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“The Waters” Retirement Living
    Development Proposal




                      Synergy Business Centre
                      PO Box 5335,
                      Wollongong NSW 2520
                      Level 1, 1 Burelli Street,
                      Wollongong NSW 2500
                      P: 02 4254 1054
                      F: 02 4254 1001
                      W: www.chamberdevelopments.com.au
Contents
Location                                   4

Access                                     5
   • By Car                                5
   • By Bus                                5
   • By Train                              5
   • By Plane                              5

Capacity                                   6

Council Support                            8

Local Services and Activities              9
   • Hospitals                             9
   • Shopping Centres                      9
   • The University of Newcastle           9
   • Shortland Waters Golf Club           10
   • The Forum Sport and Aquatic Centre   10
   • Volunteering                         11
   • The Hunter Valley                    11

Demographics                              12
   • Current Demographics                 12
   • Projected Population Growth          12

Retirement Living in Newcastle            13

Real Estate Sales History – Newcastle     15
   • Median House and Unit Sales          16
   • Recent Sales in Newcastle            16

Construction Schedule                     17

Resources                                 17

Reports                                   17

Qualifier                                 17

Appendices                                18
   • Appendix A                           18
   • Appendix B                           21
   • Appendix C                           49
   • Appendix D                           59




10 March 2010                                  CHAMBER DEVELOPMENTS   2
Chamber Developments is proud to propose
     “The Waters” Retirement Living Project for
     your consideration. We believe this project
     has the opportunity to provide a financially
     viable, sustainable and, most importantly,
     engaging retirement community for the
     population of Newcastle and its surrounding
     suburbs.

     “The Waters” (our working title) will be the
     latest in resort-style retirement living for
     discerning retirees who wish to pursue
     their interests and hobbies in a modern,
     sophisticated environment.

     “The Waters” is perfectly positioned on the
     grounds of a popular golfing facility. As part
     of the development of the site, Chamber
     Developments will be constructing a new
     Golf Clubhouse which will feature a bistro,
     gaming rooms, bar and conference facilities
     as well as upgrading the golf course. In
     addition, a motel will be built, serving not only
     golfing tourists and visitors to the conference
     centre, but also the families and friends of the
     residents of “The Waters” who will be able to
     visit in ease and comfort.




10 March 2010                                            CHAMBER DEVELOPMENTS   3
Location
                                           “The Waters” in relation to NSW




                                                                                                      “The Waters”




                                        “The Waters” in relation to Newcastle

   “The Waters”




The proposed “The Waters” Retirement Living Project is     ensures residents will have access to a broad range of
situated on approximately seven hectares of land which     activities outside of the environs of the retirement precinct
fronts the Shortland Waters Golf Club and adjoins the      itself. Chamber Developments believe this unique location
University of Newcastle and “The Forum” Health and         will ensure the Village will garner much interest from
Aquatic Centre. “The Waters”’ prominent location between   potential residents interested in pursuing active and fulfilling
the University, Golf Club and Health and Aquatic Centre    lives in retirement.




10 March 2010                                                                          CHAMBER DEVELOPMENTS               4
Access
By Car
The proposed project is 12 kilometres from Newcastle CBD
and two hours from Sydney on the F3. The site is adjacent
to the F3 Sydney to Newcastle extension, ensuring ease
of access for families located in either city. In addition, the
thriving communities of Hunter Valley and Port Stephens
are also within easy distance of the project.


By Bus
Residents of “The Waters” Retirement Living Project will
enjoy ease of travel thanks to the well-serviced University
of Newcastle campus. The university is serviced by
regular buses to Newcastle and the surrounding suburbs,
including:
   • Newcastle City
   • Charlestown
   • Lake Macquarie
   • Glendale
   • Cessnock / Kurri Kurri
   • Raymond Terrace
   • Medowie / Stockton
   • Port Stephens
   • North Coast.


By Train
The site is easily accessible by public transport with the
University / Warabrook Station only 500 metres away. This
station is fully disabled accessible. Trains leave regularly
from this station for:
   • Newcastle City
   • Maitland
   • Lake Macquarie
   • Central Coast / Sydney
   • Taree / Dungog
   • Upper Hunter Valley
   • Brisbane.


By Plane
For inter-state and international families, Newcastle
Williamtown Airport is located approximately 25 kilometres
from the proposed site. It is the fastest growing regional
airport in Australia with over one million people travelling
via the airport in 2009.




10 March 2010                                                     CHAMBER DEVELOPMENTS   5
Capacity
“The Waters” Retirement Living Project is capable of providing the full range of accommodation options. Potential
residents will enjoy the flexibility of choice and can be assured there will be an accommodation type to suit their needs.




                                                       New Site Plan




10 March 2010                                                                              CHAMBER DEVELOPMENTS             6
Chamber Development’s concept design is for:


                Precinct B – Existing Club Site
                (to be demolished)
                   • Commercial                             1500m²
                   • Independent Living Units              90 units
                       - 22% – 3 bed
                       - 56% – 2 bed
                       - 22% – 1 bed
                   • Golf Course Villas                    22 units
                       - 10% – 3 bed
                       - 90% – 2 bed


                Precinct C – Seniors Living
                   • Low/Highcare 130 single room units
                                          (30m²/room) 3900m²
                   • Community/Admin Facility               1500m²
                   • Commercial/Lifestyle/Health             500m²
                   • Independent Living Units             180 units
                       - 22% – 3 bed
                       - 56% – 2 bed
                       - 22% – 1 bed
                   • Golf Course Villas                    54 units
                       - 10% – 3 bed
                       - 90% – 2 bed


                Precinct A – New Club Site
                   • Golf club                              1500m²
                   • Proshop and Storage                     500m²
                   • Recreation and Lifestyle                800m²
                   • Multipurpose Function Centre           1200m²
                   • Motel 60 rooms                         2000m²



                These plans are a Concept Design and have been
                developed by BHI Architects in response to Chamber
                Development’s studies of the site and market. However,
                should you wish to proceed with the project, we look
                forward to the opportunity to further develop these plans
                jointly with you in order to ensure final plans are suitable
                to your needs prior to submission of the Development
                Application.




10 March 2010                                CHAMBER DEVELOPMENTS              7
View to Clubhouse




Council Support
The site currently has Development Approval for the construction of tourist and residential units. However, Chamber
Developments believes that these plans are unsuitable and have therefore proposed layout which will require a new
Development Application.
Consultation with town planners Worley Parsons indicate that the proposed plan is within the purpose of the Newcastle
Environmental Plan 2003 (NLEP 2003) and the State Environmental Planning Policy Local Housing for Seniors or People
with a Disability, 2004 (Housing for Seniors SEPP). In initial discussions with Newcastle City Council, their Town Planners
advise that the proposed plan is much more sustainable than the previously approved plan (See Appendix A).




10 March 2010                                                                              CHAMBER DEVELOPMENTS               8
Shopping Centres
                                                                                                                           Residents of “The Waters” will have excellent access to
                                                                                                                           four local shopping precincts and centres within an eight-
                                                                                                                           kilometre radius of the site. These centres are:
                                                                                                                              • Shortland Shops – 400 metres away
                                                                                                                              • Stockland Jesmond Shopping Centre –
                                                                                                                                2.1 kilometres away
                                                                                                                              • Stockland Wallsend Shopping Centre –
                                                                                                                                4.4 kilometres away
                                                                                                                              • Westfield Kotara Shopping Centre –
                                                                                                                                8 kilometres away.



                     Local Services                                                                                        The University of Newcastle
                                                                                                                           The location of “The Waters” adjacent to the University

                     and Activities
                                                                                                                           of Newcastle offers residents the opportunity for further
                                                                                                                           learning and personal development on their doorstep.
                                                                                                                           The university is recognised as the leading tertiary
                                                                                                                           education provider in the Hunter Region. It prides itself
                                                                                                                           on its diverse demographic, with over half the enrolled
                                                                                                                           students being mature age. There is a thriving support
                     Hospitals                                                                                             network for mature age students to ensure they get the
                                                                                                                           most out of their studies and university life.
                     The Hunter region is serviced by a robust Hunter New
                     England Health Service which is currently investing $1.18                                             Liaison between the Shortland Waters Golf Club and the
                     billion of State Government funds in the delivery of capital                                          University in the preparation of the existing Development
                     works projects across the region. The Calvary Mater                                                   Approval show that the university is extremely supportive
                     Hospital is just 5.2 kilometres from “The Waters” and the                                             of the development of the course precinct. The University
                     John Hunter Hospital is just 6.4 kilometres, in addition to a                                         foresees positive additional patronage of the University
                     number of day and private hospitals within a five-kilometre                                           facilities by residents as well as additional facilities for
                     radius of the project. “The Waters”’ location near excellent,                                         the University attendees to utilise. At the time of writing,
                     recently upgraded local hospitals will be very desirable to                                           Chamber Developments is awaiting a meeting with the
                     potential residents.                                                                                  University to discuss the proposed plan.



Google Maps

                                                                                                                                                                        Print

                                                                             Notes
                                                         “The Waters” can enter notes here.
                                                                    You




                                                                                                                                Location of Local Hospitals in relation to
                                                                                                                                “The Waters” Retirement Living Project

                                                                         D                                                             Key
                                                                   B
                                                                        F                                                              A   Newcastle Private Hospital
                                         A                                                                                             B   William Lane Day Hospital
                                                                                                                                       C   John Hunter Public Hospital
                                                                                                                                       D   Calvary Mater Hospital
                                     C
                                                                                                                                       E   Lindgard Private Hospital
                                                                                                                                       F   Christo Road Private Hospital
                                                                                                E




              2 km
              1 mi                           ©2010 Google - Map data ©2010 MapData Sciences Pty Ltd, PSMA - Terms of Use




                     10 March 2010                                                                                                                   CHAMBER DEVELOPMENTS              9
Recreational
Activities
Shortland Waters Golf Club
Shortland Waters Golf Club is a privately owned club with
an 18-hole, par 71, 5,931-metre golf course. Established
in 1935, the course has a strong local history and was the
social mecca for nearby steelworkers.
In association with the development of the “The Waters”
Retirement Living Project, the Golf Clubhouse will be
completely rebuilt. In addition, the course itself will be
upgraded. The brand new facilities will draw golfing
enthusiasts to the area, and golfing retirees to the “The
Waters”.
The Clubhouse will provide residents of “The Waters”
with excellent services, including a bistro, bar and gaming
facilities. In addition there will be conference rooms which
residents can hire for events and functions. A motel
will be constructed with the new clubhouse, providing
families and friends and the residents with superb short-
term accommodation close to the “The Waters”.




                                                               The Forum Sport and
                                                               Aquatic Centre
                                                               “The Waters” is located just 200 metres from “The
                                                               Forum” Sport and Aquatic Centre. The centre is on the
                                                               grounds of the University of Newcastle and services the
                                                               fitness needs of students and residents of surrounding
                                                               suburbs.
                                                               The Centre has:
                                                                  • An Olympic standard eight-lane, 50-metre
                                                                    swimming pool which is heated in the winter
                                                                  • Aerobics studios
                                                                  • 90 group fitness classes a week in the pool
                                                                    and studios
                                                                  • Regular health and wellness seminars
                                                                  • Private training studios
                                                                  • Tennis centre
                                                                  • Squash complex
                                                                  • Five sport ovals.
                                                               Residents of “The Waters” will enjoy access to this
                                                               facility, with improved health and wellbeing through
                                                               fitness and physical activities.



10 March 2010                                                                           CHAMBER DEVELOPMENTS             10
Volunteering
Chamber Developments recognises that giving something
back to the community will be important to many of the
residents of “The Waters”. Located in the immediate area
is the extremely popular Hunter Wetlands Centre, where
many local residents volunteer.
“The Hunter Wetlands Centre Australia is a vibrant
wetland ecosystem bursting with life. The site is regarded
as a wetland of national and international importance
and the centre enjoys a growing reputation for excellence
in wetland conservation, education and ecotourism.”
(Source: The Hunter Wetlands Centre website.) The
centre actively encourages volunteering and has an
extremely professional and robust volunteering network
for people wishing to contribute both indoors and
outdoors.




                                                             The Hunter Valley
                                                             “The Waters” is located 45 kilometres from the famous
                                                             Hunter Valley region – one of Australia’s oldest and
                                                             one of its most well-known wine regions. The Hunter
                                                             is a popular tourist and holiday location which features
                                                             over 60 restaurants, 120 wineries, 160 accommodation
                                                             venues and a vast range of activities, including visiting
                                                             cellar doors, antique stores or visiting historic towns and
                                                             indigenous sites.
                                                             In addition to being famous for food and wine, the Hunter
                                                             Valley has also made a name for producing some of the
                                                             most spectacular events. There are festivals celebrating
                                                             the local produce, such as Lovedale Long Lunch and
                                                             Semillon and Seafood and concerts featuring the world’s
                                                             top musicians, including Jazz in the Vines and Opera in
                                                             the Vineyards.




10 March 2010                                                                         CHAMBER DEVELOPMENTS             11
Demographics
Current demographics
The total population of Newcastle and Hunter Region is,            years of 55–64, with 2.6%, as shown in the table below.
according to figures released by Global PDC Demographics           (These figures are current to the last census in 2006.)
and the Australian Bureau of Statistics, growing                   These figures indicate there will be a strong on-going
significantly year on year, with an average growth rate of         market for retirement living as the pre-retirement segment
0.6%. The most significant increase is in the pre-retirement       of the population moves into the retirement bracket.
                                                                                          Average Annual
                      Newcastle           1996            2001              2006
                                                                                         Change 1996-2006
                    0–14 years              23,684           24,336            24,320                  0.3%
                    15–24 years             21,614           20,545            21,757                  0.1%
                    25–39 years             30,435           29,960            29,725                 -0.2%
                    40–54 years             24,059           27,083            28,922                  1.9%
                    55–64 years             11,339           12,342            14,623                  2.6%
                    65+ years               22,458           22,355            22,405                  0.0%
                    Total                  133,589         136,621            141,752                  0.6%
              Demographics in the Region of Newcastle. Source: Australian Bureau of Statistics 1996 and 2006
The demographics of the Hunter region as a whole is                can be seen in the table below, there are significant
recognised to be aging. The ratio of the number of people          percentage differences between the Hunter Region and
aged 65 years and over to the number of working age                NSW, suggesting that there will be a greater demand for
people aged 15–64 years is higher in the Hunter Region             retirement living in the Hunter than elsewhere in the state.
than anywhere else in NSW with 25 per cent compared with
21 per cent respectively. It has been recognised that the          It is also worth noting that, according to the Hunter
“major challenges of the future … are the need to provide the      Valley Research Foundation, there was an increase in the
infrastructure and services required for the aging population”     male population in the older years over the last decade,
(“Newcastle and the Hunter Region 2008–2009”, Hunter Valley        suggesting a substantial improvement in men’s health and
Research Foundation, pg. 9, attached as Appendix B).               there is the expectancy that men’s health in the region will
The Hunter Region has a higher percentage of over 55s              continue to improve, placing an even higher demand on
compared with NSW as a whole – 27.4% to 24.4%. As                  retirement housing.

                                       Hunter                                                       NSW
                    Males        Females      Persons                         Males       Females       Persons
                  Proportion                                 Total          Proportion                                  Total
                   of Total                                 Change           of Total                                 Change
                  Population                                ‘96–‘06         Population                                ‘96—‘06
 55—59 years        6.5%          6.4%           6.4%        51.9%             6.2%         6.1%          6.1%         45.8%
 60–64 years        5.5%          5.4%           5.4%        38.0%             4.9%         4.8%          4.8%         32.7%
 65–69 years        4.4%          4.4%           4.4%            5.3%          3.9%         3.9%          3.9%          6.8%
 70–74 years        3.1%          3.7%           3.4%        31.0%             2.6%         3.1%          2.9%         26.3%
 75–79 years        3.1%          3.7%           3.4%        31.0%             2.6%         3.1%          2.9%         26.3%
 80–84 years        2.1%          2.9%           2.5%        52.5%             1.8%         2.5%          2.1%         43.5%
 85+ years          1.2%          2.6%           1.9%        71.6%             1.1%         2.3%          1.7%         61.6%
 Total % of
                   22.8%          29.1%          27.4%                        23.1%         25.8%         24.4%
 population

Source: Australian Bureau of Statistics, Census for Population and Housing, 1996 and 2006

Projected population growth
The population of the Hunter Region is predicted to grow           by 2026. This will create a pressure on housing availability
in the coming decades, with the older population (ages 60          in the retirement sector in particular and on organisations
years and over) expected to increase from 21.4% of the             providing aged care.
total population in 2006 to 27.9% of the total population



10 March 2010                                                                                 CHAMBER DEVELOPMENTS                12
Retirement Living
in Newcastle
Chamber Developments completed a survey of retirement               Greenleaf Ashton Gardens,
villages in Newcastle and to confirm it’s findings
commissioned Robden Property Services to conduct a survey           East Maitland
and report on its findings (See Appendix C – Robden Property
                                                                    This village is approximately 20 kilometres from Shortland
Services and Capability Statement). The report indicates there
                                                                    and was opened in 2003. Ashton Gardens consists of
is currently a range of retirement villages within a 25-kilometre
                                                                    57 two- and three-bedroom units. The prices of the units
radius of the proposed “The Waters” Retirement Living Project.
                                                                    are comparable to Belmont North. The village is located
The vast majority are villages that are 10 to 15 years old.
                                                                    adjacent to the New England Highway and is close to a large
There appears to be seven main retirement villages within           shopping centre. The site does not have any advantageous
the specified radius of “The Waters”. These villages are            outlooks but does have a private hospital nearby.
both privately run and not-for-profits and offer varying
standards of living for residents.
                                                                    Greenleaf Terrace Gardens,
Greenleaf Belmont North                                             Raymond Terrace
This village is within 10 kilometres of “The Waters” and            Terrace Gardens is approximately 20 kilometres from
is currently selling units in Stage 2 of the project. There         Shortland and was opened in 2005. It is smaller than the
are currently 44 completed units in Stages 1 and 2 with             other Greenleaf facilities with only 20 units on site and no
a planned total of 97 units when all stages have been               more construction is planned.
completed. This village is approximately five years old and
has seen reasonably strong sales with two-bedroom units
selling for an average of $415,000 and three-bedroom units          Bayside, Bonnells Bay
selling for an average of $435,000.
                                                                    Bayside opened in 1997 and is located approximately
The units are average 90–100 square metres for a two-               15 kilometres from “The Waters”. The village is operated
bedroom unit with a single lock-up garage. In addition, some        by Lend Lease Prime Life, who have a large portfolio of
units also have a parking bay or carport.                           villages scattered up the eastern sea board.
The site could be considered to have distant ocean views            It has 237 two- and three-bedroom units, with the two-
from some spots, although the terrain is reasonably hilly and       bedroom units currently selling for $300,000. Bayside is
while construction is ongoing, the landscaping is minimal. It       located close to Lake Macquarie with many onsite facilities
is located close to a moderate sized shopping centre.               including 24-hour call assistance, landscaped gardens
                                                                    and a village bus. It is located five kilometres from a major
                                                                    shopping area.



                                          B               C
                                                                    “The Waters”

                                                                                     Key
                                                                                     A   Greenleaf Belmont North
                                                                                     B   Greenleaf Ashton Gardens,
                                                     E
                                                                                         East Maitland
                                                                                     C   Greenleaf Terrace Gardens,
                                                                                         Raymond Terrace
                                  F
                                      G                                              D   Bayside, Bonnells Bay
                                                                                     E   Maroba, Waratah
                                              A
                                                                                     F   Bolton Point RSL Care
                                                                                     G C A Brown Booragul
                          D




10 March 2010                                                                                  CHAMBER DEVELOPMENTS                13
Maroba, Waratah
Maroba is operated by a not-for-profit organisation and is
the only retirement living development within a 25-kilometre
radius that has both low care and high care facilities co-
existing with independent living units on the same site.
Waratah is an inner suburb of Newcastle and the village has
views across Newcastle to the coast.
The independent living village first opened 10 years ago and
a second stage was completed in the last five years. Maroba
consists mostly of two-bedroom units with a few one- and
three-bedroom units. There are a total of 40 units in the
facility with two-bedroom units selling for $325,000. There
is a planned addition to the village of a five-storey serviced
apartment block with extensive city and coastal views. These
apartments will be two- and three-bedrooms and up to 110
square metres. The operator is hoping to achieve a yield in the
vicinity of another 40 units, subject to Council approvals.


Bolton Point RSL Care
Among the other villages in the area, the largest is Bolton
Point RSL Care with around 60 units on site. These
units have extensive views of Lake Macquarie and are
approximately 15 kilometres from Shortland. The village
underwent refurbishment approximately six years ago.
Sales of two-bedroom units is believed to be in the mid-
$300,000s, however the operator was not in a position
to reveal current prices due to the licence agreement
arrangement which sees prices matched to clients’ wealth.


C A Brown Booragul
This is also a not-for-profit complex run by the Anglican
Church and has a high- and low-care facility attached.
Many of the units are more than 20 years old, however a
number were refurbished approximately eight years ago.
The village does not have any significant views and is
located close to the main northern rail line and is subject
to constant train noise. Prices in this village range from the
mid-$100,000s for an older one-bedroom unit to $300,000
for newer two- and three-bedroom units.
Market observations indicate that prospective buyers
are requiring two-bedroom units as a minimum, with
three-bedroom units becoming increasingly popular as
this allows family and, more frequently, grandchildren
to visit and stay with ease and comfort. The not-for-
profit sector is struggling to find a ready market with
ageing units. Yet some prospective residents regard the
Church organisations as providing continuity of care from
independent living units through to higher care as they age.
The result is a split in the Newcastle market – Church
organisations which are operating retirement living as
complete campuses (including low and high care) and
private organisations which supply the market as “Over
55” villages. The majority of these “over 55s” villages offer
a lifestyle to retirees, rather than aged care. Prospective
residents can be enticed from their suburban homes to
units providing the complex offers an open and active
lifestyle, with facilities that appeals to an active and
interested group of retirees.
A sample of brochures for these villages can be found in
Appendix D.



10 March 2010                                                     CHAMBER DEVELOPMENTS   14
Real Estate Sale History –
Newcastle
Median house and unit prices in Newcastle have enjoyed         to $410,000 in 2009. In addition, as can be seen from
steady gains in the last ten years, with the median house      the graph below (with the exception of a traditional pre-
price rising from $357,000 in 2001 to $600,000 in 2009.        Christmas dip), demand for the property in Newcastle is
Units have also seen gains, rising from $309,000 in 2001       meeting or outstripping supply.



     Median sale prices in Newcastle

                        Median House Price
                        Median Unit Price

          $500K




          $400K




          $300K




            $0K
              2001         2002        2003        2004            2005     2006         2007       2008       2010




      Supply and Demand for properties in Newcastle

                         Advertised properties (Supply)                            People looking (Demand)
                                                                                                              1,500

                150



                                                                                                              1,000
                100




                                                                                                              500
                50




                 0                                                                                            0
                       Sep 09          Oct 09             Nov 09          Dec 09           Jan 10



10 March 2010                                                                               CHAMBER DEVELOPMENTS           15
Median House and Unit Sales
                 Median House          House Price %                         Unit Price %
    Year                                                 Median Unit Price
                    Price              Change (YoY)                          Change (YoY)
       2001             $357,000                35.4%            $309,000              -13.0%

       2002             $370,000                 3.6%            $369,000              19.4%

       2003             $365,900                -1.1%            $449,000              21.7%

       2004             $535,000                46.2%            $510,000              13.6%

       2005             $346,750               -35.2%            $450,000              -11.8%

       2006             $545,000                57.2%            $552,521              22.8%

       2007             $555,000                 1.8%            $445,000              19.5%

       2008             $640,000                15.3%            $416,000               -6.5%

       2009             $600,000                -6.3%            $410,000               -1.4%

Source: MyRPData.com


Recent Sales in Newcastle
        Address                 Type             Price          Sale Type        Beds           Sale Date

 12 Perkins Street              House             $495,000     Normal Sale         -            23/12/09

 307/4 Honeysuckle Dr           Unit              $440,000     Normal Sale         2            09/12/09

 38 Wolfe St                    House             $650,000     Normal Sale         -            15/12/09

 307/4 Honeysuckle Dr           Unit              $440,000     Normal Sale         2            09/12/09

 36 Wolfe St                    House             $650,000     Normal Sale         3            30/11/09

 38 Wolfe St                    House             $650,000     Normal Sale         -            15/12/09

 37 Perkins St                  House             $440,000     Normal Sale         2            29/10/09

 35 Perkins St                  House             $400,000     Normal Sale         2            07/10/09

Source: MyRPData.com



10 March 2010                                                                          CHAMBER DEVELOPMENTS   16
Construction                                               Resources
Schedule                                                   In the preparation of its projects, Chamber Developments
                                                           has an association with, and draws on the resources of:

                                                              • BHI – Architects
It is envisaged that “The Waters” project would be
                                                              • Coffey Projects – Project Managers
constructed in stages. As Chamber Developments will
be required to rebuild the clubhouse and those golf           • Dean Dransfield – Hotel and Resort Consultants
holes that will be consumed by the project, it will be        • HWL Ebsworth – Solicitors
necessary to integrate construction schedules to allow        • JBA – Urban Planning
the uninterrupted operation of the golf club and course.
                                                              • Miller & Miller Strategic Communications Consultants
                                                              • Mitchell Brandtman – Quantity Surveyors
                                                              • Richard Chamberlain – Golf Course Architect
                                                              • Robden Property Services – Retirement Living
                                                                Consultant
                                                              • Whelans Insites – Surveyors and Development
                                                                Consultants
                                                              • Worley Parsons – Urban and Town Planning

                                                           Reports
                                                           The following reports were completed as part of two
                                                           Development Applications which were approved for
                                                           Tourism at Shortland Waters Golf Club. These reports are
                                                           to be updated as a requirement for the new Development
                                                           Applications for the redevelopment of the club house,
                                                           golfing facilities and The Waters Retirement Village. These
                                                           reports may be used to gain knowledge of the site and
                                                           will be made available on request.
                                                              • Bushfire Threat Assessment by Harper Sommer
                                                                O’Sullivan, dated July 2005
                                                              • Contamination Testing Report by Douglas Partners,
                                                                dated July 2005
                                                              • Drainage Plan & Report by Geoff Craig & Associates
                                                              • Ecological Assessment by Warren Brown, dated 11
                                                                July 2005
                                                              • Geotechnical Investigation by Douglas Partners,
                                                                dated July 2005
                                                              • Landscape Design Report by Verge Landscape
                                                                Architects
                                                              • Noise Impact Assessment by Hunter Land Holdings
                                                                Pty Ltd, dated July 2005
                                                              • Traffic Assessment Report by LB Dowling &
                                                                Associates Pty Ltd, dated 14 July 2005


                                                           Qualifier
                                                           This Development Proposal has been prepared solely
                                                           for information purposes and to assist the purchaser in
                                                           evaluating the offer proposed recognising that it may not
                                                           contain all the required information. Neither Chamber
                                                           Developments or its advisers have independently
                                                           verified all of the information or data contained in this
                                                           Development Proposal. Certain information contained in
                                                           this Development Proposal has been supplied by Shortland
                                                           Waters Golf Club and consultants engaged by it. These
                                                           consultants are not presently engaged by Chamber
                                                           Developments. It is anticipated that the purchaser will make
                                                           its own investigations and analysis of the offer and the
                                                           contents of this Development Proposal.



10 March 2010                                                                       CHAMBER DEVELOPMENTS             17
Appendix A –

Worley Parsons Report




10 March 2010           CHAMBER DEVELOPMENTS   18

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                                                                                              
                                                                                              
               Incorporating                                                                  
               Planning Workshop Australia                                                    
                                                                                              
                                                                                               
                                                                                              
                                                                                              



                                                      Proposed Shortland Waters Development
                                        Meeting with Newcastle City Council Officers 2 March 2010

               In attendance:
               [DJ]- Damian Jaegar, Senior Development Officer/ Town Planner, Newcastle City Council (NCC)
               [DR]- David Reiner, Senior Development Officer (Acting Development Building Coordinator), NCC
               [BB]- Brian Brown, Director, Chamber Developments
               [MS]- Mark Stone, Director, Chamber Developments
               [KT]- Kevin Taylor, Director, Chamber Developments
               [GF]- Garry Fielding, NSW Manager Planning & Approvals, WorleyParsons


                          GF provided an outline of the development proposal for the Shortland Waters site,
                           referring to the Preliminary Masterplan prepared by bhi Architecture. He indicated the
                           intention to develop a new clubhouse, function centre and restaurant in the portion of the
                           site the subject of Council’s consent for tourist accommodation near the western boundary
                           of the site, immediately to the south-west of the Chichester pipeline; the development of
                           approximately 250 seniors’ housing Self-Contained Dwellings adjacent to the southern
                           and south-western boundary of the site; a nursing home within the south-eastern corner of
                           the site; and a medical centre and convenience shops, either adjacent to the proposed
                           nursing home or in the south-western corner of the site. It was also indicated that the two
                           fairways displaced by the proposed development adjacent to the south-eastern boundary
                           of the site, would be relocated to the Council owned land (former garbage tip) immediately
                           to the north-east of the site.

                          GF indicated that the proposed development was permissible under the          Newcastle Local
                           Environmental Plan 2003 (NLEP 2003) and the State Environmental               Planning Policy
                           (Housing for Seniors or People with a Disability) 2004 (Housing for           Seniors SEPP),
                           referring particularly to the provisions of the SEPP concerning seniors’      housing on land
                           used for the purposes of an existing registered club.

                          GF outlined the locational advantages the site offered for seniors’ housing development,
                           noting its close proximity to the facilities at the University of Newcastle, including the
                           Forum indoor sports centre and pool and the University library. He also referred to the
                           potential for the site to utilise the nearby Warabrook train station.

                          DJ responded by confirming the permissibility of the proposed development under NLEP
                           2003 and the SEPP. He indicated the need to address bushfire protection measures,
                           noise impacts associated with the railway line and overall traffic management. He
                           particularly noted the need to avoid road links to the University road system that would
                           encourage ‘rat runs’ from the University to the bridge access across Jesmond Bypass
                           Road.




10 March 2010
            Shortland Waters meeting notes 2 Mar 2010.doc                                CHAMBER DEVELOPMENTS              19
Incorporating
           Planning Workshop Australia



                    BB and KT advised that the development could be undertaken in stages, with the first
                     stage comprising the new clubhouse/ function centre and the relocation of the two
                     fairways onto the land currently owned by NCC. They also indicated they had received
                     support for the proposal through discussions with University officials.

                    GF advised that the next step in the planning process was to lodge an application for a
                     Site Compatibility Certificate with the Department of Planning (DoP). Assuming this would
                     be granted by DoP, a further meeting with Council officers would then be arranged to
                     discuss in detail the development proposed for the site.

           Notes prepared by GF.




           Shortland Waters meeting notes 2 Mar 2010.doc      2                                         4 March 2010
10 March 2010                                                                     CHAMBER DEVELOPMENTS           20
Appendix B –

“Newcastle and the Hunter Region 2008–2009”, Hunter Valley
Research Foundation Report




10 March 2010                               CHAMBER DEVELOPMENTS   21
Population and demography

  Age                               The growth of the regional population is considered according to major sub-
                                    regions in the Hunter (the Lower Hunter, Upper Hunter and Other Hunter),
  distribution                      followed by a summary for the Region as a whole.
  and growth                        The population of the Lower Hunter totalled 493,462 persons in 2006. The
  1996 – 2006                       most populous local government areas (LGAs) were Lake Macquarie
                                    (183,139) and Newcastle (141,752). Over the 10 years between 1996
                                    and 2006:
  Lower Hunter
                                    • The population of the sub-Region grew at an average annual rate of 0.9
                                      per cent, slightly higher than the rate for the whole of the Hunter Region
                                      (0.8 per cent) and equivalent to the average rate of growth for the State.

                                    • The fastest growing LGAs were Maitland and Port Stephens, increasing
                                      at an average annual rate of 2.1 per cent and 1.7 per cent respectively.

                                    • The slowest growing LGAs were Cessnock, where the population
                                      increased at an average rate of 0.3 per cent per annum, followed by
                                      Newcastle and Lake Macquarie, each with an average rate of growth of
                                      0.6 per cent per annum.

                                    The chart below compares growth rates in each of the Lower Hunter LGAs,
                                    the sub-Region in total, the Hunter and State.           Details of the age
                                    distribution in the Lower Hunter are provided in the table over.


   Average annual rate of population change, Lower Hunter, 1996 - 2006
   2.5%

                2.1%
   2.0%
                                1.7%

   1.5%


   1.0%                                                                           0.9%           0.8%     0.9%

                                                 0.6%     0.6%
   0.5%                                                              0.3%


   0.0%
              Maitland          Port        Newcastle     Lake      Cessnock     Lower          Hunter    NSW
                             Stephens                   Macquarie              Hunter total

   Source: Australian Bureau of Statistics, Census of Population and Housing , 1996 and 2006, Cat. No. 2068.0




   Newcastle and the Hunter Region 2008 – 2009                                                                       1
10 March 2010                                                                                 CHAMBER DEVELOPMENTS       22
Age distribution and change, Lower Hunter, 1996 - 2006
                                                    Average                                                     Average
                                                     annual                                                      annual
                                                     change                                                      change
                        1996       2001      2006    '96–'06            1996          2001            2006       '96–'06
       Cessnock                                                   Lake Macquarie
       0-14 years      10,553    10,218    10,043      -0.5%          38,099        37,809          35,872         -0.6%
       15-24 years      6,167     5,880     5,875      -0.5%          22,955        22,684          23,158          0.1%
       25-39 years      9,744     8,999     8,707      -1.1%          35,613        34,004          31,326         -1.3%
       40-54 years      8,951     9,820     9,725       0.8%          35,846        38,992          39,066          0.9%
       55-64 years      3,557     4,354     5,575       4.6%          15,989        19,147          22,969          3.7%
       65+ years        5,763     6,106     6,281       0.9%          24,223        27,679          30,748          2.4%
       Total           44,735    45,377    46,206       0.3%         172,725      180,315         183,139           0.6%
       Maitland                                                   Newcastle
       0-14 years      12,520    12,983    14,208       1.3%          23,684        24,336          24,320          0.3%
       15-24 years      7,362     7,626     8,430       1.4%          21,614        20,545          21,757          0.1%
       25-39 years     11,351    11,290    12,553       1.0%          30,435        29,960          29,725         -0.2%
       40-54 years     10,111    11,664    12,960       2.5%          24,059        27,083          28,922          1.9%
       55-64 years      3,628     4,717     6,495       6.0%          11,339        12,342          14,623          2.6%
       65+ years        5,352     6,110     7,235       3.1%          22,458        22,355          22,405          0.0%
       Total           50,324    54,390    61,881       2.1%         133,589      136,621         141,752           0.6%
       Port Stephens                                              Lower Hunter total
       0-14 years      12,258    12,791    12,585       0.3%          97,114        98,137          97,028          0.0%
       15-24 years      6,220     6,501     7,101       1.3%          64,318        63,236          66,321          0.3%
       25-39 years     11,157    11,026    10,056      -1.0%          98,300        95,279          92,367         -0.6%
       40-54 years      9,679    11,654    12,577       2.7%          88,646        99,213        103,250           1.5%
       55-64 years      4,868     6,361     7,933       5.0%          39,381        46,921          57,595          3.9%
       65+ years        6,964     8,438    10,232       3.9%          64,760        70,688          76,901          1.7%
       Total           51,146    56,771    60,484       1.7%         452,519       473,474        493,462           0.9%
   Source: Australian Bureau of Statistics, Census of Population and Housing, 1996 and 2006, Cat. No. 2068.0

                                The age distribution shown in the table above illustrates the ageing of the
                                Lower Hunter population. Between 1996 and 2006:

                                • In the sub-Region overall, the population aged 40 and over increased (at
                                  an average rate of 2.1 per cent per annum), while the population aged
                                  below 40 declined (by 0.2 per cent per annum on average).

                                • Maitland was the only LGA in which the population aged below 40
                                  increased (at an average annual rate of 1.2 per cent). Despite this
                                  growth, the increase in the older population (3.4 per cent per annum on
                                  average) substantially out-stripped that of the younger cohort.

                                • The size of the younger population (below 40) remained relatively stable
                                  in Port Stephens and Newcastle, while it declined in both Cessnock and
                                  Lake Macquarie at an average rate of 0.7 per cent per annum.


   2                                                                             Newcastle and the Hunter Region 2008 – 2009




10 March 2010                                                                           CHAMBER DEVELOPMENTS                   23
• Among the under 40s, the age group with the greatest rate of decline (or
                                     slowest rate of increase) was the 25 to 39 year olds, the age range in
                                     which most women have children.

                                   The chart below compares rates of growth of the under 40 and 40 and over
                                   age cohorts in each of the Lower Hunter LGAs.

    Average annual rate of change of the 'younger' and 'older' population cohorts, Lower Hunter, 1996 - 2006
    4.0%                                        3.6%
                        3.4%                                          Under 40        40+
    3.5%

    3.0%

    2.5%
                                                                               2.0%                                2.1%
    2.0%                                                                                            1.7%
    1.5%        1.2%                                           1.3%

    1.0%

    0.5%
                                    0.04%              0.01%
    0.0%

   -0.5%                                                                                                   -0.2%

   -1.0%                                                               -0.7%                -0.7%
                  Maitland         Port Stephens        Newcastle     Lake Macquarie         Cessnock      Lower Hunter
                                                                                                              total
   Source: Australian Bureau of Statistics, Census of Population and Housing , 1996 and 2006, Cat. No. 2068.0




     Upper Hunter                  The population of the Upper Hunter totalled 50,152 persons in 2006, with
                                   Singleton the most populous of the three LGA (21,940). Over the 10 years
                                   between 1996 and 2006:

                                   • The population of the sub-Region grew at an average annual rate of 0.2
                                     per cent, substantially lower than the rate for the whole of the Hunter
                                     Region (0.8 per cent) and the State (0.9 per cent).

                                   • The fastest growing LGA was Singleton, the population of which
                                     increased at an average annual rate of 1.1 per cent.

                                   • The population declined in both Muswellbrook and the Upper Hunter
                                     Shire, at an average annual rate of 0.1 per cent and 0.8 per cent
                                     respectively.

                                   The chart over compares growth rates in each of the Upper Hunter LGAs,
                                   the sub-Region in total, the Hunter and State.           Details of the age
                                   distribution in the Upper Hunter are provided in the table following.




  Newcastle and the Hunter Region 2008 – 2009                                                                             3




10 March 2010                                                                                       CHAMBER DEVELOPMENTS      24
Average annual rate of population change, Upper Hunter, 1996 - 2006
       1.5%

                      1.1%
       1.0%                                                                                  0.8%                 0.9%



       0.5%
                                                                           0.2%

       0.0%
                                         -0.1%

       -0.5%


                                                       -0.8%
       -1.0%
                    Singleton       Muswellbrook    Upper Hunter      Upper Hunter          Hunter                NSW
                                                       Shire             total

       Source: Australian Bureau of Statistics, Census of Population and Housing , 1996 and 2006, Cat. No. 2068.0




   Age distribution and change, Upper Hunter, 1996 - 2006
                                                               Average                                               Average
                                                                annual                                                annual
                                                                change                                                change
                                 1996        2001     2006      '96–'06            1996        2001         2006      '96–'06
       Muswellbrook                                                          Singleton
       0-14 years                4,038      3,664     3,695        -0.9%           5,311      5,119         5,366         0.1%
       15-24 years               2,208      1,926     2,059        -0.7%           2,690      2,788         2,911         0.8%
       25-39 years               3,716      3,339     3,171        -1.6%           4,793      4,504         4,575        -0.5%
       40-54 years               3,030      3,105     3,209        0.6%            4,027      4,598         4,826         1.8%
       55-64 years               1,108      1,273     1,560        3.5%            1,327      1,625         2,187         5.1%
       65+ years                 1,264      1,396     1,542        2.0%            1,609      1,875         2,075         2.6%
       Total                    15,364     14,703   15,236         -0.1%          19,757    20,509        21,940          1.1%
       Upper Hunter Shire                                                    Upper Hunter total
       0-14 years                3,339      2,625     2,635        -2.3%          12,688    11,408        11,696         -0.8%
       15-24 years               1,658      1,468     1,639        -0.1%           6,556      6,182         6,609         0.1%
       25-39 years               3,005      2,266     2,279        -2.7%          11,514    10,109        10,025         -1.4%
       40-54 years               2,940      2,635     2,815        -0.4%           9,997    10,338        10,850          0.8%
       55-64 years               1,312      1,261     1,598        2.0%            3,747      4,159         5,345         3.6%
       65+ years                 1,817      1,589     2,010        1.0%            4,690      4,860         5,627         1.8%
       Total                    14,071     11,844   12,976         -0.8%          49,192    47,056        50,152          0.2%
   Source: Australian Bureau of Statistics, Census of Population and Housing, 1996 and 2006, Cat. No. 2068.0




   4                                                                                   Newcastle and the Hunter Region 2008 – 2009




10 March 2010                                                                                 CHAMBER DEVELOPMENTS                   25
The age distribution shown in the table above illustrates the ageing of the
                                    Upper Hunter population. Between 1996 and 2006:

                                    • In the sub-Region overall, the population aged 40 and over increased (at
                                      an average rate of 1.7 per cent per annum), while the population aged
                                      below 40 declined (by 0.8 per cent per annum on average).

                                    • The size of the younger population (below 40) remained relatively stable
                                      in Singleton, while it declined in both Muswellbrook and the Upper
                                      Hunter Shire at an average annual rate of 1.1 per cent and 2.0 per cent
                                      respectively.

                                    • Among the under 40s, the age group with the greatest rate of decline
                                      was the 25 to 39 year olds, the age range in which most women have
                                      children.

                                    The chart below compares rates of growth of the under 40 and 40 and over
                                    age cohorts in each of the Upper Hunter LGAs.

   Average annual rate of change of the 'younger' and 'older' population cohorts, Upper Hunter, 1996 - 2006
    3.0%                      2.7%
                                                                 Under 40    40+

    2.0%                                                                                              1.7%
                                                          1.6%


    1.0%
                                                                             0.6%
                 0.05%
    0.0%


   -1.0%                                                                                   -0.8%
                                                 -1.1%

   -2.0%
                                                                   -2.0%

   -3.0%
                     Singleton                    Muswellbrook    Upper Hunter Shire      Upper Hunter total

   Source: Australian Bureau of Statistics, Census of Population and Housing , 1996 and 2006, Cat. No. 2068.0




  Other Hunter                      The population of the Other Hunter area totalled 45,626 persons in 2006,
                                    with Great Lakes the most populous LGA (32,764). Over the 10 years
                                    between 1996 and 2006:

                                    • The population of the sub-Region area grew at an average annual rate of
                                      1.2 per cent, higher than the rate for the whole of the Hunter Region
                                      (0.8 per cent) and the State (0.9 per cent).

                                    • Great Lakes was the fastest growing LGA, increasing at an average
                                      annual rate of 1.6 per cent. The population in Dungog rose at a
                                      substantially lower rate of 0.4 per cent per annum on average.


   Newcastle and the Hunter Region 2008 – 2009                                                                  5




10 March 2010                                                                          CHAMBER DEVELOPMENTS         26
• In Gloucester the population declined at an average annual rate of 0.2
                                     per cent.

                                   The chart below compares growth rates in each of the Other Hunter LGAs,
                                   the sub-Region in total, the Hunter and State.        Details of the age
                                   distribution in the Other Hunter follow in the table.

   Average annual rate of population change, Other Hunter, 1996 - 2006
           2.0%

                        1.6%
           1.5%
                                                                             1.2%

           1.0%                                                                                   0.8%                0.9%


                                         0.4%
           0.5%


           0.0%

                                                          -0.2%
          -0.5%
                     Great Lakes        Dungog       Gloucester           Other Hunter          Hunter                NSW
                                                                              total

         Source: Australian Bureau of Statistics, Census of Population and Housing , 1996 and 2006, Cat. No. 2068.0

   Age distribution and change, Other Hunter, 1996 - 2006
                                                             Average                                                     Average
                                                              annual                                                      annual
                                                              change                                                      change
                               1996      2001     2006        '96–'06            1996           2001         2006         '96–'06
       Dungog                                                                 Gloucester
       0-14 years              1,834    1,813     1,701           -0.8%         1,113            987           874           -2.4%
       15-24 years              854       864      873            0.2%              508          438           422           -1.8%
       25-39 years             1,643    1,455     1,266           -2.6%             901          753           625           -3.6%
       40-54 years             1,554    1,843     1,884           1.9%              958        1,016        1,029            0.7%
       55-64 years              803       952     1,081           3.0%              577          621           786           3.1%
       65+ years               1,032    1,110     1,257           2.0%              829          936        1,064            2.5%
       Total                   7,720    8,037     8,062           0.4%          4,886          4,751        4,800            -0.2%
       Great Lakes                                                            Other Hunter total
       0-14 years              5,518    5,513     5,263           -0.5%         8,465          8,313        7,838            -0.8%
       15-24 years             2,381    2,653     2,869           1.9%          3,743          3,955        4,164            1.1%
       25-39 years             4,652    4,372     4,004           -1.5%         7,196          6,580        5,895            -2.0%
       40-54 years             5,091    6,115     6,393           2.3%          7,603          8,974        9,306            2.0%
       55-64 years             3,673    4,726     5,139           3.4%          5,053          6,299        7,006            3.3%
       65+ years               6,771    7,822     9,096           3.0%          8,632          9,868       11,417            2.8%
       Total               28,086      31,201    32,764           1.6%         40,692         43,989       45,626            1.2%
   Source: Australian Bureau of Statistics, Census of Population and Housing, 1996 and 2006, Cat. No. 2068.0

   6                                                                                      Newcastle and the Hunter Region 2008 – 2009




10 March 2010                                                                                    CHAMBER DEVELOPMENTS                   27
The age distribution shown in the table above illustrates the ageing of the
                                       Other Hunter population. Between 1996 and 2006:

                                       • In the sub-Region overall, the population aged 40 and over increased (at
                                         an average rate of 2.7 per cent per annum), while the population aged
                                         below 40 declined (by 0.8 per cent per annum on average).

                                       • The size of the younger population (below 40) declined in all LGAs, with
                                         the rate of decline lowest in Great Lakes (0.3 per cent per annum on
                                         average) and highest in Gloucester (2.7 per cent).

                                       • Among the under 40s, the age group with the greatest rate of decline
                                         was the 25 to 39 year olds, the age range in which most women have
                                         children.

                                       The chart below compares the rates of growth of the under 40 and 40 and
                                       over age cohorts in each of the Other Hunter LGAs.

   Average annual rate of change of the 'younger' and 'older' population cohorts, Other Hunter, 1996 - 2006
                             2.9%
    3.0%                                                            Under 40       40+                2.7%
                                                         2.2%
                                                                               2.0%
    2.0%


    1.0%


    0.0%

                -0.3%
   -1.0%
                                                                                           -0.8%
                                               -1.2%
   -2.0%


   -3.0%                                                           -2.7%
                   Great Lakes                      Dungog            Gloucester           Other Hunter total
   Source: Australian Bureau of Statistics, Census of Population and Housing , 1996 and 2006, Cat. No. 2068.0




  The Hunter                           In 2006 the population of the Hunter Region was 589,240 persons,
                                       approximately 9 per cent of the State total of 6.5 million. The charts over
  Region                               present population growth rates for all Hunter Region LGAs over the decade
                                       from 1996 to 2006:

                                       • The fastest growing, at rates above the regional and State averages,
                                         were: Maitland (at an average annual rate of 2.1 per cent), Port
                                         Stephens (1.7 per cent), Great Lakes (1.6 per cent) and Singleton (1.1
                                         per cent). In all other LGAs the population increased at a relatively slow
                                         rate, or it declined. There were declines in Muswellbrook (at an average
                                         annual rate of 0.1 per cent), Gloucester (0.2 per cent) and the Upper
                                         Hunter Shire (0.8 per cent).




      Newcastle and the Hunter Region 2008 – 2009                                                                 7




10 March 2010                                                                            CHAMBER DEVELOPMENTS         28
• Maitland is the only LGA in the Hunter in which the population aged
                                        under 40 increased, though the rate of increase of this group was
                                        substantially lower than for the over 40s (1.2 per cent per annum on
                                        average compared with 3.4 per cent respectively).

                                      • The younger population was relatively stable in Singleton, Port Stephens
                                        and Newcastle, and it declined in all other Hunter LGAs. Rates of
                                        decline in the under 40 age cohort were greatest in Muswellbrook (1.1
                                        per cent per annum on average), Dungog (1.2 per cent), Upper Hunter
                                        Shire (2.0 per cent) and Gloucester (2.7 per cent).

         Average annual rate of population change, Hunter Region, 1996 - 2006
         2.5%
                   2.1%
         2.0%             1.7%
                                  1.6%
         1.5%
                                         1.1%                                                                1.2%
         1.0%                                                                                                        0.9%                 0.8% 0.9%
                                                  0.6% 0.6%
                                                                 0.4% 0.3%
         0.5%                                                                                                                   0.2%

         0.0%
                                                                                   -0.1% -0.2%
         -0.5%

         -1.0%                                                                                      -0.8%




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         Source: Australian Bureau of Statistics, Census of Population and Housing , 1996 and 2006, Cat. No. 2068.0


       Average annual rate of change of the 'younger' and 'older' population cohorts, Hunter Region, 1996 - 2006

       4.0%        3.4%                    3.6%
                                                                                        Under 40            40+
                               2.7%                                 2.9%
       3.0%
                                                                                 2.0%                                     2.2%
                                                                                                                                                       2.0%
       2.0%                                                                                  1.7%           1.6%
              1.2%                                      1.3%
       1.0%                                                                                                                              0.6%

       0.0%
                          0.05%       0.04%       0.01%
   -1.0%                                                       -0.3%
                                                                           -0.7%        -0.7%
                                                                                                     -1.1%         -1.2%
   -2.0%
                                                                                                                                    -2.0%
   -3.0%                                                                                                                                        -2.7%
              nd




                                       s




                                                                            ie




                                                                                                                   og
                                                  tle




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                                                                                             we
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   Source: Australian Bureau of Statistics, Census of Population and Housing , 1996 and 2006, Cat. No. 2068.0

   8                                                                                                   Newcastle and the Hunter Region 2008 – 2009




10 March 2010                                                                                                     CHAMBER DEVELOPMENTS                        29
The following table presents population totals and annual average rates of
                                      growth for specified age groups in the Region and the State between 1996
                                      and 2006:

                                      • Rates of growth were similar in the Region and State although, on
                                        balance, there was a small decline in the regional population aged under
                                        40 (by an average of 0.3 per cent per annum), while there was a very
                                        slight increase in this cohort in the State (by an average of 0.01 per cent
                                        per annum).

                                      • In the both the Region and the State there was a decline in the
                                        population of 25 to 39 year olds, the age range in which most women
                                        have children. The decline in the Hunter was greater than in the State.

                                      • The rate of increase in the older population (aged 40 and above) was
                                        slightly higher in the Hunter (2.1 per cent per annum on average) than in
                                        the State (2.0 per cent).

                                      The old-age dependency ratio is the ratio of the number of people aged 65
                                      and over to the number of working age people between 15 and 64. This
                                      ratio has been increasing over the past decade in both the Region and the
                                      State, meaning that there are proportionally fewer working age people to
                                      support the older, generally retired population. Moreover, the ratio is higher
                                      in the Hunter than in the State: 25 per cent compared with 21 per cent
                                      respectively in 2006. Major challenges for the future, now well recognised,
                                      are the need to provide the infrastructure and services required for the
                                      ageing population, and incentives to keep young people in regional areas.

                                      See also the population projections at the end of this chapter.

   Population age distribution and change, Hunter and NSW, 1996 - 2006
    Hunter                                                              NSW
                                                             Average                                        Average
                                                              annual                                         annual
                                                              change                                         change
                           1996          2001        2006     '96–'06       1996        2001        2006     '96–'06
    0-14 years         118,267       117,858       116,560     -0.1%    1,286,689   1,314,456   1,298,916      0.1%
    15-24 years          74,617       73,373        77,103      0.3%     849,575     845,964     871,716       0.3%
    25-39 years        117,010       111,968       108,281     -0.8%    1,397,074   1,400,152   1,365,729      -0.2%
    40-54 years        106,246       118,525       123,402      1.5%    1,193,472   1,336,523   1,387,494      1.5%
    55-64 years          48,181       57,379        69,948      3.8%     515,152     597,588     719,547       3.4%
    65+ years            78,082        85,416       93,946      1.9%     764,244     831,896     905,777       1.7%
    Total              542,403       564,519       589,240      0.8%    6,006,206   6,326,579   6,549,179      0.9%
   Source: Australian Bureau of Statistics, Census of Population and Housing, 1996 and 2006, Cat. No. 2068.0




     Newcastle and the Hunter Region 2008 – 2009                                                                       9




10 March 2010                                                                              CHAMBER DEVELOPMENTS            30
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Shortland waters-proposal

  • 1. “The Waters” Retirement Living Development Proposal Synergy Business Centre PO Box 5335, Wollongong NSW 2520 Level 1, 1 Burelli Street, Wollongong NSW 2500 P: 02 4254 1054 F: 02 4254 1001 W: www.chamberdevelopments.com.au
  • 2. Contents Location 4 Access 5 • By Car 5 • By Bus 5 • By Train 5 • By Plane 5 Capacity 6 Council Support 8 Local Services and Activities 9 • Hospitals 9 • Shopping Centres 9 • The University of Newcastle 9 • Shortland Waters Golf Club 10 • The Forum Sport and Aquatic Centre 10 • Volunteering 11 • The Hunter Valley 11 Demographics 12 • Current Demographics 12 • Projected Population Growth 12 Retirement Living in Newcastle 13 Real Estate Sales History – Newcastle 15 • Median House and Unit Sales 16 • Recent Sales in Newcastle 16 Construction Schedule 17 Resources 17 Reports 17 Qualifier 17 Appendices 18 • Appendix A 18 • Appendix B 21 • Appendix C 49 • Appendix D 59 10 March 2010 CHAMBER DEVELOPMENTS 2
  • 3. Chamber Developments is proud to propose “The Waters” Retirement Living Project for your consideration. We believe this project has the opportunity to provide a financially viable, sustainable and, most importantly, engaging retirement community for the population of Newcastle and its surrounding suburbs. “The Waters” (our working title) will be the latest in resort-style retirement living for discerning retirees who wish to pursue their interests and hobbies in a modern, sophisticated environment. “The Waters” is perfectly positioned on the grounds of a popular golfing facility. As part of the development of the site, Chamber Developments will be constructing a new Golf Clubhouse which will feature a bistro, gaming rooms, bar and conference facilities as well as upgrading the golf course. In addition, a motel will be built, serving not only golfing tourists and visitors to the conference centre, but also the families and friends of the residents of “The Waters” who will be able to visit in ease and comfort. 10 March 2010 CHAMBER DEVELOPMENTS 3
  • 4. Location “The Waters” in relation to NSW “The Waters” “The Waters” in relation to Newcastle “The Waters” The proposed “The Waters” Retirement Living Project is ensures residents will have access to a broad range of situated on approximately seven hectares of land which activities outside of the environs of the retirement precinct fronts the Shortland Waters Golf Club and adjoins the itself. Chamber Developments believe this unique location University of Newcastle and “The Forum” Health and will ensure the Village will garner much interest from Aquatic Centre. “The Waters”’ prominent location between potential residents interested in pursuing active and fulfilling the University, Golf Club and Health and Aquatic Centre lives in retirement. 10 March 2010 CHAMBER DEVELOPMENTS 4
  • 5. Access By Car The proposed project is 12 kilometres from Newcastle CBD and two hours from Sydney on the F3. The site is adjacent to the F3 Sydney to Newcastle extension, ensuring ease of access for families located in either city. In addition, the thriving communities of Hunter Valley and Port Stephens are also within easy distance of the project. By Bus Residents of “The Waters” Retirement Living Project will enjoy ease of travel thanks to the well-serviced University of Newcastle campus. The university is serviced by regular buses to Newcastle and the surrounding suburbs, including: • Newcastle City • Charlestown • Lake Macquarie • Glendale • Cessnock / Kurri Kurri • Raymond Terrace • Medowie / Stockton • Port Stephens • North Coast. By Train The site is easily accessible by public transport with the University / Warabrook Station only 500 metres away. This station is fully disabled accessible. Trains leave regularly from this station for: • Newcastle City • Maitland • Lake Macquarie • Central Coast / Sydney • Taree / Dungog • Upper Hunter Valley • Brisbane. By Plane For inter-state and international families, Newcastle Williamtown Airport is located approximately 25 kilometres from the proposed site. It is the fastest growing regional airport in Australia with over one million people travelling via the airport in 2009. 10 March 2010 CHAMBER DEVELOPMENTS 5
  • 6. Capacity “The Waters” Retirement Living Project is capable of providing the full range of accommodation options. Potential residents will enjoy the flexibility of choice and can be assured there will be an accommodation type to suit their needs. New Site Plan 10 March 2010 CHAMBER DEVELOPMENTS 6
  • 7. Chamber Development’s concept design is for: Precinct B – Existing Club Site (to be demolished) • Commercial 1500m² • Independent Living Units 90 units - 22% – 3 bed - 56% – 2 bed - 22% – 1 bed • Golf Course Villas 22 units - 10% – 3 bed - 90% – 2 bed Precinct C – Seniors Living • Low/Highcare 130 single room units (30m²/room) 3900m² • Community/Admin Facility 1500m² • Commercial/Lifestyle/Health 500m² • Independent Living Units 180 units - 22% – 3 bed - 56% – 2 bed - 22% – 1 bed • Golf Course Villas 54 units - 10% – 3 bed - 90% – 2 bed Precinct A – New Club Site • Golf club 1500m² • Proshop and Storage 500m² • Recreation and Lifestyle 800m² • Multipurpose Function Centre 1200m² • Motel 60 rooms 2000m² These plans are a Concept Design and have been developed by BHI Architects in response to Chamber Development’s studies of the site and market. However, should you wish to proceed with the project, we look forward to the opportunity to further develop these plans jointly with you in order to ensure final plans are suitable to your needs prior to submission of the Development Application. 10 March 2010 CHAMBER DEVELOPMENTS 7
  • 8. View to Clubhouse Council Support The site currently has Development Approval for the construction of tourist and residential units. However, Chamber Developments believes that these plans are unsuitable and have therefore proposed layout which will require a new Development Application. Consultation with town planners Worley Parsons indicate that the proposed plan is within the purpose of the Newcastle Environmental Plan 2003 (NLEP 2003) and the State Environmental Planning Policy Local Housing for Seniors or People with a Disability, 2004 (Housing for Seniors SEPP). In initial discussions with Newcastle City Council, their Town Planners advise that the proposed plan is much more sustainable than the previously approved plan (See Appendix A). 10 March 2010 CHAMBER DEVELOPMENTS 8
  • 9. Shopping Centres Residents of “The Waters” will have excellent access to four local shopping precincts and centres within an eight- kilometre radius of the site. These centres are: • Shortland Shops – 400 metres away • Stockland Jesmond Shopping Centre – 2.1 kilometres away • Stockland Wallsend Shopping Centre – 4.4 kilometres away • Westfield Kotara Shopping Centre – 8 kilometres away. Local Services The University of Newcastle The location of “The Waters” adjacent to the University and Activities of Newcastle offers residents the opportunity for further learning and personal development on their doorstep. The university is recognised as the leading tertiary education provider in the Hunter Region. It prides itself on its diverse demographic, with over half the enrolled students being mature age. There is a thriving support Hospitals network for mature age students to ensure they get the most out of their studies and university life. The Hunter region is serviced by a robust Hunter New England Health Service which is currently investing $1.18 Liaison between the Shortland Waters Golf Club and the billion of State Government funds in the delivery of capital University in the preparation of the existing Development works projects across the region. The Calvary Mater Approval show that the university is extremely supportive Hospital is just 5.2 kilometres from “The Waters” and the of the development of the course precinct. The University John Hunter Hospital is just 6.4 kilometres, in addition to a foresees positive additional patronage of the University number of day and private hospitals within a five-kilometre facilities by residents as well as additional facilities for radius of the project. “The Waters”’ location near excellent, the University attendees to utilise. At the time of writing, recently upgraded local hospitals will be very desirable to Chamber Developments is awaiting a meeting with the potential residents. University to discuss the proposed plan. Google Maps Print Notes “The Waters” can enter notes here. You Location of Local Hospitals in relation to “The Waters” Retirement Living Project D Key B F A Newcastle Private Hospital A B William Lane Day Hospital C John Hunter Public Hospital D Calvary Mater Hospital C E Lindgard Private Hospital F Christo Road Private Hospital E 2 km 1 mi ©2010 Google - Map data ©2010 MapData Sciences Pty Ltd, PSMA - Terms of Use 10 March 2010 CHAMBER DEVELOPMENTS 9
  • 10. Recreational Activities Shortland Waters Golf Club Shortland Waters Golf Club is a privately owned club with an 18-hole, par 71, 5,931-metre golf course. Established in 1935, the course has a strong local history and was the social mecca for nearby steelworkers. In association with the development of the “The Waters” Retirement Living Project, the Golf Clubhouse will be completely rebuilt. In addition, the course itself will be upgraded. The brand new facilities will draw golfing enthusiasts to the area, and golfing retirees to the “The Waters”. The Clubhouse will provide residents of “The Waters” with excellent services, including a bistro, bar and gaming facilities. In addition there will be conference rooms which residents can hire for events and functions. A motel will be constructed with the new clubhouse, providing families and friends and the residents with superb short- term accommodation close to the “The Waters”. The Forum Sport and Aquatic Centre “The Waters” is located just 200 metres from “The Forum” Sport and Aquatic Centre. The centre is on the grounds of the University of Newcastle and services the fitness needs of students and residents of surrounding suburbs. The Centre has: • An Olympic standard eight-lane, 50-metre swimming pool which is heated in the winter • Aerobics studios • 90 group fitness classes a week in the pool and studios • Regular health and wellness seminars • Private training studios • Tennis centre • Squash complex • Five sport ovals. Residents of “The Waters” will enjoy access to this facility, with improved health and wellbeing through fitness and physical activities. 10 March 2010 CHAMBER DEVELOPMENTS 10
  • 11. Volunteering Chamber Developments recognises that giving something back to the community will be important to many of the residents of “The Waters”. Located in the immediate area is the extremely popular Hunter Wetlands Centre, where many local residents volunteer. “The Hunter Wetlands Centre Australia is a vibrant wetland ecosystem bursting with life. The site is regarded as a wetland of national and international importance and the centre enjoys a growing reputation for excellence in wetland conservation, education and ecotourism.” (Source: The Hunter Wetlands Centre website.) The centre actively encourages volunteering and has an extremely professional and robust volunteering network for people wishing to contribute both indoors and outdoors. The Hunter Valley “The Waters” is located 45 kilometres from the famous Hunter Valley region – one of Australia’s oldest and one of its most well-known wine regions. The Hunter is a popular tourist and holiday location which features over 60 restaurants, 120 wineries, 160 accommodation venues and a vast range of activities, including visiting cellar doors, antique stores or visiting historic towns and indigenous sites. In addition to being famous for food and wine, the Hunter Valley has also made a name for producing some of the most spectacular events. There are festivals celebrating the local produce, such as Lovedale Long Lunch and Semillon and Seafood and concerts featuring the world’s top musicians, including Jazz in the Vines and Opera in the Vineyards. 10 March 2010 CHAMBER DEVELOPMENTS 11
  • 12. Demographics Current demographics The total population of Newcastle and Hunter Region is, years of 55–64, with 2.6%, as shown in the table below. according to figures released by Global PDC Demographics (These figures are current to the last census in 2006.) and the Australian Bureau of Statistics, growing These figures indicate there will be a strong on-going significantly year on year, with an average growth rate of market for retirement living as the pre-retirement segment 0.6%. The most significant increase is in the pre-retirement of the population moves into the retirement bracket. Average Annual Newcastle 1996 2001 2006 Change 1996-2006 0–14 years 23,684 24,336 24,320 0.3% 15–24 years 21,614 20,545 21,757 0.1% 25–39 years 30,435 29,960 29,725 -0.2% 40–54 years 24,059 27,083 28,922 1.9% 55–64 years 11,339 12,342 14,623 2.6% 65+ years 22,458 22,355 22,405 0.0% Total 133,589 136,621 141,752 0.6% Demographics in the Region of Newcastle. Source: Australian Bureau of Statistics 1996 and 2006 The demographics of the Hunter region as a whole is can be seen in the table below, there are significant recognised to be aging. The ratio of the number of people percentage differences between the Hunter Region and aged 65 years and over to the number of working age NSW, suggesting that there will be a greater demand for people aged 15–64 years is higher in the Hunter Region retirement living in the Hunter than elsewhere in the state. than anywhere else in NSW with 25 per cent compared with 21 per cent respectively. It has been recognised that the It is also worth noting that, according to the Hunter “major challenges of the future … are the need to provide the Valley Research Foundation, there was an increase in the infrastructure and services required for the aging population” male population in the older years over the last decade, (“Newcastle and the Hunter Region 2008–2009”, Hunter Valley suggesting a substantial improvement in men’s health and Research Foundation, pg. 9, attached as Appendix B). there is the expectancy that men’s health in the region will The Hunter Region has a higher percentage of over 55s continue to improve, placing an even higher demand on compared with NSW as a whole – 27.4% to 24.4%. As retirement housing. Hunter NSW Males Females Persons Males Females Persons Proportion Total Proportion Total of Total Change of Total Change Population ‘96–‘06 Population ‘96—‘06 55—59 years 6.5% 6.4% 6.4% 51.9% 6.2% 6.1% 6.1% 45.8% 60–64 years 5.5% 5.4% 5.4% 38.0% 4.9% 4.8% 4.8% 32.7% 65–69 years 4.4% 4.4% 4.4% 5.3% 3.9% 3.9% 3.9% 6.8% 70–74 years 3.1% 3.7% 3.4% 31.0% 2.6% 3.1% 2.9% 26.3% 75–79 years 3.1% 3.7% 3.4% 31.0% 2.6% 3.1% 2.9% 26.3% 80–84 years 2.1% 2.9% 2.5% 52.5% 1.8% 2.5% 2.1% 43.5% 85+ years 1.2% 2.6% 1.9% 71.6% 1.1% 2.3% 1.7% 61.6% Total % of 22.8% 29.1% 27.4% 23.1% 25.8% 24.4% population Source: Australian Bureau of Statistics, Census for Population and Housing, 1996 and 2006 Projected population growth The population of the Hunter Region is predicted to grow by 2026. This will create a pressure on housing availability in the coming decades, with the older population (ages 60 in the retirement sector in particular and on organisations years and over) expected to increase from 21.4% of the providing aged care. total population in 2006 to 27.9% of the total population 10 March 2010 CHAMBER DEVELOPMENTS 12
  • 13. Retirement Living in Newcastle Chamber Developments completed a survey of retirement Greenleaf Ashton Gardens, villages in Newcastle and to confirm it’s findings commissioned Robden Property Services to conduct a survey East Maitland and report on its findings (See Appendix C – Robden Property This village is approximately 20 kilometres from Shortland Services and Capability Statement). The report indicates there and was opened in 2003. Ashton Gardens consists of is currently a range of retirement villages within a 25-kilometre 57 two- and three-bedroom units. The prices of the units radius of the proposed “The Waters” Retirement Living Project. are comparable to Belmont North. The village is located The vast majority are villages that are 10 to 15 years old. adjacent to the New England Highway and is close to a large There appears to be seven main retirement villages within shopping centre. The site does not have any advantageous the specified radius of “The Waters”. These villages are outlooks but does have a private hospital nearby. both privately run and not-for-profits and offer varying standards of living for residents. Greenleaf Terrace Gardens, Greenleaf Belmont North Raymond Terrace This village is within 10 kilometres of “The Waters” and Terrace Gardens is approximately 20 kilometres from is currently selling units in Stage 2 of the project. There Shortland and was opened in 2005. It is smaller than the are currently 44 completed units in Stages 1 and 2 with other Greenleaf facilities with only 20 units on site and no a planned total of 97 units when all stages have been more construction is planned. completed. This village is approximately five years old and has seen reasonably strong sales with two-bedroom units selling for an average of $415,000 and three-bedroom units Bayside, Bonnells Bay selling for an average of $435,000. Bayside opened in 1997 and is located approximately The units are average 90–100 square metres for a two- 15 kilometres from “The Waters”. The village is operated bedroom unit with a single lock-up garage. In addition, some by Lend Lease Prime Life, who have a large portfolio of units also have a parking bay or carport. villages scattered up the eastern sea board. The site could be considered to have distant ocean views It has 237 two- and three-bedroom units, with the two- from some spots, although the terrain is reasonably hilly and bedroom units currently selling for $300,000. Bayside is while construction is ongoing, the landscaping is minimal. It located close to Lake Macquarie with many onsite facilities is located close to a moderate sized shopping centre. including 24-hour call assistance, landscaped gardens and a village bus. It is located five kilometres from a major shopping area. B C “The Waters” Key A Greenleaf Belmont North B Greenleaf Ashton Gardens, E East Maitland C Greenleaf Terrace Gardens, Raymond Terrace F G D Bayside, Bonnells Bay E Maroba, Waratah A F Bolton Point RSL Care G C A Brown Booragul D 10 March 2010 CHAMBER DEVELOPMENTS 13
  • 14. Maroba, Waratah Maroba is operated by a not-for-profit organisation and is the only retirement living development within a 25-kilometre radius that has both low care and high care facilities co- existing with independent living units on the same site. Waratah is an inner suburb of Newcastle and the village has views across Newcastle to the coast. The independent living village first opened 10 years ago and a second stage was completed in the last five years. Maroba consists mostly of two-bedroom units with a few one- and three-bedroom units. There are a total of 40 units in the facility with two-bedroom units selling for $325,000. There is a planned addition to the village of a five-storey serviced apartment block with extensive city and coastal views. These apartments will be two- and three-bedrooms and up to 110 square metres. The operator is hoping to achieve a yield in the vicinity of another 40 units, subject to Council approvals. Bolton Point RSL Care Among the other villages in the area, the largest is Bolton Point RSL Care with around 60 units on site. These units have extensive views of Lake Macquarie and are approximately 15 kilometres from Shortland. The village underwent refurbishment approximately six years ago. Sales of two-bedroom units is believed to be in the mid- $300,000s, however the operator was not in a position to reveal current prices due to the licence agreement arrangement which sees prices matched to clients’ wealth. C A Brown Booragul This is also a not-for-profit complex run by the Anglican Church and has a high- and low-care facility attached. Many of the units are more than 20 years old, however a number were refurbished approximately eight years ago. The village does not have any significant views and is located close to the main northern rail line and is subject to constant train noise. Prices in this village range from the mid-$100,000s for an older one-bedroom unit to $300,000 for newer two- and three-bedroom units. Market observations indicate that prospective buyers are requiring two-bedroom units as a minimum, with three-bedroom units becoming increasingly popular as this allows family and, more frequently, grandchildren to visit and stay with ease and comfort. The not-for- profit sector is struggling to find a ready market with ageing units. Yet some prospective residents regard the Church organisations as providing continuity of care from independent living units through to higher care as they age. The result is a split in the Newcastle market – Church organisations which are operating retirement living as complete campuses (including low and high care) and private organisations which supply the market as “Over 55” villages. The majority of these “over 55s” villages offer a lifestyle to retirees, rather than aged care. Prospective residents can be enticed from their suburban homes to units providing the complex offers an open and active lifestyle, with facilities that appeals to an active and interested group of retirees. A sample of brochures for these villages can be found in Appendix D. 10 March 2010 CHAMBER DEVELOPMENTS 14
  • 15. Real Estate Sale History – Newcastle Median house and unit prices in Newcastle have enjoyed to $410,000 in 2009. In addition, as can be seen from steady gains in the last ten years, with the median house the graph below (with the exception of a traditional pre- price rising from $357,000 in 2001 to $600,000 in 2009. Christmas dip), demand for the property in Newcastle is Units have also seen gains, rising from $309,000 in 2001 meeting or outstripping supply. Median sale prices in Newcastle Median House Price Median Unit Price $500K $400K $300K $0K 2001 2002 2003 2004 2005 2006 2007 2008 2010 Supply and Demand for properties in Newcastle Advertised properties (Supply) People looking (Demand) 1,500 150 1,000 100 500 50 0 0 Sep 09 Oct 09 Nov 09 Dec 09 Jan 10 10 March 2010 CHAMBER DEVELOPMENTS 15
  • 16. Median House and Unit Sales Median House House Price % Unit Price % Year Median Unit Price Price Change (YoY) Change (YoY) 2001 $357,000 35.4% $309,000 -13.0% 2002 $370,000 3.6% $369,000 19.4% 2003 $365,900 -1.1% $449,000 21.7% 2004 $535,000 46.2% $510,000 13.6% 2005 $346,750 -35.2% $450,000 -11.8% 2006 $545,000 57.2% $552,521 22.8% 2007 $555,000 1.8% $445,000 19.5% 2008 $640,000 15.3% $416,000 -6.5% 2009 $600,000 -6.3% $410,000 -1.4% Source: MyRPData.com Recent Sales in Newcastle Address Type Price Sale Type Beds Sale Date 12 Perkins Street House $495,000 Normal Sale - 23/12/09 307/4 Honeysuckle Dr Unit $440,000 Normal Sale 2 09/12/09 38 Wolfe St House $650,000 Normal Sale - 15/12/09 307/4 Honeysuckle Dr Unit $440,000 Normal Sale 2 09/12/09 36 Wolfe St House $650,000 Normal Sale 3 30/11/09 38 Wolfe St House $650,000 Normal Sale - 15/12/09 37 Perkins St House $440,000 Normal Sale 2 29/10/09 35 Perkins St House $400,000 Normal Sale 2 07/10/09 Source: MyRPData.com 10 March 2010 CHAMBER DEVELOPMENTS 16
  • 17. Construction Resources Schedule In the preparation of its projects, Chamber Developments has an association with, and draws on the resources of: • BHI – Architects It is envisaged that “The Waters” project would be • Coffey Projects – Project Managers constructed in stages. As Chamber Developments will be required to rebuild the clubhouse and those golf • Dean Dransfield – Hotel and Resort Consultants holes that will be consumed by the project, it will be • HWL Ebsworth – Solicitors necessary to integrate construction schedules to allow • JBA – Urban Planning the uninterrupted operation of the golf club and course. • Miller & Miller Strategic Communications Consultants • Mitchell Brandtman – Quantity Surveyors • Richard Chamberlain – Golf Course Architect • Robden Property Services – Retirement Living Consultant • Whelans Insites – Surveyors and Development Consultants • Worley Parsons – Urban and Town Planning Reports The following reports were completed as part of two Development Applications which were approved for Tourism at Shortland Waters Golf Club. These reports are to be updated as a requirement for the new Development Applications for the redevelopment of the club house, golfing facilities and The Waters Retirement Village. These reports may be used to gain knowledge of the site and will be made available on request. • Bushfire Threat Assessment by Harper Sommer O’Sullivan, dated July 2005 • Contamination Testing Report by Douglas Partners, dated July 2005 • Drainage Plan & Report by Geoff Craig & Associates • Ecological Assessment by Warren Brown, dated 11 July 2005 • Geotechnical Investigation by Douglas Partners, dated July 2005 • Landscape Design Report by Verge Landscape Architects • Noise Impact Assessment by Hunter Land Holdings Pty Ltd, dated July 2005 • Traffic Assessment Report by LB Dowling & Associates Pty Ltd, dated 14 July 2005 Qualifier This Development Proposal has been prepared solely for information purposes and to assist the purchaser in evaluating the offer proposed recognising that it may not contain all the required information. Neither Chamber Developments or its advisers have independently verified all of the information or data contained in this Development Proposal. Certain information contained in this Development Proposal has been supplied by Shortland Waters Golf Club and consultants engaged by it. These consultants are not presently engaged by Chamber Developments. It is anticipated that the purchaser will make its own investigations and analysis of the offer and the contents of this Development Proposal. 10 March 2010 CHAMBER DEVELOPMENTS 17
  • 18. Appendix A – Worley Parsons Report 10 March 2010 CHAMBER DEVELOPMENTS 18
  • 19.      Incorporating  Planning Workshop Australia       Proposed Shortland Waters Development Meeting with Newcastle City Council Officers 2 March 2010 In attendance: [DJ]- Damian Jaegar, Senior Development Officer/ Town Planner, Newcastle City Council (NCC) [DR]- David Reiner, Senior Development Officer (Acting Development Building Coordinator), NCC [BB]- Brian Brown, Director, Chamber Developments [MS]- Mark Stone, Director, Chamber Developments [KT]- Kevin Taylor, Director, Chamber Developments [GF]- Garry Fielding, NSW Manager Planning & Approvals, WorleyParsons  GF provided an outline of the development proposal for the Shortland Waters site, referring to the Preliminary Masterplan prepared by bhi Architecture. He indicated the intention to develop a new clubhouse, function centre and restaurant in the portion of the site the subject of Council’s consent for tourist accommodation near the western boundary of the site, immediately to the south-west of the Chichester pipeline; the development of approximately 250 seniors’ housing Self-Contained Dwellings adjacent to the southern and south-western boundary of the site; a nursing home within the south-eastern corner of the site; and a medical centre and convenience shops, either adjacent to the proposed nursing home or in the south-western corner of the site. It was also indicated that the two fairways displaced by the proposed development adjacent to the south-eastern boundary of the site, would be relocated to the Council owned land (former garbage tip) immediately to the north-east of the site.  GF indicated that the proposed development was permissible under the Newcastle Local Environmental Plan 2003 (NLEP 2003) and the State Environmental Planning Policy (Housing for Seniors or People with a Disability) 2004 (Housing for Seniors SEPP), referring particularly to the provisions of the SEPP concerning seniors’ housing on land used for the purposes of an existing registered club.  GF outlined the locational advantages the site offered for seniors’ housing development, noting its close proximity to the facilities at the University of Newcastle, including the Forum indoor sports centre and pool and the University library. He also referred to the potential for the site to utilise the nearby Warabrook train station.  DJ responded by confirming the permissibility of the proposed development under NLEP 2003 and the SEPP. He indicated the need to address bushfire protection measures, noise impacts associated with the railway line and overall traffic management. He particularly noted the need to avoid road links to the University road system that would encourage ‘rat runs’ from the University to the bridge access across Jesmond Bypass Road. 10 March 2010 Shortland Waters meeting notes 2 Mar 2010.doc CHAMBER DEVELOPMENTS 19
  • 20. Incorporating Planning Workshop Australia  BB and KT advised that the development could be undertaken in stages, with the first stage comprising the new clubhouse/ function centre and the relocation of the two fairways onto the land currently owned by NCC. They also indicated they had received support for the proposal through discussions with University officials.  GF advised that the next step in the planning process was to lodge an application for a Site Compatibility Certificate with the Department of Planning (DoP). Assuming this would be granted by DoP, a further meeting with Council officers would then be arranged to discuss in detail the development proposed for the site. Notes prepared by GF. Shortland Waters meeting notes 2 Mar 2010.doc 2 4 March 2010 10 March 2010 CHAMBER DEVELOPMENTS 20
  • 21. Appendix B – “Newcastle and the Hunter Region 2008–2009”, Hunter Valley Research Foundation Report 10 March 2010 CHAMBER DEVELOPMENTS 21
  • 22. Population and demography Age The growth of the regional population is considered according to major sub- regions in the Hunter (the Lower Hunter, Upper Hunter and Other Hunter), distribution followed by a summary for the Region as a whole. and growth The population of the Lower Hunter totalled 493,462 persons in 2006. The 1996 – 2006 most populous local government areas (LGAs) were Lake Macquarie (183,139) and Newcastle (141,752). Over the 10 years between 1996 and 2006: Lower Hunter • The population of the sub-Region grew at an average annual rate of 0.9 per cent, slightly higher than the rate for the whole of the Hunter Region (0.8 per cent) and equivalent to the average rate of growth for the State. • The fastest growing LGAs were Maitland and Port Stephens, increasing at an average annual rate of 2.1 per cent and 1.7 per cent respectively. • The slowest growing LGAs were Cessnock, where the population increased at an average rate of 0.3 per cent per annum, followed by Newcastle and Lake Macquarie, each with an average rate of growth of 0.6 per cent per annum. The chart below compares growth rates in each of the Lower Hunter LGAs, the sub-Region in total, the Hunter and State. Details of the age distribution in the Lower Hunter are provided in the table over. Average annual rate of population change, Lower Hunter, 1996 - 2006 2.5% 2.1% 2.0% 1.7% 1.5% 1.0% 0.9% 0.8% 0.9% 0.6% 0.6% 0.5% 0.3% 0.0% Maitland Port Newcastle Lake Cessnock Lower Hunter NSW Stephens Macquarie Hunter total Source: Australian Bureau of Statistics, Census of Population and Housing , 1996 and 2006, Cat. No. 2068.0 Newcastle and the Hunter Region 2008 – 2009 1 10 March 2010 CHAMBER DEVELOPMENTS 22
  • 23. Age distribution and change, Lower Hunter, 1996 - 2006 Average Average annual annual change change 1996 2001 2006 '96–'06 1996 2001 2006 '96–'06 Cessnock Lake Macquarie 0-14 years 10,553 10,218 10,043 -0.5% 38,099 37,809 35,872 -0.6% 15-24 years 6,167 5,880 5,875 -0.5% 22,955 22,684 23,158 0.1% 25-39 years 9,744 8,999 8,707 -1.1% 35,613 34,004 31,326 -1.3% 40-54 years 8,951 9,820 9,725 0.8% 35,846 38,992 39,066 0.9% 55-64 years 3,557 4,354 5,575 4.6% 15,989 19,147 22,969 3.7% 65+ years 5,763 6,106 6,281 0.9% 24,223 27,679 30,748 2.4% Total 44,735 45,377 46,206 0.3% 172,725 180,315 183,139 0.6% Maitland Newcastle 0-14 years 12,520 12,983 14,208 1.3% 23,684 24,336 24,320 0.3% 15-24 years 7,362 7,626 8,430 1.4% 21,614 20,545 21,757 0.1% 25-39 years 11,351 11,290 12,553 1.0% 30,435 29,960 29,725 -0.2% 40-54 years 10,111 11,664 12,960 2.5% 24,059 27,083 28,922 1.9% 55-64 years 3,628 4,717 6,495 6.0% 11,339 12,342 14,623 2.6% 65+ years 5,352 6,110 7,235 3.1% 22,458 22,355 22,405 0.0% Total 50,324 54,390 61,881 2.1% 133,589 136,621 141,752 0.6% Port Stephens Lower Hunter total 0-14 years 12,258 12,791 12,585 0.3% 97,114 98,137 97,028 0.0% 15-24 years 6,220 6,501 7,101 1.3% 64,318 63,236 66,321 0.3% 25-39 years 11,157 11,026 10,056 -1.0% 98,300 95,279 92,367 -0.6% 40-54 years 9,679 11,654 12,577 2.7% 88,646 99,213 103,250 1.5% 55-64 years 4,868 6,361 7,933 5.0% 39,381 46,921 57,595 3.9% 65+ years 6,964 8,438 10,232 3.9% 64,760 70,688 76,901 1.7% Total 51,146 56,771 60,484 1.7% 452,519 473,474 493,462 0.9% Source: Australian Bureau of Statistics, Census of Population and Housing, 1996 and 2006, Cat. No. 2068.0 The age distribution shown in the table above illustrates the ageing of the Lower Hunter population. Between 1996 and 2006: • In the sub-Region overall, the population aged 40 and over increased (at an average rate of 2.1 per cent per annum), while the population aged below 40 declined (by 0.2 per cent per annum on average). • Maitland was the only LGA in which the population aged below 40 increased (at an average annual rate of 1.2 per cent). Despite this growth, the increase in the older population (3.4 per cent per annum on average) substantially out-stripped that of the younger cohort. • The size of the younger population (below 40) remained relatively stable in Port Stephens and Newcastle, while it declined in both Cessnock and Lake Macquarie at an average rate of 0.7 per cent per annum. 2 Newcastle and the Hunter Region 2008 – 2009 10 March 2010 CHAMBER DEVELOPMENTS 23
  • 24. • Among the under 40s, the age group with the greatest rate of decline (or slowest rate of increase) was the 25 to 39 year olds, the age range in which most women have children. The chart below compares rates of growth of the under 40 and 40 and over age cohorts in each of the Lower Hunter LGAs. Average annual rate of change of the 'younger' and 'older' population cohorts, Lower Hunter, 1996 - 2006 4.0% 3.6% 3.4% Under 40 40+ 3.5% 3.0% 2.5% 2.0% 2.1% 2.0% 1.7% 1.5% 1.2% 1.3% 1.0% 0.5% 0.04% 0.01% 0.0% -0.5% -0.2% -1.0% -0.7% -0.7% Maitland Port Stephens Newcastle Lake Macquarie Cessnock Lower Hunter total Source: Australian Bureau of Statistics, Census of Population and Housing , 1996 and 2006, Cat. No. 2068.0 Upper Hunter The population of the Upper Hunter totalled 50,152 persons in 2006, with Singleton the most populous of the three LGA (21,940). Over the 10 years between 1996 and 2006: • The population of the sub-Region grew at an average annual rate of 0.2 per cent, substantially lower than the rate for the whole of the Hunter Region (0.8 per cent) and the State (0.9 per cent). • The fastest growing LGA was Singleton, the population of which increased at an average annual rate of 1.1 per cent. • The population declined in both Muswellbrook and the Upper Hunter Shire, at an average annual rate of 0.1 per cent and 0.8 per cent respectively. The chart over compares growth rates in each of the Upper Hunter LGAs, the sub-Region in total, the Hunter and State. Details of the age distribution in the Upper Hunter are provided in the table following. Newcastle and the Hunter Region 2008 – 2009 3 10 March 2010 CHAMBER DEVELOPMENTS 24
  • 25. Average annual rate of population change, Upper Hunter, 1996 - 2006 1.5% 1.1% 1.0% 0.8% 0.9% 0.5% 0.2% 0.0% -0.1% -0.5% -0.8% -1.0% Singleton Muswellbrook Upper Hunter Upper Hunter Hunter NSW Shire total Source: Australian Bureau of Statistics, Census of Population and Housing , 1996 and 2006, Cat. No. 2068.0 Age distribution and change, Upper Hunter, 1996 - 2006 Average Average annual annual change change 1996 2001 2006 '96–'06 1996 2001 2006 '96–'06 Muswellbrook Singleton 0-14 years 4,038 3,664 3,695 -0.9% 5,311 5,119 5,366 0.1% 15-24 years 2,208 1,926 2,059 -0.7% 2,690 2,788 2,911 0.8% 25-39 years 3,716 3,339 3,171 -1.6% 4,793 4,504 4,575 -0.5% 40-54 years 3,030 3,105 3,209 0.6% 4,027 4,598 4,826 1.8% 55-64 years 1,108 1,273 1,560 3.5% 1,327 1,625 2,187 5.1% 65+ years 1,264 1,396 1,542 2.0% 1,609 1,875 2,075 2.6% Total 15,364 14,703 15,236 -0.1% 19,757 20,509 21,940 1.1% Upper Hunter Shire Upper Hunter total 0-14 years 3,339 2,625 2,635 -2.3% 12,688 11,408 11,696 -0.8% 15-24 years 1,658 1,468 1,639 -0.1% 6,556 6,182 6,609 0.1% 25-39 years 3,005 2,266 2,279 -2.7% 11,514 10,109 10,025 -1.4% 40-54 years 2,940 2,635 2,815 -0.4% 9,997 10,338 10,850 0.8% 55-64 years 1,312 1,261 1,598 2.0% 3,747 4,159 5,345 3.6% 65+ years 1,817 1,589 2,010 1.0% 4,690 4,860 5,627 1.8% Total 14,071 11,844 12,976 -0.8% 49,192 47,056 50,152 0.2% Source: Australian Bureau of Statistics, Census of Population and Housing, 1996 and 2006, Cat. No. 2068.0 4 Newcastle and the Hunter Region 2008 – 2009 10 March 2010 CHAMBER DEVELOPMENTS 25
  • 26. The age distribution shown in the table above illustrates the ageing of the Upper Hunter population. Between 1996 and 2006: • In the sub-Region overall, the population aged 40 and over increased (at an average rate of 1.7 per cent per annum), while the population aged below 40 declined (by 0.8 per cent per annum on average). • The size of the younger population (below 40) remained relatively stable in Singleton, while it declined in both Muswellbrook and the Upper Hunter Shire at an average annual rate of 1.1 per cent and 2.0 per cent respectively. • Among the under 40s, the age group with the greatest rate of decline was the 25 to 39 year olds, the age range in which most women have children. The chart below compares rates of growth of the under 40 and 40 and over age cohorts in each of the Upper Hunter LGAs. Average annual rate of change of the 'younger' and 'older' population cohorts, Upper Hunter, 1996 - 2006 3.0% 2.7% Under 40 40+ 2.0% 1.7% 1.6% 1.0% 0.6% 0.05% 0.0% -1.0% -0.8% -1.1% -2.0% -2.0% -3.0% Singleton Muswellbrook Upper Hunter Shire Upper Hunter total Source: Australian Bureau of Statistics, Census of Population and Housing , 1996 and 2006, Cat. No. 2068.0 Other Hunter The population of the Other Hunter area totalled 45,626 persons in 2006, with Great Lakes the most populous LGA (32,764). Over the 10 years between 1996 and 2006: • The population of the sub-Region area grew at an average annual rate of 1.2 per cent, higher than the rate for the whole of the Hunter Region (0.8 per cent) and the State (0.9 per cent). • Great Lakes was the fastest growing LGA, increasing at an average annual rate of 1.6 per cent. The population in Dungog rose at a substantially lower rate of 0.4 per cent per annum on average. Newcastle and the Hunter Region 2008 – 2009 5 10 March 2010 CHAMBER DEVELOPMENTS 26
  • 27. • In Gloucester the population declined at an average annual rate of 0.2 per cent. The chart below compares growth rates in each of the Other Hunter LGAs, the sub-Region in total, the Hunter and State. Details of the age distribution in the Other Hunter follow in the table. Average annual rate of population change, Other Hunter, 1996 - 2006 2.0% 1.6% 1.5% 1.2% 1.0% 0.8% 0.9% 0.4% 0.5% 0.0% -0.2% -0.5% Great Lakes Dungog Gloucester Other Hunter Hunter NSW total Source: Australian Bureau of Statistics, Census of Population and Housing , 1996 and 2006, Cat. No. 2068.0 Age distribution and change, Other Hunter, 1996 - 2006 Average Average annual annual change change 1996 2001 2006 '96–'06 1996 2001 2006 '96–'06 Dungog Gloucester 0-14 years 1,834 1,813 1,701 -0.8% 1,113 987 874 -2.4% 15-24 years 854 864 873 0.2% 508 438 422 -1.8% 25-39 years 1,643 1,455 1,266 -2.6% 901 753 625 -3.6% 40-54 years 1,554 1,843 1,884 1.9% 958 1,016 1,029 0.7% 55-64 years 803 952 1,081 3.0% 577 621 786 3.1% 65+ years 1,032 1,110 1,257 2.0% 829 936 1,064 2.5% Total 7,720 8,037 8,062 0.4% 4,886 4,751 4,800 -0.2% Great Lakes Other Hunter total 0-14 years 5,518 5,513 5,263 -0.5% 8,465 8,313 7,838 -0.8% 15-24 years 2,381 2,653 2,869 1.9% 3,743 3,955 4,164 1.1% 25-39 years 4,652 4,372 4,004 -1.5% 7,196 6,580 5,895 -2.0% 40-54 years 5,091 6,115 6,393 2.3% 7,603 8,974 9,306 2.0% 55-64 years 3,673 4,726 5,139 3.4% 5,053 6,299 7,006 3.3% 65+ years 6,771 7,822 9,096 3.0% 8,632 9,868 11,417 2.8% Total 28,086 31,201 32,764 1.6% 40,692 43,989 45,626 1.2% Source: Australian Bureau of Statistics, Census of Population and Housing, 1996 and 2006, Cat. No. 2068.0 6 Newcastle and the Hunter Region 2008 – 2009 10 March 2010 CHAMBER DEVELOPMENTS 27
  • 28. The age distribution shown in the table above illustrates the ageing of the Other Hunter population. Between 1996 and 2006: • In the sub-Region overall, the population aged 40 and over increased (at an average rate of 2.7 per cent per annum), while the population aged below 40 declined (by 0.8 per cent per annum on average). • The size of the younger population (below 40) declined in all LGAs, with the rate of decline lowest in Great Lakes (0.3 per cent per annum on average) and highest in Gloucester (2.7 per cent). • Among the under 40s, the age group with the greatest rate of decline was the 25 to 39 year olds, the age range in which most women have children. The chart below compares the rates of growth of the under 40 and 40 and over age cohorts in each of the Other Hunter LGAs. Average annual rate of change of the 'younger' and 'older' population cohorts, Other Hunter, 1996 - 2006 2.9% 3.0% Under 40 40+ 2.7% 2.2% 2.0% 2.0% 1.0% 0.0% -0.3% -1.0% -0.8% -1.2% -2.0% -3.0% -2.7% Great Lakes Dungog Gloucester Other Hunter total Source: Australian Bureau of Statistics, Census of Population and Housing , 1996 and 2006, Cat. No. 2068.0 The Hunter In 2006 the population of the Hunter Region was 589,240 persons, approximately 9 per cent of the State total of 6.5 million. The charts over Region present population growth rates for all Hunter Region LGAs over the decade from 1996 to 2006: • The fastest growing, at rates above the regional and State averages, were: Maitland (at an average annual rate of 2.1 per cent), Port Stephens (1.7 per cent), Great Lakes (1.6 per cent) and Singleton (1.1 per cent). In all other LGAs the population increased at a relatively slow rate, or it declined. There were declines in Muswellbrook (at an average annual rate of 0.1 per cent), Gloucester (0.2 per cent) and the Upper Hunter Shire (0.8 per cent). Newcastle and the Hunter Region 2008 – 2009 7 10 March 2010 CHAMBER DEVELOPMENTS 28
  • 29. • Maitland is the only LGA in the Hunter in which the population aged under 40 increased, though the rate of increase of this group was substantially lower than for the over 40s (1.2 per cent per annum on average compared with 3.4 per cent respectively). • The younger population was relatively stable in Singleton, Port Stephens and Newcastle, and it declined in all other Hunter LGAs. Rates of decline in the under 40 age cohort were greatest in Muswellbrook (1.1 per cent per annum on average), Dungog (1.2 per cent), Upper Hunter Shire (2.0 per cent) and Gloucester (2.7 per cent). Average annual rate of population change, Hunter Region, 1996 - 2006 2.5% 2.1% 2.0% 1.7% 1.6% 1.5% 1.1% 1.2% 1.0% 0.9% 0.8% 0.9% 0.6% 0.6% 0.4% 0.3% 0.5% 0.2% 0.0% -0.1% -0.2% -0.5% -1.0% -0.8% SW al r nd ns ie g le ok re n al al s r k te te ke go to oc ot ar st ot ot hi he t la un ro es le N rt La ca qu rt rt un sn rS llb ai ep H ng uc te te te ew D ac es M at te we un St Si lo un un C re un M N G us H rt H H G H ke Po er M er er er La th w pp pp Lo O U U Source: Australian Bureau of Statistics, Census of Population and Housing , 1996 and 2006, Cat. No. 2068.0 Average annual rate of change of the 'younger' and 'older' population cohorts, Hunter Region, 1996 - 2006 4.0% 3.4% 3.6% Under 40 40+ 2.7% 2.9% 3.0% 2.0% 2.2% 2.0% 2.0% 1.7% 1.6% 1.2% 1.3% 1.0% 0.6% 0.0% 0.05% 0.04% 0.01% -1.0% -0.3% -0.7% -0.7% -1.1% -1.2% -2.0% -2.0% -3.0% -2.7% nd s ie og tle k re on r es ck te en o ar i ak s t la g ro o et Sh es h ca qu un sn l lb ai ep tL ng uc r ew D es ac l M te we a St Si lo C re un M N G us rt G rH ke Po M La e pp U Source: Australian Bureau of Statistics, Census of Population and Housing , 1996 and 2006, Cat. No. 2068.0 8 Newcastle and the Hunter Region 2008 – 2009 10 March 2010 CHAMBER DEVELOPMENTS 29
  • 30. The following table presents population totals and annual average rates of growth for specified age groups in the Region and the State between 1996 and 2006: • Rates of growth were similar in the Region and State although, on balance, there was a small decline in the regional population aged under 40 (by an average of 0.3 per cent per annum), while there was a very slight increase in this cohort in the State (by an average of 0.01 per cent per annum). • In the both the Region and the State there was a decline in the population of 25 to 39 year olds, the age range in which most women have children. The decline in the Hunter was greater than in the State. • The rate of increase in the older population (aged 40 and above) was slightly higher in the Hunter (2.1 per cent per annum on average) than in the State (2.0 per cent). The old-age dependency ratio is the ratio of the number of people aged 65 and over to the number of working age people between 15 and 64. This ratio has been increasing over the past decade in both the Region and the State, meaning that there are proportionally fewer working age people to support the older, generally retired population. Moreover, the ratio is higher in the Hunter than in the State: 25 per cent compared with 21 per cent respectively in 2006. Major challenges for the future, now well recognised, are the need to provide the infrastructure and services required for the ageing population, and incentives to keep young people in regional areas. See also the population projections at the end of this chapter. Population age distribution and change, Hunter and NSW, 1996 - 2006 Hunter NSW Average Average annual annual change change 1996 2001 2006 '96–'06 1996 2001 2006 '96–'06 0-14 years 118,267 117,858 116,560 -0.1% 1,286,689 1,314,456 1,298,916 0.1% 15-24 years 74,617 73,373 77,103 0.3% 849,575 845,964 871,716 0.3% 25-39 years 117,010 111,968 108,281 -0.8% 1,397,074 1,400,152 1,365,729 -0.2% 40-54 years 106,246 118,525 123,402 1.5% 1,193,472 1,336,523 1,387,494 1.5% 55-64 years 48,181 57,379 69,948 3.8% 515,152 597,588 719,547 3.4% 65+ years 78,082 85,416 93,946 1.9% 764,244 831,896 905,777 1.7% Total 542,403 564,519 589,240 0.8% 6,006,206 6,326,579 6,549,179 0.9% Source: Australian Bureau of Statistics, Census of Population and Housing, 1996 and 2006, Cat. No. 2068.0 Newcastle and the Hunter Region 2008 – 2009 9 10 March 2010 CHAMBER DEVELOPMENTS 30