Mar
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Managing Director's Message March 2012

Mark Gray 28 Mar 2012

Leighton Properties' core competencies are in commercial and residential/mixed use developments. Whilst the property market still remains challenging our market sector focus aligned to these competencies are producing a growing pipeline of work as well as strong relationships with capital partners.

We began the year by announcing a 50/50 joint venture for the mixed use Mosaic Project in Fortitude Valley, Queensland, with The Carlyle Group. This led to the immediate start of construction of the 18 storey tower, which includes a Grand Chifley boutique hotel.

The 27 level King George Central commercial tower at Ann Street Brisbane continues to progress, and is on track for completion in Q3 2012. Our developments at Boggo Road and Ipswich are well underway with DAs lodged and construction underway for the first commercial tower at Ipswich.

In New South Wales, we jointly hosted a Topping Out ceremony at Eclipse Tower in Parramatta with Grovesnor and John Holland, commemorating the last slab of concrete poured at the 19 level tower. Guests included the New South Wales Premier, the Hon Barry O’Farrell, CEO of Leighton Holdings, Hamish Tyrwhitt and local Members of Parramatta Council.

Our Sydney residential development at Erskineville has achieved its early works DA and is expecting approval for main works DA soon. Interest in the development has already been strong, indicating the allure of the area and promise of great design by SJB Architects.

The office in Victoria celebrated a major milestone with the purchase of the WRAP residential development in Southbank, Melbourne. This is our first residential project in Victoria and will be jointly developed by Baracon in conjunction with Qualitas and Baron Corp. In ground works have commenced.

With the strong economic activity in West Australia we are excited at the opportunities in Perth with the Kings Square project achieving DA consent and potential for additional work on the redevelopment at East Perth on the horizon.

CONGRATULATIONS
We would like to congratulate Lisa Spence, our Manager of Corporate Strategy and her partner Chris on the birth of their daughter, Annabel Siena Keys on 12 March 2012. Lisa will be on maternity leave until the end of the year. We have divided her responsibilities and appointed Leigh Kearney as Human Resources Manager and Andrew Coward as Research and Marketing Manager. Please join me in welcoming Leigh and Andrew to the Leighton Properties team.

Mark Gray
Managing Director

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Mark Gray

Managing Director
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