SHANGHAI, CHINA - Goodman Group (Goodman or Group), the global integrated property group which owns, develops and manages industrial space, is pleased to announce that it has signed a second agreement with BMW Brilliance Automotive to add 12,270 sqm to the built-to-suit facility in the Goodman Citylink development in Hebei Province, China.
BMW Brilliance Automotive Limited is a joint venture between BMW and Brilliance Auto. Its principal activity is the production, distribution and sale of BMW passenger cars in mainland China. BMW Brilliance Automotive has experienced strong growth over the last 12 months, requiring a further 12,270 sqm of new space to be added to the initial 33,000 sqm pre-commitment it signed in October 2013. On completion, the new built-to-suit facility will have a total gross floor area of 45,500 sqm. It will replace BMW Brilliance Automotive's three existing distribution centres which are separately located across Beijing, to become BMW Brilliance Automative's regional auto parts distribution centre in Northern China.
Philip Pearce, Managing Director Greater China for Goodman, said, "We are delighted to extend our cooperation with BMW Brilliance Automative and accommodate the rapid growth of their business. This agreement is also a testament to our development capability and flexible approach to meeting the specific business and operational requirements of our automotive industry customers."
Mr. Pearce added, "The demand for high-quality warehousing space continues to surge in Northern China, and is driving the expansion of our footprint in this region, backed by our extensive resources, access to capital and a significant land bank."
Mr. Michael Clark, Senior Manager -- Parts Logistics of BMW Brilliance Automotive, said, "With our ongoing growth in mainland China, it is crucial that we work with a strong and reliable partner like Goodman. The excellent location and quality of Goodman Citylink will enable us to respond swiftly to our clients' demands, and shorten the distribution and delivery time for auto parts in the region. We look forward to cooperating with Goodman in other markets in the near future."
Located in Yanjiao Economic and Technological Development Zone, Langfang in Hebei Province, Goodman Citylink is in close proximity to the 6th Ring Road, which links to downtown Beijing. Goodman Citylink comprises an existing 26,500 sqm warehouse, with a long-term lease to a multinational retailer and a further five high quality, single-storey prime warehouses. It will provide a total of 130,000 sqm of prime logistics space and have a market value of US$90million on completion.
By Anne-Isabelle Degryse-Blateau (info@koreaittimes.com)
