Leighton closes in on Sydney skyscraper JV
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Leighton Holdings (LEI) is close to sealing a joint venture with private developer Winten Property Group that will see it anchor North Sydney's next major skyscraper, according to The Australian.
The tower would be the first of more than $1 billion in skyscrapers in the pipeline for North Sydney to be realised and given Winten and the listed contractor's property unit the edge over its rivals.
Leighton would look to move up to three of its North Shore tenancies to anchor the tower, according to The Australian.
The deal is structured so that Leighton will buy the site and then Jones Lang LaSalle and CBRE are in line to market the $350 million-plus end-product to international investors, the newspaper said.
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