Lendlease eyes Sydney office for apartments
Lendlease is believed to be back in negotiations for a prominent CBD office permit-ready for a two-tower residential project.
The 3737 square metre irregular shaped holding, 169-183 Liverpool Street, opposite Hyde Park, is speculated to be costing close to $1 billion.
Shimao Group, directed by Hui Wing Mao, is the seller; it paid $392m in 2014.
Six years ago, it obtained a permit to replace the block with two apartment towers, of 37 and 35 storeys, with 289 units and 10,098 sqm of office and retail space.
Also this week, Lendlease won a state government contract to repurpose an office as The Fox: NGV Contemporary Gallery, in Melbourne’s Arts precinct.
End for 35 year old office?
The Sydney property, commonly referred to as 175 Liverpool St, once known as the Remington Centre, contains a 35 year old office penned by Hoffer Reid & Associates, developed by Stockland, with 49,543 sqm over 31 floors and a 200 bay basement car park (story continues below).
The proposal will contain 51,156 sqm – the bulk (40,426 sqm) for residential, the balance, offices (9760 sqm) and retail (970 sqm).
It would also include c273 car parks.
Lendlease was speculated to have withdrawn from negotiations late last year – a more tumultuous time it also shed its offshore construction arms.
Elsewhere in Sydney, Lendlease and Mitsubishi Estate Asia control One Circular Quay.
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