• Lendlease to develop 52-storey premium commercial tower in Sydney CBD
• Project includes $1.5 billion contract for construction of Sydney Metro station
• Adds $4 billion to Lendlease's secured construction pipeline

Lendlease has announced it has secured the Sydney Metro Hunter Street West Over Station Development, which includes the construction of the metro station and the development of a 52-storey premium commercial tower in the Sydney CBD. The West Tower is expected to comprise up to 58,000 sqm of leasable commercial area and ~1,000 sqm of retail space, with an anticipated gross end value of ~$2.2 billion. The ~$1.5 billion contract for the construction of the metro station will add to Lendlease's secured construction pipeline. The project is targeted to commence in FY27 and complete in 2032, in line with the station's planned opening. The new project continues the restocking of Lendlease's Australian development pipeline, contributing to a target of more than $10 billion of new opportunities in FY26, and adds to a secured pipeline of $10 billion. Lendlease is also advancing discussions in relation to the development of its RNA Showgrounds site in Brisbane and is in the final stages of a competitive tender process for a large residential metro development in Melbourne.

The Hunter Street project is expected to deliver returns above the Group's cost of equity and contribute to Lendlease's future earnings profile, including expected receipt of development management and performance fees, as well as construction income.

Lendlease's focus remains on strengthening its balance sheet and developing opportunities for growth across its Australian operations and international investment management platform.