Well, welcome everybody to GDI Property Group's Annual Results. I'm Steve Gillard, and I have David Williams, our CFO, here with me. This year, we really were wanting to execute on strategy, and we believe we've had a very positive year. We've got the DA approved, and we got construction commenced. We'll very shortly commence. We've signed a building contract in relation to WS2, which is the building next to Westralia Square, and completion will be late 2022. Already, we've had strong leasing activity there. We feel that once we start to build, there'll be significant interest in that building. 1 Mill Street, we've had the DA approved. We're seeking tenant pre-commitment and/or project partners to potentially build that building. There is, again, strong and there's some really good solid inquiry out there, and we've done a lot of work in relation to lease expiries in the Perth market, and a lot of them would come exactly when the completion of these buildings would be there. 50 Cavill Avenue, we exchanged contracts to settle on or about the August 31st. It was sold at AUD 8 million above the last independent valuation. I'll just run again. With Westralia Square, we've leased levels one to 12. Level 7 has been taken up by WAPOL. We've got some good solid interest for some other floors in there. CapEx program there all but complete, and the building looks in great condition. The real success story has been 5 Mill Street. We've increased the occupancy there from about 60% to 86%. We've done about 14 lease deals in that building. Leasing activity is the strongest I've seen probably for five years in Perth, particularly in that range from 100 sq meters-500 sq meters. Now we're finding a lot of the bigger inquiry coming out. CapEx program is well underway on 180 Hay Street. We've already had a small uplift there. We've got numerous inspections, and we feel that there is some activity there in relation to trying to lease that building up. We're quite confident on that one. Just to talk about 50 Cavill Avenue. We purchased that inclusive of cost for about AUD 49.2 million. The building was ideal for us. When we bought it was only about 54% occupied. Net income of AUD 2.6 million. We spent AUD 18.4 million, including incentives on new lifts, air conditioning, lobby upgrades, and it's now 97% occupied. Before, our NABERS rating would probably go to 5-star in the next assessment. We've exchanged contracts at a net sale price of about AUD 109 million. It's been a very successful outcome in relation to 50 Cavill Avenue. Whilst reluctant to sell it, we feel that we've added our significant value to that building. It was time to let it go. Annual return since listing, 13.3%. Look, we're very happy the way we are. We're basically out of all of our East Coast property. We're still in Townsville, which is a syndicate. We've done a couple of leasing deals there. We're really focused on Perth. We've got some significant added value to come in that market. We couldn't be happier where we are and where we're structured at the moment. We see significant upside of Westralia Square with the leasing, the development of WS2. There's significant profit there. Also significant upside in Mill Green and Hay Street. We're also seeing significant upside in the car yards that we purchased. Recent sales over there's been four or five recent sales around 4%-4.25% cap rates, which would add significant value to that portfolio and virtually double or more investors' returns. We've been looking to probably sell two of those car yards and/or get them revalued, but we feel they would have strong interest in the current market. Our LVR on the sale of Cavill Avenue, when it settles, would be approximately 10%. We've got significant firepower to purchase assets. We have been looking, but we feel the market, particularly East Coast, is a bit overpriced for us and way above replacement cost. We've got a lot of upside in our existing portfolio, and we can see the day when we see opportunities that are very attractive to us. We're continuing our forecast distribution of AUD 0.0775 per security. We've got a small team. We've just acquired David Ockenden, who is outstanding. We think we've got a very specialized team, and we're ready to go and add value to our assets and look to the future. Our NTA just fell a touch. I'll pass you over now to David Williams to talk through the financials. For those following the presentation along to page seven. The NTA went from AUD 1.27 in December to AUD 1.25 at June. We didn't get anything revalued at June, sorry. All of the assets were revalued in December. We will look at that revaluation cycle again in December this year. The balance sheet doesn't include the AUD 8 million upside from the sale of 50 Cavill Avenue. The drop of the NTA was the result of maintaining the distribution in excess of tax loans because of the re-leasing program, principally at Westralia Square, which I'll talk about later. FFO of AUD 0.0537 was less than last year, again because of the re-leasing program. Importantly, it was in excess, quite significantly, of where we gave guidance this time last year, and where internally we thought we'd get to. Most likely on the back of the very successful leasing at particularly 50 Cavill Avenue, with maintenance of a lot of the tenants that were expiring and new tenants going in there, and 5 Mill Street, which contributed more than we thought they would this time last year. The distribution of AUD 0.0775, and we're very pleased, as Steve said earlier, to maintain that again into FY2022. Looking at the contributors to our FFO and the property business. Basically, 50 Cavill Avenue and Mill Green contributed what they did in FY2020, and the big drop in differences being Westralia Square. It's going through a re-leasing cycle. We made a comment that FY2021 will be the low point of Westralia Square's contribution. We're back on the upward trend now. Steve said they've leased from one to 12 and there's interest in the upper floors. I'll let Steve talk about leasing interest there later. The funds management division obviously enjoys the very strong distributions we received from the dealerships, and also from GDI No. 42. There's a lot of upside in 42. That's the council asset, as and when that gets leased up. Corporate and administration expenses have been largely flat and they jump around a little bit. It did increase slightly because of things like insurance costs this year, which have gone up. Certainly the one item in our business that is going up a lot more than inflation. Interest expense is higher. We did have more drawn debt and we did re-finance our facilities in May 2020 at a slightly higher margin than it was previously. The incentives were spread across all the assets this year. For those that owned it last year, there was a very big incentive on the IDOM deal in FY 2020. This year, it's spread far more evenly across our asset base. If you look at the balance sheet on page nine, obviously the non-current asset held for sale is 50 Cavill. There is a small strata sweep in the building next door that is AUD 1.24 million of that. We're talking to the buyer of 50 Cav and others about that. It's still held for sale, and I don't think it'll be there by December. The investment properties weren't revalued in June. They were in December. The investment property does include about AUD 5 million now for money spent to date on the delivery of Westralia Square 2. If you go through the details of the accounts at page 10, you can have a look at that and see how that's parked out. Not really much else there. The debt number has gone up, and that debt's largely gone up because of buying 180 Hay Street and also the maintenance of the distribution. Page 10. We announced we signed on just prior to the end of last week, the new debt facility to build Westralia Square 2, extend the whole facility out and give us a lot more firepower again on settlement of 50 Cavill Avenue. That is explained in the pro forma, what it looks like in August 31. We'll have about AUD 85 million of just general working capital to spend, plus the AUD 85 million to build Westralia Square 2. It gives us plenty of opportunity to keep going on the asset management initiatives and capital management initiatives. One of the main capital management initiatives will be maintenance of the distribution again. Remember, that Westralia Square 2 cost about AUD 60 million to build it, but that's including all incentives and everything there. Also that AUD 60 million includes revitalizing the whole area around Westralia Square and WS2. Talk about the Perth market. You saw that the vacancy rate came down to about 16%. There's strong leasing interest over there. We're still harnessed a bit by the COVID situation in the East Coast. A number of bigger deals we believe have been sort of delayed probably more because they can't get staff. It's very hard for projects to start and to get moving without staff. The border closures have affected that. However, we've seen strong net absorption in that market. We've seen the labor force, and we've seen population growth, we'll see some strong population growth coming up. If you look at the infrastructure projects, WA is right there, just below New South Wales, and I believe there'll be some more projects announced in the shorter term, shorter to medium term. If we just look at all the individual properties there, you'll see that we haven't pushed the valuations. You'll see the cap rates are quite conservative on the basis of particularly a number of other sales which have gone ahead. We see significant upside in all of our assets, and we'd be looking to revalue at the end of this year. You'll note that we've got an average cap rate of 7.24%, but that's in relation to the car yard portfolio, but that's on the background. Comparable sales of recent sales are in the 4%-4.25%, and we will be looking to maximize the value of that portfolio. 180 Hay Street, we've had a few inspections. Nothing as yet, we feel that will have strong interest. It's magnificent, the renovation of it now and with the car parks and the location overlooking the WACA. It's just a great building, there's plenty of upside there. Townsville, we've been harnessed by border closures. The federal government have basically said they want to take the space, but they just can't get people up there, et cetera. We've done a smaller leasing deal in there in recent times. Once we see some clarity and some freedom in the borders, we'll hopefully lease that up there. We've got a strong development pipeline. We've got David Ockenden on board, who was the ex-Head of Development, Lendlease and Multiplex. We've got a building in WS2, which is a fairly simple construction. It's good timber. It's going to be 5- star to 6-star, so it's NABERS rating. It's ideal. It'll be the first of its kind in Perth. It's in the premier location overlooking the Swan River in Brookfield Place right next to Westralia Square, which is now classed as a premium building. We're very excited about that project, and you'll note that Dexus paid AUD 16,600 a meter for the 49% share of Woodside, and we feel that we'll certainly get valuations in that range once we get the strong tenant demand. We've got a number of tenants looking at it, but we're going full steam ahead, and we think build it and they will come. We believe it's going to be very high in demand at rents which are lower or around what 30-year-old buildings are in Perth. The same could be said for 1 Mill Street. We are looking to really push ahead with that and do some demolition shortly and look for partners to go ahead and build that property. We've got some strong interest. We'll hope even if we get some pre-commitment, we'll probably go ahead with that because we feel that we can build it at way below what previous sales compared to Woodside and the Chevron building, and also the rents would be at or below or around what 30-year-old premium buildings are there. The funds management business, we didn't add anything, just haven't seen value. They're just getting a bit hot at the moment. There's significant inbuilt performance fees. We've got IKEA. We've done some work for them. They're building a click and collect, paying for it themselves. We're hopefully confident they'll stay, and we believe it's in the top five stores in the world profitability. The one which we really want to get leased is GDI 36. We've done a bit of additional leasing there. We've got some strong interest in some lower floors, and we believe there's some tenants coming out to the market, which this would be ideal for. Look, there's upside. We're working on the UGL portfolio, GDI 38, to rezoning that Broadmeadow property. That's got huge upside, and also in relation to vacancies in Perth, I think it's valued in the 7s, and there's been recent industrial sales over there between 4% and 4.25%. I'll leave to speak to David Ockenden about the profit and loss. I think we can all read that through. We're rolling our sleeves up. We've got a great team in Perth. It's a shame I can't get over there, we're speaking daily and more than that, with teams meeting various things. We've achieved our goals in relation to getting WS2 up and running, selling Cavill Avenue, doing a huge amount of leasing deals over there. We could see that we've got a very exciting year ahead of us and a war chest on our balance sheet for any opportunities that come up. I think it's opportune time for questions. If there's any questions, please, we'd be delighted to answer and discuss anything. I'll open that up now, please. We have the first question from the line of Carlos from Renaissance Asset Management. Please go ahead. Hi, guys. Just on page five, you talk about the increased inquiry in the market for leasing. I was just wondering whether you could characterize the strength in inquiry. I think you mentioned, Steve, it has been very strong tenants between 1 meters and 500 meters, but larger tenants are now starting to move. I was just wondering whether you could give us a bit more color on the types of industries. Is it just mining or is it a lot broader than that? Yeah, if you could shed some light on that. We've got federal government for about 2,500 sq meters-3,000 sq meters. We've got state government. There's two big inquiries around 20,000 sq meters-25,000 sq meters. We've got a number of lawyers. We've got a number of engineering firms. Look, I think you're finding that a lot of companies are expanding in WA and getting themselves over there because of the stabilization of COVID, et cetera. Look, there's some bigger inquiries coming. They've just shot out. The green shoots are there. There's been a lot of inquiries from 100 sq meters-500 sq meters. We've done 15, 16, 17 leasing deals there. We had a tenant who reduced space in 197 T errace, they've just taken an additional 1,500 sq meters. That was an engineering company with some projects. They were there. They reduced the space. Now they've taken it back up. We've got Webber expanding their lease. Look, the bigger inquiry is coming. There's huge mining companies are looking to expand a bit as well. There's been a lot of insurance companies. We've had insurance companies expanding and coming to the market, and we've spent a lot of time, a lot of money looking at all of the risks, leases, and various things there. We think we've got a database second to none in Perth. We feel that there's going to be strong interest, particularly in our newer buildings. With Westralia Square, it really is now a premium building and there's certainly strong interest. What we've done again, like we did with 66 Goulburn Street, was lease the bottom up. We've leased all the floors up to level 12. We've got a couple running on level 13 and 14. We would have liked to have a bit more done, but we think we've had a very good year in relation to leasing, and we've achieved the sale of Cavill and also, got those DAs and started construction on WS2. My second question is on the car yards. You mentioned that you may sell a couple of the car yards. Any gains on those flow through the fund and eventually into your P&L for your part ownership? Look, we bought them for about AUD 98 million. We hold 47%. We think that we could probably in the vicinity of doubling in value. Those have been a fantastic investment for us. There is strong demand. There's a couple on the market. There's some Mercedes dealerships around that [non-NNN]. We'll see what they do. We've had approaches to buy the lot, but we may put a couple up on the market or do that and realize the gains there. They're just great investments. They're land in great locations in prominent metropolitan areas. Certainly, we're in the business of achieving results, and we believe that with a long while, it would be an ideal time, and it just hits the sweet spot in the market at the moment. Okay. Thank you. Thank you. We have our next question from the line of Shane Solly from Harbour Asset Management. Please go ahead. Yeah, good afternoon, guys. Thank you very much for your time. I've just got two quick questions, if I may. First one, just could you talk through the funding structure behind the new developments in Perth in terms of on-balance sheet or whether you think about bringing partners in? Where are you at on those? WS2, we're going to build it for around about 6,000 sq meters. That's probably got potential in the mid-teens value. There's significant profit there. It's a cheap construction. There's no excavation. It's timber light frame. We can build them in AUD 12, and we're going to spec that, and we're going to do that on balance sheet. In relation to 1 Mill Street, we wouldn't do that on our own. We'd look to a partner with that. It may be a situation you sell half the site and bring in a partner with that. Certainly. If you're fully pre-committed, you wouldn't have a lot of those various things. We're looking at a lot of alternatives there. We've got eight or 10 people, very strong interest in relation to partnerships there. First of all, we wanted to just achieve some leasing up, achieve the sale of Cavill, get the DA and start construction on WS2, and our big project now is 1 Mill Street to maximize the value of that property. Got you. Thank you. Just my second question, you mentioned for the funds that you looked at a number of assets, nothing quite passed the sniff test, passed due diligence, I should say. We put the bid in. What's it like out there? Okay. Sorry. You go. Yep. Yeah. We like land-rich properties or properties below replacement cost in great locations or properties with a bit of a twist where there's vacancy we can add value to. We're not in the business of buying industrial on the East Coast at 3%, 4% cap rates where at 4 x replacement cost or office buildings at 2x and 3 x replacement cost where there's going to be huge potential vacancy coming up. fWe've been looking at opportunities, we've been looking at funds managers, we've been looking at a number of things to really take GDI into the next step. We feel that we're just not going to buy anything for the sake of it and build our funds management and lose money on things. We prefer to buy things where we're going to maximize the value to our investors. It's probably delayed that correction by 12 months with COVID, but we feel that there will be some opportunities coming up. Already, we feel there's going to be AUD 1 billion or a couple of billion of properties coming up on the East Coast, and it's going to shake a few tails. If we see the value, we'll certainly buy from on the balance sheet and also our funds management division. We looked at some industrial in WA because that's huge demand at the moment and vacancy is decreasing and all, but we got in there, but we didn't bid 4.15% cap rates, and we missed it. Thanks very much. Thank you. Thank you. Once again, as a reminder, if you wish to ask a question, please press star one on your telephone. To ask a question, you will need to press star one on your telephone. I think we'll wrap it up there. Thank you so much for being a part of this conference call. Obviously, we're doing a number of one-on-one meetings, and David and myself are there anytime if you'd like to ask any questions or talk anything. We thank you so much for your participation today. Thank you, sir. This concludes today's conference call. Thank you for participating. You may now disconnect. Thank you all.