Goodman trust spec builds warehouses in constrained market

Wed, 18 Sep 2019

By Jenny Ruth Sept. 18 (BusinessDesk) - Goodman Property Trust's up to $175 million capital raising will place it below targeted gearing in a market where demand, property valuations and rents are rising but supply is constrained. With the trust's own completed portfolio practically fully leased, and a 1.9 percent vacancy rate across all Auckland industrial property, Goodman's manager is responding by building five new warehouses on a build-and-they-will come basis. Goodman has a track record of success with such spec building; the 15...

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