GMT Acquires Strategic Mt Roskill Site for $93 million

Level 2, 18 Viaduct Harbour Avenue, Auckland | PO Box 90940, Victoria Street West, Auckland 1142
Tel +64 9 375 6060 | www.goodman.com/nz
nzx release+
GMT Acquires Strategic Mt Roskill Site for $93 million
Date
12 September 2018
Release
Immediate
Goodman (NZ) Limited, the Manager of Goodman Property Trust (“GMT”), is
pleased to announce its purchase of the Foodstuffs Distribution Centre in Mt
Roskill, Auckland for $93 million.
Located at 58-60 Roma Road, the 13.1-hectare property features 36,977 sqm of
warehouse and office space together with associated yard and parking areas.
John Dakin, Chief Executive Officer of the Manager said, “Acquiring this asset extends
our investment in the buoyant Auckland industrial market. The size of the property and
the strategic location, makes it one of the cit y’s best industrial opportunities.”
Close to the Waterview Tunnel in Mt Roskill, the property offers direct access to the
motorway systems North, South and West. Positioned at the northern end of SH20,
close to the CBD and port, it complements GMT’s existing portfolio which is
predominantly South Auckland focused.
John Dakin said, “The population within a 20-minute delivery truck radius is estimated to
be almost 700,000 people. With purchasing power of $21.3 billion the surrounding
consumer catchment makes it the ideal location for fulfilment and logistics companies.”
Acquired on a lease-back arrangement, the existing facilities will be refurbished and
reconfigured on expiry of the Foodstuffs lease in 2021. With site coverage of less than
30% and a light industrial zoning the property also offers longer-term opportunity
through intensification of use or redevelopment.
John Dakin said, “With warehouse and logistics space already supply constrained, the
growth of the city and the expansion of e-commerce is expected to drive future demand
in this location.”
The unconditional acquisition, which reflects a passing yield of around 5%, is expected
to settle in October 2018.
For further information please contact:
John Dakin Andy Eakin
Chief Executive Officer Chief Financial Officer
Goodman (NZ) Limited Goodman (NZ) Limited
(021) 321 541 (021) 305 316

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

About Goodman Property Trust:
GMT is an externally managed unit trust, listed on the NZX. It has a market capitalisation of around $1.9 billion, ranking it
in the top 20 of all listed investment vehicles. The Manager of the Trust is a subsidiary of the ASX listed Goodman
Group, Goodman Group is also the Trust’s largest investor with a cornerstone unitholding of 21%.

GMT is New Zealand’s leading industrial and business space provider. It has a substantial property portfolio, with a value
of $2.3 billion after recently contracted sales. The Trust holds an investment grade credit rating of BBB from Standard &
Poor’s.

Level 2, 18 Viaduct Harbour Avenue, Auckland | PO Box 90940, Victoria Street West, Auckland 1142
Tel +64 9 375 6060 | www.goodman.com/nz
Appendix 1:
Aerial image showing boundary of Foodstuffs Distribution Centre, 58-60 Roma Road, Mt Roskill

Appendix 2:
Aerial image showing location of Foodstuffs Distribution Centre, alongside SH20

Appendix 3:
Aerial image of Auckland showing location of GMT owned estates