Lend Lease and London Borough of Southwark Agree to Regenerate Elephant and Castle From 2010

Elephant and Castle
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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PWC Considering Leasing Office Space at Barangaroo

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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RACV Calls For New Thoroughfare to Connect Melbourne’s East and West

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 Announces $1 Billion Mixed Use Village at Werribee, west of Melbourne

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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Lend Lease Expecting $120 Million From Sale of Docklands Office

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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Vivas Lend Lease Announces Docklands Next Apartment Tower, Serrata

Serrata interiorDOCKLANDS 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.

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Nine Network to Sell Richmond Studio to Lend Lease For $52 Million

Nine's outgoing Bendigo Street Richmond studioIT may be the end of an era in Richmond, with Sydney-based developer Lend Lease understood to be in advanced negotiations to buy Network Nine’s Bendigo Street studio, for about $52 million.
The Richmond property, home to Nine since 1956, is expected to be redeveloped into a mix of apartment towers with about 600 units.
An office component, and some form of ground floor retail, may also be included in any redevelopment of the three hectare site, but this could not be confirmed with Lend Lease project director Maurice Cococcia, who declined to comment on any part of a deal when contacted by Capital Gain.
Representatives from Nine’s owner, PBL Media, failed to return calls.

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