Nzx release+ GMT Distribution Payment - Goodman (NZ)
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nzx release+
GMT Distribution Payment
Date 17 September 2020
Release Immediate
Further to the announcement of 4 August 2020, Goodman (NZ) Limited, the Manager of
Goodman Property Trust, is pleased to advise that the first quarter distribution, for the
period ended 30 June 2020, will be paid to Unitholders today.
The latest edition of the Trust’s electronic newsletter, GoodResults, has also been
released. A copy of the newsletter is attached to this announcement and can be viewed
online at: https://indd.adobe.com/view/3ca4019b-0266-4603-a199-a43792b3b441
For further information, please contact:
John Dakin Andy Eakin
Chief Executive Officer Chief Financial Officer
Goodman (NZ) Limited Goodman (NZ) Limited
(021) 321 541 (021) 305 316
James Spence
Director Investment Management
Goodman (NZ) Limited
(021) 538 934
About Goodman Property Trust:
GMT is an externally managed unit trust, listed on the NZX. It has a market capitalisation of around $3.3 billion, ranking it
in the top 20 of all listed investment vehicles and is New Zealand’s largest listed property investment vehicle. 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 space provider. It has a substantial property portfolio, with a value of $3.1
billion. The Trust holds an investment grade credit rating of BBB from S&P Global Ratings.
Level 2, 18 Viaduct Harbour Avenue, Auckland | PO Box 90940, Victoria Street West, Auckland 1142
Tel +64 9 375 6060 | www.goodman.com/nz
GoodResults+
Goodman Property Trust Newsletter
Logistics space
SEPTEMBER 2020 | ISSUE 1 1
for the world’s
greatest ambitions
| M20 Business Park, Wiri
Nau mai, Haere mai + Welcome
GoodResults+
Successfully Adapting
To The New Normal
COVID-19 and the Alert Level Existing customers within the portfolio, such
as NZ Post, are leasing additional space to
restrictions have highlighted the accommodate rapid business growth generated
important role a secure and efficient by e-commerce.
supply chain plays in the orderly
Recent research from CBRE indicates that more
functioning of a modern economy. than 60% of logistics and distribution businesses
surveyed are considering expanding their property
Warehouse and distribution facilities are a key
requirements within the next two years.
link in the supply chain providing companies with
the physical infrastructure to manage inventory. John Dakin said “These structural trends are
Changing consumer
Efficient freight networks link these businesses positive for GMT, supporting high occupancy levels behaviour is driving
with suppliers, customers and end consumers. and strong leasing results. It is also being reflected
in a renewed level of development enquiry.”
demand for logistics
Consumers have responded to the risks of
COVID-19 by embracing the convenience and The Trust currently has six development projects
and warehouse space.
safety of online sales and contactless delivery. underway across Auckland, with two larger
Reliance on e-commerce has grown accordingly build-to-lease projects ready to commence.
with a 30% 1 increase in online spending over the
6 months to 30 June 2020, compared to the same The eight projects have a combined total project
period last year. cost of $134.1 million and include expansions for
OfficeMax at Highbrook Business Park in East
During Alert Levels 3 and 4, through late March and Tamaki and Ingram Micro at M20 Business Park
mid-May 2020, the average weekly online spend in in Wiri.
the Food, Groceries and Liquor category was more
than 100% 1 higher than 12 months earlier. John Dakin, said, “Urban logistics is an integral part
of the modern supply chain and our development
The trend has been sustained beyond the initial pipeline continues to provide customers with
lockdown period and it highlights a continuing high-quality business premises close to major
shift in consumer behaviour with online sales now transport networks in New Zealand’s largest
||
making up almost 12% 1 of all retail sales in New consumer market.” The
Lastdelivery
mile is the
specialist
final stage
occupies
in the delivery
a 20,000process
sqm warehouse
when,
Zealand, for the six months ended 30 June 2020. goods
that includes
are dispatched
CourierPost’s adistribution
highly automated
to the consumer.
centre parcel sortingBusiness
at Highbrook system. Park, East Tamaki
The development programme continued
John Dakin, Chief Executive Officer said “With a through Auckland’s Alert Level 3 restrictions in
high-quality portfolio focused on urban logistics, August 2020. The six projects under construction A high-quality portfolio focused on urban logistics, is proving
Goodman Property Trust is uniquely placed to remain on schedule, with staggered completion
benefit from the growing demand for distribution dates between now and February 2021. to be a successful strategy for today’s changing world.
facilities close to consumers. The pandemic is
accelerating this trend with businesses responding With few greenfield sites remaining in the portfolio, John Dakin, said, “Maintaining a development concentrating on infill sites and other opportunities
to the challenges and opportunities of a growing and limited land opportunities in Auckland, the capability is essential if we are to meet the future that provide the connectivity with major freight and
online marketplace.” investment focus has been extended to include supply chain requirements of our customers. We’re transport infrastructure that fulfilment and logistics
assets that offer redevelopment potential. being disciplined with our investment decisions, businesses demand.”
1
Sourced from New Zealand Post eCommerce Spotlight
Goodman Property Trust Newsletter
SEPTEMBER 2020 | ISSUE 1 1 | Page 2
GoodResults+
GMT at Portfolio Value
$3.1 bn
Occupancy
99.5%
New Leasing
54,586 sqm
a Glance Invested exclusively in the Auckland
industrial market, the portfolio
includes 11 properties in the key
Low vacancy rates and limited new
supply have created a positive market
dynamic that is being reflected in
More than 5% of the portfolio has
been leased on new or revised terms
since 1 April 2020. The new leasing
industrial precincts of East Tamaki, GMT’s record high occupancy rate. has helped maintain the weighted
Mangere, Mt Roskill, Mt Wellington, average lease term at more than
Own Otahuhu, Penrose and Wiri. five years.
Work in Progress Project Completions Development Pipeline
$134.1 m $158.6 m 200,000+ sqm
Includes six expansion and Adding almost 35,000 sqm of GMT’s remaining greenfield sites
development projects currently rentable area to the portfolio the and value add estates can support
underway together with two larger 11 projects that completed in FY20 the development of more than
build-to-lease projects that will achieved a yield on cost of 6.4% 200,000 sqm of new industrial facilities.
commence once a customer and generated more than $22 million
Develop pre-commitment is secured. of revaluation gains.
Individual Properties Customer Relationships Equity Investors
150+ 200 9,300
GMT’s large estates include more GMT’s 200 customers occupy over New Zealand domiciled institutional
than 150 individual buildings. 1-million sqm metres of space, in high and retail investors make up 57.3%
These properties generate around quality facilities, across Auckland. of GMT’s register. Offshore investors
$145.3 million of annual net rental These are predominantly warehouse own a further 21.3% while the ASX
income (FY20). and distribution focused businesses. listed Goodman Group holds a
Manage 21.4% cornerstone.
Goodman Property Trust Newsletter
SEPTEMBER 2020 | ISSUE 1 1 | Page 3
GoodResults+
Solar Energy Pilot
OfficeMax is an existing customer at Highbrook that is expanding its premises.
As part of the 7,350 sqm warehouse extension, the office product and business
consumable reseller is incorporating an 880 panel, solar array.
warehouse extension
The northern orientation and extensive roof area as an energy source will also offset 39 tonnes of
make the building ideal for solar technology and it is greenhouse gas emissions, annually.
expected that that the new system will provide more
than 20% of the customer’s electricity. John Dakin said, “Sustainability is an increasing
area of focus for all our stakeholders and there are
With over 400,000 kWh of capacity the system is various initiatives underway across the business
expected to generate enough electricity to power that will enhance our corporate performance and
57 New Zealand homes for a year. Using solar reduce our environmental impact.”
| OfficeMax, Highbrook Business Park, East Tamaki
Reducing Greenhouse Gas Emissions
Goodman has been a regular The inventory includes the investment and
operational activities of Goodman in New Zealand
contributor to the Carbon Disclosure relating to Goodman Property Trust. It is a
Project since 2009. comprehensive assessment that includes:
The global reporting initiative encourages + Refrigerants
companies, cities, and states to monitor + Electricity
greenhouse gas emissions and implement + Petrol and diesel for vehicles and diesel fuel
strategies to minimise climate change impacts. for fire pumps
With a continued reduction in our carbon
+ Air travel, domestic and international
emissions and now with independent audit
assurance, we are expecting to improve on + Other travel and freight
last year’s rating of B minus. + Solid waste
Goodman’s greenhouse gas emissions for FY20, The emissions inventory forms part of the
measured in tonnes of carbon, are detailed in the Goodman’s commitment to monitoring and
table below. managing its greenhouse gas emissions. To help
mitigate the impact of climate change the following
Emissions summary tCO2e targets have been adopted:
Scope 1 596.25
1. 100% renewable energy use by 2025
Scope 2 173.05
2. Carbon neutral operations by 2025.
Scope 3 108.01
The emissions inventory and audit assurance
Total inventory: 877.31
report from Toitu are available online — here:
| LED
Goodman
Solar
Electric
lighting
energy
forklifts
are
and
initiatives
progressively
reduce
skylights
allow
emissions
are
renewing
customers
features
andits
of
maximize
to
vehicle
every
reduce
new
fleet,
air
operating
warehouse
quality
with electric
within
costs.
development.
warehouse
cars, as part
spaces.
of its climate strategy.
Goodman Property Trust Newsletter
SEPTEMBER 2020 | ISSUE 1 1 | Page 4
GoodResults+
Supporting
Our Community
The Goodman Foundation is an KiwiHarvest is the largest of these local
partnerships. The food rescue organisation
initiative of the Manager that supports operates a distribution facility from Highbrook
the work of local community groups. Business Park, collecting and redistributing
The aim is to help the vulnerable perishable food that would otherwise be
consigned to landfill.
and improve social outcomes in the
locations where Goodman invests. Last year the organisation rescued and redirected
over 1,250 tonnes of food from businesses across
the country. Equivalent to 3.6 million meals,
| |
KiwiHarvest is collecting and redistributing perishable food Goodman team members volunteering
www.kiwiharvest.org.nz it included surplus produce, protein, mislabelled that would otherwise be consigned to landfill. at KiwiHarvest.
www.nzfoodnetwork.org.nz goods and grocery items approaching expiry.
Demand from social agencies for food parcels has
escalated rapidly as a result of COVID-19 with the volume
of food being collected and distributed by KiwiHarvest
more than doubling during lockdown. To help meet the
growing need and address the waste that occurs in food
production and distribution, the Goodman Foundation
have helped facilitate the establishment of a new national
food rescue network.
With government support, the New Zealand
Food Network is now operating from a new
1,000 sqm facility at Highbrook, next to
KiwiHarvest on Underwood Street. Having
the two organisations side by side, will
create synergies and efficiencies that will
help address the issue of food poverty not
only in Auckland, but across the country.
|
Donations of fresh produce are distributed to social agencies
to help address the issue of food insecurity.
Goodman Property Trust Newsletter
SEPTEMBER 2020 | ISSUE 1 1 | Page 5
GoodResults+
Investor
Centre
The Trust’s website www.goodman.com/nz enables Unitholders to
view information about their investment, download investor forms,
check current prices and view publications and announcements.
Virtual Annual Meeting
With the threat of Covid-19 hanging over this year’s annual meeting the decision
was made to host the event online.
FY21 Key Dates View Goodman’s
Event Calendar online The format of the meeting on 22 July 2020 was a live webcast with Unitholders able to ask questions
and vote through the meeting portal. Presentations were delivered by Keith Smith – Chairman, John Dakin –
Dates below are indicative only and remain subject to change.
Chief Executive Officer and Andy Eakin – Chief Financial Officer. In the formal business of the meeting
Susan Paterson was reappointed as an Independent Director.
17 September 2020 First Quarter Distribution Payment
The meeting address and presentation are available within the investor centre of the website.
23 November 2020 FY21 Interim Result Announcement
17 December 2020 Second Quarter Distribution Payment Click here to view the meeting presentation
18 March 2021 Third Quarter Distribution Payment
13 May 2021 FY21 Annual Result Announcement
17 June 2021 Fourth Quarter Distribution Payment
07 July 2021 Annual Meeting of Unitholders
Disclaimer: This document has been prepared by Goodman (NZ) Limited as manager of Goodman Property Trust. The information
in this document is general information only. It is not intended as investment or financial advice and must not be relied upon as such.
You should obtain independent professional advice prior to making any decision relating to your investment or financial needs. This
document is not an offer or invitation for subscription or purchase of securities or other financial products. Past performance is no
indication of future performance. All values are expressed in New Zealand currency unless otherwise stated. September 2020.
Goodman Property Trust Newsletter
SEPTEMBER 2020 | ISSUE 1 1 | Page 6
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