Transactions - JUNE 29, 2016

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Lend Lease to develop A$300m Australian skyscraper

by Andrea Waitrovich

Lend Lease has been appointed to develop a A$300 million ($223 million) 33-story skyscraper located at 60 Martin Place in Sydney on behalf of the co-owners, Investa and the Gwynvill Group.

Construction of the 430,556-square-foot office building to replace the Westpac tower will begin next month, and it is scheduled to be completed in 2019. The building will include a podium rooftop area with a public restaurant and event space, with balconies facing Martin Place and Macquarie Street. It also includes a five-story glass atrium overlooking St Stephen’s Church.

Currently, Martin Place is under construction, with a total of A$1 billion ($740 million) in projects, from 60 Martin Place to Charter Hall Group’s 333 George St. project, in the process of being redeveloped. Completed projects include 20 Martin Place, 1 Martin Place, 5 Martin Place and the Macquarie Bank building at 50 Martin Place.

The 60 Martin Place tower is competing against skysc

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