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Asset Recycling Funding Development Activity

Tuesday, 27 October 2015

Goodman (NZ) Limited, the Manager of Goodman Property Trust (“GMT” or “Trust”), is pleased to announce further disposals as part of the Trust’s asset recycling programme.

The amenity and IAG buildings at 12 and 14 Show Place in Addington, Christchurch, have been sold to local investors for $33.2 million.

Andy Eakin, Chief Financial Officer of Goodman (NZ) Limited, said “Ongoing asset sales are currently the preferred source of funding for new development activity. It’s a successful and sustainable approach that is improving the cash earnings of the Trust while enhancing an already high quality property portfolio.”

The unconditional sale is expected to settle on 25 November 2015.

For further information, please contact:

Andy Eakin
Chief Financial Officer
Goodman (NZ) Limited
(09) 375 6077
(021) 305 316

Michael Gimblett
General Manager Property
Goodman (NZ) Limited
(09) 969 3742
(021) 898 838