GMT Distribution Payment

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 Distribution Payment
Date 18 March 2021
Release Immediate
Further to the announcement of 12 February 2021, Goodman (NZ) Limited, the
Manager of Goodman Property Trust, is pleased to advise that the third quarter
distribution, for the period ended 31 December 2020, will be paid to Unitholders today.
The latest edition of the Trust’s electronic newsletter, GoodResults, has also been
released. A copy of the newsletter is attached to this announcement and can be viewed
online at:
https://bit.ly/3t80ciJ
For further information, please contact:
Andy Eakin
Chief Financial Officer
Goodman (NZ) Limited
(021) 305 316

About Goodman Property Trust:
GMT is an externally managed unit trust, listed on the NZX. It has a market capitalisation of around $3.1 billion, ranking it
in the top 20 of all listed investment vehicles. It is also New Zealand’s largest listed property investor. The Manager of
the Trust is a subsidiary of the ASX listed Goodman Group, Goodman Group is also the Trust’s largest unitholder with a
cornerstone investment of 21%.

GMT is New Zealand’s leading warehouse and logistics space provider. It has a substantial property portfolio, expected
to have a value of around $3.8 billion at 31 March 2021. The Trust holds an investment grade credit rating of BBB from
S&P Global Ratings.

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




18 March 2021

[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 year ending 31 March 2021, has now been paid. The
distribution includes a cash component of 1.325000 cents per unit with 0.284517 cents
per unit of imputation credits attached.
If you have any questions about your distribution payment please contact our registrar,
Computershare, by telephone 0800 359 999 (within New Zealand) or +64 9 488 8777
(outside New Zealand).
GoodResults newsletter
The latest edition of the Trust’s electronic newsletter, GoodResults, is now available
online at https://bit.ly/3t80ciJ

I encourage you to read the newsletter. It includes further information on:
+ the redevelopment of Roma Road Estate
+ a recent property award for Savill Link
+ new Board appointments
+ key portfolio metrics and other business indicators
+ the work of the Goodman Foundation.
Yours faithfully,

Keith Smith
Chairman

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Logistics space
for the world’s
greatest ambitions
Nau mai, Haere mai Welcome
GoodResults+
Goodman Property Trust Newsletter
MARCH 2021 | ISSUE 1 2
|
Highbrook Business Park, Auckland

“ Roma Road will set a new quality benchmark for industrial
property in New Zealand. Sustainable design, focused
on the wellbeing of our customers, will create healthy,
productive workspaces that are unrivalled in our market.”
John Dakin
Roma Road Estate is being redeveloped into a 42,000 sqm inner city distribution hub. Building materials from the original facilities,
which date from the 1960’s, will be recycled and adaptively re-used during construction.
GMT’s Roma Road Estate
is being transformed into
a major urban-logistics
hub for Auckland
With changing consumer behaviour
driving the rapid growth in
e-commerce, the brownfield site in
Mt Roskill is being redeveloped to help
meet demand for strategically located
distribution space across the city.
John Dakin, Chief Executive Officer said, “We’re
creating a modern logistics hub that maximises the
site’s inner-city location. Close to consumers and
with direct access to Auckland’s motorway network,
it’s an excellent position for fulfilment businesses
focused on last mile delivery.”
A growing online marketplace is being reflected in
strong leasing demand for operationally efficient
and well-located distribution facilities.
John Dakin said “Facilities that offer customers
a competitive advantage are highly sought after.
With almost no vacancy and sustained demand for
fulfilment services, the urban-logistics segment of
the Auckland industrial market is growing rapidly.
It’s  also where we are focusing our investment.”
The masterplan for Roma Road includes the
development of four separate warehouses,
providing over 42,000 sqm of high-quality
distribution space. Construction will be staged
to  meet demand with the estate expected to have
a value well in excess of $200 million once fully
developed.
John Dakin said, “Targeting a Green Star rating of
at least five stars, the new buildings are expected
to feature the latest design innovations, including
sustainable building materials and new energy
efficient technologies.”
NZ Post will anchor the redevelopment, committing
to a new 17,700 sqm design-build property solution.
The project is a continuation of a successful
partnership between the two businesses, with the
customer already occupying five separate facilities
across the portfolio.
Greg Morris, Group Property and Procurement
Manager for New Zealand Post said “E-commerce
has created huge demand for NZ Post’s logistics
and delivery services. New Zealanders have
embraced the convenience and safety of online
shopping, making around $5.8 billion of online
purchases in 2020.”
Last year NZ Post delivered over 85 million parcels
and expectations are that these volumes will
continue to grow.
Greg Morris said, “A more automated network, that
includes our new site at Roma Road, is part of a
wider business strategy to accommodate the rapid
growth in parcel volumes.”
GoodResults+
Goodman Property Trust Newsletter
MARCH 2021 | ISSUE 1 2 | Page 2
Waterview Tunnel
SH20
to SH1 and Airport 
Click here to read eCommerce Spotlight,
New  Zealand Post’s update on online
shopping trends.

Own
Asset value OccupancyNew leasing
Preliminary advice indicates that GMT
will record an annual valuation uplift
of around $550 million, increasing the
Trust’s Auckland industrial portfolio
value to around $3.8 billion at
31  March 2021.
Strong demand from customers
seeking well located, urban logistics
space has helped maintain GMT’s
occupancy rate above the five year
average of 98%.
Around 12% of the portfolio has been
leased on new or revised terms since
1 April 2020. As a result, the weighted
average lease term is more than
five  years.
$3.8 bn98.5%131,241 sqm
Develop
Work in progressProject completionsDevelopment pipeline
Includes five development projects
currently underway. In addition, a
10,000sqm build-to-lease project
is ready to commence at Highbrook
Business Park once a customer
pre-commitment is secured.
Six projects adding almost 30,000 sqm
to the portfolio have been completed
year-to-date. With a total project cost
of almost $80 million they provide a
yield on cost of 6.4%.
Acquiring strategic sites around
the Trust’s Mt Wellington and Savill
Link industrial estates during the
year has added future development
capacity  in key logistics and
distribution locations.
$141 . 5 m$79.9 m
200,000+ sqm
Manage
Portfolio size Customer relationships Investor base
GMT’s eleven large estates include
more than 150 buildings. The
1.1  million  sqm of warehouse and
distribution space generating around
$150 million of annual rental income.
GMT’s 200 customers are
predominantly warehouse and
distribution focused businesses.
The  five largest are CODA , DHL,
Fletcher  Building, NZ Post and
OfficeMax.
Total offshore investment in GMT is
around 43.1%. The level of investment
is broadly consistent with  other
New  Zealand equities, which average
39% foreign ownership, according to
JBWere.
1.1 million sqm200+57% local
GMT at
a glance
GoodResults+
Goodman Property Trust Newsletter
MARCH 2021 | ISSUE 1 2 | Page 3

Board changes
While operational performance has been
the focus of the last 12 months, positive
progress has also been made with the
Board renewal programme. First signalled
in 2019, the governance initiative will ensure
the tenure of independent directors is
aligned with recommended best practice.
After more than 10 years of valued service,
independent directors Peter Simmonds
and Susan Paterson are retiring, effective
31  December 2020 and 31  March 2021
respectively.
Laurissa Cooney and David Gibson, two
highly capable professional directors have
been appointed in recent months. The
refreshed Board maintains its majority of
independent directors and will continue to
provide strong direction to guide the next
phase of GMT’s growth.
|
The warehouse and office areas were developed to a superior standard.
|
The large canopy and yard areas were designed to allow for easy truck access with a one-way circulation system.
|
The warehouse also includes dedicated areas for dangerous goods together with charging stations for the electric forklifts.
|
The warehouse and office areas were developed to a superior standard.
Award winning properties
GMT’s latest development project at Savill Link received an excellence award
in the industrial category at the 2020 Property Council of New Zealand Awards.
The prestigious property industry event was held at
Spark Arena on 12 November 2020 and attracted
115  entries across 12 categories.
GMT’s award-winning project was the new
purpose-built facility for NCI Packaging. The
privately owned Australasian business is a key
supplier and product partner to many of the region’s
leading aerosol, food and paint brands.
Located on a high-profile site at Savill Link Industry
Park in Ōtāhuhu, the 14,206 sqm development was
designed to meet the customer’s manufacturing,
storage and distribution requirements with adjoining
office space for business administration.
Collaboration throughout the project – from design
concept through to construction and operation
ensured the high-quality facility was fit for purpose for
NCI while maintaining long term value for Goodman.
William Main, Development Director for Goodman
said, “We’re proud of the positive impact the project
has had on the customer’s business. High-quality,
bespoke workspaces have created operational
efficiencies and a superior work environment for
N CI  staf f.”
The new building has improved workspace efficiency,
lifting productivity while enhancing the comfort and
well-being of its occupants. Design flexibility ensures
the building can be reconfigured for dual or even
multiple occupancy in the future if required.
The development had a total
project cost of $38.2 million
with NCI Packaging
committing to a 15-year
lease over the new facility.
GoodResults+
Goodman Property Trust Newsletter
MARCH 2021 | ISSUE 1 2 | Page 4
Click here to link to the biographies
of the Goodman (NZ) Limited Board
Laurissa Cooney
Independent Director
David Gibson
Independent Director

Through industry connections and development projects many members of 
the Goodman team have close links with Mark Taylor, a business unit manager
with Dempsy Wood Civil Limited.
Mark was the driving force behind that’s how
we row, a recent fundraising initiative that raised
$100,000 for the New Zealand Heart Foundation.
Despite living with physical disabilities associated
with a rare neurological disorder Mark set himself
the challenge of completing 100km on a rowing
machine in under eight hours. The aim of the
event was to raise awareness of heart disease
and provide financial support for research and
cardiologist training.
Other supporters joined Mark on the epic challenge
at the Auckland Rowing Club on 6  November  2020.
Goodman’s team included support crew and
rowers participating in a relay effort that completed
the 100km in just 6 hours and 22 minutes. With
donations, fundraising and Goodman Foundation
support the team contributed around $10,000 of
the  $100,000 that was raised.
Supporting young athletes
Going the distance
Through its sponsorship of the Tania Dalton
Foundation Goodman is funding a scholarship for
young athletes whose circumstances limit their
sporting opportunities.
Set up to celebrate the legacy of an inspirational sportswoman the
organisation provides a mentoring and training programme that
helps award recipients achieve their potential, develop as people
and contribute positively to their communities.
Sharne Pupuke-Robati was one of the inaugural award recipients
in 2018. A promising basketballer, netballer and track and field
athlete Sharne has recently completed the three-year scholarship
programme. Her focus on basketball taking her to Utah State
University, where she has played in the US college competition,
and  onto higher honours in our own national basketball league.
The scholarship class of 2021 has now been selected and
Goodman is delighted to be paired with young rugby player
Luisa Togotogorua from Takanini. Luisa was a member of
the Auckland Storm Farah Palmer cup team in 2020.
GoodResults+
Goodman Property Trust Newsletter
MARCH 2021 | ISSUE 1 2 | Page 5
Click here to learn more about the
Tania Dalton Foundation.
www.taniadaltonfoundation.org.nz
Click here to read learn more about Mark Taylor.
That’s How We Row! – Givealittle.co.nz
Sharne Pupuke-Robati is s pictured
above with Tim Fitzsimmons, Portfolio
Manager, celebrating the completion of her
scholarship in 2020.
L E F T: Goodman team members: Dani Kinnen, Tim Fitzsimmons, Phil Crampsie, Craig  Stephens,
Ben Shaw, Luke Schuler and Bruno Warren.
R I G H T: Mark Taylor completing the epic challenge.
With around 110 businesses located
at Highbrook, GMT’s largest estate
hosts a daily workforce of more
than 5,500 people.
Highbrook heroes is an initiative that recognises
individuals who make a positive contribution
to the community at Highbrook. These are the
unsung heroes who get involved, organise,
help out, volunteer, cajole and support without
even thinking.
Val Ralph-Smith of Metro  Performance Glass
and Russell  Hunter of Stanley Black and Decker
are our inaugural winners and their nominated
charities are Everybody Eats and Heart Kids NZ.
ABOVE & RIGHT:
We’re  rewarding these heroes
with  a $500  prezzy card and
making a $1,000  donation to a
charity of their  choice.
Click here to learn more.
Highbrook-Newsletter-
February-2021-online
Highbrook
heroes

Disclaimer: 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 2021.
May 2021 FY21 Annual Result Announcement
June 2021 Fourth Quarter Distribution Payment
July 2021 Annual Meeting of Unitholders
September 2021 First Quarter Distribution Payment
November 2021 FY22 Interim Result Announcement
December 2021 Second Quarter Distribution Payment
FY21 Key dates
Dates below are indicative only and remain subject to change.
GoodResults+
Goodman Property Trust Newsletter
MARCH 2021 | ISSUE 1 2 | Page 6
The Trust’s website www.goodman.com/nz enables
Unitholders to view information about their investment,
download investor forms, check current prices and
view publications and announcements.
View Goodman’s
Event Calendar online
Goodbye to cheques
With banks phasing out cheques, all
distributions paid by GMT are now
being made by direct credit. It is a faster
and more secure method of payment.
Any Unitholders who haven’t yet provided their bank
account details to Computershare, GMT’s registrar,
will need to do so to ensure that future distribution
payments are received in a timely manner.
This can be done using the link below
or  by  contacting Computershare directly on
Toll free: 0800 359 999 (within New Zealand) or
Telephone: +64 9 488 8777 (outside New Zealand).
INVESTOR
CENTRE
Update your details online,
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www.investorcentre.com/nz
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