Mirvac looks to resource towns for growth

In search of future growth and development opportunities, renowned property development group

Mirvac has its sights set firmly on Queensland and Western Australia’s booming mining towns.

According to managing director Nick Collishaw, Mirvac is currently in talks with Coal and Liquefied Natural Gas (LNG) producers in an attempt to tackle the high demand for housing amongst mining employees.

Recently named the preferred developer of the iron-ore mining town Karratha in Western Australia, the company has embarked on a joint venture with the Pilbara region’s land authority, worth $1.5 billion.

"What's been happening in the Pilbara and north of Queensland so far has been one-off, ad hoc projects,'' Mr. Collishaw said.

"The debate going on right now, in the resource centres and councils, is this is no longer boom-bust style development.

"We're now putting together the infrastructure, the cultural facilities you expect to see in the suburb of a city.''

The project will spark the creation of a new suburb named Mulataga, which will aim to accommodate 8,000 residents.

Chief Executive of Mirvac Western Australia Evan Campbell said the project aims to cure the housing shortage in the Pilbara region, with the availability of housing predicted to drop even further if left untouched.

“Mirvac is very pleased to have the opportunity to partner with the Western Australian Government and Landcorp on what will be one of the most important residential and commercial developments for the Pilbara region,” he said.

“Karratha is experiencing a significant shortage of housing and hotel accommodation as a result of the booming resources sector, with a predicted dwelling shortfall of between 2,000 and 3,000 by 2016.

“We share this vision to create a place where people want to live and visit, as well as work, and look forward to playing an integral role in transforming Karratha into the city of the north.”