- Release Date: 27/10/15 12:58
- Summary: ASSET: GMT: Asset Recycling Funding Development Activity
- Price Sensitive: No
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GMT 27/10/2015 12:58 ASSET NOT PRICE SENSITIVE REL: 1258 HRS Goodman Property Trust ASSET: GMT: Asset Recycling Funding Development Activity Goodman (NZ) Limited, the Manager of Goodman Property Trust ("GMT" or "Trust"), is pleased to announce further disposals as part of the Trust's asset recycling programme. The amenity and IAG buildings at 12 and 14 Show Place in Addington, Christchurch, have been sold to local investors for $33.2 million. Andy Eakin, Chief Financial Officer of Goodman (NZ) Limited, said "Ongoing asset sales are currently the preferred source of funding for new development activity. It's a successful and sustainable approach that is improving the cash earnings of the Trust while enhancing an already high quality property portfolio." The unconditional sale is expected to settle on 25 November 2015. For further information, please contact: Andy Eakin Chief Financial Officer Goodman (NZ) Limited (09) 375 6077 (021) 305 316 Michael Gimblett General Manager Property Goodman (NZ) Limited (09) 969 3742 (021) 898 838 End CA:00272335 For:GMT Type:ASSET Time:2015-10-27 12:58:52
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