Brief: Goodman Property Trust says further disposals as part of trust's asset recycling programme

Goodman New Zealand and Goodman Property Services

15/03/2017 20:20

March 16 (Reuters) -    Goodman Property Trust  GMT.NZ : 
    * Announce further disposals as part of trust's asset 
recycling programme 
    * Unconditional sale is expected to settle before end of 
march 2017 
    * Commercial buildings & associated development land at show 
place in addington, have been sold to local investor for nz$14 
million 
    * Largest  being disposal of millennium and yellow hq office 
properties at 600-604 great south road in auckland, for $210 
million 
    * Trust will hold investment for a maximum period of two 
years and expects to receive an annual return of 8% 
    * To facilitate transaction, gmt has subscribed for $12 
million of units in property syndicate that now owns asset 
    * All figures in nz$ 
 
 
     
    Source text for Eikon:  ID:nNZS9a5a  
    Further company coverage:  GMT.NZ  
 
 ((Bangalore.newsroom@thomsonreuters.com ;))