GMT
James Spence - Goodman Property Trust - CEO
Yeah, thank you, and hello, and welcome everybody to the results presentation for GMT for the six months to September. I'm James Spence, CEO; and with me is Andy Eakin, CFO.
Start over on page 4. Our concentration in supply constrained markets is supporting demand for our properties as customers look to improve their supply chains and increase their productivity through more efficient warehousing and distribution.
With near zero vacancy, the Auckland industrial market continues to outperform. Supply remains tight with speculative product under construction across Auckland, amounting to less than 0.5% of total existing stock.
While high construction and financing costs continued to be a barrier to entry to commencing new developments, our value add portfolio continues to be re-leased at competitive holding yields, while optionality for future redevelopment has been introduced where possible. This dynamic is driving strong growth and underlying cash flows for GMT.
Our robust capital position, which Andy will outline later means we are in a well
Half Year 2024 Goodman Property Trust Earnings Call Transcript
Nov 23, 2023
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