The Goodman Property Trust has begun construction of a 5670m² office building, replacing a 1700m² facility at the southern entrance to the Central Park Corporate Centre beside the Ellerslie-Panmure motorway interchange.
Management company Goodman (NZ) Ltd’s chief executive, John Dakin, said yesterday the trust had few options for high quality business space available at Central Park after fully leasing the new 5340m² Genesis Energy building.
Mr Dakin said the new premium quality, 5-level office building would incorporate sustainable design elements and feature large, open-plan workspaces. It’s scheduled for completion in late 2014, has a forecast total cost of $22.4 million (including land, construction costs & all professional fees) and is expected to provide a yield on cost of around 9% once fully leased & income-producing.
Goodman has 10 office & industrial projects worth almost $100 million underway.
Attribution: Company release.