What DeGroup does

DeGroup Pty Ltd is a privately held, third-generation family-owned Australian property development, investment and management group, founded in 1977 by Colin DeLutis and headquartered at Level 12, 100 Collins Street, Melbourne. The company owns and manages 58 properties spanning approximately 250,000 square metres of retail, commercial, industrial and hospitality assets, predominantly across Victoria and South Australia. Core holdings include four sub-regional and neighbourhood shopping centres (CS Square Caroline Springs, Sanctuary Lakes Point Cook, The Village Bacchus Marsh, Somerville Central), CBD office towers (263 William Street, 550 Lonsdale Street, 190 Queen Street), hospitality venues (Sanctuary Lakes Hotel, The Metropolitan Hotel, Laurel Hotel), and residential developments (Lygon Place, Sprout Richmond, Fitzrovia Residences). The portfolio serves 400+ tenants with reported 98% retail occupancy, anchored by national supermarket and department store chains including Coles, Woolworths, Aldi, Kmart, Target and Myer.

The business operates a dual revenue model combining recurring rental income from long-term leases (subscription-style) with one-time proceeds from residential and commercial developments held or sold. Revenue is generated through direct B2B leasing of retail, office and industrial space to national retailers, government tenants (Victoria Police, YMCA) and SMB occupiers, with pricing negotiated per enquiry and billed annually. Capital allocation has been disciplined and counter-cyclical, including the purchase of Bradmill out of receivership from ANZ in 2002 and the subsequent 2017 divestment to international interests, and opportunistic CBD office acquisitions such as 550 Lonsdale Street and the Metropolitan Hotel. Cumulative property transactions exceed $1.5 billion, with an active development pipeline of more than $1.2 billion.

The group markets itself as an integrated property platform combining in-house development, asset ownership and ongoing management, distinguishing itself via heritage revitalisation (e.g., the 2024 restoration of the Sorrento Athenaeum and the 2023 reopening of the Metropolitan Hotel) and a $5.5 million sustainability programme covering 6,742 solar panels across four assets, generating 3,598 MWh of clean energy annually. Leadership is being transitioned across three generations, with Ben DeLutis as Chief Operating Officer and Brittany DeLutis as Marketing Manager, while Colin DeLutis remains the patriarch. The company maintains a small staff of 11-50 employees and has not raised institutional capital in its property division, relying instead on family capital and conventional property finance.

Name

DeGroup

Legal name

DeGroup Pty Ltd

Website

https://degroup.com.au

Company type

Private

Founded year

1977

Operating status

Operating

Headcount range

11–50 employees

Short description

DeGroup Pty Ltd is a third-generation, family-owned Australian property group that develops, owns and manages retail, commercial, industrial and hospitality assets across Victoria and South Australia, serving national retailers, government tenants and SMB occupiers across 58 properties totaling 250,000 sqm.

Ownership category

akta.pro rank

Headquarters

HQ city

Melbourne

HQ country

Australia

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Marketing or Sales, Supply Chain, Others

Revenue model

1. Property Rental Income: Long-term lease arrangements across retail, commercial, industrial, and hospitality properties generating recurring rental income from tenants including national retailers, office occupants, and hospitality operators.
2. Property Development: Development of residential, retail, commercial and industrial properties for sale or long-term hold. The company develops to hold, maintaining quality assets for rental income generation.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

DeGroup develops, invests in, owns, and manages a diversified portfolio of retail, commercial, industrial, hospitality, and residential properties across Victoria and South Australia. The company acquires or builds properties, leases space to business tenants under long-term arrangements (national retailers, commercial tenants, hospitality operators), and occasionally sells residential developments. Its 58 assets span approximately 250,000 sqm, including sub-regional and neighbourhood shopping centres, CBD office towers, hotels, and townhouse/apartment projects.

Product overview

DeGroup is a diversified property development, investment, and management company operating as an integrated property group. The company does not offer a unified software product but rather a portfolio of property-based offerings spanning multiple sectors. The core products include shopping centre assets (CS Square, Sanctuary Lakes Shopping Centre, The Village Bacchus Marsh, Somerville Central) which provide retail space leased to national brands and specialty retailers; commercial office buildings (263 William Street tower, 550 Lonsdale Street, 100 Collins Street) offering office suites with end-of-trip facilities; hospitality venues (Sanctuary Lakes Hotel, The Metropolitan Hotel, Laurel Hotel) providing function and accommodation services; residential developments (Sprout Richmond, Fitzrovia Residences, Lygon Place) comprising townhouses and apartments; and strip retail/hospitality properties across Victoria and South Australia. The company develops to hold, focusing on quality, sustainability, and longevity across approximately 250,000 square metres of assets.

Differentiator

Problem solved

Functional benefit

Products and services

• CS Square Shopping Centre A sub-regional shopping centre in Caroline Springs, Victoria, anchored by Coles, Woolworths, Kmart, and Aldi with 80 specialty retailers; leased to national retail tenants.
• Sanctuary Lakes Shopping Centre A sub-regional shopping centre in Point Cook, Victoria, anchored by Kmart, Coles, and Aldi with 120 specialty stores; Stage 2 added 12,500 sqm and Stage 3 added 3,000 sqm of retail and office space.
• The Village Bacchus Marsh A neighbourhood shopping centre in Bacchus Marsh, Victoria, anchored by Coles and Aldi with 65 specialty retailers; expansion adding nearly 2,400 sqm of retail and commercial office space underway, with Dan Murphy's (840 sqm) opened in 2024.
• Somerville Central A neighbourhood shopping centre on the Mornington Peninsula, Victoria, anchored by Target and Coles with 40 specialty retailers; extension planned adding circa 2,100 sqm of mixed retail, office, and commercial space.
• 263 William Street Commercial Tower A 20-level boutique office tower in Melbourne's legal precinct with 235 sqm floors featuring 270-degree views, end-of-trip facilities, and a communal business centre; part of the Metropolitan Hotel redevelopment project.
• 550 Lonsdale Street Office Building A seven-level office building with ground floor retail in Melbourne's legal precinct, offering over 6,700 sqm of accommodation with fully fitted office suites ranging from 86 sqm to 2,252 sqm.
• Sanctuary Lakes Hotel A hotel and entertainment venue in Point Cook, Victoria, comprising four function rooms, sports bar, buffet, bistro, and gaming facilities with capacity for 1,100 guests across 3,000 sqm; operated by hospitality tenant.
• The Metropolitan Hotel A historic pub in Melbourne's legal precinct restored and expanded in 2023 to a 3-level venue totalling over 800 sqm, integrated with the 263 William Street 20-level office tower above; designed by Bates Smart.
• Sprout Richmond Townhomes An exclusive collection of architecturally designed townhomes in Richmond featuring sustainable design, unique garden aspects, and premium craftsmanship; sold out within days of listing.
• Fitzrovia Residences A collection of 17 limited edition luxury homes in Fitzroy crafted for effortless living in a highly sought-after locale; sold out almost instantly upon listing.
• CS Hub Caroline Springs High-profile retail and office development opposite CS Square Shopping Centre comprising general retail (134-273 sqm), large format retail (417-720 sqm), and office spaces (67-533 sqm); completed Q3 2023 with 3,873 sqm GLA.
• Sorrento Athenaeum Cinema An iconic heritage site in Sorrento restored in July 2024 into signature retail premises including Cotton On (433 sqm), lululemon (305 sqm), and seven office suites (10-29 sqm each) plus storage rooms.
• Lygon Place Apartments A seven/eight-storey apartment building in East Brunswick with 96-98 residential units and 4 retail tenancies, designed by Peddle Thorp; delivered in 2018/2019 with three-level underground parking and rooftop garden retreat.
• Coles Woodend Freestanding Supermarket A freestanding Coles supermarket (including Liquorland) on a 1.1 hectare site adjacent to Woodend Train Station; the only full-line supermarket in its primary catchment with 3,780 sqm GLA.

Quantifiable outcome

• 98% occupancy rate across retail portfolio
• +2 more outcomes

Named customers15 records

Segments6 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators15 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Vicinity Centres: ASX-listed owner/manager of sub-regional and neighbourhood shopping centres across Australia. Directly comparable as a shopping-centre landlord of similar format assets to DeGroup's CS Square, Sanctuary Lakes, Bacchus Marsh and Somerville Central, although at vastly larger scale and with public-market capital access.
• Sentinel Property Group: Private Australian property investment company focused on retail, commercial and industrial assets. Comparable to DeGroup as a private landlord-developer with a multi-sector portfolio and similar exposure to Australian metropolitan catchments.
• Haben Property Group: Australian private family-owned property investment and development group focused on retail, commercial and mixed-use assets. Closely comparable to DeGroup as a similarly-sized private family-controlled retail/commercial landlord operating without public-market capital.
• Abacus Property Group: ASX-listed owner of neighbourhood and sub-regional shopping centres plus self-storage and commercial assets. Closely comparable to DeGroup in shopping-centre asset class; notably, Abacus was the vendor to DeGroup for The Village Bacchus Marsh, reinforcing direct market overlap.

Broad incumbents

• Charter Hall Group: ASX-listed diversified property group with material retail, commercial and industrial exposure. Comparable as an institutional owner-operator of retail and commercial property with a development pipeline, though Charter Hall's activities span office, industrial and retail sectors far broader than DeGroup's shopping-centre focus.
• Stockland: ASX-listed diversified property developer with shopping centres, residential and logistics. Comparable as a developer-owner of neighbourhood and sub-regional retail centres alongside mixed-use and residential masterplanned communities, though materially larger and publicly capitalised.
• Lendlease: ASX-listed global property and investment group with retail, office, residential and infrastructure development. Comparable in development and asset ownership capabilities; Lendlease's Australian Prime Property Fund Retail was the seller of CS Square to DeGroup in 2021, illustrating direct market interaction.
• Scentre Group: Owner and operator of Westfield-branded shopping centres across Australia and New Zealand. Comparable as a large-scale retail property landlord and developer with a managed centre portfolio, although its asset base is materially larger and predominantly higher-order regional and super-regional centres.

Emerging players

• Impact Investment Group: Private Australian impact-led property investor with sustainability-themed commercial and residential assets. Comparable as a private property owner with an explicit ESG investment thesis — relevant given DeGroup's $5.5M solar platform and sustainability positioning across its portfolio.
• ISPT: Industry super fund-owned Australian property investor across retail, office, industrial and residential. Comparable as an institutional private owner-operator of Australian real estate with a long-duration capital base, though operating at substantially larger scale and with a more diversified mandate.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about DeGroup