Highbrook Park progressing

The joint venture in which NZX-listed Goodman Property Trust has a 50 per cent interest is starting to build the estimated $91.7 million next stage of Highbrook Business Park in Manukau.

Trust manager Goodman (NZ) yesterday said the next stage, The Crossing project, was a 24,700sq m mixed use development, with 62 serviced apartments, 17,300sq m of commercial office space and 4400sq m for retail and hospitality-type uses.

With six buildings arranged around a podium base and linked by an open air plaza, it was designed as the focal point of the 108ha Highbrook business park.

The first stage of The Crossing, costing $35.1 million, would be built in the next 18 months.

The Crossing was forecast to provide a yield of 8.45 per cent once fully leased and income-producing.