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
One of the most exciting community achievements over the past 12 months was the Share campaign we ran to support our national charity partner, The Smith Family.
This seemingly simple idea was conceived by our Retail team, and grew to become a successful business-wide campaign, illustrating that great things happen when Mirvac works as one team.
The Share campaign began in the form of Share My Shoes: an initiative created and run by Mirvac’s Retail team. With journalist Sarah Harris as the ambassador, we launched a campaign asking shoppers to donate their old or unwanted shoes. Shoppers could drop their shoes off at any of our 16 retail centres, placing them in oversized donation ‘shoeboxes’ that were custom-made for the campaign. Around 11,800 pairs of shoes were donated, far surpassing our goal of 500. Sold in The Smith Family’s outlets at an average of $10 a pair, this added up to a donation of over $100,000.
Shoppers were also asked to go online and share snaps of the shoes they were donating, with the hashtag #sharemyshoes. For every hashtag, Mirvac Shopping Centres donated a dollar, as did the Mirvac Charity Committee. As well as adding to our grand total, it created interest on social media, encouraged shoppers to come in to our centres, and allowed us to build our customer database.
Following the success of Share My Shoes, Mirvac’s Office & Industrial team decided to pick up where our Retail team left off, launching the Share My Suit initiative with tenants in our office buildings asked to donate unwanted suits, handbags and shoes to be resold by The Smith Family.
To spread the word about Share My Suit, we sent out circulars to tenants in four of our Sydney office buildings, and placed collection boxes in the buildings’ foyers. In just three weeks, over 220 kilograms of clothes were collected, 50 per cent of which could be resold. The proceeds of the initiative were donated to The Smith Family’s Learning For Life program, supporting education for disadvantaged Australians.
So what will we be asking people to share next? Rest assured, we have more plans in store, so stay tuned.