KEY POINTS:
Goodman Property Trust has announced it is developing three industrial facilities and an office project with a total development cost of $30.8 million.
Two of the three industrial developments were at Westney Industry Park, Mangere, the company said today.
Purpose-built warehouse and distribution facilities, totalling 13,355sq m, were being built for Fliway Group and existing customer Supply Chain Solutions.
The two developments had a total project cost of $14.5 million and lifted commitments at Westney to 57 per cent of total site area after three years, Goodman said.
The third industrial project was at Glassworks Industry Park, Christchurch, where safety equipment provider NZ Safety had committed to an 1800 sq m warehouse, office and showroom facility, with a total development cost of $2.8m.
It was the third pre-commitment at the site in the past six months.
At the Show Place Office Park in the Christchurch suburb of Addington a new four-level office development with 3787sq m of net lettable area was being built.
It was being developed with joint venture partner Henshaw Holdings at a total development cost of $13.5m.
Goodman said its investment in the four developments would be $22m, after adjusting for its 50 per cent interest in the Show Place joint venture and Westney co-ownership arrangements.
- NZPA
