LEND Lease is looking to start sales of the residential tower at Sydney's $6 billion Barangaroo South project within the next two years, after securing funding for the project.
Aside from the three office towers, casino and hotel, about 775 to 800 apartments are planned for the site. The apartments could have an asking price of $1 million-plus.
After lengthy talks, the group said that New South Wales government superannuants in First State Super and the Telstra Super fund would be direct financiers of the $2 billion Barangaroo South project.
The two funds are included in the syndicate with the Lend Lease-managed Australian Prime Property Fund Commercial that will take a combined $500 million stake in the construction of the development.
Advertisement The Canada Pension Plan Investment Board will invest $1 billion and Lend Lease will make up the remaining $500 million, funded by internal cash flow, not by shareholders.
Westpac, KPMG and Lend Lease are the confirmed anchor tenants for the first two office towers, at an average rental of $1000 a square metre, with about 20 per cent of the rent as incentives. It is speculated that accounting firm PwC could take out the anchor space for the 3rd tower.
yeh i noticed that the other day. so i guess the top is being finished off.
should look finished mid year,then R2 should be complete in spring,then R3 to be complete by end of year.?
obviously not ready for occupation though maybe until 2024/25.
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