Triple success for Goodman as European development pipeline...

Triple success for Goodman as European development pipeline expands. This can only mean good news for GMG investors imo.

HONG KONG, May 13 /PRNewswire-Asia/ -- Goodman, the integrated property group which owns, develops and manages business and logistics space globally, has increased its development activity in Europe with the announcement of more than 45,000 sqm of pre-committed logistics developments, consisting of:

-- 21,000 sqm at Munich Airport Logistics Centre in Germany;
-- 17,000 sqm at Ullo Airport Logistics Centre in Hungary, and;
-- 7,875 sqm at Venlo in the Netherlands.
In Germany, Goodman has commenced the construction of a 21,000 sqm bespoke warehouse at Goodman's Munich Airport Logistics Centre in Langenbach for leading transport and logistics provider DSV. Scheduled for completion at the end of July 2010, the Langenbach development marks DSV's third lease agreement with Goodman in Europe.

Goodman has also secured the option to develop an additional 15,000 sqm of logistics warehouse space on a site adjacent to the Munich Airport Logistics Centre.

Goodman has also confirmed a new lease agreement with Oriflame in Hungary, as part of the second phase of development for the Ullo Airport Logistics Centre situated in Ullo, south of Budapest. The leading Swedish manufacturer of high quality cosmetics has leased 16,000 sqm of warehouse space and an additional 1,000 sqm of office space. Construction began in February 2010, with an expected completion date in August 2010.

The Ullo site has significant future development potential which will be undertaken in phases. On final completion, the entire logistics centre will offer 155,000 sqm of high specification warehouse, office and amenity space.

Separately, Goodman and medical technology company, Stryker have underlined their commitment to sustainability with the announcement that a new BREEAM-certified warehouse will be developed at Venlo in the Netherlands. The 7,875 sqm distribution centre, which has been designed to meet both environmental and economic sustainability criteria, will be one of the first buildings in the Netherlands to receive the internationally recognised BREEAM sustainability certification. Construction is scheduled for completion in November 2010.

"We are excited about the new distribution centre in Venlo," says Laura Piccinini, President of Stryker Europe. "Goodman made it possible to develop a distribution centre which is built for the future growth that we expect for our company. This centre will support us in delivering the best results to our customers and in addition, the distribution centre reflects our commitment to environmental and social sustainability."

Danny Peeters, Chief Executive Officer, Continental Europe said: "Goodman's European development programme is moving forward and performing well. These new pre-committed developments further demonstrate our expertise and ability to deliver tailor made solutions for our clients in strategic locations across Europe. As conditions become more favourable, we are continuing to see a marked increase in enquiries from companies that are reviewing their existing business requirements and seeking high quality logistics and office space."

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