GMT expands portfolio with Mt Wellington acquisition

Goodman Property Trust, which owns Highbrook Business Park, pictured, has conditionally acquired Sky Network Television’s Campus in Mt Wellington.

Goodman Property Trust, New Zealand’s leading warehouse and logistics space provider which owns Highbrook Business Park, has conditionally acquired the Sky Network Television (SKT) Campus in Mt Wellington for $56 million.

The purchase includes adjoining properties at 10-16 Panorama Road and 34 Leonard Road with a combined site area of 4.45 hectares. SKT is committing to a lease-back over a proportion of the 17,251 sqm facility.

Goodman CEO John Dakin said the purchase of the Mt Wellington Campus complements its existing portfolio.

“We expect the remaining space to lease quickly but, ultimately, these sites will be amalgamated and redeveloped into an urban logistics estate that maximises the value of the central Auckland location.”

With settlement expected in March 2022, the acquisition remains conditional on further due diligence and Goodman board approval.