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Please find attached a media release in relation to the award of a $190m contract for a commercial office tower located in the Brisbane CBD at 275 George Street. Yours sincerely, WATPAC LIMITED Ravin Raj COMPANY SECRETARY For more information: Greg Kempton Managing Director PH: (07) 3251 6327 Ravin Raj Company Secretary PH: (07) 3251 6442 ABN: 98 010 562 562 1024 Ann Street PO Box 2053, Fortitude Valley Queensland 4006 Australia Fax: 07 3251 6393 Web: www.watpac.com.au Phone: 07 3251 6300 MEDIA RELEASE Page 1 of 2 May 17 2007 WATPAC AWARDED $190 million CBD CONTRACT Brisbane’s CBD will witness one of its most prominent commercial office tower developments draw closer to fruition as Watpac Limited (ASX:WTP) commences construction after formal award of contract. The commercial office tower located at 275 George Street is part of developer, Charter Hall’s $550 million CBD office development and includes the redevelopment of Northbank Plaza. Watpac’s Refurbishments Division has also been awarded the refurbishment work to Northbank Plaza. The A-grade, 31-level commercial office tower will span approximately 40,000m2 and include a 5 Green Star rating and 4.5 Star Australian Building Greenhouse Rating. The project has already secured Queensland’s largest pre-commitment leasing deals with telecommunications giant Telstra. Watpac’s Managing Director, Greg Kempton, said award of this project was significant for the company. “Watpac has delivered some of Brisbane’s most prominent hi-rise commercial buildings and our team brings CBD construction expertise to 275 George Street,” he said. “We have worked closely with Charter Hall to harmonise their requirements with our resources and are committed to delivering nothing less than a superior CBD building that will boost Brisbane’s profile and stand as a benchmark for future CBD developments,” Mr Kempton said. Construction of this tower comes at an apt time when the Brisbane CBD is struggling to meet demand for office space with limited opportunities currently available for tenants. Low vacancy rates in the CBD continue to feed demand for A-grade office space such as 275 George Street - creating the prefect environment to undertake the project. Page 2 of 2 Watpac is currently undertaking a string of CBD projects as follows: • Northbank Plaza, Brisbane CBD • Brisbane Central, Brisbane CBD • Skyline Apartments, Brisbane CBD • Queens Plaza, Brisbane CBD • 63 George Street, Brisbane CBD • Waterloo Junction, Fortitude Valley • Montepelier Road, Fortitude Valley • St Paul’s Terrace, Fortitude Valley - ENDS - For further information, please contact: Name Mr Greg Kempton Position Managing Director, Watpac Limited Phone 07 3251 6327
WTP Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
