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GARDA PROPERTY GROUP — Capital/Financing Update 2021
Nov 7, 2021
64972_rns_2021-11-07_f025aef3-647a-4961-a85e-48b74054dd13.pdf
Capital/Financing Update
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GARDA Property Group
Level 21, 12 Creek Street W gardaproperty.com.au Brisbane QLD 4000 E [email protected] GPO Box 5270 P +61 7 3002 5300 Brisbane QLD 4001
8 November 2021
LEASING UPDATE – BOTANICCA 9 AND BOX HILL
GARDA Property Group (“GARDA”) is pleased to provide an update on leasing activity at two of its commercial office buildings in Melbourne.
Botanicca 9
Two new leases have been executed at Botanicca 9 for a total of 1,332m² of office space. The leases are due to commence in the next two months and both are for seven year terms:
| Tenant | Location | NLA(m²) | Start Date | Term |
|---|---|---|---|---|
| BerryStreet | Part of level 3 | 630 | December 2021 | 7years |
| Servier | Part of level 4 | 702 | January2022 | 7years |
The two new leases will increase occupancy at Botanicca 9 (by gross income) to 66% and WALE (by gross income) at 31 December 2021 to 6.1 years.
Matthew Madsen, GARDA’s Executive Chairman observed: “The Melbourne city-fringe leasing market is experiencing substantial improvement in activity, both in terms of tenant inquiry and lease transactions, following the lifting of restrictions."
Botanicca 9 has a further 2,769m² of available NLA that is expected to be leased during FY22.
Box Hill
Planet Innovation, which commenced a seven-year, whole of building lease in December 2020, has extended its lease by a further three years. Its lease will now expire in November 2030, increasing the building’s WALE (by gross income) of 9.0 years.
Matthew Madsen commented: “GARDA is proud to be able to accommodate Planet Innovation for the next decade. Since its initial occupation of one of three floors in 2014, Planet Innovation, a regular recipient Australia’s Most Innovative Company award, has expanded to occupy the full building. The quality of tenant and long WALE has resulted in recent positive valuation outcomes.”
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Authorised for release by: Matthew Madsen (Executive Chairman)
For more information please contact:
Paul Brown
Head of Treasury and Investor Relations GARDA Property Group Phone: 07 3002 5362 [email protected]
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