Goodman Property Trust says expansion plans at its Highbrook Business Park in Auckland are evidence of improving business confidence.
On Monday, Goodman announced a 13,915 square metre expansion of industrial space at Highbrook situated in the suburb of East Tamaki.
Four new development projects costing $23.7 million are expected to generate the company about $2 million of annual rental income.
Existing tenants Viridian Glass, Contract Logistics and Big Chill Distribution are enlarging their facilities, while a new office and warehouse facility are being reconfigured for the Just Group.
Goodman chief executive John Dakin says the expansion is a result of individual businesses turning their increased confidence about the future into action.