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| Type | Public (ASX:LLC) |
|---|---|
| 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 | $14.282 billion AUD (2007) |
| Net income | $500.2 million AUD (2007) |
| Employees | 10,817 (2007) |
| 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. It was formed in 1951 as "Civil and Civic contractors", an Australian subsidiary of the Dutch building company Bredero's. The present corporate structure began in 1988 with a listing on the Australian Stock Exchange and a change to the current name; Civil and Civic retained a large stake in the new, floated corporation, but was bought out by Lend Lease itself in 1961.
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. Amongst its many commercial projects, the company has been involved in the construction of major public buildings such as the Sydney Opera House and Melbourne Park, and is currently involved in an alliance of companies building the Sydney desalination pipeline. 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.
Lend Lease has just over 11,485 employees worldwide. It made an after-tax operating profit of A$262.8 million as at December 31, 2007, and has a market capitalisation of about $6.9 billion (up from $4.1 billion in 2003-04), and currently has over A$91 billion of global real estate assets that it manages. (sources -www.lendlease.com & Robbins, S. Bergman, R. Stagg, I. Coulter, M. Foundations of Management: 2nd Edition. (2006). Pearson Education Australia. NSW {pg 255-256})
In early 2005, Lend Lease moved its headquarters from Sydney's Australia Square, which had been built by the corporation, to The Bond located on Hickson Road, Millers Point. The building was designed to be environmentally friendly and has been awarded a five-star energy rating – the first in Australia. Its offices do not have air conditioning but instead have a chill beam cooling system whereby cold water runs through pipes that in turn keep the temperature cool and constant throughout the year. Even the taps in the toilets have had their pressure reduced to reduce water wastage. The modern kitchens feature a compost bin which is emptied to the worm farm on the roof of the building and the plants introduced to the office environment have been specifically chosen to keep the air cleaner.
See also
External links
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This article needs references that appear in reliable third-party publications. Primary sources or sources affiliated with the subject are generally not sufficient for a Wikipedia article. Please add more appropriate citations from reliable sources. (December 2006) |
- Lend Lease corporate site - source of most material for this article
- Bovis Lend Lease corporate site
- Actus Lend Lease corporate site
- Delfin Lend Lease corporate site
- Lend Lease Development corporate site
- Lend Lease Shopping Centres corporate site
- Lend Lease Pharmaceuticals corporate site
- Lend Lease Prime Life corporate site
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