Proposed development at 159 Allen Street, Leichhardt
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  • Property investment and development company Desane Group has received local government approval to begin its latest stint in Sydney
  • The company plans to develop 46 residential apartments across Leichardt suburb in Sydney
  • Desane is currently undertaking due diligence for approximately $100 million

Property investment and development company Desane Group has received local government approval to begin its latest stint in Sydney.

The plan to develop 46 residential apartments across Sydney fringe suburb Leichardt was approved by the city’s Inner West Council.

The planned 2782 square metre property is located five kilometres from the Sydney CBD and 200 metres from the Light Rail Station in Hawthorne.

“The Sydney city fringe is an area that is attractive to people who are socially mobile and also want lifestyle choice,” Desane Head of Property Rick Montrone said.

The property is a short distance from significant infrastructure including the University of Sydney and Royal Prince Alfred Hospital at Camperdown.

“The planning approval of the project will allow Desane to move forward with its program of increasing its income value‐add investment and development property portfolio,” Rick added.

Desane Group Holdings is a leading property investment and development company which is based in New South Wales.

“The design of the project includes a 4‐storey apartment block and a 5‐storey apartment block, comprising of 46 residential apartments with technology that caters to individual lifestyle needs,” Rick said.

Desane is currently undertaking due diligence for approximately $100 million of investment property acquisition.

On completion, the Allen Street Leichardt project will be valued more than $50 million.

Share prices in DGH are still today, idling at $1.45 apiece. The company’s market cap is $59.31 million.

DGH by the numbers
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