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27 July 2010
Major Milestones for Landmark Darling Harbour Development Sydney
Sydney, 23 July 2010 - Lend Lease today announced the construction of Darling Walk has reached the half way mark, with the structural completion of the project.
Premier Kristina Keneally and Minister Assisting the Minister for Planning, Barbara Perry participated in a ‘topping off’ ceremony to mark the milestone. This involved placing a tree on top of the building structure.
The site, which is being developed by Lend Lease in partnership with Sydney Harbour Foreshore Authority, will include a low rise campus-style commercial development with more than 55,000 square metres of net lettable area across two nine-storey buildings, a rejuvenated retail precinct, a new park and playground incorporating water play and associated car parking.
The $500 million project represents a major investment and contribution to the local economy with 7,000 people being employed during the three year construction phase.
The Lend Lease designed and constructed project is registered for a Green Star Office Design rating and is targeting a 6 star Green Star rating. The development will deliver a number of sustainability initiatives, including potable water reduction of 90 per cent through rainwater harvesting and onsite waste water recycling initiatives, carbon emission reduction through energy efficient design, reduction of energy use via chilled beam and fresh air systems, a high performance façade to minimise heat entering the building and to maximise natural light, as well as a minimum 80 per cent of onsite waste to be recycled during construction.
At the ceremony, Premier Kristina Keneally advocated Darling Walk’s sustainable initiatives. “Darling Walk is a landmark project for Sydney targeting the highest ratings for environmentally sustainable design and construction,” Ms Keneally said.
“This will include initiatives to reduce potable water use by 90 per cent and recycling a minimum of 80 per cent of on-site waste during construction.”
In another major milestone, the Sydney Harbour Foreshore Authority and Commonwealth Bank announced that Darling Walk will be officially renamed. Commonwealth Bank, occupying all the commercial space in the development, has announced the name of its new buildings as ‘Commonwealth Bank Place.’ The Commonwealth Bank has leased the commercial component for an average of 13 years, with the Bank to accommodate over 5,500 employees at the site.
In addition, the Sydney Harbour Foreshore Authority announced a renaming of the public domain precinct to ‘Darling Quarter.’ The Darling Quarter precinct will include a playground area, proposed dedicated community space, ground floor retail areas and a public car park. Darling Quarter will reinvigorate links with the Sydney CBD creating new pedestrian connections with Town Hall station, Chinatown and the Darling Harbour waterfront. Rod Leaver, Chief Executive Officer, Australia for Lend Lease, said today’s event represents a significant milestone for one of Sydney’s most important new developments.
“Darling Quarter showcases best practice sustainability in both an environmental and social sense and promises to reinvigorate the entire Darling Harbour precinct. We are creating an iconic new space for the public and leaving a powerful legacy for Sydneysiders and visitors for generations to come.
“Lend Lease are proud to have achieved this significant milestone and look forward to delivering the remainder of the project safely, on time and to budget.”
Commonwealth Bank, Chief Financial Officer David Craig said: “Set amongst the revitalised Darling Quarter, Commonwealth Bank Place will offer our employees an innovative, sustainable and creative work space that represents one of the most significant corporate accommodation projects the Bank has ever undertaken.”
The project continues Lend Lease’s 20 year association with the development of Darling Harbour precinct and foreshore. During this time Lend Lease has delivered six major stages of the precinct including the Four Points by Sheraton, three stages of Darling Park, Jacksons Landing and Cockle Bay Wharf.
Darling Quarter is owned by the Lend Lease managed Australian Prime Property Fund (APPF) Commercial and an offshore institutional investor. Bovis Lend Lease is responsible for project management, design management and construction with development services provided by Lend Lease.
Darling Quarter is on program to be completed in mid 2011.
For more information contact:
Leonie Beach
Media Advisor
Lend Lease
0422 188 744
About Lend Lease
Lend Lease is one of the world’s leading fully integrated property solutions providers, with a focus on core markets in Australia, Asia, Europe and the Americas. Lend Lease’s capabilities span the property value chain including development management; investment management; project management & construction and asset & property management.
Lend Lease’s expertise covers multiple sectors including commercial, residential, retail, retirement and social infrastructure. Lend Lease is committed to creating innovative and sustainable property solutions, delivering maximum benefits to clients, investors and communities.media
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