Waterbank Hero
  • Client Metropolitan Redevelopment Authority
  • Location Perth
  • Value Circa $1 Billion
  • Completion 2021

Lend Lease Involvement

Lend Lease is the master developer of the Waterbank precinct, responsible for delivery of the public realm and infrastructure, as well as the developer of the individual stages i.e. residential, commercial office, retail.


Waterbank is the next major city shaping initiative for Perth and is an important part of the ongoing evolution of the city. Lend Lease is utilising its national and international experience in waterfront and urban regeneration projects to transform a largely unused part of the city into a dynamic destination, ensuring Waterbank is a world-class place for people to live, work and play.

With more than 900 residential apartments, up to 20,000sqm of commercial office space Waterbank will help meet the important need for residential dwellings and commercial space.


  • Approx. 6 hectare site
  • Residential:  over 900 dwellings
  • Commercial/Retail: up to 20,000m²

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

The Waterbank vision is to become Perth’s most natural city lifestyle, its design embraces the urban and natural interface, unique at this CBD location.

Waterbank will act as an important gateway to the city of Perth and will re-engage the city with the waterfront through a diverse range of public spaces, retail amenity, and new residential and commercial accommodation.


The mixed use project includes the construction of over 900 residential dwellings (apartments and townhouses), up to 20,000m² of commercial office space and retail space, along with significant public realm including green spaces, town square, boardwalk, jetty and beach.

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 will set new standards in environmentally sensitive and sustainable development. Not only will Waterbank showcase leading environmental standards, it will also help make sustainable living a natural way of life for its community:

  • We will aim to deliver an Australian leading Green Star residential development.
  • Access to new green and open spaces.
  • Low energy and carbon buildings.
  • Smart building technologies.

Waterbank has been accepted for Green Building Council of Australia’s Green Star – Communities pilot rating tool.

  • Waterbank is aiming for a 5 Star Green Star ‘Australian Excellence’ – and to deliver an Australian first with certification under this new tool.


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.