Lend Lease Group (ASX:LLC) has inked an exclusive deal with Crown Limited (ASX:CWN) to work with the casino operator to develop a six star hotel resort at Barangaroo South.
Property developer Lend Lease is currently developing two commercial towers at its $6 billion Barangaroo South development in Sydney.
The latest deal will see both Lend Lease and Crown work for up to two years to develop plans for the hotel resort before development approvals are sought.
Crown Executive Chairman James Packer says he wants the Crown to build the best hotel in the world at Barangaroo and the company is currently considering including a VIP only gaming facility at the hotel resort.
In the first half of the 2012 financial year Lend Lease Group posted a net profit of $219 million.