The sale Pernod Ricard NZ House on Auckland's viaduct precinct got a sum of $27.5 million to Goodman Property Trust, which is now lining up similar sized deals, as it offloads non-core assets to strengthen its balance sheet.

It was expressed by Chief executive John Dakin, "There was a good level of interest which surprised us a little. We've got another one on the market, which we expect to be in a similar range as the Pernod Ricard building."

Dakin informed the shareholders yesterday that the financial position of the company was strong, with debt at 35% of property assets. As of today, the shares climbed 1% to 99 cents, while the NZX 50 index slipped 0.4%.

A gain by 8% was evident in the NZSE Property Group Index in the past month, as commercial property trusts sold assets to repay debt, while managing to retain tenants. It is important to mention that the net profits have suffered a lot due to decreasing property values, with Goodman, Kiwi Income Property Trust, Kermadec Property Fund and ING Property all posting full-year net losses.

After Goodman wrote down the value of its investment and development assets by 10% to $1.5 billion, a loss of $74.1 million was posted by it for the year ended March 31.