Property For Ind

What Property For Ind does

Property for Industry Limited (NZX: PFI.NZ) is a New Zealand-domiciled industrial property investment company founded in 1993 and headquartered in Auckland. It owns, develops, leases and manages a $2.25bn portfolio of industrial real estate concentrated in strategic Auckland precincts including East Tāmaki, Mount Wellington, Wiri, Whenuapai and Avondale. Its customer base spans logistics and distribution, manufacturing, food and beverage (including cold chain), eCommerce fulfilment, horticulture and primary industries — with named enterprise tenants such as Fisher & Paykel Appliances, Daikin New Zealand, Tokyo Food, Mitek, Store Rite Logistics, Boxkraft and ADM New Zealand. The company differentiates through exclusive specialisation in industrial property, 5 Star Green Star certified developments (Bowden Road, Springs Road), and an in-house facilities management capability.

PFI's core product is its diversified portfolio of warehouses, distribution centres, manufacturing facilities and cold storage assets available for lease, alongside a multi-stage development pipeline including Springs Road Estate (East Tāmaki), Totara Creek Estate (Whenuapai) and 92-98 Harris Road. Revenue is generated through commercial property leasing on long-tenor contracts (commonly 12–15 years), with H1 FY26 occupancy of 99.9% and rent reviews delivering a 7.3% average annualised uplift on $46.2m of reviewed contracts. The go-to-market is direct enterprise leasing via a specialist leasing team, supported by an active LinkedIn presence (>2,300 industry connections) and the corporate website. The business model is structurally that of an industrial REIT: recurring rental income, distribution of 90–100% of AFFO as dividends (FY26 guidance at least 9.05 cps), and capital structure comprising listed equity plus retail bonds PFI030 ($150m, 5.43%, 2030) and PFI040 ($200m, 5.35%, 2032), with 34.2% gearing as at December 2025. Strategic capability is reflected in an average annual return of ~9.27% since inception, FFO growth of +32.2% and AFFO growth of +23.9% in H1 FY26, and development optionality of up to ~$325m in Green Star certified projects.

Name

Property For Ind

Legal name

Property For Industry Limited

Website

https://propertyforindustry.co.nz

Company type

Public

Founded year

1993

Operating status

Operating

Headcount range

11–50 employees

Short description

Property for Industry Limited (NZX: PFI.NZ) is an Auckland-based industrial property REIT owning a $2.25bn portfolio of warehouses, manufacturing facilities and logistics assets leased to enterprise tenants across food & beverage, logistics, eCommerce and primary industries in New Zealand.

Ownership category

akta.pro rank

Headquarters

HQ city

Auckland

HQ country

New Zealand

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Others

Revenue model

1. Commercial Property Leasing: PFI generates revenue primarily through commercial leasing of industrial properties to tenants. Rental income comes from long-term leases with industrial businesses across sectors including logistics, manufacturing, food & beverage, and eCommerce.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Property for Industry owns, develops, and leases a diversified portfolio of quality industrial properties across Auckland, New Zealand, including warehouses, manufacturing facilities, distribution centres, and eCommerce fulfilment spaces. Properties are leased to industrial tenants under long-term agreements (typically 12–15 years) and developed to 5 Star Green Star sustainability standards. The company also provides in-house facilities management services for its tenants.

Product overview

Property for Industry (PFI) is a New Zealand-listed industrial property company operating a diversified portfolio of quality industrial properties. The company offers three core product lines: (1) a portfolio of industrial properties for lease including warehouses, distribution centers, and manufacturing facilities; (2) development services creating new Green Star-certified industrial estates such as Springs Road Estate and Totara Creek Estate; and (3) in-house facilities management. PFI also provides investor services including shares and retail bonds (PFI030 and PFI040) traded on NZX. The portfolio spans key Auckland industrial locations including East Tāmaki, Mount Wellington, Avondale, Wiri, and Whenuapai, serving tenants across manufacturing, logistics, food & beverage, and eCommerce sectors.

Differentiator

Problem solved

Functional benefit

Products and services

• Springs Road Estate A 10.4-hectare high-profile industrial development at 78 Springs Road, East Tāmaki, featuring heavy industry zoning and flexible warehouse configurations. Developed in three stages: Stage One (25,500 sqm warehouse for Fisher & Paykel Appliances, completed), Stage Two (SR3 at 6,500 sqm for Mitek and SR4 at 4,800 sqm for lease), and Stage Three (SR2 at 11,650 sqm and SR5-7 at 900–1,300 sqm options).
• Totara Creek Estate A 6-hectare greenfield industrial development in Auckland's North West at Spedding Road, Whenuapai, targeting 5 Star Green Star rating. Development spans three stages: Stage One TC1 (1,800–8,400 sqm, completion Q2 2027), Stage Two (TC2a at 5,000 sqm and TC2b at 4,200 sqm), and Stage Three (TC3 at 12,800 sqm).
• 92-98 Harris Road Development An upcoming industrial development in East Tāmaki featuring minimum 12.5m stud height, dedicated one-way drive-through access, and targeted 5 Green Star rating. Demolition completed with redevelopment to be tenant-led.
• Bowden Road Development A completed 5 Green Star sustainable warehouse and office development at 30-32 Bowden Road, Mount Wellington. Features two buildings with combined solar power generation and rainwater harvesting, housing tenants Tokyo Food and Daikin New Zealand.
• 47A Dalgety Drive Redevelopment A completed redevelopment in Wiri featuring a modern 3,100 sqm warehouse, 300 sqm office, 240 sqm canopy, and 37 carparks on approximately 2.2 hectares.
• Properties for Lease Portfolio Industrial properties available for lease including warehouses, distribution centres, manufacturing facilities, and eCommerce fulfilment spaces. Current available properties include 61-69 Patiki Road, 7-9 Niall Burgess Road (14,894.5 sqm warehouse), 670 Rosebank Road (~6,515 sqm warehouse), 515 Mount Wellington Highway, 41C William Pickering Drive, and 1 Ron Driver Place.
• Facilities Management In-house facilities management team providing comprehensive property support including planning, development, day-to-day management, safety and compliance, and tenant relationship management. Service desk contact: 0508 734 734.
• Retail Bonds NZX-listed retail bonds: PFI030 ($150 million, 5.43% interest rate, maturing September 2030) and PFI040 ($200 million, 5.35% interest rate, maturing October 2032), traded on the NZX Debt Market.

Quantifiable outcome

• 99.9% occupancy rate demonstrates strong tenant demand and retention
• +3 more outcomes

Named customers7 records

Segments6 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered minor and core.

• Haydn & RollettminorImplementation/ SI/ Consulting PartnerConstruction contractor for Bowden Road development project. Haydn & Rollett delivered the two-stage sustainable industrial development on time and on budget.
• Woodhams Meikle Zhan LtdminorImplementation/ SI/ Consulting PartnerArchitecture firm for Bowden Road development. Responsible for the design of the sustainable warehouse and office development.
• SEEC (Peter Bryant)minorImplementation/ SI/ Consulting PartnerProject Green Star Accredited Professional (GSAP) for Bowden Road development, ensuring sustainability certification requirements were met.
• New Zealand Green Building Council (NZGBC)coreStrategic or Co-development PartnerNZGBC administers the Green Star rating system. PFI has achieved 5 Star Green Star ratings for buildings at 30-32 Bowden Road and 78 Springs Road through NZGBC certification.
• Keystone New Zealand Property Education TrustminorOthersPFI is a sponsor of Keystone NZ Property Education Trust, supporting property industry education and development.

Scale indicators17 records

Recent moves6 records

Expansion highlights5 records

Market position

Strengths4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/property-for-industry-limited

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Property For Ind