Goodman Group (Goodman or Group), a global owner, developer and manager of industrial real estate, has successfully concluded the first half of its 2016 financial year (FY2016), signing lease agreements for almost one million sqm of logistics space in Continental Europe, with over 720,000 sqm currently under construction, of which approximately 544,000 sqm commenced in the reporting period.
In the Benelux, Goodman signed agreements for a total leasable area of 158,000 sqm. This success is led by strong leasing activity within Goodman’s existing portfolio, maintaining occupancy at 100% in Belgium and the Netherlands. Furthermore, the Group is looking to expand its presence in Europe’s two most important countries for logistics real estate.
Robust portfolio in Belgium
During the first half of its fiscal year, Goodman saw strong leasing activity across its property portfolio in the Benelux, totalling 96,000 sqm. In Belgium, Goodman secured an important lease extension with third party logistics provider Distrilog for a 45,000 sqm facility in Willebroek. The property will be upgraded with LED and motion detection lighting systems to improve the operational efficiency of the building.
“The lease extension demonstrates our dedication in maintaining the quality of our properties as a long-term owner and manager of industrial real estate. Our goal is to always provide the best facilities for our customers and sustainability and reducing resource consumption is playing a bigger role in this equation,” said Kim Cornille, Goodman Country Manager for Belgium.
Additionally, Goodman is currently completing one of the largest development projects in Belgium, a 52,000 sqm turn-key development for Mobis, which also features LED and motion sensor lighting. Goodman is also seeking to expand its portfolio through the active marketing of several land banks, such as Puurs, with a total leasable area of 25,000 sqm, which can be divided into smaller units.
Growing footprint in the Netherlands
During the reporting period, Goodman signed one of the largest development deals in the Netherlands with logistics services provider Nabuurs for a 61,700 sqm European distribution centre. The new facility will feature LED and motion sensor lighting that will lower consumption costs and CO2 emissions.
In Goodman’s existing portfolio, lease extensions were secured with Tommy Hilfiger (26,000 sqm) and Kuehne + Nagel (25,000 sqm), located in Venlo and Helmond, respectively.
“It has been an exciting start to the fiscal year, one that shows the quality of our property solutions and the attractiveness of our existing portfolio,” commented Tia van Beek, Goodman Country Manager for the Netherlands.
To help expand the portfolio, Goodman will actively market its landbank in Venlo, where the Group can develop up to 20,000 sqm of new logistics space.
Global trends and results
Goodman continues to capitalise on the strong global demand for modern, high quality logistics space in prime gateway cities.
In the first half of FY2016, the Group’s total assets under management increased to €22.4 billion, up 10% compared to FY2015. The Group had 72 new development projects in progress across 11 countries globally. Across the core investment portfolio, occupancy was maintained at 96%.
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