Acquisition of Avondale Industrial Property

ACQUISITION OF AVONDALE INDUSTRIAL PROPERTY Property for Industry Limited (PFI, the Company) is pleased to announce the settlement of the acquisition of an industrial property located at 520 Rosebank Road in Avondale, Auckland for $5.2 million. The ~3,100 sqm site is surrounded by an existing PFI estate, 528-558 Rosebank Road*. The improvements include ~1,100 sqm of warehousing, office and amenities leased for six years on a passing rent of $182,000 per annum. PFI Chief Executive Officer, Simon Woodhams, notes: "Like the recent acquisition of 32 Honan Place, the acquisition of this core generic Auckland industrial property at 520 Rosebank Road continues to build our presence in the Rosebank Road area, providing potential for integration with PFI's neighbouring properties in the future." ENDS ABOUT PFI & CONTACT PFI is an NZX listed property vehicle specialising in industrial property. PFI's nationwide portfolio of almost 100 properties is leased to around 135 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 *528-558 Rosebank Road comprises nine buildings with a lettable area of ~27,000 sqm on a five-hectare site valued at 30 June 2021 at ~$66 million. End CA:00383964 For:PFI Type:TRANSACT Time:2021-12-01 16:57:13