By Digifin Pty Ltd · About this coverage
Key Points
- Total portfolio of A$90.0 billion at 30 September 2026, with Partnership assets under management of A$76.1 billion
- Development work in progress of A$19.7 billion across 51 projects at an 8.3% yield on cost
- Power bank of 6.6 GW, of which 3.6 GW is secured
- Targeting FY27 operating EPS growth of 9% and a distribution of 30.0 cents per security
About Goodman (ASX:GMG)
Goodman Group is an ASX-listed property group headquartered in Sydney. It develops, owns and manages industrial and logistics estates and data centres, and manages property funds for third-party institutional investors. Its securities trade on the ASX as stapled securities, and its portfolio and development pipeline cover Australia and New Zealand, Asia, continental Europe, the United Kingdom and the Americas.
Goodman (ASX:GMG) released its Q1 FY27 operational update to report portfolio, development and data centre metrics to 30 September 2026 and to state its FY27 targets of operating EPS growth of 9% and a distribution of 30.0 cents per security.
Figures are in AUD unless stated. The total portfolio, which includes Group, Managed Partnerships and Partnership Investments, is A$90.0 billion, with Partnership assets under management of A$76.1 billion. Development work in progress is A$19.7 billion across 51 projects at a yield on cost of 8.3%, of which 31% is pre-committed and 68% is pre-sold or being built for third parties or Partnerships. Data centres under construction are 79% of work in progress. Of the data centre projects, 0.5 GW is in work in progress, with staged delivery between early 2027 and 2030. The power bank is 6.6 GW, of which 3.6 GW is secured. Annual like-for-like NPI growth is 4.0% (6.2% excluding Greater China). For Partnership industrial and warehouse assets, which exclude properties earmarked for sale or redevelopment, Goodman reports occupancy of 95.5% and a WALE of 4.9 years. It raised US$455 million for the Goodman Hong Kong Data Centre Partnership.
The targets are subject to there being no material adverse change in market conditions or other unforeseen events. Goodman says advanced negotiations are under way for full-building commitments from hyperscale customers on several sites, but the release does not name customers or state when commitments will be executed. Like-for-like reversion in China remained negative.
Source: Goodman Group (ASX:GMG), 4 November 2026. Summary content supplied by Digifin Pty Ltd.
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