Lendlease Annual Report 2024
18 Lendlease Annual Report 2024 Development Through our development capability, we create quality assets for our investment partners, as well as delivering improved liveability, amenity and wellbeing for the people that live, work and play in our projects. Urban regeneration Our urban regeneration capability, including placemaking, sets us apart and presents a unique opportunity to generate lasting and positive value for a city and its communities through the way people connect, work and live. During the year, this was showcased in the projects we completed including residential apartments, workplaces and retail. Residential We completed several projects, including build to sell apartments at Residences One, One Sydney Harbour; Claremont Hall in New York; TRX Residences in Kuala Lumpur; The Reed in Chicago; and Park & Sayer in London. The Reed also comprises 224 build to rent apartments which are 92 per cent leased. Residences One , the first of three luxury residential buildings at One Sydney Harbour, welcomed residents earlier this year. The 315-apartment tower holds the Australian record for the most expensive apartment, with the two-storey penthouse selling for more than $140m in 2019. In New York, Claremont Hall comprises 166 apartments for sale, ranging from one to four bedrooms. The residences feature sweeping views of the Hudson River, Central Park and Lower Manhattan. The residential component of The Exchange TRX precinct, TRX Residences , marked the completion of Tower 1 and 2. The high rise homes feature innovations that elevate industry standards, delivering world-class homes in an integrated precinct. Going forward, we are targeting select build to sell luxury residential opportunities in Australia where we can further leverage our experience and client list to secure funding and pre- commitments to appropriately derisk projects early. Testament to this is our $3.1b One Circular Quay development in Sydney, with the residential component already 70 per cent sold by value, with completion expected in FY27. Sydney: Residences One One Sydney Harbour
Made with FlippingBook
RkJQdWJsaXNoZXIy NjM4NDM=