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GMT Sales Programme Approaches $150 million

Tuesday, 16 December 2014

Goodman (NZ) Limited ("GNZ"), the Manager of Goodman Property Trust, is pleased to announce the sale of Enterprise Park in Wiri.

The multi-customer industrial facility has been sold to a private local investor for $53.2 million. The unconditional sale, which is due to settle in March 2015, increases the value of asset sales achieved in the first nine months of FY15 to almost $150 million.

John Dakin, Chief Executive Officer of GNZ, said "Financing new development and investment activity through asset recycling is facilitating the Trust's business growth. The Enterprise Park sale continues a successful asset disposal programme that is delivering strong profits while allowing us to accelerate the Trust's development programme. It's a value adding strategy that is converting the Trust's strategic land holdings into high quality, income producing, industrial and office park assets."

For further information, please contact:

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

About Goodman Property Trust:
GMT is an externally managed unit trust, listed on the NZX. It has a market capitalisation of around $1.3 billion, ranking it in the top 15 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 17.8%.

GMT is New Zealand's leading industrial and business space provider. It has a substantial property portfolio with a value in excess of $2.1 billion that accommodates around 260 customers. The Trust holds an investment grade credit rating of BBB from Standard & Poor's.