The Trustees Of The Roman Catholic Church For The Diocese Of Wollongong

1. 60-66 Kingston Street, Oak Flats The Trustees Of The Roman Catholic Church For The Diocese Of Wollongong

2. { Introduction 03 Executive Summary 04 Property Details 05 Property Synopsis 06 Recommendation to Improve Marketability 07 Current Market Conditions 08 Auction Results 09 Upcoming Auctions 10 Land Sales 11 Villa Home Sales 12 Estimated Sale Price 13 Recommended Method of Sale 14 Proposed Marketing Campaign 15 Proposed Marketing Timeline 16 Fee Structure 17 Agent Responsibility 18 MMJ Real Estate 2

3. } Thank you for the opportunity to present this sale and marketing proposal to you we look forward to welcoming you to the MMJ family. Our property specialists have assessed your property and are eager to commence marketing. Our sales and marketing proposal clearly demonstrates our ability to successfully assist you with the sale of this property. Our local knowledge coupled with our marketing strengths make us an easy choice to represent your property. We look forward to hearing from you in the future. Should you have any enquiries, please do not hesitate to contact your sales team. David Geary 0418 423 782 david.geary@mmj.com.au Yenson Mui0421 882 541 yenson.mui@mmj.com.au 3

4. } Property Address 60-66 Kingston St, Oak Flats Title Details Lot 225-228 DP 13638 Zoning 5(a) Site Area 2782.4m² approximately Prepared By MMJ Wollongong Ground Floor, 6-8 Regent Street, Wollongong NSW 2500 P: 02 4229 5555 F: 02 4226 2040 www.mmj.com.au Listing Agents MMJ Wollongong David Geary | Director | MMJ Residential Sales M: 0418 423 782 E: david.geary@mmj.com.au Geoff Jones | Managing Director P: 4229 5555 E: geof.jones@mmj.com.au Dale Whittaker | Director | MMJ Shellharbour City M: 0414 376 720 E: dale.whittaker@mmj.com.au Date Prepared February 2013 Recommended Method of Sale Auction Fee’s & Charges 2.39% including GST Anticipated Sale Price Each individual lot valued at $230,000 - $245,000 with all four lots combined at a value of $900,000 - $1,000,000 4

5. } Address 60-66 Kingston St, Oak Flats Land Size 2782.4m2 Location The subject land is located in the South Western end of Kingston Street and situated on the Northern side of the street. Description The subject property comprises of 4 adjoining lots which are all separate titles. On one of the site is an older still building previous used by the Roman Catholic Church Current use The land is currently used by All Saints Catholic Parish as a mass centre and for the provision of their community services and groups. 5

6. } • We understand that the site will be shortly converted to an R3 zoning-Medium Density Residential. Taking this new zoning into account we confirm the Kingston Street site options in the market place have greatly increased. When considering a market opinion we have considered the following: • A current sale in one line to a purchaser to utilise the site and building as it stands • A current sale in one line to a purchaser buying the site as a villa or townhouse site. • A current sale as individual lots to a purchaser for the purpose of a housing lot or duplex site. • A current sale to a purchaser buying two lots adjoining The properties highest and best use would be selling to a developer as a villa or townhouse site.  Having considered the above options we would like to note that any further development to the site is subject to the local councils approval.   We are pricing the site with the consideration that there is no storm water drainage issues and or any unknown easement that a developer and council would find to be detrimental to any further development. Full analysis of property here. Full analysis of property here. Full analysis of property here. Full analysis of property here. Full analysis of property here. Full analysis of property here. Full analysis of property here. Full analysis of property here. Full analysis of property here. Full analysis of property here. Full analysis of property here. 6

7. } • There are a number of key attributes to making sure that your property is in peak condition to ensure a quick and profitable sale. • Current survey available • Asbestos report on the existing building • Drainage plans to be available in the contract • Site to be continually maintained throughout the process, including grass areas • Full details of council rates and water rates • Full marketing site plan • We feel that without these items completed it is unlikely that any purchaser will make a decision about the purchase of the property at it’s optimum price. 7

8. } The concerns with selling the property in the current market place will be the ability of purchasers to access funding and/or sell another property to purchase the subject land. However, the sales campaigns for other land sales have produced encouraging enquiry levels, with a reasonable number of these parties being qualified to transact. We have previously sold many lots and homes in the adjoining areas and feel confident that we can find a current buyer in today's market. In spite of this, we are still targeting a significantly smaller target market than we would have been pre-GFC. Therefore, it is our opinion that we will need to ensure, that as many qualified buyers as possible from local to state are contacted. 8

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10. } Upcoming Auctions MMJ Wollongong Auction & EOI Results for Residential Property over the last 6 months 10

11. } Land Sales CURRENT LISTINGS At the time of this report there were no comparable vacant lots or duplex sites listed for sale in close proximity to the subject site. 11

12. } Villa Home Sales – Used in the equation for the appraisal CURRENT LISTINGS At the time of this report there were no comparable vacant lots or duplex sites listed for sale in close proximity to the subject site. 12

13. } Based on current market conditions and comparable sales evidence, should the subject property be placed on the market in the near future, we believe that an achievable sales range would be between: Lot 225 – $230,000 - $245,000 Lot 226 - $230,000 - $245,000 Lot 227 - $230,000 - $245,000 Lot 228 - $230,000 - $245,000 A combined value may achieve between $900,000 - $1,000,000 *The information set out above is a recommendation based on the agent’s knowledge and considered opinion of prevailing market conditions. This is not a valuation and should not be used or relied upon for such purposes, as a number of enquiries made during the normal course of valuation have not been undertaken. No liability will be accepted on the basis of information supplied. 13

14. { The method of sale chosen to sell your property is an important decision, as not all properties should be sold the same way. To maximise profits and minimise selling time, it is best to consider all options and choose the most appropriate for your requirements. Having considered the available methods of sale, given the current economical climate the most appropriate method of sale we recommend is a sale by Public Auction. We believe that the subject property will attract strong enquiry and that placing all interested parties into competition against one another on Auction Day will ensure that the highest possible sales price is achieved. Our next multi-property auction for 2013 is scheduled for March 2013. 14

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16. { With the property market being such a diverse and complicated market place it is important to select a trusted agent with a proven track record. Fee Structure Our standard fee is 4% on the first $100,000 and 3% thereafter. However in this case, we are prepared to act on a reduced fee basis of:- 2.39% including GST Agency Conditions MMJ and Professionals will provide an Exclusive Selling Agency Agreement in accordance with the Property, Stock & Business Agents Act 2002 that will outline the terms and conditions of the marketing and sale of the property. The agreement will be in place for 90 days with a continuation agreement commencing from 90 days until a sale is achieved or a mutual decision is reached to terminate the Agency Agreement. Additional Charges Advertising funds are due and payable before marketing commences and are expended in accordance with the approved marketing budget. Advertising charges are subject to change due to price changes with external sources. MMJ also have the additional benefit of achieving group/bulk rates, which can sometimes reduce the cost of certain elements of your advertising budget which end up back in your pocket. 16

17. { • On appointment we will immediately commence proceedings to ensure the smooth sale of your property, this will include:- • Work with you to ensure your goals and requirements are clear to ensure they are met. • Liaising with your legal representative on the preparation of Contracts for Sale and other related documents • Implementing and monitoring all marketing & advertising activities for the duration of the campaign • Communicate with our qualified database of buyers and immediately notify them of the opportunity • Field new enquiries and provide relevant information to qualify and assess purchase ability • Weekly liaison with you to outline activity and opportunities for sale • Liaise with your legal representative during the sale process from offer to purchase to settlement. 17

18. } A significant factor to our proven results is our diverse range of specialist personnel. Our staff are solely dedicated to specific areas of commercial property including sales, management, leasing, town planning, valuation, marketing, project marketing and consultancy . Offering such niche services means our clients get tailored, targeted and effective results in the shortest possible time frame, whilst maximising the value in your asset. At MMJ we aim to deliver a market leading, superior service through an outstanding team. Our team is highly experienced and have the right attitude and training to deliver results to our clients. We focus on building long term relationships with a wide variety of clients to provide an integrated tailored service that is effective and maximise your property’s value. We attract, recruit and retain the best people in real estate. Our clients benefit from the edge and exceptional service that our people exemplify. MMJ retain their high level of staff because of the culture within the company. They provide the right environment where people are more likely to succeed and reach their potential. And when they do, its our clients that see the benefit. Our staff align themselves with the industry’s best by subscribing and joining associations like the Real Estate Institute, Property Council of Australia and RP Data. 18

19. OUR SERVICES MANAGEMENT Tenant Placement Expenses Management Repairs & Maintenance Arrears Control Asset Management SALES Pre Selling Advice Property Sales Sale by Auction Marketing MARKETING Tailored advertising campaigns In-house graphic designers Bulk advertising / discounts rates PROJECTS Land subdivision sales Industrial strata Commercial office buildings Mixed Use Developments Consultation On Site Sales Pre Selling Planning Cash Flow Management Town Planning TOWN PLANNING Property Consultancy/Advice Strategic and Statutory Planning Development Applications Rezoning Applications Master Planning Statement of Environmental Effects Reports VALUATION Rental Valuations Property Valuation Feasibility studies Property Consultancy Market research Land Tax Objections

20. } The service we received from David Geary was exceptional. We were kept informed on progress of the sale, and the transition went smoothly. We were more than happy to recommend David’s services to our friend’s and family. David negotiated an excellent sale price for our unit, we are very happy with all aspects of the sale from start to finish. He also sold us the unit and we appreciates his services on both occasions. ~ R & D Lee Over the past months in the process of selling our home and re-purchasing we have engaged the services of David Geary of MMJ Wollongong. We have been very pleased with the services David has given, both professionally and personally. David always followed up on any enquiries we made and returned the phone calls promptly, even called us in Queensland when necessary. His obliging manner and pleasant disposition made it a pleasure to deal with him. We recommend him to anyone requiring his professional skills. ~ Mr & Mrs Crane We have known David Geary for the past six months. In that time we approached David to sell two of our properties. We purchased another property through David. We have found David to be very Honest and hard working to achieve the best possible price for us. We wouldn’t hesitate in recommending David to anyone thinking of buying or selling property. ~ AG & OM After selling and also purchasing a property through MMJ Wollongong I have no hesitation in recommending David to any client either purchasing or selling a property. David Geary was very professional in his attention to us as a client and very prompt in way laying any concerns we may have had at that time. When selling our home we found him to be one of the best negotiators that we have ever dealt with and he always acting in our best interest. We feel that his negotiation skills achieved us a higher price than any other agent that we have previously used. We are glad that we chose him even though agents with less skills offered lower commissions. We are confident that the small percentage extra we paid achieve us a result better then any other agent. Our dealings with him have been of a high standard and his friendly manner and integrity appreciated. I am pleased to recommend MMJ Wollongong and David Geary for your property needs. ~ Mrs Christie and family 20

21. MANAGING DIRECTOR Significant sales Geoff has over 30 years experience in the disposal, valuation, auction and consultancy of residential, commercial and industrial real estate on behalf of clients primarily located in the Illawarra and Sydney regions. Geoff commenced employment with Martin Morris & Jones Pty Limited in 1974 as Residential Salesman, transferred to Head Office in 1980 as a Commercial / Industrial Salesman, and soon thereafter appointed Company Auctioneer and Head of Industrial / Commercial Department. Geoff became Managing Director of MMJ in 1986. GEOFF JONES

22. } You don’t have to go to the big guys and pay double to get international exposure. With technology rapidly advancing, staying in touch with the wider market is easier and more efficient than ever. MMJ Real Estate provides services across NSW & the ACT, however, our client reach extends to the nation and the world. MMJ's services are focused in and around our 6 offices locations in Sydney, Canberra and the Illawarra Region namely Wollongong, Corrimal, Dapto and Windang. We have the technology and systems in place to market to our local communities, the nation and the world. MMJ continually updates its systems and procedures to stay abreast of the latest trends and methods of advertising and marketing. 22