Malaysian developer <a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> is the latest to jump into St Leonards booming Transport Oriented Development precinct.

The developer, which has previously delivered Sapphire by the Gardens apartment development in Melbourne, identified the Atchison Street site in 2023. It filed a Scoping Report around 12 months ago, and now has revealed the designs for the new&nbsp;40-storey mixed-use tower.

The State Significant Development Application covers <a href="https://next-portal.urban.com.au/projects/14650/summary">20-22 Atchison Street</a>, a 1,374 sqm site positioned between St Leonards Station and the new Crows Nest Metro station.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the project would deliver 181 apartments, above a four-storey commercial podium, five basement levels, and new public domain works along Mitchell Street. The apartment mix comprises 35 one-bedroom apartments, 39 one-bedroom-plus-study apartments, 85 two-bedroom apartments, and 22 three-bedroom residences.

The proposal has been lodged as a shop-top housing development under the NSW Government’s TOD planning pathway, which allows increased density around key transport infrastructure. The site sits within the recently rezoned Crows Nest Accelerated TOD Precinct.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b799673d-48e2-46b0-801a-0e33a9330100" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20site.png?VersionId=dPh0UfwfaHpbFL1R7H1cbZNbIW0CHbCC" />

SP Setia acquired the Atchison Street site as part of its continued expansion into the Australian apartment market. In comments made to City &amp; Country (The Edge Malaysia) in 2023, SP Setia President and CEO Datuk Choong Kai Wai described the acquisition as “a strategic move” aligned with the group’s post-pandemic market recovery strategy.

“Our target for this exceptional development is local and overseas buyers, including first-home buyers, downsizers and investors,” Choong said.

The tower has been designed as a slender vertical form rising from a mixed-use podium, with COX Architecture positioning the development as a response to the evolving St Leonards and Crows Nest skyline.

“The purpose of the project is to facilitate the delivery of high-quality housing at a strategically located site and deliver a built tower outcome that is consistent with the desired future character of St Leonards and aligns with the TOD controls,” the design report stated.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b1a85eee-76f7-436c-a6da-73ba827b9b13" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20entry.png?VersionId=dA9jHGPMcm.dDbwk4QfxqWiY5bfh3UVt" />

The podium would incorporate retail uses fronting Atchison Street, commercial tenancies, landscaped communal areas, and pedestrian improvements along Mitchell Street. Vehicle access and loading would be consolidated via Atchison Lane.

Residents would have access to more than 665 sqm of communal indoor and outdoor spaces, while the development proposes 96 parking spaces across five basement levels.

The proposal also includes a commitment for 10 per cent of residential floor space to be allocated toward affordable housing through a monetary contribution.

COX said the tower form responds directly to the emerging high-density character of the precinct while seeking to maximise solar access, cross ventilation, and outlook from apartments.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="2163f85c-f63b-4be3-aafa-f8763976cec5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_5.png?VersionId=WiAmtIKJ6.ZQ41EtYEQ1fol7AeorKBlL" />

“The building is orientated towards north,” the Apartment Design Guide compliance report noted, adding that the tower’s slim form was driven by the constrained inner-urban site dimensions.

The design also incorporates landscaped setbacks and communal open space at podium level, intended to soften the interface with surrounding streets and improve pedestrian amenity.

The project adds to a growing wave of redevelopment proposals reshaping St Leonards and Crows Nest following the opening of the Sydney Metro City line and the NSW Government’s push for higher-density housing around major transport nodes.

Last week Stockland filed plans just down the road. They want to build a <a href="https://www.apartments.com.au/new-apartments/601-pacific-highway-st-leonards-nsw-2065">52-storey tower on Pacific Highway</a>.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">First look: Stockland plans 52-storey, 538-apartment St Leonards tower&nbsp;</a>

Joel Robinson

First look: SP Setia targets St Leonards skyline with 40-storey TOD tower

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has revealed plans for a new mixed-use tower at 10 Dangar Street, Wickham, advancing a proposal that would reshape the southern gateway to Newcastle’s city centre with one of the city’s tallest residential buildings.

The State Significant Development proposal, now on exhibition, seeks approval for a <a href="https://www.apartments.com.au/new-apartments/bowline-10-dangar-street-wickham-nsw-2293">43-storey tower</a> immediately adjacent to the Newcastle Interchange. The project would deliver around 200 apartments, including 42 affordable housing dwellings, alongside 99 co-living units, a 171-room hotel, retail space, and new public domain integrated through the site.

The scheme marks a significant escalation of plans previously approved for the site. Urban Property Group took over the prominent 2,904 sqm parcel, where excavation and demolition had already commenced under an earlier consent for a 14-storey mixed-use development.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="58a96dd9-407f-4d20-86b4-94e4bfeef74b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20podium.png?VersionId=LGlf08pdFGAZDzvx_CXC4XakHNZRuEE0" />

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, the tower has been conceived as a landmark transit-oriented development anchored to the Newcastle Interchange precinct. The proposal includes 245 build-to-sell apartments across a mix of one, two, and three-bedroom residences, as well as two penthouses. Fifteen apartments and one operational unit are earmarked for NDIS housing. The co-living component would add a further 99 units, while the podium would accommodate retail uses and hotel facilities.

SJB said the site presents “a valuable opportunity to anchor the precinct by setting the standard for design, active ground planes and character at the key southern gateway.”

The architecture responds directly to the site’s position beside major transport infrastructure and within one of Newcastle’s fastest-evolving urban renewal precincts. The tower form sits above a sculpted podium designed to frame new public spaces, including a through-site pedestrian link connecting Station Street to Hannell Street, landscaped plazas, and activated retail edges.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="a7bd6ff0-f7db-4ce8-a6dc-ea56e72c6149" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20lanne.png?VersionId=xzf39VADyhj7zBQY2I9fx9vI62u2tuSb" />

The design report describes the project as part of the broader transition of Wickham into “a vibrant, high-quality mixed-use urban precinct” that leverages proximity to the station, open space, and regional connectivity.

A detailed public art strategy has also been prepared for the development. The strategy positions the project as “a transit-oriented development of state significance at the gateway to Newcastle’s city centre” and outlines a series of integrated artworks responding to Newcastle’s industrial and transport heritage.

Creative Road’s curatorial framework for the project, titled Unveil, draws on “stratified surfaces, carved volumes, and light-filled apertures” while referencing Newcastle’s transformation from an industrial city into a contemporary education and technology hub.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="77a882bb-14b1-4d28-99ff-9438e39508c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20site.png?VersionId=cevgo_vN0eKPK78P8YcEu3mKPLkpFqE7" />

The proposal is being advanced through the NSW Housing Delivery Authority pathway after being declared State Significant Development in June 2025. The accompanying scoping report states the development aims to “maximise the site’s proximity to the Newcastle Interchange by delivering transit-oriented development” while increasing housing supply and affordable housing provision within the Newcastle LGA.

Urban Property Group’s plans align with the long-term strategic vision established under the Wickham Master Plan, which identified the interchange precinct as suitable for substantial uplift in height and density. The current proposal would significantly intensify that vision, positioning the tower among the tallest developments proposed for Newcastle.

The site sits immediately north of the Newcastle Interchange, bounded by Dangar Street, Hannell Street, and Charles Street. It is surrounded by a rapidly growing cluster of residential towers and mixed-use projects that have emerged following the completion of the light rail and transport interchange.

First look: Urban Property Group unveils Newcastle’s latest tower at Wickham interchange

Bottega House has completed settlement of a landmark riverfront site in Macquarie Street, St Lucia, representing its first major Brisbane development.&nbsp;

Positioned on the banks of the Brisbane River, the <a href="https://www.apartments.com.au/new-apartments/180-macquarie-street-st-lucia-qld-4067">premium site at 180 Macquarie Street</a> features uninterrupted river frontage in one of Brisbane’s most tightly held residential precincts.&nbsp;

The proposed development, currently under assessment with Brisbane City Council, has been designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and will deliver a boutique collection of premium residences positioned specifically for owner occupiers and downsizers.&nbsp;

The residences are set to redefine luxury apartment living in the area, with a focus on architectural quality, refined finishes, landscape integration and elevated amenities including curated wellness facilities, resort-style pools and recreation spaces rarely seen in the local market.&nbsp;

Exclusive sales for the project will be led by Keenan &amp; Byrne, ahead of an anticipated launch later this year.&nbsp;

Bottega House Managing Director Nick Malloch said the project reflects the group’s ambition to deliver a highly curated residential offering within one of Brisbane’s most tightly held precincts.&nbsp;

“This is an incredibly rare riverfront opportunity and one we have approached with a long-term perspective,” Malloch said.&nbsp;

“Our vision from the outset was to create a boutique collection of residences that feel more like private homes than traditional apartments, with generous proportions, refined finishes and exceptional amenity throughout."

Malloch says there is a&nbsp;lack of premium owner-occupier stock of this quality in the market, particularly for downsizers wanting space, privacy and a true lifestyle offering without compromise.&nbsp;

"Demand is expected to be strong given the scarcity of premium riverfront opportunities of this nature within Brisbane’s inner-west."&nbsp;

Bottega House secures landmark riverfront site in St Lucia 

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The arrival of the first piling rig officially marks the commencement of construction at SIERA’s new beachside apartment development, Exhale, in Northcliffe.

<a href="https://www.apartments.com.au/new-apartments/exhale-surfers-paradise-8-enderley-avenue-surfers-paradise-qld-4217">Exhale</a>, a glass-encased tower featuring 54 large-scale apartments at 8 Enderley Avenue, is SIERA’s third Gold Coast development. It follows the recently completed PIPIS Bilinga beachfront project, which achieved suburb-record prices, and the soon-to-be-completed Chevron Island development, Tapestry.

[smartcode_project:default project_id=112661 project_image_fid=359603]

<a href="https://www.apartments.com.au/developers/siera">SIERA</a> Founder and Managing Director Brent Thompson said the arrival of the piling rig represented a significant milestone for the development, which is scheduled for completion in late 2028.

Over the next month, around 260 piles are expected to be installed as work progresses on the basement structure. The building is anticipated to rise above ground level early next year, before unveiling its sculptural glass curtain wall, developed in collaboration with specialist façade engineers.

“The façade was designed to maximise panoramic coastal views while creating a distinctive architectural identity,” Thompson said.

[smartcode_project:default project_id=112661 project_image_fid=355935]

Designed by BDA Architecture, Exhale will comprise just 54 two- and three-bedroom residences across 26 levels, a level of low-density living rarely delivered in this beachside pocket between Surfers Paradise and Broadbeach.

The project has been conceived as a resident-only building, with no short-stay accommodation permitted. SIERA says the model is intended to appeal to long-term owner-occupiers rather than transient holiday demand.

[smartcode_project:default project_id=112661 project_image_fid=361052]

Residences have been designed with large-format layouts and expansive glazing, with most apartments featuring more than 30 metres of glass frontage to maximise natural light and ocean views.

The amenity offering spans two levels and centres on wellness and lifestyle, including a heated magnesium pool, sauna, yoga and Pilates studio, gymnasium, private dining facilities, cinema lounge, and dedicated surfcraft storage.

[smartcode_project:default project_id=112661 project_image_fid=359607]

More than half of the apartments have already sold. SIERA has also opened a sales gallery for Exhale at its Chevron Island commercial premises, near its Tapestry tower and the site of its second Chevron Island apartment development, which is slated to launch in early 2027.
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[smartcode_project_cta:default project_id=112661]

SIERA kicks off construction at Northcliffe tower Exhale

Local Little Bay residents, along with buyers from premium postcodes across Sydney’s affluent Eastern Suburbs, have dominated purchases in developer-builder Urban Property Group’s first Eastern Suburbs apartment development, <a href="https://www.apartments.com.au/new-apartments/este-little-bay-jennifer-street-little-bay-nsw-2036">ESTE Little Bay</a>.

The $250 million coastal project, one of the first new developments in the area in several years, has proven particularly popular with downsizers, especially those from Coogee and Bondi. One Double Bay downsizer paid $4.7 million for a four-bedroom penthouse, setting a new local apartment price record in the process.

Buyers have been attracted to the combination of coastal tranquillity, premium design and amenity-rich neighbourhood living. The walkable village setting, along with proximity to three of Sydney’s leading golf courses, New South Wales Golf Club, St Michael’s Golf Club and The Coast Golf Club, has also been a key drawcard.

[smartcode_project:default project_id=112343 project_image_fid=352689]

Built across two low-rise buildings designed by <a href="https://www.apartments.com.au/architects/hill-thalis-architecture-urban-projects-pty-ltd">Hill Thalis</a> and set along a lush, landscaped green spine, designed by leading landscape architect <a href="https://www.apartments.com.au/landscape-architect/arcadia-landscape-architecture">Arcadia</a>, ESTE Little Bay offers a collection of one, two, three and four-bedroom residences with interiors by Richards Stanisich.

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> Sales Director, Tom McIvor said the response to ESTE has been "nothing short of extraordinary."

“Buyers have been quick to recognise ESTE as a rare opportunity to invest in a coastal sanctuary that offers both seclusion and connectivity to the heart of Sydney,” McIvor said.

[smartcode_project:default project_id=112343 project_image_fid=352687]

<a href="https://www.apartments.com.au/project-marketer/srm-residential">SRM Residential</a> Senior Director, <a href="https://www.apartments.com.au/project-marketer/srm-residential">Clayton Ross</a> said the local market has responded incredibly well, driven by ESTE’s exceptional location and the rarity it offers.

“We’ve seen strong interest from a variety of buyer groups, all of whom are drawn to the exclusivity and quality of the build and construction by the 4.5-star iCIRT-rated builder / developer, Urban Property Group. There’s truly nothing else like it along Sydney’s coastline.”

[smartcode_project:default project_id=112343 project_image_fid=352690]

The project also includes robust buyer protections, including Resilience Insurance’s Latent Defects Insurance, providing 10 years of structural cover, and an independent iCIRT-rating of the developer.

“The iCIRT-rating adds another layer of confidence,” Ross added. “Buyers see it as a safeguard for their investment and their lifestyle.” A highlight of ESTE’s offering is its exclusive wellness amenities, including a heated rooftop infinity pool and outdoor heated spa, a state-of-the-art Technogym fitness centre, and a sauna.

<a href="https://www.apartments.com.au/new-apartments/este-little-bay-jennifer-street-little-bay-nsw-2036">ESTE Little Bay</a> is topped out and is on track to complete towards the end of 2026, with residents moving in before Christmas.

[smartcode_project_cta:default project_id=112343]

Eastern Suburbs buyers snap up ESTE Little Bay apartments

Lendlease

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Melbourne Quarter luxury sky homes are continuing to receive steady buyer interest, with buyers purchasing 90% of properties released to the market within the first sales phase.

The impressive sales statistics could indicate an equally strong demand for human-centric design in today’s built environment.

Biophilic design is the creation of living spaces which enhance the quality of wellbeing of the building’s occupants. Wellness is often better facilitated through the integration of nature, having sensitivity to the requirements of residents/workers and an environmentally conscious approach to design.

Developer Lendlease has dedicated more than half of the Melbourne Quarter mixed-use precinct to green open space, with a vast majority available to be enjoyed by the public – including an elevated Sky Park, the first of its kind to be available for public use.

The goal was to blur the lines between built form and nature, which has been masterfully achieved by the talented landscape design team at Aspect Oculus.

Aspect Oculus have thoughtfully curated multiple green spaces, with stand-out features including:

<ul>
<li>Verdant green open spaces for public use</li>
	<li>Integrated nature within each building’s façade using trellis to create vertical planting</li>
	<li>All 40 storeys also feature large planter boxes, allowing residents to plant gardens</li>
</ul>
<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/melbourne-quarter-628-flinders-street-docklands-69f3c8c4ee0e466260de5c19455cab3c.jpg" rel="gallery-all" title="Arial view of Melbourne Quarter featuring a prominent sky garden"><img alt="" class="image-article-full-width-580px" height="326" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/melbourne-quarter-628-flinders-street-docklands-69f3c8c4ee0e466260de5c19455cab3c.jpg?itok=XzKDrMs2" title="Arial view of Melbourne Quarter featuring a prominent sky garden" width="580"></a>

<figcaption>Arial view of Melbourne Quarter featuring a prominent sky garden</figcaption></figure><h2>Melbourne Quarter apartments</h2>

Currently on offer is a range of one, two and three-bedroom contemporary homes, which feature a timeless, minimalist design and spacious living areas.

Residents will love the floor-to-ceiling joinery, with expansive views of the CBD and beyond, as well as the world-class on-site amenity.

Residents will be able to use Melbourne Quarter’s resort-style swimming pool, gymnasium, library, cinema, and more at the three-level luxury lifestyle centre, Club MQ.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/melbourne-quarter-628-flinders-street-docklands-4664177c52acdede07fa0b567887c4ba.jpg" rel="gallery-all" title="Melbourne Quarter resort style swimming pool"><img alt="" class="image-article-full-width-580px" height="326" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/melbourne-quarter-628-flinders-street-docklands-4664177c52acdede07fa0b567887c4ba.jpg?itok=zMyK8j04" title="Melbourne Quarter resort style swimming pool" width="580"></a>

<figcaption>Melbourne Quarter resort-style swimming pool</figcaption></figure><h2>Location selling points</h2>

Across the road from Southern Cross station and bordering Collins and Flinders Streets, Melbourne Quarter is excellent for those looking for walkable convenience.

With an outstanding walk score of 99 per cent and a transit score of 100 per cent, the development’s near-perfect rating is a considerable value-add. Also, its appointment among a thriving hub of progressive development could be another indication of a sound investment.

<h2>Deals available to buyers</h2>

Despite the competitive nature of this development, Lendlease has chosen to further entice buyers with a range of added financial benefits.

These include:

<ul>
<li>100% interest on deposit</li>
	<li>Local stamp duty + legal fee rebates</li>
	<li>Blinds packages</li>
</ul>
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Olivia Round

Apartments now 90% sold: Biophilic design a key contributor to Melbourne Quarter's sales success

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Lendlease Engineering, together with its joint venture partner CPB Contractors, has secured the $644 million contract to undertake the major bulk earthworks package at Western Sydney International (Nancy-Bird Walton) Airport.
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This extensive package of works includes delivery of the detailed design and construction of earthworks and drainage for the new airport, as well as topographical design for the entire airport precinct.
It is one of Australia’s largest ever bulk earthworks infrastructure projects to be awarded outside of the mining sector.
Dale Connor, the CEO of Lendlease building and engineering, said up to 500 people are expected to work on the important stage.
"Lendlease has a long history of participating in the development of Western Sydney and we look forward to delivering this next stage of the Western Sydney International project”, Connor said.
“As Western Sydney’s future aerotropolis, the work on Western Sydney International will be a major contributor to the economic and social development of the region.
"This project gives Lendlease the ability to provide further skills, training and employment opportunities across Western Sydney."
The airport is being developed in stages by the Federal Government-owned Western Sydney Airport in response to passenger demand.
Stage 1 will see a single runway airport constructed with capacity for up to 10 million passengers a year.
The first package of works, also undertaken by Lendlease and CPB Constractors, began in September 2018.
The new bulk earthworks package will commence early next year and is scheduled to be completed in 2022.
 
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j.ballantyne1990-6AQqhLzZaK

Lendlease win contract for Badgerys Creek airport earthmoving 

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In Lendlease's end of financial year report they disclosed that their engineering division was the leading cause of the 41% dip in after tax profit in FY19.
The firm said earnings before interest, tax, depreciation and amortisation dropped 30 per cent to $1.25 billion last year.
Alongside that dip, after tax earnings fell from $793 million to just $467 million.
EBITDA earnings in its construction and investment arms declined by roughly one-third for the year to June.
“It was a difficult year for the Group with the provision taken in the first half for underperforming engineering projects impacting the overall result," Lendlease chief executive Steve McCann said.
He pointed the finger at the ongoing separation process. Lendlease is trying to sell the engineering and services business.
Lendlease declared a final dividend of 30¢, down from 35¢ a year earlier.
Despite these seemingly troubled waters, Lendlease shares spiked 8.35% to $14.67 just a few hours after the ASX announcement.
According to the report EBITDA earnings on their Development arm of the business rose 18% to $793.
They cited strong apartment settlements at its Darling Square project in Sydney and the office precinct at Paya Lebar Quarter project in Singapore. They also praised their strong pipeline .
"Three major urbanisation projects were added to the pipeline during the year in Sydney, Chicago and Milan. Post balance date we secured an urbanisation project in the San Francisco Bay Area. These four projects have a combined development end value of approximately $27 billion," LendLease said.
In a spot of good news for Lendlease the Berejiklian government has ceded to Crown Resorts and Lendlease settling a long-running legal battle with them over views from their high-rise developments at Barangaroo.
Crown and Lendlease took the case to the NSW Supreme Court to retain "sight lines" from their developments at Barangaroo South to the Sydney Opera House and Harbour Bridge.
In December the court found the government had not negotiated in good faith with the two companies about its plans to develop Central Barangaroo.
Crown Resorts said in a statement that the parties had reached an confidential out-of-court settlement and an appeal would not go ahead, meaning the case is officially settled in Lendlease's favour. 
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Lendlease profit down 41% but wins Barangaroo views  case

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A major Japanese company is reported to be considering a takeover of the $7.21 billion real estate and construction group Lendlease.
The Australian reported it was a takeover target, with shares rising in early trade this morning by almost nine percent to $13.97.
The shares fell back to $13.55 after the company responded at 11am with "Lend Lease notes speculation in today's The Australian regarding potential corporate activity."
"Lend Lease confirms it has not received any such approach."
According to the report, a major Japanese company, suspected to be Mitsui, was believed to be plotting an acquisition of the company.
The Japanese company is rumoured to be interested in acquiring the company and then breaking it up and offloading different parts to other suitors.
Last month Lend Lease was dubbed an "underperforming large cap property stock" by JP Morgan which flagged them as potential takeover targets.
Lendlease was hit hard on a profit warning late last year due to issues with its engineering business.
The property and construction group is currently trying to sell its engineering arm.
Lend Lease faces a shareholder class action lawsuit relating to its shock profit downgrade but JP Morgan doesn’t think this will be much of a deterrent to potential suitors.
Lendlease share price is trading lower than its 52-week high of $21.73.
 
 
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Japanese takeover looms for real estate group Lendlease

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The City of Melbourne via its Future Melbourne Committee last night resolved to provide support for an amended design to Lendlease's Melbourne Quarter Tower in Docklands.

Replacing an earlier endorsed scheme for a 27-storey office building of 92,086 sqm (GFA), the revised design would instead rise 32-storeys above Wurundjeri Way for an overall height of 147.15m and a GFA of 101,998sqm, thus making it Docklands' tallest building.

Height and GFA aside, the form of the tower has also changed with Woods Bagot adopting a 'curved' sweeping form that is concave in plan to the west and a concave to the east. This replaces DCM's more rectilinear scheme which also included a protruding volume at its summit, known as the 'Sky Room'.

Internally the new scheme also features four x three-storey terraces above level 21, where the low-rise lift banks drop-off, though City of Melbourne believes these could be better expressed externally to aid in reducing the visual mass of the tower further.

<blockquote>
"Noting the visibility of the form particularly from across the Fairfax building, we encourage the more direct expression of the terrace and common areas where the low rise lift drops off above Level 21. The expression of 
these spaces in the elevation would greatly enhance the presentation of this long elevation through creating ‘moments’ of interest centrally within the façade, with depth, shadow play and vegetation visible. A shift to a legible winter garden or louvred glazing approach would be strongly encouraged."

- City of Melbourne's Urban Design team
</blockquote>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/mqt_0.jpg" rel="gallery-all" title="A reimagined Melbourne Quarter Tower. Image: Woods Bagot"><img alt="" class="image-article-full-width-580px" height="884" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/mqt_0.jpg?itok=512liRq0" title="A reimagined Melbourne Quarter Tower. Image: Woods Bagot" width="580"></a>

<figcaption>A re-imagined Melbourne Quarter Tower. Image: Woods Bagot</figcaption></figure>The City of Melbourne's Urban Design team was otherwise supportive of the design changes highlighting the curvilinear form as adding to the diversity of the architecture in the area.  According to the Urban Design Team, the introduction of fins to add shade and depth and an ordering grid was also a welcome addition however, encouraged further development of this.

Meanwhile, work continues on another Woods Bagot-designed commercial tower in the precinct - the 25-storey Two Melbourne Quarter, with the first of the facade panels installed.

Two Melbourne Quarter joins Fender Katsalidis' East Tower which is shooting up to its eventual height of 143m and 41-storeys.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/redden_2mq.jpg" rel="gallery-all" title="L-R: Two Melbourne Quarter | East Tower. Images: redden"><img alt="" class="image-article-full-width-580px" height="216" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/styles/article_full_width_580px/public/pictures/article-images/redden_2mq.jpg?itok=3D2McpxK" title="L-R: Two Melbourne Quarter | East Tower. Images: redden" width="580"></a>

<figcaption>L-R: Two Melbourne Quarter | East Tower. Images: redden</figcaption></figure>Lendlease has already completed One Melbourne Quarter and stage 1 of the SkyPark, with the second stage to be delivered as part of Melbourne Quarter Tower.

With City of Melbourne's support in hand, the final planning hurdle to overcome remains Planning Minister Richard Wynne, although this would appear to be a mere formality.

It is expected Lendlease will look to secure an anchor tenant or significant pre-commitment for Melbourne Quarter Tower prior to commencing construction.
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Laurence Dragomir

City of Melbourne provides support for revised Melbourne Quarter Tower

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Investors, represented by Maurice Blackburn, are taking class action against construction giant Lendlease over its share tumble last November following a surprise $350 million write-down on its engineering business that includes the major Sydney road project.
The NorthConnex project is expected to be delivered six months after schedule, due for completion in 2020.
Investors who bought Lendlease shares between February 21 and November 8 can participate in the claim.
The delayed NorthConnex project in Sydney caused its share price plunge caused after revealing it was behind schedule on the multibillion-dollar road development.
Maurice Blackburn will today begin taking registrations for the legal proceedings against the global developer.
The law firm alleges Lendlease broke the Corporations Act by failing to properly inform its shareholders about serious issues in its engineering and services arm and by engaging in misleading and deceptive conduct.
Lendlease saw its shares tumble on the day of the write-down announcement to $14.25 after closing strongly on November 8 at $17.45.
The share fall wiped billions from the company's market capitalisation over a period of five trading days, The Sydney Morning Herald reported.
 
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Lendlease face class action after share price collapse

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Salta's 695-699 LaTrobe Street development is a step closer to being realised following the City of Melbourne providing conditional support for the project via its Future Committee meeting last night. The 29-storey development would rise to an overall height of 94.5m and provide an entry and gateway statement into the precinct.

Located on the corner of LaTrobe Street and Harbour Esplanade, the Fender Katsalidis-designed tower would add 197 hotel rooms under the Hotel Indigo brand in addition to 26 serviced apartments and 276 apartments on one of the last undeveloped plots of land around Marvel Stadium

When it first unveiled the latest design for the site two years ago, Salta announced that it would develop the tower under the 'build-to-rent' model, which would have been a first in Victoria.

Grocon's <a href="/news/bates-smarts-julian-anderson-discusses-build-to-rent">Home Southbank</a> will instead claim that title with the site already cleared in preparation for construction of a 60-storey tower, designed by Bates Smart.

<blockquote>
“Once developed, instead of selling the residential aspects of the building we will retain the 260 apartments and offer them as long-term multi-family leases – a tried and proven concept in overseas markets that will be new for Victorians. Prices in the Melbourne rental market are also increasing at alarming rates, so we are exploring a concept to respond to this situation and provide Victorians with a different housing option."

- Sam Tarascio, Salta Properties Managing Director (May 2017)
</blockquote>

City of Melbourne's Urban Design team cited the lack of a typical podium articulation and the loss of three expressed volumes along the waterfront elevation as its key concerns, features the earlier endorsed scheme displayed.

In response Fender Katsalidis have introduced vertical 'breaks' between the fluid, wave forms in addition to vertical timber fins to the lower levels to provide some articulation of a 'base' and gradation detail to the public realm. 

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/699-latrobe_before_after.jpg" rel="gallery-all" title="695 LaTrobe Street Before and After. Images: FKA"><img alt="" class="image-article-full-width-580px" height="195" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/699-latrobe_before_after.jpg?itok=3ElzNV3_" title="695 LaTrobe Street Before and After. Images: FKA" width="580"></a>

<figcaption>695 LaTrobe Street Before and After. Images: FKA</figcaption></figure>City of Melbourne's endorsement of 695 LaTrobe Street represents the next wave of Docklands projects and comes hot off the heels of Council also providing conditional support for the next two stages of Lendlease's Collins Wharf development at Victoria Harbour.

The dual tower development of 27 &amp; 28-storeys respectively, will inject 659 dwellings into the precinct and will extend the Docklands skyline ever closer to the Bolte Bridge. The City of Melbourne planners had asked architects Warren and Mahoney to revisit the facade strategy for CW3 to better distinguish the two towers, reflected in the planning elevation below;

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/collins_wharf_23_elevation.jpg" rel="gallery-all" title="No.2 &amp; No.3 Collins Wharf elevation. Planning Image: Warren and Mahoney"><img alt="" class="image-article-full-width-580px" height="353" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/collins_wharf_23_elevation.jpg?itok=DnTkpu3S" title="No.2 &amp; No.3 Collins Wharf elevation. Planning Image: Warren and Mahoney" width="580"></a>

<figcaption>No.2 &amp; No.3 Collins Wharf elevation. Planning Image: Warren and Mahoney</figcaption></figure>The final say on both developments rests with Planning Minister Richard Wynne's department.
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City of Melbourne provides conditional support for Salta's Docklands project

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Lendlease saw its half yearly profits drop 96.3% to $15.7 million when it released its financials to the ASX this morning.
Its share price went in a similar direction, dropping nearly ¢60 a share.
When the markets opened shares dropped from $14.14 per share to $13.50. The share price has rebounded somewhat late morning to $13.88 per share.
Revenue for the six months to December 31 dipped 11 percent to $7.68 billion, with the $350 million hit cutting profit from $425.7 million a year earlier.
The decline in profits was in majority down to its engineering arm. 
Steve McCann, chief executive and managing director at Lendlease, reiterated his disappointment with the previously announced underperformance of the company's engineering business.
“This was a difficult period where cumulative issues in a number of engineering projects materially impacted the Group’s overall result," McCann said.
"The management team and I are very disappointed with this underperformance and are committed to working to restore securityholder value and confidence in Lendlease.
A review of Engineering and Services has determined the business is non-core, and is no longer a required part of the Lendlease's strategy.
Alternatives for the business are being considered, however restructuring the overall business could cost between $450 million and $550 million before tax, Lendlease said.
McCann said despite a challenging period, LendLease's development pipeline is still growing.
"Despite a challenging period, Lendlease continued to convert origination opportunities in global gateway cities – growing our development pipeline and successfully executing key initiatives with our capital partners,” McCann said.
“We’re starting to see tangible results from broadening our urbanisation platform to additional international gateway cities with the first significant contributions in the half from our projects in Asia and the Americas. 
Lendlease added two new major urbanisation projects to its pipeline – Victoria Cross in Sydney, and Lakeshore East in Chicago. 
The two projects combined have an estimated end development value of more than $3 billion.
 
<div class="story-content">
 
</div>
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jrobinson-rf4aSBido9

Lendlease half year financials see profits drop 96%

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Australian global insurer QBE will join anchor tenant ANZ in Victoria Harbour’s latest commercial building at 839 Collins Street.

QBE will occupy around 6,000sqm across three floors and will move approximately 400 employees from 628 Bourke Street by mid-2019. ANZ has already leased 26,500 sqm of the building.

Designed by award winning architect Denton Corker Marshall, the building’s floorplate designs give clients the flexibility to scale their workplace operations up or down without the need to lease extra space.

All tenants have access to a north-facing outdoor garden and terrace with a multi-purpose sports court, event spaces and BBQ facilities, helping to extend the workplace outdoors.

A vibrant mix of retailers will open at 839 Collins Street throughout the year. This includes the lobby’s restaurant and café, The Other Brother, operated by Melbourne hospitality venture Continental Hospitality Group.

The building, featuring a low-energy underfloor air conditioning system that also improves indoor air quality, is on track to achieve a 6 Star Green Star Design and As Built rating from the Green Building Council of Australia. The Victoria Harbour precinct has already achieved a 6 Star Green Star Communities rating.

The 39,000sqm building is now close to being fully leased and will reach practical completion in March this year.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/839_render_terrace.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="392" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/839_render_terrace.jpg?itok=7LVR9ndT" width="580"></a></figure><blockquote>
 839 Collins Street is a great example of Lendlease developing next generation workplaces where the focus is on innovation and the end customer.

 The Victoria Harbour precinct now has one of the highest concentrations of Green Star rated buildings in Australia and is home to some of the nation’s most recognisable brands. The arrival of large commercial tenants like QBE and ANZ continues to transform the area into a key mixed-use precinct.

- John Burton, Lendlease’s Managing Director, Urban Regeneration
</blockquote>
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Lendlease welcomes QBE to Victoria Harbour

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Developer Lendlease has announced that it has secured International Workplace Group’s (IWG) co-working brand, Spaces at its Melbourne Quarter precinct within Melbourne's Docklands urban regeneration project.

Spaces will occupy approximately 7,000 sqm of space across two buildings comprising, one floor within the recently completed One Melbourne Quarter, and upon completion, more than 4,000 sqm across two floors at Two Melbourne Quarter, currently under construction.

As part of their tenancies, Spaces will also utilise the business lounge facilities in each building’s lobby providing extensions of their workplace with members also having access to the precinct’s wi-fi enabled Sky Park.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/mq_towers.jpg" rel="gallery-all" title="Spaces will be occupying 7000sqm across two buildings at Lendlease's Melbourne Quarter. Images: Lendlease"><img alt="" class="image-article-full-width-580px" height="404" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/mq_towers.jpg?itok=bkdniqqz" title="Spaces will be occupying 7000sqm across two buildings at Lendlease's Melbourne Quarter. Images: Lendlease" width="580"></a>

<figcaption>Spaces will be occupying 7000sqm across two buildings at Lendlease's Melbourne Quarter. Images: Lendlease</figcaption></figure>Overall, Spaces will provide 700 flexible workstations when it moves into One Melbourne Quarter in May and Two Melbourne Quarter once it is complete in mid-2020. Space will join future Melbourne Quarter tenants AMP and EnergyAustralia,and Arup and Lendlease, who have already taken occupation of their respective workspaces within One Melbourne Quarter.

According to Spaces, its model allows customers to pay only for the space they need, scaling operations up or down to boost employee productivity in their choice of work environments.

Meanwhile, construction is continuing in earnest at Melbourne Quarter with Two Melbourne Quarter's floorplates and core now well above street level and the first panels of facade now installed on East Tower. 

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/tmq_construction_progress.jpg" rel="gallery-all" title="Construction progress at Melbourne Quarter. Images: Urban forum member redden"><img alt="" class="image-article-full-width-580px" height="216" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/tmq_construction_progress.jpg?itok=4xDRYuIh" title="Construction progress at Melbourne Quarter. Images: Urban forum member redden" width="580"></a>

<figcaption>Construction progress at Melbourne Quarter. Images: Urban forum member redden</figcaption></figure><h2>What they say...</h2>

<blockquote>
Spaces’ presence at Melbourne Quarter will provide businesses with more adaptable and dynamic places to work. Lendlease is designing precincts with flexible workspaces that provide transport connectivity, outdoor green spaces and retail amenity in one location.

Spaces will introduce a broad range of organisations to Melbourne Quarter, presenting an exciting proposition for the precinct’s existing workforce and retailers.

- John Burton, Lendlease’s Managing Director, Urban Regeneration
</blockquote>

 

<blockquote>
There is a workspace revolution underway in Australia and businesses of all sizes are waking up to the strategic and financial benefits that flexible office space can provide.

This will be the fourth Spaces co-working centre located in Victoria and we are extremely excited to be located in the new Melbourne Quarter Precinct. This year, the growth of flexible working is predicted to rise across Australia, as more office-based activity is demanding greater choice and flexibility in the workplace, for businesses, organisations and their employees.

- Damien Sheehan, Head of IWG, Spaces parent company in Australia &amp; New Zealand
</blockquote>

 

 
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