PFI - Acquisition - 316 Neilson Street, Penrose, Auckland

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

• Acquisition - 316 Neilson Street, Penrose, Auckland

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.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

Synlait forecasts strong milk price for 2025/26
SkyCity to file NZICC Legal Proceedings against Fletchers
June 6th Morning Report
Metro's view of Viridian's Com Com application
Infratil Infrastructure Bond Exchange Offer opens
June 5th Morning Report
PORT OF KARUMBA - A POTENTENTIAL PHOSPHATE EXPORT PORT
NZME - Appointment of new Chair
Infratil Limited Annual Meeting and Director Nominations
Rua and Cann reach positive resolution in legal proceedings