Delfin (company)

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

Delfin

Formerly	Development Finance Company
Company type	Subsidiary
Traded as	ASX: DEL
Industry	Real estate development
Founded	1953
Headquarters	Sydney, Australia
Website	www.delfin.com.au

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:

• West Lakes (1970)^[2]
• Golden Grove (1984)^[7]
• Rosewood (1992)^[8]
• Mawson Lakes (1998)^[9]
• Blakes Crossing (2009)^[10]
• Springwood (2010) — development interests sold off January 2016, to be completed by Wel.co.^[11]