Goodman Property Trust, New Zealand’s biggest listed property investor by market value, is planning two developments at Christchurch’s Glassworks Industry Park for a combined cost of some $NZ20.7 million ($A18.39 million).
The developments are a pre-committed warehouse and distribution facility for logistics operator DHL and a multi-unit development with tyre maker Bridgestone NZ as an anchor tenant, the property trust’s manager, Goodman (NZ), said in a statement on Wednesday.
The project will add 12,147 spare metres to its investment portfolio.
“These projects continue the momentum in our development program, with around $NZ90 million of new projects announced in the first six months of the 2014 financial year,” chief executive John Dakin said.
In September, the property investor said it planned to spend $NZ22.4 million on a new building at its Central Park development in Auckland’s Greenlane.