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GMT development activity exceeds $230 million
Goodman (NZ) Limited, the
Manager of Goodman Property Trust (“GMT” or
“Trust”), is pleased to announce the commencement of two
new industrial projects totalling $54.1
million[1].
Utilising almost four hectares of development land the preleased facilities will add 19,467 sqm of rentable area to the portfolio and generate over $3.3 million of annual income once completed.
The new commitments add to the large volume of work currently underway with the total value of these projects now $233.0 million.
Goodman (NZ) Limited's Chief Executive Officer, John Dakin said “We’re delighted to be extending our development programme with these substantial new projects. It continues the strong momentum of the last 18-24 months and further progresses the rapid build-out of our strategic land holdings.”
The projects include:
+ A
design-built warehouse facility of 14,050 sqm for
Australasian packaging specialist NCI at Savill Link in
Otahuhu
+ A 5,417 sqm warehouse expansion for
national carrier and existing customer, Move Logistics at
Highbrook Business Park.
Excluding land allocations, the
two projects require additional investment of $39.5
million.
John Dakin said, “Regional growth and the
impact of online retailing is driving demand for
well-located industrial and business space facilities across
Auckland. With portfolio occupancy of 99% we are effectively
at capacity. To alleviate the supply shortfall we are
intensifying our development programme with a combination of
build-to-lease and design-built facilities.”
A list of
these current projects is included in the appendix to this
announcement.
[1] Estimated total project cost including land allocation, construction costs and all management and other professional fees. Final costs to be determined by formal tender process.
Appendix 1
GMT Development ProjectsDevelopment Estate Location Total
Project Cost ($m) Net Lettable Area
(sqm) Announcement date Completion
date Parade units Highbrook
Business Park East Tamaki,
Auckland 16.8 5,770 Aug-17 Oct-18 Building
6 Highbrook Business Park East Tamaki,
Auckland 16.0 3,006 Mar-17 Sep-18 The
Crossing carpark Highbrook Business
Park East Tamaki,
Auckland 10.7 324(1) Mar-17 May-19 Plytech
warehouse Highbrook Business Park East
Tamaki,
Auckland 16.1 5,100 Dec-17 Nov-18 Quest
expansion Highbrook Business Park East
Tamaki,
Auckland 12.1 60(2) Mar-17 Dec-18 Gateway
warehouses Highbrook Business Park East
Tamaki,
Auckland 61.1 21,470 Aug-17 Dec-18 Move
Logistics expansion Highbrook Business
Park East Tamaki,
Auckland 15.9 5,417 Apr-18 Mar-19 Savill
Link warehouse Savill Link Otahuhu,
Auckland 16.1 8,500 Aug-17 Nov-18 NCI
warehouse Savill Link Otahuhu,
Auckland 38.2 14,050 Apr-18 May-19 Selwood
units The Concourse Henderson,
Auckland 30.2 10,933 Aug-17 Dec-18
233.0 74,246
(1) Number of
carparks
(2) Number of new apartments
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