Goodman Property Trust delivers strong financial results

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Goodman Property Trust delivers strong financial results

Date 7 August 2013
Release Immediate

With a proven development capability and substantial land holdings in Auckland and Christchurch, we heard at NZX-listed Goodman Property Trust’s Unitholder meeting yesterday how it has established itself as one of the country’s leading industrial and business space providers.

Strategic land holdings and an active development programme have added over 500,000 sqm of new space to the Trust’s portfolio since 2004. A large proportion of this activity has been at Highbrook where occupier enquiry remains high.

“We’ve commenced more than $38 million of new projects over the last 15 months and have completed new facilities for Panasonic and Stanley Black and Decker” says John Dakin, Chief Executive Officer.

Some of the most recent demand has come from existing customers who located to Highbrook in the earliest stages of its development and are now initiating expansion options to increase the size of their facilities. These customers include Big Chill, Contract Logistics and Viridian.

Scheduled to complete in just a few weeks’ time, the Crossing is expected to become a focal point for the estate, providing amenity and support services for the surrounding business users.

The Trust has also been successful at Central Park Corporate Centre in Greenlane where the new, $21.4 million, low rise office project has been fully leased ahead of its completion. Leasing commitments from Genesis Energy and Restaurant Brands have ensured this high quality and environmentally efficient building will be 100 percent occupied when it is completed later this month.

The Trust announced at the Meeting a new $9.7 million warehouse for MOVE Logistics, locating to Glassworks Industry Park, Christchurch. The 5,805 sqm purpose built facility means The Trust has committed over 30,000 sqm of new development projects (with a total cost of almost $45.0 million) in the four months since March.

“There is a new momentum in our business and we’re accelerating our development programme to take advantage of it. We are positioned for growth and look forward to the year ahead where we hope to deliver an even stronger financial and operational result.” says Dakin.

ENDS

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