LLC.ASX: Lendlease announces sale of MSG North

Lendlease announces sale of MSG North

Stock	Lendlease Group (LLC.ASX)
Release Time	1 Jun 2026, 8:53 a.m.
Price Sensitive	Yes

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Lendlease Announces Sale of MSG North

Key Points

Sale of MSG North development rights to Bizzi & Partners S.p.A for $250m
Transaction includes cash proceeds of $90m and assumption of $160m debt
Expected to result in a post-tax operating loss of $175m in FY26

Full Summary

Lendlease has announced the sale of its ownership of the development rights to the Milano Santa Giulia mixed-use development (MSG North) in Milan, Italy, to an investment group sponsored by Bizzi & Partners S.p.A for approximately $250 million. The transaction includes cash proceeds of around $90 million and the assumption of project debt of around $160 million. The sale is expected to result in a post-tax operating loss of approximately $175 million, to be recognized within the Capital Release Unit (CRU) in FY26. This strategic sale is part of Lendlease's broader capital recycling initiatives aimed at reducing long-dated international development capital and simplifying the Group.

Guidance

Post-tax operating loss of approximately $175m in FY26

Outlook

Lendlease expects to provide a further update in the coming weeks regarding the status of ongoing capital recycling transactions.