GMT
22/03/2016 11:35
GENERAL
NOT PRICE SENSITIVE
REL: 1135 HRS Goodman Property Trust
GENERAL: GMT: GMT Development Commitments Exceed $115 million
Goodman (NZ) Limited, the Manager of Goodman Property Trust ("GMT" or
"Trust"), is pleased to announce further progress in the Trust's development
programme with three new customer commitments totalling $23.1 million .
The new facilities, which will add 13,120 sqm of industrial space to the
Trust's investment portfolio, are expected to generate around $1.6 million of
annual rental income once completed.
Goodman (NZ) Limited's Chief Executive Officer, John Dakin said "Strategic
land holdings and a successful development programme are creating high
quality, award winning assets for GMT. It's a value adding activity that is
attracting new companies into the portfolio and facilitating the expansion of
our existing customers businesses. With over $115 million of new projects
announced over the last 12 months it's a successful strategy that is
delivering strong gains for our investors."
The first of the new projects is a 4,650 sqm warehouse and office facility
for EDL Fasteners, a subsidiary of the global Wurth Group, at Highbrook
Business Park. The manufacturer and distributor of industrial, construction
and general fasteners has committed to an 8 year lease over the new premises
which are scheduled to complete in December 2016.
Existing customer partnerships have facilitated two new expansion projects
for Mainstream Logistics and Scalzo Trading Company. To accommodate business
growth the two companies are expanding their current warehouse facilities at
the Trust's Savill Link and Highbrook estates in Auckland.
Scheduled to complete in August and December 2016 respectively, the two
projects have a total cost of $13.4 million.
A schedule of the nine development projects announced in FY16 (including
those announced today) is included as an appendix to this announcement.
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:00279675 For:GMT Type:GENERAL Time:2016-03-22 11:35:47
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