Boral signs Scoresby property agreement with Mirvac

Company News

by Rachael Jones

Construction company Boral (ASX:BLD) has entered into a property development management deed with Mirvac (ASX:MGR).

This is in relation to its Scoresby site also known as Wantirna South in Victoria.

Under the agreement, Mirvac will manage the urban development of the 171-hectare site, including a proposed new housing community and new parklands.

Boral expects to receive approximately $66 million of EBITDA through to FY2026, including $3 million in FY2019.

The project is expected to complete in 2035.

Shares in Boral (ASX:BLD) closed 1.12 per cent lower at $5.28 yesterday. 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.