NZX Release – Macquarie Goodman Property Trust
MGP Establishes Relationship with UPS
5 September 2006
Macquarie Goodman Property Trust (“MGP”) is pleased to announce it has an unconditional contract to purchase 120
Pavilion Drive, Airport Oaks, Auckland. The facility is anchored by a lease to UPS SCS (New Zealand) Limited (“UPS”).
The recently completed 6,769sqm office and warehouse facility will be acquired for $9.6 million and is expected to yield
8.36% once fully leased. Global freight forwarding operator UPS will occupy 3,893sqm of the 6,769sqm on a six year lease
with reviews every two years. Settlement is expected to be 1 December 2006
The property is located in the Airport Oaks industrial precinct close to Westney Industry Park, an existing Macquarie
Goodman asset. The location offers excellent transport linkages with the Airport and easy access to the city and port.
Macquarie Goodman (NZ) Limited, Chief Executive Officer, John Dakin said, “120 Pavilion Drive is a strategic purchase of
a modern warehouse and office facility that allows us to establish a relationship with UPS, as they expand their
operations in New Zealand”.
UPS is the world’s largest package delivery company and a global leader in supply chain services, offering an extensive
range of services including transportation and freight services, logistics and distribution, consulting, and
international trade services. UPS is an existing Macquarie Goodman customer in Australia. Mr Dakin said, “We are pleased
to have extended this relationship to our New Zealand portfolio”.
ENDS