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Announcement

ASSET: PFI: Sale of 27 Zelanian Drive

13 Dec 2016 12:08NZX
SALE OF 27 ZELANIAN DRIVE

NZX listed industrial property landlord Property for Industry Limited (PFI)
today announced that it has sold a property at 27 Zelanian Drive, East
Tamaki, for a gross sales price of $8.475 million.

The vacant property has been purchased by an owner-occupier, with the
transaction due to settle on 1 February 2017. The sales price represents a
yield on market of 6.95% and is above the current book value.

PFI General Manager Simon Woodhams noted: "PFI has sold around $45 million of
property over the last three years, taking advantage high levels of demand
from both investors and owner-occupiers. The funds from the sale of PFI''s
property at 27 Zelanian Drive will be recycled into new capital projects."

Contact

For further information please contact:

Simon Woodhams
General Manager
Phone: +64 9 303 9652
Email: woodhams@propertyforindustry.co.nz

Craig Peirce
Chief Financial Officer and Company Secretary
Phone: +64 9 303 9651
Email: peirce@propertyforindustry.co.nz

About PFI
PFI is New Zealand''s only listed company specialising in industrial property.
PFI''s portfolio of 83 industrial properties in Auckland, Hamilton, Mount
Maunganui, Wellington and Christchurch, is leased to 143 tenants.

www.propertyforindustry.co.nz
End CA:00294214 For:PFI    Type:ASSET      Time:2016-12-13 12:08:54
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