How Dustin Martin amassed a multimillion-dollar property portfolio in Richmond

Dustin Martin’s retirement from footy has left many wondering what’s next for the Tigers star, but some shrewd property investments mean it’s unlikely he will ever have to work again.

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Dustin Martin’s future is likely to include a lot of golf, partying, collecting rent — and maybe a low-key role in footy.

While news of his retirement on Tuesday sparked questions about what the triple Richmond champion might do next, the reality is Martin may never need to work again.

Shrewd business dealings off the field while he was dominating on it mean Martin will collect a hefty pay cheque long after Richmond stops topping up his bank balance.

Martin has built a $12+ million blue-chip portfolio of commercial real estate based in Richmond and Abbotsford.

Shrewd business dealings off the field mean Dustin Martin will Martin will collect a hefty pay cheque long after Richmond stops topping up his bank balance. Picture: Getty Images

Outgoing Richmond chief executive Brendon Gale says Martin will take it easy before making any firm decisions on his future. Picture: Getty Images

The office and shop purchases – including a large section of a single street in Richmond – will provide the retired AFL star lucrative passive income stream during his retirement.

Martin’s investments have been made through a series of companies, primarily Butler Corporation — a 50:50 joint venture with long-term manager Ralph Carr.

At the heart of Martin’s property portfolio is a strip of five warehouse-style buildings running from 25 to 37 Butler St, North Richmond.

He shelled out $10.5m collectively for the adjoining properties, building up his targeted bricks and mortar holdings between 2016 and 2022.

At the heart of Martin’s property portfolio is a strip of five warehouse-style buildings running from 25 to 37 Butler St, North Richmond. Picture: David Crosling

25-27 Butler St is a converted warehouse offering office, retail space. Picture: David Crosling

407 Victoria St in Abbotsford is also in Dusty’s portfolio. Picture: David Crosling

Outgoing Richmond chief executive Brendon Gale said Martin would take it easy before making any firm decisions on his future.

“I think he would like to take a break and get away from football and get out of the pressure cooker,’’ Gale said.

“We have this incredible fascination with Dustin – he’s an incredible curiosity.

“So it will be a chance to step out of the bubble and recharge, reflect and renew, I guess.

“He has been well paid, so he will be OK.’’

Martin’s grandmother Lois Knight was certain there was one area her famous grandson would not after football.

“I think he will go on a holiday – he deserves it,’’ she said.

“We have often said ‘I wonder what Dust will do after he retires, when he finishes football?’

“And I said ‘well it definitely won’t be in the media’.’’

Dusty with his manager and investment partner, Ralph Carr. Picture: Jay Town

Dusty with his grandmother Lois Knight. Picture: Michael Klein

Gale said the chance of Martin joining his new Tasmanian AFL team next year “would be very, very attractive in some capacity’’.

He said Martin had “a lot to offer the game”, should he wish to stay involved.

Martin’s first purchase was a “New York style office warehouse” at 29-31 Butler St, snapped up for $2.2m in 2016.

In 2018 he shelled out $2.9m to buy the property next door, another warehouse conversion covering 335 square metres and offering a ground level showroom space.

The targeted investment spree continued with 35 and 37 Butler streets – two more warehouses – for $1.27m and $1.35m in 2019 and 2021.

Martin rounded out his interest in the street, handing over $2.75m for a rundown warehouse over two levels at 23 Butler St.

The view from Dusty’s Port Melbourne apartment. Picture: Supplied

The $1.7m apartment in Port Melbourne. Picture: Supplied

He owns 407 Victoria St in Abbotsford, a shop purchased for $1.6m in 2020.

And the Brownlow Medallist owns a beachfront apartment with stunning views of Port Phillp Bay in Port Melbourne, purchased for $1.7m in 2021, and a three-bedroom Victorian terrace in Albert Park he bought for $993,000 in 2012.

These are held solely by himself.

Martin’s more active business ventures include all-in-one fitness app DRIP, designed to be a personal trainer, wellness and mindfulness coach to people of all fitness levels.

He sold the app to celebrity trainer Jono Castano for an undisclosed sum in 2023 but remains a brand ambassador.