Lendlease's $1.2B tower secures development approval

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Development approval has been secured for Lendlease's new $1.2 billion commercial tower above the future Victoria Cross metro station in North Sydney. 

The project is expected to create thousands of construction jobs, with impactful flow-on effects throughout the rest of the economy in areas such as building design, engineering and manufacturing. 

The project, which will include a 42-storey tower, was approved by the NSW Department of Planning, Industry and Environment. It is among the first to be approved by the State Government's third tranche of projects under the Planning System Acceleration Program. 

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The tower will house roughly 7000 office workers across 56,000 square metres of premium space for retail and office use. 

Lendlease Managing Director, Development Matthew Mears said the green light is a crucial milestone for the larger Victoria Cross development, which is in line with Lendlease’s strategy to support and deliver infrastructure projects that create better economic and social outcomes.

“Lendlease looks forward to working in partnership with the NSW Government, Sydney Metro and North Sydney City Council to deliver the next phase of our shared vision for a vibrant, connected North Sydney,” Mears said.

“Now more than ever it’s vital we continue to deliver projects that create employment opportunities and contribute to rebuilding the economy.”

The project is expected to begin in early 2021, with construction lasting three years.

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