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Desane Group Holdings Ltd ( (AU:DGH) ) just unveiled an announcement.
Desane Group Holdings Limited has secured a binding 10-year lease, with 5-year renewal options, for its property at 322 Norton Street in Leichhardt with a leading national non-discretionary retailer. The agreement begins at annual gross rent of $340,273 plus GST, reinforcing Desane’s portfolio quality through the addition of a blue-chip tenant.
To support the lease, Desane has engaged Sydney-based SFN Build to complete alterations and additions at the site within six to eight months, while the tenant will fund its own internal fitout. The project is being financed through a $2.0 million equity facility from National Australia Bank, underpinning an asset repositioning that management describes as a significant milestone in enhancing the property’s value and income profile.
More about Desane Group Holdings Ltd
Desane Group Holdings Limited is a Sydney-based property investment and development company focused on maximising long-term value for shareholders. The group acquires, enhances and manages real estate assets, underpinned by a stated commitment to integrity, strong work ethic and development excellence in the Australian property market.
Average Trading Volume: 11,169
Technical Sentiment Signal: Sell
Current Market Cap: A$31.91M
For detailed information about DGH stock, go to TipRanks’ Stock Analysis page.