 |
 |
WE LISTENED TO THE NEEDS OF OUR PRIVATE SECTOR PARTNERS AND TOOK STEPS TO MAKE IT EASIER TO DO BUSINESS WITH LANDCOM.
We have reported separately on our annual sustainability performance over the last four years. Over that period, we have gradually incorporated these practices within all our business and decision-making processes. This year’s Annual Report integrates our sustainability and business reporting requirements within the one document.
The year was a period of significant change for Landcom. The Corporation met the key challenges set for it by Government. We delivered a total of 1,179 dwelling equivalents to the market, both in newly emerging communities and across a wide range of urban renewal projects.
Highlights for the year include the commencement of construction at the Rouse Hill Regional Centre. We launched projects at Macarthur Gardens and Greenway Views. We sold the last of our apartments at Park Central and we maintained progress on the delivery of our major land supply initiatives on the outskirts of Sydney.
A new Metro Strategy for Sydney was released, citing Landcom as the organisation best suited to implement the Government’s urban management agenda. With our projects already closely aligned to the Government’s Strategy, we focused our activities towards setting the benchmark for future development within the Growth Sectors and on assisting the newly created Growth Centres Commission. In recognition of the scale of our operations, we also emerged as an important coordinator of major infrastructure.
The NSW Treasury review of our operations left us with a renewed vision and a greater sense of our purpose. We undertook a major review of our holdings and significantly reduced our portfolio to 35 major projects. An asset realisation strategy was developed and a responsible programme of “non-core” asset sales was commenced during the year, to be concluded by 2006/2007.
We continued to invest in our future, seeking out new projects and improving our business processes. We listened to the needs of our private sector partners and took steps to make it easier to do business with Landcom. We tested the effectiveness of our relationships with Local Government and undertook to develop closer partnering arrangements with councils.
The future will no doubt bring further challenges. We must balance the costs associated with promoting sustainable development with the need to maintain housing affordability and we must continue to promote responsible urban growth while minimising our impact on biodiversity.
Landcom continues to meet these challenges in partnership with the building and development industry. I acknowledge the positive impact that these relationships have on our ability to influence the strategic direction of Sydney’s growth and I thank our partners for their contributions: Mirvac, Lend Lease and General Property Trust, Australand, Stockland, Sunland, St Lukes/Multiplex, Urban Pacific, and the Greenfield Development Corporation.
Finally I thank the people of Landcom – our staff, the management team and the Board. They are Landcom’s foundation and its future. The impressive results of the past year are a testament to their teamwork.
SEAN O’TOOLE
MANAGING DIRECTOR
