The Goodman Property Trust has settled its $18.9 million acquisition of the Concourse Industry Park in Henderson.
The trust announced its purchase of the former Alloy Yachts premises & an adjoining industrial property on the corner of Selwood Rd & The Concourse, Henderson, last September.
The 2 former boatbuilding premises have about 22,120m² of high volume warehouse space & 1250m² of associated office.
Management company Goodman (NZ) Ltd’s chief executive, John Dakin, said last year the trust intended to amalgamate the 2 sites into a single 4ha estate: “Close to the cbd and with direct access to State Highway 16 from the Lincoln Rd interchange, this property will become one of Auckland’s best located industrial estates when the western ring route completes in 2017 [and it’s just opened].”
Mr Dakin said the vacant warehouse buildings would be refurbished & reconfigured. Fully leased, they were expected to generate a passing yield of about 7%. The estate also offered 2ha of further development opportunity.
Image above: Goodman’s map showing its Concourse site.
15 September 2016: Goodman sells Christchurch package on top of Fanshawe St lease confirmation & Henderson project
Attribution: Company release.