Lendlease Group

Last updated

Lendlease Corporation Limited
Public
Traded as ASX:  LLC
IndustryConstruction, Infrastructure and Real estate
Founded1958;61 years ago (1958) (Sydney)
Headquarters Barangaroo, Sydney, 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.
RevenueIncrease2.svg $15,088.5 million (2016) [1]
Increase2.svg$758.6 million (2017) [1]
Number of employees
Over 11,000 (2016) [2]
Subsidiaries Lendlease Investment Management
Lend Lease Project Management & Construction
Lend Lease Residential Development
Lend Lease Communities
Lendlease Development
Lend Lease Infrastructure
Lendlease Public Private Partnerships
Lendlease Apartment
Lendlease Venture Capital
Lend Lease Retirement Living
Website www.lendlease.com

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

Multinational corporation Corporation operating in multiple countries

A multinational corporation (MNC) or worldwide enterprise is a corporate organization that owns or controls production of goods or services in at least one country other than its home country. Black's Law Dictionary suggests that a company or group should be considered a multinational corporation if it derives 25% or more of its revenue from out-of-home-country operations. A multinational corporation can also be referred to as a multinational enterprise (MNE), a transnational enterprise (TNE), a transnational corporation (TNC), an international corporation, or a stateless corporation. There are subtle but real differences between these three labels, as well as multinational corporation and worldwide enterprise.

Barangaroo, New South Wales Suburb of Sydney, New South Wales, Australia

Barangaroo is an inner-city suburb of Sydney, New South Wales, Australia. It is located on the north-western edge of the Sydney central business district and the southern end of the Sydney Harbour Bridge. It is part of the local government area of the City of Sydney, and was part of the territory of the Cadigal people, the traditional owners of the Sydney city region. The area was used for fishing and hunting by Indigenous Australians prior to colonial settlement. The area is inclusive of The Hungry Mile, the name harbourside workers gave to the docklands area of Darling Harbour East during The Great Depression, where workers would walk from wharf to wharf in search of a job, often failing to find one.

Sydney Metropolis in Australia

Sydney is the state capital of New South Wales and the most populous city in Australia and Oceania. Located on Australia's east coast, the metropolis surrounds Port Jackson and extends about 70 km (43.5 mi) on its periphery towards the Blue Mountains to the west, Hawkesbury to the north, the Royal National Park to the south and Macarthur to the south-west. Sydney is made up of 658 suburbs, 40 local government areas and 15 contiguous regions. Residents of the city are known as "Sydneysiders". As of June 2017, Sydney's estimated metropolitan population was 5,230,330 and is home to approximately 65% of the state's population.

Contents

History

The company was established by Dick Dusseldorp [3] 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. [4]

Gerardus Jozef Dusseldorp 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.

Civil and Civic

Civil and Civic was an Australian company acquired in 1961 by Lend Lease Corporation.

In 1970 Lendlease expanded their operations into America, and in 1983 Lendlease created 'The Lendlease Foundation', their charitable arm to improve communication with and help in communities, as well as caring for both community and employee well-being. [5]

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 Lendlease Design and Lendlease Development. [6]

Also in 1999 the Company acquired Bovis from P&O, which now forms Lend Lease Project Management & Construction. [7] Then in 2000 it bought AMRESCO's commercial mortgage business [8] In 2001, Lend Lease acquired Delfin Property Group (now Lend Lease Communities) for $172 million. [9] It went on to buy Crosby Homes [6] (now Lend Lease Residential Development) for circa £240 million in 2005. [10]

Lend Lease Project Management & Construction international project management and construction division

Lendlease Project Management & Construction is the international project management and construction division of Lendlease Group.

Amresco was the new name given to "Financial Resource Management, Inc.", a subsidiary of the NCNB Texas National Bank in 1992.

Lend Lease Communities

Lend Lease Communities is the arm of property and infrastructure company Lend Lease Corporation that is responsible for building new urban residential developments.

In 2009, the groups current CEO and Managing Director, Steve Mccann, was appointed. [11]

In 2009, Lend Lease Corporation acquired Babcock and Brown Communities, [12] rebranding the business as Lend Lease Primelife. At the time, this acquisition made Lend Lease Australia's largest provider of retirement villages. [13] [14]

In 2010, Lend Lease announced their first foray into the consumer market with Lend Lease Solar. [12] The subsidiary was wound up in early 2011, with no explanation as to why the division had closed. [15]

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. [16]

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. [17]

In March 2011, Lend Lease completed the acquisition of Valemus Group [6] (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. [18]

Regions

In December 2016 Lendlease formed a joint venture agreement with Energy Made Clean. Energy Made Clean is a wholly owned subsidiary of renewable energy technology developer, Carnegie Clean Energy (ASX: CCE). With EMC and Carnegie's joint offerings, it is the only company in the world to offer a combination of wave, solar, wind, storage and desalination via microgrids. Microgrid's are a budding industry and this partnership aims to provide end-to-end technologies that deliver energy independence and a reliable alternative to traditional forms of energy in regional, remote and fringe-of-grid locations in Australia, United States and around the world.

Previous works include the Adelaide Oval upgrade finished in 2014, and the Sydney Opera House, completed in 1973 where Lendlease were the principal contractor.

Asia

Lendlease Asia is working on two large urban development projects, The TRX Lifestyle Quarter in Kuala Lumpur, Malaysia, and Paya Lebar Quarter in Singapore, due for phased completion in 2020 and 2019 respectively.

Lendlease operates in Singapore, Malaysia, Japan and Greater China within the Asian Region. Its regional HQ in Asia is housed within PLQ Workplace at Paya Lebar Quarter.

Americas

In the Americas, Lendlease are based on Park Ave in New York City, United States. Current Projects include Project Southbank, an urban regeneration of an area of Chicago, IL. [19] The development will be finished in the late 2020s, similar to the urban regeneration programmes in the U.K and Australia.

Lendlease built the western hemisphere's tallest residential tower, standing at 425m tall. 432 Park Avenue, NY.jpg
Lendlease built the western hemisphere's tallest residential tower, standing at 425m tall.

Lendlease also managed the construction of 432 Park Avenue. At 1,396 feet tall, the structure is the tallest residential building in the Western Hemisphere. Located in one of New York City's most desired neighborhoods, alongside some of the most prestigious retail space in New York.

They also provided preconstruction and construction management at risk services for 53 West 53rd Street, a 77-story, 1,050 foot tall luxury condominium tower located in the area bound by 53rd Street and 54th Street and 5th and 6th Avenues. [20]

They have also built for clients such as The United Nations, building the 44-story 50 United Nations Plaza in 2015 and managing a new façade at The American Museum of Natural History, finishing in 2013.

In 2012 Lendlease began construction on their first luxury home in an attempt to get into the high-end Southern California mansion market. [21] [22]

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

Soaring Heights is one of Lendlease's Public Partnerships business in the US. The 6 MW solar development is the largest solar powered community in the continental US, producing more than 10 million kilowatt hours of electricity, providing an estimated 75 percent of the community's energy needs. [23]

Europe

Lendlease oversaw the restoration of the encaustic tile pavements at Palace of Westminster in 2015. Palace of Westminster, London - Feb 2007.jpg
Lendlease oversaw the restoration of the encaustic tile pavements at Palace of Westminster in 2015.

Lendlease's European Regional Headquarters is in Regent's Place, London. In Europe, Lendlease mainly manage in the Project Management and Construction of new projects and programmes (Lendlease Project Management & Construction), with current projects including Google's brand new £700m European HQ in King's Cross, and London's first Pan Pacific Hotel for UOL Group in the City of London, which is worth over £500m. In 2015 Lendlease oversaw the restoration of the encaustic tile pavements at The Houses of Parliament. [24]

Previous projects in Europe include Bluewater Shopping Centre, which was built in an old disused quarry and was the Europe's leading shopping centre in the late 2000s. King's College London's new science gallery and also completed the pre-construction for both London's Wembley Stadium and Cardiff's Millennium Stadium, but pulled out due to fears of escalating costs. They also completed apartments and the £1bn Athlete's Village for the London 2012 Olympics, which were ingenuously designed to become residential apartments once the Olympics had finished. This has turned into continued investment in Stratford through the International Quarter London, a 20-year development focussed on regenerating Stratford [25] into a major area of London, which is all part of London 2012 Olympics's Olympic Legacy. This is the same with Elephant & Castle and Haringey, showing their focus and interest in major urban regeneration programmes [25] in some of the World's major Gateway Cities, [25] which currently include London, [25] Melbourne, [25] Sydney [25] and Milan.

Operations

The Lendlease Tower in Townsville City, Australia LendLease Tower in Townsville.jpg
The Lendlease Tower in Townsville City, Australia

The company operates in more than 40 countries around the world. [12] 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:

Lendlease manages 3 retail assets in Singapore (Parkway Parade, 313@somerset & Jem) and 1 retail asset in Malaysia (Setia City Mall).

Adelaide Oval Redevelopment, finished in 2014 Adelaide Oval, 2014.jpg
Adelaide Oval Redevelopment, finished in 2014
Bluewater Shopping Centre in Kent, finished in 1999. Bluewater Shopping Centre, Kent, England Crop - April 2009.jpg
Bluewater Shopping Centre in Kent, finished in 1999.

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Westfield Group Australian shopping centre group

Westfield Group was an Australian shopping centre company that existed from 1960 to 2014, when it split into two independent companies: Scentre Group, which now owns and operates the Australian and New Zealand Westfield shopping centre portfolio; and Westfield Corporation, which continued to own and operate the American and European center portfolio.

Bluewater (shopping centre) shopping center in Greenhithe, Kent, England

Bluewater Shopping Centre is an out-of-town shopping centre in Stone, Kent, England, outside the M25 Orbital motorway, 17.8 miles (28.6 km) east south-east of London's centre. Opened on 16 March 1999 in a former chalk quarry after ten years of building works, the site including car parks occupies 240 acres (97 ha) and has a sales floor area of 154,000 m2 (1,600,000 ft2) over three levels, making it the fifth-largest shopping centre in the UK. Elsewhere in Europe only Istanbul's Cevahir Mall and Vienna's (Vösendorf) Shopping City Süd are bigger. The floor plan is a triangular shape with 330 stores, including 3 anchors, 40 cafés and restaurants, and a 17-screen cinema. The centre employs 7,000 people and serves over 27 million visitors a year. A main rival is the Lakeside Shopping Centre and its two retail parks by road 8 miles (13 km) away in West Thurrock, Essex, just across the River Thames or 3.2 miles (5.1 km) point-to-point.

The West Northamptonshire Development Corporation (WNDC) is an urban Development Corporation set up to cover parts of Northamptonshire in England, by the United Kingdom government in December 2004. WNDC was set up by the Secretary of State under the provisions of the Local Government Planning and Land Act 1980 and has an explicit objective "to secure the regeneration of its area". The Act provides that it may do so in a number of different ways including making decisions on planning applications. It is one of three existing urban development corporations in the United Kingdom and the only one outside London.

Lend Lease Retirement Living

Lend Lease Retirement Living is part of the Lend Lease Group.

Lend Lease Residential Development is the British residential development division of the Australia-based global property developer Lend Lease.

Sir Frank William Lampl was a Czech-British businessman. He was Life President of Bovis Lend Lease, the leading global construction management company that he created from the British building firm Bovis during a 15-year period as Chairman and CEO.

Mace Group Ltd, commonly known as Mace, is a global consultancy and construction firm headquartered in London, United Kingdom, employing approximately 5,000 people, across five continents with a turnover in excess of £2bn.

Countryside Properties

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Tun Razak Exchange Neighborhood of Kuala Lumpur in Kuala Lumpur, Malaysia

The Tun Razak Exchange, TRX(previously known as Kuala Lumpur International Financial District or KLIFD) is a 70-acre development by 1Malaysia Development Berhad (1MDB) in the heart of Kuala Lumpur for international finance and business. TRX is a strategic enabler of the Malaysian government's Economic Transformation Programme (ETP).

BIW Technologies (BIW) was a privately held British company providing web-based electronic construction collaboration technologies, to customers in the construction and property sectors. It was acquired by a German company, Conject, in December 2010, and adopted its parent company's branding in April 2012. In March 2016, the Conject group was acquired by Australia-based rival, Aconex.

M J Gleeson

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Yarrabilba, Queensland Suburb of Logan City, Queensland, Australia

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Nahid Majid, OBE is a Bangladeshi-born British Civil servant, chief operating officer for Regeneration Investment Organisation at UK Trade & Investment, Deputy Director within the Department for Work and Pensions and former urban planner. She is currently the most senior British Bangladeshi Muslim woman in the civil service.

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33 Tehama

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References

  1. 1 2 "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. ↑ "Civil and Civic (1951 - )". Encyclopedia of Australia Science. Retrieved 7 April 2018.
  5. ↑ "Lendlease – Paying it forward with the ASVB". ASVB. 11 December 2017. Retrieved 7 April 2018.
  6. 1 2 3 "History and Achievements". Lend Lease. Retrieved 28 February 2015.
  7. ↑ Rogers, David (23 February 2009). "Lend Lease offers Olympic work to Bovis rivals | Online News". Building. Retrieved 28 February 2015.
  8. ↑ "Lend Lease completes purchase of AMRESCO mortgage holdings. – Free Online Library". Thefreelibrary.com. Retrieved 28 February 2015.
  9. ↑ "Lend Lease". Lend Lease. Retrieved 28 February 2015.
  10. ↑ Crosby Homes chiefs in line for £25m from sale to Lend Lease The Times, 24 June 2005
  11. ↑ "Lend Lease appoints Steve McCann as CEO". News.com. 2 October 2009. Retrieved 7 April 2018.
  12. 1 2 3 "About". Lend Lease. Archived from the original on 3 February 2012. Retrieved 21 April 2014.
  13. ↑ "Retirement Living". Lend Lease. Archived from the original on 27 January 2013. Retrieved 21 April 2014.
  14. ↑ "Retirement Living – Retirement Villages, Retirement Apartments, Retirement Units & Serviced Apartments | Lend Lease". Lendleaseseniorliving.com.au. 19 April 2004. Retrieved 21 April 2014.
  15. ↑ "Lend Lease – Contacts". Lendleasesolar.com.au. 30 June 2013. Retrieved 28 February 2015.
  16. ↑ "Lend Lease to drop Bovis name Ι Construction Enquirer". Constructionenquirer.com. Retrieved 21 April 2014.
  17. ↑ "Lend Lease to Acquire Healthcare Developer DASCO". PR Newswire. 23 February 2011. Retrieved 7 April 2018.
  18. ↑ "Media Releases". Archived from the original on 31 December 2012. Retrieved 10 January 2011.
  19. ↑ "South Loop 'Riverline' mega-project breaks ground". Curbed Chicago. Retrieved 28 February 2018.
  20. ↑ "53W53". Lendlease Group. Retrieved 31 May 2019.
  21. ↑ "When a Mega-Mansion Runs Over Budget". The New York Times. 30 March 2018. ISSN   0362-4331 . Retrieved 16 May 2018.
  22. ↑ "When building a megamansion goes wayyy over budget". The Real Deal Los Angeles. 1 April 2018. Retrieved 16 May 2018.
  23. ↑ 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. Archived from the original on 17 November 2015. Retrieved 16 November 2015.
  24. ↑ http://www.lendlease.com/uk/projects/houses-of-parliament/?id=ed780d41-bd17-421f-92b3-3022ded36a25
  25. 1 2 3 4 5 6 7 "City & Urban Regeneration, Development & Renewal Projects". www.lendlease.com. Retrieved 10 August 2017.
  26. ↑ "National September 11 Memorial and Museum". Lend Lease. 11 September 2001. Archived from the original on 21 March 2012. Retrieved 21 April 2014.
  27. ↑ "Lend Lease – Healthcare Development". Dascomed.com. Archived from the original on 2 April 2012. Retrieved 21 April 2014.
  28. ↑ "The Kuala Lumpur City Centre". Lend Lease. Archived from the original on 21 March 2012. Retrieved 21 April 2014.
  29. ↑ "Barangaroo South". Lend Lease. Archived from the original on 22 March 2012. Retrieved 21 April 2014.
  30. ↑ [1] [ dead link ]
  31. ↑ "ShowgroundHill". Lend Lease. Archived from the original on 22 March 2012. Retrieved 21 April 2014.
  32. ↑ "West Grove". www.homesbylendlease.co.uk. Retrieved 10 August 2017.
  33. ↑ "Jordan Springs". Lend Lease. Archived from the original on 21 March 2012. Retrieved 21 April 2014.
  34. ↑ "Springfield Lakes". Lend Lease. Archived from the original on 21 March 2012. Retrieved 21 April 2014.
  35. ↑ [5] Archived 13 February 2011 at the Wayback Machine
  36. ↑ "Army taps Lend Lease, IHG for privatization". Hotel News Now. Retrieved 24 April 2014.
  37. ↑ [6] Archived 22 March 2012 at the Wayback Machine
  38. ↑ "Bluewater". Lend Lease. 16 March 1999. Archived from the original on 21 March 2012. Retrieved 21 April 2014.
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