For Personal Use Only Use Personal for Mirvac Real Estate Investment Trust

June 2009 Mirvac Real Estate Investment Trust

Investment Portfolio Summary For personal use only use personal For Mirvac Real Estate Investment Trust

Contents

Investment Portfolio Overview 1

MREIT Portfolio Overview 2

Portfolio Summary 3

Commercial Portfolio 4

Retail Portfolio 8

Industrial/Business Park Portfolio 14

Hotel Portfolio 19

Directory 20 For personal use only use personal For FinancialInvestment highlights Portfolio Overview

Direct Property Diversification

Asset diversification (by Book value) Geographic diversification (by Book value)

Retail 36% New South Wales 61%

Commercial 31% Queensland 22%

Industrial/ Victoria 11% Business Park 17% Australian Capital Territory 4% Hotels 16% Western Australia 1%

New Zealand 1%

Lease expiry profile (by area) Lease expiry profile (by income)

100 100

80 80

ea (%) ea 60 60

40 40 able ar oss Income (%) Income oss Lett

20 Gr 20

0 0 0 1 2 3 4 0 1 2 3 4 nt -1 -1 nt -1 -1 ca 10-1 11-1 ond ca 10 11-1 ond y 09-1 y va 009 20 20 012 013-1 be va 20 20 012 013-1 be 2 2 2 20 2 2 Financial year Financial year

Top 10 tenants Tenant % of gross income Travelodge 10.2 Macquarie Bank 10.0 Woolworths 8.1 BOC Limited 4.3 GM Holden Limited 4.0 Coles 3.6 Government 3.6 For personal use only use personal For Star Track Express 2.6 Exel Australia 2.6 Pacific Brands 2.2 Total 51.2

Mirvac Real Estate Investment Trust Investment Portfolio Summary – June 2009 1 KeyMREIT drivers Portfolio Overview

Key Mirvac Real Estate Investment Trust is an externally managed, diversified, ASX-listed property trust in Australia with $1.0 billion1 of assets predominantly located on the eastern seaboard.

Commercial Retail

For personal use only use personal For Industrial Hotels

1 Includes MREIT’s investments in Mirvac Wholesale Hotel Fund ($21.0 million).

2 Mirvac Real Estate Investment Trust Investment Portfolio summary – June 2009 Portfolio Summary

Property Location Asset Acquisition Independent Independent Book Capitalisation Lettable Financial highlights Ownership date valuation valuation value rate area/rooms (%) date ($m) ($m) (%) (sqm) Commercial 10-20 Bond Street, Sydney NSW 50 Jul 04 Jun 09 109.0 109.0 7.50 37,860 3 Rider Boulevard, Rhodes NSW 100 Jan 07 Jun 09 70.0 70.0 8.00 16,714 340 Adelaide Street, Brisbane QLD 100 Sep 98 Jun 09 63.0 63.0 9.00 13,290 12 Cribb Street, Milton QLD 100 Apr 99 Dec 08 18.5 15.0 9.00 3,310 191-197 Salmon Street, Port Melbourne VIC 50 Jul 03 Jun 09 46.5 46.51 8.25 21,763 591-609 Doncaster Road, Doncaster VIC 100 Jun 02 Dec 08 21.8 17.3 9.50 8,921 Total Commercial 328.8 320.8 8.19 101,858 Retail Cherrybrook Village Shopping Centre, Cherrybrook NSW 100 Jun 05 Jun 09 75.0 75.0 7.25 9,492 Taree City Centre, Taree NSW 100 Jul 01 (50%) Jun 09 54.0 54.0 8.00 15,553 Nov 04 (50%) Moonee Beach Shopping Centre, Coffs Harbour NSW 100 Feb 07 Dec 08 18.0 15.3 9.50 10,884 Chester Square Shopping Centre, Chester Hill NSW 100 Mar 07 Jun 09 28.0 28.0 8.25 8,293 Pender Place Shopping Centre, Maitland NSW 100 Sep 07 Dec 08 11.0 10.3 9.25 4,799 Orion Springfield Town Centre, Greater Springfield QLD 33 Jun 03 Dec 08 46.8 46.81 6.50 33,370 City Centre Plaza, Rockhampton QLD 100 Mar 04 Jun 09 45.0 45.0 8.00 14,107 Morayfield SupaCentre, Morayfield QLD 100 Sep 07 Dec 08 36.5 35.5 9.25 22,325 Orion, Greater Springfield (Vacant Land) QLD 33 Jun 03 Jun 09 10.3 10.31 N/A N/A Morayfield SupaCentre, Morayfield (Vacant Land) QLD 100 Sep 07 Dec 08 3.5 3.5 N/A N/A Cooleman Court, Weston ACT 100 Jul 01 (50%) Jun 09 47.6 47.6 7.75 10,714 Nov 04 (50%) Total Retail 375.8 371.3 7.86 129,536 Industrial 10 Julius Avenue, North Ryde NSW 100 Dec 05 Jun 09 56.0 56.0 8.00 13,386 32 Sargents Road, Minchinbury NSW 100 Feb 04 Jun 09 23.7 23.7 8.75 22,378 12 Julius Avenue, North Ryde NSW 100 Nov 99 Jun 09 24.5 24.5 8.25 7,308 108-120 Silverwater Road, Silverwater NSW 100 Mar 00 Dec 08 27.2 25.3 8.75 17,830 52 Huntingwood Drive, Huntingwood NSW 100 Nov 04 Jun 09 22.8 22.8 8.75 19,286 Network, Old Wallgrove Road, Eastern Creek NSW 50 Jun 04 Oct 08 7.0 7.01 N/A N/A 47-67 Westgate Drive, Altona North VIC 100 Sep 07 Dec 08 22.5 20.0 9.00 27,081 Total Industrial/Business Park 183.7 179.3 8.46 107,268 Hotels Travelodge (13 hotels) NSW 49 Mar 05 Nov 07 171.6 172.61 9.56 2,045 rooms QLD – Mar 08 – Jun 09 VIC WA NZ Total Hotels 171.6 172.6 9.56 2,045 rooms TOTAL PROPERTY PORTFOLIO 1,059.9 1,043.9 8.35 338,662

1 MREIT has an interest in this asset through units in a trust. Book value reflects MREIT’s share of core property value, not the holding value of the

investment units. For personal use only use personal For

Mirvac Real Estate Investment Trust Investment Portfolio Summary – June 2009 3 Commercial Portfolio

Commercial Key Statistics

Vacancy 5.3% of NLA 3.8% of NLA at June 2008

Average lease expiry (by area) 4.6 years 4.8 years at June 2008

Area leased 12 months to 30 June 2009 9,909 sqm 9.7% of commercial portfolio

Lease expiry profile (by area) Lease expiry profile (by gross income)

100 100

80 80

ea (%) ea 60 60

40 40 able ar oss Income (%) Income oss Lett

20 Gr 20 For personal use only use personal For

0 0 0 1 2 3 4 0 1 2 3 4 nt -1 -1 nt -1 -1 ca 10 11-1 ond ca 10 11-1 ond 09-1 y 09-1 y va 20 20 012 013-1 be va 20 20 012 013-1 be 20 2 2 20 2 2 Financial year Financial year

4 Mirvac Real Estate Investment Trust Investment Portfolio summary – June 2009 10–20 Bond Street 3 Rider Boulevard Sydney, NSW Rhodes, NSW

Located in the heart of the Sydney CBD, opposite Australia Square, Located in the heart of the commercial area of Rhodes, 3 Rider 10–20 Bond Street is a landmark office complex. It comprises a Boulevard is a modern, seven level office building with three seven level building known as 10 Bond Street and a 30 level retail shops on the ground floor and 326 basement car spaces. ’A Grade’ office tower known as 20 Bond Street, together with Completed in late 2005, this asset features large and flexible a retail plaza at ground level, which provides a link between floor plates, a 4.0 star NABERS rating and quality finishes the two towers. throughout. The area is well serviced by road, train and ferry.

Property Details Property Details Type Commercial Type Commercial Site area 3,250 sqm Site area 3,678 sqm Lettable area 37,860 sqm Lettable area 16,714 sqm Car spaces 169 Car spaces 326 Title Freehold Title Freehold Ownership 50% Ownership 100% Acquisition date July 2004 Acquisition date January 2007 Valuation (50% interest) $109.0 million Valuation $70.0 million Valuation date 30 June 2009 Valuation date 30 June 2009 Book value $109.0 million Book value $70.0 million Occupancy 100% Occupancy 92.9% Major tenants Macquarie Bank (27,015 sqm) Major tenants AAP (3,642 sqm) GHD (3,667 sqm) Cardlink Services (2,216 sqm) Fitness First Australia (3,203 sqm) Coffey Corp (1,265 sqm)

For personal use only use personal For Lease expiry profile (by area) Lease expiry profile (by area)

100 100 80 80

ea (%) ea 60 (%) ea 60 40 40

able ar 20 able ar 20

Lett 0 Lett 0 0 1 2 3 4 0 1 2 3 4 nt -1 -1 nt -1 -1 ca 10-1 11-1 ond ca 10 11-1 ond 09 12 y 09-1 12 y va 20 20 013-1 be va 20 20 013-1 be 20 20 2 20 20 2 Financial year Financial year

Mirvac Real Estate Investment Trust Investment Portfolio summary – June 2009 5 340 Adelaide Street 12 Cribb Street Brisbane, QLD Milton, QLD

340 Adelaide Street is a modern 17 storey commercial office 12 Cribb Street is a six level office building comprising two levels building with two levels of basement car parking and is located in of car parking, ground floor office/retail and five upper levels the heart of the Brisbane CBD. of office accommodation. The property is conveniently located approximately 260 metres south east of Milton railway station and MREIT is currently undertaking a refurbishment to increase the approximately two kilometres west of the Brisbane CBD. building’s energy efficiency to a targeted 4.5 Star NABERS rating from a current estimated 1.5 Stars. A $500,000 grant was awarded as The major tenant AECOM Australia has a lease commitment until part of the Green Building Fund program to assist the refurbishment. 31 January 2014.

Property Details Property Details Type Commercial Type Commercial Site area 1,637 sqm Site area 1,194 sqm Lettable area 13,290 sqm Lettable area 3,310 sqm Car spaces 100 Car spaces 51 Title Freehold Title Freehold Ownership 100% Ownership 100% Acquisition date September 1998 Acquisition date April 1999 Valuation $63.0 million Valuation $18.5 million Valuation date 30 June 2009 Valuation date 31 December 2008 Book value $63.0 million Book value $15.0 million Occupancy 89.3% Occupancy 100% Major tenants Department of Health and Ageing (2,964 sqm) Major tenant AECOM Australia (3,226 sqm) Australian Government Solicitors (1,724 sqm) Health Services Australia Ltd (1,628 sqm)

Lonly use personal For ease expiry profile (by area) Lease expiry profile (by area)

100 100 80 80

ea (%) ea 60 (%) ea 60 40 40

able ar 20 able ar 20

Lett 0 Lett 0 0 1 2 3 4 0 1 2 3 4 nt -1 -1 nt -1 -1 ca 10 11-1 ond ca 10 11-1 ond 09-1 12 y 09-1 12 y va 20 20 013-1 be va 20 20 013-1 be 20 20 2 20 20 2 Financial year Financial year

6 Mirvac Real Estate Investment Trust Investment Portfolio summary – June 2009 191–197 Salmon Street 591–609 Doncaster Road Port Melbourne, VIC Doncaster, VIC

The headquarters for GM Holden Limited features a modern Doncaster Corporate Centre consists of a purpose built complex campus style complex featuring large efficient floor plates, a for Silverstone Jaguar and three modern office buildings, each 4.5 star Ecologically Sustainable Development (ESD) rating, of two storeys plus basement car parking. The properties are high quality finishes and fitout and state of the art security. The situated on Doncaster Road, a major thoroughfare in Melbourne’s property is leased to GM Holden on a 15 year lease which expires eastern suburbs and located approximately 14 kilometres east of on 20 April 2020. MREIT owns a 50 per cent interest in this asset. Melbourne’s CBD.

Silverstone Jaguar has exercised their lease option extending their term until August 2018.

Property Details Property Details Type Commercial Type Commercial Site area 23,960 sqm Site area 7,630 sqm Lettable area 21,763 sqm Lettable area 8,921 sqm Car spaces 1,055 Car spaces 202 Title Freehold Title Freehold Ownership 50% Ownership 100% Acquisition date July 2003 Acquisition date June 2002 Valuation (50% interest) $46.5 million Valuation $21.8 million Valuation date 30 June 2009 Valuation date 31 December 2008 Book value $46.5 million Book value $17.3 million Occupancy 100% Occupancy 86.2% Major tenant GM Holden (21,763 sqm) Major tenant Silverstone Jaguar (4,037 sqm)

For personal use only use personal For Lease expiry profile (by area) Lease expiry profile (by area)

100 100 80 80

ea (%) ea 60 (%) ea 60 40 40

able ar 20 able ar 20

Lett 0 Lett 0 0 1 2 3 4 0 1 2 3 4 nt -1 -1 nt -1 -1 ca 10 11-1 ond ca 10 11-1 ond 09-1 12 y 09-1 12 y va 20 20 013-1 be va 20 20 013-1 be 20 20 2 20 20 2 Financial year Financial year

Mirvac Real Estate Investment Trust Investment Portfolio summary – June 2009 7 Retail Portfolio

Retail Key Statistics

Vacancy 8.1% of GLA 1.4% of GLA at June 2008

Speciality occupancy cost 11.21% 11.79% at June 2008

Average lease expiry 5.8 years 6.4 years at June 2008

Comparable MAT $544 million 6.4% from June 2008

Area leased 12 months to 30 June 2009 13,399 sqm 10.3% of retail portfolio

Lease expiry profile (by area) Lease expiry profile (by gross income)

100 100

80 80

ea (%) ea 60 60

40 40 able ar oss Income (%) Income oss Lett

20 Gr 20

For personal use only use personal For 0 0 0 1 2 3 4 0 1 2 3 4 nt -1 -1 nt -1 -1 ca 10 11-1 ond ca 10 11-1 ond 09-1 y 09-1 y va 20 20 012 013-1 be va 20 20 012 013-1 be 20 2 2 20 2 2 Financial year Financial year

8 Mirvac Real Estate Investment Trust Investment Portfolio summary – June 2009 Cherrybrook Village Shopping Centre, Taree City Centre Cherrybrook, NSW Taree, NSW

Cherrybrook Village Shopping Centre is situated within the growth Taree City Centre is a single level, sub-regional shopping precinct of north-west metropolitan Sydney. The predominantly centre. Constructed in 1997, the centre comprises a Woolworths enclosed, single level, neighbourhood shopping centre was supermarket, Big W, 40 specialty tenancies and three kiosks. originally constructed in 1989 and was extensively refurbished Car parking is provided for 930 vehicles on a site of 2.18 hectares. and expanded in 2004. The centre is anchored by a Woolworths Taree City Centre is located in the mid north coast township of supermarket, one mini-major (Martelli’s Fruit Market), plus Taree 309 kilometres north of Sydney and 84 kilometres south 54 specialty tenancies, one kiosk, one ATM and one pad site of Port Macquarie. (Kindalin Child Care centre). Car parking on site comprises a mixture of on grade and deck parking for 474 vehicles on a site of 2.95 hectares.

Property Details Property Details Type Retail Type Retail Site area 29,540 sqm Site area 21,750 sqm Lettable area 9,492 sqm Lettable area 15,553 sqm Car spaces 474 Car spaces 930 Title Freehold Title Freehold Ownership 100% Ownership 100% Acquisition date June 2005 Acquisition date July 2001 (50%) November 2004 (50% Valuation $75.0 million Valuation $54.0 million Valuation date 30 June 2009 Valuation date 30 June 2009 Book value $75.0 million Book value $54.0 million Occupancy 100% Occupancy 99.6% Major tenant Woolworths (3,832 sqm) Major tenants Big W (6,538 sqm) Woolworths (3,919 sqm

For personal use only use personal For Lease expiry profile (by area) Lease expiry profile (by area)

100 100 80 80

ea (%) ea 60 (%) ea 60 40 40

able ar 20 able ar 20

Lett 0 Lett 0 0 1 2 3 4 0 1 2 3 4 nt -1 -1 nt -1 -1 ca 10 11-1 ond ca 10 11-1 ond 09-1 12 y 09-1 12 y va 20 20 013-1 be va 20 20 013-1 be 20 20 2 20 20 2 Financial year Financial year

Mirvac Real Estate Investment Trust Investment Portfolio summary – June 2009 9 Moonee Beach Shopping Centre Chester Square Shopping Centre Coffs Harbour, NSW Chester Hill, NSW

Moonee Beach Shopping Centre is a neighbourhood shopping Chester Square Shopping Centre is located in the suburb of centre which opened in December 2005. The centre is located Chester Hill approximately 20 kilometres west of Sydney CBD. upon a site of approximately 2.71 hectares with excellent visibility The centre comprises a partly enclosed single level, neighbourhood to the Pacific Highway. The centre is anchored by a Coles shopping centre which was originally constructed in 1978 and supermarket, two mini-majors being Best and Less and Crazy has undergone a major redevelopment during 2007–2008. Clark’s, 23 specialty shops, nine bulky goods tenancies and The centre is anchored by a Woolworths supermarket, two offers 376 car parking spaces. The centre is approximately 12 mini-major tenancies (Go-Lo discount variety store and Chester kilometres north of the New South Wales north coast township Square Fruit Market) and 30 speciality shops. Car parking on of Coffs Harbour. site comprises a mixture of on-grade and basement parking for 350 vehicles on a site of 1.67 hectares.

Property Details Property Details Type Retail Type Retail Site area 27,140 sqm Site area 16,720 sqm Lettable area 10,884 sqm Lettable area 8,293 sqm Car spaces 376 Car spaces 350 Title Freehold Title Freehold Ownership 100% Ownership 100% Acquisition date February 2007 Acquisition date March 2007 Valuation $18.0 million Valuation $28.0 million Valuation date 31 December 2008 Valuation date 30 June 2009 Book value $15.3 million Book value $28.0 million Occupancy 55.5% Occupancy 93.5% Major tenant Coles (3,500 sqm) Major tenants Woolworths (3,468 sqm) Go–Lo (1,280 sqm)

Lonly use personal For ease expiry profile (by area) Lease expiry profile (by area) 100 100 80 80

ea (%) ea 60 (%) ea 60 40 40

able ar 20 able ar 20

Lett 0 Lett 0 0 1 2 3 4 0 1 2 3 4 nt -1 -1 nt -1 -1 ca 10 11-1 ond ca 10 11-1 ond 09-1 12 y 09-1 12 y va 20 20 013-1 be va 20 20 013-1 be 20 20 2 20 20 2 Financial year Financial year

10 Mirvac Real Estate Investment Trust Investment Portfolio summary – June 2009 Pender Place Shopping Centre Orion Springfield Town Centre Maitland, NSW Greater Springfield, QLD

Pender Place Shopping Centre is a single level, neighbourhood Orion Springfield Town Centre is a regional shopping centre shopping centre. Constructed in 1982, the centre comprises a located approximately 25 kilometres south west of Brisbane’s CBD, Woolworths supermarket, 14 specialty tenancies and one kiosk. which commenced trading in March 2007. The centre is anchored Car parking is provided for 233 vehicles on a site of 1.05 hectares. by a Woolworths supermarket, Big W discount department store The property is located in Maitland in the Hunter Valley and 133 specialty tenancies (including five mini-majors and a free approximately 200 kilometres north by road from the Sydney CBD. standing Petrol Plus outlet). Parking is provided for 2,200 vehicles. In February 2008 the centre was awarded the first six star rating by the Green Building Council Australia.

Property Details Property Details Type Retail Type Retail Site area 10,510 sqm Site area 40,020 sqm Lettable area 4,799 sqm Lettable area 33,370 sqm Car spaces 233 Car spaces 2,200 Title Freehold Title Freehold Ownership 100% Ownership 33% Acquisition date September 2007 Acquisition date June 2003 Valuation $11.0 million Valuation (33% interest) $46.8 million1 Valuation date 31 December 2008 Valuation date 31 December 2008 Book value $10.3 million Book value $46.8 million1 Occupancy 97.6% Occupancy 98.9%2 Major tenant Woolworths (3,374 sqm) Major tenants Woolworths (4,188 sqm) Big W (8,044 sqm) 1 Excludes vacant land of $10.3 million.

2 Original vacancies supported by a rental guarantee. For personal use only use personal For Lease expiry profile (by area) Lease expiry profile (by area) 100 100 80 80 ea (%) ea

60 (%) ea 60 40 40 able ar

20 able ar 20 Lett

0 Lett 0 1 nt 0 -1 2 3 4 -1 ond 0 1 2 3 4 ca 10 11-1 12 y nt -1 -1 09-1 013-1 ca 10 11-1 ond va 20 20 20 2 be 09-1 12 y 20 va 20 20 013-1 be 20 20 2 Financial year Financial year Mirvac Real Estate Investment Trust Investment Portfolio summary – June 2009 11 City Centre Plaza Morayfield Supa Centre Rockhampton, QLD Morayfield, QLD

City Centre Plaza, Rockhampton is situated on the fringe of Morayfield Supa Centre is a single level bulky goods centre located Rockhampton’s CBD. The single level sub-regional shopping 43 kilometres from Brisbane. In its current configuration the centre was modernised and upgraded during 2008. The centre is property consists of 17 units with a total GLA of 22,325 square anchored by a Target department store and a Coles supermarket metres with major tenants Spotlight and The Warehouse. The with 36 specialty shops. The centre incorporates both basement existing units represent stages one and two of a three stage level and on grade car parking for 495 vehicles. development covering a total site area of 8.08 hectares. The property presently provides 300 car parking spaces onsite.

Property Details Property Details Type Retail Type Retail Site area 21,380 sqm Site area 80,798 sqm Lettable area 14,107 sqm Lettable area 22,325 sqm Car spaces 495 Car spaces 300 Title Freehold Title Freehold Ownership 100% Ownership 100% Acquisition date March 2004 Acquisition date September 2007 Valuation $45.0 million Valuation $40.0 million1 Valuation date 30 June 2009 Valuation date 31 December 2008 Book value $45.0 million Book value $39.0 million1 Occupancy 100.0% Occupancy 94.6% Major tenants Target (6,910 sqm) Major tenants Spotlight (4,214 sqm) Coles (3,670 sqm) The Warehouse (3,333 sqm) 1 Includes vacant land of $3.5 million.

Lonly use personal For ease expiry profile (by area) Lease expiry profile (by area) 100 100 80 80

ea (%) ea 60 (%) ea 60 40 40

able ar 20 able ar 20

Lett 0 Lett 0 0 1 2 3 4 0 1 2 3 4 nt -1 -1 nt -1 -1 ca 10 11-1 ond ca 10 11-1 ond 09-1 12 y 09-1 12 y va 20 20 013-1 be va 20 20 013-1 be 20 20 2 20 20 2 Financial year Financial year

12 Mirvac Real Estate Investment Trust Investment Portfolio summary – June 2009 Cooleman Court Weston, ACT

Artist’s impression

Cooleman Court Shopping Centre is a two level neighbourhood shopping centre located in Weston, a residential suburb approximately 10 kilometres south-west of the Canberra CBD. An extensive redevelopment of Cooleman Court was substantially completed in June 2009. The redevelopment transformed the first floor of the centre from secondary office space to modern, active retail space anchored by an Aldi supermarket and the mini-major, The Reject Shop. The upgrade works also included the introduction of building management systems to improve power efficiency and a general modernisation of the centre.

Property Details Type Retail Site area 9,369 sqm Lettable area 10,714 sqm Car spaces 517 (located on Government land) Title Leasehold Ownership 100% Acquisition date July 2001 (50%) November 2004 (50%) Valuation $47.6 million Valuation date 30 June 2009 Book value $47.6 million Occupancy 83.3% Major tenants Woolworths (3,102 sqm) Aldi Foods (1,400 sqm)

For personal use only use personal For Lease expiry profile (by area)

100 80

ea (%) ea 60 40

able ar 20

Lett 0 0 1 2 3 4 nt -1 -1 ca 10 11-1 ond 09-1 12 y va 20 20 013-1 be 20 20 2 Financial year

Mirvac Real Estate Investment Trust Investment Portfolio summary – June 2009 13 Industrial/Business Park Portfolio

Industrial/Business Park Key Statistics

Vacancy 4.4% of GLA 1.1% of GLA at June 2008

Average lease expiry 3.9 years 4.8 years at June 2008

Area leased 12 months to 30 June 2009 9,133 sqm 8.55% of industrial portfolio

Lease expiry profile (by area) Lease expiry profile (by gross income)

100 100

80 80

ea (%) ea 60 60

40 40 able ar oss Income (%) Income oss Lett

20 Gr 20

14 Mirvac Real Estate Investment Trust Investment Portfolio summary – June 2009 10 Julius Avenue 32 Sargents Road North Ryde, NSW Minchinbury, NSW

10 Julius Avenue comprises three separate buildings located The property comprises two free standing distribution warehouses adjacent to 12 Julius Avenue, also owned by MREIT. The major together with associated ground floor offices and an awning lessee, BOC Gases, has a lease until November 2015. The that allows under cover access between the two warehouses. property is well located providing convenient access to the The property was built in two stages with the first warehouse M2 Motorway approximately 200 metres to the south west and completed in September 2004 and the second in December 2006. direct access to the Sydney CBD via Epping Road and the Gore The property is conveniently located at the junction of the M4 and Hill Freeway. M7 Motorways which is approximately three kilometres to the east.

Property Details Property Details Type Business Park Type Industrial Site area 15,480 sqm Site area 39,740 sqm Lettable area 13,386 sqm Lettable area 22,378 sqm Car spaces 444 Car spaces 202 Title Freehold Title Freehold Ownership 100% Ownership 100% Acquisition date December 2005 Acquisition date February 2004 Valuation $56.0 million Valuation $23.7 million Valuation date 30 June 2009 Valuation date 30 June 2009 Book value $56.0 million Book value $23.7 million Occupancy 92.5% Occupancy 100% Major tenants BOC Gases (8,993 sqm) Major tenant Star Track Express (22,378 sqm) Synthes Australia (2,355 sqm)

For personal use only use personal For Lease expiry profile (by area) Lease expiry profile (by area) 100 100 80 80

ea (%) ea 60 (%) ea 60 40 40

able ar 20 able ar 20

Lett 0 Lett 0 0 1 2 3 4 0 1 2 3 4 nt -1 -1 nt -1 -1 ca 10 11-1 ond ca 10 11-1 ond 09-1 12 y 09-1 12 y va 20 20 013-1 be va 20 20 013-1 be 20 20 2 20 20 2 Financial year Financial year

Mirvac Real Estate Investment Trust Investment Portfolio summary – June 2009 15 12 Julius Avenue 108—120 Silverwater Road North Ryde, NSW Silverwater, NSW

12 Julius Avenue is located in the Riverside Corporate Park, Centrewest Industrial Estate is situated in the established North Ryde considered the premier high-tech business park industrial precinct of Silverwater, with excellent access to location in Sydney. The property comprises two multi level the M4 Freeway and Victoria Road, major arteries that link buildings with Revlon being the major occupant of the property. Sydney’s west and north west with the CBD. The property As with 10 Julius Avenue, 12 Julius Avenue has benefited from the comprises a modern 12 unit office/warehouse industrial estate. completion of the Lane Cove Tunnel which links the M2 Motorway and the Gore Hill Freeway.

Property Details Property Details Type Business Park Type Industrial Site area 9,000 sqm Site area 24,380 sqm Lettable area 7,308 sqm Lettable area 17,830 sqm Car spaces 200 Car spaces 340 Title Freehold Title Freehold Ownership 100% Ownership 100% Acquisition date November 1999 Acquisition date March 2000 Valuation $24.5 million Valuation $27.2 million Valuation date 30 June 2009 Valuation date 31 December 2008 Book value $24.5 million Book value $25.3 million Occupancy 79.3% Occupancy 87.8% Major tenant Revlon (2,675 sqm) Major tenants Chubb (4,355 sqm) Christian City Church (3,594 sqm)

Lonly use personal For ease expiry profile (by area) Lease expiry profile (by area) 100 100 80 80

ea (%) ea 60 (%) ea 60 40 40

able ar 20 able ar 20

Lett 0 Lett 0 0 1 2 3 4 0 1 2 3 4 nt -1 -1 nt -1 -1 ca 10 11-1 ond ca 10 11-1 ond 09-1 12 y 09-1 12 y va 20 20 013-1 be va 20 20 013-1 be 20 20 2 20 20 2 Financial year Financial year

16 Mirvac Real Estate Investment Trust Investment Portfolio summary – June 2009 52 Huntingwood Drive Network, Old Wallgrove Road Huntingwood, NSW Eastern Creek, NSW

Artist’s impression

The property comprises a high quality, modern, flexible This industrial development site comprises six hectares jointly owned distribution warehouse which was specifically designed for by Mirvac Property Trust and MREIT. MREIT receive a land rent from Exel Australia in 2000 who has leased the property until Mirvac Projects on its equity contributed. A development application October 2012. The property is located in the prime western has been lodged for bulk earth works and infrastructure. Located industrial suburb of Huntingwood just off the M4 Motorway, adjacent to the intersection of the M4 and M7 Motorways, the adjacent to the intersection of the M7 Westlink. development is ideally suited to attract major industrial users.

Property Details Property Details Type Industrial Type Industrial Site area 35,840 sqm Site area 6 ha Lettable area 19,286 sqm Lettable area N/A Car spaces 106 Car spaces Nil Title Freehold Title Freehold Ownership 100% Ownership 50% Acquisition date November 2004 Acquisition date June 2004 Valuation $22.8 million Valuation (50% interest) $7.0 million Valuation date 30 June 2009 Valuation date 31 October 2008 Book value $22.8 million Book value (50% interest) $7.0 million Occupancy 100% Major tenant Exel Australia (19,286 sqm)

For personal use only use personal For Lease expiry profile (by area) 100 80

ea (%) ea 60 40

able ar 20

Lett 0 0 1 2 3 4 nt -1 -1 ca 10 11-1 ond 09-1 12 y va 20 20 013-1 be 20 20 2 Financial year

Mirvac Real Estate Investment Trust Investment Portfolio summary – June 2009 17 47—67 Westgate Drive Altona North, VIC

The property is an industrial warehouse facility which serves as a distribution centre for the sole tenant Pacific Brands. Completed in 1996 the facility is located in Melbourne’s western industrial precinct strategically serviced by major transport routes Westgate Freeway, Western Ring Road and the Princes Freeway.

Property Details Type Industrial Site area 55,490 sqm Lettable area 27,081 sqm Car spaces Nil Title Freehold Ownership 100% Acquisition date September 2007 Valuation $22.5 million Valuation date 31 December 2008 Book value $20.0 million Occupancy 100% Major tenant Pacific Brands (27,081 sqm)

Lonly use personal For ease expiry profile (by area)

100 80

ea (%) ea 60 40

able ar 20

Lett 0 0 1 2 3 4 nt -1 -1 ca 10 11-1 ond 09-1 12 y va 20 20 013-1 be 20 20 2 Financial year

18 Mirvac Real Estate Investment Trust Investment Portfolio summary – June 2009 Hotel Portfolio

Artist’s impression

Travelodge Key Statistics FY 09 FY 08

Average occupancy 80.5% 86.8%

EBITDA $15.9 million $16.1 million Note: Reflects 49% share.

Travelodge Hotel Portfolio Location Asset Acquisition Independent Independent Book Capitalisation Lettable ownership date valuation valuation value rate area/rooms (%) date ($m) ($m) (%) (sqm) Travelodge Sydney NSW 49 Mar 05 Jun 08 37.0 36.7 9.50 406 Travelodge Wynyard NSW 49 Jun 05 Dec 07 29.9 33.3 9.00 277 Travelodge Newcastle NSW 49 Feb 06 Jun 09 10.8 10.8 10.00 131 Travelodge Phillip Street NSW 49 Mar 05 Mar 08 8.8 8.0 9.25 86 Travelodge Macquarie North Ryde NSW 49 Mar 05 Dec 08 8.6 7.4 9.75 120 Travelodge Manly-Warringah NSW 49 Mar 05 Dec 08 7.0 6.5 10.00 120 Travelodge Blacktown NSW 49 Mar 05 Mar 09 6.4 5.8 10.00 120 Travelodge Bankstown NSW 49 Mar 05 Mar 09 7.1 7.1 10.25 108

For personal use only use personal For Travelodge Garden City QLD 49 Mar 05 Mar 08 5.3 5.3 10.50 120 Travelodge Rockhampton QLD 49 Jun 06 Sep 08 5.0 5.1 10.00 74 Travelodge Southbank VIC 49 Mar 05 Jun 09 28.0 28.0 9.50 275 Travelodge Perth WA 49 Apr 06 Sep 08 11.8 13.4 9.50 123 Travelodge Palmerston North NZ 49 Mar 08 Nov 07 6.0 5.3 10.00 85 Total Hotels 171.6 172.6 9.56 2,045

Mirvac Real Estate Investment Trust Investment Portfolio summary – June 2009 19 Directory

Responsible Entity Mirvac REIT Management Limited ABN 70 002 060 228 AFSL 233 787 as Responsible Entity of Mirvac Real Estate Investment Trust ARSN 089 535 526

Registered Office and Postal Address Level 26, 60 Margaret Street Sydney NSW 2000 Telephone: 02 9080 8000 Facsimile: 02 9080 8174 Email: [email protected] Web: www.mirvac.com/mrz

Disclaimer

This Investment Portfolio Summary is dated June 2009 and is provided for information purposes only and is subject to change without notice. It has been prepared on the basis of the information which is believed by Mirvac REIT Management Limited to be correct but Mirvac REIT Management Limited does not

warrantonly use personal For the accuracy of any details or accept liability for any of the information contained in this Investment Portfolio Summary.

Nothing contained in this Investment Portfolio Summary is intended to be investment, legal, tax or other advice. The information in this Investment Portfolio Summary does not take into account the investment objectives, financial situation and needs of any particular investor. Before acting on the information in this Investment Portfolio Summary investors should read the annual report of Mirvac Real Estate Investment Trust and subsequent ASX announcements, obtain independent advice and make their own assessment of Mirvac Real Estate Investment Trust having regard to their investment objectives, financial situation and needs.

This document is printed on Australian made paper containing 50 per cent recycled fibre and 50 per cent non-recycled fibre sourced from sustainable plantations.

20 Mirvac Real Estate Investment Trust Investment Portfolio summary – June 2009 For personal use only For personal use only