Goodman to spend $33.4 million on four developments, nets $16.37mln on Chch property

Fri, 19 Sep 2014

By Suze Metherell Sept. 19 (BusinessDesk) - Goodman Property Trust, which is selling assets to fund development, will spend $33.4 million on four developments and has sold the Carter Holt Harvey Packaging Facility in Christchurch for $16.37 million to an undisclosed buyer. The four developments are expected to generate around $2.8 million of annual income and boost valuation gains between 10 percent and 15 percent, Goodman (NZ), the manager of the Auckland-based property investor, said in a statement. The $33.4 million in development add...

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