STOCKLAND - Fund Information / Factsheet 2015

Where we deliver sustainable growth

ProPerty Portfolio 30 June 2015

==> picture [35 x 35] intentionally omitted <==

==> picture [366 x 539] intentionally omitted <==

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

About
Stockland
We have a long and proud history
of creating places that meet the
needs of our customers and
communities.
----- End of picture text -----

Our PrOPerty POrtfOliO

StocklAnd iS onE oF AuStrAliA’S lEAdinG divErSiFiEd ProPErty GrouPS. WE’rE ActivE in rEtAil, loGiSticS And buSinESS PArkS, oFFicE ProPErtiES, rESidEntiAl communitiES And rEtirEmEnt livinG villAGES. thiS PortFolio idEntiFiES All oF our ProPErtiES AcroSS AuStrAliA.

morE inFormAtion on StocklAnd’S ActivitiES And An onlinE vErSion oF thE PortFolio dAtA iS AvAilAblE At www.stOckland.cOm.au

==> picture [66 x 8] intentionally omitted <==

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

Wetherill Park, NSW
----- End of picture text -----

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, logistics and business parks, office properties, 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

==> picture [113 x 113] intentionally omitted <==

residential POrtfOliO

==> picture [113 x 114] intentionally omitted <==

retail (page 9)

42 properties

1,012,532 sqm GlA Stockland’s ownership interests valued at $6.1 billion and gross book value of $6.6* billion

Reflects 100% interest

residential communities (page 47)

63 communities 80,900 lots remaining End-market value approximately $20.7 billion

==> picture [113 x 113] intentionally omitted <==

retirement POrtfOliO

==> picture [113 x 114] intentionally omitted <==

==> picture [114 x 113] intentionally omitted <==

Office (page 39)

logistics & Business Parks (page 27)

10 properties 213,360 sqm nlA[] Stockland’s ownership interests valued at $1.0 billion and gross book value of $1.6* billion * Reflects 100% interest

24 properties

1,242,529 sqm GlA[*]

Stockland’s ownership interests valued at $1.7 billion and gross book value of $1.9 billion

Reflects 100% interest

==> picture [261 x 13] intentionally omitted <==

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

unlisted PrOPerty funds
----- End of picture text -----

==> picture [114 x 114] intentionally omitted <==

retirement living (page 65)

unlisted Property funds (page 79)

69 established villages over 9,300 units development pipeline of over 3,400 units

Funds under management $110.4 million

POrtfOliO

==> picture [113 x 114] intentionally omitted <==

apartments (page 83) Apartments 1 project 51 units

STOCKLAND PROPERTY PORTFOLIO JunE 2015 1

australia Property Portfolio

==> picture [480 x 365] intentionally omitted <==

KEY retail office logistics & business Parks residential communities Apartments retirement living unlisted Property Funds

==> picture [159 x 178] intentionally omitted <==

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

new sOuth wales
sydney
cBd and
north shore
601 Pacific Highway
77 Pacific Highway
110 Walker Street
North Sydney
----- End of picture text -----

==> picture [47 x 8] intentionally omitted <==

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

The Rocks
----- End of picture text -----

135 King Street/Glasshouse Stockland Piccadilly, 133 Castlereagh Street

==> picture [14 x 5] intentionally omitted <==

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

KEY
----- End of picture text -----

retail office

new sOuth wales

Greater sydney

==> picture [368 x 377] intentionally omitted <==

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

Schofields
Elara
Castle Ridge Resort Maybrook Village
Stockland Baulkham Hills
Forrester Distribution Centre
Lourdes Retirement Village
The Willows Retirement Village Macquarie Park,
Parramatta B North Ryde Ryde Chatswood
Stockland Balgowlah/The Village
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
Coopers Paddock, Warwick Farm Sydney
Airport
Bexley Gardens
Willowdale
Baker St, Botany
Ingleburn Distribution Centre
----- End of picture text -----

KEY B retail macquarie technology centre logistics & business Parks 16 Giffnock Avenue residential communities optus centre, macquarie Park retirement living 60–66 Waterloo road triniti business campus

new sOuth wales /act north/south coast canberra and surrounds

==> picture [368 x 377] intentionally omitted <==

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

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
Sydney
Macarthur Gardens Retirement Village
Macquarie Grove Retirement Village
Waratah Highlands Village
Brooks Reach/Illawarra/West Dapto 2 Stockland Corrimal
Stockland Shellharbour
Shellharbour Retail Park
Stockland Nowra
Vincentia Shopping Centre
ACT
D
----- End of picture text -----

==> picture [306 x 71] intentionally omitted <==

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

||||
|---|---|---|
|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|
|unlisted Property Funds|D|lincoln Gardens retirement village|
|40 cameron Avenue, belconnen|bellevue Gardens retirement village|
|ridgecrest village|

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

STOCKLAND PROPERTY PORTFOLIO JunE 2015

==> picture [746 x 462] intentionally omitted <==

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

Queensland Queensland
Greater
Brisbane Gold coast
Caboolture West/Ripeford Vale
Stone Ridge Isles of Newport Bahrs Scrub
Fig Tree Village Ormeau Ridge
G North Lakes Hope Island
Freshwater Highland Reserve
Oxenford
Riverstone Crossing
Pacific Pines Shopping Centre
Export Park
Southport
Farrington Grove Retirement Estate
Hendra Distribution Centre
Surfers Paradise
Benowa Gardens
Waterfront Place
Brisbane
Woolworths Toowong
80-88 Jephson Street,
23 and 27-29 High Street, Toowong
Stockland
Cleveland
Burleigh Central
Stockland Burleigh Heads
Garden Square, Mt Gravatt The Observatory
Greenleaves Retirement Village Burleigh Heads
Salford Waters Retirement Estate
Ipswich Brookbent Road Pine Lake Village
Jimboomba Village Shopping Centre
Sovereign Pocket
Paradise Waters
Augustine Heights
M1 Yatala Enterprise Park
----- End of picture text -----

KEY

retail office logistics & business Parks residential communities retirement living unlisted Property Funds

north lakes north lakes business Park north lakes Enterprise Precinct north lakes retirement resort

KEY

retail

residential communities retirement living unlisted Property Funds

==> picture [842 x 539] intentionally omitted <==

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

Queensland Queensland
sunshine
coast far north
Noosa Heads
Cairns
Stockland Cairns
Townsville
North Shore
Stockland Townsville
Twin Waters West
Maroochydore
Mackay
Brightwater
Kawana Business Village Bokarina Beach
Lake Kawana
Birtinya Island
Stockland Caloundra Rockhampton
Bellcarra Retirement Resort Stockland Rockhampton
Gladstone
Bells Reach
Stockland Gladstone
Caloundra Stockland Bundaberg
Caloundra South Stockland Hervey Bay
KEY KEY
retail retail
residential communities residential communities
retirement living
----- End of picture text -----

STOCKLAND PROPERTY PORTFOLIO JunE 2015

VictOria

Greater melbourne

==> picture [366 x 377] intentionally omitted <==

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

Midlands Terrace
Cloverton
Stockland Wendouree Mernda Retirement Village
Highlands/Craigieburn/
Sunbury 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
Taylors Hill VillageThe Lakes Estate Ivanhoe Stockland The PinesTemplestowe Village
Burnside Village Stockland
Tooronga Donvale Village
Tarneit Skies Retirement Village Brooklyn Estate,
Laverton North Brooklyn Cameron Close Village
Toll Business Park,
The Grove Allura Altona Vermont Village I
Altona Distribution Centre
1090-1124 Centre
The Address
Stockland Point Cook Oak Grange Road, Oakleigh
Geelong Patterson Lakes Village
Selandra Rise Retirement Village
Cranbourne Arbourlea
Long Island Village
Clyde North
Rosebud Village
Stockland Traralgon
Gillin Park Retirement Village
----- End of picture text -----

==> picture [204 x 63] intentionally omitted <==

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

KEY H
retail Arilla village
logistics & business Parks Plenty valley village
residential communities I
retirement living knox village
Salford Park community village
Wantirna village
----- End of picture text -----

==> picture [40 x 15] intentionally omitted <==

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

western
australia
----- End of picture text -----

Perth and surrounds

==> picture [367 x 377] intentionally omitted <==

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

Amberton
Vale
Corimbia Whiteman Edge
Balcatta Distribution Centre
K Perth
Stockland Riverton
Stockland Bull Creek
The Islands Stockland Harrisdale
Calleya Newhaven
Sienna Wood
Brookdale West
L Baldivis
Stockland Baldivis
Halls Head
Village Murray River Village
Leschenault Village
----- End of picture text -----

KEY retail K L office 263 Adelaide terrace baldivis town centre residential communities river Parks village Settlers hills townside Apartments river Pines village Affinity village retirement living 2 victoria Ave logistics & business Parks

sOuth australia adelaide and surrounds

Ridgehaven Rise Seniors’ Living Community Port Adelaide Distribution Centre Horizon at Lightsview The Grange Retirement Estate Adelaide The Villas on Milton Avenue Somerton Park Seniors’ Living Community The Villas at Brighton Salford Retirement Estate Unity Retirement Village Walnut Grove Retirement Estate Hillsview Village Bay Village Retirement Estate

KEY retirement living logistics & business Parks

STOCKLAND PROPERTY PORTFOLIO JunE 2015

retail cOmmercial POrtfOliO

BALDIvIS, WA BaldiviS iS a viBRaNt uRBaN aREa locatEd WithiN oNE of thE StRoNGESt GRoWth coRRidoRS iN WEStERN auStRalia. thE cENtRE SitS WithiN StocklaNd’S SEttlERS hillS RESidENtial commuNity, diREctly oPPoSitE ouR affiNity REtiREmENt liviNG villaGE aNd iS aN ExcEllENt ExamPlE of a StocklaNd maStER PlaNNEd commuNity. REdEvEloPmENt of thE cENtRE WaS comPlEtEd iN mid2015. thE cENtRE iNcludES a full-liNE colES, WoolWoRthS, kmaRt, tWo miNimajoRS aNd 95 SPEcialty StoRES, a 275 SEat iNdooR/ outdooR diNiNG tERRacE, maiN StREEt REStauRaNt PREciNct aNd a total of 1,350 PaRkiNG SPacES.

==> picture [602 x 508] intentionally omitted <==

retail cOmmercial POrtfOliO

retail

Stockland is one of the largest retail property owners, developers and managers in Australia. At 30 June 2015 the portfolio comprises 42 retail centres with Stockland’s ownership interests valued at $6.1 billion and gross book value of $6.6 billion. the properties accommodate more than 3,200 tenants and generate $6.3 billion in retail sales per annum.

==> picture [230 x 304] intentionally omitted <==

==> picture [58 x 7] intentionally omitted <==

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

rockhampton, Qld
----- End of picture text -----

Lease expiry profile %*

==> picture [230 x 124] intentionally omitted <==

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

2 9 11 11 12 55
includes non-comparable development Gla
vacant Fy
16 17 18 19 20+
Geographic split %
47 13 34 6
nSW vic Qld WA
----- End of picture text -----*

STOCKLAND PROPERTY PORTFOLIO JunE 2015

retail cOmmercial POrtfOliO

WETHERILL PARK, NSW WEthERill PaRk iS a SiNGlE lEvEl REGioNal ShoPPiNG cENtRE cuRRENtly uNdER dEvEloPmENt. uPoN comPlEtioN iN fy16, thE additioNal 15,000 Sqm of NEW REtail SPacE Will GRoW thE cENtRE to 70,000 Sqm. thE cENtRE Will fEatuRE tWo SuPERmaRkEtS, tWo ddS, NiNE miNi-majoRS, 200 SPEcialtiES aNd multi lEvEl PaRkiNG foR aPPRoximatEly 2,700 caRS. thE cENtRE Will PRovidE thE commuNity With a NEW ENtERtaiNmENt, diNiNG aNd lEiSuRE PREciNct fEatuRiNG a REfuRBiShEd 12 ScREEN hoytS ciNEma, Gym aNd a GREat RaNGE of diNiNG oPtioNS.

==> picture [602 x 508] intentionally omitted <==

retail cOmmercial POrtfOliO

Retail Portfolio as at 30 June 2015

								Annual sales	Specialty
				Book value	FY15 AIFRS	Funds From	% of Retail	June 2015	occupancy	Specialty
Page	Property	Location	GLA (m2)	($m)	NOI ($m)	Operations ($m)	Portfolio	($m)	costs (%)	sales ($/m2)
12	Stockland Shellharbour	nSW	75,191	688.3	35.7	40.1	11.3	404.4^^	n/A	n/A
12	Shellharbour retail Park	nSW	22,145	51.7	3.9	4.0	0.8	130.5	14.0	2,763
12	Stockland Wetherill Park	nSW	60,685	521.6	23.6	24.3	8.6	233.8^^	n/A	n/A
13	Stockland merrylands	nSW	57,222	505.6	23.6	28.4	8.3	348.8	16.2	8,681
–	Stockland merrylands court	nSW	4,288	10.1	0.5	0.5	0.2	n/A	n/A	n/A
13	Stockland rockhampton	Qld	55,980	404.0	22.2	24.6	6.6	361.0	15.5	9,445
13	Stockland Green hills	nSW	31,822	308.4	19.8	20.2	5.1	330.2	13.8	14,506
14	Stockland Glendale	nSW	55,077	274.2	18.3	18.7	4.5	313.1	14.8	8,647
14	Stockland cairns	Qld	49,532	230.0	14.2	15.3	3.8	246.3	14.4	8,954
14	Stockland townsville#^	Qld	58,995**	226.5	13.6	15.9	3.7	352.9	16.8	8,335
15	Stockland herveybay	Qld	37,774	195.0	8.6	9.3	3.2	160.1^^	n/A	n/A
15	Stockland Point cook	vic	40,365	185.0	12.2	12.9	3.0	192.6	14.9	5,798
15	Stockland baldivis	WA	31,229	172.4	5.1	5.3	2.8	134.2^^	n/A	n/A
16	Stockland burleigh heads	Qld	26,732	163.2	10.0	11.2	2.7	189.6	12.8	9,045
–	Stockland burleigh central	Qld	7,914	17.6	1.3	1.4	0.3	7.4	n/A	n/A
16	Stockland Forster**	nSW	38,854	158.0	10.2	10.6	2.6	216.2	12.4	8,369
16	Stockland the Pines	vic	25,318	156.6	11.7	12.2	2.6	170.6	18.7	7,715
17	Stockland Gladstone	Qld	27,934	148.6	10.5	10.7	2.4	210.7	12.7	13,401
17	Stockland Jesmond	nSW	20,267	144.0	8.9	9.6	2.4	142.3^^	14.4	9,761
17	Stockland Wendouree	vic	25,264	138.3	8.6	9.2	2.3	168.7	13.1	9,030
18	Stockland baulkham hills	nSW	18,061	130.0	8.2	8.9	2.1	144.8	13.9	6,931
18	Stockland balgowlah	nSW	12,929	126.1	7.7	8.6	2.1	137.8	15.2	8,051
18	Stockland caloundra/Stockland South	Qld	22,171	117.0	8.0	8.2	1.9	173.7	10.8	12,432
19	Stockland nowra	nSW	15,972	110.4	7.3	7.6	1.8	146.7	12.2	12,246
19	Stockland bull creek	WA	16,806	101.0	6.4	6.8	1.7	110.5	14.4	9,531
19	Stockland traralgon	vic	19,523	98.8	6.8	7.1	1.6	124.0	14.6	8,085
20	Stockland cleveland	Qld	15,603	94.3	7.0	7.2	1.5	150.1	14.8	8,512
20	Stockland bathurst	nSW	19,378	91.9	6.5	6.7	1.5	107.1	13.1	9,438
20	Stockland corrimal	nSW	9,751	70.1	5.0	5.2	1.2	110.6	13.8	8,856
21	Stockland Wallsend	nSW	12,001	67.0	4.5	4.7	1.1	91.7	12.0	9,971
21	Stockland bundaberg^	Qld	22,796	66.9	3.4	3.4	1.1	178.3	12.2	10,058
21	Stockland riverton^	WA	19,820	64.1	4.6	4.7	1.1	147.1	13.2	7,540
22	Stockland tooronga	vic	8,984	53.5	3.3	3.9	0.9	108.9	14.3	7,525
22	Stockland cammeray	nSW	4,737	37.3	2.3	2.7	0.6	26.3	15.2	8,165
22	Glasshouse - 135 kingStreet,Sydney^	nSW	5,261	35.5	0.4	0.6	0.6	n/A	n/A	n/A
23	Stockland Piccadilly^	nSW	5,324	31.5	1.9	2.1	0.5	26.3	23.0	8,888
23	Stockland highlands	vic	7,766	30.5	1.8	2.0	0.5	41.5	15.6	5,404
23	Stockland north Shore	Qld	5,777	22.0	1.3	1.6	0.4	52.5	5.3	13,181
24	Stockland harrisdale under construction	WA						n/A	n/A	n/A
24	Jimboomba village Shoppingcentre^	Qld	11,162**	13.9	1.5	1.5	0.2	47.4	8.4	7,305
24	Woolworths toowong	Qld	2,275	13.5	0.2	0.2	0.2	n/A	n/A	n/A
25	Stockland vincentia Shoppingcentre	nSW	3,847	12.8	1.1	1.2	0.2	60.2	10.4	6,231
			1,012,532	6,087.2	351.7	379.3	100.0

includes townsville kmart centre

** Excludes adjacent land holdings

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

^^ transitional mat

STOCKLAND PROPERTY PORTFOLIO JunE 2015 11

retail cOmmercial POrtfOliO

==> picture [230 x 123] intentionally omitted <==

Stockland Shellharbour

Shellharbour is located on the south coast of nSW. A $330 million redevelopment was completed in 2013. Shellharbour is the only major regional shopping centre located within the trade area and includes myer, kmart, target, coles, Woolworths, 14 mini-majors and over 230 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. A dA has been submitted for further extensions to the dining precinct.

Location: Shellharbour, NSW

Location: Shellharbour, NSW
acquisition date:	jun 2003
ownership/title:	100%/freehold
cost includingadditions:	$475.7 million

Last independent valuation
date:	dec 2013
valuation:	$679.7 million
valuation $/m2:	$9,040/m²
capitalisation rate:	6.00%
discount rate:	8.75%
carparkingspaces:	3,500
Gross lettable area:	75,191m2
annual sales:	$404.4 million^^
Specialtyoccupancycost:	N/a
Weighted average lease expiry:	10.0years
NaBERS:	4.5(Energy)0.0(Water)
Green Star rating:	4.0(as Built) (Retail v1.0)

Major tenants	GLA(m2)	Lease expiry
myer	11,939	may2038
kmart	6,500	may2032
coles	4,500	may2032
Woolworths	3,870	dec 2032
target	7,171	jul 2025

==> picture [230 x 123] intentionally omitted <==

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:	$41.3 million

Last independent valuation
date:	dec 2014
valuation:	$51.5 million
valuation $/m2:	$2,326/m²
capitalisation rate:	7.75%
discount rate:	9.00%
carparkingspaces:	834
Gross lettable area:	22,145m2
annual sales:	$130.5 million
Specialtyoccupancycost:	14.0%
Weighted average lease expiry:	2.6years
NaBERS:	N/a
Green Star rating:	N/a

Major tenants	GLA(m2)	Lease expiry
Bunnings	7,762	feb 2018
Woolworths	4,370	Nov 2018
dan murphy’s	1,500	Sep2025

==> picture [231 x 123] intentionally omitted <==

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

artist’s impression
----- End of picture text -----

Stockland Wetherill Park

Wetherill Park is a single level regional shopping centre currently under development. upon completion in Fy16, the additional retail space will grow the centre to 70,000 sqm. the centre will feature two supermarkets, two ddS, nine mini-majors, 200 specialties and multi level parking for approximately 2,700 cars. the centre will provide the community with a new entertainment, dining and leisure precinct featuring a refurbished 12 screen hoyts cinema, gym and a great range of dining options.

Location: Western Sydney, NSW

Location: Western Sydney, NSW
acquisition date:	aug1983
ownership/title:	100%/freehold
cost includingadditions:	$268.5 million

Last independent valuation
date:	dec 2011
valuation:	$358.0 million
valuation $/m2:	$5,899/m²
capitalisation rate:	6.75%
discount rate:	9.00%
carparkingspaces:	1,288
Gross lettable area:	60,685m2
annual sales:	$233.8 million^^
Specialtyoccupancycost:	N/a
Weighted average lease expiry:	8.0years
NaBERS:	N/a
Green Star rating:	5.0(design) (Retail v1.0)

Major tenants	GLA(m2)	Lease expiry
BigW	8,097	jun 2025
target	7,020	jul 2018
hoyts	4,613	Nov 2023
Woolworths	4,346	jun 2021

Lease expiry profile %

==> picture [230 x 21] intentionally omitted <==

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

3 6 11 8 7 65
----- End of picture text -----

^^ transitional mat

==> picture [230 x 21] intentionally omitted <==

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

6 12 2 49 24 7
----- End of picture text -----

2 14 4 4 13 63 ^^NB includes vacancies held for developmenttransitional mat

vacant Fy

16 17 18 19 20+

retail cOmmercial POrtfOliO

==> picture [230 x 123] intentionally omitted <==

~~Stockland Merrylands~~

located 21 kilometres west of the Sydney cbd, this centre has serviced the local community for over 40 years. this fully enclosed regional shopping centre now has convenient parking with 3,000 spaces, big W, kmart, target, coles, Woolworths, Aldi, eight minimajors and 205 specialty shops. it is adjacent to our 1.24 hectare merrylands court site where a mixed use development application is being documented.

Location: Merrylands, NSW
acquisition date:		Sep1982
ownership/title:		100%/freehold
cost includingadditions:		$424.7 million

Last independent valuation
date:		dec 2014
valuation:		$506.0 million
valuation $/m2:		$8,843/m²
capitalisation rate:		6.00%
discount rate:		8.50%
carparkingspaces:		3,000
Gross lettable area:		57,222m2
annual sales:		$348.8 million
Specialtyoccupancycost:		16.2%
Weighted average lease expiry:		8.4years
NaBERS:		N/a
Green Star rating:		4.0(design) (Retail v1.0)

Major tenants		GLA(m2)	Lease expiry
BigW		7,900	oct 2032
kmart		7,159	Nov 2023
target		6,088	Nov 2028
coles		4,424	Nov 2031
Woolworths		3,820	oct 2032
Lease expiry profle %
6 7 23	5	59

==> picture [230 x 123] intentionally omitted <==

~~Stockland Rockhampton~~

rockhampton is the largest shopping centre between maroochydore and mackay and includes Woolworths, coles, kmart, big W, 11 minimajors and 168 specialty stores. 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. master planning is currently underway for future stages. the centre has recently commenced construction of a new all-weather indoor and outdoor casual dining precinct incorporating six new food specialty retailers.

Location: Rockhampton, Qld

Location: Rockhampton, Qld
acquisition date:	jun 2003
ownership/title:	100%/freehold
cost includingadditions:	$270.2 million

Last independent valuation
date:	jun 2015
valuation:	$404.0 million
valuation $/m2:	$7,217/m²
capitalisation rate:	6.00%
discount rate:	8.50%
carparkingspaces:	3,015
Gross lettable area:	55,980m2
annual sales:	$361.0 million
Specialtyoccupancycost:	15.5%
Weighted average lease expiry:	5.7years
NaBERS:	3.5(Energy)3.0(Water)
Green Star rating:	N/a

Major tenants	GLA(m2)	Lease expiry
BigW	8,211	Nov 2028
kmart	6,000	aug2024
Woolworths	4,223	aug2020
coles	3,642	aug2024
Birch carroll and coyle cinemas	3,392	dec 2018

==> picture [230 x 21] intentionally omitted <==

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

2 12 10 8 14 54
----- End of picture text -----

==> picture [230 x 123] intentionally omitted <==

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 one in Australia for specialty mAt/ sqm in the Shopping centre news little Guns 2014 Survey. A dA 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 dining, entertainment and leisure precinct and 1,500 additional car parking spaces.

Location: East Maitland, NSW

Location: East Maitland, NSW
acquisition date:	dec 2000
ownership/title:	100%/freehold
cost includingadditions:	$141.4 million

Last independent valuation
date:	jun 2014
valuation:	$307.5 million
valuation $/m2:	$9,663/m²
capitalisation rate:	6.50%
discount rate:	8.75%
carparkingspaces:	1,604
Gross lettable area:	31,822m2
annual sales:	$330.2 million
Specialtyoccupancycost:	13.8%
Weighted average lease expiry:	4.6years
NaBERS:	3.5(Energy)3.0(Water)
Green Star rating:	N/a

Major tenants	GLA(m2)	Lease expiry
BigW	8,024	Sep2022
Woolworths	4,871	Sep2022
coles	3,702	Sep2017

==> picture [230 x 21] intentionally omitted <==

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

23 2 21 1 53
----- End of picture text -----

STOCKLAND PROPERTY PORTFOLIO JunE 2015

retail cOmmercial POrtfOliO

==> picture [230 x 123] intentionally omitted <==

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 complemented by over 2,300 car parking spaces on one single level. A dA has been approved for redevelopment to expand the centre by 7,700 sqm.

Location: Newcastle, NSW

Location: Newcastle, NSW
acquisition date:	mar 1996
ownership/title:	100%/freehold
cost includingadditions:	$99.1 million

Last independent valuation
date:	jun 2014
valuation:	$270.0 million
valuation $/m2:	$4,902/m²
capitalisation rate:	6.50%
discount rate:	8.75%
carparkingspaces:	2,338
Gross lettable area:	55,077m2
annual sales:	$313.1 million
Specialtyoccupancycost:	14.8%
Weighted average lease expiry:	2.4years
NaBERS:	5.5(Energy)3.0(Water)
Green Star rating:	N/a

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

==> picture [230 x 29] intentionally omitted <==

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

Lease expiry profile %
22 43 5 5 25
----- End of picture text -----

==> picture [230 x 123] intentionally omitted <==

Stockland Cairns

located on the main southern arterial road accessing cairns, the centre occupies an 11 hectare site. the centre is comprised of a coles, target, big W, Woolworths and 110 specialty stores. the centre also includes an upgraded council library, a 750-seat food court and six screen cinema.

Location: Cairns, Qld

acquisition date: jun 1992 ownership/title: 100%/freehold cost including additions: $177.5 million

Last independent valuation

Last independent valuation
date:	jun 2015
valuation:	$230.0 million
valuation $/m2:	$4,643/m²
capitalisation rate:	6.25%
discount rate:	8.50%
carparkingspaces:	2,381
Gross lettable area:	49,532m2
annual sales:	$246.3 million
Specialtyoccupancycost:	14.4%
Weighted average lease expiry:	4.2years
NaBERS:	4.5(Energy)4.0(Water)
Green Star rating:	N/a

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

==> picture [230 x 21] intentionally omitted <==

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

5 26 17 4 4 44
----- End of picture text -----

==> picture [231 x 123] intentionally omitted <==

Stockland Townsville

the centre is located in the geographical heart of townsville and houses the region’s only full-line myer department store. A 20,000 sqm expansion was successfully completed in Fy15 and big W completed a full refurbishment in June 2015. the centre also includes Woolworths, four mini-majors, a 750-seat dining terrace and 180 specialty stores. there is additional land to the east for future development. A first stage dA for the creation of an entertainment and lifestyle precinct was approved in may 2014. the retail precinct includes the townsville kmart centre.

Location: Townsville, Qld

Location: Townsville, Qld
acquisition date:	jun 1987/mar 2012
ownership/title:	50%/freehold
cost includingadditions:	$167.2 million

Last independent valuation
date:	jun 2015
valuation:	$226.5 million
valuation $/m2:	$7,678/m²^
capitalisation rate:	6.00%-7.00%
discount rate:	8.25%-8.50%
carparkingspaces:	2,896
Gross lettable area:	58,995m2**
annual sales:	$352.9 million
Specialtyoccupancycost:	16.8%
Weighted average lease expiry:	12.0years
NaBERS:	3.5(Energy)
Green Star rating:	4.0(as Built) (Retail	v1.0)

Major tenants	GLA(m2)	Lease expiry
myer	12,023	oct 2037
BigW	6,987	jun 2034
Woolworths	4,200	dec 2031
kmart	7,416	Sep2021
coles	3,377	jul 2018

==> picture [231 x 21] intentionally omitted <==

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

2 5 3 12 11 67
----- End of picture text -----

** includes the townsville kmart centre ^ 100% interest

vacant Fy

16 17 18 19 20+

retail cOmmercial POrtfOliO

==> picture [230 x 123] intentionally omitted <==

~~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, kmart, coles, Supa iGA, Spotlight and 104 specialty stores. A 20,000 sqm expansion was successfully opened in Fy15. A second stage dA has been approved to add another supermarket, an entertainment leisure precinct and associated specialties. the centre is the largest between rockhampton and maroochydore.

Location: Hervey Bay, Qld

Location: Hervey Bay, Qld
acquisition date:	apr 2011
ownership/title:	100%/freehold
cost includingadditions:	$184.6 million

Last independent valuation
date:	jun 2015
valuation:	$195.0 million
valuation $/m2:	$5,162/m²
capitalisation rate:	6.25%
discount rate:	8.25%
carparkingspaces:	1,682
Gross lettable area:	37,774m2
annual sales:	$160.1 million^^
Specialtyoccupancycost:	N/a
Weighted average lease expiry:	8.7years
NaBERS:	N/a
Green Star rating:	4.0(as Built) (Retail v1.0)

Major tenants	GLA(m2)	Lease expiry
target	5,592	jan 2016
kmart	5,598	jul 2034
coles	4,000	jul 2034
Supa iGa	2,349	mar 2020

==> picture [230 x 123] intentionally omitted <==

~~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, coles, Aldi, dan murphy, rebel Sport, ten mini-majors, 119 specialty stores and 19 commercial suites. the centre is located in one of melbourne’s fastest growing population corridors. the centre will grow to 43,650 sqm on completion of the new 4,000 sqm Woolworths, specialties and a new kFc pad site.

Location: Point Cook, vic

acquisition date: jun 2011 ownership/title: 100%/freehold cost including additions: $192.4 million

Last independent valuation

date: dec 2013 valuation: $183.5 million valuation $/m[2] : $4,546/m² capitalisation rate: 7.25% discount rate: 9.00% car parking spaces: 1,729 Gross lettable area: 40,365m[2] annual sales: $192.6 million Specialty occupancy cost: 14.9% Weighted average lease expiry: 5.7 years NaBERS: N/a Green Star rating: N/a

Major tenants GLA (m[2] ) Lease expiry target 6,500 aug 2028 coles 4,008 aug 2028 aldi 1,300 aug 2018 Woolworths 4,000 aug 2035

==> picture [230 x 123] intentionally omitted <==

Stockland Baldivis

baldivis is a vibrant urban area located within one of the strongest growth corridors in Western Australia. the centre sits within Settlers hills residential community, directly opposite Affinity village and is an excellent example of a Stockland master planned community. redevelopment of the centre was completed in mid-2015. the centre includes a full-line coles, Woolworths, kmart, two mini-majors and 95 specialty stores, a 275 seat indoor/outdoor dining terrace, main street restaurant precinct and a total of 1,350 parking spaces.

Location: Baldivis, WA

Location: Baldivis, WA
acquisition date:	aug2006
ownership/title:	100%/freehold
cost includingadditions:	$130.4 million

Last independent valuation
date:	jun 2011
valuation:	$45.4 million#
valuation $/m2:	$6,581/m²#
capitalisation rate:	7.50%
discount rate:	9.50%
carparkingspaces:	1,350
Gross lettable area:	31,229m2
annual sales:	$134.2 million^^
Specialtyoccupancycost:	N/a
Weighted average lease expiry:	12.8years
NaBERS:	N/a
Green Star rating:	4.0(design) (Retail v1.0)

Major tenants	GLA(m2)	Lease expiry
Woolworths	4,097	may2035
coles	3,205	may2027
kmart	5,937	mar 2035

Lease expiry profile %

8 13 2 86

NB includes vacancies held for development

^^ transitional mat

6 12 11 6 21 44 NB includes vacancies held for development

3 15 1 90

NB includes vacancies held for development

^^ transitional mat

Pre development valuation

STOCKLAND PROPERTY PORTFOLIO JunE 2015

retail cOmmercial POrtfOliO

==> picture [230 x 123] intentionally omitted <==

~~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, Woolworths and Aldi. the centre also includes best & less, the reject Shop, 105 specialty stores and a 400-seat food court.

Location: Burleigh Heads, Qld

Location: Burleigh Heads, Qld
acquisition date:	aug2003
ownership/title:	100%/freehold
cost includingadditions:	$126.2 million

Last independent valuation
date:	dec 2014
valuation:	$162.0 million
valuation $/m2:	$6,060/m²
capitalisation rate:	7.00%
discount rate:	8.75%
carparkingspaces:	1,455
Gross lettable area:	26,732m2
annual sales:	$189.6 million
Specialtyoccupancycost:	12.8%
Weighted average lease expiry:	6.3years
NaBERS:	3.5(Energy)5.0(Water)
Green Star rating:	N/a

Major tenants	GLA(m2)	Lease expiry
BigW	6,673	mar 2025
Woolworths	4,356	apr 2026
aldi	1,745	apr 2024

==> picture [242 x 134] intentionally omitted <==

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

Stockland Forster
----- End of picture text -----

Forster is located on the mid-north coast of nSW and includes a coles, Woolworths, Aldi, kmart and target country. the centre has 69 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 bunnings Warehouse.

Location: Forster, NSW

Location: Forster, NSW
acquisition date:	jul 2003/may2010
ownership/title:	100%/freehold
cost includingadditions:	$116.4 million

Last independent valuation
date:	jun 2015
valuation:	$158.0 million
valuation $/m2:	$4,067/m²
capitalisation rate:	6.75%
discount rate:	8.75%
carparkingspaces:	1,435
Gross lettable area:	38,854m2
annual sales:	$216.2 million
Specialtyoccupancycost:	12.4%
Weighted average lease expiry:	3.6years
NaBERS:	6.0(Energy)4.5(Water)
Green Star rating:	N/a

Major tenants	GLA(m2)	Lease expiry
Bunnings	8,310	mar 2019
kmart	5,838	jan 2020
coles	4,083	jan 2020
Woolworths	3,800	Nov 2020
target	1,487	Nov 2016

==> picture [231 x 123] intentionally omitted <==

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

Location: Doncaster East, vic
acquisition date:	Nov 2004
ownership/title:	100%/freehold
cost includingadditions:	$134.5 million

Last independent valuation
date:	dec 2014
valuation:	$156.0 million
valuation $/m2:	$6,162/m²
capitalisation rate:	7.00%
discount rate:	8.75%
carparkingspaces:	1,440
Gross lettable area:	25,318m2
annual sales:	$170.6 million
Specialtyoccupancycost:	18.7%
Weighted average lease expiry:	5.9years
NaBERS:	N/a
Green Star rating:	N/a

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

Lease expiry profile %

==> picture [230 x 21] intentionally omitted <==

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

3 9 8 6 10 64
----- End of picture text -----

==> picture [230 x 21] intentionally omitted <==

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

14 18 8 24 45
----- End of picture text -----

==> picture [231 x 21] intentionally omitted <==

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

3 7 8 7 5 70
----- End of picture text -----

includes vacancies held for remix

vacant Fy

16 17 18 19 20+

retail cOmmercial POrtfOliO

==> picture [230 x 123] intentionally omitted <==

Stockland Gladstone

Stockland Jesmond

Gladstone is located on the dawson highway and is the only major shopping centre in the region. the centre was ranked 6th in the little Guns 2014 Survey for Specialty mAt per sqm. the property comprises coles, Woolworths, kmart, big W, target and 52 specialty stores. over 3.2 hectares of rezoned land borders the property, with a dA to add 17,000 sqm.

located in the suburb of Jesmond, newcastle, the centre is constructed on five hectares and anchored by Woolworths and big W as well as 73 specialty stores. A brand new fast casual dining precinct also opened in march 2015 together with a new Aldi and medical precinct. 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.

Location: Gladstone, Qld

Location: Newcastle, NSW

Location: Gladstone, Qld
acquisition date:	oct 2000
ownership/title:	100%/freehold
cost includingadditions:	$82.0 million

Last independent valuation
date:	dec 2014
valuation:	$147.5 million
valuation $/m2:	$5,280/m²
capitalisation rate:	7.00%
discount rate:	8.75%
carparkingspaces:	1,363
Gross lettable area:	27,934m2
annual sales:	$210.7 million
Specialtyoccupancycost:	12.7%
Weighted average lease expiry:	1.9years
NaBERS:	4.0(Energy)
Green Star rating:	N/a

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


acquisition date:		oct 2000				acquisition date:			feb 1984
ownership/title:		100%/freehold				ownership/title:			100%/freehold
cost includingadditions:		$82.0 million				cost including	additions:		$58.7 million

Last independent valuation						Last independent valuation
date:		dec 2014				date:			jun 2015
valuation:		$147.5 million				valuation:			$144.0 million
valuation $/m2:		$5,280/m²				valuation $/m2:			$7,105/m²
capitalisation rate:		7.00%				capitalisation rate:			7.00%
discount rate:		8.75%				discount rate:			8.75%
carparkingspaces:		1,363				carparkingspaces:			948
Gross	lettable area:	27,934m2				Gross lettable area:			20,267m2
annual sales:		$210.7 million				annual sales:			$142.3 million
Specialtyoccupancycost:		12.7%				Specialtyoccupancycost:			14.4%
Weighted average lease expiry:		1.9years				Weighted average lease expiry:			10.5years
NaBERS:		4.0(Energy)				NaBERS:			4.5(Energy)3.0(Water)
Green Star rating:		N/a				Green Star rating:			N/a

Major tenants		GLA(m2)	Lease expiry			Major tenants			GLA(m2)	Lease expiry
kmart		6,687	Sep2017			BigW			7,944	jun 2029
BigW		6,828	aug2016			Woolworths			3,053	jun 2035
Woolworths		3,264	aug2016			aldi			1,511	jun 2025
coles		2,995	Sep2017
target		1,481	Sep2017
Lease expiry profle %
7	38	46		3	6	7 5 5	6	77

==> picture [230 x 123] intentionally omitted <==

Stockland Wendouree

located in the historic city of ballarat, 110 kilometres west of melbourne, this sub-regional shopping centre includes kmart, coles, Safeway and 82 specialty stores. the centre also includes a fully equipped parents’ room and the regional library. Additional land surrounding Wendouree allows for future development. A dA has been approved for future expansion.

Location: Wendouree, vic

Location: Wendouree, vic
acquisition date:	jun 2003
ownership/title:	100%/freehold
cost includingadditions:	$75.4 million

Last independent valuation
date:	dec 2014
valuation:	$136.3 million
valuation $/m2:	$5,395/m²
capitalisation rate:	7.00%
discount rate:	9.00%
carparkingspaces:	1,190
Gross lettable area:	25,264m2
annual sales:	$168.7 million
Specialtyoccupancycost:	13.1%
Weighted average lease expiry:	7.9years
NaBERS:	4.0(Energy)4.0(Water)
Green Star rating:	N/a

Major tenants	GLA(m2)	Lease expiry
kmart	7,831	oct 2028
coles	3,252	aug2022
Safeway	3,463	Nov 2020

==> picture [230 x 21] intentionally omitted <==

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

15 7 4 7 76
----- End of picture text -----

STOCKLAND PROPERTY PORTFOLIO JunE 2015 17

retail cOmmercial POrtfOliO

==> picture [230 x 123] intentionally omitted <==

~~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 80 specialty stores and services, 850 car parking spaces, an outdoor children’s play area and a fully equipped parents’ room. A dA has been approved for a new fast casual dining offer.

Location: Baulkham Hills, NSW

Location: Baulkham Hills, NSW
acquisition date:	Sep1982
ownership/title:	100%/freehold
cost includingadditions:	$90.2 million

Last independent valuation
date:	jun 2015
valuation:	$130.0 million
valuation $/m2:	$7,198/m²
capitalisation rate:	6.75%
discount rate:	8.50%
carparkingspaces:	850
Gross lettable area:	18,061m2
annual sales:	$144.8 million
Specialtyoccupancycost:	13.9%
Weighted average lease expiry:	6.5years
NaBERS:	3.5(Energy)0.0(Water)
Green Star rating:	N/a

Major tenants	GLA(m2)	Lease expiry
Woolworths	3,855	jul 2027
coles	3,034	jun 2027
aldi	1,429	dec 2016

==> picture [230 x 123] intentionally omitted <==

~~Stockland Balgowlah~~

located in the northern suburbs of Sydney, the centre occupies 13,000 sqm of ‘the village’, a mixed-use development with 240 residential apartments. included in the centre is a coles supermarket, Platinum Fitness First and 60 specialty stores, including a quality fresh food market, a fashion precinct and 720 retail car parking spaces. the second level is an open air plaza with a number of restaurant and service offerings. recent remixing has added high fashion apparel to the centre.

Location: Balgowlah, NSW
acquisition date:	jun 2009/Nov 2009
ownership/title:	100%/freehold
cost includingadditions:	$132.2 million

Last independent valuation
date:	dec 2014
valuation:	$125.5 million
valuation $/m2:	$9,707/m²
capitalisation rate:	6.75%
discount rate:	8.75%
carparkingspaces:	720
Gross lettable area:	12,929m2
annual sales:	$137.8 million
Specialtyoccupancycost:	15.2%
Weighted average lease expiry:	7.6years
NaBERS:	N/a
Green Star rating:	N/a

Major tenants	GLA(m2)	Lease expiry
coles	4,443	jun 2029

==> picture [231 x 123] intentionally omitted <==

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. dA’s have been approved 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:	$80.5 million

Last independent valuation
date:	dec 2014
valuation:	$116.5 million
valuation $/m2:	$5,255/m²
capitalisation rate:	7.00%
discount rate:	8.75%
carparkingspaces:	1,141
Gross lettable area:	22,171m2
annual sales:	$173.7 million
Specialtyoccupancycost:	10.8%
Weighted average lease expiry:	5.3years
NaBERS:	4.5(Energy)5.0(Water)
Green Star rating:	N/a

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

Lease expiry profile %

==> picture [230 x 21] intentionally omitted <==

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

16 15 18 5 55
----- End of picture text -----

==> picture [230 x 21] intentionally omitted <==

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

10 6 8 8 68
----- End of picture text -----

==> picture [231 x 28] intentionally omitted <==

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

1 12 3 36 4 44
Excludes caloundra South
----- End of picture text -----*

vacant Fy

16 17 18 19 20+

retail cOmmercial POrtfOliO

==> picture [230 x 123] intentionally omitted <==

~~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 48 specialty stores. the centre has six hectares of zoned land adjacent to the site with development approval for an additional 30,000 sqm of GlA.

Location: Nowra, NSW

acquisition date: jun 2003 ownership/title: 100%/freehold cost including additions: $68.5 million Last independent valuation date: jun 2015 valuation: $110.4 million valuation $/m[2] : $6,912/m² capitalisation rate: 6.75% discount rate: 8.50% car parking spaces: 821 Gross lettable area: 15,972m[2] annual sales: $146.7 million Specialty occupancy cost: 12.2% Weighted average lease expiry: 7.4 years NaBERS: 4.5 (Energy) 4.5 (Water) Green Star rating: N/a

Major tenants GLA (m[2] ) Lease expiry kmart 7,190 Nov 2018 Woolworths 4,230 july 2035

==> picture [230 x 123] intentionally omitted <==

~~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 46 specialty stores. the centre is positioned as a convenience and value destination in this dense trade area. Woolworths have executed a new 20 year lease and a full refit of the store is in progress.

Location: Bull Creek, WA

Location: Bull Creek, WA
acquisition date:	jun 2003
ownership/title:	100%/freehold
cost includingadditions:	$62.7 million

Last independent valuation
date:	dec 2014
valuation:	$100.0 million
valuation $/m2:	$5,950/m²
capitalisation rate:	6.75%
discount rate:	8.50%
carparkingspaces:	893
Gross lettable area:	16,806m2
annual sales:	$110.5 million
Specialtyoccupancycost:	14.4%
Weighted average lease expiry:	6.4years
NaBERS:	4.5(Energy)
Green Star rating:	N/a

Major tenants GLA (m[2] ) Lease expiry target 8,131 jul 2018 Woolworths 3,426 may 2035

==> picture [230 x 123] intentionally omitted <==

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

Location: Traralgon, vic
acquisition date:	jun 2003
ownership/title:	100%/freehold
cost includingadditions:	$52.1 million

Last independent valuation
date:	dec 2014
valuation:	$98.2 million
valuation $/m2:	$5,030/m²
capitalisation rate:	7.00%
discount rate:	8.75%
carparkingspaces:	754
Gross lettable area:	19,523m2
annual sales:	$124.0 million
Specialtyoccupancycost:	14.6%
Weighted average lease expiry:	2.9years
NaBERS:	4.0(Energy)4.0(Water)
Green Star rating:	N/a

Major tenants	GLA(m2)	Lease expiry
kmart	8,107	Nov 2018
coles	4,737	Nov 2018

Lease expiry profile %

==> picture [230 x 21] intentionally omitted <==

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

1 8 7 5 47 32
----- End of picture text -----

==> picture [230 x 21] intentionally omitted <==

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

6 2 13 53 26
----- End of picture text -----

==> picture [230 x 21] intentionally omitted <==

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

8 12 7 70 3
----- End of picture text -----

STOCKLAND PROPERTY PORTFOLIO JunE 2015 19

retail cOmmercial POrtfOliO

==> picture [230 x 123] intentionally omitted <==

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:	$77.4 million

Last independent valuation
date:	dec 2014
valuation:	$93.7 million
valuation $/m2:	$6,005/m²
capitalisation rate:	7.00%
discount rate:	8.75%
carparkingspaces:	780
Gross lettable area:	15,603m2
annual sales:	$150.1 million
Specialtyoccupancycost:	14.8%
Weighted average lease expiry:	3.4years
NaBERS:	N/a
Green Star rating:	N/a

Major tenants	GLA(m2)	Lease expiry
Woolworths	4,031	aug2019
coles	3,536	oct 2017

==> picture [230 x 123] intentionally omitted <==

Stockland Bathurst

located in the bathurst cbd and is a single level sub regional shopping centre. the centre includes target, big W, Woolworths and 38 specialty stores. new leases have been executed with big W and Woolworths. Woolworths has completed a new fitout and big W’s new fitout is underway.

Location: Bathurst, NSW

Location: Bathurst, NSW
acquisition date:	jun 2003
ownership/title:	100%/freehold
cost includingadditions:	$65.8 million

Last independent valuation
date:	dec 2014
valuation:	$88.6 million
valuation $/m2:	$4,572/m²
capitalisation rate:	7.25%
discount rate:	8.75%
carparkingspaces:	525
Gross lettable area:	19,378m2
annual sales:	$107.1 million
Specialtyoccupancycost:	13.1%
Weighted average lease expiry:	6.5years
NaBERS:	3.5(Energy)3.0(Water)
Green Star rating:	N/a

Major tenants	GLA(m2)	Lease expiry
BigW	6,150	jun 2034
target	5,973	Nov 2019
Woolworths	2,940	Nov 2034

==> picture [231 x 123] intentionally omitted <==

Stockland Corrimal

located seven kilometres north of Wollongong, corrimal is a neighbourhood centre anchored by a large full range Woolworths, a full range dan murphy and 38 specialty stores.

Location: Corrimal, NSW

Location: Corrimal, NSW
acquisition date:	jun 2003
ownership/title:	100%/freehold
cost includingadditions:	$44.8 million

Last independent valuation
date:	dec 2014
valuation:	$69.5 million
valuation $/m2:	$7,127/m²
capitalisation rate:	7.25%
discount rate:	8.75%
carparkingspaces:	524
Gross lettable area:	9,751m2
annual sales:	$110.6 million
Specialtyoccupancycost:	13.8%
Weighted average lease expiry:	8.4years
NaBERS:	N/a
Green Star rating:	N/a

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

Lease expiry profile %

==> picture [230 x 21] intentionally omitted <==

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

3 8 7 28 4 50
----- End of picture text -----

==> picture [230 x 21] intentionally omitted <==

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

15 2 5 2 85
----- End of picture text -----

==> picture [231 x 21] intentionally omitted <==

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

2 7 5 10 6 70
----- End of picture text -----

vacant Fy 16 17 18 19 20+

retail cOmmercial POrtfOliO

==> picture [230 x 123] intentionally omitted <==

~~Stockland Wallsend~~

Wallsend is located ten kilometres north-west of the newcastle cbd. the centre has a GlA of over 12,000 sqm and provides the Wallsend community with coles, Aldi, 43 specialty stores and an extensive range of services including rtA, Australia Post and a range of major banks. A new mcdonalds full-line family restaurant opened in december 2014.

Location: Wallsend, NSW

Location: Wallsend, NSW
acquisition date:	Sep2007
ownership/title:	100%/freehold
cost includingadditions:	$67.7 million

Last independent valuation
date:	jun 2015
valuation:	$67.0 million
valuation $/m2:	$5,583/m²
capitalisation rate:	7.25%
discount rate:	8.50%
carparkingspaces:	1,316
Gross lettable area:	12,001m2
annual sales:	$91.7 million
Specialtyoccupancycost:	12.0%
Weighted average lease expiry:	4.2years
NaBERS:	N/a
Green Star rating:	N/a

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

==> picture [230 x 123] intentionally omitted <==

~~Stockland Bundaberg~~

Stockland purchased 50% of this centre from AmP in october 2014. With 23,000 sqm of GlA, the centre is anchored by Woolworths, big W, Jb hi-Fi, best & less and 63 specialty stores. A put and call option for the other 50% of the centre has been executed.

Location: Bundaberg, Qld
acquisition date:	oct 2014
ownership/title:	50%/freehold
cost includingadditions:	$59.7 million

Last independent valuation
date:	jun 2015
valuation:	$66.9 million
valuation $/m2:	$5,870/m²^
capitalisation rate:	6.75%
discount rate:	8.50%
carparkingspaces:	585
Gross lettable area:	22,796m2
annual sales:	$178.3 million
Specialtyoccupancycost:	12.2%
Weighted average lease expiry:	9.7years
NaBERS:	4.0(Energy)
Green Star rating:	N/a

Major tenants	GLA(m2)	Lease expiry
BigW	8,173	Sep2036
Woolworths	4,184	Sep2018

==> picture [230 x 123] intentionally omitted <==

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, two mini-majors, over 60 specialty stores and five pad sites, including an alfresco dining area and fully equipped parents’ room.

Location: Riverton, WA

Location: Riverton, WA
acquisition date:	aug2006
ownership/title:	50%/freehold
cost includingadditions:	$27.3 million

Last independent valuation
date:	dec 2014
valuation:	$64.0 million
valuation $/m2:	$6,458/m²^
capitalisation rate:	6.75%
discount rate:	8.75%
carparkingspaces:	1,193
Gross lettable area:	19,820m2
annual sales:	$147.1 million
Specialtyoccupancycost:	13.2%
Weighted average lease expiry:	2.0years
NaBERS:	4.0(Energy)
Green Star rating:	N/a

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

Lease expiry profile %

==> picture [58 x 5] intentionally omitted <==

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

7 9 2 49
----- End of picture text -----

==> picture [7 x 5] intentionally omitted <==

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

33
----- End of picture text -----

==> picture [230 x 28] intentionally omitted <==

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

1 12 9 3 25 50
^ 100% interest
----- End of picture text -----

==> picture [49 x 13] intentionally omitted <==

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

1 11 66
^ 100% interest
----- End of picture text -----

4 1 17

STOCKLAND PROPERTY PORTFOLIO JunE 2015

retail cOmmercial POrtfOliO

==> picture [230 x 123] intentionally omitted <==

Stockland Tooronga

tooronga is 12 kilometres south-east of the melbourne cbd. the centre provides a coles supermarket, 1st choice liquor and 30 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:	$47.9 million

Last independent valuation
date:	dec 2014
valuation:	$53.4 million
valuation $/m2:	$5,944/m²
capitalisation rate:	6.75%
discount rate:	8.75%
carparkingspaces:	488
Gross lettable area:	8,984m2
annual sales:	$108.9 million
Specialtyoccupancycost:	14.3%
Weighted average lease expiry:	7.8years
NaBERS:	N/a
Green Star rating:	N/a

Major tenants	GLA(m2)	Lease expiry
coles	4,122	aug2025

==> picture [242 x 134] intentionally omitted <==

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

Stockland Cammeray
----- End of picture text -----

cammeray is a 4,700 sqm lifestyle 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 850 sqm of commercial suites.

Location: Cammeray, NSW
acquisition date:	dec 2008
ownership/title:	100%/Stratum
cost includingadditions:	$57.0 million

Last independent valuation
date:	dec 2014
valuation:	$37.0 million
valuation $/m2:	$7,811/m²
capitalisation rate:	6.75%
discount rate:	8.75%
carparkingspaces:	80
Gross lettable area:	4,737m2
annual sales:	$26.3 million
Specialtyoccupancycost:	15.2%
Weighted average lease expiry:	8.5years
NaBERS:	N/a
Green Star rating:	N/a

Major tenants	GLA(m2)	Lease expiry
harris farm markets	711	oct 2023

==> picture [231 x 123] intentionally omitted <==

Glasshouse - 135 King Street, Sydney

Glasshouse is strategically located in the heart of Sydney cbd. it is currently under development and due for completion in 2015. the centre will accommodate an international flagship h&m and another major international retailer.

Location: Sydney CBD, NSW

Location: Sydney CBD, NSW
acquisition date:	jun 2003
ownership/title:	50%/freehold
cost includingadditions:	$24.8 million

Last independent valuation
date:	dec 2014
valuation:	$35.8 million
valuation $/m2:	$19,184/m²
capitalisation rate:	5.75%
discount rate:	8.50%
carparkingspaces:	N/a
Gross lettable area:	5,261m2
annual sales:	N/a
Specialtyoccupancycost:	N/a
Weighted average lease expiry:	14.8years
NaBERS:	N/a
Green Star rating:	N/a

Major tenants	GLA(m2)	Lease expiry
h&m	4,606	dec 2030
major international retailer	655	Nov 2025

Lease expiry profile %

==> picture [230 x 21] intentionally omitted <==

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

13 8 8 4 76
----- End of picture text -----

==> picture [230 x 21] intentionally omitted <==

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

5 5 2 9 79
----- End of picture text -----

100 ^ 100% interest

vacant Fy

16 17 18 19 20+

retail cOmmercial POrtfOliO

==> picture [230 x 123] intentionally omitted <==

~~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.

Location: Sydney CBD, NSW

Location: Sydney CBD, NSW
acquisition date:	oct 2000
ownership/title:	50%/leasehold
cost includingadditions:	$20.7 million

Last independent valuation
date:	dec 2014
valuation:	$29.5 million
valuation $/m2:	$11,082/m²^
capitalisation rate:	6.75%
discount rate:	9.00%
carparkingspaces:	N/a
Gross lettable area:	5,324m2
annual sales:	$26.3 million
Specialtyoccupancycost:	23.0%
Weighted average lease expiry:	6.1years
NaBERS:	N/a
Green Star rating:	N/a

Major tenants	GLA(m2)	Lease expiry
N/a

==> picture [230 x 123] intentionally omitted <==

~~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 plus 17 specialties including a medical centre. A new full-line mcdonalds family restaurant opened in december 2014, and a Woolworths petrol station will open in 2016.

Location: Craigieburn, vic acquisition date: Nov 2011 ownership/title: 100%/freehold cost including additions: $29.1 million Last independent valuation date: jun 2015 valuation: $30.5 million valuation $/m[2] : $3,927/m² capitalisation rate: 7.00% discount rate: 8.25% car parking spaces: 330 Gross lettable area: 7,766m[2] annual sales: $41.5 million Specialty occupancy cost: 15.6% Weighted average lease expiry: 10.7 years NaBERS: N/a Green Star rating: 4.0 (as Built) (Retail v1.0) Major tenants GLA (m[2] ) Lease expiry Woolworths 3,946 Nov 2031

==> picture [230 x 123] intentionally omitted <==

Stockland North Shore

A convenient neighbourhood centre located within the Stockland north Shore residential community in townsville, Qld. the centre includes a new Woolworths and 15 specialty stores. A dA has been approved to expand the centre to 20,000 sqm. this expansion will incorporate a discount department store, 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:	$20.5 million

Last independent valuation
date:	jun 2015
valuation:	$22.0 million
valuation $/m2:	$3,808/m²
capitalisation rate:	7.00%
discount rate:	8.25%
carparkingspaces:	250
Gross lettable area:	5,777m2
annual sales:	$52.5 million
Specialtyoccupancycost:	5.3%
Weighted average lease expiry:	4.4years
NaBERS:	N/a
Green Star rating:	4.0(as Built) (Retail	v1.0)

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

Lease expiry profile %

==> picture [230 x 21] intentionally omitted <==

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

5 5 7 4 79
----- End of picture text -----

==> picture [230 x 21] intentionally omitted <==

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

5 18 77
----- End of picture text -----

==> picture [230 x 21] intentionally omitted <==

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

3 18 1 11 67
----- End of picture text -----

^ 100% interest

STOCKLAND PROPERTY PORTFOLIO JunE 2015

retail cOmmercial POrtfOliO

==> picture [230 x 123] intentionally omitted <==

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

artist’s impression
----- End of picture text -----

Stockland Harrisdale

harrisdale is a new c.12,200 square metre shopping centre, currently under construction and due to open mid-2016. it is located within the Stockland newhaven residential community, 20 kilometres south-east of the Perth cbd. Stockland harrisdale will form the core of newhaven – Stockland’s award-winning residential community in Piara Waters. the site is well located to draw customers from surrounding suburbs with direct exposure to nicholson road, the area’s main north-South arterial link. Stockland harrisdale will be anchored by Woolworths and Aldi.

Location: Newhaven, WA
acquisition date:	feb 2007
ownership/title:	100%/freehold
cost includingadditions:	N/a

Last independent valuation
date:
valuation:
valuation $/m2:
capitalisation rate:
discount rate:
carparkingspaces:	N/a
Gross lettable area:
annual sales:	N/a
Specialtyoccupancycost:	N/a
Weighted average lease expiry:	N/a
NaBERS:
Green Star rating:

Major tenants GLA (m[2] ) Lease expiry Woolworths 4,200 jun 2036 aldi 1,512 jun 2026

Lease expiry profile %

==> picture [230 x 123] intentionally omitted <==

==> picture [231 x 123] intentionally omitted <==

~~Jimboomba village Shopping Centre~~

Woolworths Toowong

Woolworths toowong is a freestanding supermarket located opposite toowong village Shopping centre. this property and the adjoining data3 office tower plus high Street shops is held for its long term development potential. the site will best suit a medium-term mixed-use development.

located 40 kilometres south of brisbane in one of the fastest population growth corridors. Stockland owns 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 22,000 sqm 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:	$26.2 million

Last independent valuation
date:	jun 2015
valuation:	$13.9 million
valuation $/m2:	$2,490/m²^
capitalisation rate:	8.00%
discount rate:	9.50%
carparkingspaces:	504
Gross lettable area:	11,162m2**
annual sales:	$47.4 million
Specialtyoccupancycost:	8.4%
Weighted average lease expiry:	3.7years
NaBERS:	N/a
Green Star rating:	N/a

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

Location: Toowong, Qld

Location: Toowong, Qld
acquisition date:	oct 2000
ownership/title:	100%/freehold
cost includingadditions:	$5.2 million

Last independent valuation
date:	dec 2010
valuation:	$13.3 million
valuation $/m2:	$5,846/m²
capitalisation rate:	N/a
discount rate:	N/a
carparkingspaces:	130
Gross lettable area:	2,275m2
annual sales:	N/a
Specialtyoccupancycost:	N/a
Weighted average lease expiry:	0.1years
NaBERS:	N/a
Green Star rating:	N/a

Major tenants	GLA(m2)	Lease expiry
Woolworths	2,275	monthlytenancy

==> picture [479 x 21] intentionally omitted <==

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

2 6 14 49 7 22 100
----- End of picture text -----

^ 100% interest ** Gla includes vacancies held for development.

vacant Fy 16 17 18 19 20+

retail cOmmercial POrtfOliO

==> picture [230 x 123] intentionally omitted <==

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 21 specialty stores.

Location: vincentia, NSW
acquisition date:	jan 2007
ownership/title:	100%/freehold
cost includingadditions:	$15.9 million

Last independent valuation
date:	dec 2014
valuation:	$12.6 million
valuation $/m2:	$3,275/m²
capitalisation rate:	8.00%
discount rate:	8.75%
carparkingspaces:	198
Gross lettable area:	3,847m2
annual sales:	$60.2 million
Specialtyoccupancycost:	10.4%
Weighted average lease expiry:	3.2years
NaBERS:	N/a
Green Star rating:	N/a

Major tenants	GLA(m2)	Lease expiry
coles	1,973	mar 2019

Lease expiry profile %

==> picture [230 x 21] intentionally omitted <==

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

4 10 6 13 55 12
----- End of picture text -----

STOCKLAND PROPERTY PORTFOLIO JunE 2015 25

lOGistics & Business Parks cOmmercial POrtfOliO

CHERRY LANE, vIC a laRGE SiNGlE tENaNtEd iNduStRial facility locatEd iN mElBouRNE’S WEStERN iNduStRial PREciNct, 18 kilomEtRES WESt of thE mElBouRNE cBd. thE PRoPERty haS a laRGE WaREhouSE With SiGNificaNt coNtaiNER-RatEd haRdStaNd aNd iS lEaSEd to thE toll GRouP uNtil 2020. thERE iS ScoPE foR fuRthER REdEvEloPmENt iN thE mEdium to loNG tERm duE to loW SitE covERaGE.

==> picture [602 x 508] intentionally omitted <==

lOGistics & Business Parks cOmmercial POrtfOliO

logistics & business Parks

==> picture [230 x 304] intentionally omitted <==

yennora, nSW

Lease expiry profile %

At 30 June 2015 the portfolio comprises 24 properties encompassing over one million square metres of building area with Stockland’s ownership interests valued at $1.7 billion and gross book value of $1.9 billion. Properties are strategically positioned in key locations for logistics, infrastructure and employment.

==> picture [230 x 124] intentionally omitted <==

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

6 13 12 10 12 47
vacant Fy
16 17 18 19 20+
Geographic split %
69 16 6 3 6
nSW vic Qld WA SA
----- End of picture text -----

STOCKLAND PROPERTY PORTFOLIO JunE 2015

lOGistics & Business Parks cOmmercial POrtfOliO

COOPERS PADDOCK, NSW

SituatEd iN thE hEaRt of South WESt SydNEy, WaRWick faRm offERS a PRimE locatioN foR a loGiSticS aNd diStRiButioN huB PRovidiNG EaSE of accESS to mEtRoPolitaN SydNEy aNd to iNtERStatE maRkEtS via thE SydNEy motoRWay NEtWoRk. thE SitE comPRiSES 11.5 hEctaRES of GREENfiEld dEvEloPmENt laNd cuRRENtly BEiNG maStERPlaNNEd foR aPPRoximatEly 52,000 Sqm of flExiBlE officE aNd WaREhouSE accommodatioN RaNGiNG fRom 3,000 Sqm to 24,000 Sqm.

==> picture [602 x 508] intentionally omitted <==

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

artist’s impression
----- End of picture text -----

lOGistics & Business Parks cOmmercial POrtfOliO

~~Logistics & Business Parks Portfolio as at 30 June 2015~~
Page
Property
Location
GLA (m2)
Book value
($m)
FY15 AIFRS
NOI ($m)
Funds from
operations ($m)
% of Logistics &
Business Parks
Portfolio
Passing
rent ($/m2)
Net/Gross
Logistics
30
yennora distribution centre,yennora
nSW
296,402
369.4
22.2
24.6
21.7
94
net
30
Port Adelaide distribution centre,Port Adelaide
SA
167,727
94.8
7.9
9.1
5.6
55
net
30
hendra distribution centre,brisbane
Qld
83,380
84.5
11.0
11.6
5.0
99
net
31
brooklyn Estate,brooklyn
vic
130,004
82.5
5.8
7.2
4.9
69
net
31
Forrester distribution centre,St mary’s
nSW
60,239
77.6
6.2
5.9
4.6
102
net
31
ingleburn distribution centre,ingleburn
nSW
6,700
77.3^^
5.8
5.1
4.5
83
net
32
balcatta distribution centre,balcatta
WA
26,388
56.5^^
4.3
3.2
3.3
117
net
32
toll business Park,Altona
vic
52,448
48.2
2.7
3.3
2.8
79
net
32
20-50 and 76-82 Fillo drive and 10 Stubb Street,Somerton
vic
71,326
46.8
3.4
3.9
2.8
66
net
33
9-11a Ferndell Street,Granville
nSW
47,483
46.6
3.8
4.1
2.7
94
net
33
1090-1124 centre road,oakleigh South
vic
44,352
31.9
2.3
2.8
1.9
80
net
33
cherrylane,laverton north
vic
20,500
30.9
1.0
0.9
1.8
69
net
34
Altona distribution centre,Altona
vic
34,259
29.1
2.7
2.9
1.7
75
net
34
baker St,botany
nSW
9,492
21.6
0.4
0.4
1.3
164
net
34
2 davis road,Wetherill Park
nSW
16,263
18.7
1.1
1.2
1.1
98
net
35
Export Park,9-13 viola Place,brisbane Airport
Qld
8,468
11.8
1.2
1.4
0.7
209
net
35
40 Scanlon drive,Epping
vic
9,371
8.5
0.8
0.8
0.5
87
net
1,084,802
1,136.7
82.6
88.4
66.9
Logistics Development Land
35
coopers Paddock,Warwick Farm
nSW
52,000^
18.7
n/A
n/A
1.1
n/A
n/A
36
yatala distribution centre,yatala
Qld
45,000^
10.0
n/A
n/A
0.6
n/A
n/A
31
ingleburn distribution centre,ingleburn(Stage one)
nSW
28,800^
n/A
n/A
n/A
n/A
n/A
n/A
32
balcatta distribution centre,balcatta
WA
20,000^
n/A
n/A
n/A
n/A
n/A
n/A
28.7
1.7
Business Parks
36
optus centre,macquarie Park^^^
nSW
84,194
203.8
14.7
14.4
12.0
286
net
36
triniti business campus,north ryde
nSW
28,158
169.7^^
11.6
14.6
10.0
380
net
37
60-66 Waterloo road,macquarie Park
nSW
18,314
80.0
5.8
6.7
4.7
324
net
37
macquarie technologycentre,macquarie Park
nSW
15,371
42.9
2.0
2.7
2.5
272
net
37
16 Giffnock Avenue,macquarie Park
nSW
11,690
37.6
3.2
4.3
2.2
257
net
157,727
534.0
37.3
42.7
31.4
Business Parks Development Land
36
triniti business campus,north ryde
nSW
30,098^
n/A
n/A
n/A
n/A
n/A
n/A
1,242,529
1,699.4
119.9
131.1
100.0*

Excludes hardstand and vehicle storage and reflects 100% interest
^ Estimated Gla on completion, not included in total Gla
^^ includes development land value. total value of greenfield development land is $65 million.
^^^ Book value represents Stockland’s 51% ownership interest

STOCKLAND PROPERTY PORTFOLIO JunE 2015 29

lOGistics & Business Parks cOmmercial POrtfOliO

==> picture [230 x 123] intentionally omitted <==

~~Yennora Distribution Centre~~

yennora distribution centre is one of the largest distribution centres of its kind in the southern hemisphere with approximately 300,000 sqm under roof and 70,000 sqm of dedicated container hardstand. the site operates as an ‘intermodal’ rail terminal with approximately seven kilometres of rail sidings connected to the main Southern rail line. Planning is underway for partial redevelopment and refurbishment.

Location: Yennora, NSW

Location: Yennora, NSW
acquisition date:	jul 2000/Nov 2010
ownership/title:	100%/freehold
cost includingadditions:	$267.8 million

Last independent valuation
date:	dec 2013
valuation:	$350.5 million
valuation $/m2:	$1,183/m2
capitalisation rate:	7.75%
discount rate:	9.00%
lettable area:	296,402m2
Site area:	70ha
hardstand:	70,000m2
Weighted average lease expiry:	4.9years

Major tenants GLA(m2)	Major tenants GLA(m2)
australian Wool handlers 58,704
qube logistics 44,677
austpac Ptyltd 22,636
toll holdings limited 20,240

Lease expiry profle %

11 4 11 28 46

==> picture [230 x 123] intentionally omitted <==

~~Port Adelaide Distribution Centre~~

Port Adelaide distribution centre is a large industrial estate comprising over 160,000 sqm across 12 large warehouses, together with 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 building E across 21,000 sqm leased to louis dreyfus Group and impact Fertiliser. Additionally, a dA has been approved for a new 7,500 sqm warehouse on surplus land.

Location: Port Adelaide, SA

Location: Port Adelaide, SA
acquisition date:	jul 2000
ownership/title:	100%/freehold
cost includingadditions:	$60.8 million

Last independent valuation
date:	jun 2015
valuation:	$94.8 million
valuation $/m2:	$565/m2
capitalisation rate:	9.25%
discount rate:	9.50%
lettable area:	167,727m2
Site area:	32ha
hardstand:
Weighted average lease expiry:	1.7years

Major tenants GLA (m[2] ) aci 90,075 koch fertiliser 23,481 Wengfu australia 20,770 Spendless Shoes Pty limited 12,383

==> picture [230 x 21] intentionally omitted <==

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

52 9 39
----- End of picture text -----

==> picture [243 x 134] intentionally omitted <==

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

Hendra Distribution Centre
----- End of picture text -----

hendra distribution centre is comprised of 17 warehouses including one large, modern distribution centre with further warehousing and amenities. the property is well situated in brisbane’s trade coast precinct and boasts excellent road, port and air accessibility. Surplus land adjacent is available for further development.

Location: Brisbane, Qld

Location: Brisbane, Qld
acquisition date:	jul 2000
ownership/title:	100%/freehold
cost includingadditions:	$50.5 million

Last independent valuation
date:	jun 2015
valuation:	$84.5 million
valuation $/m2:	$1,013/m2
capitalisation rate:	8.75%
discount rate:	9.75%
lettable area:	83,380m2
Site area:	17ha
hardstand:
Weighted average lease expiry:	3.6years

Major tenants GLA (m[2] ) kmart distribution 28,500 agility logistics 8,958 queensland Rail limited 7,902 lion Nathan 7,724

==> picture [231 x 21] intentionally omitted <==

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

11 17 12 3 57
----- End of picture text -----

vacant Fy

16 17 18 19 20+

lOGistics & Business Parks cOmmercial POrtfOliO

==> picture [230 x 123] intentionally omitted <==

~~Brooklyn Estate~~

brooklyn Estate is a flexible distribution centre, located ten kilometres west of the melbourne cbd, adjacent to the four-way interchange of West Gate Freeway and the Princes highway. the estate comprises ten separate warehouses over 22 hectares. Planning is underway for partial redevelopment of the site. Additional land has been acquired to create a new access point.

Location: Brooklyn, vic

acquisition date: jun 2003 ownership/title: 100%/freehold cost including additions: $66.9 million Last independent valuation date: dec 2012 valuation: $79.7 million valuation $/m[2] : $613/m[2] capitalisation rate: 9.25% discount rate: 9.75% lettable area: 130,004m[2] Site area: 22ha hardstand: 10,500m[2] Weighted average lease expiry: 2.0 years

Major tenants GLA (m[2] ) unitised Building (aust) Pty ltd 32,809 ceva 23,625 Paper australia 12,725 isuzu 11,814

==> picture [230 x 123] intentionally omitted <==

~~Forrester Distribution Centre~~

Forrester distribution centre is a modern and flexible facility conveniently located within close proximity to rail and the Great Western highway, the m4 and m7 motorways, also featuring drivearound access to all three warehouse buildings. the premises are fully occupied by Aci Packaging, a wholly-owned subsidiary of owensillinois, a u.S. Fortune 500 company.

Location: St Mary’s, NSW acquisition date: dec 2013 ownership/title: 100%/freehold cost including additions: $78.1 million Last independent valuation date: dec 2014 valuation: $77.0 million valuation $/m[2] : $1,278/m[2] capitalisation rate: 7.75% discount rate: 9.00% lettable area: 60,239m[2] Site area: 12ha hardstand: Weighted average lease expiry: 3.8 years

Major tenants GLA (m[2] ) aci 60,239

==> picture [230 x 123] intentionally omitted <==

~~Ingleburn Distribution Centre~~

this 28 hectare site is located in the established industrial precinct of ingleburn, approximately 44 kilometres south west of the Sydney cbd. it provides a substantial development offering and is located within close proximity to the m5 and other key south western Sydney industrial markets. ingleburn distribution centre includes 5.1 hectares of industrial land available for immediate development with a further 7.3 and 15.5 hectares leased to Patrick Autocare until 2017 and 2024 respectively. First stage dA for 28,800 sqm has been approved.

Location: Ingleburn, NSW

Location: Ingleburn, NSW
acquisition date:	jun 2014
ownership/title:	100%/freehold
cost includingadditions:	$76.7 million

Last independent valuation
date:	N/a
valuation:	N/a
valuation $/m2:	N/a
capitalisation rate:	N/a
discount rate:	N/a
lettable area:	6,700m2
Site area:	28ha
hardstand:
Weighted average lease expiry:	6.8years

GLA (m[2] )

Major tenants Patrick autocare Pty ltd 6,700

Lease expiry profile %

==> picture [230 x 21] intentionally omitted <==

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

11 28 34 16 11
----- End of picture text -----

==> picture [230 x 21] intentionally omitted <==

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

100
----- End of picture text -----

==> picture [230 x 21] intentionally omitted <==

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

31 69
----- End of picture text -----

STOCKLAND PROPERTY PORTFOLIO JunE 2015 31

lOGistics & Business Parks cOmmercial POrtfOliO

==> picture [230 x 123] intentionally omitted <==

Balcatta Distribution Centre

balcatta distribution centre is located in one of Western Australia’s premier industrial precincts, 12 kilometres north of the Perth cbd. Situated on a 12 hectare site, it is the largest, single industrial site in balcatta. the property comprises the brownes dairy head office, processing and distribution centre. the property has further development opportunities available over 3.9 hectares of surplus development land on the site.

Location: Balcatta, WA

acquisition date: jun 2014 ownership/title: 100%/freehold cost including additions: $56.5 million Last independent valuation date: jun 2015 valuation: $56.5 million valuation $/m[2] : $2,141/m[2] capitalisation rate: 7.25% discount rate: 9.00% lettable area: 26,388m[2] Site area: 12ha hardstand: Weighted average lease expiry: 19.0 years

Major tenants GLA (m[2] ) Brownes food operations Pty ltd 26,388

==> picture [230 x 123] intentionally omitted <==

Toll Business Park

toll business Park comprises three modern warehouse and distribution facilities. 11-25 toll drive operates as a cross dock with large hardstand areas and is currently leased to toll (iPEc). 32-54 toll drive is a modern distribution warehouse facility and ancillary office. 56-60 toll drive features five recessed sunken docks and nine loading bays, recently leased to the deliver Group until 2020.

Location: Altona, vic

acquisition date: Sep 2006 ownership/title: 100%/freehold cost including additions: $63.9 million Last independent valuation date: jun 2013* valuation: $46.7 million valuation $/m[2] : $890/m[2] capitalisation rate: 8.25% discount rate: 9.50% lettable area: 52,448m[2] Site area: 13ha hardstand: Weighted average lease expiry: 3.2 years

Major tenants GLA (m[2] ) toll holdings limited 34,871 deliver.com.au 17,577

==> picture [231 x 123] intentionally omitted <==

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

the property consists of three warehouse facilities with adjacent boundaries. 20-50 Fillo drive is a 31,000 sqm distribution facility with clearance of eight metres and multiple loading points. 10 Stubb Street is located on the same title and comprises a modern distribution facility consisting of a two-level office and warehouse, drive around access and multiple loading points. 76-82 Fillo drive is a modern industrial building with 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:	$64.2 million

Last independent valuation
date:	jun 2014
valuation:	$46.9 million
valuation $/m2:	$658/m2
capitalisation rate:	8.75-9.00%
discount rate:	9.25%
lettable area:	71,326m2
Site area:	16ha
hardstand:
Weighted average lease expiry:	1.6years

Major tenants GLA (m[2] ) toll holdings limited 31,185 yakka Pty ltd 18,822 mainfreight distribution 10,617

Lease expiry profile %

100

52 48

16 54

==> picture [6 x 5] intentionally omitted <==

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

30
----- End of picture text -----

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

vacant Fy

16 17 18 19 20+

lOGistics & Business Parks cOmmercial POrtfOliO

==> picture [230 x 123] intentionally omitted <==

~~9-11a Ferndell Street~~

Situated on a 5.4 hectare site, 9-11 Ferndell Street comprises three modern office and warehouse buildings. 11a is a factory warehouse building made up of three warehouse bays and an ancillary office. both properties are located in the established industrial suburb of Granville, 20 kilometres west of the Sydney cbd. blue Star Group executed a new ten year lease.

Location: Granville, NSW

acquisition date: apr 2003/jun 2003 ownership/title: 100%/freehold cost including additions: $54.4 million Last independent valuation date: dec 2014 valuation: $46.4 million valuation $/m[2] : $977/m[2] capitalisation rate: 8.50-9.75% discount rate: 9.50-10.00% lettable area: 47,483m[2] Site area: 9ha hardstand: Weighted average lease expiry: 6.0 years

Major tenants GLA (m[2] ) visy industrial Packaging 17,546 Williams Enterprise Group 13,574 Bluestar Group 12,933 hellofresh australia 3,431

==> picture [230 x 123] intentionally omitted <==

~~1090-1124 Centre Road~~

the property is well located in melbourne’s south-eastern suburbs, 17 kilometres from the melbourne cbd. the eight hectare site is situated on a prominent main road location and currently has five warehouse buildings and a single office building. A substantial development is underway with a 10,702 sqm pre-lease for seven years to Specialty Packaging and a further 8,300 sqm to be built, both replacing obsolescent existing buildings. Works are scheduled to commence late 2015.

Location: Oakleigh South, vic acquisition date: feb 2007 ownership/title: 100%/freehold cost including additions: $52.1 million Last independent valuation date: dec 2012 valuation: $31.8 million valuation $/m[2] : $717/m[2] capitalisation rate: 9.25% discount rate: 10.00% lettable area: 44,352m[2] Site area: 8ha hardstand: Weighted average lease expiry: 2.0 years

Major tenants GLA (m[2] ) Steinhoff asia Pacific 7,603 avery dennison 7,470 Reece Pty limited 686

==> picture [230 x 123] intentionally omitted <==

Cherry Lane

this property is a large single tenanted industrial facility located in melbourne’s western industrial precinct, 18 kilometres from the melbourne cbd. the property has a large warehouse with significant container-rated hardstand and is leased to the toll Group until 2020. there is scope for further redevelopment in the future due to low site coverage.

Location: Laverton North, vic

Location: Laverton North, vic
acquisition date:	feb 2015
ownership/title:	100%/freehold
cost includingadditions:	$30.9 million

Last independent valuation
date:	N/a
valuation:	N/a
valuation $/m2:	N/a
capitalisation rate:	N/a
discount rate:	N/a
lettable area:	20,500m2
Site area:	10ha
hardstand:	45,000m2
Weighted average lease expiry:	5.5years

GLA (m(mm[2] )

Major tenants GLA (m(mm toll holdings limited 20,500

Lease expiry profile %

==> picture [230 x 21] intentionally omitted <==

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

40 60
----- End of picture text -----

==> picture [230 x 21] intentionally omitted <==

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

14 35 51
----- End of picture text -----

==> picture [230 x 21] intentionally omitted <==

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

100
----- End of picture text -----

STOCKLAND PROPERTY PORTFOLIO JunE 2015

lOGistics & Business Parks cOmmercial POrtfOliO

==> picture [230 x 123] intentionally omitted <==

~~Altona Distribution Centre~~

the Altona distribution centre comprises nine separate buildings located in the western industrial precinct of melbourne adjacent to the Western ring road. the estate is currently 100% leased with low site coverage and offers future redevelopment potential.

Location: Altona, vic

Location: Altona, vic
acquisition date:	jul 2000
ownership/title:	100%/freehold
cost includingadditions:	$28.5 million

Last independent valuation
date:	dec 2014
valuation:	$29.0 million
valuation $/m2:	$846/m2
capitalisation rate:	8.75%
discount rate:	9.50%
lettable area:	34,259m2
Site area:	15ha
hardstand:	65,500m2
Weighted average lease expiry:	1.9years

GLA (m(mm[2] )

Major tenants GLA (m(mm ceva 13,968 autonexus Pty ltd 6,165 Petrogas 4,877 knauf Plasterboard Pty ltd 3,189

==> picture [230 x 123] intentionally omitted <==

Baker St

this well located property offers a flexible warehouse located within close proximity to Port botany, 11 kilometres south of the Sydney cbd. Gross lettable area includes 7,900 sqm of warehouse and 1,600 sqm of office and showroom area. baker Street is solely leased to Smeg Australia.

Location: Botany, NSW

Location: Botany, NSW
acquisition date:	mar 2015
ownership/title:	100%/freehold
cost includingadditions:	$21.6 million

Last independent valuation
date:	N/a
valuation:	N/a
valuation $/m2:	N/a
capitalisation rate:	N/a
discount rate:	N/a
lettable area:	9,492m2
Site area:	2ha
hardstand:
Weighted average lease expiry:	1.0years

Major tenants GLA (m[2] ) Smeg australia Pty ltd 9,492

==> picture [243 x 134] intentionally omitted <==

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

2 Davis Road
----- End of picture text -----

this property is a modern office warehouse building offering flexible warehousing solutions. Approval has been received to redevelop the rear of the property, increasing the hardstand and improving the functionality of the site.

Location: Wetherill Park, NSW

Location: Wetherill Park, NSW
acquisition date:	apr 2003
ownership/title:	100%/freehold
cost includingadditions:	$17.7 million

Last independent valuation
date:	dec 2014
valuation:	$18.8 million
valuation $/m2:	$1,156/m2
capitalisation rate:	8.00%
discount rate:	9.25%
lettable area:	16,263m2
Site area:	4ha
hardstand:
Weighted average lease expiry:	4.3years

Major tenants	GLA(m2)
freight Specialists Ptylimited	10,274

Lease expiry profile %

==> picture [478 x 21] intentionally omitted <==

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

24 31 32 13 100
----- End of picture text -----

36 64

vacant Fy 16 17 18 19 20+

lOGistics & Business Parks cOmmercial POrtfOliO

==> picture [230 x 123] intentionally omitted <==

~~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 Australia and union Switch & Signal Australia. 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 (Expiry 2047) cost including additions: $16.1 million Last independent valuation date: jun 2013 valuation: $12.0 million valuation $/m[2] : $1,417/m[2] capitalisation rate: 9.75% discount rate: 9.75% lettable area: 8,468m[2] Site area: N/a hardstand: Weighted average lease expiry: 2.1 years

Major tenants GLA (m[2] ) dhl Global forwarding 4,322 union Switch & Signal 4,146

==> picture [230 x 123] intentionally omitted <==

~~40 Scanlon Drive~~

40 Scanlon drive is a modern warehouse facility of 9,371 sqm. the building offers high quality warehouse and office accommodation and is located 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: Sep 2007 ownership/title: 100%/freehold cost including additions: $8.9 million Last independent valuation date: dec 2014 valuation: $8.5 million valuation $/m[2] : $907/m[2] capitalisation rate: 8.00% discount rate: 9.00% lettable area: 9,371m[2] Site area: 2ha hardstand: Weighted average lease expiry: 3.6 years

Major tenants GLA (m[2] ) Gruma oceania 5,306 Grace australia 4,065

==> picture [230 x 123] intentionally omitted <==

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

artist’s impression
----- End of picture text -----

~~Coopers Paddock~~

Situated in the heart of South West Sydney, coopers Paddock offers a prime location for logistics and distribution providing ease of access to metropolitan Sydney and to interstate markets via the Sydney motorway network. the site comprises 11.5 hectares of greenfield development land currently being masterplanned for approximately 52,000 sqm of flexible office and warehouse accommodation ranging from 3,000 sqm to 24,000 sqm.

Location: Warwick Farm, NSW

acquisition date: apr 2015 ownership/title: 100%/freehold cost including additions: $18.7 million Last independent valuation date: N/a valuation: N/a valuation $/m[2] : N/a capitalisation rate: N/a discount rate: N/a lettable area: N/a Site area: 11ha hardstand: Weighted average lease expiry: N/a

Major tenants GLA (m[2] )

Lease expiry profile %

100

==> picture [230 x 21] intentionally omitted <==

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

48 52
----- End of picture text -----

STOCKLAND PROPERTY PORTFOLIO JunE 2015 35

lOGistics & Business Parks cOmmercial POrtfOliO

==> picture [230 x 123] intentionally omitted <==

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

artist’s impression
----- End of picture text -----

~~Yatala Distribution Centre~~

the yatala distribution centre 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 45,000 sqm of prime warehousing and distribution solutions. A dA has been received for stage one (12,000 sqm), with further approvals being sought.

Location: Yatala, Qld
acquisition date:	Nov 2006
ownership/title:	100%/freehold
cost includingadditions:	$28.5 million

Last independent valuation
date:	jun 2013
valuation:	$8.5 million
valuation $/m2:
capitalisation rate:	N/a
discount rate:	N/a
lettable area:	N/a
Site area:	9ha
hardstand:
Weighted average lease expiry:	N/a

GLA (m[2] )

Major tenants

==> picture [230 x 123] intentionally omitted <==

~~Optus Centre~~

optus centre is located 12 kilometres north-west of Sydney cbd in macquarie Park. Situated on a 7.5 hectare site, the integrated campus comprises six low rise, A grade buildings with a combined nlA of 84,194 sqm together with 2,100 car parking spaces. optus centre is within close proximity to key amenities and is one of Australia’s largest single tenant office campuses.

Location: Macquarie Park, NSW

Location: Macquarie Park, NSW
acquisition date:	jul 2000
ownership/title:	51%/freehold
cost includingadditions:	$175.1 million

Last independent valuation
date:	dec 2014
valuation:	$203.0 million
valuation $/m2:	$4,728/m2*
capitalisation rate:	7.25%
discount rate:	8.75%
lettable area:	84,194m2
Site area:	8ha
hardstand:
Weighted average lease expiry:	7.0years
NaBERS energyrating:	4.5
NaBERS water rating:	3.5
Green Star Rating:	N/a

Major tenants	GLA(m2)*
optus administration	84,194

==> picture [231 x 123] intentionally omitted <==

Triniti Business Campus

located within riverside corporate Park, triniti business campus is in close proximity to the north ryde railway station and provides Sydney cbd and district views. the campus currently houses blue chip companies including Goodman Fielder, cSr and downer Edi Engineering. the adjacent triniti site has an approved dA for future development. in 2010, triniti business campus won the Property council of Australia’s innovation and Excellence Award for business and industrial Parks.

Location: North Ryde, NSW

Location: North Ryde, NSW
acquisition date:	jun 2001
ownership/title:	100%/freehold
cost includingadditions:	$151.3 million

Last independent valuation
date:	jun 2014
valuation:	$167.7 million
valuation $/m2:	$5,956/m2
capitalisation rate:	7.75%
discount rate:	9.00%
lettable area:	28,158m2
Site area:	3ha
hardstand:
Weighted average lease expiry:	3.8years
NaBERS energyrating:	t1 5.5 t2 5.0 t3 5.0*
NaBERS water rating:	t1 4.5 t2 4.0 t3 3.5*
Green Star Rating:	t1 5.0 t2 5.0 t3 5.0 as Built**

Major tenants	GLA(m2)
downer Edi Engineering	10,199
Goodman fielder	8,521
cSR	5,752
Wilmar Sugar Ptyltd	734

Lease expiry profile %

100

100% interest

4 1 32

3 60

triniti 1, triniti 2 and triniti 3 respectively
** Green Star office as Built v.2 - www.gbca.org.au

vacant Fy 16 17 18 19 20+

lOGistics & Business Parks cOmmercial POrtfOliO

==> picture [230 x 123] intentionally omitted <==

~~60-66 Waterloo Road~~

60-66 Waterloo road is located in macquarie Park, 12 kilometres north-west of the Sydney cbd. 60 Waterloo road comprises a modern office, laboratory and warehouse building leased to laverty health until 2024. 66 Waterloo road offers A-grade office accommodation with average floor plates of 1,700 sqm. citrix has leased over 5,000 sqm until 2024.

Location: Macquarie Park, NSW

Location: Macquarie Park, NSW
acquisition date:	oct 2000
ownership/title:	100%/freehold
cost includingadditions:	$54.1 million

Last independent valuation
date:	jun 2015
valuation:	$80.0 million
valuation $/m2:	$4,368/m2
capitalisation rate:	7.25-7.50%
discount rate:	9.00%
lettable area:	18,314m2
Site area:	2ha
hardstand:
Weighted average lease expiry:	6.6years
NaBERS energyrating:	4.5*
NaBERS water rating:	3.5*
Green Star Rating:	N/a

Major tenants	GLA(m2)
lavertyhealth	8,167
citrix	5,270
jansen cilagPtyltd	4,857

==> picture [230 x 123] intentionally omitted <==

~~Macquarie Technology Centre~~

macquarie technology centre is located in macquarie Park, 12 kilometres north-west of the Sydney cbd. the site consists of two buildings, 33-39 talavera road and 11-17 khartoum road, both comprising office and warehouse accommodation with onsite parking for over 400 vehicles. 33-39 talavera road has recently been substantially leased to utc building & industrial Systems until 2023. the site is suitable for future redevelopment with expected floor space ratio benefits due to it’s low site coverage.

Location: Macquarie Park, NSW

Location: Macquarie Park, NSW
acquisition date:	oct 2000
ownership/title:	100%/freehold
cost includingadditions:	$44.4 million

Last independent valuation
date:	jun 2015
valuation:	$42.9 million
valuation $/m2:	$2,791/m2
capitalisation rate:	7.25%-8.50%
discount rate:	8.50%-9.25%
lettable area:	15,371m2
Site area:	3ha
hardstand:
Weighted average lease expiry:	5.6years
NaBERS energyrating:	3.5(11 khartoum Road)
NaBERS water rating:	N/a
Green Star Rating:	N/a

Major tenants	GLA(m2)
chubb Securityholdings australia Ptyltd	9,147
Noel arnold & associates	1,582
tardis Services	692
twin loopBinding	557

==> picture [230 x 123] intentionally omitted <==

~~16 Giffnock Avenue~~

located in macquarie Park, 12 kilometres north-west of the Sydney cbd, 16 Giffnock Avenue sits adjacent to the optus centre. the building consists of a modern commercial office, 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:	$32.3 million

Last independent valuation
date:	jun 2014
valuation:	$36.9 million
valuation $/m2:	$3,157/m2
capitalisation rate:	8.75%
discount rate:	9.00%
lettable area:	11,690m2
Site area:	1ha
hardstand:
Weighted average lease expiry:	3.8years
NaBERS energyrating:	3.0
NaBERS water rating:	3.5
Green Star Rating:	N/a

GLA (m[2] )

Major tenants alstom Power 2,970 apotex 1,951 Endress + hauser australia Pty ltd 1,690 Sonartech atlas 1,672

Lease expiry profile %

==> picture [230 x 21] intentionally omitted <==

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

29 1 70
----- End of picture text -----

==> picture [230 x 21] intentionally omitted <==

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

12 6 17 6 2 57
----- End of picture text -----

==> picture [230 x 21] intentionally omitted <==

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

16 4 7 47 26
----- End of picture text -----

66 Waterloo Road only

STOCKLAND PROPERTY PORTFOLIO JunE 2015 37

Office cOmmercial POrtfOliO

DuRACK CENTRE, WA

thE duRack cENtRE comPRiSES a 13-StoREy BuildiNG With laRGE 1,300 Sqm flooR PlatES, tWo BaSEmENt lEvElS aNd PaRkiNG foR 167 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.

==> picture [602 x 508] intentionally omitted <==

Office cOmmercial POrtfOliO

office

At 30 June 2015 the portfolio comprises 10 properties with Stockland’s ownership interests valued at $1.0 billion and gross book value of $1.6 billion. our focus is on maximising investment returns across the portfolio.

==> picture [230 x 304] intentionally omitted <==

77 Pacific highway, nSW

Lease expiry profile %

==> picture [230 x 89] intentionally omitted <==

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

5 12 7 17 14 45
vacant Fy
16 17 18 19 20+
Geographic split %
46 35 15 4
----- End of picture text -----

==> picture [43 x 5] intentionally omitted <==

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

nSW Qld WA Act
----- End of picture text -----

STOCKLAND PROPERTY PORTFOLIO JunE 2015

Office cOmmercial POrtfOliO

601 PACIFIC HIGHWAY, ST LEONARDS, NSW

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. iBm’S auStRaliaN hEad officE occuPiES EiGht flooRS acRoSS 7,200 Sqm, With all uPPER lEvElS PRovidiNG diStRict viEWS.

==> picture [602 x 508] intentionally omitted <==

Office cOmmercial POrtfOliO

Offce Portfolio as at 30 June 2015

Page	Property	Location	NLA (m2)	Book value ($m)	FY15 AIFRS NOI ($m)	Funds from operations ($m)	% of Offce Portfolio	Passing rent ($/m2)	Net/Gross
43	Waterfront Place,Eagle Street,brisbane**	Qld	59,422	296.0	17.5	21.6	28.4	833	Gross
43	Piccadillycomplex,133-145 castlereagh Street,Sydney^**	nSW	39,307	180.6	10.7	12.6	17.5	657*	net
43	durack centre,263 Adelaide terrace and 2 victoria Ave,Perth	WA	25,184	157.7	14.9	16.1	15.1	634	net
44	135 kingStreet,Sydney^**	nSW	27,252	125.9	4.3	6.5	12.1	810	Gross
44	601 Pacifc highway,St leonards	nSW	12,589	86.5	3.8	5.0	8.3	507	net
44	77 Pacifc highway,north Sydney	nSW	9,391	59.0	3.4	4.6	5.7	540	net
45	40 cameron Avenue,belconnen	Act	15,338	42.2	1.9	2.4	4.0	402	Gross
45	Garden Square,mt Gravatt	Qld	12,601	37.9	3.2	4.0	3.6	416	Gross
45	110 Walker Street,north Sydney	nSW	4,382	28.0	1.9	2.4	2.7	480	net
46	80-88 Jephson Street,23 and 27-29 high Street,toowong	Qld	7,894	26.7	2.2	2.6	2.6	417	Gross
			213,360	1,040.5	63.8	77.8	100.0

Represents passing rent for tower only. Net court passing rent is $447/sqm
** Book value represents Stockland’s 50% ownership interest.
^ Book value and Nla, office component only. Retail component included in Retail Portfolio.

STOCKLAND PROPERTY PORTFOLIO JunE 2015

Office cOmmercial POrtfOliO

==> picture [230 x 123] intentionally omitted <==

Waterfront Place

Waterfront Place is located on Eagle Street, overlooking the brisbane river. From a prime commercial location, providing panoramic river views and brisbane vistas from all commercial levels. the landmark 40-story office tower features 60,000 sqm of premium office space with floor plates averaging 1,800 sqm. Waterfront Place has achieved 5-star nAbErS energy rating and a 4-star nAbErS water rating.

Location: Eagle Street, Brisbane, Qld

acquisition date:	feb 2004
ownership/title:	50%/freehold/leasehold
cost includingadditions:	$173.8 million

Last independent valuation
date:	jun 2014
valuation:	$287.5 million
valuation $/m2:	$9,677/m2*
capitalisation rate:	6.75%
discount rate:	8.50%
carparkingspaces:	473
Net lettable area:	59,422m2
Weighted average lease expiry:	4.9years
NaBERS energyrating:	5.0
NaBERS water rating:	4.0
Green Star rating:	N/a

Major tenants	NLA(m2)*
minter Ellison Services Ptyltd	8,300
hopgood Ganim	6,334
origin EnergyServices limited	5,376
dla Phillips fox	4,147
king& Wood mallesons	3,736

==> picture [230 x 123] intentionally omitted <==

Piccadilly Complex

the Piccadilly complex comprises Piccadilly 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 two-storey retail shopping centre. Piccadilly court features recently refurbished ground floor lobby and both assets have recently undergone lift refurbishments. the asset is a joint-venture between Stockland and investa office Fund.

Location: 133-145 Castlereagh Street, Sydney, NSW

acquisition date:	oct 2000
ownership/title:	50%/leasehold(Expiry2091)
cost includingadditions:	$119.9 million

Last independent valuation
date:	dec 2014
valuation:	$176.8 million
valuation $/m2:	$8,996/m2***
capitalisation rate:	6.63-7.75%
discount rate:	8.00-8.25%
carparkingspaces:	274
Net lettable area:	39,307m2
Weighted average lease expiry:	5.9years
NaBERS energyrating:	5.0/5.0*
NaBERS water rating:	4.5/4.0*
Green Star rating:	6 Star**(Stockland offce only)

Major tenants	NLA(m2)***
Stockland	10,151
unitingchurch	4,940
Ghd Services	3,739
the universityof Sydney	3,648
Smartsalary	3,264

==> picture [231 x 123] intentionally omitted <==

Durack Centre

the durack centre comprises a 13-storey building with large 1,300 sqm floor plates, two basement levels and parking for 156 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:	$108.7 million

Last independent valuation
date:	jun 2014
valuation:	$157.0 million
valuation $/m2:	$6,234/m2
capitalisation rate:	8.25-8.75%
discount rate:	9.75-10.00%
carparkingspaces:	158
Net lettable area:	25,184m2
Weighted average lease expiry:	4.8years
NaBERS energyrating:	5.0/5.0*
NaBERS water rating:	4.0/3.0*
Green Star rating:	5 Star as Built(2 victoria avenue)**

Major tenants	NLA(m2)
jacobs	10,607
Shell	7,475
australian Bureau of Statistics	3,044
Stockland development	815
Noble leasingii Gmbh	813

Lease expiry profile %

==> picture [230 x 21] intentionally omitted <==

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

5 19 16 3 8 49
----- End of picture text -----

100% interest

2 5 2 5 19 67

Piccadilly tower and Piccadilly court respectively
** Green Star office interiors v.1 - www.gbca.org.au

1 8 6 34 51

263 adelaide terrace and 2 victoria ave respectively
** Green Star office design v.2 (2 victoria avenue only) - www.gbca.org.au
*** 100% interest

vacant Fy 16 17 18 19 20+

Office cOmmercial POrtfOliO

==> picture [230 x 123] intentionally omitted <==

~~135 King Street~~

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. in 2014 the office tower achieved full occupancy. the building has recently been refurbished offering upgraded amenities.

Location: Sydney, NSW

Location: Sydney, NSW
acquisition date:	jun 2003
ownership/title:	50%/freehold
cost includingadditions:	$89.5 million

Last independent valuation
date:	dec 2014
valuation:	$126.0 million*
valuation $/m2:	$9,247/m2**
capitalisation rate:	6.50%
discount rate:	8.00%
carparkingspaces:	76
Net lettable area:	27,252m2
Weighted average lease expiry:	5.3years
NaBERS energyrating:	4.0
NaBERS water rating:	3.0
Green Star rating:	N/a

Major tenants	NLA(m2)**
Brookfeld australia	4,428
Russell investments	3,696
uxc limited	3,626
moore Stephens	2,443
m&d Services Ptyltd	2,316

==> picture [230 x 123] intentionally omitted <==

~~601 Pacifc Highway~~

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. ibm’s Australian head office occupies eight floors across 7,200 sqm, with all upper levels providing district views.

Location: St Leonards, NSW

Location: St Leonards, NSW
acquisition date:	jun 2003
ownership/title:	100%/freehold
cost includingadditions:	$73.9 million

Last independent valuation
date:	jun 2015
valuation:	$86.5 million
valuation $/m2:	$6,871/m2
capitalisation rate:	7.75%
discount rate:	8.50%
carparkingspaces:	158
Net lettable area:	12,589m2
Weighted average lease expiry:	3.8years
NaBERS energyrating:	4.5
NaBERS water rating:	4.5
Green Star rating:	N/a

Major tenants	NLA(m2)
iBm Global Services	7,283
fleet Partners	1,818
Brown consulting	912
incorpinterior designs Ptyltd	434
Westpac Bank	353

==> picture [230 x 123] intentionally omitted <==

~~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 15 levels of commercial tenants, ground floor café and two levels of basement parking. the A-grade property includes floor to ceiling glass façade and a doubleheight entry foyer.

Location: North Sydney, NSW

acquisition date: jan 2000 ownership/title: 100%/freehold cost including additions: $60.3 million Last independent valuation date: jun 2015 valuation: $59.0 million valuation $/m[2] : $6,282/m[2] capitalisation rate: 7.75% discount rate: 8.75% car parking spaces: 41 Net lettable area: 9,391m[2] Weighted average lease expiry: 3.6 years NaBERS energy rating: 4.5 NaBERS water rating: 3.0 Green Star rating: N/a Major tenants NLA (m[2] ) infosys technologies australia 1,321 health administration corporation 1,266 Saville & holdsworth australia 900 talent 2 Works Pty limited 728 insurance house 710

Lease expiry profile %

1 24 8 67

==> picture [230 x 21] intentionally omitted <==

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

2 12 63 32
----- End of picture text -----

==> picture [230 x 21] intentionally omitted <==

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

3 3 20 10 30 34
----- End of picture text -----

Excludes Retail
** 100% interest

STOCKLAND PROPERTY PORTFOLIO JunE 2015 43

Office cOmmercial POrtfOliO

==> picture [230 x 123] intentionally omitted <==

~~40 Cameron Avenue~~

40 cameron Avenue occupies a prominent corner site in the southeastern precinct of the belconnen town centre. the property comprises four upper levels of office accommodation, basement car parking for 45 cars and on-grade parking for 176 cars. the building has floor plates in excess of 3,500 sqm and has recently undergone significant refurbishment. it is expected to achieve a nAbErS rating of 4.5 stars.

Location: Belconnen, ACT

Location: Belconnen, ACT
acquisition date:	feb 2007/Nov 2009
ownership/title:	100%/leasehold(Expiry2096)
cost includingadditions:	$77.0 million

Last independent valuation
date:	jun 2014
valuation:	$42.7 million
valuation $/m2:	$2,784/m2
capitalisation rate:	10.50%
discount rate:	10.50%
carparkingspaces:	221
Net lettable area:	15,338m2
Weighted average lease expiry:	2.6years
NaBERS energyrating:	Exempt
NaBERS water rating:	N/a
Green Star rating:	N/a

Major tenants	NLA(m2)
hewlett Packard Ptyltd	7,695
chatterbox café	117

==> picture [230 x 123] intentionally omitted <==

~~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 with both basement and on-grade parking for over 400 vehicles.

Location: Mt Gravatt, Qld
acquisition date:	feb 2007
ownership/title:	100%/freehold
cost includingadditions:	$66.8 million

Last independent valuation
date:	jun 2014
valuation:	$36.5 million
valuation $/m2:	$2,897/m2
capitalisation rate:	9.25%
discount rate:	9.25%
carparkingspaces:	409
Net lettable area:	12,601m2
Weighted average lease expiry:	2.0years
NaBERS energyrating:	4
NaBERS water rating:	5.0
Green Star rating:	N/a

Major tenants	NLA(m2)
State of queensland	8,684

==> picture [231 x 123] intentionally omitted <==

110 Walker Street

comprising over 4,000 sqm 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:	$27.0 million

Last independent valuation
date:	jun 2015
valuation:	$28.0 million
valuation $/m2:	$6,390/m2
capitalisation rate:	7.75%
discount rate:	8.75%
carparkingspaces:	80
Net lettable area:	4,382m2
Weighted average lease expiry:	2.6years
NaBERS energyrating:	4.0
NaBERS water rating:	3.0
Green Star rating:	N/a

Major tenants	NLA(m2)
Rice daubney	1,454
Super iq	1,025
accor advantage Plus	664
j-Power australia	328
Wynyard(australia)Ptylimited	299

Lease expiry profile %

==> picture [478 x 21] intentionally omitted <==

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

44 1 53 11 3 31 4 46 1 15
----- End of picture text -----

==> picture [231 x 21] intentionally omitted <==

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

32 20 28 20
----- End of picture text -----

vacant Fy 16 17 18 19 20+

Office cOmmercial POrtfOliO

~~80-88 Jephson Street, 23 and 27-29 High Street~~

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:	$40.9 million

Last independent valuation
date:	jun 2013
valuation:	$25.5 million
valuation $/m2:	$3,230/m2
capitalisation rate:	8.25-9.00%
discount rate:	9.75%
carparkingspaces:	132
Net lettable area:	7,894m2
Weighted average lease expiry:	1.5years
NaBERS energyrating:	4.0*
NaBERS water rating:	4.0*
Green Star rating:	N/a

Major tenants	NLA(m2)
trans cityjv	1,896
Sonic healthcare	1,468
clinical Network Services	704
Webb australia Group (qld)P/l	603
Bodycorporate Services	384

Lease expiry profile %

==> picture [230 x 21] intentionally omitted <==

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

2 61 6 4 20 7
----- End of picture text -----

80-88 jephson Street only

STOCKLAND PROPERTY PORTFOLIO JunE 2015 45

residential cOmmunities residential POrtfOliO

==> picture [67 x 8] intentionally omitted <==

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

HIGHLANDS, vIC
----- End of picture text -----

aN aWaRd WiNNiNG maStER PlaNNEd 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.

==> picture [602 x 508] intentionally omitted <==

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 over 80,900 lots remaining in its portfolio with a total end value of approximately $20.7 billion*.

==> picture [230 x 304] intentionally omitted <==

highlands, vic

Geographic split %*

==> picture [47 x 15] intentionally omitted <==

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

15 26
By current lots
----- End of picture text -----*

==> picture [105 x 5] intentionally omitted <==

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

46 13
----- End of picture text -----

==> picture [42 x 5] intentionally omitted <==

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

nSW vic Qld WA
----- End of picture text -----

Excluding value on projects identified for disposal.

STOCKLAND PROPERTY PORTFOLIO JunE 2015

residential cOmmunities residential POrtfOliO

WILLOWDALE, NSW locatEd iN thE thRiviNG South WESt coRRidoR, WilloWdalE Will dElivER 3,000 NEW homES PlaNNEd aRouNd valuaBlE amENitiES; multiPlE PaRklaNdS, SPoRtS fiEldS, a School, ShoPS, café, commuNity cENtRE aNd moRE.

==> picture [602 x 508] intentionally omitted <==

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	1,148	3,270#	19	190,000 – 514,000	once complete, a community of over 3,000 new homes including a 200 townhouse
2011						medium density development, completed homes and retirement living capacity for
						future retail opportunities, community centre, sports ovals and a proposed school.
						the site is located 1.5 kilometres from leppington railway station, ten minutes to the
						m5 & m7 motorways,and approximately50 kilometres from the Sydneycbd.
Elara**	marsden Park	1,071	2,334#	10	243,000 – 511,000	Elara is an exciting new community in Sydney’s north-west and will feature tree-
2012, 2014						lined streets, parks and green open spaces in a picturesque setting with views
						to the blue mountains. Elara will eventually include over 2,000 homes including a
						259 lot townhouse medium density development across the 198 hectare site. the
						development is close to key transport links, employment centres and has easy
						access to blacktown, Parramatta and the Sydney cbd, which is less than an hour
						bytrain.
mckeachie’s run	maitland	194	1,070	74	156,000 – 330,000	located 40 minutes west of newcastle in maitland, mckeachie’s run has a strong
2003, 2011						community feel and amenities such as the sporting felds, shopping village and
						childcare centre.
Waterside	Penrith	170	610	92	240,000 – 350,000	Waterside is located close to Penrith and offers a community facility comprising a
2003						swimming pool,community pavilion andplayground.
macarthur Gardens***	campbelltown	170	464#	41	n/A	macarthur Gardens is a 464 lot townhome development in the well-established
2003						suburb of campbelltown, 60 kilometres from the Sydney cbd. the development is
						adjacent to the university of Western Sydney, campbelltown tAFE, macarthur train
						station and close to the major campbelltown shopping centre. the development is
						scheduled to be released in Fy16.
Sandon Point (including	bulli/thirroul	153	299	94	400,000 – 600,000	located just over an hour from Sydney, situated in a unique beachside position on
mccauley’s beach)						mccauley’s beach. Sandon Point is close to existing local amenities such as the local
1998						train station and village of thirroul.
Glenmore ridge	Penrith	134	526	99	230,000 – 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	124	595	64	159,000 – 356,000	located 1.5 hours south of Sydney in the foothills of the illawarra escarpment. it is
2003						appealingto local upgradingfamilies and frst home buyers.
murrays beach^^^	lake macquarie	n/A	489	62	n/A	located 1.5 hours drive north of Sydney having frontage to lake macquarie. this
2004						project offers superb natural environments and lakeside living.
		3,164	9,657

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
dwellings

STOCKLAND PROPERTY PORTFOLIO JunE 2015 49

residential cOmmunities residential POrtfOliO

ELARA, NSW

ElaRa iS aN ExcitiNG NEW commuNity iN SydNEy’S NoRth-WESt aNd Will fEatuRE tREE-liNEd StREEtS, PaRkS aNd GREEN oPEN SPacES iN a PictuRESquE SEttiNG With viEWS to thE BluE mouNtaiNS. ElaRa Will iNcludE ovER 2,000 homES acRoSS thE 198 hEctaRE SitE. cloSE to kEy tRaNSPoRt liNkS, EmPloymENt cENtRES aNd With EaSy accESS to BlacktoWN, PaRRamatta aNd thE SydNEy cBd, Which iS lESS thaN aN houR By tRaiN.

==> picture [602 x 508] intentionally omitted <==

residential cOmmunities residential POrtfOliO

NSW – development pipeline

Property/		Total project
Acquisition date	Location	value ($m)*	Total lots	Price range ($)	Project description
Anambah	hunter/north coast	763	2,305	210,000 – 480,000	Future release area located 45 minutes west of newcastle and is a continuation of the maitland growth
2003	regions				corridor.
Schofelds	Schofelds	401	1,180#	400,000 – 510,000	Stockland is scheduled to launch a new mixed use community in Schofelds in Fy16. located
2015					approximately 40 kilometres north-west of the Sydney cbd, the development adjoins the Schofelds
					train Station and is 5 minute drive to the rouse hill town centre. the community will feature 340
					residential lots, 275 townhouses, 5 other lots and a 12,000 square metre town centre with retail
					facilities adjacent to 560 new apartments
illawarra**	South coast	189	642	166,000 – 265,000	located 1.5 hours south of Sydney in the foothills of the illawarra escarpment.
2003
lochinvar**	hunter/north coast	138	692	153,000 – 275,000	Future release area located 45 minutes west of newcastle in the maitland hinterland.
2003	regions
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
		1,491	6,036

total revenue generated throughout the life of the project
** ^^^ identified for disposalincludes options taken over land
dwellings

STOCKLAND PROPERTY PORTFOLIO JunE 2015

residential cOmmunities residential POrtfOliO

OCEANSIDE, QLD

thE $5 BillioN ocEaNSidE kaWaNa PRojEct, locatEd oN quEENSlaNd’S SuNShiNE coaSt ENcomPaSSES aRouNd 140 hEctaRES of laNd. iNcludES thE commuNitiES of BiRtiNya aNd BokaRiNa BEach, aS WEll aS thE NEW SuNShiNE coaSt uNivERSity PRivatE hoSPital aNd thE SuNShiNE coaSt PuBlic uNivERSity hoSPital uNdER coNStRuctioN, thE ocEaNSidE hEalth huB aNd thE futuRE toWN cENtRE.

==> picture [602 x 508] intentionally omitted <==

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,	1,162	4,853#	93	224,000 – 467,000	An award winning major residential masterplanned community. Situated 30
2004	moreton bay					kilometres north of brisbane with multiple schools, a town centre, a major retail
						shopping area, commercial property precinct and golf course. north lakes will be
						introducing a medium density offering in Fy16. in partnership with metricon, this
						development is located in the heart of the town centre next door to the Westfeld
						Shoppingcentre and north lakes rail link station.
north Shore	townsville	1,073	5,487	30	129,000 – 240,000	An innovative and award winning masterplanned community, 12 kilometres north
2001						of the townsville cbd, offers schools, parks, aquatic centre, town square and a
						neighbourhood Stockland shopping centre. 30 per cent of north Shore is dedicated
						to natural open spaces.
Pacifc Pines	Gold coast	661	5,050	99	201,000 – 247,000	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	437	1,552	92	175,000 – 520,000	A vibrant residential community, which is situated on the southern end of the
2004						Sunshine coast close to mooloolaba. brightwater includes a school, childcare centre
						and shopping precinct. it also has its own central lake and nine pocket parks. this
						successful community will commence close out during Fy16 following fnal sales of
						waterfront land.
birtinya island	Sunshine coast	417	924	48	185,000 – 436,000	A precinct in the oceanside community, situated on the impressive lake kawana,
2004						with its own private rowing course, birtinya is a stylish residential community full of
						quality designer homes. located just one hour north of brisbane, birtinya is right on
						the doorstep of the future kawana town centre and just minutes to pristine golden
						surf beaches.
highland reserve	upper coomera	265	1,174	80	187,000 – 325,000	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’s playground. At the heart of the community is the picturesque lake and
						communityhub with a café,convenience store and childcare centre.
the observatory	kingsmore	262	906	95	319,000 – 550,000	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.
Augustine heights	Greater Springfeld	241	1,004	71	222,000 – 313,000	located in the Springfeld growth corridor of ipswich, this boutique community offers
2003						wide open-space living, a private and public school and is minutes from shops,
						transport,cafés,universities and health services.
riverstone crossing***	maudsland	200	762	70	235,000 – 458,000	located 20 kilometres north-west of Surfers Paradise set on a magnifcent 194
2002						hectares at the foot of mount tamborine, riverstone crossing offers residents
						exclusive access to the riverhouse lifestyle centre with pool, gym, spa, sauna and
						tennis courts.
north lakes business Park	north lakes,	184	111	55	n/A	the north lakes business Park is a commercial site situated on the edge of the
2004	moreton bay					north lakes masterplanned communities.
bells reach	caloundra	145	765	90	120,000 – 280,000	bells reach is on the periphery of the future caloundra South masterplanned
2004						community located within fve kilometres of the Sunshine coast beaches. this
						community provides affordable housing options for a wide variety of home buyers
						and employs leading environmentally sustainable practices. it includes a café, major
						parks and signifcant open space and will ultimately form one of the gateways to
						caloundra South.

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
dwellings

STOCKLAND PROPERTY PORTFOLIO JunE 2015

residential cOmmunities residential POrtfOliO

NORTH LAKES, QLD

NoRth lakES iS aN aWaRd WiNNiNG majoR RESidENtial maStERPlaNNEd commuNity. SituatEd 30 kilomEtRES NoRth of BRiSBaNE, NoRth lakES haS multiPlE SchoolS aNd childcaRE cENtRES, a toWN cENtRE, majoR REtail ShoPPiNG aREa, commERcial PRoPERty PREciNct aNd itS oWN chamPioNShiP Golf couRSE. thE dEvEloPmENt haS alSo REcENtly BEcomE homE to quEENSlaNd’S fiRSt coStco. With NumERouS PaRkS, lakES, aNd kilomEtRES of WalkiNG aNd BikE PathS.

==> picture [602 x 508] intentionally omitted <==

residential cOmmunities residential POrtfOliO

Queensland – released to market (continued)

Property/		Total project
Acquisition date	Location	value ($m)*	Total lots	% Sold^	Price range ($)	Project description
Sovereign Pocket	deebing heights	127	698	34	113,000 – 265,000	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.
Stone ridge	narangba	126	593	43	185,000 – 265,000	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.
kawana business village	Sunshine coast	123	47	53	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.
vale	logan	123	639	41	135,000 – 250,000	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 with shops and a large range of schools close by.
ormeau ridge****	ormeau	103	478	52	180,000 – 300,000	conveniently located half way between brisbane and the Gold coast. the
2008						community features include a one hectare park with adventure playground and a
						commercial siteplanned for childcare and convenience amenity.
Freshwater^^	Griffn	33	139	99	n/A	Freshwater is a family friendly community located 28 kilometres north of brisbane
2003						near the 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	54	148,000 – 196,000	located 25 kilometres south of the Qld/nSW border, hundred hills appeals to frst
2007						home buyers and downsizers alike with spectacular views to mt Warning. A range of
						shops and schools are also close by.
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.
		5,713	25,350

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
dwellings

STOCKLAND PROPERTY PORTFOLIO JunE 2015

residential cOmmunities residential POrtfOliO

ISLES OF NEWPORT, QLD

iSlES of NEWPoRt iS quEENSlaNd’S NEWESt RESidENtial commuNity aNd SEt to BE lauNchEd iN latE 2015. locatEd juSt 24km fRom BRiSBaNE’S cBd, iSlES of NEWPoRt iS locatEd oN a caNal NEtWoRk With diREct ocEaN accESS via moREtoN Bay. juSt a ShoRt dRivE to thE vERy SuccESSful NoRth lakES commuNity, thiS NEW commuNity haS ExcEllENt accESS to SchoolS, ShoPPiNG aNd thE Rail NEtWoRk.

==> picture [602 x 508] intentionally omitted <==

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 living and community land. its anticipated that caloundra South community will be launched
					duringFy16
rockhampton	rockhampton	575	2,271	120,000 – 170,000	located seven kilometres north of Stockland rockhampton and ten kilometres north of the
2010					rockhampton cbd.
isles of newport	Scarborough	571	1,497	n/A	located in close proximity to north lakes, the isles of newport will provide a range of living options
2015					includingwaterfrontproperties with access to moreton bay.
Paradise Waters	deebing heights	552	2,080	126,000 – 240,000	Paradise Waters is located in the ripley valley growth corridor and enjoys access from the newly
2010					constructed centenaryhighway.
caboolture West/ripeford**	caboolture	364	1,403	110,000 – 180,000	located approximately 45 kilometres north of brisbane and 25 kilometres north-west of north lakes.
2008
brookbent road	Pallara	208	667	200,000 – 325,000	located 22 kilometres south of the brisbane cbd. We expect this project to be popular with
2003					upgraders. its anticipated that this communitywill be launched to the market duringFy16.
bokarina beach	Sunshine coast	126	299	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.
bahrs Scrub^^^	logan	n/A	1,312	n/A	located within a local development area 35 kilometres south of brisbane in the northern Gold coast
2008					corridor.
twin Waters West (formerly	Sunshine coast	n/A	849	n/A	located eight kilometres from maroochydore, bordered by the maroochy river, the motorway, the
ocean drive)					david low Way and ocean drive.
2005
		7,396	30,378

total revenue generated throughout the life of the project
** includes options taken over land
dwellings
^^^ identified for disposal

STOCKLAND PROPERTY PORTFOLIO JunE 2015

residential cOmmunities residential POrtfOliO

HIGHLANDS, vIC

hiGhlaNdS iS aN aWaRd WiNNiNG 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 amENity. iNcludEd iS a 108 hEctaRE SitE (foRmERly kNoWN aS cRaiGiEBuRN) of RESidENtial zoNEd laNd acquiREd fRom PlacES victoRia iN dEcEmBER 2013. thE SitE iS locatEd WithiN cloSE PRoximity to thE NEWly comPlEtEd $330 millioN cRaiGiEBuRN toWN cENtRE dEvEloPmENt: cRaiGiEBuRN cENtRal.

==> picture [602 x 508] intentionally omitted <==

residential cOmmunities residential POrtfOliO

victoria – released to market

Property/		Total project
Acquisition date	Location	value ($m)*	Total lots	% Sold^	Price range ($)	Project description
cloverton (formerly	kalkallo/beveridge	3,505	10,963	0	129,000 – 600,000	cloverton is a large consolidated development site within melbourne’s urban growth
lockerbie)**						boundary. it is located on the hume highway in kalkallo, about 35 kilometres north of
2010						the melbourne cbd in the city of hume, Whittlesea and mitchell. it will be developed
						as a masterplanned community and will support 10,900 houses and a major activity
						centre including a regional shopping centre and train station. there will also be an
						extensive range of schools, community and recreation facilities and open space. in
						Fy16 we will be looking to offer a diverse range of products including completed
						homes inpartnershipwith a range ofqualityhome builders.
highlands (including mt	craigieburn	1,920	8,812#	53	137,000 – 268,000	An award winning masterplanned community located in melbourne’s northern
ridley road and lakeside)						suburbs with picturesque views of surrounding hills and the melbourne cbd skyline.
2004, 2010, 2013						the project provides for residential, medium density, retirement living and schools,
						together with retail and commercial amenity. included is a 108 hectare site (formerly
						known as craigieburn) of residential zoned land acquired from Places victoria in
						december 2013. the site is located within close proximity to the newly completed
						$330 million craigieburn town centre development: craigieburn central. highlands
						has successfully launched a medium density offering in partnership with metricon.
						marketed as townliving, this 71 townhouse development is located on the edge of
						the highlands lake. this complements the existing land, home and land, completed
						homes and retirement village offerings.
the Grove (formerly davis	tarneit	640	2,539	0	135,000 – 316,000	this site is within melbourne’s urban growth boundary and adjoins the existing
rd)						urban area of tarneit. it is 28 kilometres west of the mellbourne cbd in the city
2010						of Wyndham. the masterplanned community will include over 2,500 homes, a
						neighbourhood activity centre, schools and a network of parks linked to davis creek
						and Werribee river. in Fy16 we will be looking to offer a diverse range of products
						includingcompleted homes inpartnershipwith a range ofqualityhome builders.
mernda villages	mernda	572	2,992	74	131,000 – 236,000	A major masterplanned community, located 29 kilometres north of melbourne,
2002						appealing to a broad market including young and mature families. in Fy16 we
						will be looking to offer a diverse range of products including completed homes in
						partnershipwith a range ofqualityhome builders.
Eucalypt	Epping	370	1,702	49	133,000 – 262,000	residential community located in melbourne’s north-eastern suburbs with frontage to
2009,2011						Findon creek. theprojectprovides for residential,medium densityand mixed-use.
Allura	truganina	319	1,381#	63	136,000 – 283,000	A masterplanned community incorporating residential, medium density, local parks
2009						and schools.
Selandra rise	clyde north	258	1,206	93	131,500 – 235,000	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.
the Address	Point cook	140	486	15	242,000 – 360,000	A premium boutique 33 hectare community in Point cook that will compromise 486
2015						new homes,a childcare centre and a 2 hectare central Park.
Arbourlea	cranbourne-berwick	73	322	83	139,000 – 252,000	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.
		7,842	30,646

total revenue generated throughout the life of the project
^ % Sold relates to contracts settled
** includes options taken over land
dwellings

STOCKLAND PROPERTY PORTFOLIO JunE 2015

residential cOmmunities residential POrtfOliO

MERNDA vILLAGES, vIC

mERNda villaGES iS aNothER aWaRd WiNNiNG commuNity locatEd iN mElBouRNE’S NoRthERN coRRidoR,juSt 35 miNutES fRom mElBouRNE’S cBd. thiS EStaBliShEd aNd thRiviNG commuNity iNcludES SchoolS aNd childcaRE SERvicES, a local toWNcENtRE iNcludiNG WoolWoRthS PluS ovER 70 hEctaRES of oPEN SPacE With 10 kilomEtRES of ShaREd WalkiNG aNd BikE tRackS foR RESidENtS to ENjoy.

==> picture [602 x 508] intentionally omitted <==

residential cOmmunities residential POrtfOliO

victoria – development pipeline

Property/		Total project
Acquisition date	Location	value ($m)*	Total lots	Price range ($)	Project description
clyde north	clyde north	190	797	n/A	the tuckers rd property is a 65 hectare parcel in clyde north, approximately 50 km from the
2015					melbourne cbd and 1.6km east of Stockland’s existing Selandra rise project. the property is within
					the fast growing casey corridor in melbourne’s South East. the land is included within the clyde
					creek Precinct Structure Plan (PSP) that was approved for development by the victorian State
					Government in november 2014. the project is expected to yield 800 residential lots and feature an
					attractive open space corridor alongclyde creek.
ivanhoe	ivanhoe	69	81#	n/A	Stockland is scheduled to launch a new townhome development in the blue chip suburb of ivanhoe in
2015					early Fy16. located 10 kilometres from the cbd the development comprises of 81 townhomes and is
					serviced by well-established amenity including shopping, transport and sought after public and private
					schools.
		259	878

total revenue generated throughout the life of the project
dwellings

STOCKLAND PROPERTY PORTFOLIO JunE 2015

residential cOmmunities residential POrtfOliO

vALE, WA

aN aWaRd-WiNNiNG, maStERPlaNNEd commuNity locatEd NEaR thE PictuRESquE SWaN vallEy WiNE REGioN 21 kilomEtRES NoRth-EaSt of PERth’S cBd. thE EStatE iNcoRPoRatES SchoolS, mEdium dENSity RESidENtial, a diStRict SPoRtiNG comPlEx, a REtail cENtRE, PuBlic oPEN SPacES aNd lakES.

==> picture [602 x 508] intentionally omitted <==

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	755	3,238#	43	120,000 – 370,000	An award-winning, masterplanned community located near the picturesque
2011						Swan valley wine region 21 kilometres north-east of Perth’s cbd. the estate will
						incorporate schools, medium density residential and completed homes, a district
						Sportingcomplex,a retail centre, public open spaces and lakes.
newhaven	Piara Waters	656	2,620	79	180,000 – 375,000	outstanding quality and originality of design have culminated in this award-winning
2001, 2005, 2007, 2014						masterplanned community. the project has combined residential, educational and
						recreational facilities within a sought after location resulting in a popular established
						neighbourhood.
calleya	banjup	510	1,676	18	206,000 – 382,000	calleya is an exciting new 145 hectare community that will ultimately feature over
2008						1,600 residential lots, a primary school and neighbourhood centre with 13 percent
						of the project dedicated to natural open space. located 18 kilometres from the
						Perth cbd, calleya is perfectly positioned close to key transport links; the kwinana
						Freewayand cockburn central railwaystation.
Whiteman Edge	brabham	504	2,159	47	165,000 – 277,000	Situated 20 kilometres north-east of Perth’s cbd, this masterplanned community will
2011, 2014						include over 2,000 homes. Whiteman Edge residents will enjoy a town centre, several
						parks and direct links to Whiteman Park.
Sienna Wood ***	brookdale	405	3,657	8	132,000 – 290,000	this joint venture with the department of housing in WA will create a new
2004, 2007, 2010						masterplanned community 30 kilometres south-east of the cbd. the project is set to
						produce over 3,600 lots over the next 15 years and will see the land transformed into
						a vibrant, cohesive community which will include multiple schools, a destination park
						and future town centre.
Amberton***	Eglinton	328	2,519	26	185,000 – 463,000	A private joint venture to create a well-designed community on Perth’s northern
2010						beaches. located approximately 45 kilometres from Perth’s cbd along a stretch
						of pristine coastline, the estate will feature tree-lined streets, public open spaces,
						children’splayground,shops and a beachside café.
corimbia	landsdale	311	1,001	90	280,000 – 380,000	located just 16 kilometres north of the cbd, corimbia is Stockland’s closest
2005, 2006, 2007, 2010,						residential community to the Perth cbd. tree-lined avenues are a signifcant aspect
2011,2013						of the estate,connectingwith the natural environment.
baldivis town centre	baldivis	47	161	98	n/A	baldivis town centre is comprised of retail, commercial, mixed-use lots and
2001						residential.
		3,516	17,031

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

STOCKLAND PROPERTY PORTFOLIO JunE 2015

retirement liVinG retirement POrtfOliO

SELANDRA RISE RETIREMENT vILLAGE, vIC

SElaNdRa RiSE offERS a StatE of thE aRt cluBhouSE facility dEdicatEd to thE NEEdS of ouR RESidENtS, With a GymNaSium, iNdooR hEatEd SWimmiNG Pool aNd SPa, liBRaRy, haiR SaloN, moviE thEatRE, louNGE zoNES, café aNd BaR, aNd a toWN hall foR daNciNG, commuNity EvENtS aNd iNdooR BoWlS.

==> picture [602 x 508] intentionally omitted <==

retirement liVinG retirement POrtfOliO

retirement living

Stockland is a top 3 retirement living operator within Australia, with over 9,300 established units across five states and the Act. the portfolio includes a short to medium term development pipeline of over 3,400 units.

==> picture [230 x 304] intentionally omitted <==

Fig tree village, Qld

Geographic split %*

==> picture [207 x 5] intentionally omitted <==

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

26 45 13 4 1 11
----- End of picture text -----

Established and pipeline units

==> picture [62 x 5] intentionally omitted <==

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

nSW vic Qld WA Act SA
----- End of picture text -----

STOCKLAND PROPERTY PORTFOLIO JunE 2015

retirement liVinG retirement POrtfOliO

NORTH LAKES, QLD a viBRaNt aNd fRiENdly RESoRt cENtRally locatEd WithiN thE NoRth lakES commuNity. NoRth lakES REtiREmENt RESoRt iS juSt a ShoRt Walk to ShoPS, lEiSuRE activitiES aNd mEdical facilitiES.

==> picture [602 x 508] intentionally omitted <==

retirement liVinG retirement POrtfOliO

Retirement Living – established villages

Property/
Opening date	Location	Total units	% Occupancy*	Price range ($)#	Project description
north lakes retirement	north lakes, Qld	352	95	132,000 – 600,000	located in one of Australia’s fastest growing regions, the north lakes retirement resort is only 35 minutes from brisbane
resort					and 30 minutes from brisbane international Airport. the resort layout provides security as well as an outstanding array
2005					of amenities. the resort is within the expanding north lakes town centre and easy walking distance from the shopping
					centre,health and educationprecincts.
the Willows retirement	Winston hills,	262	96	128,000 – 765,000	the Willows retirement village is situated at Winston hills in north-west Sydney. the village is close to shopping centres,
village	nSW				sports clubs, hospitals, 24-hour medical facilities and less than one kilometre to the m2 freeway leading to Sydney’s cbd.
1988
burnside village	burnside, vic	258	92	157,000 – 383,000	burnside village is located off the Western highway in melbourne’s burgeoning west, approximately 20 minutes from the
2002					melbourne cbd. virtuallynext door is burnside Shoppingcentre complete with two supermarkets and specialtyretail.
latrobe village	reservoir, vic	249	92	121,000 – 415,000	At latrobe village residents enjoy a convenient lifestyle living within walking distance of Summerhill village Shopping
1989					centre and close to transport,major hospitals,bundoora Park and Preston markets.
Somerton Park Seniors’	Somerton Park,	245	91	105,000 – 600,000	Somerton Park Seniors’ living community provides a wonderfully safe and secure environment with a wide range of
living community^	SA				activities and facilities on offer. there is a thriving residents’ vegetable garden, family barbecue areas and comfortable
1968					indoor and outdoor social spots.
bundoora village	bundoora, vic	242	97	179,000 – 588,000	bundoora village is situated close to the northern ring road, rmit university, shopping strips and is well serviced by
2003					public transport. the 6.7 hectare site enjoys excellent views over the PlentyvalleyGorge.
hillsview village	happy valley, SA	233	92	166,860 – 379,040	hillsview village is situated on a premier hillside site in happy valley with most of the units having spectacular views over
1982					the happyvalleyreservoir,or to the coastline of Gulf St vincent.
macarthur Gardens	campbelltown,	212	100	310,000 – 565,000	the village is conveniently located between macarthur Square shopping centre and campbelltown Golf club. village
retirement village^	nSW				facilities include bowling green, indoor pool, bar, café, outdoor chessboard, work shed, putting green and practice driving
2011					net.
Patterson lakes village	Patterson lakes,	207	86	126,500 – 355,500	Patterson lakes village is located directly opposite Patterson lakes Shopping centre and marina and features a central
1980	vic				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.
knox village	Wantirna South,	204	95	270,000 – 501,500	knox village enjoys an excellent location directly opposite knox Shopping centre, comprising cafés, restaurants, a cinema
1978	vic				complex and a wide range ofgroceryand retail outlets.
Plenty valley village	Epping, vic	204	97	174,500 – 550,000	Plenty valley village is situated off mcdonalds road in Epping, within close proximity to the nearby Epping shopping
2006					complex. the location is well serviced with transport,healthcare,medical and aged care facilities.
taylors hill village	taylors hill, vic	199	99	230,000 – 446,000	taylors hill village is located approximately fve minutes from the calder Freeway and Watergardens regional Shopping
2005					centre. the village features modern communityfacilities with both independent livingunits and apartments.
keilor village	keilor, vic	191	94	120,000 – 493,500	keilor village benefts from close proximity to the Western ring road and calder Freeway and bus services running directly
1997					past the site. it is a short distance to numerous shoppingoptions.
Gowanbrae village	Gowanbrae, vic	189	99	303,500 – 636,500	Gowanbrae village enjoys an excellent location ten kilometres north of melbourne’s cbd, providing quick access to the
2008					city, airport and surrounding suburbs. it has spacious grounds and the community centre includes a pool, library and
					bowling green.
cameron close village	burwood, vic	187	94	154,000 – 985,000	cameron close village is situated in burwood, close to the exclusive shopping and restaurant precincts of camberwell
1989					and canterbury and is well serviced by bus and tram routes linking to rail and chadstone shopping centre. Elevated parts
					of thepropertyenjoydistrict and cbd skyline views.
Salford Waters	victoria Point,	181	91	121,000 – 650,000	Situated on the moreton bay waterfront in victoria Point, Salford Waters retirement Estate is less than three kilometres to
retirement Estate	Qld				victoria Point Shopping centre and a half-hour drive to brisbane’s cbd.
1993
Arilla village^	South morang,	181	100	293,500 – 622,000	Arilla village is situated in melbourne’s north, a key growth corridor. the village comprises of a health and Wellbeing
2010	vic				centre with a swimming pool and a communitycentre with a bowling green.
Golden Ponds resort^	Forster, nSW	180	98	146,000 – 480,000	Golden Ponds resort is set between Wallis lake and the beaches of Forster on the nSW mid-north coast. Stockland
1988					completed and settled an additional 22 new homes in 2015.
Wantirna village	Wantirna, vic	180	95	126,000 – 469,500	Wantirna village benefts from an outstanding range of retail and transport amenities. the 6.3 hectare site adjoins the blind
1986					creek reserve and is close to the dandenong ranges national Park, morack and ringwood Golf course, knox library
					and several hospitals.

occupied units as proportion of Established units available for occupancy
Price range based on Established units

^ currently under development

STOCKLAND PROPERTY PORTFOLIO JunE 2015

retirement liVinG retirement POrtfOliO

CARDINAL FREEMAN RETIREMENT vILLAGE, NSW

thE RESidENcES at caRdiNal fREEmaN iS locatEd iN thE hiGhly SouGht aftER iNNER-WESt of SydNEy SuBuRB of aShfiEld coNvENiENtly cloSE to tRaNSPoRt liNkS, ShoPPiNG PREciNctS aNd mEdical SERvicES. StatE of thE aRt commuNity facilitiES oNSitE Will iNcludE a cluBhouSE With louNGE, BaR, SWimmiNG Pool, GymNaSium, aNd haiRdRESSiNG SaloN. thE NEW oNSitE café oPENEd iN fEBRuaRy 2015.

==> picture [602 x 508] intentionally omitted <==

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

artist’s impression
----- End of picture text -----

retirement liVinG retirement POrtfOliO

Retirement Living – established villages (continued)

Property/
Opening date	Location	Total units	% Occupancy*	Price range ($)#	Project description
Fig tree village	murrumba	178	99	316,000 – 485,000	Fig tree village is well located adjacent to a neighbourhood shopping centre with access to medical and recreational
2009	downs, Qld				facilities. the village offers a heated indoorpool,bowling green,bar,library, gym,billiards room and hair salon.
ridgehaven rise	ridgehaven, SA	176	97	90,000 – 434,300	this well established village has excellent community facilities including a community hall, library, caravan storage, the
Seniors’ living					Gums community centre and a village bus. this is complemented by an excellent range of community activities such as
community					sewing and craft, bingo and exercise groups.
1984
bellevue Gardens	Port macquarie,	175	97	223,000 – 411,000	the village is centrally located less than two kilometres from the Port macquarie city centre and is set on fve hectares of
retirement village	nSW				landscaped gardens. Facilities include a restaurant, coffee shop, auditorium, library, hair salon, medical consulting room,
1994					bowling green and resident clubhouse adjoininga heated indoor swimming pool and barbecue area.
the lakes Estate	taylors lake, vic	172	89	114,000 – 497,000	the lakes Estate is ideally located on the corner of kings road and melton highway, directly opposite Watergardens
2000					Shoppingcentre and railwaystation.
Salford Park community	Wantirna, vic	170	96	273,500 – 466,000	residents at Salford Park community village live independently in one or two bedroom low maintenance villas within a
village					friendly community surrounded by lush green gardens. there is an onsite aged care facility owned and operated by opal
1983					Aged care under thepartnershipestablished between Stockland and opal Aged care.
cardinal Freeman	Ashfeld, nSW	161	98	145,000 – 710,000	cardinal Freeman retirement village is set in the sought after inner-west suburb of Ashfeld. close to shops and transport,
retirement village^					the village features a magnifcent chapel along with the heritage listed Glentworth house. Stockland opened the new café
1980					in February2015 and continues construction of the new apartments,“the residences”.
bay village retirement	victor harbor,	160	91	160,000 – 360,000	located in one of South Australia’s most sought after resort areas, just minutes away from the town centre of victor
Estate	SA				harbor - great for shopping and entertainment.
1984
long island village	Frankston, vic	158	90	127,500 – 357,000	long island village is located just off the nepean highway, a short stroll from the Seaford foreshore. retail amenities
1987					servicing the village include Frankston, Patterson lakes and mt Eliza centres, all of which have grown substantially in
					recentyears.
lourdes retirement	killara, nSW	157	73	255,000 – 820,000	located in killara on Sydney’s north Shore, the village overlooks Garigal national Park. the village offers a central
village					clubhouse with coffee shop as well as a dining room, lounge, chapel, billiards room, hair salon, library, heated swimming
1983					pool and spa. there is an onsite aged care facility owned and operated by opal Aged care under the partnership
					established between Stockland and opal Aged care.
tarneit Skies retirement	tarneit, vic	156	94	192,000 – 406,500	tarneit Skies retirement village is located in melbourne’s western suburbs. the village features an indoor swimming pool,
village					spa, gymnasium, dining room, crafts room, computer suite and billiards.
2003
templestowe village	templestowe,	153	94	127,500 – 492,000	templestowe village is set out in a park-like environment opposite beautiful Westerfolds Park, which features walking
1983	vic				tracks alongthe banks of the yarra river,barbecue facilities andpicnic areas.
Pine lake village	Elanora, Qld	147	95	115,000 – 338,000	Pine lake village is located at Elanora on Queensland’s Gold coast and features a swimming pool and views of a nearby
1982					lake.
highlands retirement	craigieburn, vic	147	100	284,500 – 471,000	highlands retirement village is situated within Stockland’s highlands masterplanned community adjacent to the town
village^					centre. the community centre features a bowling green and town hall.
2010
donvale village	donvale, vic	145	95	133,000 – 534,000	donvale village is located on Springvale road in one of melbourne’s prime eastern suburbs, surrounded by high quality
1990					housingand a strong potential catchment to the north and north-east.
Parklands village	Port macquarie,	144	94	75,000 – 254,000	Parklands village is a private retreat set on fve hectares of landscaped parkland, just minutes from transport, medical
1985	nSW				facilities and the centre of Port macquarie. the village has a full-length artifcial grass bowling green and heated indoor
					swimming pool and spa.
the village Swansea	Swansea, nSW	141	96	236,500 – 419,000	located in the seaside peninsula township of Swansea, on the nSW central coast, the village is situated in close
1988					proximity to lake macquarie and Swansea Shopping centre. the village features three salt-water swimming pools and
					two communitycentres.
Waratah highlands	bargo, nSW	132	99	275,000 – 386,000	Set on ten hectares of woodland, Waratah highlands village is in close proximity to the Southern highlands and 500
village					metres to bargo railway station. the village features a hairdresser, beautician, library and billiards room.
2002

occupied units as proportion of Established units available for occupancy
Price range based on Established units
^ currently under development

STOCKLAND PROPERTY PORTFOLIO JunE 2015

retirement liVinG retirement POrtfOliO

AFFINITY vILLAGE, WA locatEd WithiN thE EStaBliShEd StocklaNd SEttlERS hill commuNity aNd oPPoSitE StocklaNd BaldiviS ShoPPiNG cENtRE, affiNity villaGE offERS a RaNGE of fREEStaNdiNG homES With a 5 StaR RatEd cluBhouSE, BoWliNG GREEN, Pool aNd WEllBEiNG cENtRE foR RESidENtS to ENjoy.

==> picture [602 x 508] intentionally omitted <==

retirement liVinG retirement POrtfOliO

Retirement Living – established villages (continued)

Property/
Opening date	Location	Total units	% Occupancy*	Price range ($)#	Project description
unity retirement village	Aberfoyle Park,	129	93	119,000 – 320,000	located in Aberfoyle Park, unity’s facilities include a bowling green, recreation hall, dining room, and half-court tennis. it is
1985	SA				walkingdistance to Aberfoyle Park shoppingcentre.
ridgecrest village	Page, Act	126	100	327,000 – 530,000	ridgecrest village at Page in canberra is spread over 5.4 hectares and has facilities including barbecue areas, a bowling
1986					green and residents’ lounge.
vermont village	vermont South,	125	93	267,000 – 396,500	vermont village benefts from an excellent location, plenty of open space and established gardens. located on burwood
1981	vic				highway near koomba Park, the village is close to several large shopping centres including vermont South, knox, the
					Glen and Forest hill.
bellcarra retirement	caloundra, Qld	124	100	278,500 – 336,000	located in the newly established suburb of bellvista, bellcarra retirement resort is close to the centre of caloundra and
resort					kings beach. the village features a swimming pool, bowling green and billiards room.
2003
Queens lake village	laurieton, nSW	124	95	188,000 – 405,000	Situated on the Queens lake waterfront, Queens lake village is equipped with its own private jetty. it is conveniently
1987					locatedjust one kilometre from laurieton’s town centre.
castle ridge resort	castle hill, nSW	113	91	338,000 – 645,000	castle ridge resort is less than two kilometres from castle towers shopping centre in castle hill with dural, carlingford,
1987					north rocks and Pennant hills within easy reach. it offers a swimming pool and spa, snooker and billiard room and a
					hairdresser.
the cove village	daleys Point,	112	97	240,000 – 630,000	Situated on the nSW central coast, the village boasts absolute water frontage with most units having views of brisbane
1983	nSW				Waters. the village has two outdoor barbecue areas,three swimming pools,a spa and aprivatejetty.
oak Grange	brighton East,	110	86	290,000 – 517,000	oak Grange is located on hawthorn road, brighton East, close to brighton’s famous beaches, shops and cafés. the
1984	vic				nepean highway provides easyaccess to the city.
rosebud village	rosebud, vic	105	98	174,500 – 348,000	rosebud village is located in the heart of the mornington Peninsula and is well serviced by the region’s many
1980					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.
Greenleaves retirement	upper mt	104	91	110,000 – 414,500	Greenleaves retirement village is adjacent to a shopping centre and cinemas and has facilities including a bowling green
village	Gravatt, Qld				and barbecue area.
1986
Affnity village^	baldivis, WA	103	97	317,000 – 535,000	incorporated into the Stockland residential Settlers hills community and adjacent to Stockland baldivis retail, medical and
2011					other amenities, Affnity village is located 38 kilometres south of Perth cbd and will be home to over 350 residents when
					complete. the clubhouse has achieved an Australian frst 5 Star Green Star – Public buildingrating.
Gillin Park retirement	Warrnambool,	100	78	97,000 – 357,000	located in Warrnambool, near the banks of the hopkins river on the south-west victorian coast, it is close to the city
village	vic				centre, hospital and shopping centres. there is an onsite aged care facility owned and operated by opal Aged care under
1990					thepartnershipestablished between Stockland and opal Aged care.
Selandra rise	cranbourne, vic	100	99	304,500 – 544,000	this village is located opposite a shopping centre within the Selandra rise residential community. the clubhouse features
retirement village^					an indoor heated pool, bowling green, bocce pitch and self-service café. the Green building council of Australia awarded
2013					an Australian frst 4 Star Green Star – custom design certifed ratingin december 2013.
maybrook village	cromer, nSW	98	86	96,000 – 630,000	Perched on the ridge at cromer on Sydney’s northern beaches, the village has a bushland outlook. it features a library and
1992					billiards room,agym and indoor-heatedpool and spa.
Farrington Grove	Ferny hills, Qld	95	96	165,000 – 539,500	Farrington Grove retirement Estate is a popular village located in the quiet outer brisbane suburb of Ferny hills. village
retirement Estate					facilities include billiards, solar-heated pool, barbecue area, hairdresser, piano lounge, computer room, library and hobby
1998					shed.
midlands terrace	north ballarat,	89	100	177,500 – 208,000	midlands terrace enjoys strong demand from prospective residents and is well positioned in its local market area. the
1976	vic				village adjoins northwayShoppingcentre withproximityto medical and communityfacilities.
Salford retirement	Aberfoyle Park,	74	95	266,000 – 312,000	located in the tree-studded foothills of South Australia’s Aberfoyle Park, Salford retirement Estate is 20 kilometres from
Estate	SA				Adelaide’s cbd and less than three kilometres to the local shopping centre.
1990
Walnut Grove	old reynella, SA	65	97	285,000 – 360,706	Walnut Grove retirement Estate is located in historic old reynella, a short distance from some of South Australia’s oldest
retirement Estate					vineyards and ideally situated near supermarkets and specialty shops.
1995

occupied units as proportion of Established units available for occupancy
Price range based on Established units
^ currently under development

STOCKLAND PROPERTY PORTFOLIO JunE 2015

retirement liVinG retirement POrtfOliO

MERNDA RETIREMENT vILLAGE, vIC

family aNd fRiENdS ExPloRE thE RaNGE of homES availaBlE at thE mERNda oPEN day. thE NEW mERNda cluBhouSE oPENEd iN fEBRuaRy 2015. mERNda villaGE RESidENtS aRE a ShoRt Walk to WoolWoRthS, SPEcialty StoRES aNd a mEdical cENtRE.

==> picture [602 x 508] intentionally omitted <==

retirement liVinG retirement POrtfOliO

Retirement Living – established villages (continued)

Property/
Opening date	Location	Total units	% Occupancy*	Price range ($)#	Project description
Wamberal Gardens	Wamberal, nSW	61	97	250,000 – 320,000	Wamberal Gardens retirement village is located on the nSW central coast adjacent to Wamberal lagoon with the beach
retirement village					just one block away. the village features two swimming pools, two outdoor barbecue areas, an activities room and library.
1983
mernda retirement	mernda, vic	59	100	289,000 – 506,500	located within the Stockland residential community, mernda retirement village is conveniently positioned next to the local
village^					neighbourhood shopping centre which features Woolworths, medical facilities and a range of specialty stores, cafés and
2014					services. the retirement village’s modern clubhouse features heated indoor pool, gym, café and alfresco entertaining area
					and bowling green.
the Grange retirement	Grange, SA	57	93	408,000 – 420,000	the Grange retirement Estate is located just over one kilometre from the seafront suburb of Grange and 12 kilometres
Estate					from Adelaide’s cbd. the village is in close proximity to public transport, hospital and shopping centres.
1992
camden view village	laurieton, nSW	54	96	267,000 – 413,000	camden view village is situated between north brother mountain and the camden haven river on the nSW mid-north
2002					coast. camden view is about 100 metres awayfrom the centre of laurieton.
lincoln Gardens	Port macquarie,	54	96	318,000 – 371,000	lincoln Gardens retirement village is ideally located in a quiet suburban enclave and is in close proximity to Port
retirement village	nSW				macquarie’s hospital and town centre.
2001
horizon at lightsview^	northgate, SA	48	98	299,000 – 419,000	horizon at lightsview is a new retirement development, forming part of lightsview – one of Adelaide’s newest suburbs,
2012					located just eight kilometres from the city centre. this new suburb features 15 hectares of public reserves and green
					spaces all interlinked with walkingtrails,manicuredgardens and recreation areas.
halls head village	halls head, WA	46	87	191,500 – 214,000	halls head village is a one hour drive south of Perth and three kilometres from mandurah. the village offers a hairdressing
1988					salon, podiatrist,library, pool table,indoor bowls and barbecue facilities. Public transport is available opposite the village.
macquarie Grove	tahmoor, nSW	43	98	219,000 – 236,000	macquarie Grove retirement village is located at the gateway to the Southern highlands. it is close to local clubs,
retirement village					recreational activities, medical services and transport. it features computer facilities, hairdresser, library and barbecue
1996					facilities.
leschenault village	bunbury, WA	38	95	288,500 – 335,000	close to the leschenault inlet, leschenault village is within easy walking distance of bunbury city centre. the village offers
1988					a wide range of amenities includinga bowling green and an outdoor entertainingarea overlookingthe establishedgardens.
murray river village	mandurah, WA	37	89	233,000 – 287,000	located one kilometre from bunbury, murray river village offers amenities including air-conditioned clubhouse with
1988					outdoor terrace and barbecue area,solar-heated swimming pool,lounge,hairdressingsalon, podiatrist room and library.
river Pines village	Wilson, WA	34	91	306,500 – 311,000	river Pines village, adjacent to the canning river, is situated within easy access of local shopping centres.
1988
river Parks village	Wilson, WA	33	85	312,000 – 325,000	river Parks village is set amongst private landscaped gardens adjacent to the canning river and located in Wilson, only
1988					13 kilometres from the centre of Perth.
the villas in brighton	brighton, SA	29	97	395,000 – 432,890	the villas in brighton is a small tight knit community offering stylish two and three bedroom villas in an idyllic location, just
1994					a short walk to Jettyroad brighton,beaches,shoppingand connections topublic transport.
bexley Gardens	bexley north,	22	100	106,000 – 190,000	located in south-west Sydney, bexley Gardens is only 800 metres from bexley north railway station that serves the East
1974	nSW				hills line into Sydneycbd. it is also in closeproximityto major shoppingcentres in hurstville,rockdale and kogarah.
the villas on milton	Fullerton, SA	4	100	499,550	located in the quiet, leafy streets of Fullarton are the four delightful villas known as the villas on milton Avenue.
Avenue
2001
		9,343

occupied units as proportion of Established units available for occupancy
Price range based on Established units
^ currently under development

STOCKLAND PROPERTY PORTFOLIO JunE 2015 73

retirement liVinG retirement POrtfOliO

CARDINAL FREEMAN RETIREMENT vILLAGE, NSW

thE RESidENcES at caRdiNal fREEmaN iS REdEfiNiNG REtiREmENt liviNG iN SydNEy’S iNNER WESt With itS majoR REdEvEloPmENt uNdER coNStRuctioN. comBiNiNG hERitaGE SitE fEatuRES With coNtEmPoRaRy liviNG, thE SalES aNd iNfoRmatioN cENtRE, iNcludiNG full ScalE diSPlay aPaRtmENt, oPENEd iN aPRil 2015.

==> picture [602 x 508] intentionally omitted <==

retirement liVinG retirement POrtfOliO

Retirement Living – development pipeline

		Future
Property	Location	settlements	Project description
completed
Fig tree village	murrumba downs, Qld	10	Fig tree village is well located adjacent to a neighbourhood shopping centre with access to medical and recreational facilities. the village offers a
			heated-indoorpool,bowling green,bar,library, gym,billiards room and hair salon.
Somerton Park Seniors’	Somerton Park, SA	10	Somerton Park Seniors’ living community provides a wonderfully safe and secure environment with a wide range of activities and facilities on offer.
livingcommunity			there is a thrivingresidents’ vegetablegarden,familybbQareas and comfortable indoor and outdoor social spots.
tarneit Skies	tarneit, vic	3	tarneit Skies retirement village is located in melbourne’s western suburbs. the village features an indoor swimming pool, spa, gymnasium, dining
			room,crafts room,computer suite and billiards.
north lakes	north lakes, Qld	2	located in one of Australia’s fastest growing regions, the north lakes retirement resort is only 35 minutes from brisbane and 30 minutes from
			brisbane international Airport. the resort layout provides security as well as an outstanding array of amenities. the resort is within the expanding
			north lakes town centre and easywalkingdistance from the shoppingcentre,health and educationprecincts.
SubTotal		25
current development
Projects
Willowdale	leppington, nSW	270	construction has commenced at Willowdale retirement village situated within Stockland’s existing Willowdale masterplanned community, 50
			kilometres south-west of Sydneycbd.
mernda	mernda, vic	215	located within the Stockland residential community, mernda retirement village is conveniently positioned next to the local neighbourhood
			shopping centre which features Woolworths, medical facilities and a range of specialty stores, cafés and services. the retirement village’s modern
			clubhouse features heated indoorpool, gym,café and alfresco entertainingarea and bowling green.
cardinal Freeman	Ashfeld, nSW	195	cardinal Freeman retirement village is set in the sought after inner-west suburb of Ashfeld. close to shops and transport, the village features a
			magnifcent chapel along with the heritage listed Glentworth house. Stockland recently commenced a major redevelopment of cardinal Freeman,
			which will include the deliveryof new apartments “the residences”.
Affnity	baldivis, WA	145	incorporated into the Stockland residential Settlers hills community and adjacent to Stockland baldivis retail, medical and other amenities, Affnity
			village is located 38 kilometres south of Perth cbd and will be home to over 350 residents when complete. the clubhouse has achieved an
			Australian frst 5 Star Green Star – Public buildingrating.
Selandra rise	cranbourne, vic	110	this village is located opposite a shopping centre within the Selandra rise residential community. the clubhouse features an indoor heated pool,
			bowling green, bocce pitch and self-service café. the Green building council of Australia awarded an Australian frst 4 Star Green Star – custom
			design certifed ratingin december 2013.
highlands	craigieburn, vic	70	highlands retirement village is situated within Stockland’s highlands masterplanned community and adjacent to the recently completed town
			centre. the communitycentre features a bowling green and town hall.
macarthur Gardens	campbelltown, nSW	50	the village is conveniently located between macarthur Square shopping centre and campbelltown Golf club. village facilities include bowling
			green,indoor swimming pool,bar,café,outdoor chessboard,work shed, putting green andpractice drivingnet.
Golden Ponds	Forster, nSW	25	Golden Ponds resort is set between Wallis lake and the beaches of Forster on the nSW mid-north coast. the resort is surrounded by 13
			hectares of landscapedgrounds, ponds and rainforest.
Arilla	South morang, vic	20	Arilla village is situated in melbourne’s north, a key growth corridor. the village comprises of a health and Wellbeing centre with a pool; and a
			communitycentre with a bowling green.
SubTotal		1,100
to start: within 18 months
Elara	marsden Park,nSW	280	A retirement livingopportunityexists within Stockland’s Elara masterplanned community,50 kilometres north-west of Sydneycbd.
calleya	banjup, WA	120	incorporated within Stockland’s calleya masterplanned community 18 kilometres south of Perth cbd, the site is close to the kwinana Freeway
			and Gatewayregional shoppingcentre.
north Shore	north Shore, Qld	120	incorporated within Stockland’s north Shore masterplanned community,this site is ten minutes from townsville beach and townsville cbd.
horizon at lightsview	northgate, SA	60	horizon at lightsview is a new retirement development, forming part of lightsview – one of Adelaide’s newest suburbs, located just eight
			kilometres from the city centre. this new suburb features 15 hectares of public reserves and green spaces all interlinked with walking trails,
			manicuredgardens and recreation areas.
SubTotal		580

STOCKLAND PROPERTY PORTFOLIO JunE 2015 75

retirement liVinG retirement POrtfOliO

GOLDEN PONDS RETIREMENT RESORT, FORSTER, NSW

GoldEN PoNdS iS a coaStal REtiREmENt REtREat idEally PoSitioNEd BEtWEEN maGNificENt WalliS lakE aNd thE WhitE SaNdy BEachES of foRStER oN thE NSW NoRth coaSt, aNd WithiN thREE kilomEtRES of StocklaNd foRStER.

==> picture [602 x 508] intentionally omitted <==

retirement liVinG retirement POrtfOliO

Retirement Living – development pipeline (continued)

		Future
Property	Location	settlements	Project description
master planning/future
projects
caloundra South	caloundra, Qld	400	there is an opportunity for retirement communities within Stockland’s 3,700 hectare caloundra South project which will include at least 20,000
			residential dwellings,employment and retail. these will be developed as the broaderproject comes to market.
the Grove (formerly davis	tarneit, vic	370	there is an opportunity for retirement communities within Stockland’s the Grove masterplanned community, 28 kilometres west of melbourne
road)			cbd.
cloverton (formerly	kalkallo/beveridge, vic	250	A retirement living opportunity exists within Stockland’s cloverton masterplanned community, 35 kilometres north of melbourne cbd.
lockerbie)
Somerton Park Seniors’	Somerton Park, SA	70	Somerton Park Seniors’ living community provides a wonderfully safe and secure environment with a wide range of activities and facilities on offer.
livingcommunity			there is a thrivingresidents’ vegetablegarden,familybbQareas and comfortable indoor and outdoor social spots.
SubTotal		1,090
Brownfeld redevelopments
Potential redevelopments		645	Potential opportunities exist for major redevelopments and minor extensions at a number of villages across the retirement living portfolio.
SubTotal		645
Total unitsyet to be released		3,440

STOCKLAND PROPERTY PORTFOLIO JunE 2015 77

retirement liVinG retirement POrtfOliO

MACARTHuR GARDENS, NSW

comPRiSiNG iNNovativE dWElliNG dESiGNS, iNcludiNG SEvEN ilu flooR PlaNS aS WEll aS ovER/uNdER PRoduct (PictuREd) to takE advaNtaGE of thE SloPiNG SitE, macaRthuR GaRdENS REtiREmENt villaGE iS a viBRaNt aNd activE commuNity. it iS coNvENiENtly locatEd BEtWEEN macaRthuR SquaRE ShoPPiNG cENtRE aNd camPBElltoWN Golf cluB. villaGE facilitiES iNcludE a BoWliNG GREEN, iNdooR SWimmiNG Pool, BaR, café, outdooR chESSBoaRd, WoRk ShEd, PuttiNG GREEN aNd PRacticE dRiviNG NEt.

==> picture [602 x 508] intentionally omitted <==

unlisted PrOPerty funds

unlisted Property Funds

==> picture [230 x 304] intentionally omitted <==

Freshwater, Qld

STOCKLAND PROPERTY PORTFOLIO JunE 2015

unlisted PrOPerty funds

unlisted Property Funds – summary

~~unlisted Property Funds – summary~~
		Funds under	Establishment	Expiry/
Fund	Type of fund	management ($m)	date	review date
Stockland direct retail trust no. 1(Sdrt1)	retail	79.3*	dec 2006	Jun 2019
Stockland residential Estates EquityFund no. 1(SrEEF1)	Wholesale	31.1**	Aug2006	Aug2016
		110.4

Represents gross assets.

** Represents the total of SREEf1’s total committed equity (less capital returned to unit holders) and drawn debt at 30 june 2015.

~~unlisted~~	~~Property Funds – asset overview~~
				%	Book value	valuation		% age of fund’s
	Property type	Property	State	Ownership	($m)	($m)	GLA (m2)	total gross assets	Page
Sdrt1	retail	benowa Gardens	Qld	100	39.0	39.0	5,764	49	81
		Pacifc Pines	Qld	100	24.0	24.0	5,529	30	81
		tamworth homespace	nSW	100	15.6	15.6	13,053	20	81
SrEEF1	residential	Freshwater	Qld	80	128.7*	n/A	n/A	49	55
	communities	hundred hills	nSW	50	31.5*	n/A	n/A	12	55
		ormeau ridge	Qld	50	103.3*	n/A	n/A	39	55

fund share of total project value defined as total gross revenue generated throughout the life of the project.

unlisted PrOPerty funds

==> picture [230 x 123] intentionally omitted <==

~~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. the centre is anchored with a coles supermarket and over 40 specialty retailers. there is onsite parking for 437 vehicles, including 200 covered bays.

Location: Qld

Location: Qld
acquisition date:	dec 2006
ownership/title:	100%/freehold
cost includingadditions:	$28.7 million

Last Independent valuation
date:	jun 2015
valuation/($/m2):	$39.0 million($6,766/m2)
capitalisation rate:	7.25%
discount rate:	8.75%
carparkingspaces:	437

Gross lettable area:	5,764
annual sales:	$58.0 million
Weighted average lease expiry:	4.3years

Major tenants	GLA(m2)
coles	1,960

==> picture [230 x 123] intentionally omitted <==

~~Pacifc Pines Town Centre~~

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:	$18.5 million

Last Independent valuation
date:	jun 2015
valuation/($/m2):	$24.0 million($4,341/m2)
capitalisation rate:	7.00%
discount rate:	8.50%
carparkingspaces:	355

Gross lettable area:	5,529
annual sales:	$55.1 million
Weighted average lease expiry:	6.5years

Major tenants	GLA(m2)
Woolworths	3,541

==> picture [230 x 123] intentionally omitted <==

~~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:	$22.3 million

Last Independent valuation
date:	jun 2015
valuation/($/m2):	$15.6 million($1,195/m2)
capitalisation rate:	9.50%
discount rate:	9.50%
carparkingspaces:	416

Gross lettable area:	13,053
annual sales:	N/a
Weighted average lease expiry:	2.5years

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

Lease expiry profile %

==> picture [230 x 21] intentionally omitted <==

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

6 7 6 19 11 51
----- End of picture text -----

==> picture [230 x 21] intentionally omitted <==

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

4 3 8 3 2 80
----- End of picture text -----

==> picture [230 x 21] intentionally omitted <==

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

25 24 12 12 28
----- End of picture text -----

vacant Fy

STOCKLAND PROPERTY PORTFOLIO JunE 2015

16 17 18 19 20+

unlisted PrOPerty funds

ORMEAu RIDGE, QLD coNvENiENtly locatEd half Way BEtWEEN BRiSBaNE aNd thE Gold coaSt BEachES. thE commuNity fEatuRES iNcludE a oNE hEctaRE PaRk, advENtuRE PlayGRouNd aNd commERcial SitE PlaNNEd foR childcaRE aNd coNvENiENcE.

==> picture [602 x 508] intentionally omitted <==

aPartments

Apartments

==> picture [230 x 304] intentionally omitted <==

the islands, WA

STOCKLAND PROPERTY PORTFOLIO JunE 2015

aPartments

~~Apartments – released to market~~
Property/
Acquisition date
Location
Total project
value ($m)
Total units
%
Sold^
Current
price range ($)
Project description
the islands^^^
2007
Southbeach, Perth,
WA
n/A
101
49
n/A
located just minutes from Fremantle on the cockburn coast, the site offers
apartments and beach houses with spectacular panoramic views of Garden, carnac
and rottnest islands as well as Fremantle harbour.
–
101*

total revenue generated throughout the life of the project
^ % Sold relates to contracts exchanged and settled
^^^ identified for disposal

Important Notice

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.

==> picture [88 x 74] intentionally omitted <==

While every effort is made to provide accurate and complete information, Stockland does not warrant or represent that the information in this presentation is free from errors or omissions or is suitable for your intended use. this presentation contains forward-looking statements, including statements regarding future earnings and distributions that are based on information and assumptions available to us as of the date of this presentation. actual results, performance or achievements could be significantly different from those expressed in, or implied by these forward looking statements. these forward-looking statements are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results to differ materially from those expressed in the statements contained in the release.

the information provided in this presentation may not be suitable for your specific needs and should not be relied upon by you in substitution of you obtaining independent advice. 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 this presentation. all information in this presentation is subject to change without notice.

this presentation is not an offer or an invitation to acquire Stockland stapled securities or any other financial products in any jurisdictions, and is not a prospectus, product disclosure statements or other offering document under australian law or any other law. it is for information purposes only.

Stockland Corporation Limited ACN 000 181 733

Stockland Trust Management Limited ACN 001 900 741; AFSL 241190

As a responsible entity for Stockland Trust ARSN 092 897 348

25th Floor 133 Castlereagh Street SYDNEY NSW 2000

AI assistant

STOCKLAND — Fund Information / Factsheet 2015

65781_rns_2015-08-18_a4d70fb5-55a0-4556-8a74-3c1d9e08c173.pdf

Our PrOPerty POrtfOliO

Our stOry

Property Portfolio

~~cOmmercial POrtfOliO~~

~~residential POrtfOliO~~

residential communities (page 47)

~~retirement POrtfOliO~~

~~POrtfOliO~~

KEY

KEY

VictOria

retail

Lease expiry profile %*

~~Retail Portfolio as at 30 June 2015~~

includes townsville kmart centre

~~Stockland Shellharbour~~

Location: Shellharbour, NSW

~~Shellharbour Retail Park~~

Location: Shellharbour, NSW

~~Stockland Wetherill Park~~

Location: Western Sydney, NSW

Lease expiry profile %

Location: Rockhampton, Qld

~~Stockland Green Hills~~

Location: East Maitland, NSW

~~Stockland Glendale~~

Location: Newcastle, NSW

~~Stockland Cairns~~

Location: Cairns, Qld

Last independent valuation

~~Stockland Townsville~~

Location: Townsville, Qld

Location: Hervey Bay, Qld

Last independent valuation

~~Stockland Baldivis~~

Location: Baldivis, WA

Lease expiry profile %

Pre development valuation

retail cOmmercial POrtfOliO

Location: Burleigh Heads, Qld

Location: Forster, NSW

~~Stockland The Pines~~

Location: Doncaster East, vic

Lease expiry profile %

~~Stockland Gladstone~~

~~Stockland Jesmond~~

Location: Gladstone, Qld

Location: Newcastle, NSW

~~Stockland Wendouree~~

Location: Wendouree, vic

Location: Baulkham Hills, NSW

~~Stockland Caloundra/Stockland South~~

Location: Caloundra, Qld

Lease expiry profile %

Location: Nowra, NSW

Location: Bull Creek, WA

~~Stockland Traralgon~~

Location: Traralgon, vic

Lease expiry profile %

~~Stockland Cleveland~~

Location: Cleveland, Qld

~~Stockland Bathurst~~

Location: Bathurst, NSW

~~Stockland Corrimal~~

Location: Corrimal, NSW

Lease expiry profile %

Location: Wallsend, NSW

~~Stockland Riverton~~

Location: Riverton, WA

Lease expiry profile %

~~Stockland Tooronga~~

~~Glasshouse - 135 King Street, Sydney~~

Location: Sydney CBD, NSW

Lease expiry profile %

Location: Sydney CBD, NSW

~~Stockland North Shore~~

Location: North Shore, Qld

STOCKLAND Fund Information / Factsheet 2015

cOmmercial POrtfOliO

residential POrtfOliO

retirement POrtfOliO

POrtfOliO

Retail Portfolio as at 30 June 2015

Stockland Shellharbour

Shellharbour Retail Park

Stockland Wetherill Park

Stockland Green Hills

Stockland Glendale

Stockland Cairns

Stockland Townsville

Stockland Baldivis

Stockland The Pines

Stockland Gladstone

Stockland Jesmond

Stockland Wendouree

Stockland Caloundra/Stockland South

Stockland Traralgon

Stockland Cleveland

Stockland Bathurst

Stockland Corrimal

Stockland Riverton

Stockland Tooronga

Glasshouse - 135 King Street, Sydney

Stockland North Shore

Stockland Harrisdale

Woolworths Toowong

Stockland vincentia Shopping Centre

Balcatta Distribution Centre

Toll Business Park

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

Cherry Lane

Baker St

Triniti Business Campus

Offce Portfolio as at 30 June 2015

Waterfront Place

Piccadilly Complex

Durack Centre

110 Walker Street

NSW – released to market

NSW – development pipeline