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Steller Pty Ltd was a prominent Melbourne-based property development company co-founded by Nicholas Smedley and Simon Smedley. Registered in 2012, it specialized in luxury and medium-density residential and commercial projects, experiencing rapid growth and amassing a significant project pipeline, reportedly worth over $4 billion at its peak. However, in mid-2019, Steller Group faced severe financial difficulties, leading to the appointment of receivers and managers (such as McGrathNicol and KordaMentha) to numerous entities within the group and its major development sites. The company was known for its ambitious projects primarily across Melbourne's inner and south-eastern suburbs. Its collapse significantly impacted the Melbourne property market, various financiers, and homebuyers. At its peak, Steller Pty Ltd employed approximately 150 people; following receivership, its original operational capacity ceased.
Served as the central hub for the company's property development operations, including project management, acquisitions, finance, sales, marketing, and corporate administration before its financial collapse in 2019.
The headquarters were located in a modern commercial building in a prestigious Melbourne suburb, reflecting the company's focus on the high-end property market. Specific internal architectural details are not widely publicized.
Prior to its collapse, Steller Pty Ltd was characterized by a fast-paced, ambitious, and growth-oriented work culture, inherent in rapidly scaling development firms. This environment would have faced extreme stress and uncertainty leading up to and during the receivership process.
The Toorak headquarters underscored Steller's positioning in the premium Melbourne property market and served as the command center for its extensive development pipeline before its financial distress. Its location was strategic for client relations and brand image.
Steller Pty Ltd's operations were primarily focused on the Melbourne metropolitan area in Victoria, Australia. The company did not have a significant international operational presence or overseas offices.
Level 1, 461-463 Toorak Road
Toorak
VIC
Australia
Address: Specific to individual development project sites (temporary)
To facilitate direct oversight and management of construction activities for Steller's diverse development portfolio across Melbourne.
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As of April 2025, Steller Pty Ltd' leadership includes:
Steller Pty Ltd has been backed by several prominent investors over the years, including:
No new executive hires or exits for the original Steller Pty Ltd entity have been publicly reported in the last 12 months. The company's primary operations and its original executive team's involvement ceased around mid-2019 due to receivership and subsequent liquidation processes for various parts of the group.
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During its operational period, Steller Pty Ltd likely utilized common corporate email formats based on its domain steller.com.au. As the company is in receivership and the original domain is no longer actively used by the entity for communications, these formats are historical references.
[first_initial][last]@steller.com.au (e.g., jsmith@steller.com.au) or [first].[last]@steller.com.au (e.g., john.smith@steller.com.au)
Format
nsmedley@steller.com.au (example of a historical format; domain inactive for original company use)
Example
0 (domain inactive for original company use, or emails are not monitored)%
Success rate
Australian Financial Review • July 16, 2019
McGrathNicol was appointed as receivers and managers to key entities within Nicholas and Simon Smedley’s Steller Group, a Melbourne-based development firm. This impacted numerous development projects, with the group having a pipeline once valued at over $4 billion....more
The Age • July 17, 2019
The Continental Hotel redevelopment in Sorrento, a flagship project for Steller Group, was placed into the hands of receivers KordaMentha, further highlighting the widespread financial distress faced by the developer....more
The Urban Developer • February 27, 2020
A prime development site in South Yarra, formerly part of the Steller Group's portfolio, was sold for $30 million by receivers KordaMentha. This transaction was part of the ongoing asset realization process following Steller's collapse....more
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