This article is from the Australian Property Journal archive
GARDA Property Group (ASX: GDF) has recorded a $3.7 million devaluation.
Six of its 12 real estate assets were externally valued.
The independent valuations resulted in a 0.75% decrease in prior book values as at 31 December, with Garda’s total portfolio now valued at $499.55 million.
In February, Garda posted a statutory net loss after tax for the six month period ended 31 December 2023 of $34,612,000, after a net loss of $741,000 at 31 December 2022.
With the group completing the sale of its Botanicca 7 and Botanicca 9 office buildings, after settlement took place on 31 January 2024.
