Commercial and residential property news
LEND Lease and a consortium known as Exemplar Health have been appointed to build a $2 billion tertiary hospital at Kawana in the Sunshine Coast in Queensland.
The Sunshine Coast University Hospital (artist impression, right) will include 738 beds with the first stage due for completion in late 2016.
A statement released by Lend Lease this afternoon is copied below:
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A SECOND work stoppage in three months has plagued the much hyped development of Lend Lease Group’s $6 billion Barangaroo project, on a waterfront piece of the Sydney CBD.
Crumbled asbestos, believed to have been disturbed by trucks or other heavy vehicles accessing the site, are believed to have caused the concern this time. About 40 staff downed tools due to fear about toxic materials.
The Construction, Forestry, Mining and Energy Union (CFMEU) will meet today (June 26) to determine whether it was safe to resume work.
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LEND Lease has secured the $315 million contract to widen the M5 West Motorway in Sydney.
It will design and construct the upgrade which include interlink roads. Two lanes will be extended to three in each direction from Camden Valley Way, Prestons to King Georges Road, Beverly Hills.
Lend Lease’s construction business, Abigroup, has been working on the proposal since February 2010. Completion of the project is expected in December 2014.
Lend Lease announced the contract to the ASX this afternoon (June 26):
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LEND Lease has been unveiled the preferred “proponent for construction work” for the Adelaide Oval redevelopment.
The Adelaide Oval Stadium Management Authority with the Department of Transport, Energy and Infrastructure selected Lend Lease and its subsidiary, Baulderstone to design and construct a new stadium with a 50,000 person capacity (image of proposal, right).
A copy of Lend Lease’s announcement is below:
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LEND Lease arm Abigroup has won a major government contract.
Details of a media statement released today is below:
Abigroup has won a national Defence contract to prepare RAAF airbases around Australia to receive the air force’s next generation of fighter jets.
Read moreLEND LEASE has today upped the price it offered per security, as part of its attempt to acquire all of Lend Lease Primelife, from 31 cents to 35 cents.
Below is a copy of today’s Lend Lease announcement:
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LEND Lease’s “institutional flagship fund” APPF Commercial has reportedly acquired a small interest within the first two skyscrapers that will form part of the $6 billion Barangaroo project on Sydney Harbour.
It is speculated APPF’s stake is as little as between 7 and 12.5 per cent, which would exclude it from any decision making power on the project. Lend Lease and APPF Commercial declined to comment on the speculation reported by the AFR.
It’s understood major office tenants including Westpac and KPMG are to be announced as tenants in the two towers.
Read moreLend Lease Corporation Limited (”Lend Lease”) today announced that its UK public private partnerships (“PPP”) business, Catalyst Lend Lease, has achieved financial close with Birmingham City Council on the first phase of the Building Schools for the Future (“BSF”) project worth £180 million (A$353 million).
The Birmingham BSF project is part of a UK Government initiative to provide a new generation of sustainable secondary schools throughout England, and will be delivered via a 15-year public private partnership agreement. The project involves the transformation of many secondary schools and other related community facilities across Birmingham that will accommodate over 150,000 students.
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THE second stage of the $1.4 billion Queensland Children’s Hospital – worth some $900 million – has been won by Abigroup, part of Lend Lease’s national infrastructure business.
The project aims to deliver 359 hospital beds, and is due for completion in early 2004.
A Lend Lease statement about the contract is copied below.
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LEND Lease has announced a $100 million contract to deisgn pricing, delivery and commissioning of the first Pacific National coal rolling stock maintenance facility near Nebo in Queensland.
The move will help Lend Lease expand infrastructure operations into Central Queensland.
Below is a Lend Lease statement about the deal:
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A MAJOR residential development site in Yanchep, a precinct of Perth once known as a weekend getaway destination, has hit the market for the second time in three years.
The 10,000 square metre block, divided into four titles, were purchased by boutique Perth developer Match for $13.2 million at the peak of Perth’s real estate market in 2007.
Colliers International’s head of department project residential, land marketing and tourism, Nick DiLello said the site may achieve that price again, now the market has recovered somewhat from the downturn.
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PERTH’s largest coastal development for more than 50 years has been launched in the Alkimos Eglinton area.
Peet Ltd has unveiled its $1.3 billion Alkimos development, about 40 kilometres north of the CBD. The land mooted for the development abuts another major block which the West Australian government is seeking to develop with a partner.
Combined, about 953 hectares of Perth’s famous coastline will be affected. LandCorp, Delfin Lend Lease, Mirvac and a consortium including Perth based developer Satterley Property Group, are reportedly shortlisted on the government tender to build more housing.
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TWO of Australia’s biggest property players, Westfield Group and Lend Lease (which controls the Australian Prime Property Fund), are planning to sell the Cairns Central shopping centre they own together.
The complex was at the centre of a legal dispute that Westfield and Lend Lease eventually took to court.
It includes about 180 stores including major tenants Myer, Target, Coles, Bi-Lo (which like Coles is part of the Wesfarmers Group) and a Birch, Carroll and Coyle cinema.
LEND LEASE today announced a $122.5 million contract to expand and refurbish the University of New South Wales Wallace Wurth building.
The 10,000 square metre expansion is due for completion in March 2014.
Lend Lease released a statement about the contract, copied below.
Read moreLEND Lease Real Estate Investments has paid a reported $27 million for a major property on Boundary Road, Richlands. The
Read moreTHE Brisbane City Council will lease 8,000 square metres of office space at the Transit Centre.
The council will fill Telstra space which has sat vacant for six months, and is contributing to the Brisbane CBD’s high office vacancy rate of 10.9 per cent.
Owners GPT Group and the Lend Lease managed Australian Prime Property Fund recently upgraded the 30,000 square metre office from B grade, to A grade quality.
Read moreSYDNEY-based developer Lend Lease has announced a new CEO for its American arm.
Lend Lease Australia CEO and managing director Steve McCann announced Robert McNamara’s appointment in a statement today (copied below).
Mr McNamara will report to Mr McCann, and be responsible for divisions including: Development, Project Management and Construction, Public-Private Partnerships (PPPs) and Investment Management.
He takes the help on April 19, 2010.
Read moreLEND LEASE has announced the appointment of a new director of operations, Scott Charlton.
Details of the appointment are in the Lend Lease statement copied below:
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THE Yarra City Council has approved the $400 million redevelopment of Channel Nine’s long-time Bendigo Street studios, in Melbourne’s inner east.
SYDNEY based developer Lend Lease today agreed with the London Borough of Southwark (council) to renew the current exclusivity arrangement to regenerate the Heygate Estate and Elephant & Castle shopping centre.
The £1.5 billion (A$2.7 billion) project will now commence with building demolition in February 2010.
Below is a joint announcement from Southwark Council and Lend Lease, released today:
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THE Sydney CBD’s new Mid City Retail Arcade has secured Virgin Active as a major tenant.
Virgin will lease 4500 square metres over two floors at the 420 George Road complex, due to open in September.
In keeping with industry standards of having two members per square metre, the gym will be limited to about 9000 members.
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PRICEWATERHOUSECoopers – which recently went against the grain by leasing an office building just out of the Melbourne CBD as its headquarters – may be looking to do the same in Sydney.
The professional services group is reportedly considering leasing an office building at the Barangaroo project.
Lend Lease will develop the $6 billion project, which is expected to have about 350,000 square metres of offices, with towers permitted to rise as high as 213 metres.
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AS PLANNERS continue to approve major new housing estates in Melbourne’s (until-recently-forgotten) western suburbs, a powerful state motoring body has called on the new state government to build a new major road thoroughfare, for what will be an imminent surge in car traffic.
The RACV forecasts 20,000 extra car trips will be travelled based on residential development at one new western suburb proposal alone, recently announced by Lend Lease (refer link below).
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LEND Lease has launched a new $1 billion mixed use village at Werribee, in Melbourne’s middle-western suburbs.
The 438 hectare site will make way for 4000 homes, four schools and a new neighbourhood shopping centre. The first blocks will hit the market in mid 2012, and the project is expected to take ten years to complete.
The price Lend Lease paid for the land has not yet been reported. Below is an announcement by the Sydney-based developer and fund manager.
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PROPERTY giant Lend Lease is expecting about $120 million from the sale of an as-yet-incomplete office in Melbourne’s Docklands – a near new city, effectively, on disused industrial land abutting the western edge of the CBD.
The 17,000 square metre office recently secured engineering firm Aurecon as an anchor tenant for 9500 square metres. Aurecom was formerly known as Connell Wagner
The building is due for completion in the second half of 2012.
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DOCKLANDS next major apartment tower is set to take shape at 815 Bourke Street.
Vivas Lend Lease this month announced plans to develop Serrata, a 15-level, 144-unit complex, between Victoria Harbour and the Yarra River.
A Vivas Lend Lease representative says the development provides an opportunity for Generation Y “first home buyers” with a desire for city living to get into the market.
Read moreExpressions of Interest closed last week for the Coburg Initiative, a partnership between the council and an as-yet-unknown developer, to add more than 1500 homes and 65,000 square metres of commercial and retail floor space to Coburg.
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