GMT Achieves Strong Sales Results | New Zealand
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GMT Achieves Strong Sales Results

Tuesday, 28 October 2014

Goodman (NZ) Limited (“GNZ”), the Manager of Goodman Property Trust, is pleased to announce further asset disposals as part of its ongoing sales programme.

Two industrial facilities at Glassworks Industry Park and a low rise office building at Southpark Industrial Estate in Christchurch, have been sold to private investors for a combined price of $18.9 million.

John Dakin, Chief Executive Officer of GNZ, said “These latest sales have been achieved at market leading yields, generating positive gains for the Trust. We’ve taken advantage of the strong investment market and have contracted almost $65.0 million in asset sales already this year. The capital is being recycled back into the portfolio, funding new office and industrial development projects in both Auckland and Christchurch.”

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 17.6%.

GMT is New Zealand’s leading industrial and business space provider. It has a substantial property portfolio with a value in excess of $2.0 billion that accommodates around 260 customers. The Trust holds an investment grade credit rating of BBB from Standard & Poor’s.