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GARDA PROPERTY GROUP — Capital/Financing Update 2022
Jun 1, 2022
64972_rns_2022-06-01_bc355199-87e8-4c9d-911a-374e2d45c7bf.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
2 June 2022
LEASING - HAWTHORN EAST
GARDA Property Group (“GARDA”) is pleased to announce that solar energy equipment supplier, RayGen Resources Pty Ltd, has committed to a five-year lease commencing on 1 September 2022. The lease over the 634m² ground floor office and the 927m² ground floor warehouse represents 33% of net property income.
The remaining full first floor office of approximately 1,800m² is actively being marketed for lease.
GARDA settled the $20.1 million acquisition of the vacant commercial office building at 8-10 Cato Street, Hawthorn East (Vic) on 10 March 2022.
Upon acquisition, the property was independently valued at $22.0 million, representing an immediate 9.5% increase in value.
GARDA is undertaking an approximate $3.5 million capital improvements program to the property which will be completed in Q1FY23.
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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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