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Review of Group Entities
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WHSP continues to investigate opportunities in real estate, particularly property benefitting from urban
renewal. Following the acquisition of two office buildings in Pennant Hills, NSW during the first half, Pitt Street
Real Estate Partners (PSRE) has leased up the vacancy at rents higher than anticipated. In addition, PSRE has
investigated the potential rezoning of the properties to mixed use and they now form part of the Pennant
Hills Town Centre Master Plan which is due to be released in the first half of 2017. The Pennant Hills properties
add to WHSP’s existing asset in Castle Hill, NSW.
The Castle Hill property consists of a four hectare land parcel with 15,000 square metres of warehouse and
5,000 square metres of office space. In December, the NSW Department of Planning and Infrastructure
released its Showground Station Precinct Proposal for exhibition. WHSP’s property is within this precinct. The
plan aims to activate the precinct for a higher and better use following the introduction of the North West
Rail Link. It is expected that the outcome of the plan will be known by the end of December 2016.
In August 2015, PSRE was awarded a contract to develop and deliver two bus depots for Transdev Australasia,
on behalf of Public Transport Victoria. Development of the bus depots continued through the year.
Construction of the Sunshine West depot was completed in July 2016, with settlement in late September
2016. The Thomastown depot is under construction and due for completion in December 2016.
Other Investments
Investment Properties
100% held
Pennant Hills
Castle Hill
% held
Ampcontrol Pty Limited
43.3%
Belaroma Coffee Pty Limited
40.0%
Clover Corporation Limited
28.6%
Cromford Group Pty Limited
100.0%
Heritage Brands Limited
25.1%
Lindsay Australia Limited
19.2%
Pitt Capital Partners Limited
100.0%
Quickstep Holdings Limited
15.9%
Rum Jungle Resources Limited
38.3%
Specialist Oncology Property Pty Limited
24.1%
TPI Enterprises Limited
19.4%