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GOODMAN GROUP Capital/Financing Update 2005
64998_rns_2005-02-22_63bcdae4-8bbf-4375-b92e-fbd19c6a8eb6.pdf
Capital/Financing Update
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ASX Release - Macquarie Goodman Group ("Macquarie Goodman")
Sanofi-aventis signs with Macquarie Goodman
| Date: 23 February 2005 Release: Immediate |
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Sanofi-aventis has committed to 7,000 sqm (70%) of the next stage at Macquarie Goodman's Talavera Corporate Centre in North Ryde, NSW.
Located in the heart of the North Ryde hi-tech area just 14 kilometres north west of the Sydney CBD, Talavera Corporate Centre consists of two recently completed office towers fully occupied by CSC Australia, together with an adjoining development site of 1.9 hectares which will accommodate Buildings C and D.
Sanofi-aventis, Europe's leading pharmaceutical group and one of the largest in the world, has committed to 7,000 sqm and 224 car spaces within Building D at Talavera Corporate Centre. The lease, which represents 70% of the 10,000 sqm tower, is for a term of five vears plus a further five vear option. The net annual commencing rental is \$2.2 million with annual reviews fixed at 3.5%. Building D is due for completion in December 2005.
On the back of strong enguiry levels, Macquarie Goodman has also committed to the development of Building C, which will accommodate an additional 7,250 sqm of space due for completion in March 2006.
Chief Operating Officer, David van Aanholt commented that on completion, the towers will have total project cost of \$71.8 million and additional capital expenditure of \$57.1 million representing yields of 8.0% and 10.0% respectively. "The signing of this precommitment is an important milestone in the continued development of Talavera Corporate Centre. Talavera Corporate Centre will incorporate a gymnasium, a 75 place child care centre and a high quality café as well as other on-site amenities," he said.
Sanofi-aventis' Managing Director Colin Hannah said, "After a long search, Macquarie Goodman was able to provide an excellent, high quality product with the flexibility and scale to bring our two separate offices in North Ryde and Lane Cove under one roof in a true corporate campus at Talavera Corporate Centre."
For further information, please contact Macquarie Goodman:
Mr Gregory Goodman
Chief Executive Officer Tel: (61 2) 9230 7400
Macquarie Goodman Management Limited ABN 69 000 123 071 Macquarie Goodman Funds Management Limited ABN 48 067 796 641; AFSL Number 223621
Ms Javne Gerrie Corporate Communications Manager Tel: (61 2) 9230 7400
Level 10, 60 Castlereagh Street Sydney NSW 2000 GPO Box 4703 Sydney NSW 2001
(02) 9230 7400 Telephone Facsimile (02) 9230 7444 [email protected] www.macquariegoodman.com.au