Mirvac Group (MGR)

Shares / Stock Code

MGR

Stock Exchange / Sharemarket

Australian Securities Exchange

Mirvac Group (MGR) is a company engaged in the real estate development of both non-residential and residential projects and management of real estate funds. MGR was listed on the Australian Stock Exchange on the 16th of June 1999. Its average annual revenue reaches approximately $2 billion out of its issued capital of approximately $1.8 billion. Its headquarters is located in North Sydney, Australia and to date; around 5,500 people are employed in the company. Mirvac Group operates mainly in four business segments: property development, property investment, fund management and hotel.

The property development business segment of Mirvac Group focuses on property development and construction of commercial, residential, retail and industrial development across Australia while Mirvac's property investment business segment is engaged in the asset management and investment of industrial, commercial, retail and hotel properties primarily in Eastern Australia done with the intent to produce rental income across Australia. This business segment also has investments in other associated entities such as JF US Industrial Trust, JF Infrastructure Yield Fund and JF meridian Trust.

The fund management business segment of Mirvac Group engages in the management of funds amounting to around $4 billion through the Mirvac Property Trust and $8.3 billion worth of funds of over 40,000 retail and institutional investors in the areas of real estate debt, real estate equity and infrastructure while the hotel business segment of the group is in charged of managing hotels and resorts, serviced apartments both in Australia and New Zealand. The Mirvac Hotels & Resorts has around 5,000 rooms that are being managed in 8 properties across New Zealand and Australia.

Mirvac Group Company History

In the latter part of 1960s and early 1970s, Mirvac was founded through a joint venture. It was modified as Mirvac in 1972. In the first six months of 1980, Mirvac extended its operations into hotel management and other related fields. In 1987, it joined the Australian Stock Exchange as an organisation owned by the public.

Mirvac Limited was created in July 1999 when Mirvac Property Trust, Mirvac Limited and Capital Property united. Village Center, St. Marys and Waverley Gardens shopping center in the Eastern Melbourne were among the investments acquired in 2002 for an amount of AUD$32.415 million.

In 2003, an island founded in Darling Harbour, Sydney was taken with the plan to sell and improve office and residential building. The company purchased 5,700 square meters of land in Canterbury Road, Melbourne to construct a luxury apartment. Burswood Limited and Mirvac planned to build the largest residential development to be done by only one developer in Western Australia.

James Fielding Group was taken in 2004. It opened Industrial property Trust in US in April 2005. Atlas Holdings at Nexus Industrial Park located in Liverpool, Sydney gave Mirvac in May 2005 a major industrial commitment beforehand. Mirvac Resorts and Hotels and TMG Developments bought five star hotel Cairns International from Daikyo Group Australia for $83 million.

Mirvac's funds management division James Fielding Funds Management (JFFM) took most of the forestry and land assets for $NZ 104 million of Evergreen Forests in August 2005. 50% stake of Perpetual James Fielding (PJF) was sold to its partner Perpetual Trustees Australia in September 2005.2.68 hectares of land located in slacks Creek, Queensland was purchased by Mirvac for $8.0 million from Springwood.

The company opened an institutional real estate funds business which is Quadrant Real Estate Advisors in the US in January 2006. A 50/50 exchanged contract was signed by Mirvac and Australian Retirement Fund (ARF) to purchase for $60.2 million Goodsell Building found in Sydney from the NSW State Government in February 2006.

Seven Network in June 2006 sought an agreement with James Fielding Funds Management to go on with the attainment of all interest of seven Network in Melbourne's Telstra Dome for about $330 million. The interest in JF US Industrial Trust jumped to 9.95% of units. It also joined Australian Retirement Fund (ARF) to construct a 456-lot residential community located in South Western Sydney's Spring Farm.

50% interest of Chantrey was gained by Mirvac. Chantrey used to be a property consultancy business located in London. Its cost Mirvac 2.0 million in purchasing it in September 2006. City Pacific and Mirvac Group agreed to construct a residential community at Pimpama, Gold Coast in November 2006. Properties and Businesses of Walker were purchased by Mirvac for $1.124 billion.

Mirvac Group (MGR) Products and Services

Mirvac Group is a real estate group involved in various property developments, investment and management in properties such as:

  • Land
  • Residential homes
  • Units
  • Shopping centres
  • Offices
  • Commercial
  • Factories and Industrial
  • Warehouses
  • Car Parking
  • Motels and hotels

Mirvac Group Competitors

  • ING Industrial Fun
  • Lend Lease Corporation
  • Reading International
  • Stockland Trust Group

Mirvac Group (MGR) Locations and Subsidiaries

Mirvac Group Head Office
60 Margaret St
Sydney NSW 2000
Phone: (02) 9080 8000
Fax: (02) 9080 8111

Mirvac Ltd
Suite 103 2 Barry
Dr Canberra 2601
Ph: (02) 6247 4333 Fax: (02) 6249 6581

Mirvac Ltd
Level 2, Suite 205
30 Cowper St
Parramatta 2150
Ph: (02) 9893 8800 Fax: (02) 9893 8844

Mirvac Ltd
380 St
Kilda Road
South Melbourne 3205
Ph: (03) 9645 9400 Fax: (03) 9695 9444

Mirvac Ltd
Level 2, 164 Grey St
Southbank Brisbane 4101
Ph: (07) 3859 5888 Fax: (07) 3367 0010

Mirvac Ltd
Mirvac Fini (WA) Pty Ltd
1002 Hay St
Perth 6000
Ph: (08) 9424 9900 Fax: (08) 9321 3838

Mirvac Group Subsidiaries>

Newington Homes Pty Ltd
Mirvac Capital Pty Ltd
Notron (No. 341) Pty Limited
Mirvac Funds Limited
Mirvac (Docklands) Pty Ltd
Mirvac Management Limited
Mirvac Constructions (WA) Pty Ltd
Mirvac Queensland Pty Ltd
Mirvac Finance Limited
Mirvac Projects No 2 Pty Ltd
Mirvac (Beacon Cove) Pty Ltd
Mirvac Developments NZ Limited
Mirvac Victoria Pty Ltd
Capital Property Management Limited
Notron (No. 342) Pty Limited
Mirvac Real Estate Pty Ltd
Mirvac Properties Pty Ltd
Planned Retirement Living Pty Ltd
Mirvac Treasury Limited
Mirvac Precinct 2 Pty Ltd
Mirvac Constructions (Qld) Pty Ltd
Mirvac Properties Pty Ltd
Mirvac Constructions (Vic) Pty Ltd
Mirvac Parking Pty Ltd
Mirvac Walsh Bay Pty Ltd
Mirvac ESAT Pty Ltd
Mirvac Victoria Pty Ltd
Mirvac Home Builders (Vic) Pty Ltd
Mirvac Homes (Qld) Pty Ltd
Mirvac Property Advisory Services Pty Ltd
Mirvac Fini (WA) Pty Ltd
Mirvac (Beacon Cove) Pty Ltd
Mirvac Woolloomooloo Pty Ltd
Notron (No. 340) Pty Limited
Mirvac Homes (NSW) Pty Ltd
Mirvac Projects Pty Ltd
Mirvac International No. 3 Pty Limited
Mirvac Homes (WA) Pty Ltd
HPA Pty Ltd
Mirvac Constructions Pty Ltd

Other Mirvac Group Details

Mirvac Group Year Established: 1972
ACN: 003 280 699
D-U-N-S: 750264558
ABN: 92003280699
Previous Company Names:Presact Limited

Mirvac Group (MGR) Share Price

Submitted by Share Trading on 22 July, 2008 - 12:02

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