Page 31 - GMT and GMT Bond Issuer Annual Report 2017 v2

NOTES TO THE
1. INVESTMENTPROPERTY(CONTINUED) 1.4 Total investment property
FINANCIAL STATEMENTS
This table details the total investment property value.
continued
For the year ended 31 March 2017
$ million
Business park
Highbrook Business Park, East Tamaki M20 Business Park, Wiri
Industrial estate
Savill Link, Otahuhu
The Gate Industry Park, Penrose Westney Industry Park, Mangere Penrose Industrial Estate, Penrose
The Tamaki Estate, Panmure
Connect Industrial Estate, Penrose Glassworks & Southpark, Christchurch
Office park
Greenlane Office, Auckland & Show Place, Christchurch
Total investment property
2017
Stabilised
properties Developments Land
957.1 29.8 132.0 218.3 - 6.3
216.0 4.7 13.4 164.2 8.3 0.4 114.9 - -
59.7 - - 34.9 - - 30.9 - -
- 6.1 2.6
229.7 - 20.0
2,025.7 48.9 174.7
Total
1,118.9 224.6
234.1 172.9 114.9
59.7 34.9 30.9
8.7
249.7
2,249.3
2016
Stabilised
properties Developments Land
789.3 29.6 158.1 174.9 25.4 6.1
171.4 7.5 15.1 153.0 1.3 0.5 118.4 - -
53.4 - - 31.1 - - 27.8 - - 33.4 - 8.1
445.5 - 25.4
1,998.2 63.8 213.3
Total
977.0 206.4
194.0 154.8 118.4
53.4 31.1 27.8 41.5
470.9
2,275.3
SIGNIFICANT TRANSACTIONS
In September 2016, South Park Industrial Estate, 15 Show Place and 23 Show Place were sold for $47.1 million.
In September 2016, the Millennium Centre, Greenlane was unconditionally contracted for sale for $210.0 million. Settlement occurred in March 2017, refer to note 12 for further details of this transaction.
In September 2016, an industrial property and a parcel of land at Glassworks, Christchurch were conditionally contracted for sale for $7.7 million. In October 2016 this contract became unconditional, with settlement expected to occur in October 2017.
In September 2016, GMT entered a conditional contract to acquire two adjoining industrial properties in Henderson, Auckland for $18.9 million. The acquisition remains conditional on Overseas Investment Of ce consent.
During the period nine developments were completed with an independent valuation of $144.8 million.
GOODMAN PROPERTY TRUST ANNUAL REPORT 2017 FINANCIAL STATEMENTS
29 NOTES TO THE FINANCIAL STATEMENTS