Mirvac Retail has released its financial performance results for the half year that ended 31 December 2016.
Occupancy rates for the company's retail centres were at 99.7%, keeping in line with the Mirvac's goal of an occupancy rate over 99% for the 2017 financial year.
The company completed development projects across three centres that totalled $100 million, while also completing the acquisition of a 50% interest in East Village, Zetland NSW in July 2016 for $155 million.
Mirvac also introduced a further 37 retailers to its portfolio that were not previously represented in its retail centres.
Total speciality sales productivity increased to $9,662 per square metre, with occupancy costs reduced to 14.6%.
Head of Mirvac Retail Susan McDonald said the company was focused on continuing to strengthen its assets and evolve its portfolio in the coming financial year, highlighting the recent Birkenhead Point development in NSW as an indication of the company's intentions moving forward.
"“The recently commenced Birkenhead Point development is a good example of our approach to repositioning.
"The $19 million development is adding just 125sqm of space, however will result in a significantly improved retail mix and customer experience with the introduction of premium international brands, higher quality finishes, better internal circulation and improved connections to the car park.
“The focus is on the customer journey and experience alongside asset productivity."