330 Devon Street East Divestment

NZX and media
announcement
—
29 July 2022

Page 1

330 DEVON STREET EAST DIVESTMENT
Property for Industry Limited (PFI, the Company) is pleased to announce the divestment of the
Company’s 330 Devon Street East property in New Plymouth.

Bayleys marketed the property, which has been unconditionally sold for a gross sales price of $2.250
million, representing a yield of 5.4%. The property was last valued in December 2021 at $2.325 million.
Settlement of the divestment is scheduled to take place mid-August 2022.

PFI is also pleased to advise that marketing has commenced for the divestment of the Company’s last
significant non-industrial property. Following the completion of seismic works and the commencement
of a new 20-year lease, Shed 22, 23 Cable Street in Wellington is being marketed by for sale by CBRE.

ENDS





















ABOUT PFI & CONTACT

PFI is an NZX listed property vehicle specialising in industrial property. PFI’s nationwide portfolio of 97 properties is leased to
around 135 tenants.

For further information please contact:

SIMON WOODHAMS
Chief Executive Officer
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Phone: +64 21 749 770
Email: woodhams@pfi.co.nz
CRAIG PEIRCE
Chief Finance and Operating Officer
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Phone: +64 21 248 6301
Email: peirce@pfi.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
www.propertyforindustry.co.nz