Crown Resorts Reaches Out-of-Court Settlement For Barangaroo Casino
After a tumultuous three-year legal battle, the towering properties of Lendlease and Australia’s Crown Resorts will be able to continue to enjoy unobstructed views of the iconic Harbour Bridge and Sydney Opera House.
This is because the NSW government helmed by Premier Gladys Berejiklian dropped its Supreme Court appeal against the two entities on 19 August after reportedly reaching a confidential out-of-court settlement.
In December 2018, the NSW Supreme Court ruled in favor of Crown Resorts and Lendlease in a lawsuit that involved the two multi-national companies’ billion-dollar waterfront properties.
The court decision alleged that NSW’s Barangaroo Delivery Authority (BDA) violated its existing development agreements by not consulting the two firms in negotiating the final phase of Barangaroo Central.
The masterplan for the mixed-use township in Barangaroo shows that its new towering developments may impede harbor views from the newly-inaugurated Crown Sydney casino and Lendlease’s planned apartment complex. However in February 2019, the BDA decided to file an appeal against the Supreme Court judgement.
Nine News Australia
Decision Favours “Sight Lines” of Crown And Lendlease
Justice Robert McDougall said that the existing pact between the NSW government and the two developers sets a precedent for the retention of Crown and Lendlease’s “sight lines” to the Sydney Opera House.
McDougall underscored that the BDA was required to consult all stakeholders for any and all future developments, highlighting that construction must be undertaken without obstructing the harbor views of other establishments. The Judge stated that Lendlease who is yet to construct their high-rise apartments and Crown Resort’s $2-billion hotel and casino tower have the right to take full advantage of their unique vantage point of Harbour Bridge.
The Berejiklian administration was expected to appeal its case this week, after expressing intent to do so in January 2019. In a disclosure with the ASX, Crown Resorts reported that the involved parties will no longer return to court after reaching a confidential settlement.
Crown Focuses On 2021 Launch
Crown Resorts released a statement and confirmed that they were glad to have reached an amicable settlement that will protect its sight lines to Sydney’s popular waterfront vistas. The casino operator has begun refocusing its efforts on the opening of its upcoming Crown Sydney Hotel Resort which is expected to open its doors to the public in early 2021.
Similarly, Lendlease CEO Steve McCann was happy with the reinforced decision and confirmed that the company is moving on with their plans for their One Sydney Harbour project. The developer’s three residential towers are set to rise beside Crown’s property.