Westpac – realestatesource https://www.realestatesource.com.au Commercial and residential property news Fri, 30 Jun 2017 00:30:54 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://www.realestatesource.com.au/wp-content/uploads/2024/03/rsfav-100x100.png Westpac – realestatesource https://www.realestatesource.com.au 32 32 Toxic Material Fears Stop Work at $6 Billion Barangaroo Project Again https://www.realestatesource.com.au/toxic-material-fears-stop-work-at-6-billion-barangaroo-project-again/ Mon, 25 Jun 2012 16:55:29 +0000 http://realestatesource.com.au/wordpress/toxic-material-fears-stop-work-at-6-billion-barangaroo-project-again.html 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.
]]> Two months ago, according to the AFR, about 150 workers left the site after testing showed the area may have been contaminated with asbestos and high levels of lead.

Lend Lease recently announced major office leases to Westpac and KPMG. Lend Lease will also occupy part of the project. All up 119,000 square metres of proposed office space has been leased. Another 50,00 square metres is for lease in a soft market.

Lend Lease is eventually expected to sell both towers, estimated to cost some $700 million to develop.

More information about the Barangaroo project can be found at this link:
http://www.barangaroo.com/

]]> Lend Lease’s APPF Commercial Buys Into $6 Billion Barangaroo Development https://www.realestatesource.com.au/lend-leases-appf-commercial-buys-into-6-billion-barangaroo-development/ Tue, 19 Jun 2012 04:00:34 +0000 http://realestatesource.com.au/wordpress/lend-leases-appf-commercial-buys-into-6-billion-barangaroo-development.html 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.
]]> Canada’s CPP Investment Board has also been reported as investing in the Barangaroo project (50 per cent).

]]> Westpac, KPMG to Release Major Melbourne CBD Office Leasing Requirements https://www.realestatesource.com.au/westpac-kpmg-to-release-major-melbourne-cbd-office-leasing-requirements/ Thu, 30 Sep 2010 04:05:05 +0000 http://realestatesource.com.au/wordpress/westpac-kpmg-to-release-major-melbourne-cbd-office-leasing-requirements.html 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.
]]> KPMG’s lease ends in 2016, according to The Australian. It’s reportedly in the market for between 27,000 and 31,000 square metres.

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