Lendlease taps interest for $1.8b ‘tallest’ timber tower in Sydney, Australia

By Nick Lenaghan and Hannah Wootton
The Financial Review
June 5, 2024
Category: Wood, Paper & Green Building
Region: International

SYDNEY, Australia — Lendlease has begun pitching a $1.8 billion office development in the Sydney CBD to potential capital partners while undertaking exclusive due diligence on a luxury apartment project in central Melbourne, as it moves quickly to lock in the $4.5 billion turnaround plan unveiled last week. CEO Tony Lombardo and local boss Dale Connor delivered a presentation on development opportunities in Australia to wholesale investors on its funds management platform.  Among the highlights of that presentation is a 55-storey, hybrid timber tower on the corner of Pitt and Hunter Street in central Sydney. If completed, the 50,000-square-metre premium-grade building would lay claim, at 220 metres high, to being the world’s tallest such hybrid tower, easily surpassing both the 180-metre-high Atlassian Tower under construction nearby, and a 191-metre-high apartment building approved in South Perth. The 220-metre hybrid tower plan is based on an off-market heads of agreement Lendlease has struck with the site’s owner, Milligan Group. 

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