The Grove - Investment Book by iCreate

R I C H L A N D S

I N V E S T M E N T

I N F O R M A T I O N

The lake at Forest Lake

R I C H L A N D S

PROJECT SUMMARY

PROJECT ADDRESS

LOCATION HIGHLIGHTS

- 156 â&#x20AC;&#x201C; 178 Progress Road, Richlands

- 2 00m from the Richlands train station and bus interchange

PROJECT DESCRIPTION - 7 Resident configurations to choose from - Mix of 3-4 bedroom with 1 and 2 car options

- W alking distance to local shops including Woolworth, McDonalds and Masters - C onnected by community bike paths and walking tracks - 5 min drive to access Ipswich motorway and Centenary Motorway

PROJECT HIGHLIGHTS - Architectural designed modern terrace homes - E xtensive community facilities including a resort style pool - Fully integrated master planned community - Extensive landscaping

- 1 0 min drive to the heart of Springfield City with features such as the Mater Hospital & Health Centre precinct, Orion Shopping Centre, water park, Robelle Domain and the Brookfield Golf Course and Country Club - 1 0 min drive to the Richlands, Wacol and Oxley employment precincts which is the second biggest employment catchment outside the Brisbane CBD - E xcellent public and private education options including the University of Southern Queensland 10 mins away

THE GROVE RICHL ANDS / 07

OUTLOOK

APRIL 2015

RICHLANDS

A STRATEGIC LOCATION

Within easy access to a wealth of retail and lifestyle amenity / Pg 02

B INFRASTRUCTURE & POPULATION

A CONTEXT ON BUSINESS, CULTURE, LIFESTYLE AND RESIDENTIAL

Significant completed transport infrastructure investment / Pg 04

C EMPLOYMENT GROWTH Almost 12,000 new jobs projected within the catchment by 2031 / Pg 05

SALE PRICE GROWTH

With direct access to arterial road and public transport networks, Richlands’ connectivity has positioned it as a major growth precinct moving forward. ACCESS TO LOCAL EMPLOYMENT AND EDUCATION NODES

ST JOHNS ANGLICAN COLLEGE

PROXIMITY TO GREEN SPACE AND RECREATIONAL FACILITIES

FOREST LAKE

Richlands median house sale price has shown consistent growth over the past 10 years / Pg 06

NEW PRODUCT PREMIUM

POP

New and near-new townhouses in Richlands are showing rental premiums over established product / Pg 07

SIGNIFICANT TRANSPORT INFRASTRUCTURE CONNECTIONS

RICHLANDS TRAIN STATION

INF

EMP

Richlands accommodates all three of the Urbis economics and research fundamentals that make a sustainable suburb – Population, Infrastructure and Employment.

BRISBANE CBD 16KMS

ACCESSIBILITY & WALKABILITY Richlands

SUMNER

8 17

16 WACOL

6 4 30 MINS TO CBD 30 MINS TO CBD

IPSWICH 23 MINS

CE NT EN AR Y

HI GH W AY

11 10

RICHLANDS SPRINGFIELD 13 MINS

Richlands premium transport networks have spurred large scale investment in the precinct. New residential development, commercial offices, industrial parks and community uses, are all within easy access. 2

URBIS RICHLANDS OUTLOOK ÂŠ URBIS.COM.AU

Located just 16 kilometres from the Brisbane CBD, Richlands has benefited significantly from the addition of recent infrastructure investment, including Richlands Railway Station (completed in 2011), which has represented a driver for both population and employment in the precinct. Additional transport infrastructure includes access to the Centenary Highway and Ipswich and Logan Motorways, providing high connectivity in all directions and a convenient commute to the Brisbane CBD, Ipswich, Springfield, and the Gold Coast.

Richlandsâ&#x20AC;&#x2122; recent development is likely attributed to key transport infrastructure connections, paired with local industrial and employment nodes, and a range of retail and leisure amenities. In addition to its employment and retail amenity, Richlands also is well-serviced by education infrastructure, with the Bremer Institute of TAFE and University of Southern Queensland (Springfield Campus) offering tertiary facilities, and Richlands East State School and Richlands State School providing primary school facilities.

THE GROVE RICHL ANDS / 09

1 RICHLANDS PLAZA 13 5 MINS

WOOLWORTHS MEDICAL CENTRE

BUSINESS CENTRE

INALA

24/7 GYM

3 INALA PLAZA - 5 MINS

D OA SR RES G PRO

WOOLWORTHS, COLES, ALDI TARGET SPECIALTY STORES

15 10 MINS

GA RD EN RO AD

FOREST LAKE 9 MINS

14 6 MINS

Airport

Train Station

Bus Station

Walking Path

Green Space and Recreation

Entertainment, Shopping & Dining

Queensland Lions Sports Complex

AMF Bowling Centre

Education

West Brisbane Tennis Centre

Inala State School

CJ Greenfield Sports Complex

St John’s Anglican College

Serviceton South State School

Richlands Plaza Shopping Centre

Progress Corner Shopping Centre

Infrastructure

Inala Plaza Shopping Centre

Richlands Train Station

Other

QLD Lions Tavern

Richlands Bus Station

Coca Cola Factory

Masters Home Improvement

Archerfield Airport

Myer Supply Centre

Key Legend URBIS RICHLANDS OUTLOOK © URBIS.COM.AU

INFRASTRUCTURE & POPULATION

Recent transport infrastructure investment has linked Richlands to Brisbane’s key employment nodes

Over recent years Richlands and its surrounds have experienced growth in the amount of infrastructure investment for both commercial and private sectors. Given the proximity of Richlands to the Brisbane CBD, major transport connections and logistic routes, along with the presence of significant industrial precincts, it is suggested that sustained infrastructure investment in the area is both likely and necessary for future growth.

INFRASTRUCTURE INVESTMENT

A Darra to Springfield Transport Corridor $1.27 BILLION

The Darra to Springfield Transport Corridor was a major transport upgrade for the Western Corridor region, and was delivered in two stages. The first stage involved Darra to Richlands road and rail upgrade and was completed in 2011, at a cost of $800 million. Opened in December 2013, and costing a total of $475 million, the second stage built a 9.5 kilometre rail line with new stations at Springfield and Springfield Central. It also included an upgrade of the Centenary Highway between the Logan Motorway, Forest Lake and Springfield. The total $1.27 billion development has provided a major link between Richlands, the Western Corridor and Inner Brisbane, nurturing heightened development and accessibility for the region.

RICHLAND POPULATION GROWTH Between 2006 and 2012, the Richlands Catchment (comprising the suburbs of Richlands and Inala) recorded an average annual population growth of 329 residents per annum. The majority of this growth occurred in the later part of this period with the announcement and development of the Richlands Railway Station in 2011. The new railway station increased accessibility to the Brisbane CBD and acted as a key driver in the residential development that has now occurred within the region. Surrounding transport infrastructure, Richlands accessible location and proximity to large employment nodes, is expected to contribute to sustained long-term population growth within the catchment. Based on the Office of Economic and Statistical Research (OESR) 2013 population projections, the most significant population growth is predicted to occur between 2016 and 2026. Population growth within the precinct is expected to increase annually by 5 per cent, or an average of approximately 1,160 new residents per annum over this period. By 2023, the Richlands Catchment population is expected to contain more than 25,000 new residents, indicating a total growth exceeding 51 per cent in the ten years from 2013.

APPROX. $10 BILLION

TransApex is Brisbane City Council’s long-term plan to improve travel across Brisbane. The project currently has three of the five infrastructure objectives already operating. Upon completion, all infrastructure objectives will connect, creating a highly sophisticated road system. This system will include the Inner City Bypass, the Clem 7 Tunnel, the Go Between Bridge, Legacy Way and AirportlinkM7. Of the five infrastructure objectives, the Clem7 Tunnel, AirportlinkM7 and Legacy Way connections will provide the greatest benefit to Richlands and the greater western corridor region by creating fast tracks and links to key employment nodes, including the Brisbane CBD and Australia Trade Coast. 4

URBIS RICHLANDS OUTLOOK © URBIS.COM.AU

40,000

36,399

35,000 30,000 25,000 20,000 14,413

17,124

15,000 10,000 5,000 0

FORECAST 838 NEW RESIDENTS PER ANNUM

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036

B TransApex – Road Network

ESTIMATED AND PROJECTED POPULATION

RICHLANDS CATCHMENT POPULATION PROJECTION

PERIOD (YEAR)

Prepared by Urbis; Source: ABS Estimated Residential Population 2012, OESR Population Projection 2013

THE GROVE RICHL ANDS / 011

EMPLOYMENT NODES

The Richlands Catchment is projected to generate almost 12,000 new jobs by 2031

With a variety of industries, Richlands has experienced steady employment growth and positioned itself as a major employment node for the future. The top industries for the Richlands Catchment (comprising the suburbs of suburbs of Richlands, Inala, Durack, Darra, Forest Lake, Wacol and Archerfield) include Manufacturing (15.3%), Health Care and Social Assistance (11.4%) and Retail Trade (10.8%). The catchment has succeeded in attracting multinational firms including Coca-Cola Amatil, who were drawn to Richlands commercial infrastructure and logistical significance.

KEY EMPLOYMENT NODES TOTAL EMPLOYMENT GROWTH

298,867

481,570

2011

2031 Forecast

182,703 NEW JOBS

TRANSAPEX ROAD NETWORK

SPRINGFIELD

17,415 2011

68,632

2031 Forecast

51,217 NEW JOBS

RICHLANDS CATCHMENT*

38,289 2011

49,911

2031 Forecast

11,622 NEW JOBS

BRISBANE CBD & FORTITUDE VALLEY

177,138 2011

254,540

2031 Forecast

77,407 NEW JOBS

2 A

DARRA TO SPRINGFIELD TRANSPORT CORRIDOR

INDOOROOPILLY, TOOWONG & ST LUCIA

34,482 2011

49,546

2031 Forecast

15,064 NEW JOBS

SOUTH BRISBANE & WEST END

31,543 2011

58,941

2031 Forecast

27,398 NEW JOBS * Richlands Catchment includes Richlands; Inala; Durack; Darra; Forest Lake, Wacol and Archerfield Prepared by Urbis; Source: NIEIR

URBIS RICHLANDS OUTLOOK ÂŠ URBIS.COM.AU

SCHEDULE OF FINISHES

GENERAL EXTERNAL AND INTERNAL CONSTRUCTION FIXTURES AND FITTINGS

· Hot water service: Instantaneous gas hot water unit, with individual metering

· External walls: Cement render/ block and brick work/ rendered EPS/ compressed FC/ paint

· External glass: Clear and in accordance with energy efficiency requirements

· Internal walls: Painted plasterboard/FC sheet and paint finish

· Bulkheads: Flat acrylic paint on plasterboards as required for services

· Roof: Colourbond metal deck roof with insulation

· Doors and windows: Powder coated aluminium frames with clear glass · Internal doors: Painted flush panel doors · Entry door: Painted panel door from the “Vaucluse” Range or similar · Door hardware – front door: Lever handle lock set · Door hardware – Internal door: Chrome levers with privacy set to bathroom and ensuite · Cabinet hardware: Designer handles · Lighting: Selected recess down light fittings · Sun/privacy screens: Powder coated framed screens (to all windows facing west) · Driveways and paths: Select features as per landscape plan · Fencing: A mixture of metal and timber

Visitor car parking: On site visitor car parking line marked in approved locations

SECURITY · Lighting to common areas and internal driveways · Remote control panel lift doors (2x remotes supplied) ELECTRICAL · Free to air television points to living and bedroom · Pay TV/Broadband points to living and bedroom · Telephone points to bedroom 1 and kitchen AIR-CONDITIONING / MECHANICAL · Split system air-conditioning to living / dining · Externally vented exhausts to bathrooms where required under Australian Standards COMMUNICATIONS · All townhouses prewired for pay television/satelite · Pre-wiring for high speed Internet access via NBN

THE GROVE RICHL ANDS / 013

ENTRY, LOUNGE, LIVING AND DINING · Floor: Tarkett plank flooring – Mountain Ash · Walls: Washable low sheen acrylic paint · Ceilings and cornice: Painted plaster lining. Selected designer cove cornice or trim to ceiling where required · Skirting: Paint grade 67x11mm splayed timber skirting · Architraves: Paint grade 42x11mm splayed timber architrave BEDROOMS AND ROBES ·

Floor: Carpet on underlay

· Walls: Washable low sheen acrylic paint · Ceilings and cornice: Painted plasterboard lining, selected designer cove cornice or trim to ceiling · Skirting: Paint grade 67x11mm splayed timber skirting · Architraves: Paint grade 42x11mm splayed timber architrave · Walk in robes: 1 shelf, hanging rail · Built in robes: Sliding doors with mirrored and glass panels, one full length shelf, 4 x shelves at 600mm wide and hanging rail

KITCHEN · Floor: Tarkett plank flooring – Mountain Ash · Walls: Washable low sheen acrylic paint · Ceiling and cornice: Painted plasterboard lining, selected designer cove cornice or trim to ceiling if applicable · Bench tops: 20mm reconstituted stone top · Splashback: 300mm x 600mm rectified white tiles or equivalent ·

Cupboards: 2 options

OPTION 1: OAK White washed Oak timber look finish White door finish Kickboards: stainless steel laminate finish OPTION 2: NOBLE Dark timber look finish White door finish Pantry: selected laminate finish with fixed shelves

SCHEDULE OF FINISHES

KITCHEN FITTINGS · Sink: 1+ bowl stainless steel sink and drainer

BATHROOM AND ENSUITE FITTINGS

Tapware: Chrome sink mixer

· Shower screen: Semi frameless with clear glass

· European Beko 60cm under bench stainless steel oven

· Vanity Basin: White Polymarble Square semi-recessed top

· Cooktop: European Beko 60cm gas

· Toilet suite: White vitreous china dual flush

· Range hood: European Beko 60cm slide out recirculating range hood

· Dishwasher: Stainless steel European Beko

LAUNDRY

Tapware: Chrome mixers

· Accessories: Towel rail, toilet roll holder in a chrome finish

BATHROOM AND ENSUITE

· Floor: Tarkett plank flooring – Mountain Ash

· Floor and skirting: 450 x 450mm Borgogna Series floor tiles

· Wall: Ceramic tile splash back and skirting with low sheen acrylic paint elsewhere

· Walls: Stack-bond white gloss wall tiles to 2.1m

· Ceiling: Painted plaster board ceilings with bulkheads as required for services

· Ceiling and bulkheads: Painted plasterboard ceiling with bulkheads as required for services · Vanity bench top: White Polymarble Square semi recessed top ·

Vanity cabinet work: 2 options

OPTION 1: OAK White washed Oak Timber look finish OPTION 2: NOBLE Dark timber look finish · Mirror: Framed mirror over vanity

Tapware: Chrome laundry set

· Laundry sink: Stainless steel mini tub with cabinet under

THE GROVE RICHL ANDS / 015

NOTE General: We may substitute items contained in this schedule as long as the substituted item as at least the same quality. The location of fixtures and fittings may be changed (but the new location must not adversely affect the use or functionality of the townhouse). Stone: The fact that stone is a naturally occurring material, variation in colour, consistency and fault lines cannot be controlled. Builder will endeavour to match the stone displayed on the Finishes Boards, but cannot guarantee the stone surface pattern and colour will not vary.

10th August 2015

Azure PO Box 1616 New Farm Qld 4006

To whom it may concern, RE: RENTAL APPRAISAL ‘THE GROVE’ PROGRESS RD, RICHLANDS SPACE 1

Property Features:  3 Bedrooms  2 Bathrooms  2 Defined Living areas  Outdoor entertaining area  1 Car + 1 Tandem  159m2 – 216m2

THE GROVE RICHL ANDS / 017

Upon inspection, I am of the opinion that in todayâ&#x20AC;&#x2122;s market your property is capable of achieving a weekly rent in the range of $370 to $380 with the above listed features. The rent achieved by this property will be influenced by the following factors: - Lease specifics, such as term and start date - The month of the year in which the property is available for rent - How motivated you are to reduce the vacancy period.

This assessment has been based on current rentals within your area and information gathered from our database of recent rented properties within a 1 km radius of your property. Address

Price

Description

05/137 Progress Rd 11/137 Progress Rd 28/137 Progress Rd

$370 per week $370 per week $370 per week

3 bed, 2 bath, 1 car 3 bed, 2 bath, 1 car 3 bed, 2 bath, 1 car

I would like to say thank you for calling on Brisbane Rentals, we appreciate the opportunity and look forward to a continuing prosperous relationship. Please feel free to call me at anytime if I may be of further assistance. Kind Regards,

Lauren Smith Principal Brisbane Rentals Pty Ltd This appraisal has been prepared solely for the information of the person to whom it is addressed and not for any third party. This figure is an opinion only and not a sworn valuation and we shall not be held responsible should the appraisal or any part of it be incomplete in any way.

10th August 2015

Azure PO Box 1616 New Farm Qld 4006

To whom it may concern, RE: RENTAL APPRAISAL ‘THE GROVE’ PROGRESS RD, RICHLANDS SPACE 2

Property Features:  3 Bedrooms  2 Bathrooms  2 Defined Living areas  Outdoor entertaining area  1 car lock up garage  169m2 – 174m2

THE GROVE RICHL ANDS / 019

This assessment has been based on current rentals within your area and information gathered from our database of recent rented properties within a 1 km radius of your property. Address

Price

Description

05/137 Progress Rd 11/137 Progress Rd 28/137 Progress Rd

$370 per week $370 per week $370 per week

3 bed, 2 bath, 1 car 3 bed, 2 bath, 1 car 3 bed, 2 bath, 1 car

10th August 2015

Azure PO Box 1616 New Farm Qld 4006

To whom it may concern, RE: RENTAL APPRAISAL ‘THE GROVE’ PROGRESS RD, RICHLANDS SPACE 3

Property Features:  3 Bedrooms  2 Bathrooms  2 Defined Living areas  Outdoor entertaining area  2 car Lock up garage  198m2 – 221m2

THE GROVE RICHL ANDS / 021

Upon inspection, I am of the opinion that in todayâ&#x20AC;&#x2122;s market your property is capable of achieving a weekly rent in the range of $380 to $390 with the above listed features. The rent achieved by this property will be influenced by the following factors: - Lease specifics, such as term and start date - The month of the year in which the property is available for rent - How motivated you are to reduce the vacancy period.

This assessment has been based on current rentals within your area and information gathered from our database of recent rented properties within a 1 km radius of your property. Address

Price

Description

05/137 Progress Rd 11/137 Progress Rd 28/137 Progress Rd

$370 per week $370 per week $370 per week

3 bed, 2 bath, 1 car 3 bed, 2 bath, 1 car 3 bed, 2 bath, 1 car

10th August 2015

Azure PO Box 1616 New Farm Qld 4006

To whom it may concern, RE: RENTAL APPRAISAL ‘THE GROVE’ PROGRESS RD, RICHLANDS SPACE 4

Property Features:  3 Bedrooms  2.5 Bathrooms  2 Defined Living areas  Outdoor entertaining area  1 Car lock up garage  147m2 – 168m2

THE GROVE RICHL ANDS / 023

Upon inspection, I am of the opinion that in todayâ&#x20AC;&#x2122;s market your property is capable of achieving a weekly rent in the range of $410 to $430 with the above listed features. The rent achieved by this property will be influenced by the following factors: - Lease specifics, such as term and start date - The month of the year in which the property is available for rent - How motivated you are to reduce the vacancy period.

This assessment has been based on current rentals within your area and information gathered from our database of recent rented properties within a 1 km radius of your property. Address

Price

Description

49/137 Progress Rd 83 Old Progress Rd 23/83 Old Progress Rd

$380 per week $385 per week $375 per week

3 bed, 2 bath, 2 car 3 bed, 2 bath, 2 car 3 bed, 2 bath, 2 car

10th August 2015

Azure PO Box 1616 New Farm Qld 4006

To whom it may concern, RE: RENTAL APPRAISAL ‘THE GROVE’ PROGRESS RD, RICHLANDS SPACE 5

Property Features:  3 Bedrooms  2.5 Bathrooms  2 Defined Living areas  Outdoor entertaining area  1 car + 1 Tandem  156m2

THE GROVE RICHL ANDS / 025

Upon inspection, I am of the opinion that in todayâ&#x20AC;&#x2122;s market your property is capable of achieving a weekly rent in the range of $360 to $370 with the above listed features. The rent achieved by this property will be influenced by the following factors: - Lease specifics, such as term and start date - The month of the year in which the property is available for rent - How motivated you are to reduce the vacancy period.

This assessment has been based on current rentals within your area and information gathered from our database of recent rented properties within a 1 km radius of your property. Address

Price

Description

05/137 Progress Rd 11/137 Progress Rd 28/137 Progress Rd

$370 per week $370 per week $370 per week

3 bed, 2 bath, 1 car 3 bed, 2 bath, 1 car 3 bed, 2 bath, 1 car

10th August 2015

Azure PO Box 1616 New Farm Qld 4006

To whom it may concern, RE: RENTAL APPRAISAL ‘THE GROVE’ PROGRESS RD, RICHLANDS SPACE 6

Property Features:  4 Bedrooms  2 Bathrooms  2 Defined Living areas  Outdoor entertaining area  1 Car + 1 car space  163m2 – 168m2

THE GROVE RICHL ANDS / 027

This assessment has been based on current rentals within your area and information gathered from our database of recent rented properties within a 1 km radius of your property. Address

Price

Description

49/137 Progress Rd 83 Old Progress Rd 23/83 Old Progress Rd

$380 per week $385 per week $375 per week

3 bed, 2 bath, 2 car 3 bed, 2 bath, 2 car 3 bed, 2 bath, 2 car

10th August 2015

Azure PO Box 1616 New Farm Qld 4006

To whom it may concern, RE: RENTAL APPRAISAL ‘THE GROVE’ PROGRESS RD, RICHLANDS SPACE 7

Property Features:  4 Bedrooms  2.5 Bathrooms  2 Defined Living areas  Outdoor entertaining area  1 Car + 1 car space  175m2 – 233m2

THE GROVE RICHL ANDS / 029

Upon inspection, I am of the opinion that in todayâ&#x20AC;&#x2122;s market your property is capable of achieving a weekly rent in the range of $420 to $440 with the above listed features. The rent achieved by this property will be influenced by the following factors: - Lease specifics, such as term and start date - The month of the year in which the property is available for rent - How motivated you are to reduce the vacancy period.

This assessment has been based on current rentals within your area and information gathered from our database of recent rented properties within a 1 km radius of your property. Address

Price

Description

49/137 Progress Rd 83 Old Progress Rd 23/83 Old Progress Rd

$380 per week $385 per week $375 per week

3 bed, 2 bath, 2 car 3 bed, 2 bath, 2 car 3 bed, 2 bath, 2 car

10th August 2015

Azure PO Box 1616 New Farm Qld 4006

To whom it may concern, RE: RENTAL APPRAISAL ‘THE GROVE’ PROGRESS RD, RICHLANDS SPACE 8

Property Features:  3 Bedrooms  2 Bathrooms  2 Defined Living areas  Outdoor entertaining area  2 Car lock up garage  235m2

THE GROVE RICHL ANDS / 031

Upon inspection, I am of the opinion that in todayâ&#x20AC;&#x2122;s market your property is capable of achieving a weekly rent in the range of $420 to $450 with the above listed features. The rent achieved by this property will be influenced by the following factors: - Lease specifics, such as term and start date - The month of the year in which the property is available for rent - How motivated you are to reduce the vacancy period.

This assessment has been based on current rentals within your area and information gathered from our database of recent rented properties within a 1 km radius of your property. Address

Price

Description

49/137 Progress Rd 83 Old Progress Rd 23/83 Old Progress Rd

$380 per week $385 per week $375 per week

3 bed, 2 bath, 2 car 3 bed, 2 bath, 2 car 3 bed, 2 bath, 2 car

SPACE 3, 156-178 PROGRESS ROAD, RICHLANDS Indicative Tax Depreciation Schedule By obtaining a Tax Depreciation Schedule you will have the opportunity to reduce your tax assessable income, and therefore reduce the amount of tax you are likely to pay. This in turn can significantly enhance your hard earned after tax dollars and maximise your cash flow. Other services our Asset Services team offers:  Replacement Cost Estimates/Fire Insurance Reports  Sinking Fund Analysis  Personal Investment Analyses  Asset Registers  Capital Replacement & Maintenance Reserve Fund Reports  Due Diligence Reports

Contact:

Zac Gleeson

Phone: Email: Date:

07 3327 5000 zgleeson@mitbrand.com 3 August 2015

Please contact our Asset Services Team on 1800 808 289 for any further information.

THE GROVE RICHL ANDS / 33

04 June 2015

INDICATIVE DEPRECIATION SCHEDULE

Space 1, 156-178 Progress Road, Richlands The table below provides an indicative 10-year Forecast of the Depreciation using the Diminishing Value Method for Calculating the Decline in Value of the Depreciating Assets and uses the Prime Cost Method to calculate the Capital Works Deductions as required by the ATO.

TEN YEAR FORECAST Year 1

Year 2

Year 3

Year 4

Year 5

Year 6

Year 7

Year 8

Year 9

Year 10

Depreciation Allowances

$4,464

$3,545

$2,621

$1,970

$1,503

$1,163

$910

$720

$571

$459

Capital Allowances

$5,104

TOTAL

$9,568

$8,649

$7,725

$7,074

$6,607

$6,267

$6,014

$5,824

$5,675

$5,563

$ 12,000.00 $ 10,000.00 $ 8,000.00 $ 6,000.00 $ 4,000.00 $ 2,000.00 $ 0.00

YR 1

YR 2

YR 3

YR 4

YR 5

YR 6

YR 7

YR 8

YR 9

YR10

The First Year is based on a full year, ie:- 365 days. This is an Indicative Report, to be used as a guide only and as such cannot be used or relied upon as a Depreciation Report for Taxation Purposes. After Settlement, please contact our Asset Services Team at Mitchell Brandtman on 1800 808 289 or email bne@mitbrand.com to finalise your Tax Depreciation Report for inclusion in your Tax Return. Mitchell Brandtman is a firm of Quantity Surveyors and as such is not qualified to give professional advice on matters relating to taxation claims and returns. We are however qualified to advise on costs of plant equipment and building works. The report is produced on the terms and understanding that Mitchell Brandtman is not : 1) Responsible for the results of any actions taken on the basis of information in this document or any error in, omission from this document; 2) Engaged in rendering legal, accounting or taxation advice. Mitchell Brandtman provides independent professional advice and assistance to the construction and property industry.

03 August 2015

INDICATIVE DEPRECIATION SCHEDULE

Space 2, 156-178 Progress Road, Richlands The table below provides an indicative 10-year Forecast of the Depreciation using the Diminishing Value Method for Calculating the Decline in Value of the Depreciating Assets and uses the Prime Cost Method to calculate the Capital Works Deductions as required by the ATO.

TEN YEAR FORECAST Year 1

Year 2

Year 3

Year 4

Year 5

Year 6

Year 7

Year 8

Year 9

Year 10

Depreciation Allowances

$4,360

$3,552

$2,627

$1,975

$1,507

$1,165

$912

$721

$572

$460

Capital Allowances

$5,092

TOTAL

$9,452

$8,644

$7,719

$7,067

$6,599

$6,257

$6,004

$5,813

$5,664

$5,552

$ 10,000.00 $ 9,000.00 $ 8,000.00 $ 7,000.00 $ 6,000.00 $ 5,000.00 $ 4,000.00 $ 3,000.00 $ 2,000.00 $ 1,000.00 $ 0.00

YR 1

YR 2

YR 3

YR 4

YR 5

YR 6

YR 7

YR 8

YR 9

YR10

THE GROVE RICHL ANDS / 35

04 August 2015

INDICATIVE DEPRECIATION SCHEDULE

Space 3, 156-178 Progress Road, Richlands The table below provides an indicative 10-year Forecast of the Depreciation using the Diminishing Value Method for Calculating the Decline in Value of the Depreciating Assets and uses the Prime Cost Method to calculate the Capital Works Deductions as required by the ATO.

TEN YEAR FORECAST Year 1

Year 2

Year 3

Year 4

Year 5

Year 6

Year 7

Year 8

Year 9

Year 10

Depreciation Allowances

$4,161

$3,499

$2,614

$1,982

$1,524

$1,185

$931

$737

$588

$472

Capital Allowances

$5,993

TOTAL

$10,154

$9,492

$8,607

$7,975

$7,517

$7,178

$6,924

$6,730

$6,581

$6,465

$ 12,000.00 $ 10,000.00 $ 8,000.00 $ 6,000.00 $ 4,000.00 $ 2,000.00 $ 0.00

YR 1

YR 2

YR 3

YR 4

YR 5

YR 6

YR 7

YR 8

YR 9

YR10

04 June 2015

INDICATIVE DEPRECIATION SCHEDULE

Space 4 & 5, 156-178 Progress Road, Richlands The table below provides an indicative 10-year Forecast of the Depreciation using the Diminishing Value Method for Calculating the Decline in Value of the Depreciating Assets and uses the Prime Cost Method to calculate the Capital Works Deductions as required by the ATO.

TEN YEAR FORECAST Year 1

Year 2

Year 3

Year 4

Year 5

Year 6

Year 7

Year 8

Year 9

Year 10

Depreciation Allowances

$4,429

$3,414

$2,553

$1,938

$1,494

$1,163

$916

$727

$581

$467

Capital Allowances

$5,036

TOTAL

$9,465

$8,450

$7,589

$6,974

$6,530

$6,199

$5,952

$5,763

$5,617

$5,503

$ 10,000.00 $ 9,000.00 $ 8,000.00 $ 7,000.00 $ 6,000.00 $ 5,000.00 $ 4,000.00 $ 3,000.00 $ 2,000.00 $ 1,000.00 $ 0.00

YR 1

YR 2

YR 3

YR 4

YR 5

YR 6

YR 7

YR 8

YR 9

YR10

THE GROVE RICHL ANDS / 37

04 August 2015

INDICATIVE DEPRECIATION SCHEDULE

Space 6, 156-178 Progress Road, Richlands The table below provides an indicative 10-year Forecast of the Depreciation using the Diminishing Value Method for Calculating the Decline in Value of the Depreciating Assets and uses the Prime Cost Method to calculate the Capital Works Deductions as required by the ATO.

TEN YEAR FORECAST Year 1

Year 2

Year 3

Year 4

Year 5

Year 6

Year 7

Year 8

Year 9

Year 10

Depreciation Allowances

$4,152

$3,498

$2,613

$1,981

$1,523

$1,184

$930

$736

$587

$471

Capital Allowances

$5,867

TOTAL

$10,019

$9,365

$8,480

$7,848

$7,390

$7,051

$6,797

$6,603

$6,454

$6,338

$ 12,000.00 $ 10,000.00 $ 8,000.00 $ 6,000.00 $ 4,000.00 $ 2,000.00 $ 0.00

YR 1

YR 2

YR 3

YR 4

YR 5

YR 6

YR 7

YR 8

YR 9

YR10

04 June 2015

INDICATIVE DEPRECIATION SCHEDULE

Space 7, 156-178 Progress Road, Richlands The table below provides an indicative 10-year Forecast of the Depreciation using the Diminishing Value Method for Calculating the Decline in Value of the Depreciating Assets and uses the Prime Cost Method to calculate the Capital Works Deductions as required by the ATO.

TEN YEAR FORECAST Year 1

Year 2

Year 3

Year 4

Year 5

Year 6

Year 7

Year 8

Year 9

Year 10

Depreciation Allowances

$4,937

$3,787

$2,853

$2,178

$1,686

$1,317

$1,041

$827

$661

$533

Capital Allowances

$5,445

TOTAL

$10,382

$9,232

$8,298

$7,623

$7,131

$6,762

$6,486

$6,272

$6,106

$5,978

$ 12,000.00 $ 10,000.00 $ 8,000.00 $ 6,000.00 $ 4,000.00 $ 2,000.00 $ 0.00

YR 1

YR 2

YR 3

YR 4

YR 5

YR 6

YR 7

YR 8

YR 9

YR10

THE GROVE RICHL ANDS / 39

04 June 2015

INDICATIVE DEPRECIATION SCHEDULE

Space 8, 156-178 Progress Road, Richlands The table below provides an indicative 10-year Forecast of the Depreciation using the Diminishing Value Method for Calculating the Decline in Value of the Depreciating Assets and uses the Prime Cost Method to calculate the Capital Works Deductions as required by the ATO.

TEN YEAR FORECAST Year 1

Year 2

Year 3

Year 4

Year 5

Year 6

Year 7

Year 8

Year 9

Year 10

Depreciation Allowances

$5,053

$3,779

$2,846

$2,172

$1,681

$1,313

$1,036

$823

$657

$530

Capital Allowances

$5,094

TOTAL

$10,147

$8,873

$7,940

$7,266

$6,775

$6,407

$6,130

$5,917

$5,751

$5,624

$ 12,000.00 $ 10,000.00 $ 8,000.00 $ 6,000.00 $ 4,000.00 $ 2,000.00 $ 0.00

YR 1

YR 2

YR 3

YR 4

YR 5

YR 6

YR 7

YR 8

YR 9

YR10

T H E ‘A’ T E A M

THE CORSO HOUSE, BESPOKE RESIDENCE

THE DEVELOPER

Our pursuit of multi-faceted excellence ultimately has one simple aim - to say to you, “welcome home.” Azure Developments

WHEN THE TIME IS RIPE, OPPORTUNITY ARRIVES The Grove is a community designed and created for this highly-connected area, where a balance between nature and the built environment is found through harmonious approaches to placemaking. As an Award Winning Developer, Azure’s acute awareness of the importance of the relationship people develop with places inspires the strategic masterplanning of communities like The Grove. Azure also has a fundamental sense of the importance of beautiful, striking and articulate design, and the way materiality and the quality of workmanship are vital to achieve an end result we are proud to put our name to.

CONTACT THE AZURE SALES CONCIERGE ON +61 7 3227 1575 T H E G R OV E 1 5 6 - 1 7 8 P R O G R E S S R OA D, R I C H L A N D S 4 07 7 THEGROVERICHLANDS.COM.AU