Corporate Profile and Information Memorandum - 2009

CORPORATE PROFILE
Preston Rowe Paterson
Corporate Profile and Information Memorandum page 1

Preston Rowe Paterson National Property Consultants
Table of Contents
Table of Contents.....................................................................................................................................2
Corporate Profile.....................................................................................................................................3
Preamble...............................................................................................................................................3
Our National Property Services............................................................................................................3
Types of Property we Deal with............................................................................................................4
Types of Plant & Machinery we Value.................................................................................................4
Reasons for Our Services......................................................................................................................5
Our Clients Profile ...............................................................................................................................6
Our Comparative Advantage................................................................................................................7
Client Connectivity through E-Valuers.................................................................................................9
Our Services in Detail............................................................................................................................10

Real Estate Investment Valuation ......................................................................................................10
Property Consultancy and Advisory...................................................................................................13
Transaction Advisory..........................................................................................................................13
Property and Asset Management........................................................................................................14
Listed Fund, Property Trust, Super Fund and Syndicate Advisors....................................................14
Plant and Machinery Valuation.........................................................................................................14
General and Insurance Valuation.......................................................................................................15
Economic and Property Market Research..........................................................................................16
Asset Valuation for Financial Reporting............................................................................................17
Our Track Record..................................................................................................................................20

National Maritime Museum, Darling Harbour – Sydney NSW..........................................................22
Asset Valuation Consulting.................................................................................................................22
Sydney Aquarium and Wildlife World, Darling Harbour – Sydney NSW...........................................23
Rental setting of Darling Harbour charter boat wharves and asset valuation..................................23
Our People..............................................................................................................................................25
Contact Us...............................................................................................................................................47

Corporate Profile
Preamble
Preston Rowe Paterson (PRP) was formed during late 1988 as a National Corporate
Property Consultancy firm. In 2009, our 21st year of operation, we operate from
fourteen capital city and regional offices throughout Australia.
Since the inception of the firm it has been our philosophy to build a well
respected, professional service based property consultancy and valuation
business on a national basis. Our main objective is to provide a total property
consultancy service to our Corporate, Government and private clients.
We see the future of Preston Rowe Paterson as one of expanding the services we
currently offer, as well as expanding our office network in Australia and New
Zealand. Through our association with the UK based King Sturge, we are
expanding our international business and further developing our business with off
shore corporate and private property owners in Australia.
Our National Property Services
At Preston Rowe Paterson we provide an elite and professional service to our

clients in the specific areas listed below:
• Real Estate Investment Valuation

• Real Estate Development Valuation
• Property Consultancy and Advisory
• Transaction Advisory
• Property and Asset Management
• Listed Fund, Property Trust, Super Fund
and Syndicate Advisors
• Plant & Machinery Valuation
• General and Insurance Valuation
• Economic and Property Market Research

Types of Property we Deal with
Preston Rowe Paterson provide valuation and consultancy advice for all
classifications of real estate, including:
• Retail shopping centres and shops
• Metropolitan and CBD commercial office buildings
• Industrial, office/warehouses and factories

• Business parks
• Accommodation Hotels and resorts
• Licensed Hotels (pubs), motels and caravan parks
• Residential developments projects
• Residential (houses, townhouses, apartments and units)

• Rural properties
• Aged care (nursing homes, retirement villages)
• Health care
• Special use/ purpose properties
• Extractive industries, landfills and resource based enterprises

• Cash flow based infrastructure assets
Types of Plant & Machinery we Value
Our Asset, Plant and Machinery Valuation/Appraisal Division undertakes valuation

of all forms of plant, machinery, furniture fittings and equipment including:
• Mining and earth moving equipment/ road

plant
• Resort & Accommodation, hotel furniture,

fittings & equipment
• Office fit outs and equipment
• Farming equipment
• Transport equipment
• Industrial/Factory equipment
• Licensed Club furniture, fittings and
equipment

Reasons for Our Services
Our clients require our real estate and asset services for a multitude of reasons
including:
• Acquisitions and disposals

• Alternative use and highest and best use analysis
• Asset valuations for financial reporting to meet ASIC

& AASB guidelines
• Compulsory acquisition and resumption
• Corporate merger and acquisition due diligence
• Feasibility studies
• Funds management advice and portfolio analysis

• Income and outgoings projections and analysis
• Listed property trust and investment

fund valuations and revaluations
• Litigation support
• Marketing and development strategies
• Mortgage valuations
• Property and Portfolio acquisition due
diligence
• Property syndicate valuations and re-

valuations
• Rating and taxing objections
• Receivership and liquidation valuations and support/

advice
• Relocation advice, strategies and consultancy
• Rental assessments and determinations
• Sensitivity analysis
• Strategic property planning

Our Clients Profile
Preston Rowe Paterson act for an array of clients with various real estate, asset,
plant and machinery interests. These Include:
• Accountants
• Banks, finance companies and lending institutions
• Commercial and Residential non bank lenders
• Co-operatives
• Developers
• Finance and mortgage brokers
• Hotel owners and operators
• Institutional investors
• Insurance brokers and companies
• Investment advisors
• Lessors and Lessees
• Listed and private companies and corporations
• Listed property trusts
• Local, State and Federal Government Departments
and Agencies
• Mining companies
• Mortgage trusts
• Overseas clients
• Private investors
• Property Syndication Managers
• Real Estate Investment Trusts (REITS)
• Rural landholders
• Solicitors and Barristers
• Stock brokers
• Sovereign Wealth Funds
• Trustee and Custodial companies
• Superannuation Funds

Our Comparative Advantage
The Directors and Senior Personnel at Preston Rowe Paterson take an active role
in business development and consulting assignments to ensure that tasks are
dealt with efficiently and with considerable experience.
With the ability to research all forms of property in detail and in relatively short
time frames, we are able to assist clients in their endeavours to maximise returns
from property investment and development assets. Our comparative advantage is
embodied in the following principles:-
Director & Senior Personnel Involvement

We emphasise Director and senior personnel involvement to maintain a maximum
level of task experience.
Our Nationwide Coverage

We have 14 offices in capital and regional cities around Australia. This number is
continuously growing, as the benefits of joining PRP become more widely
recognised.
Our International Partners

Preston Rowe Paterson have a long established association with King Sturge, who
have offices in the UK, Europe and South-east Asia. Through this association, we
also have an alliance with Corporate Facilities in the United States of America. The
international relationships allow Preston Rowe Paterson to assist offshore clients
investing in Australia and to assist Australian clients with their property
endeavour offshore.
Reporting Quality
Our valuation, consultancy, due diligence and asset management reports have
been expertly designed to provide a maximum level of information to the reader
in a succinct format. These are also amended/updated from time to time to
include specific client requirements. We have tailored a number of reports to
specific client requirements.
Computerised Valuation Techniques

Our computerised and financial valuation techniques are unrivalled in detail and
unlimited in adaptability to specific property and client requirements.

Independence
We are an independently owned firm which gives us the opportunity to research
all market data without conflict; and provide diligent, unbiased advice.
Cost to Client
We emphasise a maximum level of service and detailed reporting on a
competitive client cost basis.
Availability/Delivery Timing
We recognise that valuation and consultancy advice may be required at short
notice, particularly given the current competitive climate. We therefore are
available 7 days a week to offer discrete valuation and consultancy advice.
Discretion
Our Valuation, Consultancy and Research services are conducted on a discrete
basis, which is important, particularly where major acquisitions and disposals are
concerned.
Library
We maintain a full computerised and hard copy library of economic and property
data to ensure that we have all the necessary information to complete valuation
and consultancy tasks for the classes of property that we deal with.

Client Connectivity through E-Valuers
E-Valuers.com.au is Preston Rowe Paterson’s IT

solution.
E-Valuers.com.au is a web services based IT

platform that links us with our clients through
the power of the internet.
E-Valuers.com.au is an IT solution that has
been designed by us to maximise our client
connectivity and has been built by the best
code writers in Australia.
E-Valuers.com.au is designed to provide a clear and transparent communication

tool that caters for the needs of all of our clients from instructions, to
communication, to on-line document storage once tasks are complete.
E-Valuers.com.au allows clients to upload instructions over the web and have that
instruction routed to our relevant office.
E-Valuers.com.au allows clients to track via

visual cues the progress of any valuation or
consultancy assignment in Australasia. It
generates detailed tracking reports of
completion and delivery times by State, Region,
and Postcode.
E-Valuers.com.au for the first time provides a

mechanism to allow clients to be proactive in
the provision of further information to assist in
the valuation process.
E-Valuers.com.au is assisting in the battle on greenhouse by reducing the level of

paper and other consumables required as all information once scanned is
available in an online file.

Our Services in Detail

Real Estate Investment Valuation
In our Real Estate Investment Valuation work, we strive to provide our clients with
as much information regarding a property as is available. This information
includes detailed analysis and reporting, which shows the basis upon which the
valuation has been made and the background data upon which the property has
been assessed.
We make every attempt to ensure that

our valuation reports are unrivalled in
our industry by constantly monitoring
and updating our formats and utilising
the latest technology for both word
processed documents and spreadsheets.
The Directors and Senior Personnel of Preston Rowe Paterson have a wealth of
specific experience in the area of real estate investment valuation. Real Estate
Investment Valuation, consultancy and advisory are our core business covering all
classes of real estate.
We have developed various computerised cash flow based analytical techniques

for all development and investment properties to supplement the traditionally
accepted valuation methods and techniques. We also utilise proprietary modelling
software, such as Cougar or Estate Master, where specifically required by clients.
Examples of specific in house computer valuation models that we have developed

are summarised below:
Term and Reversion Analysis
This model allows us to prepare a

valuation of an existing multi-tenanted
investment property, (with any number
of tenants), on the traditionally accepted
basis of capitalising net passing
incomes, however it also allows us to
make adjustments for perceived
reversionary under market and over
market incomes on a monthly basis, as
may be appropriate in varying rental
market conditions.

Analysis of Face and Effective Rentals
We have formulated detailed computer based Net Present Value and Amortisation
techniques to analyse effective (Equivalent Cash) rentals where tenant incentives
such as rent free periods, fit out allowances and cash incentives are provided to
tenants. This analysis becomes vital in wayning tenant markets where vacancies
and tenant incentives are rising, resulting in a widening gap between face and
effective rents.
Discounted Cash Flow Analysis
This model facilitates the projection of rental income for a specified time period on
a monthly tenant-by-tenant basis (or as rentals are paid/ received as required by
leases), to enable the accurate assessment of future income for multi-tenanted
investment property, be it commercial, retail or industrial. We also project
building outgoings and recoveries (as required by leases) on a similar basis.
Projecting cash flows on a monthly basis (where leases call for monthly rental
payments) is seen as the most accurate method of preparing DCF analysis as it is
usually the manner in which rentals and outgoings are paid. Annual summaries
can then be prepared based on monthly projections.

We are then able to determine the Internal Rate of Return given an acquisition
price, or alternatively the Net Present Value based on an Internal Rate of Return
expectation hurdle rate. We factor into our cash flows complex lease terms and
conditions such as market (with or without ratchet review provisions), CPI, Fixed
and Turnover rental reviews etc; review caps and collars; gross or net outgoings
recoveries and outgoing recovery caps and collars etc. Imperative in the process
of getting cash flows as accurate as possible is thoroughly reviewing leases. It is
not possible to accurately forecast investment returns without thoroughly
reviewing income and expenditure appropriation provisions within leases and then
applying those provisions.
We also consider the effect of Acquisition and Selling costs on the Internal Rate of
Return so that it may be compared to other forms of investment such as long
term bonds and other securities.
To consider appropriate discount rates, we analyse sales data and interview

buyers and sellers to ascertain their views of an analysed discount rate. We then
compare this to other investment returns and consider the return or equity
through Capital Asset Pricing Models (CAPM) and the Weighted Average Cost of
Capital (WACC).
Hotel Projections - DCF
In this analysis we project the operating budgets for Accommodation Hotels and
Resorts, motels and licensed hotel type properties in accordance with the
accepted methods of accounting/appropriation (uniform system of accounts). We
also prepare Discounted Cash
Flow Analysis based on the net
return to the owner of the
property, inclusive of the
requirements of the Management
Agreement or Lease to an
operator, whichever is the case.
This analysis can also be prepared
on an owner occupied/operated
basis or take into account the
nature of complex ground/head
leases.

Real Estate Development Valuation
In our Real Estate Development Valuation, we have prepared computerised

models which can be adapted to all forms of property including, but not limited to:
• CBD and Metropolitan Office

Development;
• Office Warehouse Development;
• Shopping Centre Development/
Extensions;
• Hotel Development;
• Density Residential Development
Projects;
• Residential Subdivision Sites; and
• Special Purpose Development etc.
These are prepared on a traditional basis as well as more detailed and accurate
discounted cash flow based basis. We also prepare our analysis so that growth in
sales and costs may be considered for sensitivity purposes. Further, the cash flow
effects of the Goods and Services Tax are taken into consideration. Whilst we use
our models on more complex properties, we also use off the shelf products, such
as Estate Master, for smaller development projects.
Preston Rowe Paterson's Development Consultancy Services include site

amalgamation, property acquisition and disposal, feasibility and sensitivity studies
and marketing analysis.
In this area we use computerised techniques to prepare wide-ranging sensitivities.
Property Consultancy and Advisory
Our Property Consultancy Services include assisting clients within disposals and
acquisitions, formulating investment strategies and other general consultancy.
Transaction Advisory
Our transaction advisory services include sale and acquisition consulting, as well
as leasing. These services cover mainly commercial, retail and industrial real
estate.

Property and Asset Management
As Asset Managers we strive to:
1. Maximise the income derived from

investment properties, whilst at the
same time maintaining full
occupancy; and
2. Minimise building expenditure and

outgoings, without sacrificing
standards of maintenance required
to attract and retain tenants.
By addressing these two issues as priorities, we strive to maximise and maintain

growth in net rental income. Our role as asset managers also includes leasing and
co-ordinating leasing in managed buildings. Leasing services include preparing
marketing campaigns for vacant or unoccupied space within commercial, retail
and industrial investment properties. Once a marketing strategy has been put in
place we then co-ordinate the leasing to ensure that space is let in as short a time
frame as possible.
Listed Fund, Property Trust, Super Fund and Syndicate

Advisors
As Property Fund and Portfolio Advisors, we assist institutional, trust and private
investors in strategic property planning, investment, placement, on-going
management and rationalisation. We also assist clients in assessing portfolio
weightings and balances to ensure that investment risks, relative to returns, are
maintained at satisfactory levels.
Plant and Machinery Valuation
Our Asset, Plant and Machinery Valuation division to undertake valuations of real
property and personal property (plant, machinery, furniture, fittings and
equipment) for Insurance, Financial Reporting acquisition and disposal purposes.
In the area of Insurance Valuations, we

prepare Insurance Replacement Cost
Estimates on a “new for old” basis and an
“indemnity basis” to comply with the
Industrial Special Risks (ISR) Advisory Policy
Wording introduced by the Insurance Council
of Australia and the National Insurance
Brokers’ Association (NIBA).

General and Insurance Valuation
Preston Rowe Paterson provide general valuation services throughout Australia.

This includes general residential property, exclusive residential property and
commercial property. Valuations are provided for mortgage, stamp duty, dispute
and a plethora of other purposes.
In undertaking insurance valuations, we consider all forms of real estate, including

but not limited to, commercial, retail, industrial, hotel and leisure and special
purpose properties, together with personal property including plant, machinery,
furniture, fittings and equipment.
In preparing valuations of plant and machinery, we are able to provide valuation

figures for either, or all of, the following purposes;
• Replacement Cost (new for old)

• Replacement Cost – indemnity
• Market Value for Existing Use
• Auction or Forced Sale Values
Concrete Batching Plants
We also prepare detailed inventories of all plant, machinery, furniture, fittings and
equipment and provide these both in hard copy format and in spreadsheet format
in either Excel or Lotus spreadsheet. These may also be used for depreciation
schedule purposes.
For insurance valuations, we usually quote

to undertake initial valuations and provide
desktop updates annually with thorough
valuation reviews every three years. This
ensures that insurances are maintained at
adequate levels and that the choice
between replacement cost with new for old,
relative to indemnity value, is commercially
acceptable to the client for its insurance
purposes.

Further, apropos valuations for financial reporting purposes, we assist both listed
and private companies in meeting their statutory requirements in accordance with
the accepted national and international accounting standards.
Economic and Property Market Research
Research Services are an integral function of all of our professional services. We

research all assignments in detail and also prepare market analysis reports on
behalf of clients, which are uploaded to our website and emailed to clients
regularly.
Our national research reports include:
New South Wales Property Market Report

Queensland Property Market Report
Victoria Property Market Report
South Australia Property Market Report
Western Australia Property Market Report
Australian Capital Territory Property Market Report
Listed Property Trusts & Syndicates Review
Our local research reports include:
Sydney Commercial Property

Report
Sydney Residential Property
Report
Sydney Industrial Property
Report
Sydney Hotel and Leisure
Property Report
Sydney Retail Property Report
Our economic reports include:
Quarterly Economic Report

Monthly Economic Snapshot

Asset Valuation for Financial Reporting
In the area of Asset Valuations for Financial Reporting purposes, we undertake

valuations of all forms of real estate, plant, machinery, furniture, fittings and
equipment to meet with the requirements of various legislation and accounting
body guidelines as they effect Corporate and Government assets as follows: -
The standards which effect the valuation of Real Property, Plant, Machinery and
Equipment Assets are summarised as follows: -
AASB 116 – Property Plant and Equipment;
• AASB 117 – Leases;
• AASB 136 – Impairment of Assets;
• AASB 140 – Investment Property; and
• AASB 5 – Non Current Assets Held for

Sale and Discontinued Operation.
We also have a comprehensive

understanding of State Treasury Corporation Guidelines.
Classification of Assets for Financial Reporting Valuation
We are of the view that it is first necessary to assist clients with classifying assets.
We can then consider each asset or asset class in a number of tests to identify the
nature of the asset, which Standards apply to the asset valuation requirement,
which valuations are required and the appropriate bases of valuation calculations.
The Flow Chart which is provided overleaf considers various examples of assets
for valuation purposes. The discussion which follows provides an explanation of
the Flow Chart and the need to classify assets to consider the necessary
valuations.
To consider the practical application of the asset valuation standards, it is first

necessary to classify each asset under consideration to determine which of the
standards apply.
To assist is the asset classification and the contemplation of which standards

apply to the valuation of any particular asset, we have prepared a flow chart
which classifies assets for valuation purposes.
The nature of the asset dictates the required valuations and appropriate valuation
approach. Through the consideration of the tests noted at the right hand side of
the Flow Chart it is possible to identify the nature of the asset, the applicable
valuation standards, the required valuation and the appropriate valuation
approach.
The first test is to consider whether the asset is an Operational or Non

Operational Asset.

An Operational Asset is an asset considered requisite to the operations of a

going concern or corporation.
A Non Operational Asset is a surplus asset or one which is not considered

necessary to the production of goods or services which an entity produces but
which is held for investment, development or disposal or is used for some other
commercial purpose unrelated to the operation of the entity.
If an asset is established as an operational asset it is then necessary to consider

whether it is a Specialised Operational Asset or a Non Specialised
Operational Asset.
Specialised Operational Assets are defined as assets which are rarely if ever
sold in the market except by way of sale of the business or entity of which it is
part, due to the uniqueness arising from its specialised nature and design, its
configuration, size location or otherwise.
Non Specialised Operation Assets are those normally traded in an open

market place where market base price indicators are available to guide both
market participants and market observers.
Non Specialised Operational Assets should then be further classified as

Support Assets or Trading Unit Assets.
Support Assets are those assets which are common and regularly traded in the
market place which include examples such as offices, warehouses, shops and the
like.
Trading Unit Assets are those assets that generate an income or profit by their
operation and are traded in the open market place including Trading Hotels,
Hospitals, Casinos, Service Stations and the like.
Considering now the further classification of Non Operational Assets, these

may be classified as either surplus assets or property investment.

A Surplus Asset is an asset that is owned by an entity such as a corporation but

considered superfluous to the operations of that entity. A surplus asset is not
considered necessary to the production of the good or service that the entity
produces. It is held for development or disposal or used as security for a loan or
some other commercial purpose unrelated to the operation of the entity.
The market value of a Surplus Asset is determined by virtue of its Highest and
Best use.
A Property Investment Asset is defined as an asset owned by a corporation

and considered extraneous to the operational requirements of the corporate
owners. Land and or buildings held to earn a present or future rental income and
for the preservation or gain of capital value or both are considered investment
assets. An investment asset is not held for the use in production or supply of
goods and services, or for administrative purposes or for sale in the ordinary
course of business.
Our analysis charts for real estate and plant and machinery is provided below:
Preston Rowe Paterson

NSW Pty Limited
Phone: 61 02 9292 7400
Fax: 61 02 9292 7404 Operational Assets
Spec
Non Specialised
Operational Assets
AASB 116 - Property, Plant and Equipment

Our Track Record
2009 is Preston Rowe Paterson’s 21st year of operations as a property

consultancy and valuation service provider. Set out below is a photographic essay
of some of the significant and iconic properties which we have been involved with
our 21-year history.
Darling Park Office Development – Sydney NSW Ibis and Grand Mercure Hotels, Darling Harbour – Sydney
NSW
Valuation of NSW State Government’s interest in Darling
Park Valued for merger and acquisition purposes
Sheraton Four Points Hotel, Darling Harbour – Sydney Imax Theatre, Darling Harbour – Sydney NSW
NSW
Valued for financial reporting purposes
Valued for financial reporting purposes
Goodman Distribution Facility at St Marys – Sydney NSW Linfox Distribution Centre, Central Coast - NSW
Valued for financial reporting purposes Valued for annual reporting and financial reporting
purposes

Energy Australia’s Office Headquarters – Sydney NSW Entertainment Centre Hotel, Chinatown – Sydney NSW
Valued by Preston Rowe Paterson for financial reporting Valued for development finance purposes
purposes
Darling Harbour casual berthing marina – Sydney NSW South Steyne seabed rental, Darling Harbour – Sydney
NSW
Valued for rental setting purposes for State Government
Valued for rent setting purposes
Charter boat berthing facility, Darling Harbour – Sydney Gallerias Victoria – Retail podium and office tower –
NSW Sydney NSW
Outgoings estimates and separation consultancy

King Street Wharf, Darling Harbour – Sydney NSW Harbourside Festival Marketplace, Darling Harbour –
Sydney NSW
Retail valuation for rental setting and mortgage funding
purposes Valued for annual asset valuation and cash flow forecast
purposes
Paddy’s Market, HarbourCity Shopping Centre and the Gowings Building – Sydney NSW
Peak Apartment Tower, Chinatown - Sydney NSW
Rental setting and asset valuation purposes
Valued for development finance purposes
Corner of Pitt, Park and George Streets, Sydney NSW National Maritime Museum, Darling Harbour – Sydney
NSW
Compensation assessments for position relating to CBD Asset Valuation Consulting
Metro Rail Station

Sydney Aquarium and Wildlife World, Darling Harbour – Pyrmont Bridge, Darling Harbour – Sydney NSW
Sydney NSW Asset valuation for financial reporting
Rental setting of Darling Harbour charter boat wharves
and asset valuation
Sydney Convention Centre and Exhibition Centre, Tumbalong Park, Darling Harbour – Sydney NSW
Darling Harbour – Sydney NSW
Asset valuation for financial reporting purposes
Asset revaluation for financial reporting and merger
purposes between two State Government entities
Chinese Gardens, Darling Harbour – Sydney NSW Sydney Entertainment Centre, Chinatown – Sydney NSW
Asset valuation for financial reporting purposes Asset valuation for financial reporting purposes and
merger purposes

Australian Technology Park, Eveleigh - Sydney Qantas Jet Base, Qantas Drive, Mascot - Sydney
NSW NSW
Fair value valuation for financial reporting Valuation of jet base leasehold including office
buildings, hangars, maintenance buildings and
flight simulator buildings for due diligence/float
purposes
Keppel Bay Marina Resort Development, Rosslyn Gainsborough Greens, Pimpama - Gold Coast, QLD
Bay, Yeppoon - QLD
Valuation services for a master planned
Property advice on marinas, existing marina residential/commercial/golf community for first
units, proposed resort buildings and tavern mortgage/joint venture purposes
La Trobe, Beechworth – VIC Port Kembla Coal Loader

Valuation service for Market Value assessment Valuation of Government’s interest in coal loading
and marketing advice facilities subject to a head lease

Our People
Gregory Preston
Position: Director - Sydney
Qualifications:
• Fellow of the Australian Property Institute

• Bachelor of Commerce
• Associate Diploma in Real Estate Valuation
• Certified Practising Valuer
• Registered Real Estate Valuer No. 2391 (NSW) (Without Limitations)
• Registered Real Estate Valuer No. 1769 (QLD) Urban
• Licensed Real Estate Agent and Stock and Station Agent No. 217394
• Real Estate Practice Certificate
• Real Estate Auctioneers Certificate
• Stock and Station Agents Certificate
• NSW State President, Australian Property Institute 2004
• National President , Australian Property Institute 2007-2008;
• Chairman, Australian Property Institute, PI Insurance Sub-committee 2003-
2006
• Chairman, API National Professional Board 2004-2006
• Chairman, Australian Property Institute National Finance Board – 2005-2006
• Current NSW Divisional Councillor – Australian Property Institute
• Current National Councillor Australian Property Institute
Experience:
1988-Present - Preston Rowe Paterson NSW Pty Limited

Activities – Director
Gregory Preston is a founding director of Preston Rowe Paterson NSW Pty Limited.
His activities include valuation and consultancy of complex retail, commercial,
industrial, residential, hotel and special purpose properties. He has also
developed many computer based valuation models, which are adapted in most
Preston Rowe Paterson Professional Services, and is responsible for co-ordinating
the firms research services. Gregory is also responsible for fostering existing and
new Valuation and Consultancy business and development of the firm's corporate
strategy at a local and national level through liaison with Preston Rowe Paterson's
Australian offices.
1987-1988 - Richard Stanton (NSW) Pty Limited (Sydney)

Activities - Investment Agency and Consultancy
From 1987 to 1988 he was employed at Richard Stanton (NSW) Pty Ltd in the
Valuation and Consultancy divisions to serve trust, institutional and private
investors and developers in acquisitions and disposals. Prominent assignments
included valuation and investment strategy/negotiation for the acquisition of
Sydney properties, including the Wynyard Centre and the ANA/Lillyvale Hotel.

1983-1987 - Colliers International Property Consultants (Sydney)

Activities - Valuer, Investment Agency and Auctioneer
From 1983 to 1987 he was employed as a Valuer and Consultant at Colliers

International Property Consultants. Experience included valuation and
consultancy of a diverse range of properties including CBD office buildings,
international hotels and resorts, retail shopping centres, industrial investment
properties, and to a lesser extent, rural properties. He gained extensive
experience in computerised spreadsheet modelling including Property
development feasibilities, discounted cash flows, term and reversion and
regression analysis.
During 1986 he was seconded to Colliers International Investment Agency Division

as a Consultant and Auctioneer at Colliers Sydney offices.
1979-1983 - Knight Frank (Formerly Hardie & Gorman) (Sydney)

Activities - Asset Performance Manager
From 1979 to 1983 Gregory Preston was employed as a Property Investment

Manager at Hardie & Gorman. Experience included management and
refurbishment of Sydney Central Business District (CBD) and metropolitan
investment properties.
Gregory Rowe
Position: Director - Sydney
Qualifications:
• Fellow of the Australian Property Institute.

• Bachelor of Business (Land Economy)
• Certified Practising Valuer (Plant & Machinery)
• Registered Real Estate Valuer No. 2601 (NSW) (Without Limitations)
• Licensed Real Estate Agent No. 250250
• Licensed Strata Managing Agent No. 250250
• Current Member – National Educational Committee, Australian Property
Institute
Experience:
1991-Present - Preston Rowe Paterson NSW Pty Limited (formerly

Preston Rowe)
Gregory Rowe is a director of Preston Rowe Paterson NSW Pty Limited and is
actively involved in all areas of asset management. He is responsible for the day
to day operation and marketing of this division of the firm. In this role, Gregory is
not only responsible for client liaison and development, but is also actively
involved in assisting the firm’s asset managers in day to day business.
Given Gregory’s expertise and experience in asset management, he is in a

position to provide a level of strategic advice with respect to either individual
assets or alternatively more complex and all encompassing operations.


Gregory is also responsible for the day to day administrative functions of Preston
Rowe Paterson’s Sydney office including trust accounting.
1986-1991 - Colliers International Property Consultants (Sydney)

Activities - Valuation, Consultancy and Investment Agency
From 1986-1991 Gregory Rowe was employed by Colliers International Property

Consultants Pty Limited in the Valuation and Investment Divisions. Valuation
experience has included CBD office buildings, hotels, commercial and industrial
investments, owner occupied properties, retail centres, specialised properties and
feasibility analysis of projects.
Between 1988 and 1989 Gregory Rowe was involved on a full time basis in the
sale and lease back of Commonwealth Bank properties. Approximately 150
properties were inspected, marketed and all were sold. Outside of his
responsibilities with portfolio auctions he has marketed investment properties
within the institutional and private investor markets. Experience has been gained
in both the Sydney CBD, North Sydney CBD and Metropolitan areas overall.
He has gained considerable experience in computerised spreadsheet modelling,

including Discounted Cash Flow Analysis and Development Feasibilities.
Damian Kininmonth
Position: Director – Melbourne
Qualifications:

• Associate Diploma Valuations
Experience:
Damian has a twenty year history in the residential and commercial markets
across Melbourne through his extensive mortgage valuation experience acting for
a number of major commercial and retail banks and lending institutions. In the
course of his career Damian has undertaken the role of expert witness under a
number circumstance within the dispute resolution process. He has acted for local
Government agencies in their acquisition and disposal programs and worked for a
number of Commonwealth agencies in the same capacity. Damian has
undertaken extensive work in the field of hypothetical subdivisions for
development clients for lending purposes. Damian has worked with a number of
private clients in an advisory capacity in multi use projects in terms of tenant mix.
In 1996 Damian joined Ellis Property Group as a Director with the vision of
developing a national valuation practise catering for the needs of all property
users. This vision has been realised with the merger of Ellis Property Group with
Preston Rowe Paterson in 2007. Damian was instrumental in the development of
the national common valuation platform and the framework for the development
of the franchising model of valuation practices.

Neal Ellis
Position: Director – Melbourne
Qualifications:
• Associate of the Australian Property Institute.

• Associate Diploma Valuations
Experience:
Neal has 20 years experience in property valuation and consultancy across

Victoria, and has recently become a Director of PRP Australia and Melbourne.
Neal’s experience covers areas of valuation including commercial, industrial and
residential. Neal has expertise in Metropolitan Melbourne as well as the
Mornington Peninsula. He has acted for local and state Government agencies with
their acquisition and disposal programs and undertaken audit assessments for
State Revenue Office, he has worked for a number of Commonwealth agencies in
the same capacity. Neal has extensive mortgage valuation experience and has
undertaken work in the field of hypothetical subdivisions for development clients
for lending purposes.
In 1996, Neal along with fellow director Damian Kininmonth, commenced Ellis
Property Group which in 2007 merged its practice with Preston Rowe Paterson.
Neal is looking forward to participating in the continuing evolution and
advancement of the valuation industry at PRP. Neal is an Associate of the
Australian Property Institute.
Rex Stafford
Position: Commercial Manager- Melbourne
Qualifications:

• Certified Practising Valuer.
• Associate Diploma Valuations.
• Registered Valuer- NSW 2128
• Registered Valuer- QLD 3054
Rex has had a career spanning over thirty five years with the last 20 years being
mainly concentrated in the commercial, retail and industrial markets. He has
valued major office buildings and retail developments including most of the DFO
retail developments in Australia.
He has worked with the valuation departments of the Commonwealth Bank in both
Perth and Sydney and was one of five founding shareholders of the listed
valuation company Landmark White Limited.
Rex has extensive experience in computerised spreadsheet modelling especially

discounted cash flows and development feasibilities.
He has experience as an expert witness in the Supreme Court and has advised
major institutional clients on value optimisation strategies for their property
portfolios.

Major properties valued by Rex in recent years include the following;
• DFO retail/Homemaker Hub developments in Victoria

, NSW and Qld.
• 80 Collins Street Melbourne
• 121 Exhibition Street Melbourne
• 321 Exhibition Street Melbourne
• 18-38 Siddeley Street Docklands (World Trade
Centre).
• 601 Bourke Street Melbourne.
• 520 Collins Street Melbourne.
Darren William Evans
Position: Director – Ballarat
Qualifications and Memberships:
• Associate Member of The Australian Property Institute

• Associate Diploma of Valuations, Royal Melbourne Institute of Technology
• Associate Member of the Real Estate Institute of Victoria
• Licensed Estate Agent
• Graduate Diploma in Applied Finance and Investment, Securities Institute
Experience:
Darren has been involved in the Valuation Industry for 20 years and in this time
has developed a broad and diverse level of experience in all facets of the
property profession. Commencing at local government level, Darren then
represented a number of firms undertaking valuations throughout the Melbourne
Metropolitan area for a wide range of clients covering all property types. During
this time he also gained valuable exposure to non-metropolitan markets, with
several interstate and regional valuation assignments being undertaken.
Being drawn back to the country, Darren then established a boutique valuation
and Estate Agency practice in Ballarat, where he has forged strong working
relationships and developed a comprehensive understanding of the local property
market whilst ensuring the delivery of a client focused, professional property
service. Identifying a demand from an existing client base and recognising growth
opportunities in non-metropolitan regions, Darren joined the Ellis Property Group
network to compliment and enhance the provision of a service driven valuation
and consultancy practice. Ellis Property Group (Ballarat) was established in
September 2002.
In late 2006 Ellis Property Group started the search for ‘like minded’ valuation
firms nationally who shared the same vision. In early 2007 after discussions with
many groups, firms and individuals the Directors of Ellis Property Group felt that
merging with the successful and highly regarded multi office network Preston
Rowe Paterson would lead to the implementation of our vision. What will be
different will be the impact of a truly international valuation firm on the
Australasian property scene. This merger will for the first time provide our clients
with a valuation firm with expertise across all property types in all geographic
locations and allow you to receive uniform reporting and access to information
through one IT platform. It is our desire to be the premier property group in
Australasia and through the resources and commitment of the Directors of the
individual offices that make up Preston Rowe Paterson, we will have a National

Directorate that will ensure the highest standards of professionalism and service
in Australasia.
Robert Simmons
Position: Director - Adelaide
• Bachelor of Applied Science in Property Resource Management (Valuation)

(1986)
• Associate Diploma in Surveying (1977)
• Certified Practicing Valuer
• Associate of the Australian Property Institute
• API Membership Committee (SA)
• University of NSW (Executive Management Course) 1994
Rob has over 30 years experience in the real estate and finance industry with a
broad range of valuation experience in both the public and private sectors.
Key Expertise
• Supermarket & retail rental assessments ;
• Corporate real estate advisory;
• Property development and feasibility studies;
• Senior management experience within banking industry;
• Cadastral surveying and property management
• Mortgage valuations of Residential & Rural property;
• Mortgage valuations of Commercial, Industrial and other non residential
property;
Relevant Assignments
Rob has been involved with a broad range of projects which include:
• Residential portfolio valuations for various investors
• Portfolio valuations of major brand supermarkets;
• Asset valuations for SA Government - Health
• ‘Port’ Lincoln Cove Marina investment assessment
• Various suburban land division & residential developments within Adelaide
including feasibility studies and project committees;
• Strategic valuation, sales and leasing advice relating to commercial ‘problem’
loan management of major commercial properties in Adelaide CBD,
Melbourne, Darwin & Gold Coast
• Serviced apartment development in Adelaide CBD including feasibility studies
and project committees;
• Retail development in Jetty Road, Glenelg including feasibility study, tenant
relocation and project management;
• Major medical centre development in Melrose Park Inner southern suburb)
including feasibility studies and project committee
• Retirement village development within Adelaide and Gold Coast including
feasibility studies and project committees;

Experience:
Rob commenced his career with the State Transport Authority (SA Government
Instrumentality) as a Survey Draftsman in 1977. His role was to identify all surplus
property and assist with its disposal or leasing The State Transport Authority had
inherited a huge quantity of land and housing as a result of the separation of the
former South Australian Railways into national and state authorities. In 1980 he
commenced the Valuation degree course part time at the SA institute of
Technology (now the University of SA). He progressively became more involved
with property valuation assisting his manager at the time, Mr Robert Smith (Valuer
& Executive Property Manager). They continued the huge task of managing and
selling off surplus property. In addition, they had a major role in acquisition work
for the North-East Busway project.
In 1985 upon nearing the end of the valuation course, Rob gained employment
within the Valuations Department of the Adelaide Head Office of the
Commonwealth Bank. It was a quick learning curve for Rob as he was expected to
value all types of property. This included major office buildings, regional shopping
centres, city and country hotels & motels, proposed land divisions and major
industrial developments.
In late 1987, Rob was offered the position of Valuations Manager of the Co-
operative Building Society. It was an exciting and challenging time with the Co-op
merging with Hindmarsh Building Society (1992) and converting to a Bank in
1994. At first, Rob had to establish a Valuations Department which could service
the growing number of residential mortgage valuations required. In addition, as
his department adjoined the newly created Commercial Lending department, he
was able to offer his services as a Commercial Valuer.
During the late 1980’s and early 1990’s, he was actively involved in numerous
development feasibility studies and retirement village valuations as the building
society has significant interests in these areas. In 1994, Rob was offered a Senior
Management position which involved management of several allied departments
including Valuations, Settlements and Loan Documentation. He also chaired two
major projects within the Bank at that time (ie Consumer Credit Code working
group & Head Office Refurbishment/Relocation project team).
In 1996 was encouraged to challenge his management skills and made Senior
Manager - Insurance and Direct Marketing. His departure from property was brief,
leaving the Bank at the end of 1996.
In November 1996, Rob commenced trading as Rob Simmons & Associates

offering principally a mortgage valuation service to the finance industry. Rob
secured panel appointments to many of the South Australian lending institutions.
His company has retained most of these appointments since 1996 and has
maintained an enviable reputation in providing accurate valuations and quick
turnaround. Rob has been seeking an opportunity to join a national Property
Valuation franchise since 2003 and has had discussions with several groups. When
the Preston Rowe Paterson Adelaide franchise became available in 2008, Rob was
keen to investigate. By joining the group, Rob has resolved to diversify and grow
his business to become a significant player within the competitive Adelaide
property services industry.

Stuart Paterson
Position: Director - Perth
Qualifications:
• Member of the Australian Property Institute

• Licensed Valuer for Perth No 380
• Licensed Real Estate Agent
• Associate in Land Economy
Experience:
1993 - Present – Paterson Property Consultants

Activities - Director, Valuation and Consultancy.
Stuart established Paterson Property Consultants in November 1993. Situated at

297 Hay Street, East Perth, Perth. Offering a broad spectrum of valuation services
to fulfil requirements of clients, being predominantly investors, financiers,
accountants and solicitors. Ongoing property consultancy, with emphasis on
maximising investment returns through acquisition, management and
development.
1991 – 1993 – David Barnao & Co

Activities – Partner
Stuart carried out a broad spectrum of valuation assignments including

commercial valuations and the development of a consultancy role with emphasis
on acquisition and management of commercial investment properties.
1984 – 1991 – R & I Bank (now BankWest)

Activities – Manager of Valuation Services
Stuart gained bank valuation experience having been largely oriented towards
financing commercial property and the respective valuation advice.
Other matters included acquisition and disposal of properties for Bank purposes,
consultation and negotiating the Bank’s rent reviews for banking premises, and
acquiring additional premises to be leased from other parties.
Additionally, Stuart had considerable involvement with negotiations to dispose of

properties for mortgagee sale purposes.
As the most senior Valuer, the majority of valuations Stuart undertook for complex
and specialised properties, including licensed premises, caravan parks and
subdivision proposals.

1981 – 1984 – Peet & Co

Activities – Valuer, Investment Sales Consultant
Private enterprise experience has entailed valuing a wide range of properties from
residences to large industrial retail and office developments.
Much of this experience gained by Stuart has been related to valuations for
finance purposes, as well as legal disputes, development proposals and
independent valuations for prospective purchasers/vendors, asset valuations for
company records, take overs, transfers and consultation on property portfolios for
large corporate clients.
In conjunction with valuation assignments, Stuart was engaged as an Investment

Sales Consultant, which involved selling and leasing of commercial properties.
1973 – 1981 – State Taxation Department – Valuer General’s Office
During Stuarts’s employment with the valuer General’s Office he valued a wide
range of properties for the following purposes:
• Rating, gross rental values, capital values and site values.

• Valuations for transactions on behalf of various Government Departments, (ie.
State Housing Commission, Lands Department, State Electricity Commission).
• Reviews of leases for building and ground rentals, i.e. WAGR and Subiaco
Council.
• Capital valuations for stamp duty, probate duty, Local Government Authorities
and compensation and resumption valuation.
The scope of his experience with the Valuer General’s Office ranged from
providing detailed specific valuations as above, in suburban areas, through to
valuing every property within some local authority town sites for rating purposes.

Chris Kogler
Position: Director – Gold Coast
Qualifications:

• Registered Urban Valuer Queensland 1548
• Registered Urban Valuer NSW 3232
• Bachelor of Business Management (QIT 1976)
Experience:
September 2001 – Present – PRP Valuers and Consultants Gold Coast Pty
Limited
Chris is the Director of the Gold Coast office which commenced trading on 17
September 2001. We continue to provide comprehensive valuation services.
February 2000 – September 2001 – SHP (Gold Coast) Pty Limited

Activities – Director, Valuer
As Director, Chris was involved in the initial setting up of the company and
assisted with the normal running of the company’s administrative promotional and
valuation consultancy activities. SHP (Gold Coast) Pty Limited provided valuation
services for Stantons (QLD) Pty Limited as their Gold Coast office. Major valuation
appointments include Westpac Bank residential panel valuations.
1992-2000 – Kogler & Company Valuers

Chris conducted valuations for all purposes and included Queensland Government
(Department of Housing, Queensland Rail, Emergency Services), Gold Coast City
Council as well as retail and commercial lenders.
1988-1992 – Kogler Herriott Valuers Pty Ltd

1984-1988 – Denis Pie Valuers

Activities – Senior Valuer

1978-1984 – Dolby & Rankine Real Estate, Surfers Paradise

Activities – General Manager
Chris worked for this long established family owned real estate agency, opposite
the Paradise Centre, specialising in residential and commercial sales as well as
residential and commercial leasing.
Daniel Hogg
Position: Director – Albury Wodonga
Qualifications and Memberships
• Bachelor of Land Economics at University of Technology, Sydney

• Certified Practicing Valuer (CPV)
• Associate Australian Property Institute (AAPI)
Experience:
2006 – 2008 - Ernst & Young, Canberra

Manager, Real Estate Advisory Services
In his role as Manager for Real Estate Advisory Services, Daniel was involved with:
• Preparation of Advice relating to the Commonwealth Department of Health

and Ageing its commercial terms for its new commercial accommodation
• Real estate advice on the transfer of Environmental lands on behalf of Albury
Wodonga Corporation and Department of Finance and Deregulation
• Real estate feasibility studies and valuations for the Department of Prime
Minister and Cabinet and the Department of Defence
• Corporate Real Estate Benchmarking studies for state government agencies
such as the ACT Land Development Agency and LandCorp;
• Asset management advice - formulation of divestment options for a large
institution;
• Concept development and detailed feasibility studies, including discounted
cash flows modelling on land subject to the Airports Act ;
• Technical valuation reviews as part of an audit review process of an hotel,
commercial office and retail accommodation;
• Valuation of Retirement Villages (under the supervision of Marcus Willison,
National Partner, Real Estate Advisory Services);

2000 - 2006 - Cosgraves Valuers, Albury-Wodonga

Property Valuer
During his time with Cosgroves Valuers in Albury Wodonga, Daniel worked on
several valuation projects including:
• Completion of mortgage valuations for commercial, alpine, industrial, rural

and hospitality properties;
• Advice for the acquisition and disposal of property for developers and
government departments;
• Concept development and detailed feasibility studies, including discounted
cash flows and financial modelling for englobo developments;
• Completion of valuation reports prepared for taxation purposes including
Capital Gains Tax, Goods and Services Tax – Margin Scheme,
• Expert Witness Valuation for Matrimonial and Rating purposes;
• Other Valuation reports included assessments for compulsory acquisition
(including easements), strata and community subdivisions (unit
entitlements), and asset valuations for financial reporting purposes;
2003 - Rotch Property Group, London

Acquisition Manager
In his role as Acquisition manager for Rotch Property Group, Daniel provided
property services for the acquisition of various portfolios of leasehold and freehold
properties throughout the United Kingdom.
1998-2000 - Millers Storage a subsidiary for Security Capital

Property Analyst
As a property analyst with Millers Storage, Daniel was involved with both
transaction and development management through to the handover of facility to
operation as well as several key projects such as site selection and underwriting of
industrial and commercial properties for board approval concept development and
detailed feasibility studies, including discounted cash flows and financial modelling
for englobo developments.
Tim Barlow
Position: Director – Gippsland
• Bachelor of Business (Property)

• Associate Member of The Australian Property Institute AAPI 1805
Tim is a Director of the PRP office in Gippsland which was established in February
2004, along with his fellow director, Alex Ellis. He has extensive Residential,
Rural, Industrial and Commercial experience throughout the Gippsland region and
has acted for a wide range of private clients and completed valuations for a
variety of purposes. He is also a compensation specialist acting throughout
Victoria and completing major portfolio assignments. Prior to moving to
Gippsland Tim worked for a large Melbourne based valuation practice for 6 years.
During that time he was involved with valuing properties throughout Metropolitan
Melbourne.

Alex Ellis
Position: Director – Gippsland
• Bachelor of Business (Property)

• Associate Member of The Australian Property Institute AAPI 1938
Alex is a Director of the PRP office in Gippsland which was established in February
2004, along with her fellow director, Tim Barlow. She has over 10 years
experience in property valuation in Metropolitan Melbourne in both large valuation
practices and Local Government and has been focused on the Gippsland Region
for the past 7 years. Alex also spent several years in Sydney in Asset
Management and Acquisitions for a State Government Department. She has
extensive mortgage valuation experience and has acted for a wide variety of
clients completing valuations of rural, residential and commercial property for
numerous purposes.
Wayne Casey
Position: Director - Illawarra
• Associate Diploma of Valuation (1977)

• Registered Practising Real Estate Valuer No. 2214 (NSW) (Without
Limitations)
• Chairman of the API South Eastern Study Group 1993-1995
• Justice of the Peace No.144177
Wayne has over 30 years experience in the real estate industry with a broad
range of valuation experience in both the public and private sectors. Wayne has
provided property valuation and consultancy services for Statutory and Non
Statutory Valuations including assessments for specialist valuations in compulsory
acquisition, non-freehold tenures in property e.g. Life interests & leaseholdings,
mortgage valuations, family law valuations, stamp duty, capital gains, rating
purposes and valuations for taxation purposes; Objections to Valuer Generals
Land Values; Commercial office and industrial rental assessments; Hotel, Motel
and Licensed Club Valuations; Corporate real estate advisory; and Property sales
and leasing transaction advisory.

Key Expertise:
• Property valuation in commercial and industrial property, including

specialised properties such as hotels, motels, licensed clubs, caravan parks,
service stations, truck/storage facilities, etc;
• Feasibility studies of subdivisions of residential and industrial lands.;
• Feasibility studies of residential unit developments;
• Feasibility studies of industrial complex developments;
• Valuation assessment of Progress Payments for properties under
construction;
• Valuation assessment of Compensation in relation to acquisition and
resumptions by Government Instrumentalities;
Wayne has been involved with a broad range of projects including:
• Total and Partial Acquisition of Residential, Commercial, Industrial and Rural

property for New South Wales RTA (DMR);
• Feasibility studies of many residential unit developments including a 60 unit
residential development overlooking Wollongong Golf Course & a 24 unit
residential development overlooking Wollongong Harbour;
• Valuation of leasehold Go-Kart racing circuit;
• Valuation of various agricultural properties;
• Extensive number of mortgage valuations within the Illawarra and NSW
Southern Highlands Regions;
• Valuation of Trucking/Storage Facility in North Wollongong.
• RSL Club in Northern Wollongong Suburbs comprising two licensed club
buildings, parking areas and bowling greens.
• Valuation of car wash facility.
• Valuation of Bulky Goods Retailing Properties eg. “Harvey Norman” in King
Street Warrawong.
Experience:
Wayne commenced his career with the NSW Department of Main Roads in 1974
as an assistant valuer and carried out valuations of the compensation for
properties that were acquired for road purposes. He valued progressively more
complex properties and tenures over the whole of the state and continued until
1987 gaining his final position as the senior valuer in the Illawarra Division’s
Wollongong office. Main Road Widening, Realignment, and Relocation and the
path of New Main Roads affects almost every conceivable type of Real Estate.
The expertise obtained by valuers engaged by a road authority is therefore as
varied and complex as any valuer and the political sensitivity of the compulsory
taking of property demands the highest quality of valuation process.
He then purchased a shareholding in the business of J.M. Bell & Assoc. which had
been established for over 20 years in Wollongong. This firm carried out the full
range of valuation services to a wide range of clients mainly from the Illawarra,
NSW South Coast and Southern Highlands. The company sought the more
complex valuations having a high degree of expertise. The majority of valuations
carried out were for Lending Institutions’ mortgage purposes and included a wide
range of properties with feasibility, subdivision, development, and specialist
property valuations often undertaken.

In 1995 he started his own valuation company in Wollongong and then in 2001
Andrew Wilson joined him as a partner;
In 2009 Wayne became a director / valuer of Preston Rowe Paterson Illawarra Pty
Ltd.
Andrew Wilson
Position: Senior Valuer - Illawarra
• Bachelor of Business (Land Economy)

• Registered Practising Real Estate Valuer No 2881 (NSW) (Without
Limitations)
• Stock and Station Agent
• Auctioneer (General)
• Member of HIA
Andrew has over 25 years experience in the real estate industry with a broad
range of valuation experience. Andrew has conducted specialist valuations in
mortgage valuations, family law valuations and valuations for taxation purposes;
Preparation of Land Valuations for objections to Valuer General’s Land Values.
Valuations for Local Government Authorities;
Development feasibility; and Property sales and leasing transaction advisory.
Key Expertise:
• Property valuation in commercial and industrial property, including

specialised properties;
• Rental Analysis;
• Feasibility studies for residential unit, townhouse and villa developments;
• Valuations in industrial factories and warehouses;
• Property management;
• Management of Construction Projects as the Licensed Builder;
• Preparation of Building defect, dilapidation, depreciation and SCOTT
Schedules;
Relevant Assignments:
Andrew has been involved with a broad range of projects including:
• Residential, Commercial, Industrial land valuations ;

• Market Valuations of various Commercial retail outlets;
• Extensive number of mortgage valuations within Illawarra and southern
highlands;
• Valuations of various agricultural properties;
• Large Rural properties within the Illawarra and Southern Highland Region;
• Collection and analysis of information for formulation of design criteria for St.
George Hospital, valuations of the small holdings to be amalgamated into
the development site and valuation of completed suites;

Experience:
Andrew is a senior valuer for Preston Rowe Paterson Illawarra. He started out his
career 25 years ago obtaining a Real Estate Licence, completing a Bachelor of
Business (Land Economy ), becoming an Associate of the Australian Property
Institute and a Certified Practicing Valuer.
In 1984-1986 Andrew was a sales consultant for Elders Real Estate he then
furthered his career in real estate and from 1986-1987 he joined the Hermans
Real Estate Group specializing in property management.
From 1989-1991 he joined Jackson Casey and Bell Valuers Pty Ltd, as a valuer.
1992-1993 Andrew worked with The Wool Shed Work Shop as a carpenter and in
1995 he worked as a valuer with Casey and Co Valuers. In 2001 Andrew went into
partnership in Australian Certified Valuers Pty Limited whilst also venturing out
into building and development with a partnership in Ecomax Developments Pty
Limited.
Andrew has been with Australian Certified Valuers and Ecomax for the past 8
years until becoming a senior valuer in the nationwide franchise of Preston Rowe
Paterson.
Gareth Kent
Position: Director - Geelong
• Bachelor of Business (marketing)

• Diploma in Quantum Mathematics
• Graduate Diploma in Property (Valuation) RMIT
• Certified Practising Valuer No. 4013 (Vic) (Without Limitations)
• Agents Representative Licence Real Estate
Gareth Kent has 6 years experience in the Valuation industry with a broad range
of valuation experience in the private sector. Gareth has experience in the
following diverse areas of Statutory and Non Statutory Valuations including
assessments for specialist valuations in compulsory acquisition, mortgage
valuations, family law valuations, stamp duty, capital gains, rating purposes and
valuations for taxation purposes; Objections to Valuer Generals Land Values;
Objections to Acquisition claims representing land holders and private enterprise,
Commercial office and industrial rental assessments; Property sales and leasing
transaction advisory.
Key Expertise:
• Property valuation in Residential, commercial and industrial property, with

key experience through Geelong and the Bellarine Peninsula for over 30
years.
construction;


resumptions by Government Instrumentalities;

A selection of projects which Gareth has been involved with include:
• Valuation of prestige housing within Toorak, Brighton and South Yarra

• Represented Land holders in Acquisition disputes with Barwon Water.
• Valuation of various agricultural properties;
• Extensive number of mortgage valuations within the Geelong, surf coast,
Golden plains and the Bellarine Peninsula .
• Extensive number of mortgage valuations within Melbourne’s North and
Western Suburbs .
• Family Law Valuation work
• Consultant for local Developers in Marshall Road development.
Experience:
Gareth grew up in a property family as his father is a qualified Valuer and his
mother a Licensed Real Estate Agent. Gareth grew up in Geelong and obtained a
bachelor of business before entering the Valuation industry in 2003. Throughout
the next 3 years Gareth worked full time for First Valuation Group, a small
Brighton based firm providing high end prestige valuation work for a range of
lenders and developers. Gareth completed his qualification in 2007 and was
admitted as an Associate to the Australian Property Institute.
Gareth gained employment with Herron Todd White where he worked for a year
before moving back to his home town of Geelong to join his father in the Family
Valuation business. Gareth became director of the business in late 2008 and has
brought his experience back to the family business and the technology to provide
his clients timely accurate advice.
Robert J Kent
Position: Director - Geelong
• Diploma Real Estate Management (RMIT) 1967

• Victorian Valuation Board Certificate (1968)
• Certified Practising Valuer No. 1138 (Vic) (Without Limitations)
Robert has over 41 years experience in the real estate industry with a broad
range of valuation experience in both the public and private sectors. Robert has
experience in the following diverse areas: Statutory and Non Statutory Valuations
including assessments for specialist valuations in compulsory acquisition,
mortgage valuations, family law valuations, stamp duty, capital gains, rating
purposes and valuations for taxation purposes; Objections to Valuer Generals
Land Values; Commercial office and industrial rental assessments; Corporate real
estate advisory; and Property sales and leasing transaction advisory.

Key Expertise:
• Property valuation in Residential, commercial and industrial property, with

key experience through Geelong and the Bellarine Peninsula for over 30
years.
construction;
resumptions by Government Instrumentalities
Experience:
Robert commenced his career working for the Northcote city as a municipal
Valuer in 1968. Robert was commissioned as the youngest ever valuer to hold the
role as “City Valuer” for the shire of Northcote at the age of 21 in 1970. His
valuation experience was expanded by the portfolio where he was responsible for
the valuation of all types of properties within the shire boundary including
specialist properties such as queries, motels, hotels and going concerns. Robert
then moved his family to Meredith and worked for Roger Travascus and
Associates as a Senior Valuer for a number of years before establishing his own
business within Geelong in 1983.
Robert’s business has mostly been as a small consultancy for mortgage lenders
such as Pyramid building society, Bendigo bank, Westpac, ANZ and
Commonwealth Bank. After the collapse of the Pyramid building society many of
the small lending services where consolidated by the commonwealth bank and
Robert was commissioned as the Panel Valuer for the Commonwealth bank within
the Geelong area. As a result Robert decreased his other work and focused as a
Commonwealth Bank Panel Valuer, of which was seen in those days as recognition
of his experience and proven track record of excellence in his work.
In 1999-2001 Robert branched out from Mortgage work by winning the tender to
conduct the Golden Plains Municipal valuation. In 2009 Robert became a
Director / Valuer of Preston Rowe Paterson Geelong Pty Ltd.
Robert Dupont
Position: CEO/Director - Newcastle

• Member Property Council of Australia
• Honorary Life Member – Surveyors Institute of Zambia
Experience:
Robert has over 35 years experience in the real estate industry with a broad
range of valuation experience. Robert has experience in the following diverse
specialist areas: Major developments including shopping complexes, large

apartment complexes, mining, industrial, litigation, compensation, development

finance, specialist valuations including golf courses, marinas and vineyards.

David Rich
Position: Director - Newcastle
• Member of the Australian Property Institute

• Member of the Property Council of Australia
• Associate Diploma Business (Valuation)
• Advanced Certificate in Real Estate
Experience:
David has over 18 years experience across a wide range of industry related areas
including commercial and industrial real estate. He has had extensive experience
working with statutory bodies and multinational organisations. David has
experience in the following specialist areas: Industrial, commercial, retail,
subdivisions, aged care housing.
Joshua Smith
Position: Director – Newcastle
• AAPI (Certified Practising Valuer)

• Advanced Diploma of Property Valuation
• Registered Real Estate Valuer, Number 7032
• Diploma of Business (Real Estate Management)
• Certificate IV in Business (Real Estate Sales)
• Certificate IV in Business (Property Management)
Experience:
Specialising in the rural section of the market Joshua has extensive knowledge in
Horse Studs, grazing/farming country and Vineyards. Outside of the rural market
Joshua also conducts valuations throughout the Hunter Valley for acquisitions,
residential development sites, taxation, family law and compensation matters.

Contact Us
Head Office
Level 11, 80 Clarence Street

Sydney NSW 2000
Ph: +61 2 9292 7400
Fx: + 61 2 9292 7403
Directors
Greg Preston Mobile: 0408 622 400
Greg Rowe Mobile: 0411 191 179
Damian Kininmonth Mobile: 0417 059 836
Neal Ellis Mobile: 0417 053 116
Adelaide
Suite 4, 2a Daws Road

Ascot Park SA 5043
Ph: +61 8 8277 0500
Fx: + 61 8 8277 0533
Email: Adelaide@prpvaluers.com
Director
Rob Simmons Mobile: 0418 857 555
Albury Wodonga
Level 1, Suite 4
520 Swift Street
Albury NSW 2640
Ph: +61 2 6041 1362
Fx: + 61 2 6100 2745
Email: Daniel.hogg@prpvaluers.com
Director
Dan Hogg Mobile: 0408 585 119
Ballarat
27 Doveton Street North

Ballarat VIC 3350
Ph: +61 3 5334 4441
Fx: + 61 3 5334 4501
Ballarat@prpvaluers.com
Director
Darren Evans Mobile: 0417 380 324
Brisbane

Suite 3, Level 1
156 Boundary Street
West End QLD 4101
Ph: +61 7 3846 2822
Fx: + 61 7 3846 2833
mailroom@prpqueensland.com.au
Director
Troy Chaplin Mobile: 0419 029 045
Central Coast
Suite 4, Level 1
119 Mann Street
Gosford NSW 2250
Ph: +61 2 4324 0355
Fx: + 61 2 4324 0356
mailroom@prpcch.com.au
Directors
Robert Dupont Mobile: 0418 681 874
David Rich Mobile: 0413 052 166
Geelong
Suite 17/ 248 Latrobe Tce

Geelong Vic 3218
Ph: + 61 3 5221 9511
Fx: + 61 3 5221 2265
geelong@prpvaluers.com
Director
Gareth Kent Mobile: 0413 407 820
Gippsland
Suite 3, Powlett Arcade

33 McBride Avenue
Gippsland VIC 3995
Ph: +61 3 5672 4422
Fx: + 61 3 5672 3388
gippsland@prpvaluers.com
Directors
Tim Barlow Mobile: 0400 724 444
Alex Ellis Mobile: 0407 724 444
Gold Coast
PO BOX 9280
Gold Coast Mail Centre QLD 9726
Ph: +61 7 5574 2599

Fx: + 61 7 5574 2533

mailroom@prpgoldcoast.com.au
Directors
Chris Kogler Mobile: 0418 753 436
Ray Allsop Mobile: 0414 787 267
Michael Cook Mobile: 0427 723
Mornington
Factory 17, 1140 Nepean Highway

Mornington VIC 3931
Ph: +61 3 5975 0480
Fx: + 61 3 5975 0427
mornington@prpvaluers.com
Director
Melbourne
Level 3, 482 Bourke Street

Melbourne VIC 3000
Ph: +61 3 9602 1333
Fx: + 61 3 9602 1337
melbourne@prpvaluers.com
Directors
Damian Kininmonth Mobile: 0417 059 836
Newcastle
98 Hannell Street
Wickham NSW 2293
Ph: +61 2 4922 0600
Fx: + 61 2 4922 0688
newcastle@prpvaluers.com
Directors
Robert Dupont Mobile: 0418 681 874
David Rich Mobile: 0413 052 166
Joshua Smith Mobile: 0412 099 908

Perth
Level 1, 46 Hill Street

East Perth WA 6004
Ph: +61 8 9221 1188
Fx: + 61 8 9221 1711
valuations@prpwa.com.au
Directors
Stuart Paterson Mobile: 0419 943 835
Sydney
Level 11, 80 Clarence Street

Sydney NSW 2000
Ph: +61 2 9292 7400
Fx: + 61 2 9292 7403
mailroom@prpnsw.com.au
Directors
Greg Preston Mobile: 0408 622 400
Greg Rowe Mobile: 0411 191 179
Associate Directors
Robert Timmermans Mobile: 0448 656 638
Neal Smith Mobile: 0448 656 647
Ben Greenwood Mobile: 0448 656 103
Ben Toole Mobile: 0448 886 335
Wollongong
71 Market Street
Wollongong NSW 2500
Ph: +61 2 4229 5117
Fx: + 61 2 4229 5227
Wayne.casey@prpvaluers.com
Director
Wayne Casey Mobile: 0412 422 665
For further information, please visit our website www.prpaustralia.com.au or

contact Head Office on (02) 9292 7400.
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CORPORATE PROFILE

Preston Rowe Paterson

Corporate Profile and Information Memorandum page 1

Our Services in Detail............................................................................................................................10

Our Track Record..................................................................................................................................20

Corporate Profile and Information Memorandum page 2

Our National Property Services

At Preston Rowe Paterson we provide an elite and professional service to our

• Real Estate Investment Valuation

Corporate Profile and Information Memorandum page 2

Types of Property we Deal with

• Retail shopping centres and shops

• Metropolitan and CBD commercial office buildings

• Industrial, office/warehouses and factories

• Accommodation Hotels and resorts

• Licensed Hotels (pubs), motels and caravan parks

• Residential developments projects

• Residential (houses, townhouses, apartments and units)

• Special use/ purpose properties

• Extractive industries, landfills and resource based enterprises

Types of Plant & Machinery we Value

Our Asset, Plant and Machinery Valuation/Appraisal Division undertakes valuation

• Mining and earth moving equipment/ road

• Resort & Accommodation, hotel furniture,

Corporate Profile and Information Memorandum page 2

Reasons for Our Services

• Acquisitions and disposals

• Asset valuations for financial reporting to meet ASIC

• Funds management advice and portfolio analysis

• Listed property trust and investment

• Property syndicate valuations and re-

• Receivership and liquidation valuations and support/

Corporate Profile and Information Memorandum page 2

Our Clients Profile

Corporate Profile and Information Memorandum page 2

Our Comparative Advantage

Director & Senior Personnel Involvement

Our Nationwide Coverage

Our International Partners

Computerised Valuation Techniques

Corporate Profile and Information Memorandum page 2

Corporate Profile and Information Memorandum page 2

Client Connectivity through E-Valuers

E-Valuers.com.au is Preston Rowe Paterson’s IT

E-Valuers.com.au is a web services based IT

E-Valuers.com.au is designed to provide a clear and transparent communication

E-Valuers.com.au allows clients to track via

E-Valuers.com.au for the first time provides a

E-Valuers.com.au is assisting in the battle on greenhouse by reducing the level of

Corporate Profile and Information Memorandum page 2

Our Services in Detail

We make every attempt to ensure that

We have developed various computerised cash flow based analytical techniques

Examples of specific in house computer valuation models that we have developed

Term and Reversion Analysis

This model allows us to prepare a

Corporate Profile and Information Memorandum page 2

Analysis of Face and Effective Rentals

Discounted Cash Flow Analysis

Corporate Profile and Information Memorandum page 2

To consider appropriate discount rates, we analyse sales data and interview

Hotel Projections - DCF

Corporate Profile and Information Memorandum page 2