Mirvac Awarded First 5 Gold Star iCIRT Rating in Australia

Thursday, 24th November 2022

Mirvac Constructions has become the first business in Australia to be awarded the highest possible 5 Gold Star iCIRT rating, issued by regulated ratings agency Equifax*, a global data, analytics and technology company.

The Independent Construction Industry Rating Tool (iCIRT) is designed to aid property buyers by assessing an entity’s capability, capacity and ability to deliver a trustworthy building.

The rating tool is one of several pillars of reform introduced in NSW in recent years and is intended to raise building standards and consumer confidence in built form within the state. Mirvac is the first to achieve the prestigious 5 Gold Star rating following a rigorous assessment process.

Mirvac’s Head of Residential, Stuart Penklis said the 5 Gold Star rating had been earned through five decades of designing and building high quality, well-designed buildings across the commercial and residential sectors.

“We are incredibly proud to be the first, and so far, only, group in Australia to be awarded the highest possible 5 Gold Star rating,” said Mr Penklis.

“Mirvac has consistently delivered a track record of quality development and now our achievement has been endorsed through an independent assessment process. Raising the standard of construction in NSW is critically important to protect purchasers and restore confidence in buying off the plan and newly built apartments.”

Mr Penklis said Mirvac’s integrated business model in which design, development, construction, marketing and sales are all under one roof, plays a significant role in delivering design excellence and unparalleled quality product.

“The integration of best in field experts involved in every step of the process, from conception to completion to after sales customer care, is a clear competitive advantage for Mirvac,” said Mr Penklis. “For the customer, this guarantees absolute confidence that the mark of Mirvac quality is embedded in every little detail on each and every project.”

“Mirvac enjoys a high level of customer loyalty with more than a third of new apartment projects bought by repeat Mirvac purchasers. Trust like that is not manufactured overnight; it is the result of five decades in which we have built some of the nation’s most enduring iconic buildings that have stood the test of time.”

Brad Walters, Head of Product and Rating Services, Equifax said “Equifax is pleased to announce that Mirvac has achieved a 5 Gold Star rating, the highest rating available under iCIRT. Following a detailed, independent and rigorous review, Mirvac were observed to have excelled across each of the six assessment criteria.

“It has been a difficult few years across the construction industry and iCIRT is playing a pivotal role in rebuilding trust and transparency in the sector. It is important to recognise those that have and continue to demonstrate a high level of resilience and reliability in the delivery of trustworthy built assets.”

Mirvac General Manager of Design Management and Construction, Jason Vieusseux, said the 5 Gold Star rating is testament to our unflinching attention to detail and the pursuit of quality that is applied on every Mirvac project.

“Even in the current climate where there are enormous pressures on construction due to wet weather, constrained supply chains and workforce shortages, we never cut corners,” said Mr Vieusseux.

“That uncompromising approach to construction quality has enabled us to retain and attract the very best construction professionals and work with experienced subcontractors who take pride in their workmanship and the finished products we deliver.

“Within our construction team, which comprises nearly 400 employees across the eastern states, we have decades of experience and knowledge which complements the technology and data driven processes that are now being used by Mirvac Constructions to build with greater precision and achieve higher quality outcomes than ever before.

“The focus on construction quality over the past few years and the efforts of the NSW Building Commissioner have made it more difficult for sub-standard builders to operate. This is going to benefit every property buyer in NSW and lift the reputation of the entire construction sector.”

Mirvac is currently progressing a number of residential apartment and master-planned community projects including Nine by Mirvac, Green Square, Langlee (in New South Wales), Forme at Tullamore (in Victoria), Waterfront in Newstead, and following the recent first sod turned, Charlton House at Ascot Green at the Brisbane Racing Club (in Queensland). Mirvac’s first build to rent project in Melbourne, LIV Munro reached practical completion this month is set to open next month.

About Mirvac 

Founded in 1972, Mirvac has been making a positive contribution to our cities and the urban landscape for 50 years, through our connected communities, exceptional workplaces and thriving shopping centres. We are an Australian Securities Exchange (ASX) top 50 company, met our target to be net positive in scope 1 and 2 carbon emissions nine years early in 2021, and in 2022, we were ranked number one in the world for gender equality by Equileap. Our purpose, to Reimagine Urban Life, inspires us to be innovative and bold, as we continue to create and curate extraordinary places and experiences that enrich people’s lives.

About Mirvac Constructions

Iconic Mirvac Constructions projects include Harold Park in Glebe and Walsh Bay in Sydney, NSW. The urban renewal of Harold Park unlocked more than 10 hectares of prime land, once the home of harness racing in NSW, 2.5 kilometres from the CBD. Developed in stages over several years, Mirvac built more than 1,250 apartments and terrace homes, restored and adapted the former tram depot into Tramsheds, the thriving social and retail heart of the community, and dedicated 3.8 hectares of parkland to the City of Sydney. Harold Park has won multiple awards and has been acclaimed as one of the city’s best sustainable developments and a model for urban renewal.

Walsh Bay, a joint venture partnership between Mirvac and Transfield, was one of the most significant urban renewal projects of a heritage precinct in Australia. Designed by Mirvac Design, in association with PTW, Tropman & Tropman Architects and Bates Smart, the redevelopment of Walsh Bay was one of Mirvac’s most high profile developments. Its success was partially due to the site’s history being imaginatively incorporated into the built form. Pier 6/7, a purpose-built residential pier, sensitively combines the historic fabric with modern architecture.

About Equifax

At Equifax (NYSE: EFX), we believe knowledge drives progress. As a global data, analytics, and technology company, we play an essential role in the global economy by helping financial institutions, companies, employers, and government agencies make critical decisions with greater confidence. Our unique blend of differentiated data, analytics, and cloud technology drives insights to power decisions to move people forward. Headquartered in Atlanta and supported by more than 14,000 employees worldwide, Equifax operates or has investments in 24 countries in North America, Central and South America, Europe, and the Asia Pacific region. For more information, visit www.equifax.com.au or follow the company’s news on LinkedIn.

* Equifax Australasia Credit Ratings Pty Ltd (Equifax) is the issuer of iCIRT. Equifax Australasia Credit Ratings Pty Ltd is a regulated ratings agency and a wholly-owned subsidiary within the Equifax Group.

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