GMT Portfolio Update | New Zealand
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GMT Portfolio Update

Tuesday, 22 December 2015

Goodman (NZ)  Limited, the Manager of Goodman Property Trust ("GMT" & "Trust"), has  advised that it has received notification from Vodafone that it will not be  renewing its lease of the Vodafone Building when it expires in April 2017. 

The building is  owned by the joint venture between GMT (51%) and the Singaporean sovereign  wealth fund, GIC (49%).

John Dakin Chief  Executive Office of Goodman (NZ) Limited, said "The 13,932 sqm building is one  of very few opportunities available for large corporate occupiers seeking  prominent business premises in 2017. Opposite Victoria Park and neighbouring the attractions of the Viaduct and rapidly developing Wynyard Quarter, the location  literally sells itself. Great transport links, and a planned refurbishment and  upgrade means we expect this space to lease quickly."

About Goodman Property Trust: 

GMT is an externally managed  unit trust, listed on the NZX. It has a market capitalisation of around $1.5  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  20.62%.

GMT is New Zealand's leading industrial and business  space provider. It has a substantial property portfolio with a value in excess of $2.1 billion that accommodates more than 250 customers. The Trust holds an  investment grade credit rating of BBB from Standard & Poor's.