Lend Lease Corporation
Encyclopedia
Lend Lease Group is a global property and infrastructure company headquartered in Sydney
, Australia
. The Group partners with organisations globally whilst aiming to deliver the next generation of sustainable precincts and property infrastructure solutions.
in 1958 to provide finance for building contracts being undertaken by Civil and Civic
. In 1961 the Company acquired Civil and Civic from Bredero's Bouwbedrijf.
In 1999 the Company formed Actus Lend Lease with the acquisition of Actus Corporation's MILCON 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 its Project Management & Construction division (previously Bovis Lend Lease) from P&O. Then in 2000 it bought AMRESCO's commercial mortgage business In 2001, Lend Lease acquired Delfin Property Group (now Lend Lease Communities) for $172 million. It went on to buy Crosby Homes (now Lend Lease Residential Development) for circa £240 million in 2005.
In 2005 the company moved from its previous premises in Australia Square
in Sydney
to The Bond on Hickson Road.
In 2009, Lend Lease Corporation acquired Babcock and Brown Communities, rebranding the business as Lend Lease Primelife
. At the time, this acquisition made Lend Lease Australia's largest provider of retirement villages.
In 2010, Lend Lease announced their first foray into the consumer market with Lend Lease Solar. The subsidiary was wound up in early 2011, with no explanation as to why the division had closed.
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, Primelife
brands which will now referred to using the unified Lend Lease brand.
In late February 2011, Lend Lease acquired DASCO (now Lend Lease 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
(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.
It is active in the civil engineering, building and property, mining and resources, telecommunications, infrastructure services, engineering services and environmental services industries.
Major projects undertaken by Lend Lease Infrastructure to date include:
Sydney
Sydney is the most populous city in Australia and the state capital of New South Wales. Sydney is located on Australia's south-east coast of the Tasman Sea. As of June 2010, the greater metropolitan area had an approximate population of 4.6 million people...
, Australia
Australia
Australia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...
. The Group partners with organisations globally whilst aiming to deliver the next generation of sustainable precincts and property infrastructure solutions.
History
The Company was established by Dick DusseldorpDick Dusseldorp
Gerardus Jozef Dusseldorp AO was a Dutch engineer and the founder of Civil and Civic, the financing arm of which later emerged as Lend Lease Corporation, one of Australia's largest companies.-Career:...
in 1958 to provide finance for building contracts being undertaken by Civil and Civic
Civil and Civic
Civil and Civic was an Australian company acquired in 1961 by Lend Lease Corporation.-History:...
. In 1961 the Company acquired Civil and Civic from Bredero's Bouwbedrijf.
In 1999 the Company formed Actus Lend Lease with the acquisition of Actus Corporation's MILCON 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 its Project Management & Construction division (previously Bovis Lend Lease) from P&O. Then in 2000 it bought AMRESCO's commercial mortgage business In 2001, Lend Lease acquired Delfin Property Group (now Lend Lease Communities) for $172 million. It went on to buy Crosby Homes (now Lend Lease Residential Development) for circa £240 million in 2005.
In 2005 the company moved from its previous premises in Australia Square
Australia Square
Australia Square is an office and retail complex in the central business district of Sydney, Australia. Its main address is 264 George Street, and the Square is bounded on the northern side by Bond Street, eastern side by Pitt Street and southern side by Curtin Place.The building was designed by...
in Sydney
Sydney
Sydney is the most populous city in Australia and the state capital of New South Wales. Sydney is located on Australia's south-east coast of the Tasman Sea. As of June 2010, the greater metropolitan area had an approximate population of 4.6 million people...
to The Bond on Hickson Road.
In 2009, Lend Lease Corporation acquired Babcock and Brown Communities, rebranding the business as Lend Lease Primelife
Primelife
Lend Lease Retirement is part of the Lend Lease Group....
. At the time, this acquisition made Lend Lease Australia's largest provider of retirement villages.
In 2010, Lend Lease announced their first foray into the consumer market with Lend Lease Solar. The subsidiary was wound up in early 2011, with no explanation as to why the division had closed.
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, Primelife
Primelife
Lend Lease Retirement is part of the Lend Lease Group....
brands which will now referred to using the unified Lend Lease brand.
In late February 2011, Lend Lease acquired DASCO (now Lend Lease 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
Valemus
Lend Lease Infrastructure is the second largest construction and engineering specialist business in Australia and a division of Lend Lease Group....
(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.
Operations
The company operates in more than 40 countries around the world. 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.Australia
- 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 SouthBarangaroo SouthBarangaroo South is an extensive harbourfront site along the western edge of Sydney's Central Business District.The NSW Government is managing the transformation of the entire 22 hectare Barangaroo area while the creation of Barangaroo South - comprising the southern third of the site - is being...
, in Melbourne at Docklands, Victoria, in Brisbane at the RNA Showgrounds - The Green, and around Adelaide's Adelaide OvalAdelaide OvalThe Adelaide Oval is a sports ground in Adelaide, South Australia, located in the parklands between the Central Business District and North Adelaide...
.
- 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 Defense Industries (ADI) land at St Marys (Ropes Crossing & Jordan Springs) 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, QueenslandSpringfield Lakes, QueenslandSpringfield Lakes is a suburb of Ipswich, Queensland, Australia.Springfield Lakes forms part of a 2850 hectare site being Australia’s largest master planned community. .-References:...
, Caroline Springs, VictoriaCaroline Springs, VictoriaCaroline Springs is a suburb in Melbourne, Victoria, Australia located 25 km west from Melbourne's central business district on Kororoit Creek. Its Local Government Area is the Shire of Melton. At the 2006 Census, it had a population of 10,880....
, Alkimos, Western AustraliaAlkimos, Western AustraliaAlkimos is an unpopulated coastal suburb of Perth, Western Australia, located north-northwest of Perth's central business district. It is part of the City of Wanneroo local government area....
and Mawson Lakes, South AustraliaMawson Lakes, South AustraliaMawson Lakes is a suburb and new residential development in the City of Salisbury, Adelaide, with the first land being released in 1998. It has a census area population of 5,246 people. The suburb is located in the northern suburbs of Adelaide around 12 km north of the Central business...
- Lend Lease Project Management & Construction (previously Bovis Lend Lease) 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 ArtQueensland Gallery of Modern ArtThe Queensland Gallery of Modern Art is part of the Queensland Cultural Centre at the South Bank area of South Brisbane. It holds most of Queensland Art Gallery's contemporary works, while also being the joint host to the current Asia-Pacific Triennial of Contemporary Art...
, Royal Children's HospitalRoyal Children's HospitalThe Royal Children's Hospital is a major children's hospital in Melbourne, Australia.As the major paediatric hospital in Victoria, the Royal Children's Hospital and offers a full range of clinical services, tertiary care and health promotion and prevention programs for children and adolescents...
, Gold Coast University HospitalGold Coast University HospitalGold Coast University Hospital is a proposed major health facility for the Gold Coast, Australia, due for completion in December 2012. It involves building a new tertiary hospital on a greenfields site adjacent to the Griffith University Gold Coast campus at a cost of $1.55 billion.Construction...
, ANZ Centre, Aurora TowerAurora TowerAurora Tower is a skyscraper in Brisbane, Queensland, Australia. At 207 metres height, it is Brisbane's second tallest building, and tallest building if measured to roof height, soon to be overtaken by currently under construction Soleil and Infinity. Aurora has 69 storeys comprising four floors of...
(Brisbane), Aurora PlaceAurora PlaceAurora Place is the common name of Renzo Piano's award-winning office tower and residential block on Macquarie Street in Sydney, Australia. Its official name is the RBS Tower building. The 41-storey structure is 218 m high to the top of the spire and 188 m to the roof.The building has an unusual...
(Sydney) & Sunshine PlazaSunshine PlazaSunshine Plaza is a large regional shopping centre located in Maroochydore, Queensland. Major retailers included in the centre are Coles, Woolworths, Myer, Kmart, Target, Homeart, and a 12-screen Birch Carroll & Coyle cinema...
(Sunshine Coast).
- Lend Lease Retirement (previously Retirement by Design and Primelife) operates Retirement Living, Serviced Apartments and Aged Care living options across the country. In addition, Lend Lease's Retirement Business is Australia's largest retirement communities developer.
- 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 CentralCairns CentralCairns Central Shopping Centre in north Queensland, Australia and is Cairns' biggest shopping centre. The centre was opened in late 1997 and is the second multi-story shopping centre in northern Queensland. The shopping centre is built over the Cairns Railway Station, which is incorporated with the...
, Sunshine PlazaSunshine PlazaSunshine Plaza is a large regional shopping centre located in Maroochydore, Queensland. Major retailers included in the centre are Coles, Woolworths, Myer, Kmart, Target, Homeart, and a 12-screen Birch Carroll & Coyle cinema...
, Lakeside Joondalup, Mid City CentreMid City CentreThe Mid City Centre is a recently refurbished small shopping centre located in the heart of the Sydney central business district. Fronting the Pitt Street Mall and George Street, the Mid City Centre is an important link between two of Sydney's premier shopping streets...
, and Greensborough PlazaGreensborough PlazaGreensborough Plaza is a major regional shopping centre, located in Greensborough, Victoria in the north eastern suburbs of Melbourne, Australia.-Early days:...
. The Group also manages investment portfolios which include part of the Central Plaza ComplexCentral Plaza ComplexCentral Plaza 2 was the second of three buildings constructed in the Central Plaza Complex and was completed in 1990. The building is located at 66 Eagle Street in the Central Business District of Brisbane...
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 AustraliaAustraliaAustralia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...
.
It is active in the civil engineering, building and property, mining and resources, telecommunications, infrastructure services, engineering services and environmental services industries.
Major projects undertaken by Lend Lease Infrastructure to date include:
- Sydney Opera HouseSydney Opera HouseThe Sydney Opera House is a multi-venue performing arts centre in the Australian city of Sydney. It was conceived and largely built by Danish architect Jørn Utzon, finally opening in 1973 after a long gestation starting with his competition-winning design in 1957...
- completed in 1973 - Anzac BridgeANZAC BridgeThe ANZAC Bridge or Anzac Bridge , replacing the earlier Glebe Island Bridge, is a large cable-stayed bridge spanning Johnstons Bay between Pyrmont and Glebe Island in proximity to the central business district of Sydney, Australia...
– completed in 1995 - Graham Farmer FreewayGraham Farmer FreewayThe Graham Farmer Freeway is a major part of the metropolitan road infrastructure in Perth, Western Australia. It is long and links Rivervale and East Perth with West Perth, bypassing Perth's central business district...
- completed in 2000 - Kurilpa Bridge - completed in 2009
- Clem Jones Tunnel – completed in 2010
- Gateway Bridge Duplication – due to be completed in 2011
- Lend Lease Public Private Partnerships - utilises a stake in the investment vehicle Capella Capital. Lend Lease provides equity where appropriate for Capella capital projects, with Lend Lease being the preferred developer, builder, project manager, construction contractor on the investment.
Asia
- Lend Lease Project Management & Construction (previously Bovis Lend Lease) constructs significant projects for Lend Lease's Investment Management Business, and Lend Lease's Development Business. 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, Japan & Taiwan. Projects and assets include Petronas Towers (project),
United Kingdom & Ireland
- Lend Lease Investment Management operates and manages assets owned by Lend Lease managed property funds. These include iconic shopping centres such as Bluewater, Touchwood SolihullTouchwoodTouchwood is a shopping centre in Solihull, West Midlands, United Kingdom.-History:Opened in 2001 and costing £110 million to build, the centre was built on the former car parks behind the High Street....
and previously the Overgate CentreOvergate CentreThe Overgate Centre is a shopping centre in Dundee, Scotland. It originally opened in the 1960's but in 1998 work began on demolishing part of the centre before undergoing a complete refurbishment. The centre was formally reopened in 2000. Throughout the building work a number of stores remained...
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.
- Lend Lease Residential Development (previously Crosby Lend Lease) has been designing and constructing homes for over 80 years. The business now focuses primarily on inner city urban regeneration opportunities within the UK. Projects include i-land - Birmingham, Clarence Dock - Leeds, Hungate - York & Potato Wharf - Manchester.
- Lend Lease Project Management & Construction (previously Bovis Lend LeaseBovis Lend LeaseLend Lease Project Management & Construction is the international project management and construction division of Lend Lease Group.-History:...
) has significant history in the UK having originated un the UK in the 1850's as W C Bovis. The Business is constructing the 2012 London Olympic Games Village, amongst other projects such as London's Millenium Dome, The Curve Theatre, Leicester, Media City UK, Royal Festival HallRoyal Festival HallThe Royal Festival Hall is a 2,900-seat concert, dance and talks venue within Southbank Centre in London. It is situated on the South Bank of the River Thames, not far from Hungerford Bridge. It is a Grade I listed building - the first post-war building to become so protected...
& BBC's Scotland HeadquartersBBCThe British Broadcasting Corporation is a British public service broadcaster. Its headquarters is at Broadcasting House in the City of Westminster, London. It is the largest broadcaster in the world, with about 23,000 staff...
Continental Europe & Middle East
- Lend Lease Project Management & Construction (previously Bovis Lend Lease) operates throughout the European Union and the Middle East on various property and infrastructure related construction projects. Lend Lease's projects in this region include the Torino 2006 winter games facility, Durrat al BahrainDurrat Al BahrainDurrat Al Bahrain is the largest artificial island in Bahrain after the Amwaj Islands. The US$6 billion project will consist of a series of 13 large artificial islands, covering an area of over...
, Warsaw Trade TowerWarsaw Trade TowerThe Warsaw Trade Tower is one of the two buildings in Warsaw and in Poland with a height greater than 200 metres. The Warsaw Trade Tower is currently the second tallest building in Poland....
, Prague Ruzyně Airport T2 & Sheremetyevo International Airport T3 MoscowSheremetyevo International AirportSheremetyevo International Airport , is an international airport located in the Moscow Oblast, Russia, north-west of central Moscow. It is a hub for the passenger operations of the Russian international airline Aeroflot, and one of the three major airports serving Moscow along with Domodedovo...
.
Americas
- Lend Lease Investment Management is the largest developmer of defence housing through US government privatisation initiatives in this USA. The company also owns retail assets throughout the USA.
- Lend Lease Project Management & Construction (previously Bovis Lend Lease) was the major contractor for the Ground Zero Memorial in New York, in addition to a number of iconic public buildings throughout the USA.
- 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.
See also
- Australian real estate investment trust
- Shopping property management firms