Australian industrial real estate investor Macquarie Goodman plans to launch a major UK logistics fund next year. The fund will be seeded with assets worth AUD $1 bn (EUR 598 mln), but the total amount could grow quickly due to acquisitions and developments in the pipeline, ceo Greg Goodman said during the presentation of the company's interim results.

Australian industrial real estate investor Macquarie Goodman plans to launch a major UK logistics fund next year. The fund will be seeded with assets worth AUD $1 bn (EUR 598 mln), but the total amount could grow quickly due to acquisitions and developments in the pipeline, ceo Greg Goodman said during the presentation of the company's interim results.

Profit after tax came to AUD$302.7 mln for the half year ended 31 December 2006, and operating income came to $253.3 mln, representing growth in earnings per security of 22%. Assets under management increased by 17% to $33.3 billion since June 2006. The profits were boosted significantly by the activities in Europe, where Macquarie Goodman made more than $2.5 bn on acquisitions in the last 15 months.

Goodman said the results in Europe had been 'very satisfying'. The highlights included the facilitation of the purchase of a AUD $1.5 bn portfolio of UK business park properties for its UK business park fund; the acquisition of a AUD $0.5 bn portfolio of UK logistics and office park properties; and the launch of a AUD $1 bn European logistics fund consisting of assets primarily from the company's development programme.