Lendlease and Google in box seat for White Bay Power Station site

Lendlease and Google in box seat for White Bay Power Station site
Lendlease and Google in box seat for White Bay Power Station site

The NSW government's White Bay Power Station redevelopment in Sydney's inner-west has attracted 13 proposals.

The size of the offering, and decision to offer it substantially in one line, meant few bidders have any real prospect of securing the site.

Lendlease, who have teamed with Google, head the list after the first round of the sale closed last week.

Mirvac, which last year won the $1 billion Australian Technology Park development against stiff competition, also submitted a proposal.

And the Australian Financial Review noted a university consortium, headed by UTS and the UNSW, has maintained its interest.

The chief executive of UrbanGrowth NSW, David Pitchford, even dismissed the suggestion that a deal had been already struck with Lendlease and Google.

"We have 13 proposals from all over the world and the standard is very high," he said, although not bidding included Stockland, Brookfield and Grocon and international heavyweights like the China-based Aqualand, Dalian Wanda and Greenland.

UrbanGrowth is managing the process with sales assistance from Knight Frank.

The site has potential for mixed-use development, but involves serious expenses in remediation, transport infrastructure and restoration.

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of our authors. Jonathan has been writing about property since the early 1980s and is editor-at-large of Property Observer.

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Industrial Listing Power Station

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