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Goodman announces acquisition of prime 30,000 sqm bay area development site Tokyo

Wednesday, 28 March 2012

Goodman Group (“Goodman” or “the Group”) today announced that it has acquired a prime 30,000 sqm bay area, logistics development site located only 30 minutes from the Tokyo CBD, Japan.

Key details include:

  • Strategically located in an established logistics area, a short distance to the Tokyo CBD and with easy access to Haneda Airport, Tokyo Seaport, Kawasaki Seaport and Yokohama Seaport
  • Goodman  is  in  advanced  discussions with  several  high  quality logistics  service providers to pre-lease a 60,000 sqm modern, multi-tenant logistics and distribution centre with ramped access to all floors, which is to be constructed on the site
  • Estimated completion value in excess of JPY13.5 billion (A$155 million)

Goodman Japan President and CEO, Mr. Paul McGarry commented: “Late last year we acquired a prime logistics development site in Osaka Bay. At the time we outlined our strategy to generate superior returns through the acquisition and development of prime land parcels and the provision of flexible solutions that meet the needs of our customers. We are very pleased today to announce this acquisition in a key, well-established industrial area in Tokyo, where development land is particularly scarce and customer demand outweighs possible supply. This is another transaction we have executed off-market, demonstrating the strength of our platform, people and relationships. In addition to this transaction we are currently in due diligence on a number of other new and exciting opportunities which we expect to execute in the near future”.

Goodman Group CEO, Mr. Greg Goodman commented: “Our team in Japan continues to perform strongly and today’s announcement is the latest in a number of successes, commencing with the Osaka Bay acquisition last year and recently with the refinance of JPY37 billion (A$425 million) of debt on very attractive terms. Our team has also just completed the profitable sale of a portfolio of small assets which included the realization of development profits, whilst retaining the property management role and I expect the positive momentum in our business in Japan to continue to build in the coming months”.

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For further information, please contact:
Mathew Werner
Group Corporate Communications Manager
Tel +61 2 9230 7159


Mari Tokaji
Assistant Manager, Central Executive, Goodman Japan
Tel +813 6910 3341


About Goodman Group

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

For more information please visit www.goodman.com