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
Giving back to the communities in which we operate is a key part of our business, and FY17 was another big year of positive contribution at Mirvac.
Our third annual National Community Day ran in October last year, with over 800 Mirvac staff volunteering at 47 charities across the country. Our activities varied from helping Tribal Warriors with boat maintenance, to sprucing up at the YMCA’s Y Hotel in Sydney’s Redfern to attract more guests, and knitting squares for the Wrap with Love collective.
Mirvac also continues to support employees who want to make a difference, matching workplace giving up to the value of $10,000 per year, and fundraising donations to the value of $200 per year per employee.
Employees can apply for additional funding from the Charity Committee for any project initiatives they’re working on, and are given one day a year to volunteer for a cause of their choice.
In 2010, Mirvac gave its support to the creation of the Living Centre: a state-of-the-art wellness centre for people with breast cancer, operated by The Pink Foundation. Designed as a sanctuary for breast cancer patients and their loved ones, the centre provides a range of respite services at its central St Kilda location in Melbourne, from massage therapy and transport, to free access to their ‘Wig Bank’.
Our partnership with Think Pink has continued since the centre’s launch, with Mirvac providing practical assistance in the form of reduced rent and donated whitegoods. We donated an apartment on St Kilda Road to Think Pink to accommodate patients visiting Melbourne for breast cancer treatment.
In September last year, we agreed to a new three-year sponsorship agreement, enabling us to take our support of the Living Centre to the next level. Together with Freemasons Victoria, Mirvac will provide annual rent for the Living Centre for the next three years, and provide ongoing engagement opportunities for Mirvac’s employees and stakeholders with Think Pink.
We are proud to have helped the Living Centre to nurture and support thousands of women to date, and look forward to carrying the partnership forward.
Song Kitchen at 200 George Street, Sydney is our social enterprise café, where 100 per cent of profits are donated to the YWCA, a not-for-profit organisation that helps to assist women and children experiencing domestic violence. The café was profitable in its first year at 200 George Street, proving the success of its model.