• Desane Properties Pty Ltd agrees to lease extension with Brisbane City Council until 2030
• Lease will net Desane approximately $4.5 million in rental income
• Wacol facility is a core industrial suburb with access to major arterials

Desane Group Holdings Ltd (ASX: DGH) has announced that its subsidiary Desane Properties Pty Ltd has agreed to a lease extension with Brisbane City Council for their premises at 16 Industrial Avenue, Wacol. The agreed lease term extends Brisbane Council's tenancy at the premises until 30 June 2030 and will net Desane approximately $4.5 million in rental income over that period. Desane CEO Mr Rick Montrone commented that the lease extension confirms the confidence Brisbane Council has with the asset and with Desane's investment strategy for this location. In addition to the security of having the largest local government tenant in Australia until 2030, the agreement offers Desane a significant and stable income stream for the years ahead. The Wacol facility is a core industrial suburb located only 20 km southwest of the Brisbane CBD with immediate access to major arterials, including the Ipswich and Logan Motorway. Brisbane Council houses their fleet vehicle maintenance division at the facility. In 2024, Desane secured a modified development consent for the additional 3,250 m2 industrial warehouse on approximately 8,000 m2 of land to the rear of the existing warehouse, which Desane will tender once construction prices stabilise relative to rents.