Mirvac recently completed the settlement on the acquisition of Harbourside Shopping Centre in Darling Harbour in Sydney. Harbourside is a key acquisition for the Group, in line with strategy to unlock embedded value by leveraging Mirvac Retail’s integrated asset and investment management and development capability.
Located in Darling Harbour, Harbourside is one of the most popular lifestyle precincts in Australia with 26 million visitors, of which more than 6 million visitors visit the Centre each year. The precinct is currently undergoing a major revitalisation with the redevelopment of the Sydney International Convention, Exhibition and Entertainment Centre and a new hotel under construction.
Mirvac’s CEO and Managing Director, Susan Lloyd-Hurwitz said, “Harbourside presents an opportunity to gain greater market share in the Sydney CBD area by acquiring a key retail asset with exposure to the strongly performing food, catering and entertainment categories. The acquisition provides us with a repositioning opportunity and gives Mirvac a dominant position in the catchment together with our existing Broadway Shopping Centre”.