GMT Announces Asset Sale | New Zealand
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GMT Announces Asset Sale

Monday, 12 August 2013
Goodman (NZ) Limited (“GNZ”), the Manager of Goodman Property Trust, is pleased to announce the sale of Gateside Industry Park in Penrose.

The multi-tenanted estate, which includes around 2.3 ha of associated development land, is being sold to Port of Tauranga Limited for $37.2 million.

John Dakin, Chief Executive Officer of GNZ, said “The sale of Gateside is part of a successful asset disposal programme that has released more than $70 million of capital over the last 18 months. The equity that it provides is helping fund an accelerating development programme that is focused on converting the Trust’s strategic land holdings into high quality industrial and office park assets.”

The unconditional sale is due to settle in February 2014.