Goodman Inks Three Major Lease Deals in Melbourne

June 20, 2011 / Elizabeth Buckley, Commercial Property Analyst

Australian property developer Goodman Group has completed three major lease deals that totaled 84,745 square meters, which boosts the overall activity experienced across its Melbourne portfolio.

Goodman Inks Three Major Lease Deals in Melbourne

The three lease deals include the relocation of Simon Transport, a third party warehousing and distribution business, to larger premises within Goodman’s south east portfolio.

Simon Transport has vacated 6,326 square meters of warehouse space at Clayton Business Park and committed to 31,590 square meters at Kingston Distribution Centre on a new 10 year lease.

A new five year lease for 32,653 square meters signed with Wettenhalls, a national provider of integrated logistics, at Wyndham Distribution Centre in Laverton North.

The Wettenhalls lease will commence immediately after Kmart vacate the premises to move to their new 76,735 square meters facility completed by Goodman at Banfield Distribution Centre in Truganina.

The extension of a 20,502 square meter lease for Kmart at Wyndham Distribution Centre on a further two year term, providing flexibility for Kmart to manage its short-term space requirements, as the customer transitions its operations to its new facility at Banfield Distribution Centre.

These transactions highlight the strength of the leasing activity experienced by Goodman across all areas of its Melbourne portfolio, with more than 151,000 square meter of new leases and renewals secured to date in 2011.

Goodman Group’s General Manager, Australia Jason Little said: “Goodman’s leasing success can be attributed to a quality property portfolio, strong commitment to our customers, and flexible approach to meeting their needs. This in turn is reflected in our ability to attract and retain quality customers.”

Goodman Group is an integrated property group with operations throughout Australia, New Zealand, Asia, Europe and the United Kingdom.

In 2005, the company became known as the Macquarie Goodman Group following successive mergers. It then became the largest industrial property trust on the ASX and fourth largest in the ASX 200 property index.

Goodman Group, comprised of the stapled entities Goodman Limited and Goodman Industrial Trust, is the largest industrial property group listed on the Australian Securities Exchange and one of the largest listed specialist fund managers of industrial property and business space globally.

Goodman’s global property expertise, integrated own+develop+manage customer service offering and significant fund management platform ensures it creates innovative property solutions that meet the individual requirements of its customers, while seeking to deliver long-term returns for investors.

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