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Lend Lease Retirement Living

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Lend Lease Retirement
Company typeStrategic Business Unit
IndustryRetirement
Founded1992
HeadquartersMelbourne, Australia
Websitewww.retirementbylendlease.com.au

Lend Lease Retirement is part of the Lend Lease Group.[1]

Lend Lease Retirement constructs, develops, owns and manages retirement villages. Lend Lease Retirement offers pre-sold developments and sells units to prospective residents and manages those facilities for a fee. With over 70 villages, Lend Lease Retirement is the largest developer, owner and operator of retirement villages in Australia and New Zealand. [2]

The business also provides "Independent Living Units" and "Independent Living Apartments"[3] to seniors which provides an independent lifestyle to residents while affording a secure location, companionship through the retirement village community and social activities and 24 hour emergency assistance.[4]


History

The business was originally conducted under the Primelife brand.

On 13 August 2007 the company restructured and changed its name to Babcock and Brown Communities.

In 2010, Babcock and Brown was acquired by Lend Lease, with the business rebranded as Lend Lease Primelife.

In 2011, Lend Lease moved to a single entity platform, with all business units adopting the name Lend Lease for consistency.

In March 2013 the business divested its aged care homes to Allity, a business owned by Australian Aged Care Partners.[5]


Retirement Living in Australia and New Zealand

In Australia, Lend Lease Retirement villages include:

Australian Capital Territory

  • Isabella Gardens, Isabella Plains

New South Wales

  • Annesley Bowral, Bowral
  • Ashton Gardens, East Maitland
  • Brentwood Village, Kincumber
  • Closebourne Village, Morpeth
  • Coastal Waters, Worrowing Heights
  • Glenaeon, Belrose
  • Henry Kendall Gardens, Wyoming
  • Lakeside Retirement Village, Bonnells Bay
  • Little Bay Apartments, Little Bay
  • Lutanda Manor, Pennant Hills
  • Nelsons Grove, Pemulwuy
  • Pittwater Village, Mona Vale
  • Rochford Place, Ropes Crossing

Queensland

  • Allora Gardens, Maroochydore
  • Argyle Gardens, Bundaberg
  • Buderim Gardens, Buderim
  • Carlyle Gardens Mackay, Mount Pleasant
  • Carlyle Gardens Townsville, Condon
  • Eaglemount Retirement Resort, Mackay
  • Hibiscus Bellflower, Sippy Downs
  • Hibiscus Buderim Meadows, Buderim Meadows
  • Hibiscus Chancellor Park, Sippy Downs
  • Hibiscus Nambour, Nambour
  • Hibiscus Noosa Outlook, Tewantin
  • Keperra Sanctuary, Keperra
  • The Gardens On Lindfield, Helensvale
  • The Lakes Bundaberg, Bundaberg North
  • The Terraces, Forest Lake

South Australia

  • Elliot Gardens, Port Elliot
  • Trinity Green, Mawson Lakes
  • Vermont Estate, South Plympton

Victoria

  • Abervale, Grovedale
  • Burwood Terrace, Burwood
  • Caesia Gardens, Caroline Springs
  • Camberwell Green, Camberwell
  • Evelyn Ridge, Mount Evelyn
  • Fiddlers Green, Berwick
  • Forest Hills, Nunawading
  • Goodwin Close, Blackburn
  • Heathglen, Werribee
  • Highvale, Glen Waverley
  • Koorootang Court, Mount Martha
  • Lexington Gardens, Springvale
  • Martha's Point, Mount Martha
  • Meadowvale, Pakenham
  • Peppertree Hill, Rowville
  • Port Phillip Village, Altona
  • Tannoch Brae, St Albans Park
  • The Brighton On Bay, Brighton
  • The Village Williamstown, Williamstown
  • Viewbank Gardens, Viewbank
  • Waterford Park, Knoxfield
  • Waterford Valley Lakes, Rowville
  • Woodlands Park, Berwick

Western Australia

  • Harbourside Village Mindarie, Mindarie
  • Homestay Village, Queens Park
  • Lakeside Village, Bibra Lake
  • Parkland Villas Booragoon, Booragoon
  • Parkland Villas Ellenbrook, Ellenbrook
  • Parkland Villas Mandurah, Mandurah
  • Parkland Villas Woodlands, Woodlands
  • The Pines, Ellenbrook
  • Timberside Villas, Woodvale [6] [7]

In New Zealand Lend Lease Retirement villages include:

New Zealand (North Island)

  • Knightsbridge Village, North Shore City
  • Mayfair Village, North Shore City
  • Ocean Shores Village, Mount Maunganui
  • Parklane Village, Forrest Hill
  • The Peninsula Club, Whangaparaoa [8] [9]


Outlook

Retirement villages are increasingly becoming an important form of accommodation for those aged over 55, particularly for those aged 65 and older. [10] [11] [12] In 2001, the market penetration rate of those aged 65 and older was 3.5 per cent and by 2009 it was 5.3 per cent. [13] It is estimated the rate will increase to 6.6 per cent by 2016 and 7.2 per cent by 2026. [14]

Financial Performance

Over the 2011 and 2012 financial year resales of retirement village units grew by 22 per cent to $266 million and turnover grew by 15 per cent. Over the year, 1,007 independent living units were sold.[15]


References

  1. ^ http://www.lendlease.com/en/Group/Lend-Lease/Worldwide/About-Us.aspx
  2. ^ http://www.pc.gov.au/__data/assets/pdf_file/0004/110929/aged-care-volume1.pdf
  3. ^ http://www.retirementbylendlease.com.au/village-amenities-and-services/serviced-apartments
  4. ^ http://www.retirementbylendlease.com.au/village-amenities-and-services
  5. ^ http://blogs.wsj.com/dealjournalaustralia/2013/02/28/archer-capital-buys-lend-leases-aged-care-business/
  6. ^ http://www.retirementbylendlease.com.au/retirement-villages
  7. ^ http://www.iseniority.com.au/retirement_villages.asp
  8. ^ http://www.retirementbylendlease.co.nz/retirement-villages
  9. ^ http://www.eldernet.co.nz/Home
  10. ^ http://www.pc.gov.au/__data/assets/pdf_file/0004/110929/aged-care-volume1.pdf
  11. ^ http://www.pc.gov.au/__data/assets/pdf_file/0014/110930/aged-care-volume2.pdf
  12. ^ http://www.rva.com.au/pages/about_retirement_villages/accommodation
  13. ^ http://www.pc.gov.au/__data/assets/pdf_file/0014/110930/aged-care-volume2.pdf
  14. ^ http://www.pc.gov.au/__data/assets/pdf_file/0014/110930/aged-care-volume2.pdf
  15. ^ http://lendlease2012.reportonline.com.au/annual-report/australia-0




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