DESANE COMPLETES PURCHASE OF 159 ALLEN ST, LEICHHARDT NSW
159 Allen Street Leichhardt Pty Ltd, a controlled entity of Desane Group Holdings Limited (ASX: DGH) (Desane or the Company), wishes to announce that it has today completed the acquisition of the 2,782m2 property at 159 Allen Street, located in the inner Sydney suburb of Leichhardt.
The property was purchased for the sum of $21 million, using internal capital to fund the acquisition.
Hawthorne
159 Allen St,
Light Rail
Leichhardt
Station
The property is located 5 kilometres from Sydney's CBD and 200m from the Light Rail Station at Hawthorne. The property is a short distance to local schools, amenities and other public services including the University of Sydney and the Royal Prince Alfred Hospital at Camperdown.
Since exchanging contracts in April 2018, the Company has obtained a development approval from the Inner West Council for a 46 residential apartment project.
Image of approved apartment project at 159 Allen Street, Leichhardt (supplied GroupGSA)
Desane Media: Richard Lenarduzzi - 0411 254 390
For further information, please visit www.desane.com.auor please contact:
Phil Montrone OAM
Jack Sciara
Managing Director & CEO
Company Secretary
Desane Group Holdings Limited
Desane Group Holdings Limited
(02) 9555 9922
(02) 9555 9922
philmontrone@desane.com.au
jacksciara@desane.com.au
ABOUT DESANE:
Desane Group Holdings Limited is a leading property investment and development company, based in Sydney, Australia. Integrity, work ethic and a commitment to excellence underpins the basis of Desane's long term vision of ensuring maximum value for its shareholders.
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Desane Group Holdings Limited published this content on 15 October 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 October 2019 05:06:12 UTC
Desane Group Holdings Limited is an Australia-based property investment and development company. The Company's segments include Property Investment, Property Development and Property Services. The Property Investment segment is engaged in renting prime real estate investments. The Property Development segment is engaged in the development of residential, commercial or industrial projects. The Property Services segment includes property and related services. Its developments include 159 Allen Street, Leichhardt, and 322 Norton Street, Leichhardt. The Company's investments include 7 Sirius Road, Lane Cove; 13 Sirius Road, Lane Cove; 16 Industrial Avenue, Wacol; 91 Thornton Drive, Penrith; 270-278 Norton Street, Leichhardt, and 35 Norton Street, Leichhardt. Its 35 Norton Street, Leichhardt investment is an approximately 436 square meters (m2) retail and commercial property. Its 159 Allen Street, Leichhardt development is a residential property and covers approximately 2,782 m2.
DESANE GROUP HOLDINGS LIMITED 
