Diversification
Overview
When you invest in property it’s easy to think about size, but what matters most is balance. At PFI we’ve built a portfolio designed, not just to grow over the long-term, but to put us in a strong position to keep delivering returns to investors through the inevitable market ups and downs. That means diversifying by tenant, by location, by property type and by potential. Diversification is an essential factor that has underpinned our track-record of consistently delivering strong growth and reliable income.
Focused yet diversified
PFI is focused exclusively on industrial property. That specialisation gives us clarity, but it doesn’t mean we put all our eggs in one basket. Across our 90+ properties, you’ll find a mix of warehouse, logistics, cold storage and manufacturing spaces, ranging from large distribution hubs to smaller industrial units. We work with more than 120 tenants across diverse sectors: freight, food production, healthcare, e-commerce, construction and more.
Each of these properties and tenants have a role to play in creating a portfolio that’s intended to be resilient and ready for what’s next.
ANCHORED IN HIGH-PERFORMING INDUSTRIAL LOCATIONS
Much of our portfolio is centred in Auckland, New Zealand’s industrial powerhouse. We’ve been investing here for decades, long enough to know the value of well-located land with great transport links and tenant demand. A great example is our Mt Wellington hub of properties. This is one of Auckland’s most tightly held industrial precincts, close to SH1, the Southern rail line, and a large residential and commercial catchment. It’s also just 15 minutes from the port and city centre.
These sites are not just about location, they’re part of a broader strategy to cluster assets in high-performing areas, where tenant demand has remained strong through multiple cycles.
OPPORTUNITIES ACROSS THE GOLDEN TRIANGLE
While the core of the portfolio is in Auckland, we have the flexibility to pursue opportunities beyond Tāmaki Makaurau. Around 90% of our portfolio is located in the Golden Triangle, the expanding industrial corridor connecting Auckland, Hamilton and Tauranga. This region generates more than half of New Zealand’s GDP and is home to the country’s two busiest ports and major logistics routes.
It’s the beating heart of New Zealand’s freight and supply chain networks and an ideal fit for our industrial focus. Recent acquisitions and developments in Hamilton and Auckland have seen us continue to build real scale in the Golden Triangle, unlocking opportunities for future growth.
A MIX OF CORE, GROWTH AND VALUE-ADD ASSETS
Core generic holdings
These are stable, low-risk assets in high-demand areas. They aim to generate consistent rental income, the backbone of investor returns. At some of these properties we’ve identified the opportunity to add value. That could mean energy-efficient upgrades, modernising the layout, or reconfiguring to get better site coverage and meet more tenant need. We’ve done this successfully across multiple sites, helping lift occupancy and improve returns.
Non-core holdings
These are properties that no longer strictly fit our long-term strategy, either due to location, scale or asset quality. While they may still generate income, we actively manage them with a view to divestment when market conditions are right. That way our capital stays focused on the highest-performing parts of the portfolio.
Development opportunities
From greenfield land to repurposed brownfield spaces, these are the properties where we’re building for tomorrow. Our development pipeline focuses on modern, sustainable industrial facilities in high-demand locations, like our recent development activity in Mt Wellington and East Tāmaki.
Specialist assets
These are highly customised industrial properties designed for specific uses, such as temperature controlled facilities or food production. They are typically leased on long term agreements and play an important role in diversifying income and strengthening tenant relationships.
Built for stability and growth
By spreading risk across locations, tenants, industries and asset strategies, we help smooth out the ups and downs. And because we specialise in industrial property, and know this market inside out, we’re able to make smarter calls about where to invest and when to act.
When we say we’re focused on strong, stable returns, says CEO Simon Woodhams. we actively manage the portfolio mix to ensure it has the potential to reliably deliver long-term value in a wide variety of market conditions.
Disclaimer:
This article was originally published in April 2026.
This article is intended to share insights and perspectives on the New Zealand and international property markets and should not be taken as legal, financial, or investment advice. While we’ve taken care to ensure the information is accurate, every situation is unique and we recommend seeking professional advice before making any investment decisions. PFI accepts no responsibility for any loss or liability arising from reliance on this content.
