Barangaroo South Project Development Agreement

The contract with Lend Lease, known as the Project Development Contract, was signed in March 2010, after the developer received the offer for the $6 billion project. A spokeswoman for the Barangaroo Delivery Authority said the formal dispute resolution procedure outlined in the agreement was incent with the parties seeking a court decision if they could not resolve the case themselves. The Southern District buildings began to open in 2016 and by mid-2017 the remaining sections that were to be completed were the public domain of the area known as Stage 1b (June 2017, which was subject to approval) and the Crown Sydney Hotel Resort. The project development agreement enshrined the main public expectations for Barangaroo, including a global public domain, international benchmark sustainable development goals and the maintenance of land ownership by the public. The agreement allows Lendlease to develop rental properties. Sydney`s three international towers, retail stores and residential buildings are subject to 99-year leases. Public spaces in the Southern District are public property for the benefit of the people of New South Wales and are managed by the Authority. The agreement also ensures that land ownership will remain in the public domain. The project is estimated at about $6 billion.

It is expected to be completed between 2020 and 2025. The Barangaroo South Development Area is Sydney`s largest development project since the 2000 Olympic Games and one of the largest renovations on the shores of the world. It is 7.7 hectares of land in Millers Point, Sydney. The development will transform the old container dock into a new waterfront financial district, with commercial and residential buildings, as well as commercial, gastronomic, hospital and public venues. Learn more about the development agreement with Lendlease for the construction of the southern district of Barangaroo. Lend Lease filed an appeal to the NSW Supreme Court on Thursday after months of disagreement with the government`s Barangaroo Delivery Authority over how to assess the country once construction of Barangaroo South is complete.

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