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Lendlease

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This article is about the company. For the World War II program, see Lend-Lease.

Lendlease Group
Company typePublic
ASX: LLC
IndustryConstruction, Infrastructure and Real estate
Founded1958 (Sydney)
HeadquartersMillers Point, New South Wales, Australia
Area served
Worldwide
Key people
David Crawford (Chairman)
Steve McCann (CEO and Managing Director)
ProductsAsset and Property Management, Building, Engineering, Infrastructure Development, Investment Management and Services, Asset and Investment Legal Services.
RevenueIncrease $15,088.5 million (2016) [1]
Increase$698 million (2016)[1]
Number of employees
Over 11,000 (2016)[2]
SubsidiariesLend Lease Investment Management
Lend Lease Project Management & Construction
Lend Lease Residential Development
Lend Lease Communities
Lend Lease Development
Lend Lease Infrastructure
Lend Lease Public Private Partnerships
Lend Lease Apartment
Lend Lease Venture Capital
Lend Lease Retirement
Websitewww.lendlease.com

Lendlease Group is a multinational property and infrastructure company headquartered in Sydney, Australia.

History

The company was established by Dick Dusseldorp [3] to provide finance for building contracts being undertaken by Civil and Civic. In 1961 the company acquired Civil and Civic from Bredero's Bouwbedrijf. [citation needed]

In 1999 the company formed Actus Lend Lease with the acquisition of Actus Corporation's MILCON[4] and technical service construction management business, and augmented this business with professionals from Lend Lease Design and Lend Lease Development. Also in 1999 the Company acquired Bovis from P&O, which now forms Lend Lease Project Management & Construction.[5] Then in 2000 it bought AMRESCO's commercial mortgage business[6] In 2001, Lend Lease acquired Delfin Property Group (now Lend Lease Communities) for $172 million.[7] It went on to buy Crosby Homes[4] (now Lend Lease Residential Development) for circa £240 million in 2005.

In 2005 the company moved its headquarters from Australia Square in Sydney to The Bond on Hickson Road. [citation needed]

In 2009, Lend Lease Corporation acquired Babcock and Brown Communities,[8] rebranding the business as Lend Lease Primelife. At the time, this acquisition made Lend Lease Australia's largest provider of retirement villages.[9][10]

In 2010, Lend Lease announced their first foray into the consumer market with Lend Lease Solar.[8] The subsidiary was wound up in early 2011, with no explanation as to why the division had closed.[11]

As of 17 Feb 2011 Lend Lease announced wider ranging changes to its group of brands. This announcement means the retirement of the Bovis, Delfin, Vivas, Catalyst and Primelife brands which will now referred to using the unified Lend Lease brand.[12]

In late February 2011, Lend Lease acquired DASCO in order to position itself to take advantage of the impending Obama administration Health sector boom. The company was immediately rebranded as Lend Lease DASCO, and operates independently of the Lend Lease Americas business.

In March 2011, Lend Lease completed the acquisition of Valemus Group[4] (previously known as Bilfinger Berger Australia) from Bilfinger Berger Group, subsidiaries of Valemus include: Abigroup, Baulderstone and Conneq (formerly Bilfinger Berger Services). The Valemus brand was retired and replaced with Lend Lease in 2011.[13]

In late 2012, the Victorian Government instituted a ban on Lend Lease to tender for Government work, due to laws to prohibit "friendly deals" between building contractors and trade unions.[14]

Development Management

Americas

Soaring Heights at Davis-Monthan AFB, Tucson, Arizona, USA

Soaring Heights is one of Lend Lease’s Public Partnerships business in the US. The 6 MW solar development at Soaring Heights Communities LLC is the largest solar powered community in the continental U.S., producing more than 10 million kilowatt hours of electricity, providing an estimated 75 percent of the community’s energy needs.[15]

Operations

The company operates in more than 40 countries around the world.[8] In all of these, the Lend Lease Project Management & Construction division constructs and manages large building projects. The company runs additional businesses in certain markets, including apartment development, greenfield residential development, investment management of unlisted property funds, property management, Real Estate sales and leasing, Public Private Partnerships, Infrastructure Development and Venture Capital investment in innovative technologies. Some operation projects are these:

  • Lend Lease Investment Management is the largest developer of public-private defence housing in the United States. The company also owns retail assets throughout the US.
  • Lend Lease Project Management & Construction (previously Bovis Lend Lease) was the major contractor for the Ground Zero Memorial in New York,[16] in addition to a number of other major public buildings throughout the US.
  • Lend Lease Dasco is a United States leader in the development, financing, leasing and management of medical office buildings and outpatient facilities. Lend Lease specialised exclusively in the development of medical real estate for more than 23 years, has developed more than 3.8 million square feet, acquired 1.5 million square feet and currently manages more than 2.0 million square feet of medical office space.[17]
  • Lend Lease Project Management & Construction (previously Bovis Lend Lease) constructs significant retail and mixed use projects for Lend Lease's Investment Management Business, and Lend Lease's Development Business as well as working for external third party clients. Post Construction, Lend Lease's Retail Business manage the day-to-day operations of retail assets. In Asia, Lend Lease operations throughout Singapore, Malaysia, China, and Japan. Projects and assets include the construction of the Petronas Towers.[18]
  • Lend Lease Development – Concentrates on large scale urban regeneration in key areas. Currently, the group has secured significant urban regeneration projects in Sydney at Barangaroo South,[19] in Melbourne at Docklands, Victoria,[20] in Brisbane at the RNA Showgrounds[21] – The Green, and around Adelaide's Adelaide Oval.
  • Lend Lease Communities (previously Delfin Lend Lease) falls within Lend Lease Development, and is Australia's largest developer of Master Planned Communities. One of Lend Lease's more controversial Communities projects is their development for housing and industry of the former Australian Defence Industries (ADI) land at St Marys (Ropes Crossing & Jordan Springs)[22] in Western Sydney. Their ADI property is the largest intact area of the biodiverse and endangered plant community, the "Cumberland Plain Woodland". Some of the group's major Communities projects include Springfield Lakes, Queensland,[23] Caroline Springs, Victoria,[24] Alkimos, Western Australia[25] and Mawson Lakes, South Australia[26]
  • Lend Lease Project Management & Construction (previously Bovis Lend Lease), now known as Lendlease Building, operates across Australia both for internal Lend Lease businesses and external clients. The Project Management & Construction Business was previously known as Civil & Civic and was successful in constructing Australia's first 5 star as built (The Bond, Sydney – Lend Lease's Global Headquarters) and 6 star as built (The Gauge Melbourne) commercial buildings. The Project Management & Construction Business has undertaken a range of significant and iconic buildings including Queensland Gallery of Modern Art, Royal Children's Hospital, Gold Coast University Hospital, ANZ Centre, Aurora Tower (Brisbane), Aurora Place (Sydney) & Sunshine Plaza (Sunshine Coast).
  • Lend Lease Retirement[27] (previously Retirement by Design and Primelife) operates Retirement Living,[27] Serviced Apartments[28] and Aged Care[29] living options across the country. In addition, Lend Lease's Retirement[10] Business is Australia's largest retirement communities developer.[30]
  • Lend Lease Investment Management owns and operates built form investments on behalf of the group and various unlisted fund investors. The business manages a number of major retain centre including Cairns Central, Sunshine Plaza, Lakeside Joondalup, Mid City Centre, and Greensborough Plaza. The Group also manages investment portfolios which include part of the Central Plaza Complex in Brisbane, and other a-grade office, retail, industrial and community development sites around the country.
  • Lend Lease Infrastructure (previously both Valemus and Bilfinger Berger Australia) is the second largest construction and engineering specialist business in Australia.[31]

Major projects undertaken by Lend Lease Infrastructure to date include:

AP-X expansion

In 2013 Lend Lease was criticized for their involvement in proposals to enlarge a coal port terminal on the edge of the Great Barrier Reef. Proposals included dredging and the dumping of material in the sea.[45] Bloomberg reported in February 2014 that Lend Lease did not take part in the planned expansion after a mandate for the project lapsed.[46]

Reception

In 2015 Lend Lease was recognized for commitment in sustainable real estate practices for retail and office developments.[47]

References

  1. ^ a b "Lend Lease : Annual Report 2016". Phx.corporate-ir.net. Retrieved 28 February 2015.
  2. ^ "Fast Facts". Lend Lease. 30 June 2013. Retrieved 28 February 2015.
  3. ^ "Company chief who delivered in spades for clients, shareholders". Sydney Morning Herald. Retrieved 6 October 2015.
  4. ^ a b c "History and Achievements". Lend Lease. Retrieved 28 February 2015.
  5. ^ Rogers, David (23 February 2009). "Lend Lease offers Olympic work to Bovis rivals | Online News". Building. Retrieved 28 February 2015.
  6. ^ "Lend Lease completes purchase of AMRESCO mortgage holdings. – Free Online Library". Thefreelibrary.com. Retrieved 28 February 2015.
  7. ^ "Lend Lease". Lend Lease. Retrieved 28 February 2015.
  8. ^ a b c "About". Lend Lease. Retrieved 21 April 2014.
  9. ^ "Retirement Living". Lend Lease. Retrieved 21 April 2014.
  10. ^ a b "Retirement Living – Retirement Villages, Retirement Apartments, Retirement Units & Serviced Apartments | Lend Lease". Lendleaseseniorliving.com.au. 19 April 2004. Retrieved 21 April 2014.
  11. ^ "Lend Lease – Contacts". Lendleasesolar.com.au. 30 June 2013. Retrieved 28 February 2015.
  12. ^ "Lend Lease to drop Bovis name Ι Construction Enquirer". Constructionenquirer.com. Retrieved 21 April 2014.
  13. ^ "Media Releases". Archived from the original on 17 March 2012. Retrieved 10 January 2011. {{cite web}}: Unknown parameter |deadurl= ignored (|url-status= suggested) (help)
  14. ^ Ben Schneiders. "Baillieu slaps ban on Lend Lease". Theage.com.au. Retrieved 28 February 2015.
  15. ^ Coggan, Jamie L. "Davis-Monthan to House Air Force's Largest Stateside Solar-Power Community". Davis-Monthan Air Force Base. Davis-Monthan Air Force Base. Retrieved 16 November 2015.
  16. ^ "National September 11 Memorial and Museum". Lend Lease. 11 September 2001. Retrieved 21 April 2014.
  17. ^ "Lend Lease – Healthcare Development". Dascomed.com. Retrieved 21 April 2014.
  18. ^ "The Kuala Lumpur City Centre". Lend Lease. Retrieved 21 April 2014.
  19. ^ "Barangaroo South". Lend Lease. Retrieved 21 April 2014.
  20. ^ [1] [dead link‍]
  21. ^ "ShowgroundHill". Lend Lease. Retrieved 21 April 2014.
  22. ^ "Jordan Springs". Lend Lease. Retrieved 21 April 2014.
  23. ^ "Springfield Lakes". Lend Lease. Retrieved 21 April 2014.
  24. ^ "Caroline Springs". Lend Lease. Retrieved 21 April 2014.
  25. ^ "Projects". Lend Lease. Retrieved 21 April 2014.
  26. ^ "Mawson Lakes". Lend Lease. Retrieved 21 April 2014.
  27. ^ a b "Retirement Living – Retirement Villages, Retirement Apartments, Retirement Units & Serviced Apartments | Lend Lease". Lendleaseseniorliving.com.au. 19 April 2004. Retrieved 21 April 2014.
  28. ^ "Retirement Villages | Lend Lease". Lendleaseseniorliving.com.au. Retrieved 21 April 2014.
  29. ^ "Aged Care | Allity". Lendleaseseniorliving.com.au. Retrieved 21 April 2014.
  30. ^ "Retirement Living – Retirement Villages, Retirement Apartments, Retirement Units & Serviced Apartments | Lend Lease". Lendleaseseniorliving.com.au. 19 April 2004. Retrieved 21 April 2014.
  31. ^ "Valemus float slugged by market falls". The Sydney Morning Herald. 8 June 2010. Retrieved 9 June 2010.
  32. ^ [2] Archived 21 March 2012 at the Wayback Machine
  33. ^ "Sydney Opera House". Baulderstone.com.au. 20 October 1973. Retrieved 21 April 2014.
  34. ^ "Anzac Bridge Sydney". Lend Lease. Retrieved 21 April 2014.
  35. ^ ANZAC Bridge at Structurae
  36. ^ "Australasian Tunnelling Society". Ats.org.au. Retrieved 28 February 2015.
  37. ^ [3] Archived 10 June 2010 at the Wayback Machine
  38. ^ [4] Archived 6 July 2011 at the Wayback Machine
  39. ^ "Gateway Bridge Brisbane". Lend Lease. Retrieved 21 April 2014.
  40. ^ "Brisbane's new Gateway Bridge progressing – KHL Group". Khl.com. Retrieved 28 February 2015.
  41. ^ [5] Archived 13 February 2011 at the Wayback Machine
  42. ^ "Army taps Lend Lease, IHG for privatization". Hotel News Now. Retrieved 24 April 2014.
  43. ^ [6] Archived 22 March 2012 at the Wayback Machine
  44. ^ "Bluewater". Lend Lease. 16 March 1999. Retrieved 21 April 2014.
  45. ^ "Environmental activists target Lend Lease meeting over reef". Sunshine Coast Daily. 15 November 2013. Retrieved 21 April 2014.
  46. ^ Behrmann, Elisabeth (26 February 2014). "Australia Coal Port Expansion Mandate Lapsed, Lend Lease Says". Bloomberg. Retrieved 18 November 2015.
  47. ^ "Australia leads the world in sustainable real estate practices". Climate Control News. Retrieved 16 September 2015.
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