According to The Australian Financial Review, Mitsubishi’s inking of a long-discussed “trophy” deal with Lendlease to take a two-thirds stake in the $3 billion One Circular Quay project follows the resumption of high-level business travel between the two countries and other transactions frozen by pandemic restrictions will follow.
Construction – by Lendlease – is due to start “immediately” on the project comprising a 59-level luxury residential tower designed by the late Australian architect Kerry Hill, and a second tower developed as a 220-room luxury hotel designed by Kengo Kuma & Associates.
The completion would be in financial year 2027, the company said.
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