Cash to flow as Cate Blanchett looks to Lend Lease

IN what may seem an unlikely alliance, Cate Blanchett's green-tinged Sydney Theatre Company has teamed up with property developer.

IN what may seem an unlikely alliance, Cate Blanchett's green-tinged Sydney Theatre Company has teamed up with an international property developer.

The company has signed what is believed to be a seven-figure "strategic partnership" with Lend Lease, the international developer of the controversial $6 billion Barangaroo precinct on Sydney Harbour.

Announcing the four-year partnership yesterday, Blanchett said the STC and Lend Lease - which this week secured $2bn to start work on the first two Barangaroo office towers - had a "shared vision for sustainability".

"When Andrew (Upton) and I came to the theatre company and announced our desire to green our operations - and therefore be engaged in (fighting climate change), one of the most important issues facing us as a species - we were very inspired by Lend Lease's already engaged green programs and sustainability programs," she said. "That was incredibly important to us."

Lend Lease chief executive Mark Menhinnitt refused to disclose the amount of the deal, but said the relationship would be mutually beneficial. German car manufacturer Audi will remain STC's main sponsor.

Blanchett said Sydney's "cultural ribbon" - an area stretching from the Opera House to Walsh Bay and Barangaroo encompassing the city's major arts companies - would be one of the "most amazing districts in the world".

"The cultural precinct is well on its way to becoming an anchor - perhaps even the anchor - of Sydney's cultural life," she said.

Blanchett and Upton, her husband, have been artistic co-directors of STC since 2008.

Their term finishes at the end of next year, and Blanchett said the deal fitted with the pair's wish to leave a green legacy.

It will include support for STC's Greening the Wharf initiative, a program in its fifth year that has cut water and electricity consumption and reduced carbon emissions at the Walsh Bay site.

Upton said artistic benefits from the deal would include "inter-business collaborations" and a four-year documented history of the partnership as Barangaroo was developed.

"It will be the source of many stories, hopefully some comedies with happy endings," Upton said.

A decision is expected later this year on plans by James Packer's Crown Group to build a casino at Barangaroo.