LLC lendlease group
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  1. FNN News
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    01/05/14
    09:32
    Post #: 13308949
    .


    Lend Lease Group’s (ASX:LLC) massive Barangaroo hotel and casino development in Sydney has hit another milestone. The property developer has been given the go-ahead to construct the final and tallest office tower at Barangaroo South as part of the $6 billion project.  

     


    New South Wales Premier Mike Baird declared the project on track as the company announced new leasing arrangements for the soon to be built Tower 1 building. 


     


    HSBC and PricewaterhouseCoopers (PwC) have inked leases for the Tower 1 building while Westpac Banking Corporation (ASX:WBC), KPMG and Lend Lease are among those committed to Towers 2 and 3. 


     


    Lend Lease will now start the development with plans to fund all of the building and introduce co-investors into Tower 1 in the future.


     


    Shares in Lend Lease firmed 0.86 per cent following the news yesterday to close at $12.95. 


     


    Lend Lease Group reported a net profit of $252 million in the first half of the 2014 financial year. 

    LLC Price at posting: $12.95 Sentiment: None Disclosure: Held
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