Lend Lease shares fall as Sydney site fire halts work
[SYDNEY] Lend Lease Group, Australia's biggest listed property developer, fell by the most in two weeks after a fire forced work to halt at its A$6 billion (S$6.8 billion) Barangaroo South development on Sydney's harbour.
A fire started at about 2 pm local time in the basement at the southern end of the site, possibly destabilising a crane and prompting the area to be evacuated, according to the company and emergency services. The shares slid 2.6 per cent to end the day at A$11.31, the biggest decline since Feb 26.
"There are concerns that if the fire does continue to burn, it could possibly cause some structural issues" with the crane, Superintendent Ian Krimmer of Fire and Rescue New South Wales said in televised remarks to reporters. "There's no immediate threat of the crane coming down but we have to contain this fire."
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
Singapore retail rents slip 0.4% in Q1 as vacancy rates creep up
Country Garden plans to present debt revamp plan in H2, sources say
Hong Kong home prices rise for first time in 11 months after curbs scrapped
HDB resale prices accelerate, rising 1.8% in Q1 on stronger demand
Private home prices ease to 1.4% rise in Q1; rents fall a further 1.9%
OUE wins tender to lease, develop new ‘zero-energy’ hotel at Changi Airport’s T2