Delfin Limited

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Delfin
FormerlyDevelopment Finance Company
Company type Subsidiary
ASX:  DEL
Industry Real estate development
Founded1953
Headquarters Sydney, Australia
Website www.delfin.com.au

Delfin, formerly the Development Finance Company was an Australian business carrying out residential developments. It was acquired by Lendlease in 2001.

Contents

History

Delfin was established as the Development Finance Company by John Marks in 1953. DFC became a public company in 1957 and was listed on the Australian Securities Exchange in 1959. The purpose of DFC was to serve as an "investment banking service" that would "assist Australia’s industrial development by providing long-term finance and permanent capital to Australian companies." [1] The abbreviation “DelFin” was used in the names of some of DFC's subsidiary companies. [2]

DFC entered the real estate development market in 1969. Via an indenture signed by its subsidiary, Delfin Management Services Pty Ltd and the Government of South Australia, Delfin built a real estate development called West Lakes. West Lakes is in the upper estuary of the Port River, known as the Upper Port Reach, to the north-west of the Adelaide central business district. [3] [2]

In 1983, DFC was acquired by the ANZ Bank. [2] [4] After being spun off from ANZ, Delfin Property Group was acquired by Lendlease in 2001 for $172 million. Upon acquisition, Delfin Property Group was delisted and became Delfin Lend Lease. [5] [6]

Urban developments

DFC initiated a number of urban developments across Australia in the latter half of the 20th century, and into the 21st century. These included:

References

  1. ↑ Bain, Jim (2012). Marks, Sir John Hedley Douglas (1916–1982). Australian National University. Retrieved 26 July 2019. first published in hardcopy in Australian Dictionary of Biography, Volume 18, (MUP), 2012
  2. 1 2 3 4 Martin, Brian (2013), Delfin : West Lakes and beyond : a developer's diary, Brian Martin, pp. 24–27 & 30–31, retrieved 21 July 2019
  3. ↑ "West Lakes Development Act, 1969" (PDF). Government of South Australia. 20 November 1969. pp. 228 & 234. Retrieved 26 July 2019.
  4. ↑ ANZ steps in with $91m bid for DFC Canberra Times 20 August 1983 page 19
  5. ↑ Proposal for Lend Lease to acquire Delfin Lendlease 30 April 2001
  6. ↑ Lend Lease Welcomes Delfin Shareholder's Thumbs Up Lendlease 30 July 2001
  7. ↑ "S.A. housing project wins world award". Australian Financial Review . 11 May 1998. Retrieved 6 December 2023.
  8. ↑ "Delfin keeps its house in order". Australian Financial Review. Retrieved 6 December 2023.
  9. ↑ Ryan, Charmaine (16 November 1998). "Developers Revive the MFP Dream". Australian Financial Review. Retrieved 5 December 2023.
  10. ↑ "Delfin Lend Lease Blakeview Pty Ltd - Notification - N94550". Australian Competition & Consumer Commission . Retrieved 6 December 2023.
  11. ↑ "Jennings struggles to meet deadline". Australian Financial Review. 24 July 1995. Retrieved 6 December 2023.
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