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Success Continues at Highbrook Business Park

Leasing Success Continues at Highbrook Business Park

  • Strong demand at Highbrook continues with two new leases signed

  • Ford moves Head Office to NZ's largest Business Park

  • Childcare and cafe development signal commitment to workplace balance

Goodman Property Trust is pleased to report two further leases at Highbrook Business Park with Ford Motor Company and Lollipops Educare signing recently.

Ford is the largest of the two new commitments and will take up residence in the commercial development, Office Building D, which is scheduled for completion in December 2008. Ford have committed to almost 1,500 sqm of the 3,900 sqm building on a six year lease at market rentals. The building is expected to have a value of $14.4 million once completed and fully income producing.

The Trust is also pleased to announce a new purpose built commitment to childcare operator Lollipops Educare. Lollipops will provide a day-care and after school facility that will service the business park and surrounding area. The facility forms part of the unique amenity offering that will differentiate Highbrook Business Park from other estates with its emphasis on workplace balance for staff and their families. The retail amenity at Highbrook is also underway with the announcement that Sierra Coffee will open this week at the Crossing Offices.

Goodman (NZ) Limited's Chief Executive Officer, John Dakin, said "These new leasing commitments demonstrate the strong demand that exists at Highbrook Business Park. It's less than 2 weeks since Unitholders approved the Trust's 50% investment in Highbrook Development Limited and I'm excited to already be reporting new commitments. Highbrook continues to exceed our expectations."

ENDS

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