SDOT2 Product Disclosure Statement - Stockland

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30 6. The Leases and the Tenant (cont.) Partial surrender Assignment and sub-letting Signage and naming rights Optus may, on the seventh anniversary of Lease Commencement, surrender Building A (approximately 18% of the total leased area), provided that not less than 18 months' notice is given. In this instance, the Optus lease for Building A and B will be varied to apply only to Building B with appropriate adjustments in rent and outgoings. Optus may elect to hand back its exclusive common area relating to Building A and pay for certain works to separate the Buildings from an operational perspective. MPT will also be required to pay for certain works. Optus will also surrender 356 undercover and 18 uncovered car spaces. Optus may assign the Optus Lease to a related entity of Optus or the Guarantor of the Optus Lease without the lessor’s approval. Subject to the lessor’s approval and the conditions of the Optus Lease, Optus may sub-let or license its interest in the Optus Lease. The guarantee is not prejudiced in either situation. While Optus is the tenant of four or more of the Buildings it has the right to name and alter the name of the Property subject to the lessor's approval. At the end of the Optus Lease Optus must remove the signage, services and structure but is not obliged to repair any surfaces. 6.3 Overview of Optus and the Guarantor of the Optus Lease Optus is the second largest telecommunications company in Australia, and provides a broad range of communication services including mobile, national and long distance services, local telephony, business network services, internet and satellite services and subscription television to customers throughout the country. Optus had revenues of approximately A$6.9 billion in the year ended 31 March 2005. The obligations of Optus under the Optus Lease are guaranteed by SingTel Optus Pty Limited, rated A+ (stable) by Standard & Poor's (refer to Section 15.10).
7. About Stockland 31 7.1 Overview of Stockland Stockland is one of Australia’s largest diversified listed property groups, with a market capitalisation of approximately $7.5 billion as at 15 June 2005. Stockland owns and manages an investment portfolio valued at $7.7 billion as at 31 December 2004. Stockland is rated A- (stable) by Standard & Poor’s (refer to Section 15.10). Stockland has two business components, Stockland Trust and Stockland Corporation. Stockland Trust owns investment assets across Australia and New Zealand comprising commercial office, shopping centre, industrial and office park properties. Stockland Corporation operates a real estate management and development business in Australia spanning residential estates, apartments, hotels, retail projects and large mixed use sites. Stockland Corporation also operates nine hotels around Australia under the Saville brand. The Unlisted Property Funds division of Stockland is responsible for the establishment and the ongoing management of funds and syndicates to provide both wholesale and retail investors with direct property investment opportunities across each of the major property sectors. Stockland’s Commercial and Industrial Property division has specialist expertise in commercial property acquisition and disposal, asset management, development, leasing, engineering services, finance, property administration and property management. It currently owns 55 properties valued at $2.6 billion as at 31 December 2004. Stockland Trust intends to hold at least a 31% indirect interest in the Property on Lease Commencement through its investment in MPT and also intends to hold a further indirect interest through a 5% investment in the Trust. Stockland’s vision as an owner and manager is to provide a high level of integrated property management services, where tenants deal directly with the property owner. Stockland is a significant participant in the Macquarie Park property market (it owns six properties in Macquarie Park) and closely follows the movements in the demand and supply cycles for office space and property values. Further information about Stockland can be obtained from its internet site: www.stockland.com.au. Stockland ASX Code SGP Rated A- (stable) by Standard & Poor’s* Stockland Corporation Limited Stapled Security Stockland Trust Unlisted Property Funds Hotel Management Residential Development Trust and Property Management Shopping Centres Commercial and Industrial Property * Section 15.10 provides information about the ratings.
Page 1 and 2: Optus at Macquarie Park Stockland D
Page 3: Dear Applicant On behalf of Stockla
Page 6 and 7: 02 What you need to do Applicants w
Page 8 and 9: 04 1. Key Investment Features (cont
Page 14 and 15: 10 2. Details of the Offer (cont.)
Page 16 and 17: 12 2. Details of the Offer (cont.)
Page 18 and 19: 14 3. The Trust (cont.) 3.2 Bank Lo
Page 20 and 21: 16 3. The Trust (cont.) If the Orig
Page 22 and 23: 18 3. The Trust (cont.) 3.8 Taxatio
Page 24 and 25: 20 4. Instalment Receipts (cont.) I
Page 26 and 27: 22 4. Instalment Receipts (cont.) 4
Page 28 and 29: 24 5. The Property 5.1 Description
Page 30 and 31: 26 5. The Property (cont.) 5.3 The
Page 32 and 33: 28 6. The Leases and the Tenant 6.1
Page 36 and 37: 32 7. About Stockland (cont.) 7.2 S
Page 38 and 39: 34 7. About Stockland (cont.) Tony
Page 40 and 41: 36 7. About Stockland (cont.) - Opt
Page 42 and 43: 38 8. Financial Information 8.1 Int
Page 44 and 45: 40 8. Financial Information (cont.)
Page 56 and 57: 52 9. Fees 9.1 Fees and other costs
Page 58 and 59: 54 9. Fees (cont.) 9.2 Additional e
Page 60 and 61: 56 9. Fees (cont.) 9.2.3 Interest a
Page 62 and 63: 58 10. Risk Factors 10.1 Introducti
Page 64 and 65: 60 10. Risk Factors (cont.) To the
Page 66 and 67: 62 10. Risk Factors (cont.) Given t
Page 68: 64 11. Valuation Report
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Page 76 and 77: 72 12. Financial Services Guide and
Page 78: 74 13. Taxation Report (cont.)
Page 82 and 83: 78 13. Taxation Report (cont.)
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80 14. Legal Report for Superannuat
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82 15. Additional Information (cont
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94 16. Glossary Term A-GAAP A-IFRS
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96 16. Glossary (cont.) Term Financ
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98 16. Glossary (cont.) Term Specia
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100 Guide to the Application Form (
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Page 2 J Bank account details for T
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Page 2 J Bank account details for T
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Stockland Funds Management Limited
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2. Privacy In order to be able to p
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