GMT’s Valuation Adds $115 Million To Portfolio Value
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’s Valuation Adds $115 million To Portfolio Value
Date 27 March 2017
Release Immediate
Goodman (NZ) Limited, the Manager of Goodman Property Trust (“GMT” or
“Trust”), has confirmed that GMT’s financial result for the year ending 31 March
2017 will contain a significant property revaluation.
Draft valuation reports from independent valuers indicate that GMT’s property portfolio
will record a full year gain of around $115 million, or approximately 5%.
The positive result means the portfolio has a current value of more than $2.4 billion
1
.
John Dakin, Chief Executive Officer said, “Continued demand for high quality industrial
property is reflected in the strength of this valuation result. The resulting lift in property
values is expected to add around 7.5 cents per unit to GMT’s Net Tangible Asset
backing, which was $1.22 per unit at 30 September 2016.”
The revaluation remains subject to finalisation and independent audit. Further details
will be provided with the Trust’s FY17 annual result announcement on 18 May 2017.
Contact details:
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
of more than $2.4 billion that accommodates more than 250 customers. The Trust holds an investment grade credit
rating of BBB from Standard & Poor’s.
1
On a proportionately consolidated basis, including GMT’s 51% interest in the Wynyard Precinct
Holdings Limited joint venture.
Data sourced from publicly available filings. Our datasets may not be complete. Automated analysis can produce errors. If you believe any data on this page is incorrect, please contact us at hello@nzxplorer.co.nz. For informational purposes only. Not investment advice.
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