

Retirement Living – established villages (continued)

Property/					units yet to
Opening date	Location	Total units^	Established	% Occupancy*	come online	Price range ($)#	Project description
Salford Retirement	Aberfoyle Park,	74	74	92		267,000 – 314,000	Located in the tree-studded foothills of South Australia’s Aberfoyle Park, Salford
Estate	SA						Retirement Estate is 20 kilometres from Adelaide’s CbD and less than three kilometres to
1990							the local shopping centre.
Salford Waters	Victoria Point,	181	181	89		121,000 – 570,000	Situated on the Moreton bay waterfront in Victoria Point, Salford Waters Retirement Estate
Retirement Estate	QLD						is less than three kilometres to Victoria Point Shopping Centre and a half-hour drive to
1993							brisbane’s CbD.
Selandra Rise	Cranbourne, VIC	214	41	100	173	315,000 – 475,000	The village will include 202 villas and 12 apartments when fully developed. It is located
Retirement Village							opposite a shopping centre within the Selandra Rise residential community. The
2013							Clubhouse is being completed in FY14 and will include a pool, bowling green, bocce pitch
							and self-service café. The Green building Council of Australia awarded a 4 Star Green Star
							–Custom Design Certifed Rating in December 2013.
Tarneit Skies Retirement	Tarneit, VIC	159	142	97	17	189,000 – 389,000	Tarneit Skies Retirement Village is located in Melbourne’s western suburbs. The village
Village							features an indoor swimming pool, spa, gymnasium, dining room, crafts room, computer
2003							suite and billiards.
Taylors Hill Village	Taylors Hill, VIC	199	199	98		221,000 – 422,000	Taylors Hill Village is located approximately fve minutes from the Calder Freeway and
2005							Watergardens Regional Shopping Centre. The village features modern community facilities
							with both independent living units and apartments.
Templestowe Village	Templestowe,	153	153	96		123,000 – 468,000	Templestowe Village is set out in a park-like environment opposite beautiful Westerfolds
1983	VIC						Park, which features walking tracks along the banks of the Yarra River, barbecue facilities
							and picnic areas.
The Cove Village	Daleys Point,	112	112	87		180,000 – 539,000	Situated on the NSW Central Coast, the village boasts absolute water frontage with most
1983	NSW						units having views of brisbane Waters. The village has two outdoor barbeque areas, three
							swimming pools, a spa and a private jetty.
The Grange Retirement	Grange, SA	57	57	98		392,805 – 409,045	The Grange Retirement Estate is located just over one kilometre from the seafront suburb
Estate							of Grange and 12 kilometres from Adelaide’s CbD. The village is in close proximity to
1992							public transport, hospital and shopping centres.
The Lakes Estate	Taylors Lake,	172	172	92		114,000 – 497,000	The Lakes Estate is ideally located on the corner of Kings Road and Melton Highway,
2000	VIC						directly opposite Watergardens Shopping Centre and railway station.
The Village Swansea	Swansea, NSW	141	141	100		199,000 – 377,000	Located in the seaside peninsula township of Swansea, on the NSW Central Coast, the
1988							village is situated in close proximity to Lake Macquarie and Swansea Shopping Centre.
							The village features three salt-water swimming pools and two community centres.
The Willows Retirement	Winston Hills,	266	259	93	7	125,000 – 719,000	The Willows Retirement Village is situated at Winston Hills in north-west Sydney. The
Village	NSW						village is close to shopping centres, sports clubs, hospitals, 24-hour medical facilities and
1988							less than one kilometre to the M2 freeway leading to Sydney’s CbD.
Unity Retirement Village	Aberfoyle Park,	130	130	88		112,000 – 298,000	Located in Aberfoyle Park, Unity’s facilities include a bowling green, recreation hall, dining
1985 Vermont Village	SA Vermont South,	125	125	98		259,000 – 385,000	room, and half-court tennis. It is walking distance to Aberfoyle Park shopping centre. Vermont Village benefts from an excellent location, plenty of open space and established
1981	VIC						gardens. Located on burwood Highway near Koomba Park, the village is close to several
							large shopping centres including Vermont South, Knox, The Glen and Forest Hill.
Wamberal Gardens	Wamberal, NSW	62	62	87		221,000 – 293,000	Wamberal Gardens Retirement Village is located on the NSW Central Coast adjacent to
Retirement Village							Wamberal Lagoon with the beach just one block away. The village features two swimming
1983							pools, two outdoor barbecue areas, an activities room and library.
Wantirna Village	Wantirna, VIC	180	180	98		126,000 – 445,000	Wantirna Village benefts from an outstanding range of retail and transport amenities. The
1986							6.3 hectare site adjoins the blind Creek Reserve and is close to the Dandenong Ranges
							National Park, Morack and Ringwood Golf Course, Knox Library and several hospitals.
Waratah Highlands	bargo, NSW	217	125	95	92	266,000 – 385,000	Set on 10 hectares of woodland, Waratah Highlands Village is in close proximity to the
Village							Southern Highlands and 500 metres to bargo railway station. The village features a
2002							hairdresser, beautician, library and billiards room.
		9,154	8,208		946

^ Excludes Aged care (i.e. nursing homes and hostels)
occupied units as proportion of Established units available for occupancy
price range based on Established units

STOCKLAND PROPERTY PORTFOLIO DECEMbER 2013

retirement liVinG retirement POrtfOliO

ARILLA, VIC

ARILLA vILLAGE IS SItuAtEd IN MELBouRNE’S NoRtH, ANd IS A kEy GRoWtH coRRIdoR. ALL vILLAS ARE NoW coMpLEtE ANd tHE ApARtMENt BuILdING HAS HAd ItS FIRSt SEttLEMENtS IN 1H14. tHE vILLAGE coMpRISES A HEALtH ANd WELLBEING cENtRE WItH A pooL; ANd A coMMuNIty cENtRE WItH A BoWLING GREEN.

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retirement liVinG retirement POrtfOliO

Retirement Living – development pipeline

Property	Location	Total units^	Project description
Caloundra Downs	Caloundra, QLD	400	There is an opportunity for retirement communities within Stockland’s 3,700 hectare Caloundra Downs project which will include at least 20,000
			residential dwellings,employment and retail. These will be developed as the broaderproject comes to market.
Cardinal Freeman Retirement	Ashfeld, NSW	240	A modifcation to the major project application for new independent living units, to be developed in stages, has been approved by the NSW
Village			Department of Planning.
Davis Road	Tarneit,VIC	250	A retirement livingopportunityexists within Stockland’s Davis Road masterplanned community,28 kilometres west of Melbourne CbD.
Davis Road II	Tarneit,VIC	250	A second retirement livingopportunityexists within Stockland’s Davis Road masterplanned community,28 kilometres west of Melbourne CbD.
Golden Ponds Resort	Forster,NSW	47	A masterplan for the remainingstages of development is beingdeveloped.
Highlands Extension	Craigieburn,VIC	200	An opportunitywithin Stockland’s residential communityexists adjacent to the Highlands retirement village. A masterplan is beingdeveloped.
Lockerbie	Kalkallo/beveridge,VIC	250	A retirement livingopportunityexists within Stockland’s Lockerbie masterplanned community,35 kilometres north of Melbourne CbD.
Marsden Park	Marsden Park,NSW	280	A retirement livingopportunityexists within Stockland’s Marsden Park masterplanned community,50 kilometres north-west of SydneyCbD.
Mernda Retirement Village	Mernda, VIC	272	Located within the Stockland Mernda Villages masterplanned community 25 kilometres north-east of Melbourne. Construction of frst villas
			commenced in October 2013.
Willowdale Retirement Village	Leppington, NSW	255	A retirement living opportunity exists within Stockland’s Willowdale masterplanned community, 50 kilometres south-west of Sydney CbD.
(formerlyEast Leppington)
		2,444
Developments at established villages		946
Total		3,390

^ Excludes Aged care (i.e. nursing homes and hostels)

Retirement Living – aged care

Property	Location	Total beds	% Occupancy*	Project description
Cardinal Freeman	Ashfeld, NSW	119	85%	Located in Ashfeld, the Cardinal Freeman Lodge provides low-level nursing care while the village’s nursing home provides high-level care. The site
1980				is subject to redevelopment alongwith the associated retirement village.
Gillin Park	Warrnambool,	45	89%	Located in Warrnambool, the regional hub of south-west Victoria.
1990	VIC
Lourdes	Killara, NSW	82	96%	Located at Lourdes Retirement Village and set in beautifully landscaped, colourful gardens. Lourdes Aged Care provides short-term respite care, a
1983				low-care hostel and a high-care nursinghome across 82 beds,which caters to bothgeneral service and extra-service high care.
Salford Park	Wantirna, VIC	120	97%	Located at Salford Park Retirement Village in Wantirna.
1983
		366

occupied beds as proportion of all beds available for occupancy

STOCKLAND PROPERTY PORTFOLIO DECEMbER 2013 71

unlisted PrOPerty funds

Unlisted Property Funds[*]

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Optus Centre, Macquarie Park, NSW

Stockland has $317.7 million of funds under management across a range of funds and asset classes.

Australian Funds only

unlisted PrOPerty funds

	~~unlisted Property Funds – summary~~ Fund Type of fund Funds under management ($m) Establishment date Expiry/ review date Stockland Direct Offce Trust No. 2(SDOT2) Retail 186.3 Sep2005 N/A Stockland Direct Retail Trust No. 1(SDRT1) Retail 69.5 Dec 2006 Jun 2014 Stockland Residential Estates EquityFund No. 1(SREEF1) Wholesale 61.9 Aug2006 Aug2016 317.7*

Represents gross assets.

** Represents the total of SREEF1’s total committed equity (less capital returned to unit holders) and drawn debt at 31 december 2013.

~~unlisted~~	~~Property Funds – asset overview~~
				%	Book value	Valuation		% age of fund’s
	Property type	Property	State	Ownership	($m)	($m)	NLA (m2)#	total gross assets	Page
SDOT2	Offce Park	Optus Centre^	NSW	49	184.4	184.4	84,194	99	36
		Macquarie Park
		SDOT2
SDRT1	Retail	benowa Gardens	QLD	100	31.5	31.5	5,767	45	74
		Pacifc Pines	QLD	100	22.0	22.0	5,518	32	74
		Tamworth Homespace	NSW	100	14.3	14.3	13,053	21	74
SREEF1	Residential	Freshwater	QLD	80	149.7^^	N/A	N/A	53	49
	Communities	Ormeau Ridge	QLD	50	103.9^^	N/A	N/A	36	47
		Hundred Hills	NSW	50	31.4^^	N/A	N/A	11	49

100% of NLA.
^ Sdot2 has sold it’s interest in Macquarie park trust, the owner of the optus centre, with settlement expected to occur in February 2014.
^^ Fund share of total project value defined as total gross revenue generated throughout the life of the project.

STOCKLAND PROPERTY PORTFOLIO DECEMbER 2013

unlisted PrOPerty funds

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~~Benowa Gardens Shopping Centre~~

benowa Gardens is a fully enclosed neighbourhood shopping centre located on the Gold Coast. The centre was originally constructed in 1992, and has been periodically refurbished, with the most recent refurbishment completed in 1998. The centre is anchored with a Coles supermarket and over 40 specialty retailers. There is on-site parking for 437 vehicles, including 200 covered bays.

Location: QLD

Location: QLD
Acquisition date:	dec 2006
ownership/title:	100%/Freehold
cost includingadditions:	$28.3 million

Last Independent Valuation
date:	dec 13
valuation/($/m2):	$31.5 million($5,462/m2)
capitalisation rate:	8.50%
discount rate:	9.50%
carparkingspaces:	437

Gross lettable area:	5,767
Annual sales:	$60.1 million
Weighted average lease expiry:	4.90years

Major tenants	GLA(m2)
coles	1,960

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

Pacifc Pines Town Centre
----- End of picture text -----

Pacific Pines Town Centre was developed by Stockland as part of a masterplanned community, situated in the northern Gold Coast region, near Helensvale. The neighbourhood shopping centre has an open plan style and is anchored by Woolworths plus 13 specialty stores and parking for 355 vehicles.

Location: QLD

Location: QLD
Acquisition date:	dec 2006
ownership/title:	100%/Freehold
cost includingadditions:	$18.1 million

Last Independent Valuation
date:	dec 13
valuation/($/m2):	$22.0 million($3,987/m2)
capitalisation rate:	7.75%
discount rate:	9.25%
carparkingspaces:	355

Gross lettable area:	5,518
Annual sales:	$55.2 million
Weighted average lease expiry:	7.50years

Major tenants	GLA(m2)
Woolworths	3,541

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Tamworth Homespace

Tamworth Homespace is a modern single level bulky goods shopping centre located on the New England Highway, four kilometres south of the Tamworth CbD. Developed by Stockland, the centre commenced trading in November 2004 and is anchored by The Good Guys. There are 11 additional bulky goods tenancies, a restaurant and a medical centre, with on-site parking for 416 vehicles.

Location: NSW

Location: NSW
Acquisition date:	dec 2006
ownership/title:	100%/Freehold
cost includingadditions:	$21.8 million

Last Independent Valuation
date:	dec 13
valuation/($/m2):	$14.3 million($1,096/m2)
capitalisation rate:	11.00%
discount rate:	11.00%
carparkingspaces:	416

Gross lettable area:	13,053
Annual sales:	N/A
Weighted average lease expiry:	3.90years

Major tenants	GLA(m2)
the Good Guys	2,404
your Homemaker	2,153
pillowtalk	1,794

Lease expiry profile %

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3 5 9 11 4 67
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1 7 5 5 83
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29 21 50
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Vacant FY 14 15 16 17 18+

aPartments & stOckland uk

Apartments & Stockland UK

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The Islands, WA

STOCKLAND PROPERTY PORTFOLIO DECEMbER 2013

aPartments & stOckland uk

Apartments – released to market

Property/		Total project		%	Current
Acquisition date	Location	value ($m)*	Total units	Sold^	price range ($)	Project description
The Islands^^^	Southbeach, Perth,	N/A	101	37	N/A	Located just minutes from Fremantle on the Cockburn coast, the site offers
2007	WA					apartments, townhouses and beach houses with spectacular panoramic views of
						Garden,Carnac and Rottnest islands as well as Fremantle harbour.
		–	101

^^^^ Identified for disposal% Sold relates to contracts exchanged and settledtotal revenue generated throughout the life of the project

Stockland uK on-balance sheet properties

~~Stockland uK on-balance sheet properties~~
			Stockland uK %
Project location	County	Category	equity
St Andrew Square,Edinburgh	Scotland	Mixed-use	100
billingham Town Centre,billingham	Teesside	Retail	100
Three Horse Shoes Mall,Market Place,Warminster	Wiltshire	Retail	100
73,73A,73b High Street,brentwood	Essex	Retail	100
William Hunter Way,brentwood	Essex	Retail	100

this report is printed on Monza Satin 55 per cent recycled paper, sourced from post consumer waste. the paper is certified against the Forest Stewardship council (FSc) standards, which supports the responsible use of the world’s forest resources.

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Disclaimer of Liability

While every effort is made to provide accurate and complete information, Stockland does not warrant or represent that the information in this brochure is free from errors or omissions or is suitable for your intended use. Subject to any terms implied by law and which cannot be excluded, Stockland accepts no responsibility for any loss, damage, cost or expense (whether direct or indirect) incurred by you as a result of any error, omission or misrepresentation in information. Note: All figures are in Australian dollars unless otherwise indicated.

Stockland Corporation Ltd ACN 000 181 733

Head Office Level 25, 133 Castlereagh Street Sydney NSW 2000

Sydney Telephone 02 9035 2000

Melbourne Telephone 03 9095 5000

Brisbane Telephone 07 3305 8600 Perth Telephone 08 6141 8000

www.stockland.com.au

AI assistant

STOCKLAND — Fund Information / Factsheet 2014

65781_rns_2014-02-11_45631606-b493-46e8-a5b3-453cc9703356.pdf

Property Portfolio 31 December 2013

Our PrOPerty POrtfOliO

Our stOry

Property Portfolio

~~cOmmercial POrtfOliO~~

~~retirement POrtfOliO~~

~~unlisted PrOPerty funds~~

Retail

Lease expiry profile %*

HERVEY BAY, QLD

~~Retail Portfolio as at 31 December 2013~~

Includes townsville kmart centre

Location: Merrylands, NSW

~~Stockland Townsville~~

Location: Townsville, QLD

Lease expiry profile %

Location: Rockhampton, QLD

Location: East Maitland, NSW

~~Stockland Glendale~~

~~Stockland Cairns~~

Location: Cairns, QLD

~~Stockland Point Cook~~

Location: Point Cook, VIC

Lease expiry profile %

Location: Forster, NSW

Lease expiry profile %

Location: Gladstone, QLD

Location: Wendouree, VIC

~~Stockland Jesmond~~

Location: Newcastle, NSW

Lease expiry profile %

Location: Balgowlah, NSW

Last independent valuation

Location: Baulkham Hills, NSW

Location: Caloundra, QLD

~~Stockland Bull Creek~~

~~Stockland Nowra~~

~~Stockland Cleveland~~

Location: Cleveland, QLD

Lease expiry profile %

Location: Traralgon, VIC

Location: Bathurst, NSW

Location: Hervey Bay, QLD

Location: Corrimal, NSW

~~Stockland Riverton~~

~~Stockland Piccadilly~~

Location: Sydney CBD, NSW

Lease expiry profile %

Location: Wallsend, NSW

Location: Shellharbour, NSW

~~Stockland Baldivis~~

~~Stockland Cammeray~~

~~Stockland Highlands~~

Location: Craigieburn, VIC

Lease expiry profile %

~~Stockland North Shore~~

Location: North Shore, QLD

Location: Toowong, QLD

Lease expiry profile %

Lease expiry profile %

Industrial

YENNORA, NSW

~~Industrial Portfolio as at 31 December 2013~~

Represents the full carrying value of the investment property

Location: Yennora, NSW

~~Hendra Distribution Centre~~

Location: Brisbane, QLD

Lease expiry profile %

~~Brooklyn Estate~~

~~Forrester Distribution Centre~~

~~Toll Business Park~~

Location: Altona, VIC

Lease expiry profile %

~~20-50 and 76-82 Fillo Drive and 10 Stubb Street~~

Location: Somerton, VIC

~~9-11a Ferndell Street~~

~~1090-1124 Centre Road~~

STOCKLAND Fund Information / Factsheet 2014

cOmmercial POrtfOliO

retirement POrtfOliO

unlisted PrOPerty funds

Retail Portfolio as at 31 December 2013

Stockland Townsville

Stockland Glendale

Stockland Cairns

Stockland Point Cook

Stockland Jesmond

Stockland Bull Creek

Stockland Nowra

Stockland Cleveland

Stockland Riverton

Stockland Piccadilly

Stockland Baldivis

Stockland Cammeray

Stockland Highlands

Stockland North Shore

Industrial Portfolio as at 31 December 2013

Hendra Distribution Centre

Brooklyn Estate

Forrester Distribution Centre

Toll Business Park

20-50 and 76-82 Fillo Drive and 10 Stubb Street

9-11a Ferndell Street

1090-1124 Centre Road

Export Park

40 Scanlon Drive

Offce Portfolio as at 31 December 2013

Piccadilly Complex

Durack Centre

135 King Street

60-66 Waterloo Road

77 Pacifc Highway

40 Cameron Avenue

Garden Square

16 Giffnock Avenue

110 Walker Street

NSW – released to market

NSW – development pipeline

Queensland – released to market

Queensland – released to market

Queensland – development pipeline

Victoria – released to market

Victoria – development pipeline

Western Australia – released to market

Western Australia – development pipeline

Retirement Living – established villages

Retirement Living – established villages (continued)

Retirement Living – established villages (continued)

Retirement Living – established villages (continued)

Retirement Living – development pipeline

Retirement Living – aged care

Tamworth Homespace

Apartments – released to market

Stockland uK on-balance sheet properties