1.1 Company Overview
‘The Bond’, as the edifice is well-known in Australia, is Australia's foremost office building to get genuine results in commercial, environmental, and social sustainability, meeting world’s best practice ( Australian Institute of Architect). It was built by a pioneer real estate business group Lend Lease Group which was established in 1951 in Australia as Civil & Civic. Lend Lease Corporation was formed in 1958 and listed in the Australian Stock Exchange in the same year (Case study 16). Lend Lease Group (officially Lend Lease Corporation Limited, LLC) is a vertically integrated real estate solutions provider group established by Dick Dusseldorp in Australia in 1958 and headquartered in Sydney (1.investsmart). Lend Lease is a primary global real estate and infrastructure group. Its major business deeds are focused on the construction, management and development of both public and private enterprises real estate assets. (2.lend lease). Lend Lease imparts broad array of services for example retail service, design and construction, environmental consulting services, construction management, building structural design, architecture and urban design (3.BBR). Lend Lease also copes and invests equity in public private partnership projects and takes on green-field development and a huge level of urban regeneration projects (3.BBR). Lend Lease has its own strategic focus and at present LLC is focused on communication and implementation of its key projects, thriving incorporation of the infrastructure sector in Australia, efficient portfolio management and positioning of its international establishments for market repossession (2).
Lend Lease’s activities are focused on four major regions: Australia, Asia, Europe and the Americas even though the group operates in over 40 countries. Lend Lease manoeuvres a provincial management structure determined on these four main geographic regions (2). Furthermore, the group has four lines of business that function in these four geographic regions, as follows: 1. The Development business
This business functions in all four geographic regions. This business is basically focussed in the establishment of sophisticated metropolitan communities, metropolitan mixed-use developments, retail and the old-aged living, aged care sector, apartments etc.
2. The Construction business
This business provides engineering, project management and construction services and operates in all four major geographic regions.
3. The Investment Management business
This business functions in Asia, Europe and Australia provides real estate investment management, retail property management and asset management services. Through investments in the Group administered finances, this business includes the Group’s ownership interests in property investments controlled directly or indirectly.
4. The Infrastructure Development business
This business oversees and invests in Public Private Partnership (PPP) projects which functions in Australia, Europe and the Americas. (2)
Lend Lease states that it is dedicated to meeting the social, cultural and environmental demands of communities around the world to create complete, sustainable communities. The organisation has created an environmentally sustainable development process (ESD), which seeks to deliver ongoing economic, environmental and social benefits to all stakeholders. This is communicated on the company web-site through the following points:
1. Establish ESD performance targets for project in consultation with stakeholders - owners, community, authorities, and experts - relative to local and national concerns. 2. Formulate management strategy and performance criteria to ensure delivery against the targets. 3. Implement technical modelling and life cycle assessment to confirm performance. 4. Document design solutions and support the building process through...