Property For Industry Sells New Zealand Property for Over NZ$13 Million
MT Newswires Live10-30
Property For Industry (NZE:PFI) sold its property at 44 Mandeville Street, Riccarton, Christchurch in New Zealand for roughly NZ$13.3 million to a private investor, according to a Wednesday filing with the New Zealand bourse.
The asset consists of four separate warehouses and a standalone single-level office building, the filing stated. It was last valued in June at NZ$12.9 million.
Settlement is expected by the end of 2024.
Further, the company obtained subdivision consent for its proposed development on a 5.8-hectare land at Spedding Road in Auckland, the filing stated. It made an initial deposit of NZ$2 million, representing 5% of the total purchase price.
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