QUESTIONS AND ANSWERS FOR

BLOCKS 15 & 16 SECTION 17 YARRALUMLA

ISSUED IN ACCORDANCE WITH PARAGRAPH 3.7 OF THE GENERAL SALES INFORMATION Q1. If the blocks are not sold at auction or in the subsequent 3 days of

negotiation with the highest bidder, will they then be available for sale by negotiation?

A1. Please refer to section 7.4 of the General Sale Information: If the highest Bidder 1. fails to notify the Agency of its intention to negotiate within a

reasonable time; 2. notifies the Agency that it does not wish to negotiate with the Agency

on the Land; or 3. notifies the Agency that it wishes to negotiate and an agreement is

not reached by the time and date specified in paragraph 7.3 of this General Sales Information,

then the further use or sale of the Land will be at the Agency’s sole and absolute discretion.

Q2. Is it possible to offer the two blocks for auction together before offering them separately if the reserve price for both has not been achieved?

A2. The blocks will be offered separately. If the reserve price is not achieved the conditions referred to in Question 1 will apply.

Q3. Is it possible to offer block 16 before offering block 15? A3. The order in which the blocks are offered for auction will be determined by the

Land Development Agency in consultation with their appointed sales agent. Q4. If block 15 were offered first, would a bid for the block conditional on

successfully bidding for block 16 be acceptable? A4. No.

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Q5. When and how will the reserve prices for the blocks be indicated to bidders?

A5. The block will be subject to an undisclosed reserve. As per the requirements of schedule 1 of the Civil Law (Sale of Residential Property) Regulation 2004 the auctioneer will advise bidders when the block is “on the Market”.

Q6. What will be the land valuation for rating purposes, or how will the value be determined? Will it be the same as the value for stamp duty?

A6. The land valuation for rating purposes is a matter for the Commissioner of Revenue. Rates will be determined in accordance with the Rates Act 2004 (ACT). The duties payable will be determined under the Duties Act 1999 (ACT), being the higher of the sale price or the market value of the land.

Q7. Has the specimen lease been approved by the National Capital Authority?

A7. Yes, the specimen Crown leases included in the sales package have been endorsed by both the National Capital Authority and Planning and Land Authority.

Q8. If the building erected on the site/s had all its sewerage demand located in the portion of the site/s which is accessible to the external sewer service by gravity feed, would the works described in clause 35 of the contract of sale still be required?

A8. No, if all the sewerage from the improvements is designed to gravity feed to the existing sewer system the work specified in clause 35 of the contract for sale will not be required. However, subclause 35.4 still applies in respect of all improvements.

Q9. Is the sewer pump system, rising main etc necessary if all the building’s wet areas were carefully located?

A9. No, provided that all the wet areas can be designed to drain to the existing gravity feed system. Please refer to the attached drawings for the approximate extent of gravity fed sewer serviceability.

Q10. Where is the “Heavy Duty Concrete Driveway” mentioned in prescribed conditions for associated works required to be built?

A10. It is shown on the drawing in the Site Investigation Report dated February 2012 for the Crown lessee to construct.

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Q11. Is the driveway wholly within the sites?

A11. No

Q12. Is a single driveway serving both sites acceptable?

A12. No, the blocks are required to have separate driveways (Site Investigation Report dated February 2012). Please refer to the Site Investigation Report dated February 2012 including the attached drawings showing the driveways to both the blocks.

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