Primelife
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| Strategic Business Unit | |
| Industry | Retirement |
| Founded | 1992 |
| Headquarters | Melbourne, Australia |
| Website | www.retirementbylendlease.com.au |
Lend Lease Retirement Living is part of the Lend Lease Group.
Lend Lease Retirement Living constructs, develops, owns and manages retirement villages. Lend Lease Retirement Living offers pre-sold developments and sells units to prospective residents and manages those facilities for a fee. With over 70 villages, Lend Lease Retirement Living is the largest developer, owner and operator of retirement villages in Australia and New Zealand.
The business also provides "Independent Living Units", "Independent Living Apartments" and "Serviced Apartments" 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.
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.
In Australia, Lend Lease Retirement Living villages include:
Australian Capital Territory
New South Wales
Queensland
South Australia
Victoria
Western Australia
In New Zealand, Lend Lease Retirement Living villages include:
New Zealand (North Island)
Over the 2011 and 2012 financial year resales of retirement village units by the firm 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.
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