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Auckland

Auckland is the gateway to New Zealand. It is the country’s largest city and features major port, airport, road and rail infrastructure. The population of 1.4 million represents around 30% of the national total.

Strategic location

Situated between two harbours, Auckland is located on a narrow isthmus of 1,000 km2 making strategic land holdings extremely valuable. It is Goodman’s third largest investment market with GMT owning around $2.3 billion of predominantly industrial assets.

The portfolio includes the world class Highbrook Business Park. 

Strong immigration flows and continuing urbanisation are fuelling the economic growth of the region which currently makes up around 37% of national GDP. Demographic forecasts show differential growth over the next 30 years and major infrastructure projects are underway to accommodate this growth. 

Auckland is also the country’s largest industrial market with an estimated 11 million sqm of warehouse space, the majority of which is smaller owner-occupied stock. Historically low vacancy and limited new supply is driving market rental growth and adding to the attractiveness of the asset class with investors.

Growth in consumerism means we expect the industrial market to continue to expand. To date it has been third party logistics operators that have benefited from the increase in parcel volumes with national and international e-retailers typically outsourcing delivery to businesses with established networks in New Zealand. 

Goodman’s Auckland’s estates provide around 1 million sqm of industrial space. A further 27 ha of greenfield land within the portfolio is expected to support the development of an additional 134,000 sqm of space.  

With reducing greenfield industrial land supply Goodman also holds brownfield and mixed-use site in Penrose and Mt Wellington which could be redeveloped. As residential builders compete for sites to address an acute housing shortage we expect this to be an emerging trend.