 After the termination of Futuris' option, an option to develop the site was taken up by Pivot Group, the private group of Incitec chairman Peter Laurance, in September 2003.At this time, the site was owned by AXA Statutory Fund, and managed by Deutsche Asset Management.On 17 December 2004, the Pivot Group exercised its option to buy the site from AXA Pacific for A$30 million.