Interests associated with private investor Clement Lee paid $5.3 million for a 1,194 square metre development site at the northern tip of the CBD this week. It’s expected Mr Lee will build a residential apartment building on the 204 – 210 A’Beckett Street site.

Receivers appointed to three Petrac projects, Valad’s exposure A$31.1m

Lend Lease Corporation Limited (“Lend Lease”) today announced that Chief Operating Officer, Ross Taylor, will step down from his role and will be leaving the corporation later this year. He will resign from the Board as an Executive Director effective immediately. The Board has also decided that the role of Chief Operating Officer will not be filled pending resolution of the current CEO search process which was announced to the market on 21 August 2008.

Six weeks after reporting a $248million financial-year loss, the Valad Property Group is purchasing a prominent Port Melbourne development site for its fifth development fund.