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9 May 2008
Delfin Lend Lease selected for major community development in South Australia
Lend Lease Corporation Limited today announced that its subsidiary, Delfin Lend Lease Limited (“Delfin Lend Lease”), has been selected as preferred tenderer by the Land Management Corporation of South Australia for the development of an 88-hectare site at Blakeview, South Australia.
Blakeview is located 31 kilometres north of Adelaide and is within South Australia’s Urban Growth Boundary. The site has access to major manufacturing precincts; existing and future transport infrastructure; and the expanding Edinburgh Air Base, which is forecast to have an additional 1,200 military personnel and families relocate to the air base by 2011.
The development significantly builds on Delfin Lend Lease’s strong track record in South Australia, and will provide the local area with approximately 1,600 new residential dwellings, including a combination of medium density land allotments and affordable housing. The site will also offer an 8.9-hectare town centre, consisting of 1.8-hectares of commercial space with the remaining area to include a community centre and open space.
“The South Australian market is a key market for Delfin Lend Lease and this development represents a significant opportunity to provide a sustainable, integrated community in Adelaide’s fastest growing corridor. The early commencement of the project, scheduled for later this year, also provides a complementary earnings profile to our existing backlog,” said Mr David Hutton, Chief Executive Officer of Lend Lease Retail & Communities, Asia Pacific.
“South Australia’s residential market remains strong, with the State’s economy underpinned by continued growth in the mining and resource sector, recent announcements of the Olympic Dam expansion and the Prominent Hill copper operation, and the expansion of the Edinburgh Air Base,” he said.
The project will demonstrate the commitment of both the South Australian Government and Lend Lease to sustainable design, with the provision for recycled water and energy efficient homes that will aim to achieve a high environmental rating.
The acquisition is through a series of land payments over a five year period. Development of Blakeview is expected to commence by year end with the first release of residential land in 2009.
Delfin Lend Lease has a strong track record in Adelaide with successful projects developed over the last 40 years with award winning communities such as West Lakes, Golden Grove and Mawson Lakes which support Lend Lease’s strategy to retain long-term presence in key growth markets and corridors across Australia.
Further information, please contact:
Sally Cameron
Lend Lease Corporation
Tel: 02 9236 6464 | David Hutton
Lend Lease Retail & Communities, APAC
Tel: 02 9236 6777 |
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