Announcement

TRANSACT: PFI: Acquisition of Avondale Industrial Property 02:12pm 
PFI
19/10/2021 14:12
TRANSACT
NOT PRICE SENSITIVE
REL: 1412 HRS Property for Industry Limited

TRANSACT: PFI: Acquisition of Avondale Industrial Property

ACQUISITION OF AVONDALE INDUSTRIAL PROPERTY

Property for Industry Limited (PFI, the Company) is pleased to announce the
acquisition of an industrial property located at 32 Honan Place in Avondale,
Auckland for $3.1 million.

The acquisition of this 1,436 sqm site provides PFI with the opportunity, in
time, to create an access road to the Company's 14,740 sqm neighbouring
property at 15 Jomac Place, along with additional car parking.

The Property is leased on a short-term basis for ~$108,000, with the assessed
market rent being ~$130,000, resulting in a purchase yield of 3.5% and a
yield on the assessed market rent of 4.2%.

PFI Chief Executive Officer, Simon Woodhams, notes: "The acquisition of this
core generic Auckland industrial property, with the potential for integration
with the neighbouring PFI property, continues to build our presence in the
Rosebank Road area, one of our preferred Auckland industrial precincts."

Settlement of the acquisition of the Property will take place on the 10th of
November.

ENDS

ABOUT PFI & CONTACT

PFI is an NZX listed property vehicle specialising in industrial property.
PFI's nationwide portfolio of 96 properties is leased to 149 tenants.

For further information please contact:

SIMON WOODHAMS
Chief Executive Officer
----
Phone: +64 21 749 770
Email: woodhams@pfi.co.nz

CRAIG PEIRCE
Chief Finance and Operating Officer
----
Phone: +64 21 248 6301
Email: peirce@pfi.co.nz

Property for Industry Limited
Shed 24, Prince's Wharf, 147 Quay Street, Auckland 1010
PO Box 1147, Shortland Street, Auckland 1140
www.propertyforindustry.co.nz
End CA:00381245 For:PFI Type:TRANSACT Time:2021-10-19 14:12:24

Click here to view related attachments.