Sharechat Logo

PFI - Acquisition - 316 Neilson Street, Penrose, Auckland

Friday 14th February 2025

Text too small?

Property For Industry Limited (the Company, PFI) is pleased to announce an unconditional agreement to acquire a ~5,600 sqm site at 316 Neilson Street, Penrose, Auckland (the Property) for $8.5 million.

 

The Property is adjacent to existing PFI properties located at 304, 306, 312, 314 and 318 Neilson Street, which have a combined value of $80.8 million.(1)

 

When combined with the Company’s existing holdings, post settlement, PFI will have a ~5.7-hectare estate zoned Heavy Industrial in one of Auckland’s key industrial precincts.

 

316 Neilson Street has been acquired on a sale-and-leaseback basis with a lease term of three-years at a purchase yield of 3.58%. In the longer term, the acquisition of the Property will facilitate future redevelopment of the Company’s Neilson Street properties.

 

Settlement of the acquisition is expected to take place in late-February 2025.

 

ENDS

 

 



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

July 1st Morning Report
June 27th Morning Report
SDL - FY2026 Earnings Guidance
PaySauce Director resigns for US-based role with NZTE
General Capital Releases 2025 Annual Report
June 26th Morning Report
Devon Funds Morning Note - 25 June 2025
June 25th Morning Report
NWF - NZ Windfarms shareholders approve Meridian acquisition
GMT - GMT and GMT Bond Issuer Limited 2025 Annual Report