Desane Group Holdings Limited (ASX: DGH) has announced the completion of the sale of its commercial property located at 13 Sirius Road, Lane Cove, NSW. Desane is a Sydney-based property investment and development company committed to delivering maximum value for its shareholders. The sale was executed through its wholly-owned subsidiary, Desane Properties Pty Ltd.
The property was sold for $8.7 million, excluding GST, to a local privately owned prestige motor vehicle company. Brad Sutton of Sutton Anderson Property Consultants facilitated the transaction. The contract for the sale was initially exchanged on September 4, 2025, with the settlement originally slated for on or before January 31, 2026.
Rick Montrone, CEO of Desane, commented on the sale, noting that the early settlement of 13 Sirius Road concludes over two decades of ownership. He added that this provides Desane with the flexibility to pursue future acquisitions and projects aligned with the company’s current investment strategy.
Desane has confirmed that the identity of the buyer is not considered to be material information that would affect the price or value of the entity’s securities. The company also confirms that the announcement includes all material information about the impact of the contract and is not misleading by omission.
