Meriton

Last updated

Meriton
Industry Construction and serviced apartments
Founded1963
Founder Harry Triguboff
Products Apartments
Owner Harry Triguboff
Website Meriton.com.au

Meriton is an Australian property developer and construction company [1] established in 1963. Meriton builds and sells apartments, and also operates serviced apartments as temporary and long-term accommodation under its Meriton Suites brand in Sydney, Brisbane and the Gold Coast.

Contents

In 2007, it was estimated the company was building about 1,200 apartments each year. [2] By 2010 this figure had increased to 2,000 units. [3] It is estimated that over the past 50 years, Meriton has built more than 65,000 residential apartments on the east coast of Australia. It also offers serviced accommodation in 17 locations.

On 13 November 2013, Meriton celebrated its 50th anniversary with a party on Sydney Harbour for more than 300 current and former employees, friends, family and dignitaries from the political and business world.

2014 was a record year for the apartment developer, with the company's annual turnover rising more than 50 per cent to $2 billion, bringing it to 11th place in IBISWorld's 2014 Top 500 Companies, up from 29th spot the previous year. [4] The HIA-Colorbond steel Housing 100 named Meriton as Australia's largest residential home builder, up more than 5000 housing starts, from 2573 in FY2013-14 to 7929. Based on this figure, new homes by Meriton accounted for around 10 per cent of all multi-unit dwellings commenced in Australia, and 29.5 per cent of all multi-unit dwellings commenced in New South Wales. Meriton projects equated to approximately 0.05 per cent of Australia's GDP. [5]

Meriton has about 15,000 apartments in its development pipeline. In recent years, Meriton has shifted focus to providing retail, recreational and childcare facilities alongside residential and serviced apartments.

In July 2018, Meriton was fined $3 million for manipulating TripAdvisor reviews. [6]

In January of 2022, the company was the victim of a data breach that is believed to have been orchestrated by cybercriminals. Staff and guests were contacted to notify them know that their personal information may have been accessed during the leak. It was believed that almost 2000 people were affected by the breach and were contacted by the company. [7]

History

Meriton had its start after a young Harry Triguboff built his first home in Roseville, Sydney, in 1960. Allegedly, the contractor Triguboff hired let him down, so he decided to complete the job himself and, as a result, he developed a taste for construction. A few years later, in 1963, he decided to take on an eight-block apartment project in Tempe with just three workers. The units sold for $9,750 each, and the car space was an extra $500.

In 1969, he completed a development of 18 apartments on Meriton Street, Gladesville, which gave rise to the company name.

Triguboff, or 'High-Rise Harry', as he became known, is claimed to have built his fortune by tapping into a perceived need for affordable apartments, particularly in the rush of post-war migrants from countries where inner-city apartment living was commonplace.

After floating Meriton on the Australian Securities Exchange in 1969, Triguboff bought back all the company's shares in 1973. Meriton has since remained a private company, shielded from the vicissitudes of the global financial markets.

A downturn in the property market in the 1970s saw Meriton withdraw some of its apartments for sale, and rent them out instead. Residential leasing now forms an important aspect of its business. The other arms of Meriton include strata property management and property financing.

In 1984, Meriton expanded interstate to Queensland, with a focus on Brisbane and the Gold Coast.

Properties

Infinity Tower in Brisbane Infinity Tower, Brisbane, seen from across the river, August 2017, 02.jpg
Infinity Tower in Brisbane

World Tower in Sydney, opened by Prime Minister John Howard, was completed in 2004 and is Sydney's tallest residential building. [8]

The Soleil site in Adelaide Street was the company's first project in Brisbane. The initial design was rejected by the Brisbane City Council because of design and potential traffic issues. [9] The revised design later won an International Property Award for the Best Residential High-Rise Development in Australia. [10]

Infinity Tower on Herschel Street, Brisbane, was completed in 2014 and was Brisbane's tallest building from 2014 to 2016. [11]

Meriton Retail Precincts

Meriton has a total of 7 shopping centres known as Meriton Retail Precinct. The majority of the precincts have Woolworths and Coles supermarkets as anchor tenants. [12] [13] [14]

List of shopping centres

New South Wales

  • Bondi Junction
  • Dee Why
  • George Street (Sydney CBD)
  • Mascot Central
  • Parramatta (known as Dining Precinct)
  • Waterloo

Queensland

  • Sundale

Awards

The company has received a number of awards.

See also

Related Research Articles

<span class="mw-page-title-main">Apartment</span> Self-contained housing unit occupying part of a building

An apartment, flat, or unit is a self-contained housing unit that occupies part of a building, generally on a single storey. There are many names for these overall buildings. The housing tenure of apartments also varies considerably, from large-scale public housing, to owner occupancy within what is legally a condominium or leasehold, to tenants renting from a private landlord.

<span class="mw-page-title-main">King Street Wharf</span> Wharf in Sydney, Australia

King Street Wharf is a mixed-use tourism, commercial, residential, retail and maritime development on the eastern shore of Darling Harbour, an inlet of Sydney Harbour, Australia. Located on the western side of the city's central business district, the complex served as a maritime industrial area in the early and mid 20th century. It was redeveloped as part of extensive urban renewal projects around Sydney Harbour in the 1980s and 90s. The complex is host to a cluster of nine wharves, with the first two wharves currently in use by private ferry operator Captain Cook Cruises and a third decommissioned by Sydney Ferries.

<span class="mw-page-title-main">Harry Triguboff</span> Australian property developer and founder of Meriton (born 1933)

Harry Oskar Triguboff is a Chinese-born Australian billionaire real estate developer, and one of Australia's richest people. He is the founder and managing director of Meriton and is known as "high-rise Harry".

<span class="mw-page-title-main">Chevron Renaissance</span> Residential, Commercial & Retail in Surfers Paradise, Queensland

Chevron Renaissance is a $400 million development on the Gold Coast, Queensland, Australia comprising 713 individually owned residential lots located above the Chevron Renaissance Shopping Centre. The onsite management of Chevron Renaissance residential lots is managed by Accor under the brand name of Mantra Towers of Chevron, previously The Towers of Chevron Renaissance.

Caruso, formerly Caruso Affiliated Holdings, LLC, is one of the largest privately held real estate companies in the United States. It was founded by Rick Caruso in 1987, with Corinne Verdery as its CEO since 2022. Caruso has a portfolio of retail and mixed-use properties in Southern California, including ones in Los Angeles, Glendale, Calabasas, Pacific Palisades, Marina Del Rey, Encino and Thousand Oaks.

<span class="mw-page-title-main">Soleil (Brisbane)</span> Luxury residential skyscraper located at 495 Adelaide Street, Brisbane, Australia

Soleil Meriton is a luxurious residential skyscraper located at 495 Adelaide Street, in Brisbane, Australia, Queensland's capital city. Construction began in early 2009, with the building officially ready in 2011. At 243 metres (797 ft), it was Brisbane's tallest building until 2013 when Infinity Tower overtook it.

<span class="mw-page-title-main">Infinity Tower (Brisbane)</span> Skyscraper in Brisbane, Australia

The Infinity Tower is a 249-metre (817 ft) skyscraper by Meriton completed in 2014 at 43 Herschel Street Brisbane, Australia. It was the tallest building in Brisbane until it was surpassed by 1 William Street in 2016.

Wood Marsh Architecture, styled Wood | Marsh Architecture, is a Melbourne-based Australian architectural practice founded by Roger Wood and Randal Marsh in 1983.

<span class="mw-page-title-main">Coca-Cola Place</span> Commercial office tower in North Sydney, Australia

Coca-Cola Place, originally known as The Ark, is a 21 level commercial office building located at 16-40 Mount St in North Sydney, Australia. It is jointly owned by Investa Property Group and Investa Commercial Property Fund and was designed by Rice Daubney. Major tenants include Coca-Cola Europacific Partners Gartner, McAfee and ARN Media.

Crown Group Holdings is a property group that deals with the development and investment of properties in Australia. It was co-founded in 1996 by Paul Sathio and Iwan Sunito. The group is headquartered at Sydney, Australia and has branches in Indonesia.

Laura Harding is an Australian architectural practitioner and critic. Harding works across architecture and urban design, with a particular focus on the public realm. She is also an architectural critic and an active participant in the public culture of architecture. Harding regularly contributes to architectural education as a visiting critic at the University of New South Wales and the University of Sydney. From 2006 to 2012, she taught with Glenn Murcutt in the third year design program at the University of New South Wales.

<span class="mw-page-title-main">One Central Park</span> Shopping mall in New South Wales, Australia

One Central Park is a mixed-use dual high-rise building located in the Sydney suburb of Chippendale in New South Wales, Australia. Developed as a joint venture between Frasers Property and Sekisui House, it was constructed by Besix Watpac as the first stage of the Central Park urban renewal project.

<span class="mw-page-title-main">Crescent Heights (company)</span> American real estate company

Crescent Heights, Inc, is an American real estate development company based in Miami, Florida, with offices in Chicago, New York, Los Angeles and San Francisco.

<span class="mw-page-title-main">James Treble</span> Australian interior designer (born 1969)

James Treble is an Australian builder and interior designer. He hosts the TV show Renovate Or Rebuild on Nine Network. He was a presenter on Open Homes Australia on 9Life. Treble is publicly known for his six-hour live co-hosting on Your Money. He co-hosted for seven seasons, from 2012 until 2019, as a design expert on a Network Ten lifestyle program, The Living Room. He has been an ambassador for Planet Ark since 2015.

<span class="mw-page-title-main">WaHu Student Apartments</span> Apartment building in Minneapolis, Minnesota

WaHu Student Apartments is a luxury residential apartment building located in Minneapolis, Minnesota. It was first announced in 2012 with intent to cater to the campus population of the nearby University of Minnesota. The complex comprises 327 residential units within three apartment towers. It also contains designated retail space, currently leased by tenants such as Bank of America, Blaze Pizza, and local restaurants.

<span class="mw-page-title-main">Opal Tower (Sydney)</span> High-rise residential tower in Sydney

Opal Tower is a residential tower located in the suburb of Sydney Olympic Park in the Australian state of New South Wales. It was completed in August 2018. The high-rise residential tower was built by Icon, developed by Ecove and designed by Bates Smart Architects. The building has 392 apartments, with 34 above ground levels and three levels underground.

Lighthouse is a mixed-use development in the suburb of Dee Why in the Northern Beaches region of Sydney.

Pacific Bondi Beach is an indoor/outdoor shopping centre in the suburb of Bondi Beach in the Eastern Suburbs of Sydney, Australia.

Landcom is a New South Wales Government–owned statutory corporation that is responsible for the delivery of new housing to meet the needs of people in the Australian state of NSW.

References

  1. Chancellor, Jonathan (25 September 2014). "Harry Triguboff's Meriton tops HIA-Colorbond Housing 100 builders list". www.propertyobserver.com.au.
  2. Turi Condon (16 May 2007). "Meriton plans 70 storeys in Brisbane". The Australian. News Limited. Retrieved 26 September 2013.
  3. Turi Condon (8 April 2010). "Harry Triguboff's Meriton to build units on Seven Network site". The Australian. News Limited. Retrieved 26 September 2013.
  4. Business review The Australian[ dead link ]
  5. "NSW's Meriton Apartments Leads the Way for Australia's Housing 100 in 2013/14". 24 September 2014. Archived from the original on 19 January 2019. Retrieved 23 April 2024.
  6. "Meriton fined $3m for manipulating TripAdvisor hotel reviews". the Guardian. Reuters and Australian Associated Press. 31 July 2018. Retrieved 1 August 2018.
  7. Biggs, Tim (29 March 2023). "Private financial, health information exposed in Meriton data breach". The Age . Retrieved 29 March 2023.
  8. World Tower [usurped] . Emporis. Retrieved 2 October 2013.
  9. Fiona Cameron (8 May 2008). "Council rejects Meriton tower". The Australian. News Limited. Retrieved 26 September 2013.
  10. 1 2 Asia Pacific 2013 Award Winners. International Property Awards. Retrieved 2 October 2013.
  11. Trotman, Nicola (12 September 2013). "A sight for sore eyes: The top developments of the past year". www.propertyobserver.com.au.
  12. "Meriton unveils Mascot Central retail precinct – Shopping Centre News". www.shoppingcentrenews.com.au. June 2016. Retrieved 8 March 2020.
  13. "Meriton's retail play – Shopping Centre News". www.shoppingcentrenews.com.au. Retrieved 8 March 2020.
  14. "Retail Precincts". Meriton. Retrieved 8 March 2020.
  15. Award Winners 2013. Urban Taskforce Australia. Retrieved 2 October 2013.