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Lend Lease Corporation Ltd Signs Agreement For AUD 1 Billion Waterbank Redevelopment in Perth


Tuesday, 5 Feb 2013 05:36pm EST 

Lend Lease Corporation Ltd announced that it has signed the Project Development Agreement (PDA) with the Metropolitan Redevelopment Authority (MRA) for the AUD 1 billion Waterbank urban regeneration project in Perth. The formal signing of this agreement follows Lend Lease’s selection in November 2011 as the preferred developer. Waterbank is a key urban regeneration precinct within the State Government’s Riverside project situated on a six hectare site on the banks of the Swan River. The redevelopment is proposed to include over 600 residential apartments, commercial office space, a hotel, a variety of retail uses and substantial public spaces. With the PDA now in place, Lend Lease will work closely with the MRA in the design and planning for the project ahead of the expected commencement of construction in 2014, with completion expected in 2021.