Ann: ASSET: GMT: GMT Sells 120 Pavilion Drive for

• Release Date: 12/06/12 17:00
• Summary: ASSET: GMT: GMT Sells 120 Pavilion Drive for $8.1 million
• Price Sensitive: No
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GMT
12/06/2012 15:00
ASSET

REL: 1500 HRS Goodman Property Trust

ASSET: GMT: GMT Sells 120 Pavilion Drive for $8.1 million

Goodman (NZ) Limited ("GNZ"), the Manager of Goodman Property Trust ("GMT"),
is pleased to announce the sale of 120 Pavilion Drive, Mangere.

The stand-alone warehouse is being sold to an owner occupier for $8.1
million. The sale price represents a small premium to the March 2012
valuation of $7.8 million.

John Dakin, Chief Executive Officer of GNZ, said "The sale demonstrates the
flexibility of our capital management strategy. It allows us to take
advantage of a strengthening investment market to recycle capital out of less
growth orientated assets into the Trust's value adding development
programme."

The unconditional sale is expected to settle in October 2012.

For further information, please contact:

John Dakin
Chief Executive Officer
Goodman (NZ) Limited
(09) 375 6063
(021) 321 541

Murray Barclay
General Manager Property
Goodman (NZ) Limited
(09) 969 3743
(021) 767 424
End CA:00223779 For:GMT    Type:ASSET      Time:2012-06-12 15:00:08