19 Apr 2012

Goodman Property Trust portfolio value falls

8:00 am on 19 April 2012

The value of Goodman Property Trust's property portfolio has fallen 1% to $1.6 billion.

Independent valuers say the value of the trust's portfolio rose by $3 million but that has been offset by a reduction of $23.4 million in the value of its development land assets.

Chief executive John Dakin says net borrowings are 35.7% of total property assets, which is well within the board's target band of 35-40% and well below the 50% limit specified in its trust deed.