PFI's Avondale purchase highlights hot industrial property market

PFI's Avondale purchase highlights hot industrial property market
Jenny Ruth
Property for Industry's purchase of industrial real estate in the Auckland suburb of Avondale highlights how expensive such properties are becoming.The company is paying $39 million for the properties, which adjoin properties PFI already owns, and the initial annual yield is just 4.4 percent.PFI acknowledged the price is steep with the estimated market yield 4.9 percent – the lower the yield, the higher the price paid.At the beginning of the month, PFI announced the preliminary advice from its independent valuers was that its existing...

More Property

Govt to ‘flood’ cities with more housing by liberalising planning rules
Property

Govt to ‘flood’ cities with more housing by liberalising planning rules

Housing Minister Chris Bishop will on Thursday unveil the Government’s plan to “flood the market’ with land for development in a bid to end New Zealand’s housing crisis.Bishop will use a speech to the Real Estate Institute of New Zealand today to announce a slew of changes to NZ’...

Staff reporters 04 Jul 2024
Anglicans get permission to demolish Parnell lodge
Property

Anglicans get permission to demolish Parnell lodge

The property is across the road from one of the most luxurious developments in NZ.

Oliver Lewis 04 Jul 2024
Property operator will negotiate with Italian restaurateur
Property

Property operator will negotiate with Italian restaurateur

Stride's CEO says the landlord won't be silly over a lease dispute with Portofino.

Maria Slade 03 Jul 2024
Death of Fiji plot accused leaves Karaka subdivision up in the air
Property

Death of Fiji plot accused leaves Karaka subdivision up in the air

Records for the project company are nowhere to be found after Ballu Khan's passing.

Maria Slade 03 Jul 2024