The Goodman Property Trust has announced 2 new industrial projects for its Savill Link industrial estate & Highbrook Business Park in Auckland totalling $54.1 million, including $14.6 million for land value allocation.
Trust management company Goodman (NZ) Ltd’s chief executive, John Dakin, said today the preleased facilities would occupy almost 4ha of development land, add 19,467m² of rentable area to the portfolio and generate over $3.3 million/year income once completed.
Those 2 new commitments will take Goodman’s current development workload to $233 million. Mr Dakin said the new projects continued the strong momentum of the last 18-24 months and further progressed the rapid build-out of the trust’s strategic landholdings.
The new projects:
- A 14,050m² design-build warehouse facility for Australasian packaging specialist NCI Holdings Pty Ltd at Savill Link in Otahuhu, and
- A 5417m² warehouse expansion for national carrier & existing customer Move Logistics Ltd at Highbrook.
Excluding land allocations, Mr Dakin said the 2 projects would require additional investment of $39.5 million.
Mr Dakin said: “Regional growth & the impact of online retailing is driving demand for well located industrial & business space facilities across Auckland. With portfolio occupancy of 99% we are effectively at capacity. To alleviate the supply shortfall we are intensifying our development programme with a combination of build-to-lease & design-built facilities.”
The current project list:
Attribution: Company release.