Garda Property Secures AU$77.5 Million Cairns Office Sale

MT Newswires Live

2025/08/19

Garda Property Group (ASX:GDF) said the call option to acquire Garda's last remaining office building at 7-19 Lake Street, Cairns, for AU$77.5 million has been exercised by Cairns Corporate Tower, according to a Tuesday Australian bourse filing.

The company said the settlement will occur by Sept. 19, with the divestment concentrating its property ownership in Brisbane Industrial.

Following the Cairns settlement and the expected North Lakes divestment, pro-forma gearing will now be reduced to 14.7%, providing AU$87 million in facility headroom for lending and investment opportunities, the filing added.

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