Albany Divestment
NZX and media
announcement
—
23 October 2019
ALBANY DIVESTMENT
Property for Industry Limited (PFI, the Company) is pleased to announce the divestment of a mixed-use
property at 229 Dairy Flat Highway in Albany, Auckland, to a private investor.
Colliers International marketed the property, which has been sold for a gross sales price of $33 million.
The property was last valued in December 2018 at $28 million.
The divestment follows the completion of a number of asset management initiatives at the property and
is the first of a series of planned divestments of PFI’s non-industrial properties.
Simon Woodhams, Chief Executive Officer, noted: “In keeping with PFI’s strategy, the funds from this
sale will be reinvested into quality industrial properties in sought-after areas, and value-add strategies
within the existing portfolio.”
Settlement of the divestment is scheduled to take place in early December 2019.
ENDS
ABOUT PFI & CONTACT
PFI is an NZX listed property vehicle specialising in industrial property. PFI’s nationwide portfolio of 94 properties is leased to
148 tenants.
For further information please contact:
SIMON WOODHAMS CRAIG PEIRCE
Chief Executive Officer Chief Finance and Operating Officer
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Phone: +64 21 749 770 Phone: +64 21 248 6301
Email: woodhams@propertyforindustry.co.nz Email: peirce@propertyforindustry.co.nz
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Property for Industry Limited
Shed 24, Prince’s Wharf, 147 Quay Street, Auckland 1010
PO Box 1147, Shortland Street, Auckland 1140
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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.
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