ASX Announcements
MGR FY24 Additional Information
Preliminary Final Report, Periodic Reports - Other, Company Presentation
- Aug 8, 2024
- 71 pages
Market Sensitive
Preliminary Final Report, Company Presentation
- Aug 8, 2024
- 32 pages
Annual Report, Full Year Accounts, Full Year Audit Review, Full Year Directors' Statement, Full Year Directors' Report
- Aug 8, 2024
- 46 pages
This Month
- Updated
- Earnings season
Building cost rises create horror year for Mirvac
One of the country’s largest property developers says profit margins on some big apartment projects have halved, pushing earnings significantly lower this year.
- Updated
- Nick Lenaghan
- Opinion
- Chanticleer
Housing crisis rages, but there’s no money in building flats
The property developer’s shock profit downgrade is all about its struggles to make apartment projects profitable, even as housing shortages worsen.
- James Thomson
Rising costs hit Mirvac margins, new homes
Property developer Mirvac blamed the steep rise in labour and material costs for halving its profit margins on some residential projects, triggering a 13 per cent fall in operating earnings this year.
- Michael Read and Nick Lenaghan
Canberra Airport developer Terry Snow dies
His biggest legacy was in property development and philanthropy, but his family also praised him as “a family man and a man who sought adventures”.
- Ronald Mizen
July
- Exclusive
- Funding
Construction start-up lands mega $105m deal
Melbourne software company HammerTech has landed a $105 million investment from Californian private equity shop Riverwood Capital.
- Tess Bennett
Office funds post their worst performance since GFC
ISPT 50 Lonsdale Street Property Trust and the Mirvac Wholesale Office Fund were the worst performers, posting declines in total return of more than 20 per cent.
- Campbell Kwan
Macquarie says it’s time to buy real estate stocks before rate cuts
The broker has warned that the “best” phases for ASX returns is behind us and is urging investors to buy more defensive companies amid signs that returns are starting to falter.
- Joshua Peach
- Opinion
- Property investment
This fledgling asset class is generating double-digit returns
Investors are earning attractive returns from land lease communities, which can generate an annuity-style income.
- Sam Tamblyn
UBS has a new suggestion for REIT investors – buy battered Mirvac
The bank’s analysts, in a 65-page overview of the sector, said the market had yet to confront the impact of higher interest rates. It expects two increases.
- Kylar Loussikian
Local REITs outpace broader market despite sagging asset valuations
Goodman Group was the standout performer in the 12 months to June 30, buoyed by rising demand from investors for exposure to data centres.
- Updated
- Kylar Loussikian
Crown Group founder fails to raise funds to buy back 473-unit site
Crown Group co-founder Paul Sathio had won the tender to buy the site but was unable to accrue enough funds by the settlement date.
- Campbell Kwan
June
Trump, Biden spar; ANZ-Suncorp deal gets nod; RBA’s rates humiliation
Read everything that’s happened in the news so far today.
Mirvac sells $1.3b stake in new tower to Mitsui
The transaction is the latest evidence of the company’s efforts to trade out of lower-quality office assets and focus on new, premium ones.
- Michael Bleby
City Tattersalls Club to sell Pitt St property after BlackRock walks
Should the deal complete as expected, City Tatts will lose ownership of the sprawling property, its crown jewel built via multiple acquisitions, after a century.
- Sarah Thompson, Kanika Sood and Emma Rapaport
- Exclusive
- Office
Minters to sit atop Mirvac’s 55-storey office tower
The top-tier law firm will take up the top floors of 55 Pitt Street, as Sydney’s legal eagles vie for the best perches across the CBD.
- Campbell Kwan and Maxim Shanahan
- Exclusive
- Industrial relations
Pay dispute delays construction of 1600 homes
Industrial action by workers at poles and wires company Endeavour Energy is stalling the delivery of 1600 homes and $1.2 billion worth of warehouses in Sydney.
- Campbell Kwan and David Marin-Guzman
GreenFort Capital targets $800m land lease portfolio
There’s a growing snowball of players and money rolling into the residential property play on one of Australia’s biggest demographic changes.
- Michael Bleby
- Exclusive
- Office
Mirvac set to sell two office towers at discounts of more than 20pc
Pricing for the latest deals on the office towers in Sydney and Melbourne – worth close to half-a-billion dollars in total - shows just how far values have fallen.
- Campbell Kwan and Nick Lenaghan
- Exclusive
- Retail property
Region Group ends two-year drought with $74m mall deal
The country’s biggest owner of suburban malls has made its first acquisition in two years after buying Canberra’s Cooleman Court centre from Mirvac.
- Larry Schlesinger
May
- Opinion
- Property market
The big fail in Australia’s housing
The Albanese government’s promises of 1.2 million homes over five years are now in the realm of political fantasy, despite the billions of dollars it has pledged for housing.
- Jennifer Hewett
