The GPT Group, as joint venture partners with Lend Lease, will develop the 122-hectare New Rouse Hill over a 12-year period. In addition, GPT will spend $470 million creating the Rouse Hill Town Centre, which will be managed and owned by GPT. Established in 1971, The GPT Group (GPT) is one of Australia's oldest and largest property groups with total assets of A$12 billion and an investor base of over 47,000. GPT's assets include quality investment properties located around Australia in the retail, office, industrial/business park, and hotel/tourism sectors, and offshore in the US seniors housing market. Other investments include a co-investment in the GPT managed GPT Wholesale Office Fund (GWOF) and a 50% interest in a joint venture with global investment and advisory firm, Babcock & Brown, which includes investment in a range of European and US property assets. GPT also manages a significant portfolio of retail assets in Australia. The Group's strategy focuses on generating superior returns from investment in real estate and related investments. GPT's capabilities include a full range of property expertise and the Group employs industry specialists with dedicated, sector-specific teams.