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Premier announces approval of concept plan for Frasers Broadway site

Sydney – 19 February 2009 – Frasers Property today welcomed the New South Wales Government’s decision to approve the modified concept plan for the Frasers Broadway site (the old Carlton United Brewery) in Chippendale. This approval, from Planning Minister The Hon. Kristina Keneally, announced today by Premier The Hon. Nathan Rees, gives the green light to opening up this 5.8 hectare site in inner Sydney, closed to the public for 150 years reports this statement from Frasers on 19 February 2009.

CEO of Frasers Property Australia, Dr Stanley Quek, said the company was delighted to receive approval for the project. Frasers Property’s commitment to the $2 billion project highlights the long-term approach of the company in Australia.

The Frasers Broadway project represents a significant investment in the Sydney economy. This $2 billion project, extending across 5.8 hectares of inner Sydney, will create dwellings for approximately 2,500 new residents and workspace for 5,400 workers. Up to 1200 construction jobs will be created by the development.

“This project offers a rare opportunity to design a large, mixed-use quarter on the southern gateway to the Sydney CBD,” said Dr Quek, adding “We are committed to investing in the future of this global city”.

“Frasers Broadway will be intimately connected to the web of inner-Sydney life, attracting residents and visitors to its large central park and people-friendly boulevards. A mix of homes, retail, cultural and commercial space will make for an animated and accessible urban quarter, surrounded by Sydney’s best education and transport infrastructure,” Dr Quek added.

“This project has involved extensive planning and consultation. We have listened to a wide range of views and taken a world-leading position on sustainability initiatives to deliver significant environmental, social, cultural and economic benefits to the local community and to Sydney as a whole,” Dr Quek said.

Amendments to the original concept plan for the site, approved today, have allowed Frasers to incorporate the latest thinking and most up-to-date technology in the fast-moving sustainability industry, and to respond to community interests. Other changes include an increase in publicly accessible open space, marked reduction in surface vehicle traffic and the removal of one major building to enlarge the main park and plaza.

Design quality is a high priority for Frasers, which has a uniquely international approach. Foster + Partners have led the master planning process and designed the iconic commercial building, while the Australian team is led by Richard Johnson of Johnson Pilton Walker. Pritzker award winning architect Jean Nouvel has designed the landmark residential tower which will feature prominently on Broadway. This building will feature the greening of a large proportion of the façade, designed in collaboration with French botanist and artist Patrick Blanc.

This ‘living’ building is just one of many sustainability features being introduced into the development. Tri-generation technology and water recycling operations will be in place to provide on-site energy and non-potable water needs. Frasers Property is pro-actively investigating all available technologies and initiatives to target zero net carbon across the precinct.

Construction of the first buildings on the Frasers Broadway site is anticipated to commence in early 2010.

Media inquiries:
Natalie Payne, Capital Group on 02 9252 3900 or 0450 035 075
Lisa McCutchion, Frasers Property on 02 8823 8800 or 0407 222 206

Fact Sheet on Frasers Broadway
Images of the proposed iconic buildings and access to the development site are available on request.

Source: www.frasersbroadway.com.au/broadway/lat.htm#feb11