Shares of Lendlease (ASX:LLC) and Mirvac (ASX:MGR) fell slightly after the companies were named development and delivery partners for the new Hunter Street metro precinct by Sydney Metro, according to a Tuesday statement by Lendlease.

The project will deliver a landmark metro station and two over-station developments in Sydney's Central Business District, the statement said.

Lendlease is expected to start construction of the station's main works in late 2026, with the station scheduled to open in 2032 in line with the opening of Metro West services. The over-station developments are targeted to be completed following the station opening.

The company said that the Hunter Street Station is set to be one of the busiest stations on the Metro West line, with more than 15,000 people moving through the station every hour in the morning peak.

Lendlease shares fell 1% and Mirvac shares fell almost 1% in recent Tuesday trade.