KEY POINTS:
Listed industrial property investor Property For Industry (PFI) has advised that it has an unconditional contract for the sale of its property at 9 Ride Way, Albany, leased to Amcor Packaging, for $17.0 million.
The sale will be the second of the year for PFI, following last month's $10.15 million divestment of 373a Neilson St, Penrose. Both divestments have been handled in off-market transactions.
PFI general manager Ross Blackmore said the market rental yield, after expenses, was somewhere in the range of 7.5 to 8 per cent.
PFI, a listed company specialising in industrial property, is managed by AMP Capital Investors.
- NZHERALD STAFF
