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Sat June 22 2024

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Green light for £3.8bn Lend Lease project

8 Aug 11 Lend Lease’s AU$6bn (£3.8bn) Barangaroo development can proceed on schedule following clearance from the New South Wales government in Australia.

Lend Lease had been selected in late 2009 by the Barangaroo Delivery Authority on behalf of the NSW Government as developer for the first stage of Barangaroo in Sydney’s central business district. 

The review has confirmed that planning work for the scheme has been properly undertaken and that Lend Lease followed all required due process including design refinement.

Lend Lease is on programme to start work in coming weeks on the construction of the basement and begin the first commercial tower before the end of the year. Discussions with major tenants and capital partners are under way.

Lend Lease’s group chief executive officer and managing director, Steve McCann, said that review acknowledges the quality of the project and its importance to Sydney, as well as the integrity of the processes Lend Lease has undertaken for Barangaroo South. “We are pleased the review is complete and that it has supported Lend Lease as the selected developer, our Concept Plan approval and commitment to design excellence and sustainability,” he said.

“We welcome comments made today by the NSW Premier Barry O’Farrell that the project has valid planning consent and it is important to proceed with the development and construction of the commercial towers to confirm investor confidence in the project," he said.

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