GMT Extends Savill Link With $70 Million Acquisition

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 Extends Savill Link With $70 million Acquisition
Date
18 September 2020
Release
Immediate
Goodman (NZ) Limited, the Manager of Goodman Property Trust (“GMT” or
“Trust”), is pleased to announce the purchase of certain properties on Savill
Drive and Alderman Place in Otahuhu, for $70 million.
The properties, which encompass 13.3 hectares of land area, adjoin the Trust’s Savill
Link industrial estate.
John Dakin, Chief Executive Officer of the Manager said, “These strategic acquisitions
will facilitate the expansion of Savill Link. Adjoining the estate, and with direct rail
access, the new acquisitions provide the Trust with a future development pipeline in a
proven logistics location.”
Currently leased as yard space, with a weighted average lease term of 4.2 years, the
light-industrial zoned sites are expected to support the development of 70,000 sqm of
new industrial space over time.
John Dakin said, “Realising the development potential of these new sites will extend
Savill Link into a 44.8-hectare distribution hub, providing over 200,000 sqm of high-
quality logistics space.”
The unconditional acquisition, which reflects a passing yield of 2.8%, is expected to
settle in late September 2020.
With a low level of debt and substantial liquidity following its recent wholesale bond
issue, GMT retains significant funding capacity for further strategic acquisitions.
For further information please contact:
John Dakin Andy Eakin
Chief Executive Officer Chief Financial Officer
Goodman (NZ) Limited Goodman (NZ) Limited
(021) 321 541 (021) 305 316

James Spence
Director Investment Management
Goodman (NZ) Limited
(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 $3.3 bil lion, ranking it
in the top 20 of all listed investment vehicles and is New Zealand’s largest listed property investment vehicle. 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 space provider. It has a substantial property portfolio, with a value of $3.1
billion. The Trust holds an investment grade credit rating of BBB from S&P Global Ratings.

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:
Aerial image showing Savill Link and adjoining acquisitions, in Otahuhu.