Mirvac Property Group has reaffirmed its full-year operating earnings and distribution guidance after a strong third quarter.
Mirvac said its investment portfolio -- which spans the office, retail and industrial sectors -- continued to outperform the IPD index on a three and five year basis, while solid metrics were maintained, with occupancy of 97.4 per cent.
The company continues to expect full-year operating earnings of 12.2c and 12.3c per stapled security. Full-year distribution guidance is seen at between 9.2 and 9.4 cents per stapled security.
Mirvac said its committed office development pipeline remains on track and is substantially pre-leased to high quality tenants, while its retail developments continue to progress in line with expectations
Around 18,000 square metres of leasing activity was achieved across the portfolio during the quarter, Mirvac said.
Chief executive Susan Lloyd-Hurwitz said continued demand for housing, particularly in Sydney and Melbourne, drove an increase in residential pre-sales to $1.6 billion as at 31 March 2015.
"Our overweight position to these markets means we are well-placed to deliver secured future earnings for the group," she said.
“We are pleased with the progress we have made against our full-year objectives and we continue to focus on positioning the business for the future."