2223 GMT - Lendlease is in advanced talks to sell a 50% interest in six UK development sites to The Crown Estate, and Barrenjoey thinks a deal would be a good result. That's because Lendlease will have exited most of its UK land management agreements while getting paid for capitalized costs, such as site works and below ground infrastructure. "It increases our forecast return on equity for Capital Release Unit $(CRU.UK)$ to 10% from 5%," analyst Ben Brayshaw says. "This sees us model a 1H26 sale of A$350 million of invested capital at an Ebitda margin on revenue of 5-10%." Barrenjoey retains an "underweight" call on Lendlease. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
May 15, 2025 18:23 ET (22:23 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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