Lend Lease eyes Millers Point: report

Staff Reporter 15 Aug, 6:37 PM

Lend Lease could fill its requirements for low-cost housing associated with its Barangaroo project by buying a nearby row of terrace houses, according to The Australian Financial Review. 

According to the paper, Lend Lease is considering a $50 million purchase of terrace houses at Sydney's Miller Point, with sources saying discussion over a deal has been ongoing for several months.

Current plans require Lend Lease to set aside at least 10 per cent of its Barangaroo apartments to be sold at affordable prices to lower income earners.

A deal, which could see the developer pass on administration of the properties to a community housing provider, would enable it to shift lower priced properties away from its main Barangaroo site, the AFR reports.

Resoured: http://www.businessspectator.com.au/news/2014/8/15/dataroom/lend-lease-eyes-millers-point-report