Mirvac’s urban strategy delivered excellent results in FY17, with operating earnings up 11 per cent and distributions up 5 per cent, at the top end of guidance provided.
The 2017 financial year was an outstanding year for Mirvac, and our ambition to reimagine urban life by creating, owning and managing high-quality assets in Australia’s largest cities has delivered strong results across the Group, positioning us well for the future.
Mirvac is an integrated, urban property group and a key contributor to Australia’s major cities.
Mirvac’s urban strategy and a strong focus on capital management delivered growth in FY17, and has ensured the Group is well placed for the year ahead.
In February this year, we launched Marrick & Co in Sydney’s inner west: a 220-apartment development on the old Marrickville Hospital site.
Mirvac has a priority focus on the health and safety of its employees, contractors and customers, and in FY17, we launched a refreshed policy and focus to strengthen our safety practices, behaviours and culture across our business, while supporting the wellbeing of our people, places and the communities in which we operate.
Developing a Reconciliation Action Plan (RAP) has been one of Mirvac’s key cultural goals over the past 12 months.
This Changes Everything is Mirvac’s sustainability strategy, comprised of four focus areas with long-term missions.
This Changes Everything FY17 at a glance
There’s a lot more to Mirvac’s retail centres than just retail. Having discovered that people visit our centres for a multitude of reasons, we are increasingly shifting our focus to delivering unique, integrated experiences.
Blending fashion, dining, entertainment and art, our centres are evolving every day to meet the needs of the communities they serve.
This year, Broadway Sydney was the scene of a fresh new cultural collaboration between Mirvac and the local arts community. Over a nine-month period, Mirvac and the Perron Group worked with the curators at Art Pharmacy to transform a part of the centre into a multi-faceted gallery space.
Five Sydney-based artists were involved, creating bespoke pieces for the entrance and Level 2 areas, which were undergoing development at the time. Together, these artists injected a diverse range of perspectives, crafts and ideas into the space.
To inspire Broadway customers to get involved with the public art project, we invited Broadway shoppers to take a vote on three different concepts by one of the local artists, Victoria Garcia, asking them to nominate the artwork they’d like to see installed as a permanent central showpiece. Over 1,900 Broadway locals cast their vote, showing the interest and enthusiasm for art that’s alive in the local community.
All art works were unveiled at an official opening for the redeveloped Level 2 in August last year, attended by Sydney’s Lord Mayor Clover Moore, and Mirvac’s CEO & Managing Director, Susan Lloyd-Hurwitz. Broadway Sydney’s new precinct has proven to be a fantastic fusion of fashion and dining, made all the more special by having these bespoke pieces of art scattered throughout.