09/10 SOUTH BANK CORPORATION ANNUAL REPORT 2009–2010 OUR VISION To create and manage the best new urban precinct in the world. OUR PURPOSE Our purpose is to establish the South Bank reach of the river as the recreational centre of Brisbane, uniting South Bank and the CBD through vibrant activity. In turn, this ambition will link the city’s green and commercial places and provide a dynamic platform for visitor activities for the whole community. South Bank Corporation aims to strengthen South Bank’s connections with West End, Highgate Hill and Woolloongabba, and to enrich our arts, educational, sporting and convention experiences. The Corporation promotes the continual evolution of the Parklands, Little Stanley and Grey Street into distinct and recognisable places that form the heart of Brisbane city life. We will continue to celebrate our successes and gain local, national and international recognition for South Bank. SOUTH BANK CORPORATION ANNUAL REPORT 2009–2010 : 01 DJs add to the mix on Little Stanley CONTENTS PART ONE: THE SOUTH BANK CORPORATION STORY. 05 South Bank – a place like no other. 05 Chairman’s message . 06 Chief Executive Officer’s statement . 10 About our organisation. 13 South Bank Corporation highlights. 14 Development feature – constructing the future . 17 Brisbane Convention & Exhibition Centre (BCEC) on Grey St . 20 BCEC highlights. 21 South Bank Corporation performance overview 2009–2010. 23 Performance measures. 24 Toward Q2 targets – explained. 30 Our business structure. 32 The Chairman. 32 Board of Directors. 32 Executive Management team . 36 PART TWO: OPERATIONAL PERFORMANCE. 39 Retail and Property team overview and highlights. 39 Operations team overview and highlights . 40 Planning and Projects team overview and highlights . 42 Marketing team overview and highlights . 44 Availability of interpreter services: The Queensland Government is committed to providing accessible services to Other teams . 46 Queenslanders from all culturally and linguistically diverse backgrounds. If you have difficulty in understanding the annual report, you can contact us on 131 450 PART THREE: CUSTOMERS, VISITORS AND PARTNERS and we will arrange an interpreter to effectively communicate the report to you. – THE ESSENTIAL MIX . 49 More information: Queensland Government Multicultural Policy 2004 incorporating the PART FOUR: SUSTAINABILITY . 53 Queensland Government Language Services Policy http://www.multicultural.qld.gov.au/services-resources/translating-interpreting-services PART FIVE: CORPORATE GOVERNANCE . 55 ©The State of Queensland, South Bank Corporation 2010 PART SIX: FINANCIAL STATEMENTS . 59 02 SOUTH BANK CORPORATION ANNUAL REPORT 2009–2010 : 03 PART ONE : 01. THE SOUTH BANK CORPORATION STORY SOUTH BANK – Little Stanley A PLACE LIKE NO OTHER Little Stanley is a place of chance discoveries, urban exoticism and contemporary cool. Created as a beacon South Bank, incorporating Little Stanley, Grey Street for the smart and chic, it offers an array of contemporary and the Parklands, is a multi-layered destination and international cuisine styles including Turkish, Indian, bordering the southern bank of the Brisbane River Japanese, Mediterranean, Modern Australian and Italian. opposite the Central Business District. South Bank Increasingly known as one of Brisbane’s best dining Corporation owns and manages the 42 hectare site, and shopping streets, Little Stanley encapsulates the which sits at the heart of a rich enclave of cultural energy and vibrancy of our city in a contemporary establishments at the vanguard of architecture, music setting overlooking the Parklands. Little Stanley is a and the visual and performing arts. We are a unique celebration of subtropical street life unmatched in precinct physically as well as socially. Our place Australia. amplifies South-East Queensland’s quintessential qualities: climate, landscape, character, diversity and Grey Street lifestyle. In operation 24 hours a day, 365 days a year, Grey Street is Brisbane’s cultural boulevard where South Bank has evolved to become one of South-East commerce meets creativity. With arts institutions PLACES WITHIN OUR PLACES Aquativity Queensland’s major tourist destinations. Our dynamic showcasing international artistry and many prestigious Aquativity is a fun, interactive and delightful water-play urban park is located in an authentic and increasingly commercial businesses and retail opportunities, it is a Streets Beach park for children incorporating water, sound and lighting. diverse part of Brisbane with annual visitation rates street in which to be bold and be challenged. In a world The epitome of Queensland culture and climate exceeding 10 million. Except for inner-city apartment in which time is in short supply, and where people are Formal Gardens – crystal clear swimming lagoons, gleaming white sand, towers, it is one of the closest residential areas to the looking for meaningful and rewarding urban experiences, The Formal Gardens is a serene and enchanting setting palm trees, rocky creeks, subtropical trees and exotic CBD but with greater diversity. Our visitors, patrons, Grey Street stands apart on Brisbane’s leisure and with still ponds, lush grass, well-manicured gardens and plantings. partners and stakeholders are attracted to the ambience, commercial landscape as the true hub of the city’s meditative sculpture. Suncorp Piazza surrounds, cultural and retail integrity of our rich and creative, leisure and retail experiences. The Piazza is a magnificent, multi-purpose amphitheatre Glenelg and Tribune Street lawns varied subtropical public place. that plays host to community events, performances, Expansive lawns in between Little Stanley and the The Parklands concerts, gala dinners and corporate functions and Parklands create one of Australia’s largest ‘green’ The Parklands is a haven of natural beauty including TV shows. rooftops – on the roof of the precinct’s car park – a OUR PLACES more than 17 hectares of riverfront parkland featuring 20 landscaped areas as well as our man-made beach. much-loved community space for events and relaxation. Our places are like nowhere else in Queensland. A day Cultural Forecourt It is also a place to learn about healthy, modern living ‘Music Lawn’ or night at South Bank will reveal endless authentic and With uninterrupted river and city views, the Cultural through our many activities and initiatives. We want The Music Lawn is situated outside the Griffith University surprising experiences. With high levels of infrastructure Forecourt is a unique space that has showcased public visitors and locals to come to an urban oasis, where Conservatorium of Music and is a hub for emerging and services located within the immediate vicinity our entertainment, concerts, festivals and significant events. they can be energised and fill their minds with fresh artists to showcase their talent. precinct is not only attractive but seamlessly accessed ideas. The Parklands is a place which provides an Riverside Green both locally, and through bus and train connections Nepalese Pagoda escape from the frenetic pace of city living. It is a place Riverside Green, an undulating lawn area and right across South-East Queensland. The precinct is Our spectacular, hand-carved two-storey pagoda is a where locals and visitors can take time out, relax and playground, is a community favourite surrounded by home to over 10,000 employees and residents who can magnificent venue donated to the people of Brisbane enjoy a delightful, natural setting in the middle of riverside scenery and tall shady trees. access an array of services, including hotels, retail outlets, following World Expo 88. The pagoda is surrounded by Brisbane’s River City. Rainforest Green educational institutions, public transport, car parking lush tropical landscaping. One of only three Nepalese This tucked-away spot is an urban secret: grassy and and entertainment. Peace Pagodas outside of Nepal, this treasure is a tranquil with an intimate, secluded rainforest ambience unique Brisbane feature. that feels miles away from city bustle. 04 SOUTH BANK CORPORATION ANNUAL REPORT 2009–2010 : 05 “We’re committed to providing Brisbane locals and South Bank visitors with accessible green space for recreation, relaxation and enjoyment.” CHAIRMAN’S MESSAGE Sunset over the Goodwill Bridge CHAIRMAN’S MESSAGE South Bank’s role in our city The year-on-year improvement signifies the appeal We look forward to launching some of our revitalised River activation and green space For 21 years, it has been South Bank Corporation’s of our asset base with all asset classes exceeding spaces during the 2010–2011 period, further The Brisbane River is our city’s natural symbol vision to create an urban precinct of international expectations in a subdued economic climate. Stable diversifying the retail offering and increasing our – an important place of leisure and relaxation for the standing. Throughout our evolution, Brisbane locals revenues and sound cost control across retail leasing, capacity to service the competitive convention and people of Brisbane. South Bank has the great fortune and visitors alike have flocked to the precinct, making and car park operations delivered healthy profit exhibition market through the completion of the of sharing the prime reach of this important attraction it their own. In the context of modern Brisbane, it is contributions and Brisbane Convention & Exhibition Brisbane Exhibition & Convention Centre (BCEC) and it has long been our goal to engineer greater