Garda Property Group to Sell Queensland Industrial Asset
MT Newswires Live07:31
Garda Property Group (ASX:GDF) entered into a conditional agreement to sell its industrial property at 70-82 Main Beach Road, Pinkenba, to 2MB for AU$33.3 million, slightly below the asset's AU$34 million independent valuation, according to a Monday filing with the Australian bourse.
The buyer has until Oct. 13 to complete due diligence, with settlement scheduled for Jan. 22 2027, per the filing.
The company plans to use the net proceeds to cut drawn debt by about AU$32.9 million to AU$143.1 million, reducing gearing to roughly 27%, while net tangible assets per security is expected to remain unchanged at AU$1.64, the filing added.
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