In FY21, Goodman has remained flexible and adapted to the changing conditions. Customer demand for space continued to increase across a range of industry segments and the prolonged impacts of the global pandemic accelerated our consumers’ propensity to shift to online shopping. Logistics and warehousing have provided critical infrastructure to enable distribution of essential goods to time-sensitive consumers through this period.
We have a diverse range of 1,600 customers across e-commerce, logistics, retail, consumer goods, automotive, pharmaceutical and technology industries.
Our development workbook remains robust as we continue to focus on infill markets, resulting in high levels of pre-commitment. Our projects have been increasing in scale and value with the average development period for projects now 19 months. Repositioning and redevelopment of existing assets is increasingly contributing to the future activity, with 50% of our development sites now brownfields. We have progressed projects through planning and undertaken infrastructure work over a number of years to make sites available for expected customer demand.
Our assets under management grew solidly and our Partnerships delivered average returns of approximately 18% with strong income and capital growth. We’re also well capitalised with gearing low and liquidity high, including $18.1 billion available through our Partnerships.
Market conditions are strong in our sector. Continued growth in the digital economy is giving our customers confidence to grow too. Our global portfolio is well positioned to facilitate their needs.
