Acquisition of Avondale Industrial Property
NZX and media
announcement
—
19 October 2021
Page 1
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 10
th
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
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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