Mirvac’s stock surged on new office acquisition in Melbourne

Mirvac Group climbed high on ASX as the company gets hold of future office development asset in Melbourne, VIC for $122 million. This deal represents 5.7% of initial yield.

In the statement released today Mirvac group revealed the acquisition of seven-level B-grade office asset at 383 La Trobe Street in Melbourne, VIC, which is located within Melbourne CBD’s legal precinct. It has approximately 10,200 square meters of office component and is located close to Flagship train station and other public transport services.

Since the site possess the potential for future redevelopment, the company indicates their plan to redevelop the site into a new A-grade office tower spanning over 40,000 square meters. [optin-monster-shortcode id=”wxhmli4jjedneglg1trq”]

Mirvac’s Head of Office & Industrial, Campbell Hanan stated that this acquisition would result in strengthening the presence of the company in key gateway city- Melbourne while adding up to the company’s existing commercial development pipeline of $3.1 billion.

On the good news of Melbourne site acquisition, Mirvac’s stock surged 1.633% to $2.490 on 4 September 2018 (6:16 PM AEST). There has been performance change of +5.60% over the past 12-month period.

Dividend Stocks To Buy

The Income available from dividends remains attractive for many investors.

We take a look at the best yields on the market and assess what they say about a company’s prospect.

One Thing is certain, though, Australia interest rates are still low, making income difficult to come by and keeping the focus for many investors on high yielding stocks. Kalkine’s team of analysts bought you handpicked report for “Top 25 Dividend Stocks For 2018.”

ASX-relevant Special Reports are published year-round to provide a detailed analysis into an investing opportunity or a potential risk to your portfolio.

Click here to get your free report.


The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. Kalkinemedia.com and associated websites are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376). website), employees and/or associates of Kalkine Pty Ltd do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.

Checkout our Free Dividend Stocks Report

Specially made for income-hungry investors, Invest in growing Franked Dividends an opportunity that should not be missed.

6 Cannabis Stocks under Investor’s Limelight…

Cannabis companies that sell both medicinal weed and recreational pot. Marijuana stocks to look at. Marijuana mergers and acquisitions. Dispensary data analytics. Upcoming marijuana IPO’s Those phrases have become increasingly common as marijuana legalization spreads.

Global spending on legal cannabis is expected to grow 230% to $32 billion in 2020 as compared to $9.5 in 2017, according to Arcview Market Research and BDS Analytics. As of June 29, 2018 the United States Marijuana Index, despite a lot of uncertainty around regulations, has over the past 1 year gained 71.49%, as compared to about 12% gain seen by the S&P 500.

Click here for your FREE Report