Thanks for pointing out that the link is in the source, would never have found it otherwise.
After finding that I managed to find this thread which solved my problem:
https://ww.wp.xz.cn/support/topic/password-reset-missing-link-url-within-email-buddypress?replies=4
The < and > wrapping the link were being ignored by gmail, live, and mac email client (the only ones I tried). So changing them to ( ) allowed the link to be shown.
This seems very hacky but am not sure if there is a better way to do it.
Sorry site is new.learncoach.co.nz
Had to enable theme as navigation was impossible without it.