GMT development activity exceeds $230 million

Level 2, 18 Viaduct Harbour Avenue, Auckland | PO Box 90940, Victoria Street West, Auckland 1142
Tel +64 9 375 6060 | www.goodman.com/nz

nzx release+
GMT development activity exceeds $230 million
Date 1 May 2018
Release Immediate

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.
For further information please contact:
John Dakin Andy Eakin
Chief Executive Officer Chief Financial Officer
Goodman (NZ) Limited Goodman (NZ) Limited
(09) 375 6063 (09) 375 6077
(021) 321 541 (021) 305 316

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

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.

Level 2, 18 Viaduct Harbour Avenue, Auckland | PO Box 90940, Victoria Street West, Auckland 1142
Tel +64 9 375 6060 | www.goodman.com/nz

Appendix 1

GMT Development Projects
Development 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

About Goodman Property Trust:
GMT is an externally managed unit trust, listed on the NZX. It has a market capitalisation of around $1.7 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 is 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 $2.7 billion, which accommodates around 200 customers. The Trust
holds an investment grade credit rating of BBB from Standard & Poor’s.