Property developer Lend Lease Group (ASX:LLC) has signed up three major tenants for its controversial Barangaroo development on Sydney's waterfront, according to the Australian Financial Review.
The AFR says Lend Lease has penned a heads of agreement with the tenants for the office component of the development.
The group's head of development David Hutton told the paper Lend Lease will be announcing these tenants over the next months, before construction begins on the first building in 2011.
Mr Hutton also says the group has received expressions of interests that equate to over half of the commercial area.
The AFR says the extensive urban renewal project is expected to be approved by the New South Wales government within the next months.
Lend Lease Group posted a profit of $348 million in the year to 30 June 2010.
LLC Price at posting:
$7.58 Sentiment: None Disclosure: Held
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