Goodman Group [ASX:GMG] shares have grown by 35%, as of this morning.
Their shares are trading at $8.54, a significant increase from last months $7.68 a share.
Goodman Group operates throughout the world, specialising in integrated property.
Their market cap stands at $15.387 billion, and enterprise value at $15.95 billion.
Return on assets is 3.67%, while return on equity sits healthily on 8.96%
Goodman Group steadily moves forward with its business plan
The industrial site in Alexandria will be transformed by Goodman Group.
Goodman group submitted an application to the City of Sydney in order to be granted approval for a proposal change.
Part of their project is to connect two campus-style buildings together located on Bourke Road Alexandria.
Architect Jackson Teece believes the project will enhance the overall visibility of the site, while providing new employment opportunities.
The Alexandria Industrial Estate will be developed further for a number of warehousing buildings.
In 2017, Goodman bought out 2.3 hectare industrial site in Sydney in Banksmeadow located in the Port Botany industrial area for $25.2 million.
Sydney has gone through a significant amount of commercial growth and Goodman wish to capitalise.
Goodman and Brickworks are working together on the Oakdale Industrial Estate which is a joint venture. It covers 300 hectares of prime industrial land.
General Manager of Goodman Australia, Jason Little stated:
‘Goodman has a productive relationship with Costco both here in Australia with its Moorabbin Airport warehouse in Victoria and in the US, with its Goodman development in Eastvale, California, and we welcome Costco to Oakdale here in NSW.’
Oakdale has seen millions of dollars in employment generating development. When the estate is completed it can potentially have a total end value of $2 billion dollars and generating thousands of jobs.
For Markets & Money
PS: It’s never fun when a recession unexpectedly creeps up on us. In any case, one must always prepare for such an outcome to occur. Vern Gowdie from Markets & Money knows all the ins and outs of a recession, his free report ‘The Aussie Recession Survival Guide’ will help steer you in the right direction.