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- Release Date: 19/06/12 13:39
- Summary: GENERAL: GMT: GMT Commences New Office Development
- Price Sensitive: No
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GMT
19/06/2012 11:39
GENERAL
REL: 1139 HRS Goodman Property Trust
GENERAL: GMT: GMT Commences New Office Development
Goodman (NZ) Limited, the Manager of Goodman Property Trust ("GMT" or
"Trust"), is pleased to announce further development progress with the
commencement of a new office facility.
With increasing levels of business activity expected to lift demand from
office occupiers over the next few years, a new 5,340 sqm office building is
to be developed on an uncommitted basis at Central Park Corporate Centre in
Greenlane.
The premium office space is ideally suited to large corporate occupiers
although its flexible configuration will accommodate a range of businesses
seeking high quality space.
Goodman (NZ) Limited's Chief Executive Officer, John Dakin said "Our business
is continuing to attract strong levels of customer enquiry and we are
extremely pleased to be commencing the next phase of development at this
strategically located office park."
Situated at the front entrance of the estate, the new low rise building will
incorporate sustainable design elements and feature 1,400 sqm floorplates
together with a lobby cafe.
Scheduled to complete in July 2013, the development has a forecast total
project cost of $21.4 million (including land, construction costs and all
professional fees). At current market rentals the development is expected to
provide a yield on cost of 9.5% once fully leased and income producing.
John Dakin said, "With low levels of vacancy in prime stock throughout the
southern corridor, the new office building is one of the few alternatives for
businesses seeking high quality office accommodation. It extends the range of
options available to our customers and reinforces the Trust's leading
position in the Greenlane office precinct."
With limited competing supply the timing of the development also allows the
Trust to take advantage of the competitive construction pricing that
currently exists.
For further information please contact:
Murray Barclay
General Manager Property
Goodman (NZ) Limited
(09) 969 3743
(021) 767 424
Andy Eakin
Chief Financial Officer
Goodman (NZ) Limited
(09) 375 6077
(021) 305 316
Attachments provided to NZX:
1. Central Park Corporate Centre - Artists impression
2. Central Park Corporate Centre - Perspectives
3. Central Park Corporate Park - Site Plan
End CA:00224027 For:GMT Type:GENERAL Time:2012-06-19 11:39:28
