KEY POINTS:
Industrial property investor Property for Industry, managed by AMP Capital Investors, says it expects a $33 million gain from its annual portfolio revaluation.
By the end of the financial year on December 31, PFI's 57 properties will have a book value of about $386 million, up 9.5 per cent on the previous year, PFI general manager Ross Blackmore said.
The revaluation will be audited and confirmed by the end of the month.
PFI's portfolio was an estimated 5 per cent under-rented, below market prices, Blackmore said. Shares in PFI closed down 1c yesterday at $1.47.
- NZPA
