6 Aug 2009

Property investment company tips market pick-up

3:10 pm on 6 August 2009

Goodman Property Trust says it expects economic conditions to improve later this year and activity in the property market to pick up.

At its annual meeting on Wednesday, the property investor and developer told shareholders it expects to pay out 8.5 cents a unit to investors.

It said its financial position is robust, with debt at 35% of property assets.

Chief executive John Dakin says the year's rental income is already 90% secured. He says the trust has renewed many long-term leases, offering tenants sweeteners.

Mr Dakin says the trust expects development activity to be reasonably quiet and possibly not increase for six to 12 months.