Delfin Lend Lease – realestatesource https://www.realestatesource.com.au Commercial and residential property news Sun, 13 Feb 2011 04:00:56 +0000 en-US hourly 1 https://wordpress.org/?v=7.1.3 https://www.realestatesource.com.au/wp-content/uploads/2024/03/rsfav-100x100.png Delfin Lend Lease – realestatesource https://www.realestatesource.com.au 32 32 WA Government Appoints Delfin Lend Lease Preferred Developer For Alkimos Community Development https://www.realestatesource.com.au/wa-government-appoints-delfin-lend-lease-preferred-developer-for-alkimos-community-development/ Thu, 18 Feb 2010 03:56:05 +0000 http://realestatesource.com.au/wordpress/wa-government-appoints-delfin-lend-lease-preferred-developer-for-alkimos-community-development.html THE West Australian government has named Delfin Lend Lease as the preferred developer for the first stage of the 710 hectare Alkimos Community development, 40 kilometres north of Perth.

Alkimos will be Delfin Lend Lease’s first major project in WA, despite establishing in the state two years ago.

Perth based Satterley Property Group and Mirvac were also shortlisted to buy the site, the AFR reports.

]]> Alkimos is expected to house some 50,000 people by 2040, and is in an area described as “one of the few substantial undeveloped metropolitan areas along Perth’s sprawling coastline.”

Lend Lease is also developing the $6 billion Barangaroo project in Sydney. It has also recently seized control of a $1.4 billion shopping centre portfolio, and acquired the Lend Lease Primelife retirement portfolio.

At Alkimos, Lend Lease is expected to initially develop a 224 hectare parcel for urban use by the government’s land agency LandCorp.

Commercial, education and a town centre will also be developed, later. Overall, the project is expected to include about 30 per cent open space.

Upon completion, the project will abut rival developer Peet’s Shorehaven at Alkimos project, blocks of which were released to the market in late 2009.

A copy of the Lend Lease announcement is here:

Lend Lease preferred for Alkimos development

Lend Lease today announced it has been selected by the Western Australian Government as preferred proponent for the first stage of the 710 hectare Alkimos Community development. A Development Agreement between LandCorp and Lend Lease is expected to be finalised within approximately three months.

Alkimos is located in the rapidly growing northwest metropolitan corridor 40 kilometres north of the Perth CBD. Alkimos will be one of the largest coastal developments ever undertaken in Perth.

The total Alkimos community will comprise up to 10,000 dwellings upon completion.
Development of the initial 224 hectare stage is expected to commence in 2011 and will include approximately 2,500 dwellings. The first stage has an expected end development value of over A$400 million and will be delivered over seven years, with the whole 710 hectare community having a circa 20 year project delivery timeframe.

The project will operate under a land management agreement with Lend Lease expecting to make a capital investment of circa A$20 million to establish the project.

The Alkimos community will be developed in partnership between Lend Lease’s subsidiary, Delfin Lend Lease and LandCorp, the Western Australian Government’s land development agency.

Lend Lease Chief Executive Officer and Managing Director, Mr Steve McCann said the company is delighted to have been selected as preferred proponent for this major residential project.

“Lend Lease brings an enviable track record for partnering with governments and landowners to deliver master planned communities that lead the way in community creation,” said Mr McCann.

Mr McCann said the new Alkimos community would set benchmarks in sustainable community development through a range of initiatives including environmentally sensitive design, recycled water use, education partnership models and local job creation initiatives.

]]> Delfin Lend Lease Pays $30 Million For Plumpton Block, Melbourne https://www.realestatesource.com.au/delfin-lend-lease-pays-30-million-for-plumpton-block-melbourne/ Sun, 13 Feb 2011 04:00:56 +0000 http://realestatesource.com.au/wordpress/delfin-lend-lease-pays-30-million-for-plumpton-block-melbourne.html DESPITE fears Melbourne’s $4.3 billion regional rail link might be shelved, Australia’s biggest developers are exploiting last year’s Urban Growth Boundary changes, continuing to quietly snap up farmland in Melbourne’s mid-west.

This time, in Plumpton, Sydney-based Delfin Lend Lease has paid about $30 million for an approximate 63 hectare site on Beattys Road.

The land was included within the revised UGB last year, and was understood to have been sold by Oliver Hume director – special projects, Peter Vassallo, who was unavailable for comment.

Toni Mills, head of Delfin Lend Lease, told The Saturday Age's Capital Gain it planned to undergo a planning and community consultation process to determine the most appropriate vision for the site.
]]> It’s expected the Plumpton land will be rebuilt as a $300 million plus residential village with about 900 compact blocks and a shopping centre.

Late last year, the Melton Shire Council– which controls the Plumpton land – also entered a joint venture with Delfin Lend Lease to redevelop 381 hectares of former farmland into a $1.2 billion suburb Toolern. That development, abutting Melton South, will yield 4500 lots and is expected to accommodate about 14,000 people.

Since the former state government last dramatically expanded Melbourne’s Urban Growth Boundary, The Age has reported major builders quietly snapping up farms with residential redevelopment potential.

The mid-west suburbs affected are loosely defined as within the triangle bound by Deer Park, Werribee and Melton.

But while the wealthy farmers can move out, those (mostly) first home buyers moving in, are increasingly facing road congestion, overcrowded public transport and a lack of local places to work.

The regional rail link project would have added new tracks and train stations to Melbourne’s burgeoning western suburbs – which in turn was expected to generate suburban commercial interest.

Its future is in doubt because of cost blowouts and what has now been revealed as “chaotic planning” by the former Brumby government.

Funding for part of the rail link project was to have come from the federal government. That money is expected to be redirected to Queensland and Victorian flood recovery investment now.

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