Christchurch Divestment

NZX and media
announcement
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7 July 2020


CHRISTCHURCH DIVESTMENT

Property for Industry Limited (PFI, the Company) is pleased to announce the divestment of an industrial
property at 127 Waterloo Road in Christchurch.

With an up-coming lease expiring in March 2021, Colliers International marketed the property for lease
or sale, and an agreement has now been reached to sell the property for a gross sales price of $4.410
million. The property was last valued in December 2019 at $4.350 million.

Simon Woodhams, Chief Executive Officer, noted: “Following an extensive marketing campaign, the
sale of this property to an owner-occupier ahead of the December 2019 book value is an excellent result.
We will recycle the funds from this sale into the value-add strategies currently underway within the
existing portfolio.”

Settlement of the divestment is expected to take place in April 2021.

ENDS




















ABOUT PFI & CONTACT

PFI is an NZX listed property vehicle specialising in industrial property. PFI’s nationwide portfolio of 93 properties is leased to
141 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