iCIRT

Mirvac Constructions has become the first business in Australia to be awarded the highest possible 5 Gold Star iCIRT rating by regulated ratings agency Equifax.

The Independent Construction Industry Rating Tool (iCIRT) is designed to aid property buyers by assessing an entity’s capability, capacity and ability to deliver a trustworthy building, with Mirvac the first to achieve the prestigious rating.&nbsp;

The rating tool is one of several pillars of reform introduced in NSW in recent years and is intended to raise building standards and consumer confidence in built form within the state.

Head of Product and Rating Services at Equifax, Brad Walters, said the iCIRT rating has played a pivotal role in rebuilding trust and transparency in the sector following a difficult few years across the construction industry.

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“It is important to recognise those that have and continue to demonstrate a high level of resilience and reliability in the delivery of trustworthy built assets,” Walters said. &nbsp;

Mirvac’s Head of Residential, Stuart Penklis said the 5 Gold Star rating had been earned through five decades of designing and building high quality, well-designed buildings across the commercial and residential sectors.&nbsp;

“We are incredibly proud to be the first, and so far, only, group in Australia to be awarded the highest possible 5 Gold Star rating,” said Penklis.&nbsp;

“Mirvac has consistently delivered a track record of quality development and now our achievement has been endorsed through an independent assessment process. Raising the standard of construction in NSW is critically important to protect purchasers and restore confidence in buying off the plan and newly built apartments.”&nbsp;

Mirvac is currently progressing with a number of residential apartment and master-planned community projects including Nine by Mirvac, Green Square and Langlee in New South Wales.&nbsp;

The group are also developing FORME at their community&nbsp;Tullamore in Melbourne, along with a number of Queensland projects, including Waterfront in Newstead and Charlton House at Ascot Green which is located on the site of the Brisbane Racing Club.&nbsp;

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Mirvac’s first build to rent project in Melbourne, LIV Munro, reached practical completion this month and is set to open next month.&nbsp;

Penklis said Mirvac’s integrated business model in which design, development, construction, marketing and sales are all under one roof, plays a significant role in delivering design excellence and unparalleled quality developments.&nbsp;

“The integration of best in field experts involved in every step of the process, from conception to completion to after sales customer care, is a clear competitive advantage for Mirvac,” Penklis said.&nbsp;

“For the customer, this guarantees absolute confidence that the mark of Mirvac quality is embedded in every little detail on each and every project,” he added. &nbsp;

“Mirvac enjoys a high level of customer loyalty with more than a third of new apartment projects bought by repeat Mirvac purchasers. Trust like that is not manufactured overnight; it is the result of five decades in which we have built some of the nation’s most enduring iconic buildings that have stood the test of time.”&nbsp;

“Equifax is pleased to announce that Mirvac has achieved a 5 Gold Star rating, the highest rating available under iCIRT,” Walters said.&nbsp;

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“Following a detailed, independent and rigorous review, Mirvac were observed to have excelled across each of the six assessment criteria.”

Mirvac General Manager of Design Management and Construction, Jason Vieusseux, said the 5 Gold Star rating is testament to Mirvac’s attention to detail and the pursuit of quality that is applied on every Mirvac project.&nbsp;

“Even in the current climate where there are enormous pressures on construction due to wet weather, constrained supply chains and workforce shortages, we never cut corners,” said Vieusseux.&nbsp;

“That uncompromising approach to construction quality has enabled us to retain and attract the very best construction professionals and work with experienced subcontractors who take pride in their workmanship and the finished products we deliver.&nbsp;

“Within our construction team, which comprises nearly 400 employees across the eastern states, we have decades of experience and knowledge which complements the technology and data driven processes that are now being used by Mirvac Constructions to build with greater precision and achieve higher quality outcomes than ever before.&nbsp;

“The focus on construction quality over the past few years and the efforts of the NSW Building Commissioner have made it more difficult for sub-standard builders to operate. This is going to benefit every property buyer in NSW and lift the reputation of the entire construction sector.”&nbsp;

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Mirvac is the first to achieve the prestigious 5 Gold Star rating following a rigorous assessment process. Main image: Render of FORME at Mirvac's Tullamore community 

alisonwarters@gmail.com

Mirvac awarded first 5 Gold Star iCIRT rating in Australia

Leading Australian property developer, TOGA Group, has been awarded a 4.5 out of 5 Gold Star rating by the new Independent Construction Industry Rating Tool (iCIRT), following a rigorous assessment.

The ratings tool has been launched to rebuild public trust and market transparency in residential 
construction as part of the NSW Government’s Construct NSW Transformation Strategy.&nbsp;

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The award makes TOGA one of only three developers to be awarded a 4.5 Gold star rating and is the highest rating achieved by a developer so far.

While the independent assessment by Equifax is currently voluntary, developers and builders must meet the minimum average of three out of five stars or above to be deemed “trustworthy” and be included on the public register, along with a Gold, Silver or Bronze star indicator.

TOGA’s Managing Director, Allan Vidor said ultimately, the rating is a testament to the group’s dedication to delivering the highest quality outcomes for customers in every aspect of their developments.

“Buyers can be confident, trusting that TOGA has passed the test and has the capital, the experience and the capability to create homes and residential communities that will last,” Vidor said.&nbsp;

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Builders and developers undergo a rigorous review process, with the assessment evaluating them across six specific criteria including character, capability, conduct, capacity, capital and counter parties, in addition to historical results.

“This is a game changer for homebuyers and the industry,” Vidor said.&nbsp;

“A home is one of the most significant investments Australians make, so it’s vital to be able to trust the developers, builders and industry that create these assets. We stand by what we build and deliver at TOGA, and suggest all consumers who are on their property journey to review the iCIRT listing as part of their research.”&nbsp;

TOGA’s strong iCIRT rating was supported by a range of factors, including its tenure and long-history of successful development in Australia, operational and customer transparency, significant repeat and loyal customer base, partner and supplier relationships, and the in-house skills, the level of technical expertise and engineers within the team.

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NSW Building Commissioner, David Chandler OAM, said, iCIRT was introduced to not only set a new standard but to also give property buyers the confidence the builder or developer they’re looking to buy from is a trusted party.&nbsp;

“There’s no denying the reputation of the industry has taken a hit in recent years. The iCIRT rating system was introduced to rebuild trust and acknowledge those in the industry, like TOGA, who are doing the right thing. Congratulations TOGA for setting the benchmark for best practice,” Chandler said.&nbsp;

“As I get to know more of the increasing community of iCIRT rated developers and builders, a common theme is emerging. The first is that customers are at the centre of how they do business,” he said.

“The second is the ingrained integrity that these companies strive to build to underpin how they deliver buildings.”

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iCIRT currently rates builders, developers and certifiers on a voluntary basis. In due course, designers, manufacturers and suppliers will also be able to be rated. Consumers will also be able to rate industry professionals.&nbsp;

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The award makes TOGA one of only three developers to be awarded a 4.5 Gold star rating and is the highest rating achieved by a developer so far.

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