Lendlease Unveils $2.5B Luxury Residential Project at Liverpool Street
Lendlease has expanded its Australian development pipeline with a landmark $2.5 billion luxury residential project at 175 Liverpool Street, Sydney, signaling strong confidence in the high-end market and its strategic growth plans.
- New $2.5 billion luxury residential development at 175 Liverpool Street, Sydney
- Project includes over 2,000 apartments and 300 sqm of retail space
- Joint venture with early selldown to partners planned
- Completion targeted by calendar year 2030, with earnings starting FY27
- Lendlease continues to simplify operations and achieve significant cost savings
Lendlease Strengthens Australian Development Pipeline
Lendlease has announced a significant expansion of its Australian residential development portfolio with the acquisition and planned development of a luxury residential site at 175 Liverpool Street, Sydney. Valued at over $2.5 billion, this project is set to deliver more than 2,000 high-end apartments alongside retail space, reinforcing Lendlease’s position in the premium urban housing market.
The development is structured as a joint venture, with an early selldown of up to 50% to project partners, a strategy that aligns with Lendlease’s approach to risk management and capital recycling. Construction is targeted to commence by fiscal year 2027, with completion expected by calendar year 2030. This timeline dovetails with Lendlease’s broader strategy to generate predictable earnings streams through development fees, settlement payments, and ongoing management.
Capitalising on Strong Demand and Urban Renewal
The Liverpool Street project complements Lendlease’s existing luxury residential successes, including the One Circular Quay development, which has achieved over 80% sales by value and exceeded $2 billion in sales. CEO Tony Lombardo highlighted the project as a key opportunity to build on Lendlease’s market-leading credentials in luxury residential development, particularly in Sydney’s competitive urban landscape.
With views overlooking Sydney Park and proximity to key precincts like Barangaroo and Darling Point, the development taps into sustained demand for premium living spaces. Lendlease’s focus on mixed-use urban renewal precincts continues to resonate with buyers and investors seeking lifestyle and location advantages.
Strategic Growth and Operational Simplification
This announcement is part of a broader push by Lendlease to restock its Australian development pipeline, which currently boasts over $3 billion in approvals and $1.5 billion in new investment mandates. The company is also advancing its capital recycling program, with $2.5 billion in transactions either completed or underway, enhancing financial flexibility.
In parallel, Lendlease is simplifying its global operations by exiting international construction management in regions such as the UK and Asia, focusing instead on core Australian markets. These moves have contributed to more than $125 million in annual pre-tax cost savings, underscoring a disciplined approach to operational efficiency.
Looking ahead, the Liverpool Street project is expected to be a material contributor to Lendlease’s earnings profile beyond FY27, supporting the company’s ambition to deliver strong, sustainable growth in the luxury residential sector.
Bottom Line?
Lendlease’s Liverpool Street project marks a decisive step in its luxury residential ambitions, setting the stage for growth amid evolving market dynamics.
Questions in the middle?
- How will market conditions affect the timing and scale of the Liverpool Street project’s selldown?
- What impact will Lendlease’s operational simplification have on its international revenue streams?
- Can Lendlease sustain strong demand for luxury apartments amid broader economic uncertainties?