An artist’s impression of the Bays West development site in Sydney’s inner west
Property developer Lendlease is looking to redevelop one of the last major sites in Sydney’s inner west that fronts Sydney Harbour with a multibillion-dollar scheme at Rozelle Bay.
The move would see the Sydney Superyacht Marina, which Lendlease owns, and a neighbouring dilapidated strip devoted to boat repair demolished and replaced with half a dozen soaring towers and smaller associated buildings.
Lendlease has a long history with the site and in 2021 tried to get a residential-heavy scheme approved but that did not progress. Its latest move for an integrated precinct comes after the NSW government last month unveiled a wider redevelopment of Bays West and confirmed the new Bays West Metro Station.
Lendlease has plans for half a dozen towers at the Rozelle Bay site.
The new proposal, lodged in late 2025, has now advanced to the second stage of assessment. It is focused on building diverse housing close to jobs, services and public transport, and aims to unlock access to the waterfront by developing an accessible foreshore.
The site is being billed as a new harbourside precinct, with up to 3000 new units in high-rise towers, including a portion of affordable housing. Lendlease aims to complete 1000 units by 2032 when the station opens.
The listed developer would deliver more than 35 per cent of the NSW government’s 8500-home target in the area. A new marina would also be part of the scheme.
The overall area, Rozelle Bay, has been billed as Sydney’s first new inner-city suburb in decades, with plans for up to 8500 homes across the precinct, alongside the station. Bulk port operations will be shifted from Glebe Island to make way for the new suburb, where the White Bay Power Station is to be a creative hub.
The site is being billed as a new harbourside precinct, with up to 3000 new units in high-rise towers.
A decade ago Lendlease had sought to redevelop that site into commercial premises for technology giant Google. But its plans were hampered by poor transport links and a flawed tender process.
State development arm UrbanGrowth NSW later held talks to secure Google as a tenant as part of its vision to turn the site into a leading tech hub.
While these plans also soured, Lendlease got positioned in the area anyway.
In late 2016, the listed giant and private real estate group Markham teamed up to buy the Sydney Superyacht Marina, which gave them a crucial sliver of Sydney’s Bays precinct. Markham later disposed of interest.
The Baird government nominated the underdeveloped segment of Sydney Harbour as a key part of plans to revitalise the city. It also flagged the construction of thousands of apartments at the Sydney Fish Market’s Pyrmont site. Rival developer Mirvac won that project last year and is now working on a scheme for 1400 apartments.
Lendlease said it would work with the NSW government to refine the Rozelle Bay proposal.
Lendlease has a history of mixed-use urban renewal projects n Sydney Harbour, including Barangaroo South, which includes both luxury apartments and offices, and it also built Crown Sydney.
Lendlease said it would work with the NSW government to refine the proposal. “It builds on Lendlease’s long history of creating city-defining precincts that deliver lasting value for communities,” Lendlease chief executive Tony Lombardo said.
NSW Minister for Lands and Property Steve Kamper said Bays West was one of the most important urban renewal opportunities in Sydney. “Our starting point is clear: we want more well-located homes near the CBD,” he said.