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NORTH TOWNSVILLE QUEENSLAND

Project Snapshot

TOWNSVILLE

Ø $11.8 Billion GRP - 7.8% p.a. GRP growth

Ø $2.4 billion in projects underway

Ø $2.7 billion in projects approved

Ø 2.7% p.a. population growth (02 - 07)

Ø 11.0 % increase in birth rate (07-08)

Ø 57% new residents 50-69 y.o. (housing demand)

Ø 42% of all residents renting (contract employment)

Ø Higher median income than State or National levels

Ø Australia’s strongest and most diversified economy/GDP Growth

Ø North Qld similar land mass to NSW, VIC, TAS & SA combined

Ø Northern & Southern Economies 1500km apart

Ø Northern economy strong & resistant to economic downturn

• Offshore export services

• Agriculture

• Defence

• Government

• Tourism (offshore and local)

• Small business

• Resources

• Resource Processing/Manufacturing

“North Queensland currently has a vacancy rate of around 0.3%” SQM Research May 2010 Unemployment rate for the area is currently 3.4% - workplace.gov.au/lmip “The key to Townsville's economy lies in its diversity - current GRP diversification is exceptional, representing a balanced and stable economy" - PRD Nationwide "The Queensland State Government has recently announced that the Townsville region is to be the next Slate Development Area after Gladstone - underwriting some 20 years of future economic growth" - T ownsville Enterprise Limited

RESOURCES - MANUFACTURING - DEFENCE – AGRICULTURE - EXPORT – GOVERNMENT

Townsville's metropolitan population is the

highest in North Australia, standing at 181,743

estimate 2009

"Australia best property hotspot" - Colliers

International Research

"Miners make Australia recession proof” - BIS

Shrapnel

"Queensland's most liveable city" – the

Midwood Report

Friday 21st May 2010 Market Profile

www.townsvillebulletin.com.au/more/market_profile.html

Townsville - Capture the growth!

• $11.6 billion economy with 12.4% growth!

• 4,000 new people each year come to the Townsville!

• Unemployment rate of 4.4%! • Demand for 1339 new homes each

year! • $14.5billion worth of projects on the

drawing board for Townsville! • 1,500 military personal are relocating

to Townsville in 2010! • Higher median income than state and

national median! • Lower median age than state and

national median! • Even the Cowboys home ground is

planning to get 3,000 more seats!

With a population exceeding 180,000, the twin cities of Townsville and Thuringowa are riding a wave of development fuelled by solid growth in mining, defence, construction and tourism.

Townsville is the transport hub for the region’s mining and agricultural industries. The Port of Townsville services the North West Mineral Province, Xstrata Copper Refinery, Sun Metals Zinc Refinery and QLD Nickel and is home to the new QLD Sugar Corporation Distribution Centre, contributing to a large proportion of Queensland’s exports.

Townsville is also a true lifestyle city with 300 days of sunshine a year, Magnetic Island and the Great Barrier Reef at its doorstep and three national sporting teams for entertainment. This combined with a younger population and higher median weekly income, compared to the state average; make Townsville a thriving city and a substantial market to target.

Education and health also play a major role in the economy with the established James Cook University and Townsville Hospital servicing the region. It is the diversity of its economy that has made Townsville resilient to change and provided a strong base from which to develop.

Introduction

Almost everyone has a need to invest to secure their financial future. A level of confidence was returning to financial markets after the Global Financial Crisis and with it, a feeling that the worst was possibly over. The third week in May 2010 has clearly demonstrated that global financial markets are still fragile and witnessed the Australian dollar plummet more in one week than it has ever done only for it to recover to parity with the $US by October. The share market is again showing the volatility of 18 months ago. It may well have recovered close to 50 per cent since its low of 3111.7 in March 2009 but after the recent collapses again in May/June 2010 to just above the 4000, it’s still got a long way to go before it reaches its 2008 peak of 6850 again.

Meanwhile property prices have continued to move up through the course of the year. According to figures from Australian Property Monitors (APM), Australian house prices had risen around 8% nationally at December 2009 and since then the median price in Sydney has gone from $546,000 to above $630,000. In Queensland, we have seen price rises of around 10% in the last two quarters.

Property remains the standout asset class, and most popular tool in successful wealth creation. It is for good reason that residential property is readily accepted by the banks as security for borrowing against to leverage investment returns. Residential property continues to show low volatility, robust rental yields, and significant tax benefit ‐ all based on an exceptional long term growth history, and future growth potential. The key to ensuring solid low-risk property investment with high potential for short-term growth is to locate your investment in an area of (1) High Economic growth; this invariably leads to (2) High job growth ; both these factors will result in (3) High population growth and as long as housing in the area is (4) Affordable. With these four points in place, price growth is inevitable. Even with some recent Reserve Bank interest rate rises, property is now as affordable as it has been for quite some time. With the world’s still volatile financial sectors, economists now agree that the next interest rate movement may be downwards! Interest expense has decreased substantially from a couple of years ago, and rental yields remain strong, providing a timely opportunity. Astute investors are again seeking the benefits and stability of bricks and mortar security. The last three quarters (Dec 2009/June 2010) have seen significant growth in the NSW and Qld markets demonstrating the beginning of a new growth cycle which will be sustainable in the more affordable market places as Australia faces the largest housing deficit in its history. It is no secret that the key to property investment performance lies in identifying a robust and affordable diversified economic region with strong population growth, and then finding a quality property with long term location and design appeal, thus ensuring both rental and purchase demand outstrip supply. In our fastest growing state, with less than half the population living in and around the capital city, Queensland offers a couple of stand-out investment opportunities in its high growth regional areas. These house and land packages, from one of the fastest growing and largest builders in Queensland , provide an exceptional and timely investment opportunity into the Townsville market.

The new Sanctum Estate is a master-planned community with beautiful open parkland right at your doorstep. It is the beginning of an impressive offering from homes in the Northern Beach area of Townsville. Already, 28 hectares of parkland run directly through the middle of the estate offering residents a beautifully landscaped environment with gardens and walkways and shared pergolas featured throughout. Approximately 3 hectares has been allocated for the development of a neighbourhood shopping precinct to include supermarket specialty stores, takeaway and childcare facilities. This site is located towards the northern end of the estate and is scheduled to be completed by 2013. In the adjoining new estate, Townsville’s largest shopping centre will be developed and completed in stages over the coming years, with its first stages due to open in mid 2011. Sanctum will be just 3 minutes from this centre once the new North Shore Boulevard road is complete. There are also barbecue areas, fitness stations and playground areas along the way, enabling families to find the perfect balance between work and life. The estate includes lot sizes to suit all types of families, ranging from 495m2 - 836m2 positioned perfectly to take advantage of the Sanctum lifestyle. The Northern Beaches offer all of life’s major amenities and more. Approximate travel times:-

• Townsville Hospital –15 minutes

• James Cook University –15 Minutes

• Lavarack Barracks –15 minutes

• CBD 20 minutes

• International Airport –15 minutes

• Domain Central –10 minutes

• Medical Centre –2 minutes

• Chemist –2 minutes

• 4 –8 minutes away from major public and private schools catering for early learning years up until high school.

Locality Map

Local Context

Queensland continues to shine as one of Australia’s

leading economically successful states, with record

levels of business investment, government provision

through infrastructure and an exceptionally strong rate

of population growth, fuelling performance.

As at March 2009 Queensland was home to 4.38M

people* with the Queensland Government forecasting

population growth of two million in the coming 20 years

and four million over the next 50 years to reach eight

million people.

Unlike any other state in Australia, well over half the

population of Queensland live well outside the capital

city, Brisbane, and outside of the South East Queensland

area.

Some of these more highly populated areas like the mid

north coastal area (Gladstone), the inner western area

(Toowoomba) and the North and Far North area

(Townsville and Cairns) have experienced faster

population growth and much greater economic growth

over the last 10 years than the booming Brisbane and its

surrounds.

The Queensland Government population forecast report

(3rd edition) notes that high population growth is

expected in the short term with nearly 95,000 people

adding to the population each year to 2016. This will be

driven by births along with interstate and international

migration. Net overseas migration to Queensland

totalled 52,600 persons in the year ending 31 March

2009, the highest annual total since the introduction of

the ABS measurement series in 1971 (and as a

proportion of population, a higher percentage increase

to population of new migrants than any other State).

NSW accounted for almost two-thirds of the 20,000 –

30,000+ people moving interstate to Queensland over

the last decade, and as recently reported on the ABC

news, a sharp rise in interstate migration to Queensland

has been recorded again in the first quarter of 2010, as

property prices in Sydney continue to become even

more unaffordable.

Qld dominates interstate migration

ABC News Updated Fri Mar 26, 2010 11:57am AEDT

Queensland dominates interstate migration with 16,000 people moving here in the past 12 months.

New figures show Australia's population is continuing to grow at almost double the rate of the rest of the world.

The growth rate of 2.1 per cent is faster than many Asian countries including India, Indonesia, and the Philippines.

Population researcher Professor Graham Hugo says with 35 million expected by 2050, a population policy is needed now.

"We really do need I believe a fully informed multi-disciplinary examination of Australia's future population," he said.

Immigration accounts for two-thirds of national growth.

Queensland dominates interstate migration with 16,000 people moving to the state in the past 12 months.

New South Wales, South Australia, and the ACT lost residents to other states.

TABLE 1 (Source: ABS, Australian Demographic Statistics, 25/3/2010, cat. no.3101.0)

SEPTEMBER 2009 KEY FIGURES

Population at end Sept qtr 2009 Change over previous year Change over previous year

PRELIMINARY DATA

'000 '000 %

New South Wales 7 165.4 117.0 1.7

Victoria 5 473.3 117.9 2.2

Queensland 4 450.4 115.2 2.7

South Australia 1 629.5 20.9 1.3

Western Australia 2 259.5 64.3 2.9

Tasmania 504.4 5.0 1.0

Northern Territory 227.0 5.1 2.3

Australian Capital Territory 353.6 6.5 1.9

Australia(a) 22 065.7 451.9 2.1

TABLE 2: Actual and projected percentage share of Queensland state population per statistical division as at 30 June

1986, 2006 and forecast to 2031

Statistical Division 1986 Brisbane 45.5

2006 44.5

2031 43.5

Gold Coast 8.2 12.7 14.1 Sunshine Coast 4.4 7.2 8.0 West Moreton 2.6 1.8 2.1 South East QLD 60.7 66.1 67.6 Wide Bay Burnett 6.5 6.6 6.5 Darling Downs 7.0 5.5 5.2 South West 1.1 0.6 0.4 Fitzroy 6.1 4.9 4.8 Central West 0.5 0.3 0.2 Mackay 4.5 3.9 4.1 North/Far North 12.2 11.2 10.6 North West 1.4 0.8

0.6

SOURCE: Queensland Population Projection 2056 3rd Edition *ABS, Bureau of Statistics

Queensland in the Australian Context

The saying goes “Make hay while the sun shines.” So is it really any surprise that Queensland, the Sunshine State, is re-establishing its nation leading economic growth in virtually every key market indicator. Already this year, 2010, we have seen a Queensland Company sign the largest export contract in Australia’s history and the GFC as it heavily affected Queensland, is proving to be over. The facts 1: § The Queensland economy expanded by 5.1% in 2007‐08, well above 3.4% growth in the rest of

Australia. This represented the 12th consecutive year that the state’s economic growth exceeded growth nationally. While this growth has decreased over 2009, it still performed better than some other states and is on track for substantial growth again in 2011.

§ Over the past twenty years, Queensland’s resident population growth has averaged 2.3%, more

than double the 1.1% recorded in the rest of Australia. This faster rate of population growth in Queensland is largely attributable to levels of net interstate migration well above that of any other state. In addition, it is attracting approximately 20% of Australia’s increasing overseas migration, a larger percentage per head of population than NSW.

§ Several traditional factors have supported high levels of interstate migration into Queensland.

These include the state’s stronger economic growth and greater employment opportunities, lower cost of living, competitive taxation environment and preferable lifestyle.

Economic Growth

(annual % change)

Source : Office of Economic and Statistical Research Queensland With Queensland’s population increasing by around 1800 persons every single week over the past few years and a vastly stronger GSP, (Gross State Product), the Queensland dwelling sector has now outperformed the rest of Australia for eight of the past ten years. With its economic diversity, Queensland did suffer with the Global Financial Crisis. The latest Queensland State Accounts show that in real trend terms, Queensland Gross State Product (GSP) grew 0.9% in March quarter 2010, following an increase of 0.6% in December quarter 2009 and now on course for an impressive 3% growth over the next year. With major developers unable to gain funding for further development over 2009/2010, supply is

dwindling significantly and demand for owner/occupier and investment property remains strong,

driven by an increasing deficiency of stock, low rental vacancy rates and rising property returns.

Townsville QLD

With a metropolitan population of almost 182,000 (2009 estimate), Townsville is riding a wave of development fuelled by solid growth in mining, defence, agriculture, education, construction and tourism. The fourth largest city in Queensland is also “The Capital of the North” and as such, has a very large government administration looking after roads, transport, education, health, police and development. These drivers of the economy have demonstrated an almost “recession proof” regional economy.

Townsville is the transport hub for the region’s mining and agricultural industries. The Port of Townsville services the North West Mineral Province, Xstrata Copper Refinery, Sun Metals Zinc Refinery and QLD Nickel and is home to the new QLD Sugar Corporation Distribution Centre, contributing to a large proportion of Queensland’s exports.

Townsville is also a true lifestyle city with 300 days of sunshine a year, Magnetic Island and the Great Barrier Reef at its doorstep and three national sporting teams for entertainment. The recent large increase in population (one of the fastest growing cities in Australia) and city revitalisation projects have also seen an increasing trend of inner city living. This combined with a younger population and higher median weekly income, compared to the state average, make Townsville a thriving city. Education and health also play a major role in the economy with the well- established James Cook

University and Townsville Hospital servicing the region. It is the diversity of its economy that has made Townsville resilient to change and provided a strong base from which to develop.

Where else in Australia could you witness employment figures like these below?

Area Profile

• Unemployment Rate : 3.40 % • Job Seekers : 10 527 • Average Job Seeker Age : 33 • Average Job Seeker Unemployment Duration : 19 months • Working Age Population (15-64) : 150 519

2006 Census of Population and Housing Statistics

• Number of People who Identified as Indigenous (15-64) : 7 502 • Indigenous Employment Rate (15-64) : 43.6 % • Number of People Born Overseas (15-64) : 16 164 • Number of People Born in Non-English Speaking Countries (15-64) : 6 861 • Number of People Employed : 94 365 • Employment Rate (15-64) : 73.8 % • Employment Rate for People Born Overseas in Non-English Speaking Countries : 66.6 %

Area Profile Source : DEEWR administrative data March 2010 except for the unemployment rate which is a DEEWR Employment Service Area estimate, derived from DEEWRs Small Area Labour Markets Statistical Local Area estimates September quarter 2009 and the working age population which is ABS Estimated Resident Population (ERP) June 20

Population (estimate 2009) 181,743

Population growth 2.8%

Economy $11.2 billion

Economic growth 12%

Combined fastest growing LGAs outside of South East QLD

Higher median weekly income than the state average

Younger median age than the state average Source: ABS, Catalogue 3218.0; AECgroup, Townsville Regional Economy, Third Quarter

The facts above demonstrate one of the fastest economic

growth regions in Australia. This massive regional economic

growth has obviously transferred to large job growth,

witnessed in the large population growth and the extremely

low unemployment. The ABS also states areas such as

Townsville usually notice a significant rejuvenation effect,

because those moving are generally younger and usually

below 30 in age. Townsville could have been the prime

“model” for this statement. Even with one of the highest

average income levels in Australia, Townsville also has one

of the largest rental markets with 42% of all residents

renting. This is due to the high number of young contract

employees and of course, the very Defence Force presence,

both army and RAAF.

It is obvious from the following vacancy rate tables, that

Townsville, like Sydney and Brisbane in particular, has a

large increasing deficit of housing stock.

Prices in Sanctum demonstrate that modern housing in

excellently designed and master-planned communities close

to the city can still be affordable but the upward rising price

spiral is also witnessed in Townsville with Castle Hill being

the second most expensive suburb in the whole of

Queensland.

Townsville Bulletin

Townsville's hilltop millionaires

STAFF WRITERS March 2nd, 2009 WE always knew Castle Hill was the playground of Townsville's rich and famous - but now it ranks on a state level.

Townsville's top suburb has hit the big time by coming second in a list of Queensland's most elite suburbs.

Australian Property Monitors March 2009 research has ranked Castle Hill, with a median house price of $1.34 million, equal with Rochedale, a former farming area south of Brisbane, and just behind Mermaid Beach which has a median price of $1.35 million.

Castle Hill's flying entry into the rich list follows a huge annual growth rate of 73.3 per cent in the past year.

The controversial downfall of failed Townsville-based investment group Storm Financial is most likely behind the suburb's startling rise, according to Real Estate Institute of Queensland chairman Peter McGrath.

"Castle Hill is the number one spot in Townsville and where many wealthy residents choose to live, but with the unfortunate demise of Storm Financial, many of those people have been forced to sell," he said.

"There are some beautiful homes on Castle Hill and it would not take many sales there to push the median up."

Economist Carey Ramm said the prestige suburb was riding on the back of a strong regional economy which had given people the confidence to upgrade in the top end

Townsville is on the north-eastern coast of Queensland. Adjacent to the central section of the Great

Barrier Reef, it is in the dry tropics region of Queensland. Townsville is Australia's largest urban

centre north of the Sunshine Coast, with a 2006 census population of 143,328, and a 2008–2009

estimated population of 181,743, an unbelievable population growth almost 8% over a 3 year

period. Currently the unofficial capital of North Queensland, Townsville hosts a significant number

of governmental, community and major business administrative offices for the northern half of the

state.

Popular attractions include 'The Strand', a long tropical beach and garden strip; Riverway, a riverfront parkland attraction located on the banks of Ross River; Reef HQ, a large tropical aquarium holding many of the Great Barrier Reef's native flora and fauna; the Museum of Tropical Queensland, built around a display of relics from the sunken British warship HMS Pandora; and Magnetic Island, a large neighbouring island, the vast majority of which is national park. Fine dining and night life is well catered for in the lively Palmer Street and Flinders Street precincts of the CBD respectively.

Conventional urban development continues to expand west, north and south into the former rural areas surrounding the city. Inner city high-density development has also created population growth and gentrification of the central business district (CBD). One significant contributor to CBD development was the construction of a new rail passenger terminal and moving the railway workshops, releasing prime real estate which formerly belonged to Queensland Rail for the development of residential units, retail projects and a new performing arts centre. The skyline of Townsville's central business district has undergone dramatic changes over the last few years, with a number of new high-rise buildings, both commercial and residential, constructed.http://en.wikipedia.org/wiki/Townsville,_Queensland - cite_note-19

Panorama of Townsville's suburbs from Mt Stuart, with Magnetic Island in the distance

In the short term, much of the urban expansion will continue to the west and the north. The most significant of these includes the new Sanctum Estate on the North Shore, part of a new AU$1 billion 5,000-lot housing development, located close to the Bruce Highway, just north of the Bohle River.

The Townsville Regional Economy is widely credited as being the most diverse of its kind in Australia. Its recent performance has outstripped neighbouring economies, with growth peaking in 2004-05 at a 12% increase in Gross Regional Product over the median term, and 7.8% in 2006-07, for an average rate of approximately 9% per financial year. Tourism is still a very small but growing part of this economy. It has of late helped in the city's expansion, though its traditional role is an industrial port (via the Port of Townsville) for exporting minerals from Mount Isa and Cloncurry, beef and wool from the western plains, as well as sugar and timber from the coastal regions, trades which continue to influence corporate growth strategies.

Above: Artist's impression of the Townsville Ocean Terminal and Breakwater Residential Development. The

new, dedicated wharf and purpose-built passenger hall are part of a billion dollar redevelopment of the

city's Western Breakwater area adjacent to the existing casino and entertainment centre.

Economic growth in the region was not restricted to heavy industry growth attributed to the resources boom under the Howard Government, [as] the region’s tourism growth also outstripped

neighbouring regions. Residents in Townsville have average household incomes about 10% above the state average: it is closer to the New South Wales average than the Queensland average.

The city remains popular with tourists drawn to Magnetic Island and the Great Barrier Reef. There are excellent diving and snorkelling facilities, with a variety of vessels using the port as a home base for their reef tourism activities.

Demographics

Townsville has a younger population than the Australian and Queensland averages. The city has traditionally experienced a high turnover of people, with the army base and government services bringing in many short to medium term workers. The region has also become popular with mine workers on fly in/fly out contracts. Major improvements to the lifestyle infrastructure over the past 10 years has led to a higher living standard, and consequently the population boom.

Economy

The six pillars of Townsville’s unbelieve growth is:-

• Resources

• Manufacturing

• Defence

• Export

• Agriculture

• Government

Thanks to its privileged position amongst the wonders of the tropical north of Australia and its proximity to the rich North-West Minerals Province, the Townsville industry and business community contributes $12 billion to the Australian economy each year and as one of Australia's fastest growing and most diverse economies, it plans to maintain its position as a leading investment destination in the future. In 2004 there were 16,372 businesses in Townsville.

The city has its own manufacturing and processing industries. Townsville is the only city globally to refine three different base metals—Zinc, Copper and Nickel—and it is currently in strong contention for an aluminium refinery. Nickel ore is imported from Indonesia, the Philippines and New Caledonia

Townsville cruise terminal approved Gabrielle Dunlevy | February 2, 2009 - 3:02PM

A $1 billion cruise ship terminal for

Townsville has gained Queensland

government approval.

Townsville could gain 4,600 jobs over the next 15 years if the terminal clears the remaining federal government hurdles.

Premier Anna Bligh said the cruising holiday market was the largest growing area of tourism, and would provide huge benefits for the city.

The government had committed to providing $16.5 million for construction of the terminal, which should generate $209 million into the local economy.

"This is $200 million of investment in Townsville, in jobs, in tourism and in the long-term future of this region being spent in the next three years," she told reporters in Townsville.

Infrastructure Minister Paul Lucas said the project would create 1,900 jobs in construction, which could start early next year, for completion in about three years.

The terminal includes residential development, and was approved only with strict conditions from the Queensland coordinator-general, Mr Lucas said.

They include a 1km buffer between homes and Townsville Port's mineral loading berths, and residents agreeing to a package that includes limitations on their rights to make complaints about dust, odour and noise.

"The government makes no apology for a project with both residential and cruise ship terminal capability," Mr Lucas said. AAP

and processed at the Yabulu Nickel refinery, 30 kilometres north of the port. Zinc ore is transported by rail from the Cannington Mine, south of Cloncurry, for smelting at the Sun Metals refinery south of Townsville. Copper concentrate from the smelter at Mount Isa is also railed to Townsville for further refining at the copper refinery at Stuart.

Townsville has several large public assets due to its relative position and population. These include the largest campus of the only university in northern Queensland, James Cook University, the CSIRO Davies Laboratory, the Australian Institute of Marine Science headquarters, Great Barrier Reef Marine Park Authority, the large Army base at Lavarack Barracks and RAAF Base Townsville.

The city also boasts the largest Defence Force

establishment in Australia and as expenditure on Defence

continues to grow; Townsville takes more than its fair

share. Townsville City Council's $500 million, 10-year,

capital works program includes $700 million upgrades to

Lavarack Barracks in preparation for the arrival of the 3rd

Battalion in 2011/2012, from Sydney – a further estimated

1500 Defence Force personnel, creating at least another

3000 jobs in the local community and adding 1.3% to the

RDP overnight

The

CBD from Museum of Tropical Queensland with Castle Hill in

the background.

Education

There are over 60 private and State schools of primary and secondary education within the Townsville area. Townsville Grammar School is the oldest co-educational school on the Australian mainland.

MEDIA RELEASE Issued Monday, 22 June 2009 Solar in North Queensland: a bright idea Townsville Enterprise has welcomed Premier Anna Bligh’s Qld Renewable Energy Plan – and has renewed calls for solar thermal energy generation in Northern Queensland. The Premier’s announcement of funding for a study into an appropriate location for a solar thermal power station is timely. It follows the Federal announcement of $1.4 billion for the development of up to four power stations in Suitable areas. Townsville Enterprise Economic Development General Manager Lisa McDonald said regional development organisations from around northern Queensland had the foresight to produce a report that makes a compelling case for a Solar Thermal station in our backyard. “Regional Development bodies from Mackay to Cairns and west to Mount Isa commissioned ROAM Consulting – one of the Queensland Government’s leading energy consultants – to produce a report identifying North Queensland as a leading renewable energy Opportunity.” “The ROAM Consulting report identified a number of potential solar thermal sites and suggests that the North Queensland region is one of the best locations on the planet for this technology in terms of annual solar exposure.” “We will be working with the State Government to ensure our region is considered as the ideal location for a solar thermal power station in Queensland.” “ It’s as simple as looking at data publically available from the Bureau of Meteorology.” “Renewable energy is Northern Queensland’s best option for providing generation to our region, and our region will need an increased energy supply by 2013/14 when our demand for energy will outstrip the current system’s ability to be able to supply energy from central Queensland” .......region can build on that reputation to become the renewable energy powerhouse of Australia”

James Cook University

James Cook University (JCU) based in Townsville was established in 1970. JCU was the second university in Queensland and the first in North Queensland. The University has a strong and internationally recognised expertise in marine & tropical biology.http://en.wikipedia.org/wiki/Townsville,_Queensland - cite_note-39 The JCU Medical School was established in 1999 and is linked with the adjacent tertiary-level Townsville Hospital. The Veterinary Sciences undergraduate facility is the newest in Australia.http://en.wikipedia.org/wiki/Townsville,_Queensland - cite_note-40 In 2007 the University announced a $1 billion expansion, aimed at completely redeveloping the University campuses, facilities and attracting more students to JCU.

Vocational education

The city is home to the Barrier Reef Institute of TAFEhttp://en.wikipedia.org/wiki/Townsville,_Queensland - cite_note-43 - a Technical and Further Education College, a campus of the Australian Agricultural College Corporation and a new Australian Technical College – North Queenslandhttp://en.wikipedia.org/wiki/Townsville,_Queensland - cite_note-44.

Media and Communications

Townsville is the media centre for North Queensland, with 5 commercial radio stations, North Queensland ABC radio station, 3 commercial television stations, one regional daily newspaper and one community weekly newspaper.

Sport and recreation

Date: Monday, 6th July 2009

$67 million upgrade for CBD V8 mania was briefly put to one side this afternoon for the Federal Government to highlight a major funding package for the Townsville City Council’s revitalisation of the CBD.

The Commonwealth has formally signed off on $16.2 million in funding as its share of a three-way partnership with the council and the State Government in the landmark Flinders Street redevelopment.

Mayor Cr Les Tyrell welcomed the news from Federal Parliamentary Secretary for Infrastructure, Transport, Regional Development and Local Government Maxine McKew during a tour of the Flinders St Mall today.

Cr Tyrell said the formal agreement with the Commonwealth was significant for funding to start flowing for the $56.6 million project.

The council has already formally approved $18.9 million to the project over the next two financial years and is currently finalising funding terms with the Queensland Government for its commitment of $18.9 million

The redevelopment will create a dynamic new look for Flinders Street with wide footpaths and tree-lined streetscape, a large public plaza area, two-way slow moving traffic and improved public transport facilities. The council is aiming to finish the project in December 2010.

Flyover web link

http://www.townsville.qld.gov.au/council/initiatives/cbd/flyover

Local team, the North Queensland Cowboys, play at Dairy Farmers Stadium.

Townsville hosts several sporting teams that participate in national competitions. These include the North Queensland Cowboys (National Rugby League), the Townsville Crocodiles, (National Basketball League), the Townsville Fire (Women's National Basketball League) and the North Queensland Fury, a new A-League football (soccer) team. Rugby League is the dominant football code in North Queensland and the Cowboys are therefore the highest profile team.

A V8 Supercars race track is located in Townsville, and the inaugural annual Townsville 400 was held in July 2009.

Health

The primary public health facility for the region is Townsville Hospital. It is a teaching hospital

located next to the James Cook University School of Medicine and is the largest hospital in Australia

outside of a capital city, covering the largest geographic area of any hospital in Australia. It services

communities all the way north up to Papua New Guinea. Townsville Hospital has 460 beds with

services. The Hospital employs approximately 72 full-time specialist staff and 48 visiting specialists.

There are four other public health campuses in Townsville: the Kirwan Health Campus, the Magnetic Island Health Service Centre, the North Ward Health Campus] and the Townsville Hospital Dentist, located in North Ward.

In addition there are two private hospitals in Townsville, the Mater Hospital and the Mater Women's and Children's Hospital.

Transport

Most Townsville residents travel by car through the system of roads and motorways. Townsville is the intersection point of the A1 (Bruce Highway), and the A6 (Flinders Highway National Highways. The Townsville Ring Road will eventually become part of the new A1 route bypassing the urban areas of the city. Townsville's public transport system consists of bus services operated by Sunbus, providing regular services between many parts of the city. Public transport is also available from the

CBD to Bushland Beach. Regular ferry and vehicular barge services operate to Magnetic Island and Palm Island.

Rail services from Brisbane pass through Townsville and continue through to Cairns, including the regular Tilt Train service between Brisbane and Cairns. Townsville is a major destination and generator of rail freight services. The North Coast railway line, operated by Queensland Rail, meets the Western line in the city's south. Container operations are also common and the products of the local nickel and copper refineries, as well as minerals from the western line (Mount Isa), are transported to the port via trains. The Port of Townsville has bulk handling facilities for importing cement, nickel ore and fuel, and for exporting sugar and products from North Queensland's mines. The port has three sugar storage sheds, with the newest being the largest under-cover storage area in Australia.

The city is served by Townsville International Airport, recently announcing direct flights to Indonesia. The Airport handles direct flights to Brisbane, Sydney, Melbourne, Gold Coast, and Canberra as well as to regional destinations such as Cairns, Mount Isa, Rockhampton and Mackay.

DEMOGRAPHICS

2006 Census

Category

Townsville Australia

Occupation - Defence 6.1% 0.3%

Occupation - School Education 4.8% 4.5%

Occupation - Hospitals 4.0% 3.3%

Occupation - Cafes, Restaurants and Takeaway 4.0% 3.6%

Indigenous Persons 5.7% 2.3%

English only spoken at home 89.1% 78.5%

Population Statistics

Historical yearly

population statistics

year Townsville

population estimate

2005 148 767 (+3%) ABS revised

2004 144 417 (+2.6%) ABS revised

2003 140 761 (+2.4%) ABS revised

2002 137 507 (+2.6%) ABS revised

2001 134 073 +9.5% since 1996

figures from 2001 Census

2009 181,743

estimate

Born in Australia 81.6% 70.9%

0–4 years old 7.1% 6.3%

5–14 years old 14.6% 13.5%

15–24 years old 16.8% 13.6%

Summary It is difficulty to find a more compelling arguement for safe property investment in Australia today. We know that price growth in property is a result of Supply and Demand. We are also aware that demand can only occur when we have strong economic growth, leading to job growth and population growth. As long as property is affordable in such an area, price growth is inevitable. The clear underlying economic strengths in NQ – Clear understanding that all established property markets perform similarly over time re capital growth percentage - the key being: investment timing, taking advantage of currently strongly performing economies and markets as above.

In the Sanctum Estate, at Mt Low in Townsville, we have identified a development that more than

caters for all of Lime Property First’s extensive selection criteria. A community-based master-

planned development catering for the needs of tomorrow’s future market, excellent micro and

macro infrastructure and facilities, exceptionally low unemployment and a high standard of living in

one of Australia’s most rebust economic environments, reflected in the massive population growth

of the city over the last decade. In considering the differing global impact on various state/regional

economies and the uncertainty the global situation can create The Sanctum creates a clear

opportunity to today’s intelligent investor.

Let’s just summarize some of these main points again :-

ü Townsville’s Gross Regional Product is huge (almost $12 billion per year) and has been

growing around 7% per year, one of the fastest growing economies in the country, at a time

when some locations are struggling. (Source Townsville Enterprise 2008). Australia’s

strongest population & economic growth (State and regional)

ü More people rent in Townsville than in most other metropolitan areas (42%). Across the

nation, the average is about 30%.

ü Average wages are the highest in Queensland.

ü Townsville is powering while some other parts of the country are struggling.

ü Government expenditure and a high proportion of workers on the government payroll

(including defence) makes Townsville close to ‘recession proof’. (Government workers and

the areas where they reside tend to be somewhat insulated from the

employment/redundancy cycles of big business).

ü Townsville hosts Australia’s largest and expanding Defence Force Base. Another regiment

from Sydney due to re-locate next year.

ü Inbuilt resilience to downturn + devalued $AUS

ü Economic strength & diversification

ü Medicine, Education and Administration are very significant in Townsville. Townsville

Hospital is the largest hospital outside the south east. James Cook University (JCU) rivals any

of Australia’s more established Universities in size with around 13,000 students and growing.

ü Proven owner/occupier product with high demand and excellent yield

ü Assured value, capital growth

Townsville References

1. "Regional Population Growth, Australia, 2008-09: Population Estimates by Statistical District, 2001 to 2009". Australian Bureau of Statistics. http://www.abs.gov.au/AUSSTATS/[email protected]/DetailsPage/3218.02008-09?OpenDocument.

2. "Schedule 1: Regional overviews", Queensland Government (Environmental Protection Agency): p. 13, http://www.epa.qld.gov.au/register/p00607ae.pdf, retrieved 20 September 2009

3. AEC group: Townsville Regional Economy, Fourth Quarter 2006. 4. "Townsville". Queensland Government. Department of Environment and Resource

Management. 3 February 2009. http://www.nrw.qld.gov.au/about/employment/townsville.html. Retrieved 20 September 2009.

5. "Vincent". Queensland Government. Department of Housing. http://www.communityrenewal.qld.gov.au/communities/operate/townsville_west/vincent.shtm. Retrieved 20 September 2009.

6. Trood, Russell. "Town profiles: Townsville". Liberal National Party of Queensland. http://www.senatortrood.com/QueenslandGuide/NorthQueensland/tabid/90/Default.aspx#tow. Retrieved 20 September 2009.

7. ^ "A Chronological History of Townsville 1901 to 1969". Townsville City Council. 2 November 2008. http://www.townsville.qld.gov.au/townsville/heritage/heritage_chronology2. Retrieved 20 September 2009.

8. Thuringowa City Council (15 November 2004). "History of Thuringowa". http://www.thuringowa.qld.gov.au/thuringowa/history/. Retrieved 2006-12-14.

9. Queensland Government LGP August 2007 based on average 2001 to 2006. 10. Queensland Government LGP Household Projections 2007 based on projections to 2026.

ABS Census 2006. 11. Roy Morgan Research 12. Townsville Bulletin

Disclaimer:

Certain information contained in this report is collated from external sources. No liability or responsibility is

accepted in relation to the accuracy of facts and opinions presented in the report.

The information is provided in good faith and entrusted commercially-in-confidence. Interested Investors

should rely solely on their own research in making any investment decision.

Sanctum

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