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Port of Tauranga Purchases Onehunga Property from Goodman

12 August 2013

Port of Tauranga Purchases Strategic Onehunga Property from Goodman

While the City of Auckland grapples with the future of its waterfront, Port of Tauranga Limited continues to expand its MetroPort inland port operations in South Auckland. Already handling over 180,000 TEU per annum of international imports and exports to and from the Auckland market, the site has significant capacity to grow. This is further enhanced by the Company’s announcement today that it has acquired Gateside Industrial Park from Goodman Property Trust for $37.2 million.

Port of Tauranga Chief Executive, Mark Cairns, said, “This strategic acquisition, with a total area of 6.8 hectares, will be key to expanding access to and from international markets for Auckland.”

The property, which is immediately adjacent to Port of Tauranga’s inland port, MetroPort, includes three large industrial warehouses, an office building and more than 2 hectares of land we have ear-marked for future development.”

Mr Cairns went on to say, “This acquisition adds to the $10 million recently spent on acquiring three properties in Tauranga. These properties add a further 2.28 hectares to our potential development land, bringing our total holdings in Tauranga to nearly 190 hectares.”

Rental income from these new properties will exceed $3 million per annum.

The unconditional sale is due to settle in February 2014.

ENDS

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