30 Sep 2014

Goodman negotiates Auckland sales

2:11 pm on 30 September 2014

Australian fund manager, Quattro Asset Management, is looking to snap up properties from two of New Zealand's largest listed property investors.

Manager of the Goodman Property Trust is negotiating the sale of two of its Auckland properties which could net it around $90 million.

Goodman is in discussions with Quattro, over the sale of Enterprise Park in Wiri and SuperCheap Auto, part of the Savill Link Estate in Otahuhu.

Goodman says the sale remains conditional on certain factors that are not expected to be confirmed until later this year.

Chief executive John Dakin said the two assets are stand alone in nature, whereas Goodman is looking to build industrial estates.

Mr Dakin said market conditions are good for selling and developing properties at the moment.

Precinct Properties has also announced today that it is in negotiations with Quattro Asset Management.

It is discussing the sales of 125 The Terrace in Wellington and SAP Tower in Auckland.

Precinct said the properties have a combined book value of $159.4 million.

And a commercial property investor survey by Colliers International has found confidence was high in the three months to September, but investors were being cautious.

Colliers said that while confidence was strong it had tempered recently, with a steady as she goes sentiment among investors, due to expected interest rate rises, and stable business and consumer confidence.