Lend Lease says it will commence development and funding of the third commercial tower at the Barangaroo South development, adding that PricewaterhouseCoopers Australia and HSBC Bank Australia have signed leasing arrangements for the building.
Lend Lease said it intends to introduce co-investors into the tower in future, but for now plans to fund 100 per cent of the building via existing capital sources.
The firm also entered an agreement to reduce its co-investment in Lend Lease International Towers Sydney Trust from 25 per cent to 15 per cent via a sale to international pension fund APG.
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Development of third commercial tower at Barangaroo South to get underway.
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