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Macquarie Goodman extends footprint in China

(Chinadaily.com.cn)
Updated: 2007-03-28 17:21

The Australia-based Macquarie Goodman Group, one of the world’s largest industrial property group, has signed a purchase agreement for a 48,000 square meters distribution centre in Fengxian,Shanghai， involving a total investment of 121 million yuan (US$15.7 million).

Strategically located in Fengxian, one of Shanghai’s major industrial precincts, the property is
directly linked to the major transportation hubs via the A4 expressway. It also provides easy
access to the Pudong International Airport and the Yangshan Deep Sea Port.

Completed in November 2005, this high quality single-storey warehouse facility is 100 percent leased to Lotus, a leading supermarket operator in China and a wholly owned subsidiary of the Thailand-based CP Group. Lotus signed a 10-year agreement for lease in January 2006 and has
expansion rights within the first five years of the term on a site lying adjacent to the existing
facility.

“Thisacquisitionis another major milestone for Macquarie Goodman in China. We are ambitious about the Chinese market and we look forward to further capitalizing on the momentum gained to accelerate our business expansion in the region,” said Philip Pearce, managing director of Macquarie Goodman China.