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Desane Group Holdings Limited (ASX:DGH)

ALERT: Price-sensitive ASX Announcement for DGH
Current share price for DGH : $0.830 0.05 (6.41%)+
Announcement
Release
20 Apr 2026 10:54AM
Price at Release
$0.780
Full Release
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Summary
On April 20, 2026, Desane Group Holdings Limited announced a new long-term lease agreement for their property at 322 Norton Street, Leichhardt, with a leading national retailer. The lease is set for a duration of 10 years with options for a 5-year renewal. The starting rent is $340,273 per annum plus GST, with provisions for annual fixed and market reviews. The property will undergo alterations managed by Sydney-based SFN Build to meet the tenant's needs, with completion expected in six to eight months. The project is financially supported by a $2.0 million equity facility from National Australia Bank. Desane's CEO, Rick Montrone, highlighted this lease as a significant enhancement to the company's asset portfolio.
Key Points
  • Desane secures a long-term lease for 322 Norton Street, Leichhardt.
  • Lease term is 10 years with a 5-year renewal option.
  • Starting rental is $340,273 per annum gross plus GST.
  • Alterations will be conducted by SFN Build.
  • Completion of alterations expected within six to eight months.
  • Funded by a $2.0 million equity facility from NAB.
  • CEO Rick Montrone emphasizes the strategic importance of the lease.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.