Annual Report 2006–07 Report Annual Sydney Olympic Park Authority Park Olympic Sydney

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Annual Report 2006–07 Report Annual Sydney Olympic Park Authority Park Olympic Sydney Sydney Olympic Park Authority Olympic Park Sydney Annual ReportAnnual 2006–07 Sydney Olympic Park Authority Olympic Park Sydney Annual Report 2006–07 Letter to the Minister 31 October 2007 The Hon. Frank Sartor MP Minister for Planning, Minister for the Arts and Minister for Redfern/Waterloo Level 34 Governor Macquarie Tower 1 Farrer Place Sydney NSW 2000 Dear Minister, We have great pleasure in presenting the Annual Report of Sydney Olympic Park Authority for the financial year ended 30 June 2007 for presentation to the Parliament. The report has been prepared in accordance with the provisions of the Annual Reports (Statutory Bodies) Act 1984 and the Annual Reports (Statutory Bodies) Regulation 2005. The report details the work, achievements and relevant statutory and financial information of Sydney Olympic Park Authority. Yours sincerely Michael Knight AO Chairman, Sydney Olympic Park Authority Brian Newman Chief Executive Officer, Sydney Olympic Park Authority Letter to the Minister Chairman’s Report Sydney Olympic Park became well-known around the world during the Sydney 2000 Olympic and Paralympic Games. However, for the people of New South Wales, it already had become a special place where major sporting events, premium indoor entertainment and the annual Sydney Royal Easter Shows take place. And while it is important to Throughout 2006–07, Sydney The Minister responsible for appreciate and celebrate the Olympic Park Authority made Sydney Olympic Park for most of past, Sydney Olympic Park significant progress in all of 2006–07, the Honourable Sandra Authority needs to focus on these areas. That progress is Nori, retired from Parliament in the future. The Park itself detailed in this Annual Report. March this year. Responsibility is not frozen in time and for Sydney Olympic Park is constantly evolving. Personally, I can claim no shifted from the Minister credit for those achievements for Sport to the Minister for Consequently, the Authority has since I did not join the Board Planning and our new Minister faced many new challenges in until 1 July this year. These is the Hon. Frank Sartor. the last 12 months and will face achievements have been the many more in the years ahead. work of the Board, the staff The Board appreciates the In particular, the Authority must: and particularly the outgoing strong support which Sandra Chairman, David Richmond. Nori gave to the Park over several • continue to nurture Sydney years and wishes her a happy Olympic Park as the premier David Richmond was a driving and active life after politics. sporting and events location force behind the creation of in New South Wales Sydney Olympic Park in the I also want to thank the lead-up to the Olympic Games. Board, Brian Newman and • support and enhance He later became the first his staff for all of their hard the magnificent public Chairman of Sydney Olympic work over the last year. I look parklands that adjoin the Park Authority and has been forward to working with them sporting and commercial integral to its achievements. on our future challenges. facilities; and promote them to a wider audience David has only given up Yours sincerely his formal association with • facilitate commercial and Sydney Olympic Park because residential development he was recently appointed to make the urban core the first Coordinator General an active and vibrant of New South Wales. Michael Knight AO place all the time, not just Chairman, during major events The Board thanks David for Sydney Olympic Park Authority his outstanding contributions • pursue these objectives in and wishes him well in his a way which respects the own future challenges. Olympic legacy and the iconic nature of the site and which demonstrates an enduring commitment to the principles of environmentally sustainable development. Chairman’s Report CEO’s Report & Executive Summary This year has witnessed further significant progress in Sydney Olympic Park’s journey from gold medal sporting and events precinct to an emerging urban centre and a special place for recreation and enjoyment… especially our diverse parkland system. The urban transformation of property area this year has Visitation to the Park continues Sydney Olympic Park is now been the rapid progress of to rise, reaching 8.2 million well underway – our vision is construction on the first of the for 2006, well on track for the to create a unique integrated Commonwealth Bank buildings Authority’s target of 10 million township that balances its on site 5. Some 1,300 Bank staff visitors annually by 2010. Key principle roles as Australia’s have commenced relocating into drivers of this sustained growth premier events precinct and this building and we look forward include increasing usage of as a vibrant, mixed-use centre to their contribution to the daily the parklands, ever more major offering a lifestyle-based option activity within the Park. The CBA sporting, entertainment and for working, learning and living. development will eventually business events across the In the long-term we are planning incorporate 3,500 m2 of ground Park’s entire range of venues, to create over 6,500 dwellings, floor retail space, adding and increasing visitation work space for around 16,000 handsomely to the Park’s retail from business activities. workers and education space offer and social infrastructure. for over 5,000 students. This The Authority’s economic ‘resident’ population will be By years’ end the value of development strategy for supplemented by a growing private sector commitments Sydney Olympic Park, which number of visitors attracted to new property development promotes business opportunities to the Park for business events, projects had exceeded $1.1 across the themes of sport; entertainment, passive and active billion with a further $140 education; health, leisure and recreational pursuits, hotel stays, million of new development well-being; environment; education experiences etc. opportunities under negotiation. events; and culture, the arts This pipeline of new projects and entertainment, continues The process of urban change will ensure that construction to produce positive results. at Sydney Olympic Park is activity will be evident through manifested by the appearance to 2012, whilst in which time In particular, the agreement to of a growing number of cranes new projects are expected to build a new sports and specialist on the Park’s skyline. Currently, surface, either through the hospital on Olympic Boulevard, construction is underway at Authority’s activities or those construction of a new Olympic- five locations around the Park of private developers/lessees. standard BMX course and the – sites 5, 6 and 7 will house an continued growth of business office campus for some 3,500 In the parklands we are events hosted within the Park Commonwealth Bank of Australia continuing to enhance the all provide tangible examples of staff, whilst sites 4 and 35 will quality of our recreational spaces. the benefits of the Authority’s house two new hotels in the During the year we opened two economic development strategy. Accor Group’s stable – one five exceptional facilities – the 20- The ever-improving performance star, the other two star – giving hectare Blaxland Riverside Park of our privately-operated venues, the Park a compliment of 650 and a new adventure playground including Telstra Stadium hotel rooms. These projects will within Wentworth Common. and Acer Arena, was another be joined in the near future by at Both of these initiatives are part highlight of the year in review. least three other development of our continuing strategy to Their performance clearly shows sites, all of which attest to the satisfy a growing demand for that they have overcome any widespread interest in Sydney recreational space emanating post-Olympic issues and are Olympic Park by developers from a rapidly growing sub- now performing in the top and investors and tenants. regional population and wider metropolitan recognition of the quartile of comparable venues Without doubt the most uniqueness of Sydney Olympic in the world. Their outstanding significant initiative in the Park’s 425-hectares of parklands. achievements are a key driver CEO’s Report & Executive Summary of the Park’s visitation whilst Olympic Park continues to For example, in December the outlook for their business be protected and enhanced 2006, 88% of material taken prospects remains very positive. through sustainable from Sydney Olympic Park was practices applied to visitation, recycled whilst only 12% went The ongoing growth of the operational management to landfill. This compares to Sydney Showground’s conference and development activities. previous figures of 11% and 89% and exhibition business has respectively. The Authority is enabled the Royal Agricultural During the year the Authority continually seeking to improve Society of NSW to invest completed a Wetlands Operation its performance in this area. in upgrading the Society’s Management Plan, the first venues and infrastructure. In ‘whole of Park’ plan which Improving the quality of the addition, the annual Sydney provides resource guidance and visitor experience at Sydney Royal Easter Show, which this operational priorities for the Olympic Park is an essential year celebrated its tenth year next three years to deliver more facet of the Authority’s at the Park, attracted almost effective management of the business. In this regard we 900,000 visitors, once again Sydney Olympic Park wetlands. constantly seek to develop making a significant
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