Goodman Group hosts ground-breaking for landmark warehouse and distribution development in Hong Kong
March 4, 2010
Goodman Group today hosted the ground-breaking for Interlink, its landmark warehouse and distribution development in Hong Kong’s strategically important Tsing Yi port district.
Valued at more than HK$4 billion (about A$600 million), Interlink is one of the largest industrial development projects being undertaken anywhere in the world and is one of the first major new Hong Kong warehouse projects in nearly a decade.
When completed in January 2012, the 2.4 million square feet (222,000 sqm) development will be the fourth-largest warehouse in Hong Kong.
Designed to high technical and environmental specifications, it will also be among Hong Kong’s most modern and efficient warehousing and distribution centres.
More than 1.2 million sq ft, around half of Interlink’s total gross lettable area (GLA), has been pre-leased and optioned to two leading global logistics operators – DHL Supply Chain (Hong Kong) and Yusen Air & Sea Services (Hong Kong).
In addition, Goodman is also in negotiations with other international logistics players, equivalent to 77 percent of Interlink’s GLA.
The ground-breaking and signing event was attended by some 150 people, including senior representatives from DHL Supply Chain and Yusen Air and Sea Services.
Speaking at the event, Paul Graham, CEO DHL Supply Chain Asia Pacific, says the Goodman Group is one of the major real estate partners for DHL Supply Chain and its total warehouse footprint with Goodman in the greater China and Oceania regions spans more than 248,000 sqm.
Greg Goodman, Group Chief Executive Officer of Goodman, says there’s significant pent-up demand in Hong Kong for efficient and modern warehousing facilities.
“The signing of two such prominent and well-respected companies in the logistics industry is testament to this and also the development’s scale, excellent location and its innovative and high specification of design.
“Interlink marks a new milestone in the Group’s commitment to Asia, and our strategic expansion in Hong Kong and China.
“Supply of efficient warehousing space in Hong Kong is increasingly constrained as demand grows and existing buildings are converted to residential and commercial use.
“Being strategically located for Hong Kong’s container ports, the International Airport and major highways to mainland China, Interlink will introduce approximately 5 percent of prime new space to the local market,” he says.
Located at the heart of Tsing Yi container port and built to Goodman’s environmental and construction standards, Interlink is designed to meet all the needs of modern logistics operators, adds Philip Pearce, Goodman’s Managing Director, Greater China.
“We are delighted that both customers are consolidating their local high value-added logistics operations at Interlink.”