Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Goodman Property builds three new developments for $44.4 mln

Goodman Property builds three new developments for $44.4 million

By Suze Metherell

April 14 (BusinessDesk) – Goodman, the manager of Goodman Property Trust, said it plans to spend $44.4 million developing three new industrial properties.

The developments, which will add 28, 430 square meters of industrial space to its portfolio, will be funded through existing debt facilities and further selling from its asset disposal programme, the company said in a statement. Last month, the Auckland-based company refinanced $600 million of bank facilities, extending the term to an average of 3 ½ years. Its total debt facilities are $895 million.

Steel & Tube Holdings will rent the Otahuhu Savill Link development as well as space in the Highbrook business park in East Tamaki, which are due to be completed in November, it said. Ford will also move to a new warehouse in Highbrook with a 10-year lease starting next April.

Shares in the listed property trust rose 0.5 percent to 97 cents and have declined 12 percent over the past year, underperforming the NZX 50 Index’s 14 percent gain. The stock has an average ‘hold’ rating, according to six analysts surveyed by Reuters, with a median price target of $1.03.

(BusinessDesk)


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Season Ends: Is Whitebaiting Sustainable?

The whitebait fry - considered a delicacy by many - are the juveniles of five species of galaxiid, four of which are considered threatened or declining. The SMC asked freshwater experts for their views on the sustainability of the whitebait fishery and whether we're doing enough to monitor the five species of galaxiid that make up whitebait. More>>

ALSO:

Crown Accounts: Smaller-Than-Expected Four-Month Deficit

The New Zealand government's accounts recorded a smaller-than-forecast deficit in the first four months of the fiscal year on a higher-than-expected inflow of corporate and goods and services tax. More>>

ALSO:

On For Christmas: KiwiRail Ferries Back In Full Operation After Quake

KiwiRail’s Interislander ferries are back in full operation for the first time since the Kaikoura earthquake, with the railspan that allows rail wagons to be loaded on the Aratere now restored. More>>

ALSO:

Comerce Commission Investigation: Prosecutions Over Steel Mesh Labelling

Steel & Tube Holdings, along with two other companies, will be prosecuted by the Commerce Commission following the regulator's investigation into seismic steel mesh, while Fletcher Building's steel division has been given a warning. More>>

ALSO:

Wine: 20% Of Marlborough Storage Tanks Damaged By Quake

An estimated 20 percent of wine storage tanks in the Marlborough region, the country’s largest wine producing area, have been damaged by the impact of the recent Kaikoura earthquake. More>>

ALSO:

ACC: Levy Recommendations For 2017 – 2019 Period

• For car owners, a 13% reduction in the average Motor Vehicle levy • For businesses, a 10% reduction in the average Work levy, and changes to workplace safety incentive products • For employees, due to an increase in claims volumes and costs, a 3% increase in the Earners’ levy. More>>

Women's Affairs: Government Accepts Recommendations On Pay Equity

The Government will update the Equal Pay Act and amend the Employment Relations Act to implement recommendations of the Joint Working Group on Pay Equity. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news