Lend Lease Corporation
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| Type | Public (ASX:LLC) |
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| Founded | Sydney, Australia, 1958 |
| Headquarters | Sydney, Australia |
| Key people | David Crawford, Chairman Steve McCann, CEO Tony Brennan, Head of Corporation Operations Brad Soller, CFO |
| Industry | Property Development |
| Products | Pharmaceuticals Construction, Project Management & Private Finance Initiatives (PFI) Retail & Communities Investment Management |
| Revenue | A$14,677.9 million (2008) |
| Operating income | A$447.1 million (2008) |
| Net income | A$259.0 million (2008) |
| Employees | 12,039 (2008) |
| Subsidiaries | Actus Lend Lease Bovis Lend Lease Crosby Lend Lease Delfin Lend Lease Lend Lease Development Lend Lease Shopping Centres Catalyst Lend Lease Vita Lend Lease Vivas Lend Lease Lend Lease Ventures Lend Lease Prime Life |
| Website | www.lendlease.com.au |
Lend Lease Corporation Limited is an Australian-based multinational property management and investment company.
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[edit] History
The Company was established by Dick Dusseldorp in 1958 to provide finance for building contracts being undertaken by Civil and Civic.[1] In 1961 the Company acquired Civil and Civic from Bredero's Bouwbedrijf.[1]
In 1999 the Company acquired Bovis Construction from P&O.[2] Then in 2000 it bought AMRESCO's commercial mortage business.[3] It went on to buy Crosby Homes for circa £240 million in 2005.[4]
In 2005 the company moved from its previous premises in Australia Square in Sydney to The Bond on Hickson Road.[5]
[edit] Operations
The company operates in more than 40 countries around the world. In all of these, the Bovis Lend Lease division constructs and manages large building projects. The company runs additional businesses in certain markets:
- In the Asia-Pacific region the company owns the Delfin Lend Lease residential property development group, a major Australian residential property developer mainly concentrating on outer-suburban greenfields suburbs.
- Lend Lease also operates a retail development investment business in the UK, the third largest in that market, and is a developer of retail properties in its own right. It also conducts many "public-private partnership" developments with the UK government, particularly concentrating on hospital and defence housing estate developments.
- In the United States, Actus Lend Lease is involved in the development of defence housing through US government privatisation initiatives in this area.
The current Chief Executive Officer is Steve McCann, who took up the position from Greg Clarke in late 2008. The chairman of the board of directors is David Crawford, formerly the head of KPMG Australia and a director of a number of other companies.
[edit] See also
[edit] References
- ^ a b Lend Lease History
- ^ Lend Lease offers Olympic work to Bovis rivals Building, 23 February 2009
- ^ Lend Lease completes purchase of AMRESCO Mortgage Holdings Real Estate Weekly, 5 April 2000
- ^ Crosby Homes chiefs in line for £25m from sale to Lend Lease The Times, 24 June 2005
- ^ Lend Lease moves as restructure starts Australian Business Intelligence, November 2001
