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Goodman Property adds NZ$107M projects to Auckland pipeline

Goodman Property Trust is expanding its industrial footprint in Auckland with the addition of six new industrial projects worth a combined NZ$107 million.

The new projects will comprise 58,368 square meters of warehouse and office space over 10 hectares of land, and include build-to-lease and pre-committed industrial facilities that will generate an expected NZ$8.9 million of additional revenue once fully leased, the company said.

The company is investing roughly NZ$70.5 million in Highbrook Business Park, 90% of which will be developed over the next three years.

Meanwhile, Goodman Property's Concourse Industry Park in Henderson is undergoing redevelopment, which will see a multiunit creation on the former boat building facility on the Selwood Road site.

Other projects include a new warehouse at Savill Link in Otahuhu and an extension of the existing Fliway facility at Westney Industry Park in Mangere.

As of Aug. 9, US$1 was equivalent to NZ$1.37.