Goodman Confirms Developments for Staples and Kmart, Delivering Approximately 100,000 sqm of New Logistics SpaceBy Goodman Group, PRNE
Monday, January 25, 2010
SYDNEY, January 27 - Goodman Group (Goodman), the integrated property group which owns,
develops and manages business and logistics space globally, has announced two
significant new pre-committed developments:
- a 21,500 sqm distribution centre for Staples, formerly known as Corporate Express, the world's largest office products company. In a separate transaction, Goodman has agreed terms to sell the completed development to Swedish investor Hemfosa Fastigheter for circa SEK 140 million (AUD 21 million). - a 76,735 sqm warehouse and office facility in Victoria, Australia for Kmart, one of Australia's largest discount department store retailers.
The bespoke distribution centre being constructed for Staples is on a
47,934 sqm site, which is strategically located in Vaxjo, Sweden. It will
enable Staples to consolidate its existing warehouse operations in Vaxjo and
Boras into a single facility that will include 24 loading docks and 1,600 sqm
of office space. The Vaxjo site is accessible by the RY 30 highway and is
adjacent to the local airport.
The new warehouse will benefit from a number of energy efficient and
sustainable features including extra insulation and an energy efficient
lighting system, reflecting both Goodman and Staples' commitment to
developing and operating an environmentally conscious building.
Goodman's existing relationship with Staples, combined with the quality
of its product, technical knowledge and customer service, was key in their
decision to select Goodman to develop the facility on its behalf in Sweden.
Goodman is working together with longstanding contractor partner NCC to
construct the new facility, which is expected to be completed by autumn 2010.
In Australia, the 100% pre-committed facility to be developed for Kmart
includes a 75,000 sqm warehouse, 1,735 sqm ancillary office space and a
container hardstand area, with a 15 year lease term and options. The
development, which is expected to be completed in February 2011, will have an
end value of approximately $65 million.
Goodman Group Chief Executive Officer, Mr Greg Goodman said, "We are
committed to working with customers such as Staples and Kmart to deliver high
quality, tailored property solutions. These latest transactions follow the
announcement in December of the Interlink development in Hong Kong, and
demonstrate the renewed focus on our core business model, and the
reactivation of our development pipeline around the world."
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This document has been prepared by Goodman Group (Goodman Limited (ABN 69
000 123 071) and Goodman Funds Management Limited (ABN 48 067 796 641) (AFSL
223621) as the Responsible Entity for Goodman Industrial Trust (ARSN 091 213
839)). The details in this press release provide 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. This media release is not an offer or invitation for
subscription or purchase of securities or other financial products.
For more information, please contact: Goodman Group Greg Goodman +61-2-9230-7400 FD Dominic Morgan +44(0)20-7269-9343 email@example.com
For more information, please contact: Goodman Group: Greg Goodman, +61-2-9230-7400; FD: Dominic Morgan, +44(0)20-7269-9343, dominic.morgan at fd.com
Tags: australia, Goodman Group, sweden, Sydney