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

 

GMT development activity exceeds $230 million


Goodman (NZ) Limited, the Manager of Goodman Property Trust (“GMT” or “Trust”), is pleased to announce the commencement of two new industrial projects totalling $54.1 million[1].

Utilising almost four hectares of development land the preleased facilities will add 19,467 sqm of rentable area to the portfolio and generate over $3.3 million of annual income once completed.

The new commitments add to the large volume of work currently underway with the total value of these projects now $233.0 million.

Goodman (NZ) Limited's Chief Executive Officer, John Dakin said “We’re delighted to be extending our development programme with these substantial new projects. It continues the strong momentum of the last 18-24 months and further progresses the rapid build-out of our strategic land holdings.”

The projects include:

+ A design-built warehouse facility of 14,050 sqm for Australasian packaging specialist NCI at Savill Link in Otahuhu
+ A 5,417 sqm warehouse expansion for national carrier and existing customer, Move Logistics at Highbrook Business Park.
Excluding land allocations, the two projects require additional investment of $39.5 million.
John Dakin said, “Regional growth and the impact of online retailing is driving demand for well-located industrial and business space facilities across Auckland. With portfolio occupancy of 99% we are effectively at capacity. To alleviate the supply shortfall we are intensifying our development programme with a combination of build-to-lease and design-built facilities.”
A list of these current projects is included in the appendix to this announcement.

[1] Estimated total project cost including land allocation, construction costs and all management and other professional fees. Final costs to be determined by formal tender process.


Appendix 1

GMT Development Projects

DevelopmentEstateLocationTotal Project Cost ($m)Net Lettable Area (sqm)Announcement dateCompletion date
Parade unitsHighbrook Business ParkEast Tamaki, Auckland16.85,770Aug-17Oct-18
Building 6Highbrook Business ParkEast Tamaki, Auckland16.03,006Mar-17Sep-18
The Crossing carparkHighbrook Business ParkEast Tamaki, Auckland10.7324(1)Mar-17May-19
Plytech warehouseHighbrook Business ParkEast Tamaki, Auckland16.15,100Dec-17Nov-18
Quest expansionHighbrook Business ParkEast Tamaki, Auckland12.160(2)Mar-17Dec-18
Gateway warehousesHighbrook Business ParkEast Tamaki, Auckland61.121,470Aug-17Dec-18
Move Logistics expansionHighbrook Business ParkEast Tamaki, Auckland15.95,417Apr-18Mar-19
Savill Link warehouseSavill LinkOtahuhu, Auckland16.18,500Aug-17Nov-18
NCI warehouseSavill LinkOtahuhu, Auckland38.214,050Apr-18May-19
Selwood unitsThe ConcourseHenderson, Auckland30.210,933Aug-17Dec-18
233.074,246

(1) Number of carparks
(2) Number of new apartments

ends

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 


Foodstuffs: New World & Four Square Trial NZ’s First Grocery Delivery Offer With Uber Eats

New World & Four Square have partnered with Uber Eats to unlock the first grocery offering available on the platform in Aotearoa. For New World and Four Square it’s yet another way to put New Zealanders first, particularly with those inevitable last-minute grocery needs... More>>

Digitl: Download 2.0 – Vodafone Wi-Fi Calling hits early milestone
Vodafone says it has 10,000 customers using its Wi-Fi Calling service. It took less than three months to reach that milestone; the service began operating in September... More>>

Energy Resources Aotearoa: New Law On Decommissioning Could Be Costly Overkill
A new law on decommissioning oil and gas fields passed by Parliament today has good intentions but is overkill, according to Energy Resources Aotearoa. "We strongly support operators taking responsibility and paying the costs for decommissioning, which is what all good operators do," says chief executive John Carnegie... More>>



ABC Business Sales: Demand High For Covid-proof Businesses
Despite the continuing challenges facing businesses in this Covid environment, right now there are more buyers looking for a small-medium sized business than there are sellers in the market... More>>


PriceSpy: Producer Prices Increase
New Black Friday and Covid-19 Report* released by PriceSpy says people’s fear of stepping inside physical shops during big sales events like Black Friday has risen since last year; Kiwis are still planning to shop, but more than ever will do it online this year... More>>

NZ Skeptics Society: Announce Their 2021 Awards, And Dr Simon Thornley Wins The Bent Spoon

Every year the New Zealand Skeptics presents its awards to people and organisations who have impressed us or dismayed us, and this year it’s been hard to pick our winners because there have been so many choices!.. More>>



REINZ: Sales Volumes Leveling Out

Data released today by the Real Estate Institute of New Zealand (REINZ) shows there were 44 fewer lifestyle property sales (-2.6%) for the three months ended October 2021 than for the three months ended September 2021... More>>