James Thomas Peet establishes Peet & Co. (real estate agents) in Perth, Western Australia.

James Thomas 'JT' Peet (1863-1935) migrated to Victoria, Australia from England in the 1880s.

By the early 1890s he had founded a real estate agency, Peet & Bastow, in Melbourne. His partner was Austin Bastow who was later to become Mayor of Subiaco in WA. JT Peet had a particular interest in Western Australia and, in around 1892 Peet & Bastow began marketing Wanneroo Park (now Bayswater, North Perth and part of northern Dianella).

JT Peet eventually moved to Perth in July 1895 and soon set up his real estate business, Peet & Co. Ltd., in an office on William Street, close to the present-day Raine Square. He soon became a Sworn Valuer and a Government Land Agent.

JT Peet continued the marketing of land subdivisions around Perth. Early examples include Jolimont Estate (Subiaco) and City View (South Perth) - both in 1896 - and the subdivision of the southern end of Garden Island, which the Commonwealth Government then compulsorily acquired in 1915 for the future Naval Base.

Subdivision marketing in Perth's suburbs

Peet & Company Limited was incorporated in 1905 and has traded as a company continuously since that date, making it the longest established property company in Western Australia, and one of the oldest in Australia.

From around 1903 to 1921, Peet produced a series of large, colourful real estate posters to market its subdivisions. The earliest such poster found is for Roleystone Estate (1903), and the district still bears road names connected with the Peet family (Urch Rd, Hall Rd, Raeburn Rd and Holden Rd).

The company introduced land sales on terms of a one-pound deposit and repayments of 10 shillings per month, interest-free.

In Dalkeith in 1915, lots were as cheap as 25 pounds. At that time, Dalkeith was mostly bush with only surveyors' pegs identifying lots. Innovative marketing was part of the company's success and JT Peet used his De Dion Bouton touring car, a novelty at the time, to take prospective clients from the Royal Show (Claremont) to the Dalkeith subdivision.

By the mid-century, Peet was handling 83 estates including parts of Scarborough, North Perth, Mount Hawthorn, Inglewood, Bayswater, Osborne Park, Westminster, Mirrabooka, Malaga, Bassendean, High Wycombe, Kalamunda, Gooseberry Hill, Cottesloe, Peppermint Grove, Redcliffe (now Perth Airport), Rivervale, Victoria Park, Lathlain, Cannington, Canning Vale and Dalkeith.

Expansion of land syndication and development activities

JT Peet was succeeded as Chairman by his son Cyril Peet, and then by Geoff Russell.

Cyril Peet and Geoff Russell were well known in the Perth community for their efforts on behalf of Legacy, RSL, and charitable and sporting organisations. Cyril was a President of the Real Estate Institute of WA and Geoff was a President of the Australian Institute of Valuers (WA).

In 1985, Peet merged its business with Tony Lennon & Assoc., and Geoff Russell was succeeded by Tony Lennon, Peet's current Chairman. Tony Lennon is a former President of the Real Estate Institute of WA and has been active in numerous community and local government bodies, including Chairman of The Australia Day Council of WA and President of the Shire of Peppermint Grove.

1985 also saw Warwick Hemsley join the Company as a Director, subsequently becoming Managing Director. Ian Palmer joined as a Director in April 1986.

Between the mid 1980s and early 1990s, Peet built up the largest franchised suburban real estate group in Western Australia. However, the master franchise was sold in 1993 to devolve the company's general real estate operations and move to the specialised services of land syndication, project management and marketing of land estates.

Peet was a pioneer of residential land syndication, creating land investment companies for many of its projects.

Over the years, Peet has continued to develop some of Perth's best-known estates including Kinross, St Michel, St Clair, St Paul's, Village Green, Bramley Waters, Eaton Garden Estate, Atwell Waters, Darling Vista, The Sanctuary (Woodvale), and Drummond Cove.

In 1996, Anthony Lennon Jr. joined the Board of Directors, and oversaw Peet's expansion of operations into Victoria in 1997, including the purchase of St Johns Wood Estate in Berwick and the development of Panorama Estate.

New Era: ASX listing and change to Peet Limited

In the early part of the 21st century, Peet continued to diversify – purchasing its first estate in Queensland in 2002, which is marketed as Warner Lakes, and expanding into residential and commercial development.

Victorian operations have also grown considerably with around 20 per cent of Peet's current land bank in that state.

In August 2004, Peet & Company Limited listed on the ASX. In the same year, Peet purchased its first estate in New South Wales, Pickett's Valley.

Peet is now the largest residential land syndicator in Australia.

Peet's growth called for a review of the company's core branding and positioning.  In 2006, Peet & Company Limited changed to Peet Limited, with a new visual identity expressing the company's confidence in its future direction while retaining its core values, solid reputation and rich history.

2010 and Beyond

In 2011, Peet established a partnership with MTAA Super through the acquisition of a 50% interest in the 1,244-hectare Flagstone West landholding in South East Queensland. It also took responsibility for the management and marketing of 300 homesites in Flagstone East.

The new partnership increased Peet’s national land bank to more than 50,600 lots and significantly increased its presence in Queensland.

Also in 2011, Peet announced a partnership with the Future Fund Board of Guardians to create new residential communities in Australia’s key growth corridors over the medium to long term.

Peet’s mandate is to acquire broadacre residential land in areas of projected population growth across the country which will be developed into new affordable and accessible residential communities.

Peet was also selected in 2011 to manage and market a new oceanside residential community for the Department of Housing at Golden Bay in Western Australia and to manage the Warner Springs project in South East Queensland, on behalf of Defence Housing Australia.