Goodman Property says focus on Auckland industrial sites paying off, despite annual loss

Goodman Property Trust wants to raise funds to redevelop sites like the Villa Maria winery.

Tue, 28 May 2024

A good operating performance in Auckland’s tight industrial property market demonstrates its resilience despite a large annual loss, Goodman Property Trust says.The warehousing and logistics specialist has reported a net loss of $565 million for the year to March 2024, thanks to the one-off cost of internalising its management contract and a near 10% revaluation of its portfolio.This compared to a $135m loss in 2023.In what CEO James Spence described as its "most significant event of the year", Goodman Property Trust (GMT)...

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