Sydney, 28 July 2025: Further to its announcement on 16 July 2025, Lendlease today announced it has entered into a joint venture with Mitsubishi Estate Asia (MEA) and Nippon Steel Kowa Real Estate (NSKRE) to deliver a luxury residential development at 175 Liverpool Street, Sydney.
The acquisition of the site, which is subject to conditions precedent, is intended to be developed as two luxury residential towers with up to 300 apartments for sale and 2,000 square metres of retail and commercial space, subject to planning consents. It will have a development end value of more than $2.5 billion.
Under the terms of the agreement, MEA will take a ~33 per cent equity share in the joint venture, and NKSRE a ~17 per cent share.
Centrally located in Sydney’s CBD at the southern end of Hyde Park, residences at 175 Liverpool Street will offer north-facing expansive views across 16 hectares of green space through to the Opera House and Sydney Harbour.
The project builds on Lendlease’s strong success in Sydney’s luxury residential market and marks the seventh partnership between Lendlease and MEA; previous and current projects include One Sydney Harbour, One Circular Quay and One Darling Point in Sydney, and East Tower residences at Melbourne Quarter.
It also marks the second venture between Lendlease and NSKRE, with build-to rent development 899 Collins at Victoria Harbour in Melbourne currently in delivery.
Construction of 175 Liverpool Street is targeted to commence in 2027.
Quotes attributable to Tom Mackellar, CEO Development, Lendlease
“The acquisition of 175 Liverpool Street builds on our success in Sydney’s luxury residential market, as we continue to add to our development pipeline in Australia.”
“We look forward to working alongside our trusted development partners, Mitsubishi Estate Asia and Nippon Steel Kowa Real Estate, on this landmark development in one of Sydney’s most sought-after locations.”
Quotes attributable to Yosuke Matsunaga, Head of Australia, Mitsubishi Estate Asia
“We are excited to collaborate with both Lendlease and NSKRE on this landmark project at 175 Liverpool Street – a rare opportunity to deliver a world-class residential address in one of Sydney’s most prestigious locations.
“This partnership reflects MEA’s long term commitment to the Australian market and our continued confidence in the strength of Sydney’s luxury residential sector.”
Quotes attributable to Itaru Ishihara, Managing Director International Business Division, Nippon Steel Kowa Real Estate
“We are honoured to participate in the 175 Liverpool Street residential development in Sydney, following our first project in Australia last year—the Build-to-Rent development at 899 Collins Street in Melbourne.
“Adjacent to Hyde Park—a place of cultural and emotional significance to the people of Sydney—this represents a precious opportunity to enhance the character of the surrounding urban environment in one of the city’s most cherished settings.
“We are pleased to collaborate with Lendlease and Mitsubishi Estate Asia, both distinguished for their leadership in Australia’s premium condominium market.
“In line with our philosophy of ‘Communicating with People, Creating the City,’ we are committed to delivering a development of enduring quality and value in harmony with the community it serves, together with our partners and stakeholders.”
ENDS
For more information:
Ashley Chrysler
Senior Manager External Affairs – NSW/ACT/QLD
ashley.chrysler@lendlease.com
+61 472 653 297