GMT
15/03/2016 09:44
ASSET
NOT PRICE SENSITIVE
REL: 0944 HRS Goodman Property Trust
ASSET: GMT: GMT Asset Sales Approach $125 million
Goodman (NZ) Limited, the Manager of Goodman Property Trust ("GMT" or
"Trust"), is pleased to announce further success in the Trust's sales
programme.
The office component of Connect Business Park in Penrose, Auckland has been
sold to a local investor for $40.9 million.
John Dakin, Chief Executive Officer of Goodman (NZ) Limited, said "Active
management has contributed to strong leasing results at this estate over the
last 12 months, maximising the asset value. With a sale price that reflects a
passing yield of around 7.15% the sale represents a great outcome for GMT,
generating a significant gain over its carrying value."
With almost $125 million of asset sales announced this financial year GMT is
growing organically, recycling capital into more growth orientated
development opportunities that are improving the overall quality of the
portfolio.
The sale remains conditional on a new title being issued following a minor
boundary adjustment, but is expected to settle in July 2016.
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 $1.6 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:00279265 For:GMT Type:ASSET Time:2016-03-15 09:44:08
