Before listing on the Australian Securities Exchange in 1987, Desane Group Holdings Limited acquired a number of commercial and industrial properties and a construction business. Subsequent to the acquisition, Desane Group Holdings was listed on the Australian Securities Exchange.
Since listing on the Australian Securities Exchange, Desane has undertaken a number of property redevelopment projects throughout the Sydney Metropolitan Area. It was not until 1997 that Desane was able to commence its property accumulation program, which has resulted in the Company currently owning and managing approximately $60 million of properties.
In the early 1990’s, Desane acquired a large commercial property on the corner of Ross Street & St John’s Road, Glebe. Desane redeveloped the site, to ensure that the previously dilapidated building was faithfully restored and the adjoining redevelopment was in keeping with the heritage significance of the area.
In the mid 1990’s, Desane acquired a disused and dilapidated 5 storey commercial building in the Sydney suburb of Camperdown, formerly owned by Grace Bros. Desane developed the site, with the aim of ensuring the adaptive re-use of the interiors to office, whilst retaining the external integrity and heritage significance of the building.
In the late 1990’s, Desane developed a residential townhouse project in the Sydney suburb of Annandale, through a joint venture arrangement. The project yielded approximately 22 residential townhouses and was sold in 1999.
In 2003, Desane commenced the process of assessing the economic viability of alternative land use opportunities for its property located at Pyrmont Bridge Road, Camperdown. Several options were explored, however the Group decided to sell its interest in the property in 2004.
In 2007, Desane commenced the process of rezoning the 12,000m2 former Tuta Healthcare site in the Sydney suburb of Lane Cove to high density residential. In 2012, the Joint Regional Planning Panel (JRPP) approved the project, providing 218 residential units, over 5 towers, for the site. The property was subsequently sold with development approval for $40 million in 2014.
In 2015, Desane developed its mixed use site in the Sydney suburb of Rozelle. Easton was a 32 residential apartment development which was well received by the market. On realisation, the project delivered a development profit to the Group well in excess of the typical return for a project of this size.
As at the financial year ending 2016, the Group has reported 22 annual profit results. The Group has paid $8.8 million in total dividends over the past three years.
The Group’s original vision is continuing to be fulfilled, with the accumulation of property assets, increasing rental income from the assets it holds and accelerated earnings through development and “add value” opportunities.