Lendlease secures major Hunter Street development and metro station contract

Lendlease announced it has secured the Sydney Metro Hunter Street West Over Station Development, which includes constructing a metro station and a 52-storey premium commercial tower (West Tower) in the Sydney CBD. The West Tower is anticipated to comprise up to 58,000 sqm of commercial area and 1,000 sqm of retail space, with an expected gross end value of ~$2.2 bn. The construction contract for the station is valued at ~$1.5 bn.

The project is targeted to commence in FY27 and complete in 2032, aligning with the station's planned opening. Lendlease expects this project to contribute to its future earnings through development management and performance fees, alongside construction income, delivering returns above the Group's cost of equity.

This new contract contributes ~$4 bn to Lendlease's secured construction work in the first half of FY26. It also adds to the Australian development pipeline, bringing year-to-date additions to ~$5 bn during 1H FY26 and supporting the target of over $10 bn in new opportunities by FY26.