Lendlease to sell Bingara Gorge to Metro

27 May 2021

Metro Property Group has emerged as the expected buyer of Lendleases half finished Bingara Gorge project in Sydney South West in a $220m deal.

Situated on the Hume Highway about 80 kilometres south of Sydney and 30 kilometres north of Wollongong, Bingara Gorge was one of Lendlease major residential community development but was put up for sale earlier this year.

The project forms part of the growth area of Wilton which is expected to house over 15,000 homes by 2040. Lendlease’s 112 hectare parcel has the capacity to yield almost 900 lots and found interest from the usual suspects including Mirvac, Satterley, Stockland, Frasers and the Perich family.

Lendlease developed a retail village, primary school and community facilities and delivered around 900 lots across the 450-hectare estate.

Lendlease had been in discussions with Poly Global on the acquisition in late 2020 but the deal did not proceed.

Metro Property Group also confirmed that it has acquired a 11.5 hectare site in Pemulwuy, from Revelop and Mintus for $55 million. The site sold with development approval for 119 residential lots, 120 apartments and 22 duplexes.