Attachment 2 - Development Report - Noosa Springs Boutique Hotel by GH Australia.pdf

1 Background
1.1 Location
     Noosa Springs is an award-winning master plan development approximately 3 km from the main
     tourist areas of Noosa. The 103-ha project has a natural setting including broad frontages to Lake
     Weyba and the Noosa National Park. Although it is close to the commercial and tourist areas of
     Noosa, it has a sense of isolation and a tranquil, natural setting.

1.2 Master Planned
     Noosa Springs is master planned as a high-quality residential and resort destination that comprises:
        • 299 residential dwellings
        • 42 apartments of The Fairways
        • 18-hole championship golf course
        • Clubhouse complex including restaurant, bars, function rooms, pro shop/retail outlet, day
            spa, fitness centre with heated lap pool
        • Synthetic grass tennis courts

     The partly developed Parkridge Noosa residential apartments are located adjacent to Noosa
     Springs.

     Noosa Springs has been acclaimed as a leader in the industry for many reasons including the
     incorporation of the following principles:
         • emphasis on the natural environment
         • consistent architectural theme with high-quality exterior surfaces and finishes
         • security provided by perimeter fencing and gated entrances
         • first class sport and recreation facilities
         • superior standards of service

1.3 Hotel and Precinct F (Parkridge Noosa)
     Noosa Council has expressed a strategic planning preference for a hotel to be included within the
     Noosa Springs development and Precinct F (previously forming part of Noosa Springs) was
     identified in the Noosa Plan as suitable for that purpose. Precinct F, now known as Parkridge Noosa,
     may be used as either permanent residential living or short-stay accommodation. The apartments
     have been strata-titled and separately owned and appears to be mostly occupied on a permanent
     basis. In particular, it’s current use does not seem to satisfy the Council’s strategic preference for
     visitor accommodation.

2 The Site
2.1 Legal
2.1.1 Owner / Developer
         The site is owned by Noosa Springs Investments Pty Ltd, which is a wholly owned subsidiary of
         the GH Australia group of companies. The applicant is Noosa Springs Real Estate Pty Ltd, also a
         wholly owned subsidiary of the GH Australia group of companies. Although not a foreign
         company, GH Australia is owned by a successful Chinese property developer with extensive
         large scale property development expertise and experience. GH has developed more than 20
         iconic real estate projects in Beijing, Shanghai, Guangzhou, Tianjin, Hangzhou, Wuxi, Nanjing,

Noosa Springs Boutique Hotel – Development Report                                         Page 1 of 13


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GH AUSTRALIA

Background

Location
Noosa Springs is an award-winning master plan development approximately 3 km from the main
tourist areas of Noosa. The 103-ha project has a natural setting including broad frontages to Lake
Weyba and the Noosa National Park. Although it is close to the commercial and tourist areas of
Noosa, it has a sense of isolation and a tranquil, natural setting.

Master Planned
Noosa Springs is master planned as a high-quality residential and resort destination that comprises:
e 299 residential dwellings
e 42 apartments of The Fairways
e 18-hole championship golf course
e Clubhouse complex including restaurant, bars, function rooms, pro shop/retail outlet, day
spa, fitness centre with heated lap pool
e Synthetic grass tennis courts

The partly developed Parkridge Noosa residential apartments are located adjacent to Noosa
Springs.

Noosa Springs has been acclaimed as a leader in the industry for many reasons including the
incorporation of the following principles:

e emphasis on the natural environment

e consistent architectural theme with high-quality exterior surfaces and finishes

e security provided by perimeter fencing and gated entrances

e first class sport and recreation facilities

e superior standards of service

Hotel and Precinct F (Parkridge Noosa)
Noosa Council has expressed a strategic planning preference for a hotel to be included within the
Noosa Springs development and Precinct F (previously forming part of Noosa Springs) was
identified in the Noosa Plan as suitable for that purpose. Precinct F, now known as Parkridge Noosa,
may be used as either permanent residential living or short-stay accommodation. The apartments
have been strata-titled and separately owned and appears to be mostly occupied on a permanent
basis. In particular, it’s current use does not seem to satisfy the Council’s strategic preference for
visitor accommodation.

The Site
Legal

2.1.1 Owner / Developer

The site is owned by Noosa Springs Investments Pty Ltd, which is a wholly owned subsidiary of
the GH Australia group of companies. The applicant is Noosa Springs Real Estate Pty Ltd, also a
wholly owned subsidiary of the GH Australia group of companies. Although not a foreign
company, GH Australia is owned by a successful Chinese property developer with extensive
large scale property development expertise and experience. GH has developed more than 20
iconic real estate projects in Beijing, Shanghai, Guangzhou, Tianjin, Hangzhou, Wuxi, Nanjing,

Noosa Springs Boutique Hotel — Development Report Page 1 of 13