Lend Lease targets finance sector for Barangaroo's towers
Lend Lease is targeting financial services companies in its marketing for the office towers it is building in the Barangaroo development, on the western fringe of the Sydney business district.Lend Lease is the developer of a 7.5 hectare commercial, retail and residential sector at the southern end of Barangaroo (about one-third of the total site). It has signed up Westpac as anchor tenant for one of its office towers and KPMG for another.Lend Lease chief executive Steve McCann said the large, open floor-plates of the towers would allow for the sort workplace flexibility that financial institutions wanted these days.Speaking at a meeting of the Sydney Financial Forum yesterday, McCann said the precinct would include all the lifestyle amenities that professionals look for in a workplace.The Sydney Financial Forum chairman, Peter Collins, said that with Westpac and KPMG taking a lead, other financial institutions have been encouraged to look at the area.Collins said there had been "slippage" in the development of Sydney as a regional financial centre over the past decade but he believed Barangaroo had the potential to be Australia's Wall Street.KPMG chief executive Geoff Wilson said modern workplaces had to allow for greater flexibility and diversity. Wilson said: "At any time 50 per cent of our real estate is vacant. We have to look at how we can increase productivity and with the space we are moving to we can save space."