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Lendlease Group Shares Down After Redevelopment Proposal in New South Wales

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-- Lendlease Group (ASX:LLC) shares fell 2% in recent Monday trade after the company said Sunday that the New South Wales government has decided to advance its proposal to redevelop Rozelle Bay.

The proposed redevelopment aims to deliver up to 3,000 new homes, with plans to complete 1,000 of them by 2032, to help meet more than 35% of the state government's home target of 8,500 homes across the Bays West precinct, Lendlease said.

The company is a long-term leaseholder at Rozelle Bay, and will continue to collaborate with the government to refine the proposal, it said.

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