GMT Acquires 34 hectares of Industrial Development Land

Goodman (NZ) Limited, the Manager of Goodman Property Trust (“Trust”), is pleased to announce it has entered into a conditional contract to acquire 34 hectares of light industrial zoned development land near Auckland Airport for $75 million.

The purchase of the excess land associated with the Villa Maria winery includes various infill sites between Montgomerie Road and Ōruarangi Road in Māngere.

John Dakin, Chief Executive Officer of the Manager, said, “This acquisition is consistent with our strategy of developing high-quality warehouse and logistics facilities for our customers, in the best locations.”

A growing digital economy and other structural trends are contributing to the strong demand for operationally efficient distribution space, close to consumers.

John Dakin said, “The vision is for a highly sustainable urban logistics estate that incorporates the natural features of the site and the unique cultural history of the area. We’ll be engaging with local iwi and other stakeholders over the next 12-18 months as we refine the development masterplan.”

The acquisition is conditional on the subdivision of the property and expiry of the Property Law Act notice. The purchase is expected to settle later in 2021.

For further information please contact:
John Dakin
Chief Executive Officer
Goodman (NZ) Limited
(021) 321 541

Andy Eakin
Chief Financial Officer
Goodman (NZ) Limited
(021) 305 316

James Spence
Director Investment Management
Goodman (NZ) Limited
(021) 538 934

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Announcement PDF