PFI buys T&G property in Hastings for $79.5m

Mon, 01 Nov 2021

Property for Industry said it is buying a property in Hastings from T&G Global for $79.5 million and T&G will lease it back.The 9.56 hectare site at 22 Whakatu Rd accommodates T&G's post-harvest operations in Hawke's Bay including one of its packhouses, two cool stores, warehousing and 3.7ha of storage yard.The unconditional acquisition reflects a yield of 4.4% and is expected to settle on Nov 15.T&G chief executive Gareth Edgecombe said the transaction will help T&G free up capital to fuel its growth."By enteri...

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