Acquisition of 11 Turin Pl, Settlement of 27 Zelanian Dr
NZX and media announcement 2 February 2017
ACQUISITION OF 11 TURIN PLACE, SETTLEMENT OF 27 ZELANIAN DRIVE
NZX listed industrial property landlord Property for Industry (PFI) has today announced the purchase of an
industrial property located at 11 Turin Place, East Tamaki, and the settlement of the sale of an industrial property at
27 Zelanian Drive, East Tamaki.
11 Turin Place, East Tamaki
PFI is pleased to announce that the company has today settled the purchase of an industrial property at 11 Turin
Place, East Tamaki.
The property comprises 6,936 sqm of warehouse, 1,072 sqm of breezeway canopies and 457 sqm of office and
amenities on a 1.9 hectare site, and is leased for 15 years to Thermakraft, a market leader in building and wall
wrap, roofing underlay, and window flashing tape. The lease provides fixed rental growth of 4.55% every two years.
The property was purchased in a sale and lease back transaction for a net purchase price of $14.2 million,
representing a yield on purchase of 6.5%.
27 Zelanian Drive, East Tamaki
Further to the announcement on 13 December 2016, PFI is also pleased to announce the settlement of the sale of
a vacant industrial property at 27 Zelanian Drive, East Tamaki, for a net sales price of $8.3 million.
Further details
Further details of this acquisition and divestment will be provided during PFI’s annual results webcast, which is
scheduled for Monday, 13 February 2017 at 11.00 am NZT. To view and listen to the webcast, please visit
http://edge.media-server.com/m/p/cztizxmi.
Contact
For further information please contact:
Simon Woodhams Craig Peirce
General Manager Chief Financial Officer and Company Secretary
Phone: +64 9 303 9652 Phone: +64 9 303 9651
Email: woodhams@propertyforindustry.co.nz Email: peirce@propertyforindustry.co.nz
About PFI
PFI is New Zealand's only listed company specialising in industrial property. PFI's portfolio of 84 industrial properties
in Auckland, Hamilton, Mount Maunganui, Wellington and Christchurch, is leased to 144 tenants.
www.propertyforindustry.co.nz
Data sourced from publicly available filings. Our datasets may not be complete. Automated analysis can produce errors. If you believe any data on this page is incorrect, please contact us at hello@nzxplorer.co.nz. For informational purposes only. Not investment advice.
Other issuers discussed similar conditions around this time
Matched by meaning across NZX announcement text, not keywords — based on our semantic index of announcement bodies.
- APL — Asset Plus: Announcement of NPT Shareholder Meeting2017-03-29
“22 Stoddard Road, Auckland Value $35.0 million Net lettable area 8,412 sqm Capitalisation rate 6.6% Passing yield 6.4% Occupancy 100.0% WALT 5.2 years Heinz Wattie’s Distribution Centre, Hawke’s Bay Value $27.2 million Net lettable area 60,059 sqm Capitalisation rat…”