Sharechat Logo

Goodman Property plans new $22.4M building at Central Park development

Monday 9th September 2013

Text too small?

Goodman Property Trust, the country's biggest listed property investor by market value, is planning to spend $22.4 million on a new building at its Central Park development in Auckland's Greenlane.

The property trust's manager, Goodman (NZ), said it will erect a new five-level office space with 5,670 square metres to cater for more than 2,000 people, replacing an older building. The development is expected to be finished in late 2014, and will provide a return of 9 percent of costs once it's fully leased.

"The Greenlane corridor is a proven business location and its popularity has supported the development of more than 40,000 sqm of space at the trust's Central Park and Millennium Centre office parks," chief executive John Dakin said. "It has been a successful growth strategy that has enhanced the portfolio and extended the range of options we can offer our customers."

Units in the property trust were unchanged at $1.04 today, and have edged up 3 percent this year.

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

Goodman Property plans $20.7 mln developments in Christchurch
Goodman Property expects to boost payments to unit holders in 2014, signals further investments
Goodman Property Trust records first increase in portfolio value since 2008
Goodman Property scales unit purchase plan after oversubscription
Goodman Property investors approve $186.6M Highbrook deal
Goodman Property Trust placement goes without a hitch
Goodman Property seeks $80M to help fund Highbrook buy-out
Goodman Property earnings fall 4.1% as tax bill rises
GMT Secures New 5 Year Debt Funding
GMT secures major design build commitment