Goodman Supercharges Development as Vacancy Falls and Rents Jump
Our fair value estimate for no-moat-rated Goodman Property Trust is unchanged at NZD 1.45, with Goodman screening as broadly fairly valued, currently trading at NZD 1.54. Over the past four months, Goodman has settled or agreed to the sale of two major office assets, leaving one immaterial asset representing less than 1% of the property portfolio to sell. We are supportive of the disposals as the firm sold its 51% stake in the Wynyard Precinct Holdings joint venture for NZD 324 million, well abo...Goodman Property Trust is engaged in investment in real estate in New Zealand.
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