Jun 1, 2026 – 1.14pmLendlease will record a $175 million loss from its sale of a mixed-use development in Milan in a move likely to stoke further concerns among shareholders as the company shrinks its global footprint to focus on Australian operations.ASX-listed Lendlease said that while the Milano Santa Giulia (MSG North) project in Milan sold to Italian developer Bizzi & Partners and a group of investors for a gross value of $250 million, project debt of $160 million and costs for future remediation and infrastructure works meant it would book a post-tax operating loss of $175 million from the sale.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
Lendlease takes $175m hit as it sells Italian job
Lendlease’s global sell-down of assets, which aims to return funds to shareholders after decades of value destruction, is not going to plan.
122 words~1 min read
