Fire-damaged Humes warehouse fully insured

Published: Fri 27 Oct 2017 02:26 PM
Goodman Property manager says fire-damaged Humes warehouse fully insured
By Jonathan Underhill
Oct. 27 (BusinessDesk) - Goodman (NZ), the manager of Goodman Property Trust, says the fire-damaged Humes warehouse in Penrose, Auckland, was fully insured and wasn't a meaningful part of its portfolio.
Thirteen fire crews responded to the fire overnight at one of the Auckland distribution centres for Fletcher Building's Humes Pipeline Services and rail services were diverted between Otahuhu and Britomart because of the risk of the building collapsing over the rail lines. The cause of the fire hasn't yet been established.
"The small warehouse building is fully insured and we are now working with Humes to minimise the interruption to its business operations," Goodman chief executive John Dakin said in a statement. The warehouse represents less than 0.1 percent of the trust's property portfolio, he said.
Fletcher shares rose 0.3 percent to $7.48 and Goodman was unchanged at $1.32.
"Humes is today assessing the damage from last night's fire at an Auckland Humes sales centre in Penrose, and is working to minimise disruption to customers by using nearby Auckland sales centres," Humes general manager Becky Lloyd said in a separate statement.
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