Toxic Material Fears Stop Work at $6 Billion Barangaroo Project Again

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’s APPF Commercial Buys Into $6 Billion Barangaroo Development

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.

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Westpac, KPMG to Release Major Melbourne CBD Office Leasing Requirements

CORPORATE tenants Westpac and KPMG are expected to announce major Melbourne CBD office leasing requirements.

Bank Westpac is understood to be in the market for between 16,000 and 18,000 square metres of space. It’s currently based at the Dexus owned 360 Collins Street.

Consultancy KPMG is currently at 161 Collins Street, distinguished in the Melbourne CBD as having one of the largest single-level floorplates available.

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