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Goodman closes its 2015 fiscal year with strong growth in CEE and €20.9 billion in total assets under management globally

Tuesday, 08 September 2015

Goodman (“Goodman” or “Group”), a leading global owner, developer and manager of industrial real estate, closed its 2015 fiscal year, ending 30 June, with €20.9 billion of assets under management (AUM) globally, an increase of 13.6% compared to its last fiscal year. In Central and Eastern Europe, the Group’s AUM reached 833,000 sqm, up 68% from the previous fiscal year. Goodman’s strongest growth in CEE came from the Polish market, where the Group doubled the size of its portfolio to reach AUM of 607,000 sqm. In the Czech Republic and Slovakia, Goodman now manages 47,000 sqm and 78,000 sqm, respectively, with the remaining 102,000 sqm located in Hungary.

During the 2015 fiscal year, signed lease agreements at Goodman’s existing facilities in Central and Eastern Europe and its committed developments totalled 305,000 sqm of logistics space. The Group committed to 11 new development projects representing 192,000 sqm and secured 14 lease agreements at existing facilities totalling 113,000 sqm. Furthermore, Goodman currently has 150,000 sqm of warehouse space under construction in CEE, including speculative development in high demand, low vacancy areas. Approximately 90% of all space under construction in CEE is located in Poland.

 “The past twelve months have been critical in establishing Goodman’s position as a major player in Central and Eastern Europe,” explained Błażej Ciesielczak, Goodman Regional Director for Central and Eastern Europe. “Our robust development activity, particularly in Poland, was backed by our property services teams securing several, often large, leasing deals with current and new customers. This demonstrates the strength of our business model and how our long-term ownership approach is valued by our customers and capital partners.”

 Goodman increases its investments in CEE region

The 2015 fiscal year was the Group’s best year in terms of surface area delivered to customers in the CEE region. Within the past 12 months in Central and Eastern Europe, Goodman completed the construction of approximately 338,000 sqm, with Poland accounting for the vast majority (328,000 sqm). The remaining 10,000 sqm was handed over at Goodman’s flagship development in Senec, Slovakia. 

For the first time, Poland accounted for the largest share of the Group’s completed developments in Continental Europe. This was largely due to the completion of the 123,500 sqm facility leased to Amazon in Wrocław and the 82,400 sqm development leased to the Mousquetaires Group (Intermarché) in Poznań, which was the largest investment completed on the Polish warehouse market in the last half-year. Additionally, the largest development to be delivered in the coming months is a 24,900 sqm warehouse for a leading FMCG distributor at Pomeranian Logistics Centre in Gdańsk. 

Goodman plans to continue increasing its assets under management in CEE and is slated to deliver its first warehouses at three new logistics centres in Poland: Goodman Wrocław IV Logistics Centre, Goodman Poznań Airport Logistics Centre, and Goodman Gliwice Logistics Centre. Pre-lease commitments were coupled with speculative investments at these facilities.

In Hungary, Goodman will continue to ensure full occupancy as well as expand its portfolio through new developments at its land banks near Budapest. At the logistics centres in Gyál and Üllő, Goodman has the capacity to construct a further 130,000 sqm of logistics space. Goodman Senec Logistics Centre in Slovakia will continue to be a priority for the Group in this healthy market, where an additional 85,000 sqm of space can be delivered.

 Strong demand for new facilities across the CEE region

Goodman committed to 192,000 sqm of new logistics space in Central and Eastern Europe during the 2015 fiscal year. Poland was the largest contributor with 166,000 sqm, of which 126,000 sqm has been pre-leased, mainly to new customers. These included, among others, Gestamp in Wrocław (19,500 sqm) and Stock in Lublin (33,400 sqm), of which the latter enabled Goodman to develop its first logistics centre in the promising eastern region of Poland.

 The Group also experienced continued growth at its flagship logistics centres: Pomeranian Logistics Centre in Gdańsk and Goodman Kraków Airport Logistics Centre. Furthermore, Goodman commenced construction at four new parks in Wrocław, Poznań, Gliwice and Lublin.

 In Slovakia, Goodman secured two pre-lease agreements and began construction of new space at Goodman Senec Logistics Centre near Bratislava, with a total area of 26,000 sqm, partly developed on a speculative basis.

 Pre-let agreements were signed with ILS from the Intercars Group in Sosnowiec and KMC Services at Kraków Airport Logistics Centre. 

Flexible and customer oriented approach to property management

Goodman closed the 2015 fiscal year signing approximately 842,000 sqm of logistics space across its existing portfolio in Continental Europe, resulting in an occupancy rate of 98% and a customer retention rate of over 80%. Across CEE, Goodman leased 113,000 sqm at existing properties due to the strong customer focus of the Group’s property services teams.

Goodman’s Toruń Logistics Centre in Poland was one of the most active properties for the Group. Over the course of the fiscal year, the logistics centre reached 100% occupancy by signing a new lease agreement with Mueller Fabryka Świec for 15,900 sqm, and extending lease agreements with existing customers FM Bravo, Yusen Logistics and Nissin, of which the latter increased its warehouse space to 25,700 sqm, making it one of the largest leasing deals on the Polish market in the first quarter of calendar year 2015.

 Successful transactions were also signed at the Pomeranian Logistics Centre in Gdańsk (NTA leased 3,100 sqm) and Goodman Kraków Airport Logistics Centre (distributor of home appliance goods leasing 6,000 sqm).

 Additionally, Goodman’s in-house property team was very active at Goodman Senec Logistics Centre in Slovakia, signing lease agreements totalling 19,400 sqm of logistics space. New customers at the centre, namely Agility, Melzer and NAY, joined existing customer Quehenberger Logistics, which also extended its total lease area.

 The Group reached 100% occupancy in the Czech Republic and Hungary by signing contracts with UTC at Goodman Jažlovice Logistics Park near Prague, Czech Republic and Bosal at Goodman Kecskemét Logistics Center in Hungary.

 Leading European property group

In Continental Europe, the Group signed lease agreements for existing space totalling approximately 842,000 sqm and committed to around 887,000 sqm of new development space, of which Goodman commenced construction of close to 654,000 sqm by the close of the fiscal year. These deals and commitments total more than 1.7 million sqm of logistics space, making FY15 one of the most successful on record for Goodman in Continental Europe.   

 Across Continental Europe, Goodman closed the fiscal year with 501,000 sqm of development work in progress and since has begun the construction of additional 233,000 sqm of logistics space. The core markets of Germany, France and Poland have the most projects under construction and globally the Group has €2.1 billion of development work in progress in 11 countries, of which 65% is pre-committed.   

 To watch an interview with Maciej Madejak, Goodman Head of Business Development for Poland, and learn more about Goodman’s performance in Poland during the 2015 fiscal year click here.

 

- Ends -

 

For further information please contact:

 

NBS Communications

Goodman

Bartosz Sroka

Christopher Flores

Communications Manager, CE

+48 500 202 354

bsroka@nbs.com.pl

 

+32 2 263 4208

Christopher.Flores@goodman.com

About Goodman

Goodman is an integrated property group that owns, develops and manages logistics and business space across Continental Europe, the United Kingdom, the Asia-Pacific region, North America and Brazil. The Group invests in industrial estates and warehouse and distribution centres.

Goodman also offers a range of listed and unlisted property funds, including its flagship European fund Goodman European Logistics Fund (GELF), giving its investors access to a range of specialist services and property assets. Goodman works continually to build value in logistics property and fund management, with innovative new developments, and business and investment offerings.

With total assets under management of €20.9 billion and 411 properties under management, Goodman is the largest industrial listed property group on the Australian Securities Exchange, and one of the largest listed specialist fund managers globally. Its market insight and dedicated local teams create sound investment opportunities and develop properties and environments that meet each client’s individual requirements. 

With more than 1,100 staff in 16 countries and 32 offices, Goodman has the global reach to meet customers’ needs as their businesses expand or evolve. In Europe, Goodman is present in Germany, the Netherlands, Belgium, Luxembourg, France, Spain, Italy, Poland, Czech Republic, Hungary, Slovakia, Sweden and the UK.

For more information please visit: www.goodman.com/hu