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URBAN DEVELOPMENT INSTITUTE OF AUSTRALIA (QUEENSLAND) Annual Report 2015 SUPPORTING QUEENSLAND COMMUNITIES AND BUILDING 2015 UDIA (Qld) Awards for Excellence winner Sunshine Cove by Chardan Development Group

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Supporting and Building 2015 ANNUAL REPORT 1

URBAN DEVELOPMENT INSTITUTE OF AUSTRALIA (QUEENSLAND)

Annual Report 2015

SUPPORTING

QUEENSLAND COMMUNITIESAND BUILDING

2015 UDIA (Qld) Awards for Excellence winner Sunshine Cove by Chardan Development Group

Supporting and Building 2015 ANNUAL REPORT2

about the

UDIA (QLD)

The Queensland office of the Urban Development Institute of Australia (UDIA)

was established in 1971 and is now the largest of all the UDIA state bodies.

The UDIA (Qld) is committed to

pursuing opportunities, innovation

and growth through strong leadership,

advocacy and participation for the

benefit of Queensland’s communities.

Last year we were involved with every

major planning reform across the

state, at every level of government,

and we firmly advocated for the

continued delivery of appropriate

and affordable housing. We have

been responsible for putting major

industry issues on the political agenda

and ensuring they are addressed.

More than that we are proud to

play a big role in the lives of every

Queenslander at every stage of life.

Our members build playgrounds

and community centres; apartment

buildings, townhouses and houses;

warehouses, office buildings and

more. We are passionate about our

industry and the transformative

effect we have had together on the

skylines, coastlines, cities, towns

and suburbs of Queensland.

To make sure our members can make

informed decisions we established

our Research Foundation in 2014.

Proudly presented by Construction

Skills Queensland, the Research

Foundation provides expert analysis

and research in order to facilitate

the development of the best housing

for Queenslanders. Our reputation

is built on not only communicating

information to our members, but also

our stakeholder communications,

and our clear understanding of how

Queenslanders live, work and play.

We are committed to raising the profile

of our industry through co-operative

discussions with state and local

governments; a rich calendar of industry

events in relevant formats; encouraging

innovation through our annual Awards

for Excellence; and, of course, our

independent research program

that helps our members to arrive at

evidence-based business decisions.

We speak with a clear, unified and

authoritative voice on the complex

issues that affect our industry, right

across the state. We have an extensive

network of on-the-ground metropolitan

and Regional Branches, which are

actively involved with the industry and

their communities. Our 12 Regional

Branches ensure we are in tune with

local knowledge in order to advocate

for, and deliver on, the issues that

matter. You can read more about our

Regional Branches on pages 14-15.

The Board

Our elected Board of Directors

provides valuable governance

and strategic direction for the

UDIA (Qld)’s policy agenda and

activities. For details on each Board

Member, please see pages 6-9.

Committees

The UDIA (Qld) has an extensive and

consultative network of Committees

that provide feedback and advice on a

range of issues affecting the industry.

The UDIA (Qld)’s Committees keep

us in touch with the needs of our

members and the broader community.

Each Committee is made up of

volunteers from the UDIA (Qld)

membership who assist with

the UDIA (Qld)’s submissions,

correspondence and position papers,

and at times represent the UDIA

(Qld) on external committees.

2015 UDIA (Qld) Awards for Excellence winner, Austin by ARIA Property Group

Supporting and Building 2015 ANNUAL REPORT 3

CONTENTS

About the UDIA(Qld) .......................................................... 2

President’s Report............................................................. 4-5

Board Members.................................................................. 6-9

Branch Presidents........................................................... 10-11

Policy................................................................................... 12-13

Regional Branches.......................................................... 14-15

EnviroDevelopment....................................................... 16-17

Member Services/Events............................................. 18-19

2015 UDIA (Qld) Awards for Excellence....................... 21

2015 UDIA(Qld) Sponsors................................................ 22

Financial Report

• Bundaberg• Cairns• Fraser Coast• Gladstone• Gold Coast Logan• Ipswich• Mackay/Whitsunday• Moreton Bay• Rockhampton/Yeppoon• Sunshine Coast• Toowoomba• Townsville

Research Foundation......................................................... 20

Supporting and Building 2015 ANNUAL REPORT4

I look forward to 2016 and delivering on our commitment to help the industry deliver outstanding communities across the state.

In 2015 we saw Queensland’s development industry continue to build with ongoing market momentum. As an industry body we have had an incredibly successful year from advocacy, policy and research through to events and professional development.

The Institute set ambitious goals around our policy agenda to best represent our members’ needs as well as ensure we continue to raise the profile of our industry by engaging with public and private stakeholders

An overview of our achievements during 2015 includes:

Policy and Advocacy

You helped us convince the Deputy Premier to retain the Single Assessment and Referral Agency, the single State Planning Policy and to continue

the Planning Reform work of the previous government by progressing new planning legislation. You influenced the content of the Planning Bills that were introduced to Parliament in November 2015 to deliver a more efficient and effective planning system. Together we convinced half a dozen local governments to deliver amendments to the content of their new draft Planning Schemes to ensure planning controls facilitate the delivery of appropriate, diverse and affordable housing for Queenslanders. We also successfully advocated for improvements to the legislation that established Building Queensland to facilitate better infrastructure investment decisions.

Research Foundation

The UDIA (Qld) Research Foundation, presented by Construction Skills Queensland, was launched in late 2014. The Research Foundation provides members with the best independent research and analysis from across Queensland. In the first year of the UDIA (Qld) Research Foundation we delivered six major pieces of independent, original research, delivered via eight events to an audience of 635 members of our industry.

This program of research is guided by the Industry Leaders Research Group who are leaders from businesses with an interest in the health of the industry. These influential industry leaders act in an advisory capacity to guide the scope and delivery of the Research Foundation and specifically the Industry in

Focus element.

The 2015 Industry Leaders Research Group consisted of –

• Stockland, Regional Manager, David Laner

• AMEX Corporation, Director, Cameron Shephard

• Australand, General Manager, Residential Qld, Cameron Leggatt

• Investa, General Manager (Qld), Bruce Harper

• Peet, General Manager (Qld), Michael Stone

• AVJennings, State General Manager (Qld), Rodney Chadwick

• Pradella Property Ventures, Managing Director, David Pradella

• Lendlease, Regional Development Manager, Ian Murray

• Defence Housing Australia, Managing Director, Peter Howman/Jan Mason

• Pointcorp, Director, Paul Gedoun

• Wentworth Equities, Executive Chairman, Sameh Ibrahim

• The Village Retirement Group, CEO, Justin Harrison

• Excel Development Group, Managing Director, Peter Sherrie

• McNab Constructions, Managing Director, Michael McNab

• Place Design Group, Director, Chris Isles

President’s Report

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Through the Research Foundation we are working with the best researchers in the industry, and receiving input from Queensland’s industry leaders to ensure essential qualitative and quantitative research is available for the industry to make better business decisions and deliver outstanding communities.

Regional Branches

Our extensive structure of 12 Regional Branches means we are active and effective at both local and state levels. With 12 regional management committees throughout Queensland we continue to build on our position as the leading advocacy and industry body in the state to deliver on important issues. In 2015, 57 industry specific events were delivered across the regions, reaching more than 3,000 event attendees by December 2015. The most significant of these was the Planning Bills Roadshow in which 11 of the regions held an event to explain the workings of the coming Planning Act and what it meant for members and the industry. Furthermore, our committees led the way on local government reform through proactive engagement on issues in the new local Planning Schemes.

Events

In 2015 we hosted 88 events across Queensland with an audience of over 6,000. Our events covered a wide array of key industry topics from policy issues, to global trends, showstopper projects and leadership insights. With the help of some of Queensland’s property industry leaders, we delivered Professional Property Development courses to educate and upskill attendees. Importantly, through our Signature Series we celebrated the achievements of our industry’s best at the 2015 Awards for Excellence, and the

Annual Developers Conference on the Gold Coast.

EnviroDevelopment

EnviroDevelopment hit a major milestone in 2015 certifying Halcyon Glades (Halcyon) as its 100th project nationwide. Other Queensland projects also certified include: the Eco Lifestyle Lottery Home (Endeavour Foundation); The Hamilton (Shayher Group); The Landing (Defence Housing Australia); Sinnamon Village (Wesley Mission Brisbane); eco@jumrum (Jumrum Rainforest); and Parklands (Grocon).

It has been a busy year at the UDIA (Qld), but a year of tremendous success and achievement, something we’re enormously proud of. I look forward to 2016 and delivering on our commitment to help the industry deliver outstanding communities across the state.

Brett Gillan President, UDIA (Qld)

Supporting and Building 2015 ANNUAL REPORT6

Neil McAllister (MDIA) Treasurer

Neil was appointed UDIA (Qld) Treasurer in 2010. He is the Head of Property Finance at St.George Bank and a member of CPA Australia and Finsia. St.George Bank has

been a member of the UDIA (Qld) since 2001 and is a foundation partner for EnviroDevelopment. Currently, St. George is a Major Industry Partner of the UDIA (Qld).

Board Members

Brett Gillan (FDIA) President

Brett was elected President of the UDIA (Qld) in late-November 2013 after serving as the Vice President in 2012. This is Brett’s second term as President, having served from

April 2008 to July 2009. He was also Vice President from 2007 to 2008. Brett joined the UDIA Council as a Director in August 2005 and Chaired the IPA Review taskforce, UDIA (Qld) Industry Development Steering Committee in 2006 and 2007, and was a judge for the UDIA (Qld) Women in Development Excellence Awards in 2007 and 2008.

Brett is a founding Director of Axis Capital Pty Ltd and has more than 25 years’ experience in the property and development industries.

Stephen Harrison (MDIA) Vice President

Stephen was appointed Vice President of the UDIA (Qld) in 2013. Stephen was the UDIA (Qld) Gold Coast Logan Branch President

between 2010 and 2013.

He has more than 25 years’ experience in the development industry and has held key positions in both public and private sectors.

Stephen is currently the Principal of Harrison Development Group, which is responsible for the delivery of signature projects in Cairns, Coomera and Pimpama. He is also Project Director for Flinders, a 20,000-lot masterplanned community at Flagstone. He holds a Bachelor of Civil Engineering and a Master of Project Management.

Chris Isles (MDIA) Vice President

One of the founding members of the Industry Leaders Research Group, Chris was elected Vice President of the UDIA (Qld) in 2014. He is a Director of Place Design Group,

leading their National Planning Division. With more than 15 years’ experience in the planning and development industries, Chris regularly leads major consultant and development teams through the planning approval process. Chris has an excellent understanding of project feasibility, construction, and market conditions gained through his many years in the industry. Alongside providing his clients with development and planning advice on the acquisition, design, approval and sale of development sites and projects, Chris has successfully led the approval of major commercial, retail, residential and mixed-use projects. Chris was awarded the Queensland Planner of the Year Award by the Planning Institute of Australia in 2014.

Supporting and Building 2015 ANNUAL REPORT 7

David Nicholls (FDIA) Secretary

David was appointed UDIA (Qld) Secretary in 2011. He is head of HopgoodGanim Lawyers’ Planning and Environment practice, where he leads an experienced team

specialising in planning and environment advice and litigation.

David has been named as a leading environmental lawyer by Chambers Asia-Pacific and as a leading Queensland lawyer in the prestigious Doyle’s Guide to the Australian Legal Profession. David has been further commended by Best Lawyers as a Leading Planning and Environmental Law lawyer in 2014.

David is a past President of the Queensland Environmental Law Association, served as Chair of the UDIA (Qld)’s Local Government and Planning Committee from 2002 until 2011 and was made a Life Member of the UDIA (Qld) in 2015. He now serves as a Director and Secretary of the Institute. David has degrees in Arts and Law from the University of Queensland and a Master of Law from Queensland University of Technology.

Warwick Bible Director

Until May 2015

Warwick has worked as the General Manager at Metro Property Group and was responsible for the

acquisition and delivery of Metro developments.

With formal qualifications in property economics and valuation, together with an MBA from Queensland University of Technology, Warwick has more than 20 years’ property experience, with previous roles including Chief Executive Officer of Meridien and senior executive management roles with Mirvac in both New South Wales and Queensland.

Alan Buckle (FDIA) Director

Alan has been involved in the body corporate management industry and consultancy services within the development sector since 1983.

Alan has been involved with the titling and operational design and administration of a diverse and eclectic range of community title developments, from a duplex in suburban areas to a 250,000-lot tourist resort in Egypt which is still under development.

Alan is also a Fellow of UDIA (Qld), a Board Member and Fellow of Strata Communities Australia (Qld) and chairs the UDIA (Qld) Economic Development, Taxation and Property Reform Committee.

Matthew Gross (FDIA) Director

Matthew was appointed to the UDIA (Qld) Board of Directors in 2011. Matthew founded The National Property Research Co. in 1999 – a multi-disciplinary property

consultancy that has served both the private and public sectors across Australia and New Zealand. He has worked, and continues to work, on some of the largest property transactions in the country where his analytical expertise is highly regarded. This expertise has been developed across all sectors of the property industry from masterplanned residential communities, high-rise city accommodation and retirement villages, to resorts, retail and, of course, industrial and commercial property sectors.

Matthew has been involved in the housing strategies for the LNG and other resource sectors. He served as a panel member and was the MC at the 2015 UDIA (Qld) Annual Developers Conference. Matthew was the Chair of the UDIA (Qld) Annual Developers Conference Committee until he became Chair of the UDIA (Qld) EnviroDevelopment National Committee. Matthew remained a committee member of the UDIA (Qld) Annual Developers Conference Committee in 2015 and he also sat on the Queensland Treasury’s residential reference group.

Warren Harris (FDIA) Immediate Past President

Warren was UDIA (Qld) President between 2009 and 2010. He joined the UDIA (Qld) Board in April 2005. He has previously held senior executive positions at Amex

Corporation, Multiplex and Devine Limited, as well as with AVJennings.

Warren has more than 25 years’ consulting and development experience. He was awarded fellow membership status of the Institute in 2004 and has participated on various UDIA (Qld) committees for the past ten years.

In addition to his position on the Board of the UDIA (Qld), Warwick is also a Fellow of the Financial Services Institute of Australasia.

Supporting and Building 2015 ANNUAL REPORT8

Brett McDonald Director

Until May 2015

Brett’s career within the development and construction industries has spanned some 25

years and includes positions within Australia, the United Arab Emirates, United Kingdom and Indonesia.

Brett’s professional qualifications include a Bachelor of Technology Surveying and Associated Diploma in Civil Engineering. He is also a member and graduate of the Australian Institute of Company Directors.

These qualifications, coupled with years of experience within the industry, allow Brett to communicate with people at all levels in order to set and achieve goals.

Brett is a Fellow of the UDIA (Qld) and has held positions with the 2009 National Congress Committee, Board of Management for EnviroDevelopment, IPA Reform Committee and Regional Review Committee.

Michael McNab Director

Appointed June 2015

Michael is the Managing Director and founder of Queensland construction company McNab, and

is a foundation member of the UDIA Industry Leaders Research Group.

With over 30 years’ experience in the property, development and construction industry, Michael has successfully grown McNab into one of Queensland’s leading privately owned construction companies. McNab is fortunate to work with some of Queensland’s largest development companies, and from this gains a unique and up-to-date insight on the current challenges facing our industry.

Michael is a keen advocate for the sustainable growth of the development industry, and sees UDIA (Qld) as a key industry advocate within all levels of government.

David Laner Director

David is the Regional Manager for the Greater Brisbane and Gold Coast residential business for Stockland in Queensland. Since joining Stockland in 2007, David has

held several senior positions within both the residential and retirement living businesses.

Prior to joining Stockland, David consulted for the development and construction industries, as well as state and local governments via his own business and through a national consultancy group. The earlier part of David’s career was spent with Lendlease, where David worked on a range of office, industrial, retail, infrastructure and residential projects. David is also one of the founding members of the Industry Leaders Research Group.

David graduated with an Honours Degree in Civil Engineering from Queensland University of Technology in 1996, and is a member of the Institute of Engineers Australia; Australian Institute of Project Management; and is a qualified real estate agent. David has been a member of the UDIA (Qld) since 2008 and was elected to the Board of Directors in April 2013.

Brent Hailey (FDIA) Director

Brent joined the UDIA (Qld) Board of Directors in August 2002 and was elected Vice President in April 2004. He went on to serve as President of UDIA (Qld) from 2006 to 2008.

His involvement with the UDIA (Qld) commenced in 1985 when he was a member of a sub-committee reviewing new Brisbane City Council Subdivision Guidelines and Standards. Brent has served on several UDIA (Qld) committees, including the Brisbane City Council Sub-Committee and the Queensland Developers Conference Committee; chaired the Industry Development Steering Committee and the SEQ Regional Plan Task Force in 2004/2005 and 2008/2009; and has been an Awards for Excellence judge since 2008. Brent is a Director of the UDIA National Council and was made a Life Member of the UDIA (Qld) in November 2013.

Brent is Managing Director of Orchard Property Group and a Non-Executive Director of Honeycombes Property Group. His prior roles include Chief Executive Officer and Director of The BMD Group and Villa World Limited and Chief Operating Officer of Devine Limited.

Michael Loney Director

Michael is a Joint Managing Director of Ausbuild. He began working with Ausbuild in 1999 where he worked his way up the ranks with a primary focus on financing, funds

management, and development management.

Michael holds a Bachelor of Commerce, Financial Planning, Investments, and Professional Accounting with extensive experience in housing, commercial development, and finance. In 2015 Michael took over from Matthew Gross as Chair of the UDIA (Qld) Annual Developers Conference Committee.

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Paul Melville Director

Appointed June 2015

Paul is currently a joint Managing Director of Halcyon Management Pty Ltd and Chairman of the UDIA (Qld)

Seniors Living Committee.

Paul graduated from QIT (now QUT) with a degree in law. With more than 20 years’ experience in the legal sector, Paul has also been involvlend keaseed in the retirement industry and manufactured home estates for over 18 years.

Halcyon commenced in July 2003 with the goal of changing the face of retirement living through delivery of innovative housing solutions for lifestyle oriented over 50s and has been a UDIA (Qld) member since 2006.

Patrice Sherrie Director Patrice is a Director of Bentley’s Chartered Accountants – one of the few remaining wholly Queensland owned and managed mid-tier

accounting firms. Her professional career has spanned chartered accounting and commerce roles across the finance and property sectors, including as CEO of an unlisted mezzanine finance company, and as a senior executive with a boutique investment bank. Patrice also worked for 13 years with two of the ‘Big Four’ accounting firms in Australia and Papua New Guinea in corporate finance and business services areas.

In her current role as Director with Bentleys, Patrice works closely with clients to offer specialist advisory for property related matters.

Patrice is a Fellow of the Institute of Chartered Accountants in Australia and holds a number of board and committee positions – including as Treasurer for Women’s College UQ and as Trustee for the Lord Mayor’s Charitable Trust. She joined the UDIA (Qld) Board of Directors in December 2013 and Chaired the UDIA (Qld) Awards for Excellence Committee from February 2014 until March 2016.

Ian Murray Director

Ian is the Regional Development Manager, Springfield Lakes, for Lendlease. He has worked in the development industry for over 20 years with several corporate

developers, including Australand, Urban Pacific and AVJennings in both Queensland and South Australia. Prior to this he was a consulting engineer providing service to the development industry for nearly a decade.

Ian is one of the founding member of the Industry Leaders Research Group and has been a UDIA member in both Queensland and South Australia. He served on the UDIA (Qld) Brisbane City Council Committee for several years and chairs The Membership Committee.

Supporting and Building 2015 ANNUAL REPORT10

Andrew Bradford Ipswich Branch President

Andrew draws on more than 12 years’ experience in the planning and delivery of residential communities and commercial

development projects in Queensland. His industry experience includes his current role as Senior Development Manager & Acquisition Manager at Metro Property Development and previous roles for various developers, both public and private, including Devine Limited and Australand. Throughout his career, Andrew has had a long involvement with the UDIA (Qld), sitting as a committee member for the UDIA (Qld) Ipswich Branch since 2007.

Adam Gowlett (FDIA) Cairns Branch President

With more than 25 years’ project management experience in the development industry, both in the public and private sectors, Adam has been an active UDIA (Qld) member

in both Western Australia and Queensland. Adam held the role of UDIA (Qld) Cairns Branch President from 2008 until 2011, and again from 2013. Adam now works for Kenfrost 1987 Pty Ltd, Cairns’s largest developer, civil construction company and residential-home builder.

Andrew Allen (FDIA) Gladstone Branch President

Andrew is the owner of one of Gladstone’s largest real estate businesses, Ray White (Gladstone) and Ray White Commercial (Gladstone). Andrew has been

involved with the UDIA (Qld) as a committee member since 2007. In 2013, he was involved in reforming the UDIA (Qld) Gladstone Branch. Andrew’s interests lie in small lot sub-divisions and commercial and industrial developments.

Branch PresidentsFor the 2015 calendar year

Keith Cairns Moreton Bay Branch President

Keith has had more than 35 years’ experience in residential development, with AVJennings, Australand and Peet Limited. He has used that experience to help the

Moreton Bay region’s development industry as current President of the Moreton Bay Branch of the UDIA (Qld). Holding a Graduate Diploma in Applied Finance, Keith started his professional career at AVJennings as a Building Administration Manager.

Gideon Genade Rockhampton Branch President

Gideon Genade has extensive planning experience from private practice and local and state government. Gideon started his town planning career in Australia,

following several years working as a town planner in South Africa, working as planning officer for Rockhampton City Council. Following this role, Gideon accepted a Senior Town Planner role with Flinders Group to start-up a regional office in Rockhampton. From here, Gideon grew a client base in Central Queensland and has since facilitated the needs of this client base through a range of successfully managed planning projects and applications and in 2015 he moved to Reel Planning CQ where he currently resides as the Manager and Principal Planner.

John Harris (MDIA) Mackay/Whitsunday Branch President

Until April 2015

John Harris was elected President of the UDIA (Qld) Mackay/

Whitsunday Branch in June 2012. He is sole Director of specialist development management consultancy Link Project Solutions focusing on regional Queensland and the Greater Brisbane area and has more than 20 years’ diverse experience in the development sector in both Australia and England. He is in a unique position of having operated on both developer and contractor sides of the development and construction industries and therefore has an unrivalled understanding of the entire development process.

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Andrew Stevens (MDIA) Sunshine Coast Branch President

Andrew is a committed and involved industry leader who actively participates and contributes to policymaking necessary for facilitating appropriate and dynamic

development. His commitment to industry service was publicly acknowledged in 2011 when he was awarded Sunshine Coast Business Person of the Year. That same year he was also appointed a Fellow of the UDIA (Qld). Andrew was elected as Branch President of the UDIA (Qld) Sunshine Coast in 2012. Andrew’s experience includes working as Managing Director of Project Urban and Managing Director of town planning and surveying firm, KHA Development Managers.

Dallas Hunter (MDIA) Toowoomba Branch President

Dallas Hunter is the Development Manager of building and civil contractor FK Gardner and Sons, which is a Toowoomba-based family-owned company, with offices

in Toowoomba, Brisbane, Cairns, Roma and Mackay. He has been the President of the UDIA (Qld) Toowoomba Branch since 2010. Dallas is on the Board of Toowoomba and Surat Basin Enterprises, the Western Downs Housing Trust Advisory Board and the Darling Downs Regional Planning Reference Group.

Andrew Wallace Townsville Branch President

Andrew is the Director of Northern Consulting Engineers, a North Queensland owned and operated company that specialises in civil and structural engineering

and extends from initial planning advice through to project management, detailed design, documentation, construction supervision and final certifications. Andrew has diverse civil engineering experience including master planning, project management, design, and supervision and construction roles in both private enterprise and public sector.

Mark McGrath Mackay/Whitsunday Branch President

From May 2015

Mark has been a part of Mackay’s legal industry since 1994. He has

been admitted as a solicitor since January 1996 and has been a partner of McKays Solicitors since July 2003, where he is now the Managing Director. Mark’s achievements and qualifications include completing a Master of Law majoring in commercial law from the Queensland University of Technology and having the Archbishop of Canterbury confer on him the title “Notary Public” for Queensland on 25 August 2010. Mark was appointed the role of Branch President for the Mackay Whitsunday region in 2015.

David Ransom (FUDIA) Gold Coast/Logan Branch President

Until April 2015

David draws on more than 20 years’ experience as a town planner in

his role as a Gold Coast Principal and former Director of Humphreys Reynolds Perkins, Gold Coast. David was previously employed at Gold Coast City Council as a senior town planner in both a strategic planning and statutory planning capacity.

Bill Moorhead (MDIA) Bundaberg Branch President

Bill Moorhead has more than 30 years’ experience in the property development industry. Bill is currently the Managing Director of his own company Multilow Pty Ltd,

where he has been responsible for a range of estates in the Bundaberg Region, including Parklands Grange, Headlands and Paddington Grove. Bill is a foundation member of the Surveying and Spatial Sciences Institute, a Fellow of the UDIA (Qld) and a Director on the Board of the Gladstone Ports Corporation. He holds an Honours Degree in Surveying.

Glen Winney Fraser Coast President

As a resident of Hervey Bay for more than 30 years, Glen has a vast knowledge of the region. His work history includes roles in the building industry, as well as real

estate, development and project management. Glen’s major strengths are his local knowledge, negotiating and networking skills and expertise of the Fraser Coast property market. Glen’s business philosophy is to provide a one-stop shop for all commercial property needs, providing real estate, construction, project management and development services to clients and syndicates. He was a former Director on the UDIA (Qld) Board as well as an accredited member of the REIQ, Graduate Member of Company Directors of Australia, and Member of the QMBA.

Finn Jones Gold Coast/Logan Branch President

From May 2015

Finn has over 20 years’ experience across urban design, master

planning, vision and city economic growth policy, and development. Previously Managing and Design Director of Space Cubed Architecture Studio, Gold Coast City’s Principal Urban Designer and Architect, Chair of the Australian Institute of Architects Gold Coast Region for over eight years, and Australian Institute of Architects Chapter Councillor, Finn’s industry experience and relationships have enabled him to lead and deliver crucial urban and city shaping projects.

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Policy

Over the last twelve months, the UDIA (Qld) continued to advocate to all levels of government to ensure the policy framework allows the industry to build diverse and affordable housing for all Queenslanders. UDIA (Qld)’s Research Foundation has now formed an important component of UDIA (Qld)’s policy advocacy agenda, providing both qualitative and quantitative data to inform our policy position and provide much needed industry wide evidence-based research. In addition to the findings of the Research Foundation program, policy activity is strongly driven by the work of several UDIA (Qld) policy committees and the input of our twelve Regional Branches. The input of our Regional Branches provides important regional context and assists in road testing a number of federal and state government initiatives across regional centres with diverse market and climatic conditions. It allows UDIA (Qld) to deliver a strong industry wide voice, ensuring we represent a unified front when representing our industry.In 2015 a significant shift in focus occured, with the election of a new state government. UDIA (Qld) undertook an extensive engagement program with the new government to reaffirm the importance of a strong program of infrastructure investment, land supply, regional planning priorities and planning reforms. As a result, we continued to be afforded excellent access to the state government and

were directly engaged in various consultation processes, including various revisions to the new Planning Act which resulted in the introduction of the Planning Bills into Parliament in late 2015.In 2015 we delivered significant results for our members, with notable highlights including:

• Our successful advocacy resulting in the introduction of new efficient and effective planning legislation into the Queensland Parliament. The Institute worked with a new state government to ensure that there was a strong ongoing commitment to planning reform which saw the introduction of the Planning Bills 2015 into Parliament late in the year.

• Retention of other key aspects of the government’s planning reform policy agenda including the single State Planning Policy and the single State Assessment and Referral Agency, providing certainty to the industry.

• Continued engagement across local governments to ensure smooth transition to new local planning schemes and close engagement with several councils including Moreton Bay and Redland City to provide detailed feedback on draft new schemes.

• Engagement with the Department of Environment and Heritage Protection on Erosion Prone Areas

and Coastal Management Districts to ensure new mapping is consistent and accurate and a process for contesting mapping overlays is clear and efficient.

• Ongoing engagement with the Department of Infrastructure, Local Government and Planning on the direction of the review of the South-East Queensland Regional Plan.

A summary of key activities undertaken by the UDIA (Qld) during 2015 includes:

Key Advocacy

• The launch of UDIA (Qld)’s advocacy agenda in 2015 – Building Better Communities formed a key aspect of our engagement with the new government. Underpinned by three policies including increased land supply and infrastructure, fair taxes and charges and better planning, the agenda shaped our activities for 2015.

• Consulting widely to ensure member needs were included in a pre-2015/16 Budget submission – Urban Development = Jobs – including five critical actions to create jobs and deliver thriving communities: (i) pass the new Planning Bills and allocate implementation funding to support transition, (ii) fast track the production of a funded

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State Infrastructure Plan and increase investment in catalyst urban infrastructure, (iii) accelerate the sale of surplus government land and reinvest the proceeds into infrastructure, (iv) provide financial rewards to local governments to innovate and reform planning and development processes, (v) do not increase taxes nor charges and retain the Great Start Grant and existing tax concessions.

• Regular and detailed consultation and engagement on the topic of planning reform, including participating in regular Queensland Government workshops and submissions on draft policies and Bills. Our advocacy efforts in these forums culminated in a decision to introduce into Parliament the Planning Bills 2015 to replace the Sustainable Planning Act.

• Successfully bringing the Queensland Government’s attention to industry concerns in relation to coastal management mapping. These advocacy efforts culminated in amendments to the mapping, which saw a correction in areas which had been previously excluded from the coastal management district prior to changes made under the previous government.

Major Policy Activities

The UDIA (Qld) provided input into, and submissions on:• Draft Planning Bill and

the draft Planning and Environment Court Bill and supporting instruments.

• Several government planning schemes including for Moreton Bay and Redlands.

• Draft City Centre Neighbourhood Plan.

• QUT Body Corporate Governance Issues.

• Submission on Planning and Development Bills 2015 including Planning and Development (Planning and Prosperity) Bill 2015, the Planning and Development (Planning Court) Bill 2015, and the Planning and Development (Planning and Prosperity - Consequential Amendments) and Other Legislation Amendment Bill 2015.

• Building Queensland Bill 2015.

• Draft State Infrastructure Plan.

• Better Planning for Queensland Directions Paper.

• Coast Management Districts – abolishment of the existing Coastal Management District and declaration of a new Coastal Management District.

• Draft State Planning Policy Amendments.

The UDIA (Qld) was actively involved in various reference and advisory groups as well as informal advocacy activities in relation to the policy changes and reviews identified above.

In addition, UDIA (Qld) branches were involved in numerous local government advisory and reference groups throughout Queensland. The UDIA (Qld) also provided input and assistance with UDIA national policy advocacy, including the production of the annual State of the Land Report and submissions.

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Regional Branches

Across the state, a network of 12 UDIA (Qld) Regional Branches allows us to advocate for and represent our members, no matter where they are based. The structure of the Regional Branches enables the Institute to deliver a strong regional voice in all our activities and ensures we stand with a unified voice when representing our industry.

In 2015, 57 industry specific events were delivered across 12 Regional Branches, reaching more than 3,000 event attendees by December 2015. The most significant of these was the Planning Bills Roadshow in which 11 of the regions held an event to explain the workings of the coming Planning Act and what it meant for members and the industry.

With the rollout of the new draft Planning Schemes in several councils throughout Queensland, Branches delivered submission documents in order to provide feedback on certain aspects of each regional scheme. Every Regional Branch submission was acknowledged by State Government with changes being made based on the recommendations.

Relations between the Branches and government on a local and state level have been strong throughout the year with Branches initiating dialogue and establishing a relationship with newly elected members of State Parliament. Branches including Bundaberg, Cairns, Fraser

Coast, Mackay and Moreton Bay have either successfully maintained existing or have signed new Memorandums of Understanding with their local council. Dialogue between councils and the Branches have remained constant by means of regularly scheduled meetings, lodged submissions and engagement with key decision makers.

Bundaberg Branch

The Bundaberg Branch throughout the year has continued a strong program of advocacy, culminating in State Government announcing funding for a new gas pipeline and State Government co-investment in the Rubyanna Waste Water Treatment Plant that would act as an important catalyst for development.

Cairns Branch

The Cairns Branch continued throughout the year to hold regular meetings with the Far North Queensland Regional Organisation of Councils. Through these meetings was the minimisation of the use of council resources by reaching the closing stages of self-assessment of low risk operations. There was also strong advocacy to improve processes and policies at Ergon Energy which included being a signatory to the Alliance of Electricity Consumers’ Submission on Ergon Energy’s Regulatory Proposal 2015-2020.

Fraser Coast Branch

The Fraser Coast Branch is proud of work conducted to improve the standing of the UDIA (Qld) in the region as well as advocating for the expansion and improvement to the design of the Hervey Bay Housing Affordability Incentive Scheme (Building Better Regional Cities).

Gladstone Branch

The Gladstone Branch’s submission on the new draft Planning Scheme was considered to be a strong contribution to the process and resulted in achieving a number of positive amendments to the draft.

Gold Coast Logan Branch

The Gold Coast Logan Branch continued strong advocacy for state investment in local infrastructure projects and provided influential submissions on draft local Planning Schemes (both Gold Coast and Logan City), resulting in numerous positive changes for the industry. There was proactive engagement and consultation from the Branch with City of Gold Coast’s Director of Planning and Environment. This was primarily in relation to industry ideas and prevailing or emerging trends and needs, and the progress of the City of Gold Coast on the draft City Plan.

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Ipswich Branch

The Ipswich Branch remained actively involved in major planning reform in the region. The Branch discussed key industry issues including infrastructure charges, environmental offsets, and property and land sales red tape with decision makers. The Branch held a number of successful events which included hosting the 2015 Ipswich Development Showcase and a leadership lunch with Shadow Minister for Infrastructure, Planning, Small Business, Employment and Trade, Tim Nicholls MP.

Mackay/Whitsunday Branch

The Mackay Whitsunday Branch successfully delivered formal and informal feedback to Mackay Regional Council on rating categories, development bonding arrangements and amendments to the local Planning Scheme. There was also strong advocacy for improved processes and policies at Ergon Energy and for State Government investment in and declaration of a Priority Development Area at Rosella.

Moreton Bay Branch

The Moreton Bay Branch provided comment and input on a number of industry-related topics during 2015, including the new draft Planning Scheme, the draft Infrastructure Charges Resolution, the UDIA (Qld) submission on the State Infrastructure Plan and the release of the new Coastal Management Districts. The Branch also met regularly with Unitywater to discuss operational matters and future servicing requirements for the region.

Rockhampton/Yeppoon Branch

A number of amendments were submitted by the Rockhampton Yeppoon Branch to the draft Rockhampton Regional Planning Scheme, which were designed to achieve a number of improvements that would benefit UDIA (Qld) members and the industry in the region. The Branch also provided comment and input for the UDIA (Qld) submission on the State Infrastructure Plan.

Sunshine Coast Branch

The Sunshine Coast Branch’s Committee was particularly busy in 2015, after being reinvigorated with an increase developers joining the committee. Submissions were prepared and lodged on a range of legislative and operational matters including the Amendments, Regional Plan Updates, Coastal Management Plan and other Environmental Vegetation Management Reviews. The Committee also worked closely with council and Unitywater to improve matters such as approval time frames, survey plan sealing and operational works requirements.

Toowoomba Branch

The Toowoomba Branch provided valuable input into the engineering standards review to ensure standards were fit for purpose, and worked with council on the design and implementation of a new Infrastructure Charges Bonding scheme. The Branch also successfully hosted consistent monthly members’ breakfast events to ensure members were up to date with the latest topics, projects and industry issues occurring within Toowoomba.

Townsville Branch

The Townsville Branch spent the year working towards positive outcomes for the local development industry by lodging a number of submissions for various local initiatives. Submissions were prepared in the support of the Townsville Airport Upgrade Project, the Townsville Waterfront PDA project, revised operational works fees and newly adopted infrastructure charges.

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ENVIRODEVELOPMENT

IN QUEENSLAND

2015 was an exciting year for EnviroDevelopment, seeing the program achieve important milestones and continuing to expand into new markets while maintaining a diversified project typology.

A total of eight projects were certified by the Queensland EnviroDevelopment office last year, including the first project to be certified in Far North Queensland: eco@jumrum, a

rural-residential subdivision just west of Cairns. Other certified projects ranged from a single detached dwelling on the Sunshine Coast (Endeavour Foundation’s Eco-Lottery Prize Home), to a greenfield residential subdivision in New South Wales (DHA’s Wirraway), to a mixed-use infill project within Northshore Hamilton (Shayher Group’s The Hamilton).

The program reached the coveted 100th project milestone in 2015 with the certification of Halcyon Glades, a senior’s living lifestyle community in Caboolture, Queensland. It was developer Halcyon’s second project to be certified, highlighting a significant nationwide trend of developers seeking to apply EnviroDevelopment

Parklands Project, Southport by Grocon

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certification to multiple projects in their portfolio. This confirms the value of EnviroDevelopment as an important stakeholder communication brand, in addition to its role as a sustainability rating tool.

EnviroDevelopment is gaining popularity in the seniors living and aged care sectors, certifying two additional projects in these categories. The EnviroDevelopment brand and certification criteria aligns with developers, care providers, and residents of these projects and provides a rigorous process to design and rate important attributes related to occupant comfort. EnviroDevelopment also requires significant consideration of the lifecycle and maintenance costs associated with various project components.

Another exciting and iconic project to be certified last year was the Parklands Project by Grocon – the legacy of the Gold Coast Commonwealth Games Athletes’ Village. With over 1,200 apartments and townhouses and seven hectares of engaging public open space, the project will transform into a high-profile sustainable urban oasis.

EnviroDevelopment certified projects were recognised as industry-leading developments at UDIA Awards for Excellence across the nation, winning

awards in Queensland (Stockland’s North Shore) and the Northern Territory (DHA’s Breezes Muirhead), and placing as finalists in New South Wales (DHA’s AE2 and Crimson Hill). Richard Noble’s Cygnia Cove, a residential subdivision located in Western Australia took home two awards at UDIA National Awards in March 2015.

The EnviroDevelopment Professional program continued to build capacity in consultants that support the development industry, with 54 professionals attending training courses in Brisbane and Melbourne.

The year ahead for EnviroDevelopment is shaping up to be a busy time, with a spike in registrations across a broad range of development types in Queensland, including masterplanned communities, seniors living and aged care communities.

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MEMBER SERVICES /

EVENTS

Our 2015 program of events was designed to enhance our members’ businesses by providing up-to-the-minute knowledge in formats that cultivate relationships and grow industry contacts. Our events cover a wide range of topics and seek to inspire, nurture and grow our industry’s sense of community.

Thought Leadership Series

Leadership Lunches

Continuing the tradition of our respected lunch events, the Leadership Lunch Series gives our members a front row seat to hear

from leaders on significant industry developments.

The Hon Jackie Trad MP, Deputy Premier addressed our members in the latter part of 2015. Our host, news personality, Madonna King got up close and personal with the Deputy Premier following the release of new draft planning laws and the establishment of statutory authority Building Queensland.

Mayors Leading Urban Growth Breakfast

This annual event hosted by ABC’s Chris O’Brien enabled our members to

meaningfully engage with the decision makers of local government, hearing from mayors of key growth regions about their vision and strategic direction of their region and gained an insight into development priorities for each region, an update on the Planning Scheme progress and consultation.

Ten mayors participated in the event, including Cr Graham Quirk (Lord Mayor of Brisbane City Council), Cr Karen Williams (Mayor of Redland City Council), Cr Mark Jamieson (Mayor of Sunshine Coast Regional Council), Cr

2015

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Pam Parker (Mayor of Logan City Council), Cr Paul Pisasale (Mayor of Ipswich City Council), Cr Terry James on behalf of Mayor Bob Manning (Cairns Regional Council) Cr Gerard O’Connell (Fraser Coast Regional Council) Cr Jenny Hill (Townsville City Council) Cr Dave Perkins on behalf of Mayor Deirdre Comerford (Mackay Regional Council) and Cr Allan Sutherland (Moreton Bay Regional Council).

Major Developer Luncheons

Throughout the year the UDIA (Qld) holds high-profile boardroom-style luncheons that are attended exclusively by up to 30 of the state’s most senior and influential property leaders. These invitation only events provide a forum in which industry issues are discussed freely in an environment honouring the Chatham House Rule. Attendees were provided the opportunity to discuss industry topics with esteemed guests such as the Deputy Premier of Queensland, The Hon Jackie Trad MP; Deputy Director General for the Department of State Development Infrastructure and Planning Greg Chemello; Lord Mayor Graham Quirk; Reserve Bank of Australia’s Deputy Governor Philip Lowe; Minister for Environment and Heritage Protection and Minister for National Parks and the Great Barrier Reef, The Hon Steven Miles MP; Treasurer and Minister for Employment and Industrial Relations and Minister for

Aboriginal and Torres Strait Islander Partnerships, The Hon Curtis Pitt MP; Shadow Minister for Infrastructure, Planning, Small Business, Employment and Trade, Mr Tim Nicholls MP; Minister for Main Roads, Road Safety and Ports, and Minister for Energy and Water Supply The Hon Mark Bailey MP.

Knowledge Series

Spotlight On

In response to our members needs for events that inform, educate and elevate the industry, the Spotlight On series of events was created. In 2015, Spotlight On topics included an update on tax reform, coastal planning and the politics of planning.

Heads Up

Following on from the success of the Spotlight On format, the Heads Up series of events was created. These events draw attention to opportunities available to the industry. Events delivered included ‘Now Trending – Global Forces Shaping Development’ which focused on how we are changing the way we live, work, eat, shop, stay and play from a developer/places perspective and ‘Development Showcase’, where development industry leaders showcased and discussed the drivers, challenges and future plans behind their new developments in Brisbane and surrounds.

High Density Development winnerAustin by ARIA Property Group,

Sponsored by Archers

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This program of research is guided by the Industry Leaders Research Group who are leaders from businesses with an interest in the health of the industry. These influential industry leaders act in an advisory capacity to guide the scope and delivery of the Research Foundation and specifically the Industry in Focus element.

The 2015 Industry Leaders Research Group consisted of –

• Stockland, Regional Manager, David Laner

• AMEX Corporation, Director, Cameron Shephard

• Australand, General Manager, Residential Qld, Cameron Leggatt

• Investa, General Manager (Qld), Bruce Harper

• Peet, General Manager (Qld), Michael Stone

• AVJennings, State General Manager (Qld), Rodney Chadwick

• Pradella Property Ventures, Managing Director, David Pradella

• Lendlease, Regional Development Manager, Ian Murray

• Defence Housing Australia, Managing Director, Peter Howman/Jan Mason

• Pointcorp, Director, Paul Gedoun

• Wentworth Equities, Executive Chairman, Sameh Ibrahim

• The Village Retirement Group, CEO, Justin Harrison

• Excel Development Group, Managing Director, Peter Sherrie

• McNab Constructions, Managing Director, Michael McNab

• Place Design Group, Director, Chris Isles

Through the Research Foundation we are working with the best researchers in the industry, and receiving input from Queensland’s industry leaders to ensure essential information is available for the industry to make better business decisions and deliver outstanding communities.

The UDIA (Qld) Research Foundation, presented by Construction Skills Queensland, was launched in late 2014. The Research Foundation provides members with the best independent research and analysis from across Queensland. In the first year of the UDIA (Qld) Research Foundation we delivered six major pieces of independent, original research, delivered via eight events to an audience of 635 members of our industry.

In 2015, our program of research included four elements including:

1. The Industry Insights Report, powered by The National Property Research Company which provides local snapshots of the industry across Queensland.

2. The State of the Market Report, powered by SGS Economics & Planning which explores housing supply and demand trends, drivers and policy issues.

3. The New Home Buyers’ Market Outlook, which examines consumer interest in newly built homes across Queensland.

4. The UDIA (Qld)’s Industry in Focus, which examines opportunities in Queensland’s residential market.

Research Foundation

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UDIA (QLD) 2015

AWARDS FOR EXCELLENCE

1. Urban RenewalSponsored by the Queensland Department of State Development, Infrastructure & Planning

Winner: Circa Nundah Village by Arkhefield

2. Affordable HousingSponsored by the Queensland Department of State Development, Infrastructure & Planning

Winner: Caggara House by BHC Creating Liveable Communities & Arkhefield

3. Consultants’ ExcellenceSponsored by Cedar Woods

Winner: Link Portside Wharf by Bornhorst & Ward, TVS Architects and Fire Check Consultants

4. Environmental Excellence Sponsored by ARIA Property Group

Winner: Astonbrook Estate by Wolter Consulting Group

5. High Density DevelopmentSponsored by Archers Strata Professional

Winner: Austin by ARIA Property Group

Winner: The James Teneriffe by Cavcorp Qld Pty Ltd

6. Masterplanned DevelopmentSponsored by Ray White Special Projects (Queensland)

Winner: North Shore by Stockland

7. Medium Density Development Sponsored by Ernst Body Corporate Management Group

Winner: CityVillage, Terrace Homes by Robina Group

8. Wildcard AwardSponsored by Construction Skills Queensland

Winner: V2i Realtime by The V2i Group

9. Seniors’ LivingSponsored by HoldenCAPITAL

Winner: Seachange Village Arundel by Pradella Property Ventures

10. Retail, Commercial and Public UseSponsored by Arnold Development Consultants

Winner: Fish Lane, Austin by ARIA Property Group

11. Marketing ExcellenceSponsored by Place Projects

Winner: Abian by Sundland Group

12. Residential SubdivisionSponsored by Austral Bricks

Winner: Sunshine Cove by Chardon Development Group

13. The UDIA (Qld) President’s AwardSponsored by RPSWinner: Austin by ARIA Property Group

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2015 UDIA (Qld) Sponsors Principal Partner

Major Industry Partners• HopgoodGanim• Austral Bricks• St.George Bank• Archers• SGS Economics & Planning• The National Property Re

search Co.

Institute Partners• Ray White Special Projects

(Qld)• Landscape Solutions• Deloitte Real Estate

Advisory• Queensland Government• Colin Biggers & Paisley

Lawyers• Arkhefield• Ergon Energy

Research FoundationPartners

Major Research Foundation Partner• Construction Skills

QueenslandResearch Partners• SGS Economics & Planning• The National Property

Research Co.

Industry Leaders Research Group• Stockland• Amex Corporation• Australand• Investa• Peet• AV Jennings• Pradella Property Ventures• Lendlease

• Defence Housing Australia• Pointcorp Development• Wentworth Equities• The Village Retirement

Group• Excel Development Group• McNab Construction• Place Design Group

EnviroDevelopmentPartnersExclusive Partner• Calibre Consulting

Regional QLD Partner• Ergon Energy

UDIA (Qld) Awards ForExcellence Partners• Ray White Special Projects

(Qld)• Austral Bricks• ARIA Property Group• RPS• Archers• Queensland Government• Place Projects• Ernst Body Corporate

Management• Construction Skills

Queensland• Holden Capital• Arnold Development

Consultants• Colin Biggers & Paisley

Lawyers• Cedar Woods Properties

UDIA(Qld) Developers ConferencePartnersNaming Rights Partner• Calibre ConsultingPartners• HopgoodGanim• Archers• NBN• Gold Coast City Council• James Hardie• PPS Tailored Furniture• St George Bank• Arnold Development

Consultants• SSKB• Orbit Solutions• SMEC Urban

Exhibitors• Cardno• HopgoodGanim• Landscape Solutions• Allroads• SMEC Urban• Ergon Energy• Queensland Government• CSR Hebel• APA Group• Dalton Consulting

Engineers• Meter2cash• Aerial Advantage• Arnold Development

Consultants• SMEG• EnviroDevelopment

Regional Branch Partners• SMEC• Bennett & Bennett

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Urban Development Institute of Australia (Queensland)ACN 010 007 084

Financial Report31 December 2015

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Financial Report

31 DECEMBER 2015

Urban Development Institute of Australia (Queensland) ACN 010 007 084

Directors’ Report................................................................. 3

Auditor’s Independence Declaration ........................ 7

Financial StatementsStatement of Comprehensive Income.............................. 8 Statement of Financial Position........................................... 9Statement of Changes in Equity........................................ 10 Statement of Cash Flows........................................................ 11Notes to the Financial Statements.................................... 12

Directors’ Declaration..................................................... 20

Independent Audit Report............................................ 21

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Directors’ Report The Board of Directors’ present their report on the company for the year ended 31 December 2015.

Principal ActivitiesThe principal activities of the company during the financial year were advocacy, knowledge sharing and industry leadership for the urban development industry in Queensland, with the focus on creating the best possible outcomes for Queensland Communities. No other significant change in the nature of these activities occurred during the year.

Review of OperationsThe surplus of the company for the financial year amounted to $133,055. This positive result was achieved due to management taking the following steps to reduce the financial impact of the decision to move office premises in 2015, and the impact of the change of government at a State level on events held in the first half of the financial year:

a) to remove all non-essential expenditure;

b) set additional revenue targets in the second half of 2015 with the aim of delivering a profit at year end; and

c) securing a lease incentive agreement to help offset the costs of moving premises.

The surplus delivered allows for the offsetting of some of the losses experienced by the UDIA (Qld) during the downturn in the industry in preceding years.

StrategiesTo achieve its objective the company has adopted the following strategies:-

1. Continuing to place our members at the centre of our organisation

2. Delivering services of value to our Members and to our Stakeholders

3. Demonstrate leadership to our Members by delivering proactive policy advocacy agenda

4. Delivery of qualitative and quantitative Research to assist our Members with their decision making in relation to business direction and strategies

5. Operating a commercial and sustainable business

Key Performance MeasuresThe company measures its own performance through the use of both quantitative and qualitative benchmarks. These benchmarks are used by the directors to assess the financial sustainability of the company and whether the company’s short term and long term objectives are being achieved:

Quantitative

1. Financial KPI’s are measured against a budget developed by the individual performance centres

2. KPI’s

a. Net Profit

b. Membership retention and renewal in addition to attracting new members

c. Events to achieve at least breakeven previous to any associated sponsorship

d. All other departments revenue and costing is measured against budget objectives

Qualitative

a) Membership feedback is used to refine the activities and strategic direction of the organisation

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Information on Directors

Director Qualifications Special Responsibilities

Brett Gillan MBA; B Eng (Hons); BSc (Hons) President

Stephen Harrison B Eng (Civil); MPM Vice President

Chris Isles BRTP (Hons); MPIA; MDIA Vice President

Neil McAllister CPA; FFIN; MDIA; BBus (Accy) Treasurer

David Nicholls BA; LLB; LLM; Notary Public; FDIA Secretary

Warren Harris B AppSc (LAP); GDURP; MPIA; FDIA Immediate Past President

Warwick Bible B Bus (PropEc); Grad Dip App Fin; MBA; Fellow FINSIA Director(resigned 27 May 2015)

Alan Buckle BBus; FDIA; FSCA Director

Matthew Gross BA (Geog, Soc); MBP; FDIA Director

Brent Hailey BEng; Grad Dip Civ & Mun Eng; FIE Aust; RPEQ LGE (Qld); MCCE; FAICD; FDIA

Director

David Laner BEng; MAIPM; MIEAust Director

Michael Loney BCom Fin Plan Inv & Prof Acc Director

Brett McDonald BT.Suv; ADEng; Cert IV Blding & Const.; GAICD; FDIA Director(resigned 27 May 2015)

Michael McNab Director(appointed 27 May 2015)

Paul Melville LLB Director(appointed 27 May 2015)

Ian Murray BEng; Grad Dip Pman; FDIA Director

Patrice Sherrie FCA; GAICD; BBus Director

Significant Changes in the State of Affairs

No significant changes in the company’s state of affairs occurred during the financial year.

The names of the Directors in office at any time during or since the end of the year and their qualifications and special responsibilities are:

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Meetings of the Directors

Name Meetings Attended Meetings Held Whilst Director

Brett Gillan * 9 10

Stephen Harrison 9 10

Chris Isles 8 10

Neil McAllister 9 10

David Nicholls 10 10

Warren Harris 9 10

Warwick Bible 4 4

Alan Buckle 7 10

Matthew Gross 5 10

Brent Hailey * 9 10

David Laner 7 10

Michael Loney 4 10

Brett McDonald 3 4

Michael McNab 6 6

Paul Melville 6 6

Ian Murray 7 10

Patrice Sherrie 10 10

*Brett Gillan and Brent Hailey attended an important National Council meeting that conflicted with a UDIA (Qld) Board meeting

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Company DetailsThe company is incorporated under the Corporations Act 2001 and is a company limited by guarantee. If the company is wound up, the constitution states that each member is required to contribute a maximum of $20 each towards meeting any outstanding obligations of the company.

Events Subsequent to the End of the Reporting PeriodNo matter or circumstances have arisen since the end of the financial year which significantly affected or may significantly affect the operations of the company, the results of those operations, or the state of the affairs of the company in in future financial years.

Likely Developments and Expected Results of OperationsLikely developments in the operations of the company and the expected results of those operations in future financial years have not been included in this report as the inclusion of such information is likely to result in unreasonable prejudice to the company.

Environmental RegulationThe company’s operations are not regulated by any significant environmental regulation under a law of the Commonwealth or of a state or territory.

Indemnification of OfficersDuring the year, UDIA (Qld) paid a premium to insure the Directors and Officers of the Company. Under the terms of the policy the amount of the premium and the nature of the liability cannot be disclosed.

The liabilities insured are legal costs that may be incurred in defending civil or criminal proceedings that may be brought against the Officers in their capacity as Officers and any other payments arising from liabilities incurred by the Officers in connection with such proceedings.

This does not include such liabilities that arise from conduct involving wilful breach of duty of the Officers or the improper use by the Officers of their position or of information to gain advantage for themselves or someone else or to cause detriment to the Company.

It is not possible to apportion the premium between the amounts relating to the insurance against legal costs and those relating to other liabilities.

No insurance premiums or indemnities have been paid for or agreed by the Company for the current or former auditors.

Proceedings on Behalf of the Company

No person has applied for leave of court to bring proceedings on behalf of the company or intervene in any proceedings to which the company is a party for the purpose of taking responsibility on behalf of the company for all or any part of those proceedings.

Auditor’s Independence DeclarationA copy of the auditor’s independence declaration as required under s 307C of the Corporations Act 2001 is set out on page 7 of the financial report.

This directors’ report is signed in accordance with a resolution of the Board of Directors.

Brett GillanChairman of the Board04 April 2016 Brisbane, Queensland

The company was not a party to any such proceedings during the year.

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Auditor’s Independence Declaration under Section 307c of Corporations Act 2001 I hereby declare that, to the best of my knowledge and belief, during the year ended 31 December 2015 there have

been:

i. no contraventions of the auditor’s independence requirements as set out in the Corporations Act 2001 in relation to the audit; and

ii. no contraventions of any applicable code of professional conduct in relation to the audit.

HLB Mann JuddChartered Accountants

C J M KingPartner

04 April 2016Brisbane, Queensland

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STATEMENT OF

COMPREHENSIVE INCOME

Urban Development Institute of Australia(Queensland) For the year ended 31 December 2015

Note 2015 $

2014 $

Operating Revenue 2 3,112,611 3,806,351

Accountancy and Auditor’s Remuneration (18,558) (60,133)

Marketing and Communication (47,495) (23,449)

IT Support (21,085) (64,331)

Depreciation and Amoritisation Expense (87,189) (47,798)

Employee Benefits Expense (1,699,536) (1,647,829)

Provision - Lease Commitments - (80,000)

Insurance (9,481) (5,693)

Legal Expenses (200) (7,324)

Office Expenses (188,554) (123,885)

Other Expenses (698,998) (1,534,444)

Property Expenses (206,149) (198,542)

Loss on Disposal of Assets (2,311) (2,375)

Operating Surplus / (Deficit) for the year 133,055 10,548

Non-Operating Activities - -

Surplus / (Deficit) for the Year 133,055 10,548

Other Comprehensive Income - -

Total Comprehensive Income for the Year 133,055 10,548

The accompanying notes form part of these Financial Statements

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STATEMENT OF

FINANCIAL POSITIONUrban Development Institute of Australia(Queensland)

as at 30 June 2015

Note 2015 $

2014 $

CURRENT ASSETS

Cash and cash equivalent 3 1,229,368 1,454,953

Trade and Other Receivables 4 182,108 265,646

TOTAL CURRENT ASSETS 1,411,476 1,720,599

Non-Current Assets

Property, Plant and Equipment 5 208,313 97,294

Intangibles 42,859 63,995

TOTAL NON-CURRENT ASSETS 251,172 161,289

TOTAL ASSETS 1,662,648 1,881,888

CURRENT LIABILITIES

Trade and Other Payables 6 167,467 194,156

Subscriptions and Revenue Received in Advance 6 515,872 868,252

Lease Liabilities 9 - 80,000

Provisions 7 74,735 81,462

TOTAL CURRENT LIABILITIES 758,074 1,223,870

NON-CURRENT LIABILITIES

Lease Liabilities 9 93,397 -

Provisions 7 33,737 13,632

TOTAL NON-CURRENT LIABILITIES 127,133 13,632

TOTAL LIABILITIES 885,207 1,237,502

NET ASSETS 777,441 644,386

EQUITY

Accumulated Surplus 777,441 644,386

TOTAL EQUITY 777,441 644,386

The accompanying notes form part of these Financial Statements

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STATEMENT OF

CHANGES IN EQUITY

Accumulated Surplus

$Balance at 1 January 2014 633,838

Surplus for Year to 31 December 2014 10,548

Balance at 31 December 2014 644,386

Surplus for Year to 31 December 2015 133,055

Balance at 31 December 2015 777,441

Urban Development Institute of Australia(Queensland) For the year ended 31 December 2015

The accompanying notes form part of these Financial Statements

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STATEMENT OF

CASH FLOWS

Note 2015 $

2014 $

CASH FLOWS FROM OPERATING ACTIVITIES

Receipts from Customers, Members & Sponsors 3,136,759 3,745,810

Payments to Suppliers and Employees (3,339,571) (3,757,936)

Interest Received 63,213 12,945

NET CASH GENERATED FROM OPERATING ACTIVITIES 8 (139,599) 819

CASH FLOWS FROM INVESTING ACTIVITIES

Purchase of Property, Plant and Equipment (85,986) (38,143)

Purchase of Intangibles - (30,042)

NET CASH INVESTING ACTIVITIES (85,986) (68,185)

NET INCREASE/(DECREASE) IN CASH HELD (225,585) (67,366)

Cash and Cash Equivalents at beginning of Financial Year 1,454,953 1,522,319

CASH ON HAND AT END OF FINANCIAL YEAR 3 1,229,368 1,454,953

Urban Development Institute of Australia(Queensland) For the year ended 31 December 2015

The accompanying notes form part of these Financial Statements

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NOTES TO THE

FINANCIAL STATEMENTSUrban Development Institute of Australia (Queensland)

Notes to the Financial StatementsFor the year ended 31 December 2015

Company Information

The financial statement covers the Urban Development Institute of Australia (Queensland), a company limited by guarantee, incorporated and domiciled in Australia.

The financial statements were authorised for issue by the Board of Directors of Urban Development Institute of Australia (Queensland) at the meeting on the date shown on the Declaration by the Board of Directors attached to the Financial Statements.

Note 1: Statement of Significant Accounting Policies

Basis of Preparation

The directors have prepared the financial statements on the basis that the entity is a non-reporting entity because there are no users who are dependent on its general purpose financial statements. The financial statements are therefore special purpose financial statements that have been prepared in order to meet this requirements of the Corporations Act 2001. The company is a not for profit entity for financial reporting purposes under Australian Accounting Standards.

The financial statements have also been prepared on a going concern basis which assumes the realisation of assets and the extinguishment of liabilities in the normal course of business and at the amounts stated in the financial statements.

The financial statements, except for the cash flow information, have been prepared on an accruals basis and are based on historical costs, modified, where applicable, by the measurement at fair value of selected non-current assets, financial assets and financial liabilities.

(a) Operating Revenue

Membership Fees: Membership Fees are recognised in accordance with the delivery of services to members and customers.

Service Revenue: Revenue from the rendering of services is recognised when the service is rendered and the company becomes entitled to the revenue.

Interest Received: Interest received is recognised on an accrual basis. All revenue is stated net of the amount of Goods and Services Tax (GST).

(b) Income Tax

Urban Development Institute of Australia (Queensland) is not carried on for the purpose of profit or gain to its individual members. Income tax is provided for using the liability method of tax effect accounting resulting in the income tax expense for the year being calculated on the accounting profit after adjusting for non-assessable income from members on the Principal of Mutuality rule.

Supporting and Building 2015 ANNUAL REPORT 13

Note 1: Statement of Significant Accounting Policies – Continued

(c) Property, Plant and EquipmentPlant and Equipment: Plant and equipment is measured on the cost basis (costs include expenditure

that is directly attributable to the acquisition of the item) and are therefore carried at cost less

accumulated depreciation and any accumulated impairment losses. Any capital expenditures over

$1,000 are capitalised.

Depreciation: The depreciable amount of all fixed assets is depreciated on a “straight-line” basis over

the asset’s useful life to the entity commencing from the time the asset is available for use. The depreciation rates used for each class of depreciable assets are:

Class of Fixed Assets Depreciation Rate

Office Furniture and Equipment 13% - 25%

The asset’s residual values and useful lives are reviewed and adjusted if appropriate, at each balance date. An asset’s carry amount is written down immediately to its recoverable amount if the asset’s carrying amount is greater than its estimated recoverable amount.Gains and losses on disposals are determined by comparing the net proceeds with the carrying amount. These gains or losses are included in the Statement of Comprehensive Income when the item is derecognised.

(d) Intangible Assets Costs incurred in developing the external website that will contribute to future financial period benefits through revenue generation and/or cost reduction have been capitalised and amortised over 4 years.

(e) Leases

Leases are note capitalised nor is any corresponding liability raised. All lease payments are charged as an expense in the period in which they occur.

(f) Financial Instruments

Initial Recognition and MeasurementFinancial assets and financial liabilities are recognised when the association becomes a party to the contractual provisions of the instrument. For financial assets, this is equivalent to the date that the association commits itself to either purchase or sell the asset (i.e. trade date accounting is adopted).

Urban Development Institute of Australia (Queensland) Notes to the Financial Statements

For the year ended 31 December 2015

Supporting and Building 2015 ANNUAL REPORT14

Note 1: Statement of Significant Accounting Policies – Continued

(f) Financial Instruments - Continued

Classification and Subsequent Measurement

Financial instruments are subsequently measured at fair value, amortised cost using the effective interest method, or cost. Fair value represents the amount for which an asset could be exchanged or a liability settled between knowledgeable, willing parties. Where available, quoted prices obtained in an active market are used to determine fair value. In other circumstances, valuation techniques are adopted.

Amortised cost is calculated as the amount at which the financial asset or financial liability is measured at initial recognition less principal repayments and any reduction for impairment, and adjusted for any cumulative amortisation of the difference between that initial amount and the maturity amount calculated using the effective interest method.

(i) Loans and Receivables Loans and receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market and are subsequently measured at amortised cost. Gains or losses are recognised in surplus or deficit through the amortisation process and when the financial asset is derecognised.

Impairment

At the end of each reporting period, the company assesses whether there is objective evidence that a financial asset has been impaired. A financial asset (or a group of financial assets) is deemed to be impaired if, and only if, there is objective evidence of impairment as a result of one or more events (a “loss event”) having occurred, which has an impact on the estimated future cash flows of the financial asset(s).

For financial assets carried at amortised cost (including loans and receivables), a separate allowance account is used to reduce the carrying amount of financial assets impaired by credit losses. After having taken all possible measures of recovery, if management establishes that the carrying amount cannot be recovered by any means, at that point the written-off amounts are charged to the allowance account, or the carrying amount of impaired financial assets is reduced directly if no impairment amount was previously recognised in the allowance account.

When the terms of financial assets that would otherwise have been past due or impaired have been renegotiated, the association recognises the impairment for such financial assets by taking into account the original terms as if the terms have not been renegotiated so that the loss events that have occurred are duly considered.

Derecognition

Financial assets are derecognised when the contractual rights to receipt of cash flows expires or the asset is transferred to another party whereby the association no longer has any significant continuing involvement in the risks and benefits associated with the asset. 

Urban Development Institute of Australia (Queensland) Notes to the Financial Statements

For the year ended 31 December 2015

Supporting and Building 2015 ANNUAL REPORT 15

Note 1: Statement of Significant Accounting Policies – Continued

(f) Impairment of Assets

At the end of each reporting period, the entity reviews the carrying values of its tangible and intangible assets to determine whether there is any indication that those assets have been impaired. The assessment will consider both external and internal sources of information. If such an indication exists, an impairment test is carried out on the asset by comparing the recoverable amount of that asset, being the higher of the asset’s fair value less costs to sell and its value-in-use, to the asset’s carrying value. A recommendation will be presented to the Board of Directors for action to ensure that the carrying value is not in excess of the recoverable amount of the asset. Any excess of the asset’s carrying value over its recoverable amount is expensed in the Statement of Comprehensive Income.

(g) Employee Provisions

Short-term employee benefits: Provision is made for the entity’s obligation for short-term employee benefits. Short-term employee benefits are benefits (other than termination benefits) that are expected to be settled wholly before 12 months after the end of the annual reporting period in which the employees render the related service, including wages, salaries and sick leave. Short-term employee benefits are measured at the (undiscounted) amounts expected to be paid when the obligation is settled.

Other long-term employee benefits: Long-term employee benefits are measured at the present value of the expected future payments to be made to employees. Expected future payments incorporate anticipated future wage and salary levels, durations of service and employee departures, and are discounted at rates determined by reference to end-of-reporting-period market yields on government bonds that have maturity dates approximating the terms of the obligations. Any re-measurements of other long-term employee benefit obligations due to changes in assumptions are recognised in surplus or deficit in the periods in which the changes occur.The entity’s obligations for long-term employee benefits are presented as non-current provisions in its Statement of Financial Position, except where the entity does not have an unconditional right to defer settlement for at least 12 months after the reporting date, in which case the obligations are presented as current provisions.

(h) Cash and cash equivalent

Cash and cash equivalent includes petty cash, cash on hand, deposits held at-call with banks, other short-term highly liquid investments with original maturities of three months or less.

Urban Development Institute of Australia (Queensland) Notes to the Financial Statements

For the year ended 31 December 2015

Supporting and Building 2015 ANNUAL REPORT16

Note 1: Statement of Significant Accounting Policies – Continued

(i) Goods and Services Tax (GST)

Revenues, expenses and assets are recognised net of the amount of GST, except where the amount of GST incurred is not recoverable from the Australian Tax Office (ATO).

Receivables and payables are stated inclusive of the amount of GST receivable or payable.

The net amount of GST recoverable from, or payable to, the ATO is included with other receivables or payables in the Statement of Financial Position.Cash flows are presented in the Statement of Cash Flows on a gross basis. The GST component of cash flows arising from investing and financing activities, which are recoverable from, or payable, to the ATO are presented as operating cash flows included in receipts from customers or payments to suppliers.

(j) Accounts Receivable and Other Debtors

Accounts receivable and other debtors include amounts receivable from customers for services in the ordinary course of business. Receivables expected to be collected within 12 months of the end of the reporting period are classified as current assets. All other receivables are classified as non-current assets.

Accounts receivable are initially recognised at fair value and subsequently measured at amortised cost using the effective interest method, less any provision for impairment.

(k) Provisions

Provisions are recognised when the entity has a legal or constructive obligation, as a result of past events, for which it is probable that an outflow of economic benefits will result and that outflow can be reliably measured. Provisions recognised represent the best estimate of the amounts required to settle the obligation at the end of the reporting period.

(l) Accounts Payable and Other Payables

Accounts payable and other payables represent the liability outstanding at the end of the reporting period for goods and services received by the entity during the reporting period that remain unpaid. The balance is recognised as a current liability with the amounts normally paid within 30 days of recognition of the liability.

Urban Development Institute of Australia (Queensland) Notes to the Financial Statements

For the year ended 31 December 2015

Supporting and Building 2015 ANNUAL REPORT 17

Note 2015 $

2014 $

NOTE 2 - RevenueMembership Fees 1,324,156 1,210,554

EnviroDevelopment 230,844 100,352

Professional Development 152,462 13,161

Events 627,021 1,527,370

Sponsorship 435,468 918,375

Research Foundation 299,872 -

Interest Received 41,927 36,021

Other Revenue 861 518

Total Revenue 3,112,611 3,806,351

NOTE 3 - Cash and cash equivalentCash at Bank and In-Hand 329,368 654,953

Held on Term Deposit 900,000 800,000

Total Cash and Cash Equivalents 1,229,368 1,454,953

NOTE 4 - Trade and Other ReceivablesCurrent

Trade Receivables 84,447 149,798

Other Receivables 94,646 90,823

Accrued Income 3,015 25,025

182,108 265,646

NOTE 5 - Property, Plant and Equipment

Office Furniture & Equipment

Office Furniture & Equipment – at cost 163,283 190,589

Less: Accumulated Depreciation (46,884) (135,993)

116,399 54,596

Leasehold Improvements

Leasehold Assets – at cost 93,396 403,245

Less: Accumulated Amortisation (1,482) (360,547)

91,914 42,698

Total Property, Plant and Equipment 208,313 97,294

Urban Development Institute of Australia (Queensland) Notes to the Financial Statements

For the year ended 31 December 2015

Supporting and Building 2015 ANNUAL REPORT18

2015 $

2014 $

NOTE 6 - Trade and Other PayablesCurrent

Unsecured Liabilities:

Trade Payable 4,563 39,409

Sundry Payable and Accrued Expenses 78,542 58,107

GST Payable 25,586 42,651

PAYG and Superannuation Payable 58,776 53,989

167,467 194,156

Subscriptions in Advance 186,169 486,672

Sponsorship in Advance 166,596 293,500

Other in Advance 163,108 88,080

515,872 868,252

NOTE 7 - ProvisionsCurrent

Employee Benefits (Annual Leave, Long Service Leave) 74,735 81,462

Non-Current

Employee Benefits (Long Service Leave) 33,737 13,632

The provision for employee benefits includes amounts accrued for annual leave. Based on past experience, the entity does not expect the full amount of annual leave to be settled wholly within the next 12 months; however, the amount must be classified as a current liability because the Association does not have an uncon-ditional right to defer the settlement of the amount in the event employees wish to use their leave entitlements.

Urban Development Institute of Australia (Queensland) Notes to the Financial Statements

For the year ended 31 December 2015

Supporting and Building 2015 ANNUAL REPORT 19

2015 $

2014 $

NOTE 8 - Cash Flow InformationReconciliation of Cash Flow from Operations to surplus for the year

Surplus / (Deficit) for the Year 133,055 10,548

Non-Cash Flows in Surplus:

- Depreciation and Amortisation 87,189 47,799

- Write off of fixed assets - -

- Net (Gain)/ Loss on disposal of Property, Plant and Equipment 2,311 2,375

Changes in Assets and Liabilities:

- (Increase) / Decrease in Receivables 87,362 (253)

- (Increase) / Decrease in Other Current Assets (3,824) 14,958

- Increase / (Decrease) in Payables (379,069) (148,976)

- Increase / (Decrease) in Provisions and Other Payables (66,623) 74,368

(139,599) 819

NOTE 9 - Lease LiabilitiesCurrent - 80,000

Non-current 93,397 -

Total Lease Liabilities 93,397 80,000

NOTE 10 -Contingent LiabilityAs at 31 December 2015 the Company had no Contingent Liabilities.

NOTE 11 - CommitmentsAs at 31 December 2015 the company had the following commitments.

a) The property lease is payable at $15,706 per month with the lease due for renegotiation in November 2022. There is an option to renew at that time for a further 5 years.

Lease Commitment to be paid:

within 1 year - $188,470 2 to 5 years - $753,880 > 5 years - $376,940

Urban Development Institute of Australia (Queensland) Notes to the Financial Statements

For the year ended 31 December 2015

Supporting and Building 2015 ANNUAL REPORT20

DIRECTORS’

DECLARATION

The directors have determined that the company is not a reporting entity and that this special purpose financial report should be prepared in accordance with the accounting policies described in Note 1 to the financial statements.

The directors of the company declare that:

1) The financial statements and notes, as set out on pages 8 to 19, are in accordance with the Corporations Act 2001 and

a) comply with Accounting Standards; and

b) give a true and fair view of the financial position as at 31 December 2015 and of its performance for the year ended on that date in accordance with the accounting policies described in note 1 to the financial statements;

2) In the directors’ opinion there are reasonable grounds to believe that the company will be able to pay its debts as and when they become due and payable.

This declaration is made in accordance with a resolution of the Board of Directors.

Brett GillanChairman of the Board04 April 2016Brisbane, Queensland

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We have audited the accompanying financial report, being a special purpose financial report, of Urban Development Institute of Australia (Queensland) (“the company”), which comprises the statement of financial position as at 31 December 2015, the statement of comprehensive income, the statement of changes in equity and the statement of cash flows for the year then ended, notes comprising a summary of significant accounting policies and other explanatory information, and the directors’ declaration.

Directors’ Responsibility for the Financial Report

The directors of the company are responsible for the preparation of the financial report that gives a true and fair view and have determined that the basis of preparation described in Note 1 to the financial report is appropriate to meet the requirements of the Corporations Act 2001 and is appropriate to meet the needs of members. The directors’ responsibility also includes such internal control as the directors determine is necessary to enable the preparation and fair presentation of a financial report that gives a true and fair view and is free from material misstatement, whether due to fraud or error.

Auditor’s Responsibility

Our responsibility is to express an opinion on the financial report based on our audit. We conducted our audit in accordance with Australian Auditing Standards. Those standards require that we comply with relevant ethical requirements relating to audit engagements and plan and perform the audit to obtain reasonable assurance about whether the financial report is free from material misstatement.An audit involves performing procedures to obtain audit evidence about the amounts

and disclosures in the financial report. The procedures selected depend on the auditor’s judgement, including the assessment of the risks of material misstatement of the financial report, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the company’s preparation of the financial report that gives a true and fair view in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the directors, as well as evaluating the overall presentation of the financial report.

Our audit did not involve an analysis of the prudence of business decisions made by directors or management.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Opinion

In our opinion, the financial report of Urban Development Institute of Australia (Queensland) is in accordance with the Corporations Act 2001, including:

a) giving a true and fair view of the company’s financial position as at 31 December 2015 and its performance for the year ended on that date; and b) complying with Australian Accounting Standards to the extent described in Note 1, and the Corporations Regulations 2001;

Independent Auditor’s

Report to the Members

Supporting and Building 2015 ANNUAL REPORT22

HLB Mann Judd C J M King

Chartered Accountants Partner

04 April 2016

Brisbane, Queensland

Basis of Accounting

Without modifying our opinion, we draw attention to Note 1 to the financial report, which describes the basis of accounting. The financial report has been prepared for the purpose of fulfilling the directors’ financial reporting responsibilities under the Corporations Act 2001. As a result, the financial report may not be suitable for another purpose.