GMT Distribution and Goodresults Newsletter

Level 28, 151 Queen Street, Auckland | PO Box 90940, Victoria Street West, Auckland 1142
Tel +64 9 375 6060 | Fax +64 9 375 6061 | www.goodman.com/nz


nzx release+
GMT Distribution and Goodresults Newsletter
Date
23 March 2017
Release
Immediate

Further to the announcement of 22 February 2017, Goodman (NZ) Limited, the
Manager of Goodman Property Trust, is pleased to advise the third quarter distribution,
for the period ended 31 December 2016, will be paid to Unitholders today.
Copies of the covering letter and the goodresults newsletter that accompany the
distribution statement have been provided to the NZX.
For further information please contact:
John Dakin
Chief Executive Officer
Goodman (NZ) Limited
(09) 375 6063
(021) 321 541

Andy Eakin
Chief Financial Officer
Goodman (NZ) Limited
(09) 375 6077
(021) 305 316

James Spence
Director Investment Management
Goodman (NZ) Limited
(09) 903 3269
(021) 538 934

About Goodman Property Trust:
GMT is an externally managed unit trust, listed on the NZX. It has a market capitalisation of around $1.6 billion, ranking it
in the top 20 of all listed investment vehicles. The Manager of the Trust is a subsidiary of the ASX listed Goodman
Group, Goodman Group are also the Trust’s largest investor with a cornerstone unitholding of 21%.

GMT is New Zealand’s leading industrial and business space provider. It has a substantial property portfolio with a value
in excess of $2.3 billion that accommodates more than 250 customers. The Trust holds an investment grade credit rating
of BBB from Standard & Poor’s.

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Level 28, 151 Queen Street, Auckland | PO Box 90940, Victoria Street West, Auckland 1142
Tel +64 9 375 6060 | Fax +64 9 375 6061 | www.goodman.com/nz




23 March 2017

[Unitholder Name]
[Address 1]
[Address 2]
[Address 3]
[Address 4]

Dear Unitholder

GOODMAN PROPERTY TRUST (“GMT” and “Trust”)
Goodman (NZ) Limited, the manager of GMT, is pleased to advise Unitholders that
the third quarter distribution, for the period ended 31 December 2016, has now been
paid.
The distribution included 1.6625 cents per unit paid in cash with an additional 0.4581
cents per unit in imputation credits.
If you have any questions about your distribution payment please contact our
registrar, Computershare Investor Services. The telephone number is 0800 359 999
for calls originating within New Zealand or +64 9 488 8777 for international enquiries.
Unitholder newsletter
Also enclosed with this distribution notice is the latest goodresults newsletter. I
encourage you to read it to learn more about the Trust’s recent development
initiatives and progress with the sales programme.
Yours faithfully,

Keith Smith
Chairman

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Strong occupier demand and historically
low vacancy levels are supporting a
heightened level of development activity
across all GMT’s industrial estates.
Chief Executive Officer, John Dakin
said “With sustained economic
growth and latent demand from
customers contributing to the
lift in portfolio occupancy, it is
the right time to be intensifying
the development programme at
Highbrook Business Park.”
With a current value in excess
of $1.0 billion, Highbrook is
GMT’s largest investment asset.
Around 70% through its planned
development the 110 hectare
estate features more than
40 buildings, providing over
380,000 sqm of warehouse and
office space.
The Trust has recently announced
two new industrial projects to take
advantage of the positive customer
demand and strong market
conditions that currently exist.
They include:
+ A multi-unit showroom
and warehouse facility of
1,730 sqm on Highbrook Drive
+ A 2,929 sqm warehouse
located on Pukekiwiriki Place
The adjoining showroom units
have a dramatic frontage with
full height windows facing onto
Highbrook Drive, providing
exposure to 30,000 commuters
per day. The new warehouse
facility, which is of a size and
design that is likely to appeal to a
wide range of occupiers, is also
expected to lease quickly.
With GMT’s industrial portfolio
recording an occupancy rate of
100% these new developments,
which have a total project cost
of $14.1 million, continue the
New industrial
developments
for Highbrook+
Artist impression of the planned Showroom and Warehouse Units, Highbrook
highly successful build-to-lease
programme that is delivering
much needed capacity into
a very constrained Auckland
industrial market.
“ Completing the development programme at Highbrook is a key priority and
with new industrial facilities being delivered on a rolling basis to meet demand,
these latest projects continue the momentum. With most projects leasing well
before completion it’s an effective strategy that is growing cash earnings and
improving an already high quality property portfolio.” John Dakin
Goodman Property Trust Newsletter Issue #5 March 2017
features+
Highbrook
|
The Crossing
|
KiwiHarvest
|
Repeat Business
|
Service Award
|
Highbrook Rotary Fun Run
|
Portfolio Refinement
|
GMT Key Metrics
goodresults+
www.goodman.com/nz

Goodman Property Trust Newsletter — page 2 goodresults+ Issue #5 March 2017
KiwiHarvest Opens Auckland Headquarters+
The Crossing is the commercial heart of
Highbrook, providing accommodation, business
support services, food and hospitality options,
together with other amenity and recreational
opportunities for estate customers and others
within the East Tamaki catchment area.
John Dakin said “Following the success of the recently completed
Building 5 we are now commencing another new office facility and
developing an adjoining multi-storey carpark.”
The new projects, which have a total project cost of $26.7 million,
will add 3,009 sqm of office space and 324 car parks to The Crossing,
intensifying its use and providing capacity for future development
stages.
The Trust is also investigating the requirement for additional serviced
apartments at The Crossing. A shortage of visitor accommodation in
Auckland and high occupancy levels at the existing Quest facility are
the catalysts for a possible expansion.
its food rescue contributions.
Constructed from repurposed
shipping containers the new
premises reflect the recycling
and sustainability themes that
characterise KiwiHarvest.
Developed by Goodman with
the assistance of consultants,
suppliers, trade staff and others
the project was a collective effort
acknowledged in the speeches
lead by Chairman David Kirk.
To learn more about KiwiHarvest
or if you’d like to contribute
check out the website at
www.kiwiharvest.org.nz
Attended by almost 100 dignitaries
and other supporters, the official
opening of the new KiwiHarvest
HQ in February was a celebration
of the important work undertaken
by Auckland’s new food rescue
programme.
The not-for-profit organisation,
founded by Chief Executive Officer
Deborah Manning in Dunedin
in 2012, collects quality surplus
fresh food from supermarkets,
wholesalers, growers, cafes and
caterers, delivering it to local
charities who then distribute it to
people in need.
Since beginning operations
KiwiHarvest has delivered the
equivalent of 750,000 meals
to over 100 charities – this has
saved over 260 tonnes of good
food from landfill. While food
rescue is its core focus, education
and engaging communities are
also strategic objectives.
Goodman has been a key
supporter of KiwiHarvest
facilitating its expansion into
Auckland, helping the social
venture reach more people in
need.
The new warehouse/distribution
and office facility at Central Park
Corporate Centre in Greenlane
will provide the platform for the
organisations plans to double
Left: John Dakin
Right: David Kirk – KiwiHarvest Chairman, Phil Goff – Auckland Mayor, and Deborah Manning – KiwiHarvest CEO
The Crossing, Highbrook
Further Commercial Stage at The Crossing+

Big Chill’s loading docks, Highbrook
Goodman Property Trust Newsletter — page 3 goodresults+ Issue #5 March 2017
Supported by sustained economic growth,
many businesses are taking advantage of
their existing relationship with Goodman to
secure new design-built property solutions.
Specialist logistics operator Big
Chill is a repeat customer, with
GMT having completed three
cool stores for the company in
Auckland and Christchurch over
the last 10 years. The newest
facility has just completed on
Pukekiwiriki Place at Highbrook
Business Park and features:
+ a 6,605 sqm chiller, freezer and
environmental loading area
+ 15 loading docks and
extensive yard areas
+ an adjoining office facility of
1,460 sqm
CODA, a leading New Zealand
freight management company, is
another customer whose business
growth is being facilitated by the
Trust.
The new road and rail facility
at Savill Link in Otahuhu is the
first stage in the development
of an intermodal freight hub
serving the upper North Island.
The development includes
the expansion of an existing
warehouse facility and the
construction of rail siding and
freight canopy, providing direct
access to KiwiRail services along
the main trunk line.
It provides CODA clients with a
full logistics solution that includes
transport, product warehousing,
cross-dock facilities, loading and
devanning, container storage and
hire. With further expansion rights
taken, the new facility is already
being extended by a further
8,000 sqm.
Goodman
(NZ) CEO
receives
Service
Award+
In the recent Auckland
Property Awards, John Dakin
received the BSA Law Award
for Service in recognition of
his significant contribution to
the property industry.
John’s experience extends
the breadth of the industry,
having worked in corporate
transactions, valuation,
research, asset management
and investment management
both here and abroad.
Dillon Photography – www.dillon.co.nz
Repeat
Business+
CODA rail siding, Savill Link
“ Strategic land holdings and a
successful development programme
are creating high quality, award
winning assets for GMT. It’s a value
adding activity that is attracting
new companies into the portfolio
and facilitating the expansion of our
existing customers businesses.”
John Dakin

600-604 Great South Road, Auckland
Goodman Property Trust Newsletter — page 4 goodresults+ Issue #5 March 2017
Highbrook
Rotary
Fun Run+
Sponsored by Goodman and
Highbrook customers the
Fun Run held on February 22
was a great success.
Over 500 participants ran or walked the 5km/10km
parkland course with proceeds going to the
Middlemore Foundation and Kidz First. Goodman
fielded a large team for the event, with four top 10
finishers in the 10km run. With Highbrook customers
such as Altus, ANZ, BNZ, Chandler Macleod,
KiwiBank, OfficeMax, Quest, RSM, Waipuna and
Wynyard Wood all participating it was a highly
competitive race.
Having grown significantly over the past four years
it was another successful, well-run event organised
by the Highbrook Rotary Club.
INVESTOR
CENTRE
The Trust’s website
www.goodman.com/nz
enables Unitholders and
Bondholders to view
information about their
investment, download
investor forms, check current
prices and view publications
and announcements.
This document has been prepared by Goodman (NZ) Limited as manager of Goodman Property Trust. The information in this document is general information only. It is not intended as investment or financial advice and must not be relied upon as such.
You should obtain independent professional advice prior to making any decision relating to your investment or financial needs. This document is not an offer or invitation for subscription or purchase of securities or other financial products.
Past performance is no indication of future performance. All values are expressed in New Zealand currency unless otherwise stated. March 2017.
GMT
portfolio
metrics+
130,386 sqm
new leasing
$85.0 million
new development
projects
5.5 years
weighted average
lease term
97. 4 %
occupancy
An active sales programme is reducing debt and
providing funding capacity for GMT’s development
and investment activity. It’s a strategy that is
improving the quality of the portfolio and increasing
investment in the favoured Auckland industrial
market, a sector that is expected to deliver
superior growth.
Further sales success has been achieved in recent
weeks with the sale of the commercial buildings and
associated development land at 1 Show Place in
Addington, Christchurch for $14.0 million.
This most recent sale brings the total value of sales
for the 2017 financial year to almost $280 million.
The largest of these transactions being the disposal
of the Millennium and Yellow HQ office properties
at 600-604 Great South Road in Auckland, for
$210 million.
To facilitate that transaction GMT has subscribed
for $12 million of units in the property syndicate
that now owns the asset. The Trust will hold the
investment for a maximum period of two years and
expects to receive an annual return of 8%.
The Goodman Team
Portfolio Refinement+
INVESTOR
CENTRE