GMT
10/02/2016 09:28
ASSET
NOT PRICE SENSITIVE
REL: 0928 HRS Goodman Property Trust
ASSET: GMT: GMT Acquires Strategic Asset
Goodman (NZ) Limited, the Manager of Goodman Property Trust ("GMT"), is
pleased to announce that GMT has acquired a multi-tenanted industrial
property in Glen Innes, Auckland for $30.3 million.
Located at 127-131 Pilkington Road, adjacent to the eastern railway line in
an area designated by Auckland Council for high density redevelopment, the
5.8 hectare site currently provides 20,400 sqm of functional warehouse and
showroom space.
John Dakin, Chief Executive Officer of the Manager said, "This is a strategic
acquisition in the heart of the Tamaki Regeneration Area. Positioned to
benefit from the new AMETI transport initiative there is immediate
opportunity to add value with longer term options provided by the sites
mixed-use zoning under the Proposed Unitary Plan."
The property is expected to provide a passing yield in excess of 6% once new
leasing initiatives are completed.
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
About Goodman Property Trust:
GMT is an externally managed unit trust, listed on the NZX. It has a market
capitalisation of around $1.5 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 20.62%.
GMT is New Zealand's leading industrial and business space provider. It has a
substantial property portfolio with a value in excess of $2.1 billion that
accommodates more than 250 customers. The Trust holds an investment grade
credit rating of BBB from Standard & Poor's.
End CA:00277420 For:GMT Type:ASSET Time:2016-02-10 09:28:41
