The sale of Crosby Homes to Lend Lease, the Australian property group, could net five directors £25 million. The £235.7 million deal could see Crosby’s chief executive Geoff Hutchinson and four other directors receive a combined £10 million windfall upfront and then share in a further £10 million to £15 million over the next five years if the business performs well. Housebuilder Berkeley agreed to hand over the Crosby business to management in August 2003 in a seven year deal that promised them up to £25 million. Berkeley will receive £235.7 million from Crosby. Lend Lease has commercial property expertise and it said that the purchase of Crosby would give it the cutting edge when bidding for mixed-use projects with a large residential element. (Times, Telegraph, FT)