GARDA Capital Limited announced that it has settled the acquisition of a 4.1 hectare industrial site located at 498 Progress Road, Wacol in Queensland for $5.9 million. GDF entered into an unconditional contract in September 2018, providing sufficient time to advance the design, zoning variation and subsequent development application prior to settlement. Allowing for the statutory assessment periods under the local council regulations, GARDA expects to receive all relevant approvals in the last quarter of the 2019 calendar year at which point it will proceed to build a modern industrial complex, to be leased and held as an investment asset by the Fund. In built form, the complex will provide up to approximately 17,000m² of lettable area across three buildings, providing the flexibility for multiple tenants in the 4,000m² to 8,000m² range. The Wacol /Richlands industrial precincts are strategically important industrial areas of Brisbane given their proximity to the major highway networks to the north, south and west. Significant investment has occurred into key road network upgrades and new local road/highway connections, including Progress Road. Furthermore, the nearby Metroplex Westgate estate provides a new commercial hub for western Brisbane, improving the amenity and an offering not previously available.