Brookfield's Wynyard Place Granted Development Approval

SYDNEY, 29 September 2015 – Brookfield Property Partners L. P. (“Brookfield”) has received State Significant Development (SSD) approval for Wynyard Place.

The SSD approval is a major milestone for the landmark Wynyard Place project, paving the way for the commencement of works which will transform the Wynyard precinct into a world class commercial and retail centre. The project is scheduled to be completed by mid-2019, aligning with the timeline of the new George Street Light Rail project.

The Wynyard Place project will deliver a dynamic new gateway to Sydney’s central business district. In addition to a new modern state-of-the-art office tower at 10 Carrington Street and restoration of the historic Shell House and Wynyard Lane, the project will include an upgrade of Wynyard Station’s George Street entrance connecting to a grand transit hall and public concourse flanked by aspirational retail.

President and Chief Operating Officer – Australian Office Division of Brookfield Property Partners, Kurt Wilkinson, said Wynyard Place will provide exceptional amenities and an exciting environment that will draw people together to work, shop, meet and relax.

“Wynyard Place has been designed by leading international architectural firm Make in collaboration with Sydney-based Architectus to create Sydney’s newest and most dynamic precinct built for the future and catering to the people who live and work here,” Mr Wilkinson said.

Wynyard Place will include 74,000 square metres of premium commercial, retail, and restaurant space. The project will consolidate four properties immediately adjacent to Wynyard Station into one unified centre including a 27 floor office tower, four levels of retail space and basement parking.

Mr Wilkinson said Wynyard Place will set a new standard in workplace design, offering major commercial tenants forward-focused office accommodation in the core of Sydney’s central business district. The tower maximises natural light access and provides efficient floor plates of up to 2,500 sqm easily adaptable to suit the needs of diverse businesses and working styles.

“Wynyard Place is at the very heart of Sydney’s CBD and will be interlinked with one of the city’s most active transport hubs. The project has been thoughtfully planned to attract exceptional companies keen to secure a quality office environment future-proofed to accommodate changing work needs,” Mr Wilkinson said.

The development will be integrated with New South Wales’ $2.2 billion Sydney light rail project. Brookfield has committed to the redevelopment of Wynyard Station’s transit hall which will interface directly with the City of Sydney’s pedestrian walkway and light rail project on George Street.

The redeveloped transit hall will provide excellent connectivity for Wynyard Station, light rail, bus, taxi and pedestrian networks with a world class concourse that will link more than 100,000 commuters daily into and out of the centre of the city.

About Wynyard Place

Brookfield’s development of Wynyard Place will transform Wynyard into a world-class urban precinct in the heart of Sydney’s CBD.

The project’s centrepiece is a 27-level premium grade commercial tower with a total net leasable area of approximately 58,000 sqm, offering world-class facilities, amenities and finishes, setting a new standard for workplace accommodation. The office tower will have premium grade floor space with large, efficient floor plates of up to 2,500sqm and market-leading environmental credentials.

The project includes restoration of Shell House, breathing new life into an historic Sydney landmark and creating 8,000 sqm of boutique office space and 1,500 sqm of retail.

Brookfield has a strong history of designing, delivering and managing premium assets in the world’s most prestigious locations.

About Brookfield

Brookfield Property Partners is one of the world’s largest commercial real estate companies with a goal of being the leading global owner, operator and investor in best-in-class commercial property assets. Brookfield’s diversified portfolio includes interests in over 130 premier office properties and over 150 best-in-class retail malls around the globe. The company also holds interests in multifamily, industrial, hotel and triple net lease assets through Brookfield-managed private funds. For more information, please visit www.brookfieldpropertypartners.com.

Media contact:

Kerrie Muskens

Head of Marketing and Communications

Brookfield

Ph: +61 2 9322 2753 or +61 410 535250

Forward Looking Statements

This announcement may contain forward-looking statements, including statements about the development of Wynyard Place, anticipated benefits of the proposed development and other matters that are not historical facts. You can identify these forward-looking statements by the use of words such as “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “seeks,” “approximately,” “predicts,” “targets,” “intends,” “plans,” “estimates,” “anticipates” or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. Brookfield does not undertake any obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise.