Lendlease is in talks with The Crown Estate, the property arm of the British royal family, to sell a half-stake in six UK projects, worth as much as $38 billion when fully developed, as it winds back its involvement in overseas markets to focus on its Australian operations.
ASX-listed Lendlease said on Thursday negotiations with The Crown Estate were “in the late stages” to enter into a 50-50 joint-venture over the projects, with Lendlease earning fees as master developer of existing projects for the venture.
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Michael Bleby covers commercial and residential property, with a focus on housing and finance, construction, design & architecture. He also dabbles in the business of sport. Michael is based in Melbourne. Connect with Michael on Twitter. Email Michael at mbleby@afr.com
