GMT development activity exceeds $230 million

Goodman (NZ) Limited, the Manager of Goodman Property Trust ("GMT" or "Trust"), is pleased to announce the commencement of two new industrial projects totalling $54.1 million. Utilising almost four hectares of development land the preleased facilities will add 19,467 sqm of rentable area to the portfolio and generate over $3.3 million of annual income once completed. The new commitments add to the large volume of work currently underway with the total value of these projects now $233.0 million. Goodman (NZ) Limited's Chief Executive Officer, John Dakin said "We're delighted to be extending our development programme with these substantial new projects. It continues the strong momentum of the last 18-24 months and further progresses the rapid build-out of our strategic land holdings." The projects include: + A design-built warehouse facility of 14,050 sqm for Australasian packaging specialist NCI at Savill Link in Otahuhu + A 5,417 sqm warehouse expansion for national carrier and existing customer, Move Logistics at Highbrook Business Park. Excluding land allocations, the two projects require additional investment of $39.5 million. John Dakin said, "Regional growth and the impact of online retailing is driving demand for well-located industrial and 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 and design-built facilities." A list of these current projects is included in the appendix to this announcement. For further information please contact: John Dakin Chief Executive Officer Goodman (NZ) Limited (09) 375 6063 (021) 321 541 James Spence Director Investment Management Goodman (NZ) Limited (09) 903 3269 (021) 538 934 Andy Eakin Chief Financial Officer Goodman (NZ) Limited (09) 375 6077 (021) 305 316 About Goodman Property Trust: GMT is an externally managed unit trust, listed on the NZX. It has a market capitalisation of around $1.7 billion, ranking it in the top 20 of all listed investment vehicles. The Manager of the Trust is a subsidiary of the ASX listed Goodman Group, Goodman Group is also the Trust's largest investor with a cornerstone unitholding of 21%. GMT is New Zealand's leading industrial and business space provider. It has a substantial property portfolio, with a value of $2.7 billion, which accommodates around 200 customers. The Trust holds an investment grade credit rating of BBB from Standard & Poor's. End CA:00317393 For:GMT Type:GENERAL Time:2018-05-01 09:48:55