Developers shortlisted for Central Barangaroo

Cbus Property, Frasers Property Australia, Grocon, Lend Lease and Mirvac were announced last week as the shortlisted candidates for each of the three development parcels, which in total cover two of the five hectare Central Barangaroo site.

The five developers were shortlisted from 16 high quality expressions of interest from both national and international developers and investors.

Two evaluation panels supported by technical experts and overseen by a probity advisor assessed the expressions of interest. The assessment criteria included capability, finance, risk, design excellence and public benefit.

“Central Barangaroo will be an active and diverse mixed use area located between the financial quarter of Barangaroo South and the natural beauty of the Headland Park,” said Barangaroo Delivery Authority CEO Mr John Tabart.

The shortlisted developers are to prepare and submit formal bids on the individual parcels, though may submit bids that combine two or more parcels. A decision on the next stage of the process is expected mid-2015.

Construction at Central Barangaroo is due to commence in mid-2016 and be completed in 2021.

The Property Council views the Barangaroo urban renewal project as essential to Sydney’s continued evolution as a global city and the capacity of Sydney and NSW to attract investment.

Source: News Release Property Council of Australia media release, 27 August 2014

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