The Project Development Agreement is the contract between the NSW Government represented by the Barangaroo Delivery Authority and the developer of Barangaroo South, Lend Lease (Millers Point) Pty Ltd. The obligations of Lend Lease are guaranteed by Lend Lease Corporation Limited, the ultimate parent company of the Lend Lease Group.
The Agreement was signed by the Authority and Lend Lease on 5 March 2010. It remained conditional until 22 June, when a range of conditions were satisfied by Lend Lease.
The Agreement allows Lend Lease to develop leasehold buildings on Barangaroo South. Commercial, retail and residential buildings on Barangaroo South will be subject to 99 year leases. The public domain within Barangaroo South will be retained in public ownership for the benefit the people of New South Wales. The Agreement also guarantees that the land title to Barangaroo South always remains in public ownership.
|Summary of Project Development|
|Project Development Agreement|