Global logistics real estate firm Goodman Group has invested 拢75m (鈧�86m) to buy a UK warehouse facility, bringing its total global acquisitions in the past four months to A$1bn (鈧�644m).
The company has acquired the warehouse facility in Enfield, on the outskirts of London.
Greg Goodman, Goodman Group CEO, told 麻豆映画 Real Assets that newly acquired UK asset 鈥渨ill deliver good income for the next four to five years鈥�. The intention, he said, was to redevelop the site then.
鈥淭his is something that we do,鈥� he said. 鈥淲e acquire sites in our key markets every quarter or every half (year) to add to our development book.鈥�
The pipeline, he added, had reached A$8.4bn at the end of 31 December 鈥� up 95% on the corresponding period of last financial year.
As it bought new sites, the company continued to recycle its portfolio. Last March, It had sold a portfolio of warehouses in central and Eastern Europe to for 鈧�1bn.
Earlier Goodman told analysts at the company鈥檚 December half-year earnings call the decision to sell the portfolio in Europe was to 鈥渞eset鈥� its European business.
Goodman said that the group would recycle less than A$1bn in asset sales in the second half of the current financial year.
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