Lend Lease Corporation

Infobox_Company
company_name = Lend Lease Corporation Limited
company_| company_type = Public (ASX: [http://www.asx.com.au/asx/research/CompanyInfoSearchResults.jsp?searchBy=asxCode&allinfo=on&asxCode=LLC&companyName=&principalActivity=&industryGroup=NO LLC] )
company_slogan = imagine create
foundation = Sydney, Australia, 1958
location = Sydney, Australia
key_people = David Crawford, Chairman
Greg Clarke, CEO
Tony Brennan, CIO
Steve McCann, CFO

industry = Property Development
num_employees = 10,817 (2007)
subsid = 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
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)
homepage = [http://www.lendlease.com.au/ 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 1958 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 was involved in the construction of major public buildings such as the Sydney Opera House and Melbourne Park. The company runs additional businesses in certain markets:

* In the Asia-Pacific region the company owns the Delfin 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, Lend Lease is involved in the development of defence housing through US government privatisation initiatives in this area.

The current Chief Executive Officer is Greg Clarke, a former head of British telecommunications firm Cable and Wireless who took up the position in December 2002 from David Higgins. 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})

As of November 2004, Lend Lease had made a bid for large Australian property trust General Property Trust.

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.

As of November 2007, Lend Lease had made public announcement of negotiations for acquisition of large Australian property group Mirvac.

ee also

*Shopping property management firms
*Westfield Group
*Stockland
*Centro Properties Group

External links

* [http://www.lendlease.com.au Lend Lease corporate site] - source of most material for this article
* [http://www.bovislendlease.com Bovis Lend Lease corporate site]
* [http://www.actuslendlease.com Actus Lend Lease corporate site]
* [http://www.delfinlendlease.com.au Delfin Lend Lease corporate site]
* [http://lendlease.com.au/llweb/llc/main.nsf/all/ll_dev?opendocument Lend Lease Development corporate site]
* [http://www.lendleaseshopping.com.au Lend Lease Shopping Centres corporate site]
* [http://www.bovislendlease.com/pharmaceutical Lend Lease Pharmaceuticals corporate site]