Property for Industry has sold its Bowden Rd, Mt Wellington, property in Auckland for $10.03 million.
PFI bought it in 1996 for $7.96 million and has just completed a $1.93 million expansion for the tenant, Fletcher Aluminium.
The buyer is a private investor and the lease to Fletcher Aluminium expires in March 2011. The sale is unconditional and the settlement date is March 5.
Sale proceeds will go into new PFI investments.
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