Goodman Group, which develops and owns industrial space and manages them, declared that it has taken possession of two Kunshan located land sites along with the connected development prospects.
Helmond Logistics Centre, Netherlands. Credit: Goodman Group
The properties include a 120,000 sq m construction site at Jinxi, Kunshan with a pre-agreed contracted accord with DB Schenker for a build-to-suit facility measuring 47,000 sq m and a 97,500 sq m land site at Yushan, Kunshan comprising a warehouse measuring 26,000 sq m and free land area measuring 53,000 sq m for development in future.
Goodman Group intend to develop and complete the 120, 000 sq m land site at Jinxi Economic industrial park where the build-to-suite construction for DB Schenker is to come up in two stages to provide prime logistics space of 74,000 sq m. The first phase of the construction is anticipated to be finished by August 2012. The value of the Jinxi site, which is presently owned by the group is estimated to cross RMB200 million (US$31 million) when the construction at the site is completed.
Goodman acquired the Yushan site, which includes a warehouse and land for development on behalf of Goodman China Logistics Holding (GCLH), its China fund. The 26,000 sq m warehouse facility at the site is rented to Jiayou, a TV retailing company, Kunshan Huadong Warehousing and Transportation, a logistics providing company and Toyota. The company has an idea to construct two warehouses with a combined storage facility of 29,000 sq m over the additional 53,000 sq m land area available. Completion of the proposed development is anticipated to yield a property value of around RMB200 million (US$31 million).
Source: http://www.goodman.com/