Goodman Property Trust nears completion of $250m Roma Rd warehouse estate

Goodman Property Trust's chief executive James Spence speaks about their $250m Roma Rd estate. Video / Jason Oxenham

They’ve gone from being called “mad” to nearly fully clad.

Goodman Property Trust is nearing completion of its new $250 million Roma Rd logistics and warehouse development on the ex-Foodstuffs North Island site in Puketāpapa/Mt Roskill.

James Spence, chief executive, showed off progress at the 13.1ha site where predecessor John Dakin said market feedback in 2018 when the trust paid $93m for the site was that “we were mad”.

Spence, development manager Mike Gimblett and project manager Stephanie Field took the Herald on a tour of the estate, expected to be valued at around $230m on completion.

“Over the last couple of years, we’ve developed this site into four buildings,” Spence said. That resulted in building areas of around 45,000sq m.

Now, it’s time for parcels and clothing and soon for lighting equipment to arrive.

The four new buildings are:

James Spence, Goodman Property Trust chief executive, in one of the four Roma Rd warehouses. Photo / James Oxenham

Spence said Federal Construction built the NZ Post Building while Aspec Construction built the other three.

All four warehouses have internal stud heights above a soaring 16m, enabling tall racking systems for maximum efficiencies.

“It’s all about getting more out of your footprint and making it much more economical and at a location so close to the motorway,” Spence said.

Some tenants left warehouses of only 4000sq m to 5000sq m for the much larger footprint buildings the trust was offering, he said. That made a huge difference to their business.

The fourth warehouse at Goodman Property Trust's Roma Rd estate is for lease. Construction is now nearing completion. Photo / Jason Oxenham

Goodman says the area has a population of 700,000 within a 20-minute delivery radius and $23 billion of purchasing power in the surrounding consumer catchment.

Foodstuffs North Island leased the site back from Goodman initially, while its new headquarters were developed at The Landings, Auckland Airport.

Foodstuffs left many decades at Roma Rd to move into New Zealand’s biggest new building with 8ha, equivalent to eight rugby fields.

Chris Quin, Foodstuffs North Island chief executive, said in March 2021 that two new buildings at Māngere were leased for 30 years from Auckland Airport.

The 7.8ha distribution centre (left) beside the 9000sq m head office (right) with its arc roof. Photo /supplied

Those two new buildings are:

Goodman’s largest building is the 52,000sq m Linfox distribution centre at Māngere.

Spence said around 90 per cent of the glass, concrete, steel and wood in the old Foodstuffs headquarters was recycled. In another environmental move at the new Signify warehouse offices, ceiling beams are made of timber instead of steel.

Goodman is aiming for a five-star rating for its new estate, so when complete it will be a carbon-neutral development with automated LED lighting, electric vehicle charging stations, low-flow water fittings, rainwater harvesting and solar panels.

The trust, with a $3.5b market capitalisation, completed management internalisation plans, according to a March 28 announcement.

Spence expressed satisfaction with the time frames on the Roma Rd estate beside State Highway 20.

“We’re finishing the whole development in the next two to three months,” he said.

And in the ultimate segue, Signify’s lights are being used in the four new warehouses to supplement skylights.

Roma Rd Estate

Addresses: 60-64 Roma Rd, Puketāpapa/Mt Roskill;

Site: Foodstuffs sold 13.1ha site to Goodman Property Trust in 2018;

Leased to: NZ Post, Cotton On, Signify;

Stage: expected to be completed in the next two to three months.

Anne Gibson has been the Herald’s property editor for 24 years, has won many awards, written books and covered property extensively here and overseas.