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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</section>

[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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Leadlease will build a new waterfront residential development in Victoria Harbour named Collins Wharf.
The Victoria Harbour development will extend Collins Street to the water’s edge, and feature more than 25,000sqm of public space, a health and wellbeing centre with public swimming pool and gym, low rise waterfront offices and around 1,500 new residences.
Residences will span five buildings, and feature one, two and three bedroom apartments as well as four level town homes lining Collins Street.It is masterplanned by architects Jackson Clements Burrows (JCB) in collaboration with Aspect Oculus.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/03/10/Yarra%20Walk.jpg" alt="">
Mark Menhinnitt, managing director of Urban Regeneration, Lendlease, said the Collins Wharf development will take advantage of Victoria Harbour’s existing retail and public space, including Library at The Dock, Community Hub at The Dock, Knowledge Market and more than 80 dining and entertainment options – while adding diverse new public spaces,” he said.
“The design of this precinct offers future residents panoramic views and world-class public realm that maximises the unique waterfront location," he said.
"Once complete, a pedestrian and cyclist promenade will enable people to walk, cycle or run all the way around the 2.5kms of the Victoria Harbour waterfront.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/03/10/Eco%20Park%202.jpg" alt="">
“Following our consultation with the local community in 2015 and engagement with authorities over the past 18 months, I’m confident that our Collins Wharf vision will present one of Melbourne’s most desirable locations for residents, visitors and local workers to enjoy.”
 
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j.ballantyne1990-6AQqhLzZaK

New residential neighbourhood to bring Collins Street to the water

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Lendlease is set to push ahead with the final stage of its Victoria Harbour development at Docklands, after receiving Ministerial approval for its Collins Wharf master plan earlier this week.

The primarily residential master plan for Collins Wharf will include an extension of Collins Street down the peninsula to the water’s edge, servicing more than 25,000sqm of public realm. A health and wellbeing centre with public swimming pool and gym, low rise waterfront SOHO's and approximately 1,500 new residences can be expected within the new waterfront neighbourhood.

Jackson Clements Burrows (JCB) in collaboration with Aspect | Oculus have developed the master plan, deliverable over five stages or 8 years. Collins Wharf's unique location along the end of the Victoria Harbour peninsula provides future built form the opportunity for dual waterfront aspects - the Yarra River to the south and Victoria Harbour to the north. 

The master has been designed to respond to the site’s history, built form and vernacular in a contemporary reinterpretation, with maritime-inspired roof forms and brick and timber textures - a reference to the site's industrial past. Additionally, sustainability remains a key driver for the precinct following Victoria Harbour’s recent achievement of a 6-star Green star Communities rating from the Green Building Council of Australia.

The already under construction No. 1 Collins Wharf, designed by Bates Smart, forms part of the existing Victoria Harbour master plan.

<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/victoriaharbour_s060_photomontage_03_final_2000.jpg" rel="gallery-all" title="Victoria Harbour + Collins Wharf approved Master Plan. Image: Lendlease"><img alt="" class="image-article-full-width-580px" height="350" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/victoriaharbour_s060_photomontage_03_final_2000.jpg?itok=d3HbhdfW" title="Victoria Harbour + Collins Wharf approved Master Plan. Image: Lendlease" width="580"></a>

<figcaption>Victoria Harbour + Collins Wharf approved Master Plan. Image: Lendlease</figcaption></figure><blockquote>
The Collins Wharf development will take advantage of Victoria Harbour’s existing retail and public space, including Library at The Dock, Community Hub at The Dock, Knowledge Market and more than 80 dining and entertainment options – while adding diverse new public spaces.

The design of this precinct offers future residents panoramic views and world-class public realm that maximises the unique waterfront location. Once complete, a pedestrian and cyclist promenade will enable people to walk, cycle or run all the way around the 2.5kms of the Victoria Harbour waterfront.

Following our consultation with the local community in 2015 and engagement with authorities over the past 18 months, I’m confident that our Collins Wharf vision will present one of Melbourne’s most desirable locations for residents, visitors and local workers to enjoy.
<cite>Mark Menhinnitt, Managing Director of Urban Regeneration, Lendlease</cite>
</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/victoriaharbour_s010_designstudios_-_final_2000.jpg" rel="gallery-all" title="Collins Wharf is set to provide small scale spaces for creative enterprise. Image: Lendlease"><img alt="" class="image-article-full-width-580px" height="304" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/victoriaharbour_s010_designstudios_-_final_2000.jpg?itok=ybuTDhrd" title="Collins Wharf is set to provide small scale spaces for creative enterprise. Image: Lendlease" width="580"></a>

<figcaption>Collins Wharf is set to provide small scale spaces for creative enterprise. Image: Lendlease</figcaption></figure><h2>KEY FEATURES</h2>

<ul>
<li>Extension of Collins Street as a tree lined boulevard to the water’s edge.</li>
	<li>High quality public open space that will encourage pride of place, support community wellbeing and create opportunities for water engagement.</li>
	<li>Located at the western tip of the Wharf, Eco Park will be an environmental oasis with native grasses, large specimen trees, an innovative floating wetland and access to the water’s edge.</li>
	<li>A diverse range of residences including coveted Collins Street terraces.A state of the art health and wellbeing centre located at the water’s edge.</li>
	<li>Small scale waterfront SOHO commercial / living space, offering a unique opportunity for boutique creative enterprises.</li>
	<li>Reduced car travel through the provision of pedestrian and cycling links and access to existing public transport connections.</li>
	<li>‘Yarra Walk’, a unique promenade experience to Docklands, creating a ‘water on both sides’ pedestrian experience.</li>
	<li>Approximately 1,500 residences over five buildings, with every home featuring high quality apartment layouts to maximise natural light and water views for every home.</li>
	<li>Residences will include a range of one, two and three bedroom apartments as well as the prestigious four level town homes lining Collins Street.</li>
</ul>
 The first Stage, No. 2 Collins Wharf (incorporating approximately 320 apartments), is expected to commence construction in 2018.

<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/yarra_walk.jpg" rel="gallery-all" title="Yarra Walk promenade. Image: Lendlease"><img alt="" class="image-article-full-width-580px" height="377" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/yarra_walk.jpg?itok=BCYyWOwZ" title="Yarra Walk promenade. Image: Lendlease" width="580"></a>

<figcaption>Yarra Walk promenade. Image: Lendlease</figcaption></figure>
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Laurence Dragomir

Lendlease's Collins Wharf Master Plan - the final piece of Victoria Harbour

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Listed property group Lendlease Corporation Limited said half-yearly profit after tax rose 12 percent to $394.8 million from a year earlier, helped by a boost in construction earnings.
Revenue in the six months to December 2016 was up 8 percent to $7,945 million over the comparable period the previous year.
The company said remaining end development pipeline grew 5 percent to $49 billion, of which $35 billion comprised urbanisation projects. It said the development segment “continues to maintain a strong residential pre-sales position, closing the period at $5.7 billion.”
Its EBITDA mix comprised a 38 percent growth in development earnings, while investments generated 40 percent.
<img src="https://www.urban.com.au/images/2017/02/27/FEB27LendleaseEBITDA.png" alt="">
Lendlease Group chief executive and managing director Steve McCann said commercial development, in particular the Australian office sector, was a highlight of the first half result. 
“At Barangaroo South, Tower 1 reached practical completion with all three office towers now operational,” said McCann. 
“We had success in converting our pipeline into delivery with the forward sale of three office buildings, in addition to the creation of a capital solution for the Circular Quay Tower.”
Lendlease said it secured new tenants across the commercial development pipeline. New leasing agreements were secured across approximately 85,000 sqm of commercial space in the period, predominantly in Australia. 
The company declared an interim unfranked dividend of 33 cents per stapled security.
Residential settlements included apartments at Victoria Harbour in Melbourne. Its offshore pipeline includes projects in Singapore, London and the Americas.
<ul>
<li>In Singapore, construction at the Paya Lebar Quarter is progressing well and during the period management secured two anchor tenants for the retail component of the development. The project remains on track for completion in FY19. </li>
<li>In Europe, apartment settlements were achieved at the Glasshouse Gardens at International Quarter London and South Gardens at Elephant and Castle in London. </li>
<li>In the Americas, work has commenced at Riverline in Chicago, Clippership Wharf in Boston and 281 Fifth Avenue in New York. These projects are all in the residential sector, representing a mix of multi-family and condominium product. </li>
</ul>
It said communities settlements were down compared to the prior corresponding period due to project timing.
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jonathanchancellor-7SQnKwU6yx

Lendlease posts double-digit rise in profit on construction boost

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As part of their ongoing development at Victoria Harbour, Lendlease have engaged Techne Architecture and Interior Design to deliver their new Victoria Harbour Sales and Leasing Centre. The completed centre has been designed to help to market and sell Lendlease’s remaining developments in Victoria Harbour, whilst also aiding in the approximately 1,500 apartment settlements expected over the next 18 months.

The sales centre is locate in close proximity to Victoria Harbour’s most recent developments, offering dual frontage to Collins and Bourke streets and proximity to the 888 Collins Street visual light display. Unlike a traditional display suite that presents a 1:1 scale version of a finished apartment, the 300sqm centre envisions the future precinct through a number of interactive and immersive installation zones. 

<blockquote>
We were conscious of the need to articulate the potential experience to the customer, without a tangible product and, in a constantly evolving location. Responsiveness to the precinct’s established blend of technological innovation and public interaction was integral to our design, and ultimately saw us take a more modern approach to marketing property.
<cite>- Justin Northrop, Technē Director</cite>
</blockquote>

Immersive design features are critical elements of the customer experience and include a 20-screen media wall, interactive digital scale model, theatrical ceiling light display, and large-scale Lego model of the Collins Wharf masterplan.

Urban.com.au spoke to Technē Senior Associate, Gabriella Gulacsi about the firm's design thinking and some of the challenges associated with designing a display suite that is adaptable over the course of the next 5-10 years.

<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/techne_vicharbourlr-15.jpg" rel="gallery-all" title="Victoria Harbour Sales and Leasing Centre features a Lego model. Image courtesy Techne"><img alt="" class="image-article-full-width-580px" height="387" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/techne_vicharbourlr-15.jpg?itok=2E0k9aoy" title="Victoria Harbour Sales and Leasing Centre features a Lego model. Image courtesy Techne" width="580"></a>

<figcaption>Victoria Harbour Sales and Leasing Centre features a Lego model. Image courtesy Techne</figcaption></figure>Urban.com.au: What were some of the design drivers for the display suite design?

Gabriella Gulacsi: The design drivers for the display suite design centred primarily on the layering of space, both horizontally and vertically, and the overarching project objectives which called for the use of timeless materials and finishes, an adaptable floorplan and sustainability.

The layering of spaces allows for the defined zones and sales information, and also helps to prioritise the sales tools. A sculptural ceiling installation provides visual interest in the open plan space, and introduces an innovative lighting solution to create ambience within the suite. UM: Were Techne engaged following their previous work with Lend Lease on the Melbourne Quarter residential display suite?

GG: Yes. Due to the success of Melbourne Quarter we were recommended for the Victoria Harbour project.

UM: What were some of the challenges the design team faced?

GG: The site was impressive with high ceilings throughout however the wedge shaped geometry of the site didn’t afford easy spatial organisation - a challenge when articulating a clear sales journey to potential buyers.

We were also conscious of the potential for the space’s large size, strong connection to the street, and visually busy facades to distract from the sales journey. To ensure customers would feel comfortable and could focus on the sales message, the design incorporates ample natural lighting, defined zones throughout the tenancy and a large centralised digital display.

UM: Was adaptability considered for the suite with Victoria Harbour still evolving over the next 5-10 years? How do you design with that in mind?

<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/techne_vicharbourlr-17.jpg" rel="gallery-all" title="The colourful interior. Image courtesy Techne"><img alt="" class="image-article-full-width-580px" height="869" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/techne_vicharbourlr-17.jpg?itok=266DOCAL" title="The colourful interior. Image courtesy Techne" width="580"></a>

<figcaption>The colourful interior. Image courtesy Techne</figcaption></figure>GG: The brief called for a design that would respond to the constantly evolving nature of the precinct. Each area that is adaptable over the five to 10-year life span was designed as a focal point, featuring elements that can be tailored for new developments within the precinct. This flexibility in the design comprises physical and digital displays and, allows for future technological advancements such as virtual reality.

Techne’s experience in workplace design means that future-proofing is inherent in each of our design responses. The ability to draw from our work across sectors provides an informed basis for the design intent of a project.

UM: And lastly, What sort of lifespan has the design suite been designed for?  
  GG: The suite has been designed to appeal to a broad target market for apartments and facilitate the sale of multiple product types over the next five to ten years.
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Technē designs an immersive experience for the Victoria Harbour Sales and Leasing Centre

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Listed property group Lendlease’s first engineered timber office building in Queensland, called 5 King, has been acquired by Impact Investment Group (IIG), in its second commercial building acquisition in the $2.9 billion Brisbane Showgrounds redevelopment.
Standing almost 45 metres, 5 King the nine-storey tower plus ground will be the tallest engineered timber building in Australia and the tallest and largest engineered timber office building by gross floor area in the world.  
It will be the future home of engineering firm Aurecon, with the company committing to lease four of the nine office floors.
It has been designed by architect Bates Smart with engineering provided by Aurecon.
“5 King is the latest example of high-performance workplaces setting new benchmarks in environmentally sustainable building practices,” said Kylie Rampa, Lendlease’s chief executive officer, Property, Australia. 
“The office building will offer tenants the opportunity to generate significant business benefits through large, efficient floorplates that provide flexibility for a variety of modern workplace formats. Its location on King Street provides excellent access to lifestyle amenity and transport options for employees,” she said.
5 King will be built using a building timber called cross laminated timber (CLT) and glulam (glue laminated timber) which has a structural strength akin to the traditionally used concrete and steel. The typical commercial floor plate will comprise 1,588 square metres of net leasable area (NLA), with a total area of 14,921 square metres (NLA) over 10 levels.  
Buildings made from engineered timber have a lower carbon footprint than other building materials: the production process produces zero waste, and timbers are sourced from certified sustainably-managed forests.
According to Neil Barr, Aurecon’s Queensland regional director, the use of timber to lower carbon footprint is a medium that Aurecon has used to good effect.
"Our firm has long seen timber as a viable alternative to steel and concrete and 5 King will showcase the strength of CLT in a ten-storey building."
Lendlease is targeting a 6 Star Green Star Design for 5 King and As Built v1.1 and a NABERS Energy 5 Star rating.  
5 King is due for completion in November 2018, with Lendlease both developing and building the asset. 
It is Lendlease’s fifth engineered timber building in Australia and joins International House Sydney, Forte Apartments and Library at the Dock in Melbourne, and Jordan Springs Community Hub in Western Sydney.
 
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Lendlease sells its tallest engineered timber office building in Australia

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Developer Lendlease is pushing ahead with early site works for their pending Melbourne Quarter development; a massive mixed-use project that will round out the Batman's Hill precinct within Docklands.

Effectively a nexus between Melbourne's CBD and Docklands, Melbourne Quarter will continue the growth of inner city apartments aimed squarely at professionals, young families and empty nesters who are seeking a high-rise lifestyle. With the flood of investment grade apartment projects into the inner city over recent years, there is now a concerted push to create projects that go above and beyond, particularly in terms of amenity.

Lendlease Head of Apartments, Ben Christie, states that Melbourne Quarter has been designed to cater to the demands of astute buyers seeking a lifestyle which includes minimal outdoor and apartment maintenance, inclusive facilities, and communal socialising spaces.

<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/view04_mq_squre_elevated_v2_0.jpg" rel="gallery-all" title="Melbourne Quarter Neighbourhood Park. Image courtesy Lendlease"><img alt="" class="image-article-full-width-580px" height="363" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/view04_mq_squre_elevated_v2_0.jpg?itok=oW3M2lzk" title="Melbourne Quarter Neighbourhood Park. Image courtesy Lendlease" width="580"></a>

<figcaption>Melbourne Quarter Neighbourhood Park. Image courtesy Lendlease</figcaption></figure><blockquote>
Melbourne buyers from all demographics have one of the strongest appetites for high-quality apartments. This is a design conscious city in its fashion, food and coffee, and also Melburnians’ appetite for good architecture is no different. In Melbourne, people expect a comprehensive offering which includes open floor plan layouts for social spaces, ample storage in residences and basements, and health-conscious building amenities.

The biggest selling point for our Melbourne Quarter project is the precinct’s green space and gardens at the base of residences. This gives people the opportunity to live in and be amongst a community that contributes to Melbourne's rich cultural tapestry. Melbourne has traditionally been framed around its parks, and Melbourne Quarter will create a floating Skypark and a new neighbourhood park within the city; a very good thing for residents and the public at large.

<cite>Ben Christie, Head of Apartments, Lendlease</cite>
</blockquote>

Lendlease's Melbourne Quarter development is bordered by Collins and Flinders Streets in Docklands, and upon completion will offer city living, future workplaces, dining, shopping and green spaces. A series of new internal laneways will connect workers, residents and visitors to the traditional Hoddle Grid and to approximately 40 new specialty retailers, including cafes and bars, dining, fashion and lifestyle offerings.

The development's residential towers have been designed by Fender Katsalidis Architects (FKA), who have a long and successful history of residential buildings in Melbourne, including the Republic Tower, Eureka Tower and Australia 108.

Urban.com.au posed a number of questions to Ben Christie and FKA's Karl Fender about the development and the evolution of apartment living in Melbourne.

<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/view_20_mq_resi_1x1_bed_desk_02_crop_option.jpg" rel="gallery-all" title="Melbourne Quarter typical one bedroom apartment. Image courtesy of Lendlease"><img alt="" class="image-article-full-width-580px" height="213" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/view_20_mq_resi_1x1_bed_desk_02_crop_option.jpg?itok=nX2S7XBr" title="Melbourne Quarter typical one bedroom apartment. Image courtesy of Lendlease" width="580"></a>

<figcaption>Melbourne Quarter typical one bedroom apartment. Image courtesy of Lendlease</figcaption></figure>Urban.com.au: Both Lendlease and Fender Katsalidis have extensive experience in apartment developments in Melbourne. How has the market evolved in the last 20 years and by extension the demands of purchasers?

Karl Fender: The transition of Melbourne over the last 25 years from a commercial hub to a thriving multi-faceted metropolis can be attributed to the migration of people from suburban to city living. Large sections of the Melbourne community enjoy, and have come to depend on proximity to workplace, city based rich living options, security, and the convenience of apartment living.

With this increased understanding and focus on the broader benefits of city living, the expectations of apartment design standards with the owners have developed substantially. That community sector now has sophisticated views about their personal living environment. Flexible planning, sizes appropriate to need, provision of ample recreational amenities, quality materials and excellence of architectural design are expected.

People today regard their apartment as far more than simply a good investment. Pride in home, which was underpinned the Australian dream of ownership in the suburbs, is now of paramount importance in the higher density multi-residential realm.

Ben Christie: The great thing about Melbourne’s apartment market is that it offers a variety of city-centric living opportunities that weren’t available 10 years go. Melbourne in general boasts a very high quality of apartment design. Our customers expect a comprehensive apartment offering, which might include open floor plan layouts for social spaces, ample storage in residences and basements, and health-conscious building amenities like a gym or swimming pool.

There is also a growing demand for concierge and hotel-style offerings as time-poor residents use these services to cut down on chores and free up leisure time. Melbourne Quarter will offer such concierge services to enhance the quality of our resident’s living experiences, including services on ground and upper ground lobbies which will use smart technology systems to connect residents in their community.

Many of our customers consider the surroundings of their apartment building too, looking for things like recreational facilities, parks, playgrounds, cafes and community services like child-care facilities and libraries. Our diverse Victoria Harbour community has the highest concentration of Green Star rated buildings in Australia and is located next door to many popular community amenities including Library at The Dock, Buluk Park and the newly-opened Community Hub at the Dock.

UM: How do developments like Melbourne Quarter respond to these demands from a design point of view? What does the architecture say about its locale and the residents within?

KF: Melbourne Quarter is an exemplar of quality environment for its new resident and commercial community. In the broader context of the central business district of Melbourne, its location and provisions will redefine and enrich this strategic entry point of the city. It will certainly be a catalyst for urbane completeness which this currently underutilised corner of the city so desperately requires.

Within the development, public placemaking, rich pedestrian linkages, carparking and servicing strategies have been carefully considered to deliver the best possible outcome. Enticing connections between Collins and Flinders Streets has been achieved through a series of pedestrian experiences, enriched by gardens, recreational and retail opportunities.

The apartments within the residential sector of Melbourne Quarter provide a diverse range of sizes and outlooks, but quality and facility are the common threads. The new resident community can enjoy the privacy of home and counterpointed by the connection of city opportunities at their doorstep. Their living experience is further enriched by their communal facilities which include an elevated 120m pool looking over the northern park, gym, sauna, multi-purpose yoga studio, lounge, library and luxury dining spaces.

UM: How has the history of the site informed the architecture?

KF: The Melbourne Quarter precinct is a very historically significant location in Melbourne and has played a key role in the history of the city’s founding. It is remembered as the site that city father John Batman chose for his family house which he built on Batmans Hill - the site of Melbourne Quarter - in 1836 not long after the beginning of Melbourne’s settlement in 1835.

The precinct also engages with the indigenous heritage of the site and indigenous artists will also play a key role in the placemaking, design and art of the precinct.
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Karl Fender and Ben Christie talk Melbourne Quarter

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With preliminary construction works underway, Lendlease have completed the sale of their first offering within the multi-towered Melbourne Quarter development.

Announced yesterday was the sale of the precinct's first commercial tower to Lendlease-managed affiliate, Australian Prime Property Fund Commercial. The transaction comes at a point of near full tenancy for the commercial tower dubbed One Melbourne Quarter.

Upon completion, initial signatory Arup will also be joined by Lendlease within the 13 level commercial tower, with the latter absorbing four floors across the Denton Corker Marshall-designed, 26,400sqm complex.

Updated project renders accompanying yesterday's announcement also better highlight the tower's activated frontage to Collins Street, perhaps the project's single biggest positive.

<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/img_0471.jpg" rel="gallery-all" title="Melbourne Quarter's onsite works gather momentum"><img alt="" class="image-article-full-width-580px" height="387" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/img_0471.jpg?itok=Y3WtWWqx" title="Melbourne Quarter's onsite works gather momentum" width="580"></a>

<figcaption>Melbourne Quarter's onsite works gather momentum</figcaption></figure><h2>What they say</h2>

<blockquote>
The sale of this building brings the vision of Melbourne Quarter to life and will drive increased momentum for the project. We continue to witness the city shift its commercial centre west along Collins Street, with many leading national and global enterprises already having made the move. It’s a very exciting time for the project.

As we did with our global head office move to Barangaroo in Sydney this year, we will be consolidating our Melbourne offices to bring our Victorian people together at One Melbourne Quarter in 2018.
<cite>Kylie Rampa, Chief Executive Officer for Property, Lendlease</cite>
</blockquote>

<blockquote>
We are delighted to provide our institutional investors access to this exciting integrated precinct, which will offer unique public space, including Melbourne’s first Skypark, and direct access to a variety of transport options.

The investment is consistent with APPF Commercial’s strategy to up-weight into efficient, sustainable and people-centric buildings, and complements the Fund’s recent acquisition of Darling Square and its interests in International Towers One, Two and Three at Barangaroo in Sydney.
<cite>Josh McHutchison, Managing Director of Australian Investment Management, Lendlease</cite>
</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/1mq_hero_shot_75_0.jpg" rel="gallery-all" title="A new Collins Street perspective. Image: Lendlease"><img alt="" class="image-article-full-width-580px" height="687" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/1mq_hero_shot_75_0.jpg?itok=WECrAkWk" title="A new Collins Street perspective. Image: Lendlease" width="580"></a>

<figcaption>A new Collins Street perspective. Image: Lendlease</figcaption></figure>As the last vacant site fronting Collins Street within Batman's Hill, One Melbourne Quarter's frontage has been amped up.

Passers-by will be greeted by a cavernous entry to the precinct, defined by a Sky Park perched above Collins Street. 980sqm of retail space will also bolster Batman's Hill's retail offerings, complimenting the neighbouring Collins Square retail zone.

Melbourne Quarter will also include 106 car parking spaces and extensive cycle facilities while targeting a 6 Star Green Star Design and As Built rating plus a 5 star NABERS energy rating.

One Melbourne Quarter is the first of seven commercial and residential buildings destined for Lendlease's Melbourne Quarter. Future offering within Melbourne Quarter include 681 Collins Street which is at planning and encompasses 55,000sqm of commercial space, and multiple approved residential towers with 1,600 plus apartments in the pipeline.

The total value of the precinct weighs in at $2 billion.
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silvermb

Lendlease steps in on One Melbourne Quarter

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Lendlease's Melbourne Quarter development, located within the Batman's Hill precinct of Melbourne's Docklands is aspiring to be a sustainable new city neighbourhood that will cater for 3,000 future residents in approximately 1,690 dwellings across three towers.

The three residential towers have been designed by Melbourne architectural firm Fender Katsalidis Architects. The first residential building, known as East Tower, will feature a wide variety of one, two and three bedroom apartments and is currently at sales. Located at 628 Flinders Street, the 40-storey development will offer views of the city and bay and will feature hanging gardens climbing the full height of the building.

The precinct has been designed with a strong environmental focus, with more than half of the 2.5 hectare site dedicated to open public spaces including Melbourne’s first elevated Skypark, a neighbourhood park, a new public square and a series of retail laneways which upon completion will connect to the existing CBD.

<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/aerial_view_0.jpg" rel="gallery-all" title="Melbourne Quarter aerial view. Image courtesy of Lendlease"><img alt="" class="image-article-full-width-580px" height="387" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/aerial_view_0.jpg?itok=IoIa2LQB" title="Melbourne Quarter aerial view. Image courtesy of Lendlease" width="580"></a>

<figcaption>Melbourne Quarter aerial view. Image courtesy of Lendlease</figcaption></figure><blockquote>
Melbourne Quarter, with its residential neighbourhood next to a thriving commercial district, offers the opportunity to live next to work, which is increasingly appealing for young professional owner occupiers and investors with a keen eye on the leasing market.
Lendlease prides itself on the high quality of its apartment designs. Melbourne Quarter’s competitively priced apartments will provide a range of one, two and three bedroom city residences, with added value in their design features, location and amenity compared to what our CBD competitors are offering. We are already receiving strong market interest for Melbourne Quarter’s East Tower.
Melbourne Quarter aspires to set leading standards as an environmentally sensitive and sustainable development, that will see all residential towers target a 5-Star Green Star rating.
<cite>Mark Menhinnitt, Managing Director for Urban Regeneration, Lendlease</cite>
</blockquote>

Apartments.com.au recently spoke to Ben Christie, Lendlease's Head of Apartments, about the residential component of the project and how Lendlease are seeking to distinguish their product in an overcrowded market.

Apartments.com.au: Could you outline the smart technologies that are being implemented across the residential towers?

Ben Christie: The ability to connect our residents to the wider community is something we've been looking to introduce and they'll able to do that via an app. It'll be a project specific app that can be accessed via an iPad or iPhone and allow residents to book the extensive communal facilities which that are in the buildings which comprise 'Club MQ'. With 'Club MQ' we're looking at setting a new benchmark with the level of amenity that we're providing and this will be available in the first tower and then the two other towers will share from that.

UM: Is the provision of a concierge/hotel style facilities designed to attract more owner-occupiers rather than investors?

BC: They tend to attract both, in my experience. Certainly we've seen a growing market for time-poor professionals that want to live in the city or close to the city and the services that our concierge will provide, will help those time poor professionals, who live busy lives with the things they need to do. Additionally it will also assist families, which are a growing demographic in apartments who are also time poor, trying to spend extra time with each other so they'll probably use services for ordering food, collecting mail, having laundry picked up and so on.

We think these buildings will attract young professionals and families, with a greater number likely to be young professionals and time-poor executives but it will also be attractive to investors because the concierge service will assist in achieving premium rentals as tenants so our assumption is that it will be attractive to tenants as well, which makes it attractive to investors.

UM: It could be argued that many other more recent residential developments employ a concierge and smart technology. What makes Melbourne Quarter different?

BC: I think what you're touching on there is right and concierge services aren't a new phenomenon. The difference here at Melbourne Quarter is the level of service that we'll be providing and the level of amenity we'll be providing at 'Club MQ' as part of the project. Customers, tenants and purchasers alike are becoming far more discerning and are demanding more of their buildings and more from the services the buildings provide, so our point of difference is that rather than just a standard concierge service we're providing a luxury concierge service in very much a hotel-style offering.

The concierge you might see historically in buildings don't go to the full extent that we feel our customers now seek. The added benefit of the service is that it acts a security service as well: we'll have two full time concierges on-site, 7 days a week.

<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/view04_mq_squre_elevated_v2.jpg" rel="gallery-all" title="Melbourne Quarter neighbourhood square. Image courtesy Lend Lease"><img alt="" class="image-article-full-width-580px" height="363" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/view04_mq_squre_elevated_v2.jpg?itok=MNdNJAQk" title="Melbourne Quarter neighbourhood square. Image courtesy Lend Lease" width="580"></a>

<figcaption>Melbourne Quarter Neighbourhood Park. Image courtesy Lendlease</figcaption></figure>UM: What is the anticipated construction commencement for East Tower? Will the delivery of Melbourne Quarter be staged or will a common podium for the project be delivered in one hit? Is there a nominal completion date for the whole project?

BC: We're starting with Arup's tenancy as we have a commitment there but Lendlease being a mixed-use developer, we have the ability to deliver these buildings simultaneously. We have only recently received planning approval for the residential buildings but we've had a lot of strong activity in our sales process and it's been very encouraging from the market, from both investors and owner occupiers but we haven't finalised a date for the commencement of the residential towers as yet. At this stage we have a conservative completion of 2022 or around 6 years of construction, but we'd like to and are aiming to deliver it faster.

We at Lendlease have significant experience in large-scale urban regeneration projects and so we can deliver commercial, residential and retail infrastructure simultaneously and our staging plan will be such that it will be very customer focused to engage people at the ground plane both within the commercial and residential components. And that is one of the important factors when delivering these types of complex projects. Each neighbourhood could be built independently of one another but they won't be. The team have received a lot of interest from prospective tenants for the commercial buildings and the feedback thus far has been positive.

Laurence, it is interesting when you ask about the decoupling of residential to commercial. Certainly, the residential buildings are focused somewhat to Flinders Street and the commercial buildings are somewhat focused to Collins Street and then we have an extensive laneway with a lot of retail offering which links the two, so they are intertwined.

One of the reasons, I'd like to add is that Melbourne Quarter will be home to 3,000 residents when it's complete and a lot of those residents could easily be people that work at Melbourne Quarter as well. With a lot of our mixed-use projects around the world we find that people like to live near where they work so often we attract young professionals that work at Arup or any other tenant we might secure who also live in one of the residential buildings.

It provides a very efficient lifestyle, it works for the investors, it works for the tenants. Imagine you were working at Arup, you're going home to your apartment in Melbourne Quarter and you can order your dinner when you leave the office and it's there when you get home. There's some great things you could do with our concierge service.

<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/view14_flinders_entrance_lobby_final.jpg" rel="gallery-all" title="Flinders Street entrance lobby. Image courtesy Lend Lease"><img alt="" class="image-article-full-width-580px" height="331" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/view14_flinders_entrance_lobby_final.jpg?itok=vfkDGSRW" title="Flinders Street entrance lobby. Image courtesy Lend Lease" width="580"></a>

<figcaption>Flinders Street entrance lobby. Image courtesy Lendlease</figcaption></figure><h2>Club MQ</h2>

Lendlease has provided Apartments.com.au with a summary of the facilities available to all residents as part of Club MQ, including:

<ul>
<li>Hotel-style grand arrival entrance to Club MQ (off Flinders Street), with undercover drop-off and concierge service.</li>
	<li>Secondary pedestrian lobby to the Club MQ and apartments off the precinct Neighbourhood Park (access via the new laneway connecting Collins and Flinders Streets).</li>
	<li>Swimming Pool (25 metres in length).</li>
	<li>Spa and change room amenity.</li>
	<li>Steam room.</li>
	<li>Sauna facilities.</li>
	<li>All-purpose gym.</li>
	<li>Multipurpose function/yoga room.</li>
	<li>Residents library and lounge.</li>
	<li>Theatrette for 20 people.</li>
	<li>Three internal private dining areas featuring outdoor terraces and BBQ amenity.</li>
	<li>Access to other precinct amenities includes Melbourne Quarter’s Skypark, Melbourne Square, Neighbourhood Park and a diverse retail offering within the Melbourne Quarter precinct.</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/club_mq_gym.jpg" rel="gallery-all" title="Club MQ facilities. Image courtesy Lend Lease"><img alt="" class="image-article-full-width-580px" height="484" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/club_mq_gym.jpg?itok=RquEx_kJ" title="Club MQ facilities. Image courtesy Lend Lease" width="580"></a>

<figcaption>Club MQ facilities. Image courtesy Lendlease</figcaption></figure>While the residential component is at sales and marketing, Lendlease aren't wasting anytime getting on with the rest of the development. Arup's 3-storey office tenancy within the One Melbourne Quarter building is currently under construction, delivering a new sky park above Collins Street with a second 27-storey commercial building at 681-701 Collins Street, recently submitted for planning consideration with an end value of $550 million.

The delivery of the $2 billion Melbourne Quarter project is anticipated to generate approximately 15,000 construction jobs over the life of the project. On completion, its commercial offices are expected to be home to around 10,000 workers.

<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/view_27_skyrooms_from_collins_st.jpg" rel="gallery-all" title="The 27-storey office tower at 681-701 Collins Street. Image courtesy Lendlease"><img alt="" class="image-article-full-width-580px" height="1137" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/view_27_skyrooms_from_collins_st.jpg?itok=PjgOfqLb" title="The 27-storey office tower at 681-701 Collins Street. Image courtesy Lendlease" width="580"></a>

<figcaption>Melbourne Quarter Tower from Collins Street. Image courtesy Lendlease</figcaption></figure>
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Lendlease forges ahead with Melbourne Quarter

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Lendlease secured strong figures for the FY16, showing a profit after tax of $698.2 million.
Group CEO and managing director Steve McCann suggesting that solid cash generation was a highlight.
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“Solid cash generation was a highlight of the result with operating cash flow representing over 120 per cent of Profit after Tax,” he said.
“Lendlease produced a strong result for the 2016 financial year (FY16) and maintained a disciplined and focused approach to delivering on our strategy.
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The development segment delivered a very strong result across both residential and commercial.
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Residential settlements were up 7 per cent to 4,790 units.
“The high level of residential pre-sales provides good future visibility for earnings," McCann said.
“We settled over 1,200 apartments with non-settlements at less than 1 per cent versus our historical average of closer to 3 per cent.
McCann also sited the contribution of the commercial buildings to the strong figures.
“The forward sale of three major commercial buildings, two at International Quarter London and one at Darling Square in Sydney, has further de-risked our development exposure."
The Australian Construction result was robust with EBITDA margins up by more than 1 percentage point to 3.7 per cent.
The Investments segment, representing 37 per cent of operating EBITDA, continues to deliver solid recurring style earnings.
Below is the Lendlease group financial figures
<a href="/images/2016/08/19/Lendlease%20group%20financials.jpg" target="_blank">Click here to enlarge</a>
<img src="/images/2016/08/19/Lendlease%20group%20financials.jpg" alt="" width="366" height="227">
 
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Group CFO Tarun Gupta said the FY16 result ensures that Lendlease enters FY17 in a strong financial position. 
“Generating in excess of $850.0 million in operating cash flow while deploying a further $3.0 billion6 into development of projects is a significant achievement.” 
At 30 June 2016, Lendlease held a cash balance of $1.0 billion and undrawn facilities of $2.2 billion, providing substantial financial flexibility.
Below is Lendlease's financial performance
<a href="/images/2016/08/19/Lendlease%20financial%20overview.jpg" target="_blank">Click here to enlarge</a>
<img src="/images/2016/08/19/Lendlease%20financial%20overview.jpg" alt="" width="319" height="282">
FY16 major highlights
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Profit after Tax of $698.2 million, up 13 per cent and earnings per stapled security of 120.1 cents, up 12 per cent 
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  Return on equity of 13.0 per cent2, up 60 bps 
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  Final distribution of 30.0 cents per stapled security, taking the full year distribution to 60.0 cents per stapled security 
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  Operating cash flow of $853.0 million, 122 per cent of Profit after Tax 
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  Further $3.0 billion deployed into development of projects3 
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  Strong balance sheet with gearing of 6.5 per cent4 and available liquidity of $3.2 billion 
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  Further de-risking Development with the forward sale of three major commercial buildings 
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  Record pre sold residential revenue of $5.9 billion5, up 13 per cent 
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  Establishment of a $400 million managed investment vehicle 
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  Construction backlog revenue of $20.7 billion, up 20 per cent 
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  Funds Under Management (FUM) of $23.6 billion, up 11 per cent 
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Lendlease profits up 13 percent in FY16 - and no sign of rise in apartment settlement defaults

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Lendlease has moved into its new global headquarters in Barangaroo South’s International Towers Sydney.
Around 2,000 employees occupy levels 8 to 19 of Tower Three’s 39 floors, with Lendlease chief executive officer and managing director, Steve McCann said the company’s iconic new headquarters was a significant milestone.
<img src="/images/2016/07/26/thumbnail_160721_Barangaroo%20LL%20Fitout_020_Low.jpg" alt="" width="443" height="296">
“Our new home brings innovative thinking to the challenge of the 21st century workplace. It combines the best of both traditional workplace strategies and new ways of working - connecting people, knowledge and teams to deliver more seamless communication and better results,” he said.
<img src="/images/2016/07/26/_27barangaroo.jpg" alt="" width="631" height="947">
“Our people now have access to a wide range of spaces - whether inside the workplace or enjoying the new Barangaroo precinct at one of the many cafés or special spaces.
<img src="/images/2016/07/26/700_LEase_MD.jpg" alt="">
CEO and managing director, Steve McCann above
Levels 13 and 14 feature a six-metre high wall with over 5,000 plants with employees provided with nutrition options, standing desks and green spaces.
<img src="/images/2016/07/26/thumbnail_160721_Barangaroo%20LL%20Fitout_001_Low.jpg" alt="" width="548" height="366">
Tower Three received a 6 Star Green Star Office Design v3 rating from the Green Building Council of Australia.
 <img src="/images/2016/07/26/thumbnail_160721_Barangaroo%20LL%20Fitout_022_Low.jpg" alt="" width="318" height="476">
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