With the British preparing to colonize Botany Bay, the Government of Gustav III agreed to sponsor William Bolts' proposal for an equivalent colonisation venture in Nuyts Land (SW Australia), and in November 1786, William Bolts was given a contract by King Gustav III of Sweden to discover an island off the coast of Western Australia, where a Swedish colony and trading post could be established. However, the plan was shelved after Sweden became embroiled in war with Russia in the following year; Bolts was given 250 pounds for his trouble, and the proposed colony was never established.
So then, what if the contract had never been nullified, and Sweden had merely placed its Australian colonial ambitions on hold? As such, William Bolts still sets sail as the leader of a small Swedish colonial expedition in 1791, after the signing of the Treaty of Värälä, raising the Swedish flag and establishing the first trading post for the new Swedish Australian colony in the vicinity of the Swan River, on what would have been Garden Island IOTL in 1791. What would be the best case scenario for Swedish Australia ITTL?