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GARDA PROPERTY GROUP — Capital/Financing Update 2024
Jan 31, 2024
64972_rns_2024-01-31_9e0c4323-9bf9-4a10-8c48-60a65a9da731.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
1 February 2024
BOTANICCA 7 AND 9 SALE COMPLETION
GARDA confirms that settlement of the $80 million sale of the Botanicca 7 and 9 office properties took place late Wednesday. The net sale proceeds will be applied to GARDA’s variable rate senior debt facilities, reducing drawn debt to approximately $187 million.
The settlement is the final step in GARDA’s exit from the Melbourne office market.
GARDA is now comprised entirely of its high-quality established Brisbane Industrial portfolio and Cairns Corporate Tower.
GARDA continues to develop out it’s 140,000m[2] Brisbane industrial pipeline. The current status of its projects are as follows:
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Construction of the 13,000m² Richlands facility completed on 22 December 2023;
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Construction of the 15,000m² facility at 38-56 Peterkin Street, Acacia Ridge commenced Q4CY23:
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At the 25 hectares North Lakes industrial project, bulk earthworks are anticipated to be completed by April 2024 with civil works expected to commence soon after.
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The 14,840m² Pinnacle East project at Wacol is now construction ready, with all material external approvals received.
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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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