Lend Lease Corporation Case Study

Lend Lease Corporation

I. Time Context

* 1950s

Lend Lease is born out of Civil & Civic, a construction business founded by Dutch immigrant Dick Dusseldorp.

* Dick (Duss) Dusseldorp visits Australia to assess opportunities for Bredero’s, a large Dutch building company

* Lend Lease Corporation forms in 1958 with Civil & Civic as largest shareholder

* Duss brokers a productivity agreement with the Building Trades’ Union in NSW and ACT

* Stage one of the Sydney Opera House contract is won

* 1960s

Lend Lease establishes itself as a progressive employer by introducing superannuation for staff, 20 years before becoming industry practice

* Lend Lease acquires Civil & Civic from Bredero’s

* Operations expand around Australia, and commence in New Zealand

* ‘Australia Square’ opens, the country’s first lightweight concrete building

* 1970s

Lend Lease launches operations in Singapore and the US, and continues to lead the way in employee benefits

* Profit share is introduced for Australian employees

* Annual revenue exceeds $300m

* GPT is formed, one of the first, and largest diversified property trusts in Australia

* The A$100m Sydney landmark ‘MLC Centre’ opens

* Formation of Prime Property Fund, one of the first commingled real estate accounts for US pension funds

* 1980s

As the founder retires, Lend Lease is celebrated as one of Australia’s leading blue chip companies, and continues to set the benchmark in employee benefits

* Duss receives the Order of Australia for his contributions to employee and industrial relations

* APPF is formed, one of the nation’s leading unlisted wholesale property funds

* ACTU/Lend Lease Foundation is set up to encourage people to acquire skills

* MLC celebrates its centenary, and becomes a wholly owned Lend Lease subsidiary

* Equal Opportunity Management programs, Lend Lease Youth Council and Lend Lease...