Garda Property Group's industrial portfolio valuation rose by $8.25 million for FY26, driven by Brisbane rent growth and land value increases, pushing the portfolio to $340.56 million.
- Portfolio value up 2.5% to $340.56 million
- Industrial rent growth fuels valuation gains
- NTA per security rises to $1.65
- Gearing steady at 28.1%
- Weighted average cap rate at 5.88%
Industrial Rent Growth Drives Portfolio Revaluation
Garda Property Group (ASX:GDF) has reported a solid $8.25 million uplift in the independent valuations of eight of its nine industrial properties as at 30 June 2026. This 2.5% increase lifts the carrying value of the portfolio to $340.56 million, reflecting sustained rent growth in Brisbane's industrial market and rising land values at key sites such as Acacia Ridge and Morningside.
Key Property Movements Highlight Market Dynamics
Among the notable valuation changes, Morningside's 326 & 340 Thynne Road properties saw a $5.19 million increase to $66.26 million, underscoring strong demand in that precinct. Acacia Ridge's 69 Peterkin Street also gained $1.65 million, while the 38-56 Peterkin Street asset experienced a $2.08 million decline, illustrating localized value shifts within the same suburb. Other properties such as Pinkenba and Wacol recorded modest valuation gains, balancing out minor decreases elsewhere.
Balance Sheet Metrics Reflect Stability Amid Growth
The unaudited net tangible assets (NTA) per security is expected to increase by five cents to $1.65, a small but meaningful boost for investors. Garda's gearing remains moderate at 28.1%, a level that suggests the group retains flexibility to manage debt while pursuing growth opportunities. The weighted average capitalisation rate across the portfolio stands at 5.88%, consistent with a stable income yield environment for industrial assets.
Garda's Brisbane Focus Continues to Pay Dividends
This valuation update follows Garda's strategic concentration on Brisbane's industrial market, a move that has seen the group shed non-core assets and focus on nine industrial properties within the city. The portfolio's rental market strength, particularly in Brisbane's logistics and industrial hubs, underpins the valuation gains and supports Garda's ongoing capital management initiatives, including its recent on-market buy-back program.
Bottom Line?
Garda's valuation uplift confirms the resilience of Brisbane’s industrial property market but investors should watch how rental growth and gearing evolve amid broader economic conditions.
Questions in the middle?
- Will the ninth property valuation align with the positive trends seen in the other eight assets?
- How might rising interest rates impact Garda’s gearing strategy and cost of capital?
- Can ongoing industrial rent growth sustain or accelerate to support further portfolio revaluations?