Carlaw Park Divestment

CARLAW PARK DIVESTMENT Property for Industry Limited (PFI, the Company) is pleased to announce the divestment of the Company's mixed-use Carlaw Park property in Parnell, Auckland, to a private investor. Colliers International marketed the property, which has been sold for a gross sales price of $110.0 million. The property was last valued in December 2020 at $102.4 million. The divestment follows the completion of several asset management initiatives at the property and is one of the key planned divestments of PFI's non-industrial properties. Settlement of the divestment is scheduled to take place in the fourth quarter of 2021. Further details will be provided when the Company announces its annual results on Monday, 22 February 2021. ENDS ABOUT PFI & CONTACT PFI is an NZX listed property vehicle specialising in industrial property. PFI's nationwide portfolio of 95 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 End CA:00367361 For:PFI Type:TRANSACT Time:2021-02-10 15:56:07