Why did Britain colonise Australia?

I'm sure the loss of the American Colonies had something to do with it. Before Australia, Georgia was Britain's penal colony. Also, Britain depended on America for certain items, namely naval stores (lumber, turpentine, tar) to keep its navy the strongest in the world. With the loss of America, Britain would want a new colony to get these goods other wise its relying on an enemy such as Russia or Germany for them.