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Property for Industry Limited (NZX: PFI) Strategic Avondale Acquisition, Tidal Road Update Wednesday 23rd December 2020
Property for Industry Limited is pleased to announce the acquisition of the industrial properties located at 670-680 Rosebank Road in Avondale, Auckland and wishes to provide an update on the industrial properties to be acquired at Tidal Road in Mangere, Auckland.
Strategic Avondale Acquisition
PFI has agreed to acquire the industrial properties located at 670-680 Rosebank Road in Avondale, Auckland. Located on a 2.8ha site, there are four buildings leased to two tenants: NZ Comfort Group Limited and Dunlop Flooring Limited.
PFI already owns neighbouring industrial properties on Rosebank and Patiki Roads. When combined with these sites, an industrial estate of 8.6ha valued in excess of $110 million will be created, just 250 meters from the North Western motorway system. This is a strategic acquisition that presents PFI with a longer-term o