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- Release Date: 06/08/13 14:12
- Summary: GENERAL: GMT: New Logistics Customer for GMT
- Price Sensitive: No
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GMT
06/08/2013 12:12
GENERAL
REL: 1212 HRS Goodman Property Trust
GENERAL: GMT: New Logistics Customer for GMT
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.
MOVE Logistics, a contract warehousing specialist with operations in Auckland
and Christchurch, has committed to a new 5,805 sqm purpose-built facility at
the Trust's industrial estate in Hornby.
The new project builds on recent development progress with leading customers
such as Big Chill, Bridgestone, Contract Logistics, Trio and Viridian all
committing to new facilities since the Trust's 31 March 2013 balance date.
Goodman (NZ) Limited's Chief Executive Officer, John Dakin said "We are
extremely pleased to be welcoming another established logistics operator into
the portfolio and to be further advancing our development programme."
Scheduled to complete in May 2014, the project has an estimated total cost of
$9.7 million, providing an initial yield of 8.1%.
The eight year lease is set at market rentals and has a structured review
mechanism together with two further rights of renewal of five years each.
For further information please contact:
John Dakin
Chief Executive Officer
Goodman (NZ) Limited
(09) 375 6063
(021) 321 541
About Goodman Property Trust:
GMT is New Zealand's leading industrial and business space provider. It has a
substantial property portfolio, with a value in excess of $2.0 billion, that
accommodates more than 250 customers.
It is a high quality business with an investment grade credit rating of BBB
from Standard & Poors.
GMT is an externally managed unit trust, listed on the NZX. It has a market
capitalisation in excess of $1.2 billion, ranking it in the top 15 of all
listed investment vehicles. The Manager of the Trust is a subsidiary of the
ASX listed Goodman Group, Goodman Group are also the Trust's largest investor
with a cornerstone unitholding of 17.5%.
End CA:00239335 For:GMT Type:GENERAL Time:2013-08-06 12:12:24
