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- Release Date: 01/08/12 16:08
- Summary: GENERAL: GMT: GMT Secures PlaceMakers at Glassworks
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GMT
01/08/2012 14:08
GENERAL
REL: 1408 HRS Goodman Property Trust
GENERAL: GMT: GMT Secures PlaceMakers at Glassworks
Goodman (NZ) Limited, the Manager of Goodman Property Trust ("GMT" or
"Trust"), is pleased to announce a new development commitment at Glassworks
Industry Park in Christchurch.
PlaceMakers, a leading brand in the building materials and hardware business
has committed to a new 2,745 sqm trade outlet at the Trust's industrial
estate in Hornby.
To facilitate the sale of its building products range the new outlet will
feature an extensive trade store with a drive-through warehouse and
associated yard area.
The nine year lease is set at market rentals and has a fixed review structure
together with further rights of renewal. The customer has expansion rights
over adjacent land for four and a half years.
Scheduled to complete in April 2013, the project has an estimated total cost
of $5.0 million (including land, construction costs and all professional
fees), providing an initial yield of 8.5%.
Goodman (NZ) Limited's Chief Executive Officer, John Dakin said "We are
extremely pleased to be advancing our development programme in Christchurch
and look forward to extending our relationship with Fletcher Building
Limited, a company that is already a significant customer in our Auckland
portfolio."
PlaceMakers is the trading name of Fletcher Distribution Limited, the retail
trading arm of Fletcher Building Limited in New Zealand.
For further information please contact:
John Dakin
Chief Executive Officer
Goodman (NZ) Limited
(09) 375 6063
(021) 321 541
Andy Eakin
Chief Financial Officer
Goodman (NZ) Limited
(09) 375 6077
(021) 305 316
End CA:00225549 For:GMT Type:GENERAL Time:2012-08-01 14:08:21
