Fact-checked by Grok 2 weeks ago

Mirvac

Mirvac is an property group founded in , specializing in the integrated , , and of assets, including residential communities, office spaces, retail centers, industrial properties, and build-to-rent across major cities. As an ASX-listed company (ticker: MGR), it focuses on creating sustainable urban places and experiences, with operations emphasizing , customer-centric design, and environmental responsibility. Established in by Bob Hamilton and Henry Pollack with their initial project, the Montrose apartment block, Mirvac has grown from small-scale residential developments into a leading national player in the property sector. Key milestones include its 1987 listing on the Australian Securities Exchange, a 1999 merger that formed the modern Mirvac Group, and expansions into large-scale projects such as the Newington in 2000. The company has delivered over 800 awards for its projects since inception, reflecting its commitment to innovation and quality in urban development. Under successive leadership, including CEO Campbell Hanan since 2023, Mirvac has prioritized , achieving net positive carbon emissions (scopes 1 and 2) in 2021 as the first firm to do so. Its portfolio includes iconic mixed-use precincts in , , , and , alongside funds management and operations, contributing to investments exceeding $13 million in 2024. Mirvac's approach integrates diversity—with 45% of its workforce comprising Gen Z and Millennials—and a zero wage gap, positioning it as a forward-thinking leader in Australia's landscape.

Overview

Founding and Corporate Structure

Mirvac was founded in as a small by real estate specialist Robert (Bob) Hamilton and architect Henry Pollack, initially focused on apartment development in . The company's inaugural project was the development of a block of 12 apartments known as in Rose Bay, , which marked its entry into the residential property sector. Over the decades, Mirvac evolved from this modest beginning into a publicly listed on the Australian Securities Exchange (ASX) in 1987 under the MGR, with an initial float of $120 million in shares; this transition, bolstered by key milestones such as the 2005 merger with James Fielding Group, established it as a diversified property group offering integrated development, investment, and management capabilities. Mirvac's headquarters are located at Level 28, EY Centre, 200 George Street, Sydney, New South Wales 2000, Australia. The company operates across core sectors including residential development, office and industrial properties, retail management, build-to-rent, and funds management, enabling a comprehensive approach to property asset creation and curation.

Leadership and Governance

Mirvac's leadership is headed by Independent Non-Executive Chairman Rob Sindel, who has served in the role since January 2023 after joining the board in September 2020. The Group CEO and Managing Director is Campbell Hanan, appointed in March 2023, bringing over 30 years of experience in property and funds management from prior roles including CEO of Investa Office. The executive team supports strategic direction through specialized roles, including Courtenay Smith as Chief Financial Officer (since March 2021), Richard Seddon as CEO of Investment (since March 2023), Victoria Tavendale as Chief Asset Management Officer (since March 2023), Stuart Penklis as CEO of Development for Residential, Commercial, and Mixed Use (since April 2017), Scott Mosely as CEO of Funds Management (since November 2022), Amy Menere as Chief Stakeholder Relations and Customer Officer (since September 2021), Chris Akayan as Chief Culture and Capability Officer (since March 2017), and Richard Webby as Chief Digital Officer (joined October 2025). The board comprises eight members, with seven independent non-executive directors—Christine Bartlett (since December 2014), James Cain (since December 2023), Damien Frawley (since December 2021), Rosemary Hartnett (since December 2024), Jane Hewitt (since December 2018), Peter Nash (since November 2018), and Chairman Rob Sindel—alongside CEO Campbell Hanan. This structure emphasizes independence, with all non-executive directors meeting ASX criteria for independence and an average tenure of five years as of FY25. Key committees include the Audit, Risk and Compliance (chaired by Peter Nash), the (chaired by Christine Bartlett), the Health, Safety, Environment and (chaired by James Cain), and the (chaired by Rob Sindel), which oversee financial , executive remuneration, environmental responsibilities, and board succession respectively. is a priority, with 37.5% female representation on the board (three women among eight directors), 46.8% in senior management, and equivalent workforce levels in FY25. Mirvac's governance framework adheres fully to the ASX Corporate Governance Principles and Recommendations in FY25, promoting through a comprehensive , Whistleblower Policy, and anti-bribery measures. is integrated via an annual review process overseen by the Audit, Risk and Compliance Committee, focusing on enterprise-wide risks including and market volatility. is facilitated through transparent disclosures on the company website, active participation at the Annual General Meeting, and regular updates on ethical practices and performance metrics. Recent leadership transitions include the 2023 succession from long-serving CEO Susan Lloyd-Hurwitz to Campbell Hanan, which has steered emphasis toward initiatives—bolstered by the Health, Safety, Environment and Committee—and portfolio optimization for long-term value creation. Further changes encompass the December 2024 appointment of Rosemary Hartnett to the board and her roles on the Audit, Risk and Compliance and Human Resources Committees effective March 2025, alongside Richard Webby's October 2025 addition to drive . These evolutions reflect Mirvac's commitment to refreshed expertise in and strategic priorities.

History

Establishment and Early Years

Following its establishment in 1972 with the development of , a modest block of 12 apartments in Sydney's Rose Bay suburb, Mirvac quickly expanded its residential portfolio during the 1970s. The company shifted from small-scale apartment projects to larger developments, exemplified by in Willoughby in 1976, which comprised 161 apartments across seven buildings including townhouses and mid-rise blocks. This growth occurred primarily in Sydney's eastern and northern suburbs, capitalizing on increasing demand for urban housing amid Australia's post-war urbanization and the implementation of the Urban Development Act of 1970, which facilitated large-scale land acquisitions for residential expansion. By the late and into the , Mirvac evolved its by launching Mirvac Homes, an in-house division dedicated to house construction, which enabled greater control over design, quality, and costs in response to the burgeoning housing market. Key achievements during this period included the development of luxury high-rises, such as The York in —a 150-apartment tower in that marked the city's first new luxury residential high-rise in over 55 years and sold out within four hours of launch. Other notable early projects, like Kincoppal in Elizabeth Bay, further demonstrated this shift, with heritage-sensitive apartments averaging $550,000 and selling out in weeks, reflecting Mirvac's focus on premium eastern suburbs sites. Mirvac's entry into masterplanned communities came in the late with Raleigh Park in 1989, ' first major community title development, for which the company contributed to drafting enabling and established a for integrated residential planning. This initiative built on the firm's residential expertise amid the property boom, characterized by rapid urban growth along Australia's eastern seaboard, particularly in , where population influx and economic expansion drove demand for structured housing estates. By the end of the decade, Mirvac's emphasis on projects solidified its position as a key player in the state's urban development landscape.

Expansion, Mergers, and Recent Developments

In 1987, Mirvac listed on the Australian Securities Exchange (ASX), raising $120 million in shares and marking a significant step in its growth. In 1999, Mirvac Limited merged with a stapled collection of trusts to form the modern Mirvac Group, enhancing its structure for integrated property operations. In the early 2000s, Mirvac pursued significant growth through strategic acquisitions, most notably the merger with James Fielding Group (JFG). Announced on October 12, 2004, and implemented in January 2005 for approximately $478 million, the deal added a $1.5 billion investment development pipeline to Mirvac's portfolio, with the combined entity having total assets exceeding $4.9 billion and a development pipeline of $2.3 billion. This acquisition combined Mirvac's residential expertise with JFG's strengths in office and retail sectors. Post-merger, Mirvac diversified its portfolio beyond residential development into , , and properties, leveraging the expanded asset base to establish a more balanced presence across sectors. This shift included the creation of dedicated funds and trusts, such as the Mirvac Trust, to manage the growing holdings, while maintaining a primary focus on domestic markets despite exploratory international considerations. By the late 2000s, these efforts had solidified Mirvac's position as a diversified property group, with enhanced funds under management reaching $1.8 billion immediately following the merger. From 2010 to 2025, Mirvac achieved several key milestones, including the strategic disposal of approximately $1.4 billion in non-core assets between 2023 and 2025 to streamline operations and redirect capital toward high-growth areas like residential and logistics. The FY25 Annual Report, released on August 15, 2025, highlighted ongoing sustainability progress, with Mirvac maintaining net positive carbon status for Scope 1 and 2 emissions since FY22, achieved through energy efficiency measures and offsets exceeding emissions by over 100 tonnes annually. Additionally, community investment reached $13.3 million in FY25, supporting local initiatives in partnership with stakeholders. Amid rising housing demand and urban challenges, Mirvac shifted strategically toward sustainability-integrated developments and urban , emphasizing mixed-use precincts that enhance and environmental . In 2025, these efforts were underscored by strong fund performance, with the Mirvac Wholesale Office Fund (MWOF) delivering a 5.8 percent total return over the prior 12 months, outperforming industry indices and maintaining low gearing at around 25 percent.

Business Segments

Residential Development

Mirvac's residential development segment focuses on creating high-quality apartments, townhomes, and masterplanned communities across , , , and . The company has been involved in residential projects since its founding in 1972, emphasizing customer-centric developments that address diverse housing needs. A key initiative targets first-home buyers through a dedicated online hub launched in September 2025, providing guides, grant information, and expert advice to simplify the purchasing process. The company's approach integrates an end-to-end process encompassing , via its in-house Mirvac Constructions arm, and , ensuring and efficiency throughout. This prioritizes and living environments, incorporating amenities such as parks, spaces, and social infrastructure to foster community belonging and well-being. Mirvac's urban-focused developments aim to reimagine city living by promoting , access, and inclusive designs that reduce . Mirvac has earned over 800 industry awards since 1972 for its residential excellence, reflecting its market positioning and commitment to high standards. In line with broader goals, the company targets $100 million in social procurement by 2030, directing spending toward social enterprises and businesses in its residential builds to enhance outcomes. Responding to Australia's housing shortages, Mirvac has expanded into build-to-rent models under the LIV brand, delivering renter-focused communities with premium amenities, secure leases, and onsite services to provide stable, community-oriented options. The firm also pursues projects that reintegrate residential and mixed-use spaces, aiming to alleviate affordability pressures amid ongoing supply constraints.

Office and Industrial Operations

Mirvac's office operations center on the management and ownership of premium (CBD) and suburban office assets, primarily in Australia's major eastern cities. Through the Mirvac Wholesale Office Fund (MWOF), an unlisted office , the company co-invests in high-quality properties, achieving a portfolio value of A$6.1 billion (fund share) as of June 30, 2025. This portfolio comprises 11 assets strategically located along the eastern seaboard, providing geographic diversification across , , and . In 2025 (FY25), MWOF demonstrated strong performance, outperforming relevant market indices and ranking as the second top performer over 12 months among pooled wholesale office funds in its peer set according to benchmarks (top over 3 months). The fund maintained low gearing at approximately 26.3% while raising additional capital, including A$355 million to support project-related capital expenditures and strengthening. Mirvac's approach emphasizes active , including leasing strategies that contributed to high occupancy rates across the portfolio. The operations of Mirvac focus on , warehousing, and the of cutting-edge facilities tailored for advanced and distribution needs. As of June 2025, the portfolio was valued at A$1.7 billion, encompassing 665,948 square meters of net leasable area with an exceptional 99.8% occupancy rate and a weighted expiry of over five years. Growth in this segment has been driven by investments in state-of-the-art estates, such as the Estate in Western , which will deliver 245,000 square meters of modern warehouses upon completion in 2027, supporting tenants in and specialized . Following selective acquisitions and in 2025, the portfolio has expanded to enhance Mirvac's position in high-demand markets. Mirvac integrates its office and industrial operations through co-investment models, funds management, and a commitment to , enabling diversified streams and risk mitigation. For instance, portfolio achieved an average 5.3 Star NABERS energy rating in FY25, with 16 buildings attaining 5 Stars or higher, underscoring the company's focus on environmental performance. Leasing activities and fund structures, such as MWOF, facilitate long-term tenant partnerships and capital recycling, while similar strategies in industrial assets ensure robust occupancy and income stability across both segments. This holistic approach positions Mirvac to capitalize on evolving demand for premium commercial and spaces.

Retail Management

Mirvac's retail division manages a portfolio of nine shopping centres valued at approximately $2.3 billion as of June 2025, strategically positioned as growth assets across , , , and the Australian Capital Territory. These centres feature anchor tenants such as supermarkets including Coles and Woolworths, alongside department stores like and , which provide stable footfall and contribute to the portfolio's resilience. The total net lettable area stands at 314,495 square metres, with a focus on high-density urban locations to capture affluent and expanding catchments. The management approach emphasizes customization to needs, integrating elements such as dining, , and facilities to create vibrant destinations beyond traditional . An in-house team handles asset management, prioritizing tenant mix optimization through leasing to premium brands like Apple, , and , which enhance experiential offerings and drive specialty sales productivity exceeding $11,500 per square metre in FY25. initiatives, such as the comprehensive overhaul of Harbourside in , exemplify this strategy by repositioning assets for mixed-use functionality, blending with residential and spaces to boost long-term value. In FY25, the retail portfolio achieved 98.8% committed occupancy and a weighted average lease expiry of 3.4 years, reflecting robust leasing spreads of 2.8% amid pressures. Strategies adapted to shifts by emphasizing experiential —such as pop-up events and activations—while integrating mixed-use developments to support 4% annual catchment and 15% above-benchmark consumer spend. The division's dominance on Australia's eastern seaboard, with expansions targeting high-density precincts, underscores a commitment to sustainable, low-capex assets that align with evolving urban lifestyles.

Portfolio and Notable Projects

Key Residential Projects

Mirvac's residential portfolio includes several landmark projects that have shaped urban living in , beginning with innovative developments in the late . The , completed in in 1981, marked a pivotal moment as the city's first luxury high-rise apartment building in over 55 years, featuring 150 upscale apartments that sold out within four hours of release. This pioneering tower introduced high-end residential living to the skyline, setting a benchmark for quality and demand in premium housing. Similarly, Beacon Cove in , initiated in 1994 as a with the Victorian , transformed a former industrial site into a waterfront community with over 1,200 dwellings, including terraced housing, apartments, and luxury homes integrated with parklands and amenities like a gymnasium and station. The project earned 10 awards, including the 1996 HIA Top Home Awards, for its community-focused design and successful revitalization. Newington, originally the Sydney Olympic Village for the 2000 Games, stands as another iconic achievement, evolving into a sustainable suburb housing 16,600 residents with a mix of houses and apartments. Mirvac's design emphasized environmental innovation, making it Australia's first solar suburb and earning 36 major awards, such as the 2002 Royal Australian Institute of Architects Premier’s Award. These early projects exemplified Mirvac's commitment to blending luxury, , and integration in residential . In recent years, Mirvac has continued this legacy with masterplanned communities like Highforest in West Pennant Hills, , a $830 million project commenced in November 2024 that offers 3- to 5-bedroom houses and 1- to 4-bedroom apartments across a 15-hectare site adjacent to state forest. The development includes the Treeview precinct, where construction is progressing as of October 2025, with houses on track for completion in late 2025 and apartments reaching levels 6 and 7, featuring green spaces, walkways, cycleways, and a to foster connected living, with first settlements expected from late 2025. Harbourside Residences, a waterfront precinct in Harbour, provides limited 3- and 4-bedroom residences and penthouses with resort-style amenities including a , gym, and wellness facilities, aiming for completion by 2027. Further highlighting Mirvac's focus on sustainable urban environments, at Waterfront Newstead in offers luxury apartments with innovative natural design elements, such as integrated greenery and wellness-focused interiors, as part of the broader Waterfront Newstead masterplan. Complementing this, Quay within the same precinct delivered 135 apartments across 26 levels upon its opening in September 2025, incorporating 's largest private rooftop with an , gym, studio, and over 2,000 square meters of public parkland for enhanced community access. In , Smiths Lane in Clyde North provides 3- and 4-bedroom townhomes with low-maintenance designs, community parks, and future amenities like a town center and schools, supporting a growing neighborhood of 7,500 residents. These projects underscore Mirvac's strategy of creating vibrant, amenity-rich residential spaces aligned with modern lifestyle needs.

Prominent Office Buildings

Mirvac's office portfolio features several flagship assets that exemplify the company's emphasis on premium-grade developments in prime urban locations, integrating innovative design with . The in Sydney's stands as an iconic sustainable tower, offering 92,000 square meters of net leasable area (NLA) across its 49 storeys, with a valuation integrated within the broader Mirvac Wholesale Office Fund (MWOF) portfolio totaling $6.2 billion as of June 30, 2025. Designed by Architects in collaboration with Mirvac, the tower reimagines the historic 1970s Quay Quarter site, incorporating a terraced form that enhances public connectivity and natural light, while achieving a 5.0 Star NABERS Energy rating for its energy-efficient systems and practices. Its central location adjacent to underscores Mirvac's strategy of anchoring assets in high-demand business districts. Another cornerstone is the at 200 George Street, serving as Mirvac's headquarters and a landmark in Sydney's with 39,030 square meters of NLA valued at $451.4 million. Architecturally crafted by Francis-Jones Morehen Thorp (now fjmtstudio), the building employs advanced technology for a responsive, smart , including automated shading and high-performance glazing to optimize occupant comfort and reduce use, earning a 5.5 Star NABERS Energy rating. Key tenants include as the anchor occupant and , reflecting its appeal to blue-chip and firms in a location that facilitates seamless access to Sydney's financial core. The prioritizes wellness and flexibility, with features like communal terraces and WELL Gold certification, positioning it as a model for post-pandemic workspaces. In Melbourne, Collins Place represents a multi-tower complex in the CBD, encompassing 102,000 square meters of NLA as part of the MWOF holdings. Originally designed by renowned architect I.M. Pei in the 1970s, the site has undergone Mirvac-led refurbishments to modernize its office spaces while preserving its mid-century aesthetic, including a central plaza that integrates retail and public amenities for enhanced urban vitality. It holds a 3.5 Star NABERS Energy rating, with ongoing upgrades focusing on efficiency in its A-grade facilities. The complex's strategic positioning near Parliament House and major transport hubs supports a diverse tenant base in professional and government sectors. Among other notable properties, 101-103 Miller Street in provides 37,406 square meters of NLA, valued at $254.0 million, and is co-owned with Integrated Commercial Trust at 50% each. This premium-grade tower, connected directly to North Sydney Railway Station via Greenwood Plaza, features efficient floorplates and a grand lobby designed for high-profile occupancy, achieving a 5.0 Star NABERS Energy rating through sustainable retrofits. Prominent tenants include the Commonwealth of and , highlighting its role in serving public and financial institutions in one of Sydney's key suburban business precincts. The asset's design emphasizes accessibility and integration with transport infrastructure, enhancing its locational advantages. Mirvac's office holdings are further diversified through the MWOF, an unlisted fund managing 11 assets with a total NLA of 735,000 square meters and a $6.2 billion valuation as of June 30, 2025, concentrated in (62%) and (38%). The portfolio averages a 5.0 Star NABERS rating, underscoring Mirvac's commitment to high-performance buildings, and includes major tenants such as and across premium and A-grade properties in core markets. This geographic spread supports resilient leasing in established and fringe locations, with designs tailored to contemporary demands like collaborative spaces and .

Major Shopping Centres

Mirvac's major shopping centres form a key part of its retail portfolio, emphasizing convenience, lifestyle, and community integration across , , and . These assets, totaling over 400,000 square meters of gross leasable area (GLA), cater to diverse demographics with a mix of anchors, specialty stores, and experiential offerings that enhance local accessibility and vibrancy. Broadway Sydney, located on the fringe of Sydney's in , stands as a prominent sub-regional serving the and catchments. Anchored by Coles, , , , and cinema, alongside premium tenants like Apple, , , , and , the centre features approximately 140 specialty stores focused on fashion, beauty, and entertainment. Its role in the community is amplified by high footfall from nearby universities and residential areas, positioning it as a daily destination for and . East Village in Zetland, , exemplifies a lifestyle-oriented precinct integrated into a . Opened in , it is anchored by Coles, an service centre, and health club, with over 50 specialty stores offering dining, fitness, and everyday essentials. The centre's pet-friendly design and focus on contribute to its community appeal, ranking it highly in sales per square meter among similar assets and fostering social connections in the eastern suburbs. Greenwood Plaza in serves as a pedestrian-friendly thoroughfare at the base of Mirvac's iconic 101-103 Miller Street office tower. This three-level centre includes 97 specialty outlets emphasizing mid-to-high-end fashion from brands like Cue and Witchery, alongside fresh food options and the for dining. With a of approximately 8,800 square meters, it supports the professional and residential community by providing convenient access to and amid 's . Kawana Shoppingworld, situated in Buddina on Queensland's Sunshine Coast, functions as a sub-regional lifestyle centre one hour north of . Anchored by Woolworths, Coles, , , and , it houses over 150 specialty stores and six mini-majors, with a of 38,415 square meters. The centre plays a vital community role through its emphasis on family entertainment and local events, drawing from the growing Sunshine Coast population and achieving strong annual sales of around $328 million. Birkenhead Point Brand Outlet in , , offers a premium discount shopping experience on a 3.7-hectare waterfront site six kilometers from Sydney's CBD. Featuring over 120 stores with international brands such as , , , Coach, and , its 33,417 square meter supports value-driven and waterfront dining. As Sydney's largest brand outlet, it attracts regional visitors and enhances community leisure with three hours of free parking and seasonal promotions. South Village in Kirrawee, 25 kilometers south of , operates as a centre with a focus on convenience and fresh offerings. Anchored by Coles and , it includes over 30 specialty stores specializing in dining, services, and markets like Panetta Mercato. Spanning 14,080 square meters of GLA, the centre integrates with 750 surrounding residences, promoting daily community interactions through late-night dining and essential retail in the . Rhodes Waterside, co-located with in Sydney's precinct, provides a comprehensive shopping destination amid residential and office growth. Key anchors include Coles, , , and , supporting a 34,646 square meter with essential and home goods . The centre's proximity to transport and enhances its community function as a one-stop hub for families and workers in the . A notable renewal project within Mirvac's portfolio is the $2 billion Harbourside redevelopment in , which includes a significant component as part of a mixed-use precinct. The , approximately 10,000 square meters of premium as part of 35,000 square meters of combined and , will feature diverse restaurants, national and international brands, and activated promenades to revitalize the waterfront. This initiative aims to reconnect the community with Sydney Harbour through enhanced public access and experiential shopping, with construction advancing in partnership with .

Significant Industrial Properties

Mirvac's industrial portfolio emphasizes high-quality logistics and warehousing facilities along Australia's eastern seaboard, particularly in , supporting advanced and operations. Key assets include the Industrial Estate in Kemps Creek, NSW, a 56-hectare development featuring nine warehouses with a total net leasable area (NLA) of 122,468 square meters across select buildings. Strategically located just 10 kilometers from the , provides scalable for tenants requiring efficient and capabilities, contributing to Mirvac's $1.704 billion industrial holdings valued as of June 2025. Another flagship property is Switchyard in , NSW, a 14-hectare site delivering 72,594 square meters of NLA in premium warehouse spaces designed for scalability and flexibility. Opened in , Switchyard incorporates cutting-edge amenities such as onsite cafés and sustainable features targeting a 5 Star Green Star rating, enhancing operational efficiency for tenants in Sydney's industrial precinct. This asset forms part of the Mirvac Industrial Venture (MIV), a $370 million with Retirement Trust launched in 2023, with Switchyard as its seed investment. Mirvac's portfolio also includes established warehouses like 271 Lane Cove Road in North Ryde, NSW, an 11,516 square meter facility combining office and warehouse space adjacent to Macquarie Park transport hubs, facilitating advanced manufacturing and distribution on Sydney's northern corridor. Complementing these are joint venture assets totaling approximately 76,000 square meters, such as the 75,791 square meter Industry Park, which bolsters Mirvac's presence in key logistics nodes. Historical expansions, including the 2014 acquisition of a $224 million portfolio of five industrial properties from Altis Property Partners, have solidified current holdings in high-demand eastern seaboard locations.

Sustainability and Community Impact

Environmental Initiatives

Mirvac has committed to achieving net positive emissions for Scope 1 and 2 across its operations since fiscal year 2022 (FY22), nine years ahead of its original 2030 target, through measures such as onsite renewable energy generation and improvements. The company aims for net positive emissions across its entire portfolio by 2030, including Scope 3 emissions, aligned with the (SBTi), with validation submitted in 2024. This strategy emphasizes reducing carbon intensity, which has decreased by 84% from FY19 to FY22, while expanding net positive impacts through avoided emissions. In terms of building standards, Mirvac's office portfolio maintains an average NABERS Energy rating of 5.3 Stars as of FY24, with 16 assets achieving 5 Stars or higher, reflecting a focus on energy-efficient design and operations. Developments incorporate systems, with 3.9 megawatts (MW) of commercial onsite solar installed by mid-2025, alongside green spaces to enhance urban . These elements contribute to , evidenced by an average NABERS Water rating of 4.5 Stars across the portfolio. Broader environmental initiatives include the use of sustainable materials in , targeting 25% recycled in major materials by 2030 and preferring lower-carbon alternatives like with 30-40% reduced emissions. Mirvac integrates considerations into masterplans, diverting 96% of from landfills to support regenerative practices. The company produces annual reports, including its sixth on Climate-related Financial Disclosures (TCFD) report in FY24, and has maintained a top global ranking in Equileap's Report since 2022, achieving #1 in 2022 and 2023, and top 10 in 2024. Mirvac's innovations in placemaking prioritize low-carbon urban environments by embedding regenerative design principles, such as life-cycle assessments in the development process and supplier partnerships for environmentally certified materials. These efforts extend to industrial assets, with 2.5 MW of solar capacity added, fostering resilient, nature-positive communities.

Social and Community Contributions

Mirvac has demonstrated a strong to through substantial community investments and initiatives aimed at supporting diverse suppliers. In FY24, the company allocated $13.1 million to community investment programs, contributing to a cumulative total of $72.3 million since FY18. Additionally, Mirvac spent $15.3 million on goods and services from social and suppliers during the same period, advancing toward its target of directing $100 million in social by 2030. The company's workforce reflects a focus on diversity and inclusion, fostering an environment that values varied backgrounds and perspectives. Approximately 45% of Mirvac's employees are from and Millennial cohorts, with the workforce encompassing over 25 ethnicities and proficiency in 33 languages. Furthermore, 93% of employees reported pride in working for the company, underscoring high levels of engagement and satisfaction. Mirvac supports community engagement through targeted programs that address housing affordability and urban revitalization. In 2025, the company launched the First Home Buyer Hub, providing resources, expert guidance, and information on incentives to assist first-time buyers in navigating the . Urban renewal projects, such as the revitalization of historic sites like Walsh Bay in and the Locomotive Workshop precinct, integrate community benefits by preserving heritage while enhancing local amenities and accessibility. Mirvac's social contributions have earned widespread recognition, including over 800 industry awards for its developments and operations. In 2022, the company was ranked global number one for by Equileap, achieving a score of 79% based on balanced representation at board and executive levels.

References

  1. [1]
    Mirvac | Award-Winning Australian Property Developer | Mirvac
    Mirvac is a leading development and management property group, specialising in residential, retail, office & industrial, build to rent and funds management ...
  2. [2]
    Mirvac Group Company Profile - GlobalData
    Mirvac Group (Mirvac) is an integrated real estate development company. It is involved in the creation and management of residential, office, industrial, ...
  3. [3]
    Mirvac Group (MGR.AX) Company Profile & Facts - Yahoo Finance
    Founded in 1972, Mirvac is an Australian Securities Exchange (ASX) listed company, with an integrated asset creation and curation capability. We own and manage ...
  4. [4]
    Mirvac Group | Company Overview & News - Forbes
    The Company is engaged in real estate investment, development, hotel management and investment management.
  5. [5]
    Our Legacy
    ### Summary of Mirvac's History, Key Milestones, Founding, Growth, and Current Status
  6. [6]
    Mirvac Group - MGR.AX - Reuters
    Mirvac Group is an Australia-based company, which is property investment for the purpose of deriving rental income and investments in unlisted funds.
  7. [7]
    Mirvac Ltd - Company Profile and News - Bloomberg Markets
    Mirvac Ltd. provides property development and construction, hotel operations and property funds, and asset management. Mirvac conducts business throughout ...
  8. [8]
    Acquisition of James Fielding Group (“JFG”) - Mirvac
    Read about Mirvac's Acquisition of James Fielding Group. See the explanatory memorandum, constitution of the investment, merger agreement and more.Missing: 2005 | Show results with:2005
  9. [9]
    Contact - Mirvac
    Sydney Office - Head office. Level 28, 200 George St, Sydney, NSW, 2000 Australia +61 2 9080 8000 ; Brisbane Office. Heritage Lanes, Level 14, 80 Ann StreetResidential · Media Enquiries · Investor Relations · Retail Partnerships
  10. [10]
    https://www.mirvac.com/about/our-leaders/board-members/robert-sindel
  11. [11]
    Campbell Hanan - Mirvac
    Prior to this, Campbell was the CEO of Investa Office, a role he held since 2013. He has 30 years of experience in the property and funds management ...
  12. [12]
    Executive Leadership Team - Mirvac
    Executive Leadership Team · Campbell Hanan · Courtenay Smith · Chris Akayan · Amy Menere · Scott Mosely · Stuart Penklis · Richard Seddon · Victoria Tavendale.Stuart Penklis · Scott Mosely · Campbell Hanan · Richard Seddon
  13. [13]
    Board Members - Mirvac
    Group CEO & Managing Director. Campbell Hanan was appointed Group Chief Executive Officer & Managing Director and a Director of the Mirvac Board in March 2023.Jane Hewitt · Christine Bartlett · Damien Frawley · James Cain<|control11|><|separator|>
  14. [14]
    [PDF] Corporate governance statement 2025 - Mirvac
    Aug 15, 2025 · During FY25, Rosemary Hartnett was appointed as an independent Non-Executive Director and will stand for election at the 2025 AGM. Directors' ...
  15. [15]
    Mirvac names new CEO to replace Susan Lloyd-Hurwitz - AFR
    Oct 28, 2022 · Mr Hanan, who joined the ASX-listed developer and landlord in 2016 from Investa, where he served as head of office, is head of Mirvac's ...
  16. [16]
    Richard Webby - Mirvac
    Richard Webby joined Mirvac in October 2025 as the Chief Digital Officer. Richard has vast experience in delivering enterprise and consumer-facing digital and ...
  17. [17]
    Past Projects | Mirvac
    Built in 1972, Montrose was Mirvac's first ever development which comprised of a single block of 12 apartments situated in Rose Bay, in Sydney's East.
  18. [18]
    Urban Development Act 1970: Legacy & Impact On Australian Cities
    May 5, 2025 · Notable developments like Canberra's expansion and the growth of Western Sydney's satellite cities were products of these new powers. It also ...
  19. [19]
    How the 1980s Property Boom Created a Wealth Divide That Still ...
    Jun 24, 2025 · Purchasing property in inner Melbourne suburbs like Fitzroy, Carlton or Northcote in the early 1980s turned out to be a gateway to multi-generational wealth.
  20. [20]
    History - Mirvac
    The merger between Mirvac Group and JFG in January 2005 brought together two respected and experienced management teams in property investment and development.
  21. [21]
    Mirvac bulks up with move on Fielding - The Sydney Morning Herald
    Oct 13, 2004 · The consolidated group will have assets of $4.9 billion, an investment development pipeline of $2.3 billion, and funds under management ...
  22. [22]
    Mirvac makes move-in offer - The Age
    Oct 13, 2004 · "The JFG acquisition will allow Mirvac to participate in new alliances and gives it access to JFG's $1.5 billion investment development pipeline ...
  23. [23]
    [PDF] Mirvac Property Trust
    Aug 15, 2025 · Key operational highlights for the year ended 30 June 2025: Operational results were impacted by the disposal of $1.4bn of non-core assets over ...
  24. [24]
    [PDF] Annual report - Mirvac
    Aug 15, 2025 · We have three core business segments that drive our financial performance and underpin our urban strategy: Investment, Funds, and Development.
  25. [25]
    [PDF] Sustainability Report 2022 Mirvac Group
    In FY22, we met our ambition to be net positive carbon for our scope 1 and 2 emissions nine years ahead of schedule, and we were the first Australian ...
  26. [26]
    [PDF] FY25 Additional Information - Mirvac
    Aug 15, 2025 · We own and manage assets across office, retail, industrial and the living sectors in our investment and Funds portfolios, with approximately.
  27. [27]
    Our Performance | Mirvac
    Net Positive Carbon by 2030: An update on Mirvac's approach Download; FY25 Sustainability Governance & Reporting Download; Mirvac's Gender Pay Gap Employer ...Missing: community | Show results with:community
  28. [28]
    News & Media - Mirvac
    MWOF continues strong performance. 10 November 2025. The Mirvac Wholesale Office Fund (MWOF) has continued its strong performance, topping out the index for ...
  29. [29]
    [PDF] 22 October 2025 MIRVAC 1Q26 OPERATIONAL UPDATE - AFR
    Oct 22, 2025 · MWOF raised a further $65m of capital, with a new unitholder introduced during the quarter, and gearing low at. ~25%. • grew the BTR Venture ...
  30. [30]
    Mirvac: Residential
    Since we started out in 1972, Mirvac has become one of Australia's most trusted residential property developers, creating high-quality homes that enable ...Residential · Mirvac Quality · Residential Customer Service · Projects
  31. [31]
    All Projects - Mirvac
    Browse all of Mirvac's award-winning Residential apartment projects and masterplanned communities across NSW, Queensland, Victoria and Western Australia.NINE by Mirvac · Projects · Highforest · The Albertine
  32. [32]
    First Home Buyer Hub - Guides, Grants & Expert Tips | Mirvac
    Mirvac's First Home Buyer Hub is here to guide you every step of the way ... first home buyers in understanding the home buying process in Australia.Missing: 2025 | Show results with:2025
  33. [33]
    Connection - Mirvac
    Mirvac aims to create connected communities by investing in social infrastructure, addressing loneliness and isolation, and creating places where people feel ...Missing: activities | Show results with:activities
  34. [34]
    Strategy & Purpose - Mirvac
    Since 2018, Mirvac has shared the purpose to reimagine urban life, and this has become the foundation on which our business strategy is built.Missing: market scale social renewal
  35. [35]
    The Legacy Collection | Premium Residences Now Selling | Mirvac
    It confirms Mirvac's exceptional track record, financial stability, and commitment to excellence. With over 800 awards won and more than 50 years' experience, ...
  36. [36]
    [PDF] Social Return on Investment - Mirvac
    As a leading Australian developer, we're passionate about helping to create sustainable and resilient communities where people feel healthy, happy, connected ...
  37. [37]
    Home
    ### Summary of Mirvac's Build-to-Rent Models (LIV)
  38. [38]
    The power of place | Mirvac
    Cities once divided into distinct residential and commercial precincts are slowly being reintegrated in many of Mirvac's large scale urban renewal projects, ...
  39. [39]
    Housing crisis could run eight more years: Mirvac boss - AFR
    Oct 16, 2024 · Australia's biggest developers have warned the housing crisis could last for close to a decade longer if state governments do not rein in ...
  40. [40]
    Research Update: Mirvac Wholesale Office Fund Out - S&P Global
    Oct 16, 2025 · On Oct. 17, 2025, we revised the rating outlook on MWOF to stable from negative. We also affirmed our 'A-' long-term issuer credit rating ...
  41. [41]
    Mirvac Wholesale Office Fund Outlook Revised To S - S&P Global
    Oct 16, 2025 · On Oct. 17, 2025, we revised the rating outlook on MWOF to stable from negative. We also affirmed our 'A-' long-term issuer credit rating ...
  42. [42]
    [PDF] 15 August 2025 MIRVAC GROUP FY25 RESULTS
    Aug 15, 2025 · • launched a successful capital raise in Mirvac Wholesale Office Fund (MWOF), which maintained gearing of 26.3%. MWOF was the top performing ...
  43. [43]
    [PDF] Property Compendium - Mirvac
    Aug 15, 2025 · Comprising 54%1 of Mirvac's investment property portfolio, the office portfolio is focused on the core markets of Sydney and. Melbourne and has ...
  44. [44]
    Mirvac and Australian Retirement Trust welcome IVE group to Aspect
    Jul 23, 2025 · Due for completion in 2027, Aspect Industrial Estate will include 245,000 square metres of state-of-the art industrial warehouses and is ...Missing: manufacturing | Show results with:manufacturing
  45. [45]
    [PDF] FY25 Results 15 August 2025 - Mirvac
    Aug 15, 2025 · This Presentation includes forward looking statements, opinions and estimates which are based on assumptions and contingencies which can change ...
  46. [46]
    Property Portfolio
    **Summary of Mirvac's Retail Portfolio:**
  47. [47]
    Mirvac commences construction at latest Sydney infill project in West ...
    Nov 19, 2024 · Mirvac has officially commenced construction on its new Highforest community in Sydney, marking the start of the $830 million project.<|control11|><|separator|>
  48. [48]
    Construction Update June 2025 – Highforest by Mirvac
    Jun 15, 2025 · Since we broke ground at the West Pennant Hills site last year, we have made steady progress on houses in the Treeview precinct, which ...
  49. [49]
    Harbourside Residences by Mirvac: Exclusive Waterfront ...
    Discover luxury living in Sydney Harbour's mixed-use precinct, offering elegant residences, penthouses, luxury waterfront views and exclusive wellness ...An urban oasis · Vibrant Connected Retail Hub · Amenity · Vision
  50. [50]
    Isle Waterfront Newstead by Mirvac
    Isle is the latest addition to Mirvac's QLD Waterfront Newstead Precinct - offering luxury residential apartment living with innovative, natural design.Interiors · Location · Amenity · Architecture
  51. [51]
    Waterfront Newstead precinct: Mirvac completes Quay, delivering ...
    Sep 11, 2025 · Mirvac has officially opened Quay, the newest addition to its award-winning Waterfront Newstead masterplan, delivering 135 apartments ...
  52. [52]
    Smiths Lane by Mirvac - Land & Townhouses For Sale in Clyde North
    Explore land and townhouses for sale in Clyde North at Smiths Lane by Mirvac – a vibrant new community designed for families, lifestyle and future growth.Visit Us · Building at Smiths Lane · Mirvac Quality · Explore
  53. [53]
    EY CENTRE, 200 George Street, Sydney - Mirvac
    EY CENTRE, 200 George Street, Sydney. A landmark building designed by architects Francis-Jones Morehen Thorp, 200 George Street embraces innovation and ...
  54. [54]
    Mirvac Headquarters | Articles - IWBI Resource Hub | WELL v2
    The EY Centre at 200 George Street, a commercial building and location of the new Mirvac headquarters, is the first project in Australia to be awarded WELL ...
  55. [55]
    Collins Place - Mirvac
    Collins Place, designed by I.M Pei, includes office towers, Sofitel, professional suites, a retail plaza, and has a total area of 102,273.5 sqm. Major tenants ...Missing: valuation | Show results with:valuation
  56. [56]
    101-103 Miller Street, North Sydney - Mirvac
    Featuring a signature grand entrance lobby, efficient floorplates and a variety of excellent features, 101-103 Miller St perfectly showcases your profile.Missing: NLA | Show results with:NLA
  57. [57]
    101-103 Miller Street and Greenwood Plaza
    PROPERTY INFORMATION ; Address. 101 - 103 Miller Street & 36 Blue Street, North Sydney, New South Wales ; Land Tenure. Freehold ; Co-Owners' Interests. CICT: 50.0%Missing: details | Show results with:details
  58. [58]
    About Mirvac Retail
    Mirvac Retail owns and manages a dynamic and growing portfolio of shopping centres across Australia's eastern seaboard with a strategic focus on growth assets ...Missing: major | Show results with:major
  59. [59]
    Broadway Sydney - Mirvac
    The centre is anchored by Coles, Kmart, Target, Hoyts, ALDI, Apple, H&M, LEGO, Mecca, Sephora and features approximately 140 specialty stores. Visit Website ...
  60. [60]
    Property Portfolio - Mirvac
    View Mirvac's portfolio of our office, industrial, retail and residential properties across ACT, NSW, QLD, VIC and WA and get to know these assets.Missing: Melbourne | Show results with:Melbourne
  61. [61]
    East Village | Mirvac
    East Village is an award-winning mixed-use retail center in Zetland, NSW, with over 50 stores, including Coles, Audi, and Virgin Active. It opened in 2014.
  62. [62]
    Greenwood Plaza - Mirvac
    Greenwood Plaza is a three-level centre at the base of Mirvac's iconic 101-103 Miller Street office tower, providing a major pedestrian thoroughfare.
  63. [63]
    Kawana Shoppingworld - Mirvac
    The centre incorporates Woolworths, Coles, ALDI, Big W, six mini-majors and approximately 150 specialty stores. The centre successfully launched Event Cinemas ...<|control11|><|separator|>
  64. [64]
    [PDF] KAWANA SHOPPINGWORLD BY MIRVAC RETAIL
    Mirvac Kawana Information Memorandum, 2017. 7. 8. $327.9M. MAT Annual Retail Sales. KAWANA OVERVIEW. BY THE. NUMBERS. 38,415m2. Total GLA. 1,895. Parking Spaces.Missing: anchors | Show results with:anchors
  65. [65]
    Birkenhead Point - Mirvac
    Birkenhead Point Brand Outlet is a Mirvac shopping centre situated six kilometres from the Sydney CBD on a prime 3.7 hectare waterfront site.
  66. [66]
    [PDF] Birkenhead Point Brand Outlet - Mirvac
    GLA. 33,417 SQM. CAR SPACES. 1,346. ACQUISITION DATE. Dec-14. LAST EXTERNAL ... Birkenhead Point Brand Outlet is situated five kilometres from the Sydney CBD ...
  67. [67]
    South Village | Mirvac
    South Village shopping centre, Kirrawee, features a smorgasbord of dining, shopping and lifestyle options joining supermarkets Coles and ALDI.
  68. [68]
    Rhodes Waterside - Mirvac
    The centre is home to major retailers including Coles, ALDI, Kmart, Bing Lee ... A one-stop shop for shopping, entertainment, and other essential services.
  69. [69]
    Rhodes Waterside - Wikipedia
    Rhodes Shopping Centre featured IKEA, Coles, Bi-Lo and Reading Cinemas. In December 2006 Walker Corporation put the centre up for sale which ...
  70. [70]
    Vibrant Connected Retail Hub - Harbourside by Mirvac
    Harbourside by Mirvac is reimagining Sydney's waterfront as a vibrant connected retail hub. Discover luxury shopping, dining, and lifestyle experiences.Missing: renewal | Show results with:renewal
  71. [71]
    [PDF] Mitsubishi Estate Joins Harbourside Mixed-Use Development in ...
    Sep 1, 2025 · Mitsubishi Estate Co., Ltd. (MEC) and Mirvac have announced a joint venture agreement for the delivery of the. Harbourside project in Sydney, ...
  72. [72]
    Mitsubishi Estate Joins Mirvac's $1.3B Sydney Harbourside Project
    Sep 1, 2025 · The complex will feature 35,000 square metres (376,737 square feet) of premium office and retail space, 10,000 square metres of public open ...
  73. [73]
    Australian Retirement Trust acquires major stake in industrial estate
    Jun 28, 2024 · Last June, Mirvac and ART launched the $370 million MIV. Its seed asset was the Switchyard in Auburn, NSW, which will deliver approximately ...
  74. [74]
    271 Lane Cove Road - Mirvac Group: PC 1H12
    The property is situated adjacent to the Macquarie Park Railway Station on the corner of Lane Cove and Waterloo Roads. The site has development approval for ...
  75. [75]
    Mirvac acquires $224m industrial portfolio in Australia - PERE
    Nov 6, 2014 · Sydney-based Mirvac Group has acquired five industrial assets from Altis, an Australian private equity real estate group for a total of ...
  76. [76]
    [PDF] Net Positive Carbon by 2030 - Mirvac
    Jun 2, 2025 · In 2022, Mirvac announced an ambitious goal to achieve 'net positive'1 in the challenging area of. Scope 3 emissions by.
  77. [77]
    [PDF] Sustainability Report FY24 - Mirvac
    We are pleased that our office portfolio achieved an impressive 4.5 Star average NABERS. Water rating in FY24. As a leading diversified property company, we ...
  78. [78]
    Mirvac named world's most gender equitable company by Equileap
    Mar 3, 2022 · Mirvac has been ranked number one in the world in Equileap's Global Report on Gender Equality for the first time, leading a global field of 4, ...You Might Also Be Interested... · Mirvac Named #1 Best... · Mirvac Celebrates Dual...
  79. [79]
    [PDF] Gender Equality Report & Ranking - Equileap
    Mirvac. Australia. Real Estate. 76%. 9. L'Oréal 1. France. Consumer Staples. 76%. 10. IFF 1. United States. Materials. 76%. 11. Allianz 1. Germany. Financials.
  80. [80]
    Mirvac's not wasting a chance to give back - Social Traders
    Aug 6, 2024 · We have an ongoing focus on Social Procurement and a target to direct $100 million of our procurement spend to the social sector by 2030.<|control11|><|separator|>
  81. [81]
    Alicia Strano - udiawa #mirvac - LinkedIn
    Sep 29, 2022 · ... ethnicities and 33 languages spoken. Gen Z and Millennials represent approximately 45% of Mirvac's workforce, with two of my personal ...
  82. [82]
    Senior Project Engineer - Career site
    Sep 25, 2025 · 93% of our employees said that 'they were proud to work for Mirvac' · Diverse workforce with over 25 ethnicities and 33 languages spoken ...
  83. [83]
    walsh bay, nsw - Mirvac Design
    Walsh Bay is one of the most significant urban renewal projects of a heritage precinct in Australia by Mirvac, incorporating historical influence in design.Missing: revitalizations | Show results with:revitalizations
  84. [84]
    Locomotive Workshop Revitalization / Sissons Architecture - UNI.xyz
    Apr 26, 2025 · Mirvac's revitalization of the Locomotive Workshop precinct sought to reverse this trend by reintroducing the site to its community. The design ...
  85. [85]
    Awards and Recognition - Cobbitty by Mirvac
    Explore Mirvac's award-winning legacy. With over 800 industry awards, Cobbitty by Mirvac is backed by decades of excellence, trust, and innovation.
  86. [86]
    [PDF] GENDER EQUALITY GLOBAL REPORT & RANKING - Equileap
    Mar 4, 2022 · Mirvac is the top-performing company globally, with a gender equality score of 79%. The company achieved gender balance at the board, senior.