Our Strategy
STRATEGIC FOCUS
IN 2008/09
Own
- WORLD CLASS QUALITY PORTFOLIO
- STRATEGIC LOCATIONS IN AUSTRALIA AND SELECT MARKETS
- MARKET LEADER IN OFFICE AND INDUSTRIAL
- FINANCIAL STRENGTH
- ACTIVE CAPITAL MANAGEMENT
- Maintain leadership positions:
No.1 in office and No.3 in industrial in Australia - Progress selected non-core property sales
- Commence the repositioning of our international portfolio to concentrate on fewer markets
- Strengthen our balance sheet and further diversify funding sources
Manage
- FULLY INTEGRATED PROPERTY MANAGEMENT MODEL
- DELIVERING SERVICE EXCELLENCE
TO OUR TENANTS AND INVESTORS - MAXIMISING RETURNS
- Progress the integration of our property management model across our portfolios
- Continue our active property management focus, delivering strong operating results
- Maintain our leadership position in Corporate Responsibility and Sustainability
Develop
- SELECTIVE DEVELOPMENTS CREATING VALUE
- SUSTAINABLE DESIGN
- HIGH QUALITY WORKSPACES
- Progress the next generation of quality office and industrial workspaces with our 6 star office developments at 1 Bligh Street and 123 Albert Street and our industrial development land banks strategically located at Laverton North and Greystanes
KEY INITIATIVES AND
ACHIEVEMENTS 2008/09
OCT08 NOV
08 DEC
08 FEB
09 APR
09 APR
09 MAY
09 MAY
09 JUN
09
October 08
- Secured major tenant — Clayton Utz — at 1 Bligh Street
November 08
- Secured US$90 million facility to refinance a US$74 million debt facility and provide additional working capital
- Secured refinancing of A$500 million CMBS
December 08
$313m
- Completed institutional placement raising $301.6 million
- Completed security holder purchase plan of $11.6 million
February 09
- Created a joint venture partnership with Cbus Property who acquired a one-third interest in 1 Bligh Street
- Recognised as one of the Global 100 Most Sustainable Corporations at Davos, Switzerland
April 09
- Commenced selected property sale program in Australia, North America and Europe consistent with our strategy to focus primarily on core office and industrial properties in select markets
April 09
$658m
- Completed an institutional placement and an institutional entitlement offer raising $658 million
May 09
- Completed internalisation of property management in office portfolio
- Closed retail entitlement offer raising $91 million
- 5 Star NABERS agreement executed for 123 Albert Street
May 09
- Major milestone reached in the construction at 1 Bligh Street with the completion of development excavation and commencement of construction
Jun 08
- Agreed 12 industrial properties for sale and one office property raising $96 million in the property sales program
- 123 Albert Street development reached ground level with the three level basement completed