PROPERTY GROUP

Australia - Asia - United Kingdom

Level 1 187 Fullarton Road

Dulwich, South Australia, 5065
08 8232 7605
info@monopolypg.com
www.monopolypg.com

21st September 2015

Echo Beach Nominees Pty Ltd

25 Peel St
Adelaide SA 5000

Dear Echo Beach Investors,

Please find below an update from the purchaser:
Beach Port Developments Pty Ltd have engaged Jeff Smith from Planning Chambers Pty Ltd
to assist with the approval of the Echo Beach project.
We believed we were making solid progress with the Coastal Protection Board, but a
subsequent meeting had a change of personnel who said regardless of our submissions they
were opposing the development.
As you are aware, Coastal Protection have always been the sticking point in getting this
project approved. Our team had been working on the basis of proving the case that under a
development that was sympathetic to the environment the land would be looked after
much better than the current position, where rubbish and other pollutants are being
discarded on the land and four wheel drive and motor bikes are chewing up the sand hills.
We have changed direction and have engaged two government lobbyists who were former
Senior Ministers of the current Labour Government to lobby the Planning Minister in an
attempt to overcome the obstructionists at the Coastal Protection Board. The thrust of the
submission is that as the State which has one of the highest unemployment rates in Australia,
the current Government should support economic development which is in sympathy with
the environment.
As you are aware from your previous involvement one of the sticking points was the
construction of permanent housing on the site. We are now proposing modular construction
that can be moved if hypothetical data on rising sea levels proves correct.
The team is very frustrated by the slow progress, but unfortunately with Coastal Protection
their attitudes change with personnel from one meeting to the next.
We are continuing our negotiations and continue to spend money with planners and other
professionals in ongoing negotiations to succeed in this valuable project. The Purchaser
Best regards,

Ben Howard
Director
Monopoly Property Group Pty Ltd

Monopoly Property Group Pty Ltd as Trustee for the Monopoly Property Group Unit Trust ABN 95 654 266 309 ACN 108 449 350