20121204 GMT Leases New Office Development | New Zealand
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20121204 GMT Leases New Office Development

Tuesday, 4 December 2012
Goodman (NZ) Limited, the Manager of Goodman Property Trust (“GMT” or “Trust”), is pleased to announce that the new 5,340 sqm office development at Central Park Corporate Centre has been leased seven months ahead of completion.

The premium office development, which will incorporate sustainable design elements and feature 1,400 sqm floorplates, has been leased to leading corporate customers Genesis Energy and Restaurant Brands Limited who are both relocating from within the Trust’s existing portfolio.

Goodman (NZ) Limited's Chief Executive Officer, John Dakin, said “These new leasing commitments demonstrate the attraction of our office parks and the benefit of having a development capability that can meet the requirements of both new and existing customers. It has been a highly successful development that reinforces the Trust’s leading position in the Greenlane office precinct.”

Genesis Energy will occupy three of the four floors and take naming rights of the low rise campus style building while Restaurant Brands Limited will occupy the top floor. The respective leases have initial terms of 9 and 12 years.

Scheduled to complete in July 2013, the development has a forecast total project cost of $21.4 million (including land, construction costs and all professional fees). The market rentals that have been agreed will provide an initial yield of around 9.7%.

For further information please contact:

Level 28, 151 Queen Street, Auckland | PO Box 90940, Victoria Street West, Auckland 1142
Tel +64 9 375 6060 | Fax +64 9 375 6061 | www.goodman.com/nz