Ladies and gentlemen, thank you for standing by and welcome to GDI Property Group half year results. I would now like to hand the conference over to your speaker today, Steven Gillard. Thank you. Please go ahead. Welcome everybody to our half yearly results. We've had a lot of progress this year, in relation to our developments. We've got the DA approved and hope to hopefully have the building approval approved very shortly in relation to the WS2 development. The Mill Green, we've got the DA lodged, and we're happy to have in the very imminent future our DA approved on that. We've settled the Hay Street property. We've had some solid leasing. Although, really we had the stage set GDI, for a Perth recovery, but obviously with COVID, et cetera, major businesses and small businesses have found it difficult making decisions. We're in a bit of a transition period because we really needed some solid leasing. We have done a number of deals, particularly level 11 and 12 in Westralia Square. A couple of new leases in Mill Green. Cavill Avenue, we've extended the major lease plus a number of leasing deals there. At the moment, the inquiry rate and what we've got in Perth is very, very good. It's really quite buoyant over there, and we've got a number of potential deals on the boil, some larger, some smaller. People are starting to make decisions, so it's really good. We've got a situation where there's really no supply and you've got a lot of the older stock, whilst the vacancy rate's high, a lot of the older stock is virtually impossible to lease. The A and B grade stock, is under that 10% sort of level. We're getting some good inquiry. We're getting a number of tenants moving back into the city. We've got a situation over there where a number of the projects were delayed and a number of things, the government's in surplus. Economic forecasters are forecasting solid growth for WA. We've had very good volumes in the commodities, which has been good. We're in a very good position. We're quite excited of the future, particularly in Perth. The Gold Coast property has been some very good leasing there. Townsville, we haven't had any progress. Obviously, the governments, et cetera, couldn't get access to the borders. That's freeing up now and we've got some strong inquiries there as well. If you go to the page of the presentations in relation to some economic forecasts. If you look at those SEEK job ads in WA, you'll see they're up 26.5%, which is good. You've got a situation where it's very hard to find builders, find staff to start a number of these projects. Now with the borders opened, a lot of people will move there. You haven't got fly-in fly-out. Your residential market's gone very strong. Your residential vacancy is now down below 1%. They really need people to come over there and work to facilitate the growth in a number of the commodity projects and also the oil and gas price now, a number of those projects are being reignited. If you look at the consumer sentiment, it's at 10-year highs in W.A. The infrastructure projects are significant, and we've got forecast very strong GDP growth and net absorption in the office market in Perth. Really, we are in a very good position. Our vacancy has decreased a little bit, we're really in a situation where we can really make a big inroad to that vacancy and capitalize on the strong WA growth. Really, that's all we've got to say in that sense. We're in a great position. We've got a couple of big projects. There's potential, very exciting profits for GDI. In the funds management side, we're finding it difficult to buy, particularly East Coast, where we can't see any value at all. The car yards we purchased at 8% net, whilst we didn't, the valuations reflect that this time in the NTA, but we see those, and a number of our other valuations having significant growth in the future. Now look, I think I'll just pass, unless there's any questions. If we could have question time, please. Thank you so much. Ladies and gentlemen, we will now begin the question and answer session. As a reminder, if you wish to ask a question, you will need to press Star and One on your telephone and wait for your name to be announced. If you wish to cancel your request, please press the Hash key. Again, it's Star and One if you wish to ask a question. One thing, ladies and gentlemen, it's Star and One if you wish to ask a question. Once again, ladies and gentlemen, if you wish to ask a question, it's Star and One on your telephone keypad. All right. We've got our first question comes from the line of Carlos Cocaro from Renaissance Asset. Carlos, your line is now open. Hi, Steve. Just wonder if you can provide a little bit more color around, sort of leasing inquiry in Perth and what you're seeing in terms of requirements, and how much that's changed in the last six months or so? Yeah, I think you'll find, yes. In the last six months, it has certainly improved, but in the last month or so, it's really ignited. There's some strong leasing inquiry. There are companies who are growing. We've had some companies have had to take additional space because of the COVID sort of, situation with workstations. Look, people have been treading water to make a decision, obviously. It's been very uncertain times. It's very difficult to enter into a lease and sign a document in those uncertain times. I think people are seeing some significant green shoots and, people are getting a lot more confident. At the moment, we've got the best inquiry we've had for probably three or four or five years currently in regard to all of our number of properties. There's big, small, there's a number of very large. We're dealing with a number of multinationals and Australian companies in relation to One Mill Street. We're getting some solid inquiry in relation to WS2 and Westralia Square, One Adelaide Terrace. At Five Mill Street, we've had a lot of smaller inquiries. Hopefully, we can finalize some deals in there. We've done a full floor to Lungo Rock, and a lot of these companies are looking to take additional space as well. Look, it's the best we've been for at least six or eight months in regard to confidence of doing leasing deals. There's potentially a lot of growth in the size of these tenants as these projects and a number of things start to snowball in Perth. It's been very, very good. It's David Williams, Carlos. Just on Five Mill and that smaller sort of sub 500 meter tenant, they were really absent from the market in the middle of last year, obviously with COVID and not really knowing what their businesses were going to look like. We've now got, particularly at Five Mill, we've got tenants competing for suites that we have. We've got a couple of suites with more than one tenant running at them. We're doing it, we have not dropped rates, and we have not increased incentive. That's a really pleasing sign. That wasn't there six months ago, certainly. Right. In Townsville, what are your prospects there in terms of leasing up the vacancy in that property? Look, we had very strong inquiry from the federal government who basically were going to take the space. However, for six months, they haven't been able to get up there. I'm going to Townsville on Thursday. Look, we've got some good, solid inquiry from the federal government, and also from state government. We've been absolutely hamstrung by the border closures. People from Canberra getting up there. There's a number of departments which are going to move into Townsville as they stated after the election. Look, I think within the next few months, we'll have hopefully some nice green shoots in Townsville. It's a matter of people getting up there, inspecting, and being able to facilitate a deal. The car yards that we had, their growth has been solid. Look, in regards to Perth, bigger inquiry, we've really got the best spots for bigger inquiry, and a lot of those tenants have been sort of treading water, but now they're really out. We're getting a lot of tenants wanting signage on buildings as well, which is good. Look, we're very confident. Right. Final one from me. How would you characterize investor demand for Cavill Avenue? Well, look, we've recently had offers on that building. We've got a number of people who would buy that building. We've got the major tenant, which is Accor, have got wanting more space or move some around. They've been very reluctant to sign a lease because the hotel market, how could you sign, extend a lease or do things there? I'm having a meeting this week, and over the next few weeks, we hope to finalize something there. We've had a number of smaller tenants where our incentives are in the 10%-14% net. There, we're getting a lot of tenants perhaps moving from Brisbane. The vacancy in the building, we've had Bells move out, but there's a lot of inquiry there. We'll hope to have that building full. We've sort of held on because it's still below replacement cost. I'd say this year, we will have that off the balance sheet. Great. Thanks, guys. Thank you so much. Once again, ladies and gentlemen, if you wish to ask a question, it's star and one on your telephone keypad. Again, it's star and one if you wish to ask a question. Ladies and gentlemen, it's star and one if you wish to ask a question. Well, look, I think we might wrap that up, but if there's any questions, if you could let us know. We can come and do presentations or the phone is always open to give us a call and run through these results in more detail. It's difficult to sort of go right through these on a phone call. We'd like to thank you all very much for being on our call and supporting GDI. Thank you. Thank you so much. That this concludes our conference for today. Thank you for participating. You may all now disconnect.