1 Oct 2014

Investment market strong, says Goodman

8:26 am on 1 October 2014

The manager of the Goodman Property Trust says the investment market is very strong at the moment, and overseas buyers are looking to New Zealand.

Australian fund manager Quattro Asset Management is looking to acquire properties from two of New Zealand's largest listed property investors worth millions of dollars.

Goodman is negotiating the sale of two of its Auckland properties, Enterprise Park in Wiri and SuperCheap Auto, part of the Savill Link Estate in Otahuhu which could net it about $90 million.

Precinct Properties has also announced it is in negotiations with Quattro, for the sale of 125 The Terrace in Wellington and SAP Tower in Auckland.

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

Goodman Property Trust manager John Dakin said the strength of New Zealand's economy is attracting overseas investors.

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

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