F&P sells East Tamaki site

Fisher & Paykel Appliances has an unconditional agreement to sell and lease back its 14.4ha East Tamaki site and is continuing to market its Cleveland, Brisbane, site.

The site in East Tamaki in Auckland is the company's largest property sale.

The company did not disclose the sale price but market speculation has been around $70 million.

The agreement is conditional on due diligence and finance.

The buyer is Direct Property Fund.