Oct 29 2013
Goodman Group (Goodman or Group), the global integrated property group which owns, develops and manages industrial space, is pleased to announce that it has signed an agreement to develop a 33,300 sqm built-to-suit facility for BMW Brilliance Automotive Limited (BMW Brilliance Automotive) in Hebei Province, China.
Photo: Goodman Citylink
The new built-to-suit facility, will be BMW Brilliance Automotive's regional distribution centre for car auto parts in Northern China.
Philip Pearce, Managing Director Greater China for Goodman, said, "We are delighted to be developing this prime facility for BMW Brilliance Automotive, which is a testament to our reputation as a global provider of high quality warehousing solutions. Automotive industries have unique specifications and our built-to-suit approach demonstrates our capability to deliver the individual operational needs for customers in the automotive sector, which in turn enables them to effectively and efficiently service their customers."
"We continue to see significant demand for high-quality warehousing space in Northern China. We are well positioned with the extensive resources, access to capital and a significant land bank, as we focus on the continued expansion of our footprint in this region."
The new distribution centre for BMW Brilliance Automotive forms part of the Goodman Citylink development, which is located in the Yanjiao Economic and Technological Development Zone in Hebei Province. Goodman Citylink comprises an existing 26,500 sqm warehouse, with a long-term lease to a multinational retailer and a further five single-storey prime warehouses currently under construction. On completion in July 2014, Goodman Citylink will provide a gross floor area of 130,000 sqm, with an end value of approximately US$90 million.
Mr Christian Mueck, Vice President Aftersales of BMW Brilliance Automotive, said, "As we continue to expand in mainland China which is the world's largest automotive market, it is critical that we work with a strong and reliable partner like Goodman. Goodman Citylink is in an excellent location for our regional distribution centre and its quality and layout will allow us to further enhance our operational efficiencies and customer satisfaction."
Goodman is expanding in China at a rapid pace, with development work in progress of 530,000 sqm in key cities including Shanghai, Tianjin, Chengdu, Langfang, Changzhou, Hefei and Nanjing. The Group has a land bank of 4.3 million sqm, comprising secured and controlled land, and has the capability to increase its development book to approximately 800,000 sqm over the next 12 months.
BMW Brilliance Automotive Limited is a joint venture between BMW and Brilliance Auto. Its principal activity is the production, distribution and sale of BMW passenger cars in mainland China.
Press release avilable from https://www.globenewswire.com/