Waterbank - Perth, Western Australia
  • Client Metropolitan Redevelopment Authority
  • Location Perth
  • Value Circa $1 Billion
  • Completion 2021

Lendlease Involvement

  • Master developer
  • Developer of each individual stage


Waterbank will include a mix of apartments, offices, restaurants, cafes and shopping, and potentially a hotel. There will be new green open spaces and fantastic waterfront amenity, community facilities, waterfront dining and apartments with stunning Swan River views.


  • Approx. 6 hectare site
  • Residential:  over 600 dwellings
  • Commercial/Retail: approx. 16,000m² – 24,000m²

Waterbank will showcase leading environmental standards and will help make sustainable living a natural way of life for its community.

To register your interest in Waterbank, please visit www.waterbank-perth.com.au


The mixed use project includes the construction of over 600 residential dwellings (apartments and townhouses), up to 20,000m² of commercial office space, approximately 4,000m² of retail space and potentially a hotel, along with significant public realm including green spaces, riverfront promenades, a town square and the Hay Street pier.

Staged development is set to occur over approximately 7 to 10 years. Waterbank aims to generate more than 8,000 jobs, including 1,000 on and offsite jobs each year during construction and more than 1,500 jobs post-construction.

Design Challenges and Innovation

Lend Lease is working closely with Australian architectural practice Hassell to create a design tailored specifically to Waterbank’s exceptional riverfront attributes, unique in central Perth.

The proposed master plan design incorporates:

  • Low rise buildings overlooking the river - ensures sustainable and environmental building performance, more open space, public promenades and new green spaces
  • A town square area
  • Accessible river edges with continuous public access - greater activity on the water’s edge, creation of a natural beach area and boating access
  • Connection of Hay Street - creating a direct connection to the Swan River from one of Perth’s major streets, with a new river pier

Leadership in Sustainability

Waterbank aspires to be a water positive precinct and is aiming to deliver an Australian leading Green Star residential development.

The development targets a number of sustainability initiatives, including:

  • Access to new green and open spaces
  • Low energy and carbon buildings
  • Smart building technologies - alternative energy generation, state of the art communication technology


With the Project Development Agreement now in place, Lend Lease will work closely with the MRA in the design and planning for the project ahead of the expected commencement of construction in 2015, with completion expected in 2022.

Collaboration is an important part of developing significant, large scale projects such as Waterbank.  We will be bringing a collaborative approach to the project, working closely with the WA Government, the MRA, the City of Perth, key stakeholders, neighbours and the community to ensure the vision for the project is achieved and the best possible result is reached for the people of Perth and WA.