GMT Acquires 34 hectares of Industrial Development Land

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 Acquires 34 hectares of Industrial Development Land
Date
2 August 2021
Release
Immediate
Goodman (NZ) Limited, the Manager of Goodman Property Trust (“Trust”), is pleased
to announce it has entered into a conditional contract to acquire 34 hectares of light
industrial zoned development land near Auckland Airport for $75 million.
The purchase of the excess land associated with the Villa Maria winery includes various
infill sites between Montgomerie Road and Ōruarangi Road in Māngere.
John Dakin, Chief Executive Officer of the Manager, said, “This acquisition is consistent
with our strategy of deve loping high-quality warehouse and logistics facilities for our
customers, in the best locations.”
A growing digital economy and other structural trends are contributing to the strong
demand for operationally efficient distribution space, close to consumers.
John Dakin said, “The vision is for a highly sustainable urban logistics estate that
incorporates the natural features of the site and the unique cultural history of the area. We’ll
be engaging with local iwi and other stakeholders over the next 12-18 months as we refine
the development masterplan.”
The acquisition is conditional on the subdivision of the property and expiry of the Property
Law Act notice. The purchase is expected to settle later in 2021.
For further information please contact:
John Dakin James Spence
Chief Executive Officer Director Investment Management
Goodman (NZ) Limited Goodman (NZ) Limited
(021) 321 541 (021) 538 934

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 $3.4 billion, ranking it
in the top 20 of all listed investment vehicles. The Trust is New Zealand’s leading warehouse and logistics space
provider. It has a substantial property portfolio, which had a value of $3.8 billion at 31 March 2021. The Trust also holds
an investment grade credit rating of BBB from S&P Global Ratings.

The Manager of the Trust is Goodman (NZ) Limited, a subsidiary of the ASX listed Goodman Group. Goodman Group is
a $55 billion sp ecialist global manager of warehouse and logistics real estate.

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 boundary of acquired sites.