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."