Lend Lease partners with Crown on proposed Barangaroo South hotel

Barangaroo South developer Lend Lease will work with casino operator Crown Limited to develop a concept plan for an international hotel at its $6 billion Sydney harbour urban regeneration project.

Lend Lease announced that it had signed an “exclusive dealing agreement with Crown Limited to develop a “world class international hotel resort”.

The agreement with Crown follows Lend Lease announcing last month that it had received commitments totalling $2 billion from cornerstone investors for the first of two commercial towers at Barangaroo South as well as securing Westpac and KPMG as tenants in these towers.

Lend Lease Group CEO and managing director, Steve McCann says Lend Lease and Crown will now work towards achieving the necessary development approvals from the NSW Government for the hotel and jointly develop the concept plan for the hotel.

Lend Lease is currently in negotiations with the NSW Government to finalise the hotel location.

“Barangaroo South is a major urban regeneration project that provides a unique opportunity to create a world class commercial, residential, entertainment and mixed use destination on Sydney Harbour," says McCann.

“A key part of Lend Lease’s vision for Barangaroo South is to have a high quality international hotel.

“Since being awarded the right to develop Barangaroo South in December 2009, Lend Lease has been approached by a number of leading international hotel operators expressing interest in the hotel.

“We are very pleased to be working exclusively with Crown Limited given their proven expertise in successfully delivering an outstanding hotel product.”

Larry Schlesinger

Larry Schlesinger

Larry Schlesinger was a property writer at Property Observer

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