Mirvac Group 1Q27 Operational Update
Key points
- Resilient investment portfolio with high occupancy and positive leasing spreads
- Residential sales moderated as expected, with 429 net deposits and lots exchanged
- Strong development progress with key projects ahead of schedule
Full summary
Mirvac Group released its 1Q27 operational update, highlighting a resilient investment portfolio with high occupancy and positive leasing spreads across industrial, retail, and living sectors. The company reported 429 net deposits and lots exchanged in residential sales, moderated as expected. Development progress is strong, with key projects ahead of schedule, including topping out at Harbourside and 55 Pitt Street in Sydney and commencement of construction at SEED, Badgerys Creek, Sydney.
Guidance
FY27 operating earnings between 13.2 to 13.4 cents per stapled security (cpss) and distribution of 9.9cpss
Outlook
The company expects to achieve between 2,800 to 3,100 residential lot settlements in FY27, with a skew to the second half of the year.
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