Goodman Group (GMG)

Shares / Stock Code

GMG

Stock Exchange / Sharemarket

Australian Securities Exchange

The Goodman Group (GMG) was formerly the Macquarie Goodman Group engages in the ownership, development and management of both the industrial and business spaces with management assets that include distribution and warehouse centres, industrial estates, office and business parks. GMG was listed on the Australian Stock Exchange on the 2nd of February 2005. Its average annual revenue reaches AUD$776.2 million. Its headquarters is located in Sydney, Australia and to date; around 1,300 people are employed in the company. The Goodman Group operates mainly on three business segments: property services, funds management, and development and project management in the Asia Pacific (Australia, New Zealand, Singapore, Hong Kong, Japan and People’s Republic of China) and in Europe.

The property services segment of the Goodman Group is in charge of employing an in-house team that is responsible for the leasing, property management, engineering and building services as well as the company’s due diligence.

The funds management segment of the Goodman Group (GMG) is in charge of the management of approximately 145 properties in the form of different property trusts. This segment is also in charge of managing the Goodman Industrial Trust, the largest domestic property trust and the 7th largest property trust in Australia.

The development and project management segment of the Goodman Group is in charge of managing all the aspects of development process that include the sourcing, making pre-commitments, master planning, design and architecture as well as the authority approvals and managing the project itself.

Aside from the above business segments, the Goodman Group is also in charge of the management and operation of the Goodman Property Trust, the trust that leases out both business and industrial spaces.

Goodman Group Company History

The Goodman Group (GMG) was initially established as The Macquarie Goodman Group when the industrial property funds management division of the Macquarie Bank was acquired by Macquarie Goodman. It was in 2004 when a 395,000 sq m development space was completed by the group. It was also in the same year when a 532,000 sq m office space was leased and other 25 additional properties were secured by the company.

Macquarie Goodman Industrial Trust merged with Macquarie Goodman in February 2005 and was then commenced in the ASX as MGQ. It was in March 2005 when Macquarie Goodman secured industrial properties in Hong Kong as part of its plan to enter the Hong Kong market. A month after, the same company made an announcement of the non-renounceable Public and Priority Entitlement Offer in order to raise funds amounting to $458 million. In June 2005, three places in Southern Australia were acquired by the company and a 20-year pre-commitment was secured by the Goodman Group from Coles Myer Limited for the purpose of developing the New Western Sydney Distribution Centre.

In August 2006, 7.7% of the principal holding of Macquarie Bank Limited in the Macquarie Goodman Group was sold through different institutional investors at the amount of $5.90 for each security. The total sales proceed reached around $733 million and in November 2006, the Macquarie Goodman Group made an announcement that one of the UK funds the group was managing agreed to purchase the Akeler Holdings for 600 million pounds. It was then in December 2006 that a European Industrial Property Fund was established by Macquarie Goodman Group. Finally, in July 2007, the name of the group was changed to Goodman Group.

Goodman Group (GMG) Products and Services

  • Managing industrial property funds
  • Leasing of office and industrial properties
  • Developing office and industrial properties

Goodman Group Competitors

  • AMP Diversified Property Trust
  • DB RREEF Funds Management Limited
  • GPT Group
  • Mirvac Group
  • Multiplex Limited
  • Westfield Group (Australia)

Goodman Group (GMG) Locations and Subsidiaries

Goodman Group Headquarters
60 Castlereagh Street, Level 10
SYDNEY NSW 2000
Phone: (02) 9230 7400
Fax: (02) 9230 7444

Goodman Group (GMG) Share Price

Submitted by Share Trading on 5 June, 2008 - 21:56

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