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GMT Sells 120 Pavilion Drive for $8 million

Tuesday, 12 June 2012

Goodman (NZ) Limited (“GNZ”), the Manager of Goodman Property Trust (“GMT”), is pleased to announce the sale of 120 Pavilion Drive, Mangere.

The stand-alone warehouse is being sold to an owner occupier for $8.1 million. The sale price represents a small premium to the March 2012 valuation of $7.8 million.

John Dakin, Chief Executive Officer of GNZ, said “The sale demonstrates the flexibility of our capital management strategy. It allows us to take advantage of a strengthening investment market to recycle capital out of less growth orientated assets into the Trust’s value adding development programme.”

The unconditional sale is expected to settle in October 2012.

For further information, please contact:
John Dakin
Chief Executive Officer 
Goodman (NZ) Limited 
(09) 375 6063
(021) 321 541

Murray Barclay
General Manager Property
Goodman (NZ) Limited
(09) 969 3743 
(021) 767 424