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Property developer Lend Lease Group (ASX:LLC) has been named the preferred bidder for the $1 billion Waterbank site redevelopment in East Perth.
The West Australian government is planning to execute the project over the next decade and is expected to finalise a deal with Lend Lease in the next months.
The Waterbank site redevelopment will span over four-hectares on the banks of the Swan River and include a hotel and commercial, residential, retail and public spaces.
CEO Steve McCann says the large-scale urban redevelopment is in line with the company’s strategic plan to further expand into the rapidly growing West Australian market.
Lend Lease generated a net profit of $493 million in fiscal 2011.
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Last
$5.44 |
Change
-0.010(0.18%) |
Mkt cap ! $3.754B | |||
| Open | High | Low | Value | Volume |
| $5.45 | $5.47 | $5.44 | $5.763M | 1.053M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 17998 | $5.44 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $5.45 | 4414 | 1 |
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| LLC (ASX) Chart |