Argosy Property : sells 626 Great South Road, Greenlane.
September 11, 2018 at 06:37 pm EDT
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12 September 2018
MARKET RELEASE
Argosy sells 626 Great South Road, Greenlane.
Argosy Property Limited ('Argosy') today announced it had unconditionally sold 626 Great South Road, Greenlane.
The property has been sold at a price of $10.6m, 8.2% over the current book value of $9.8m.
The agreement is unconditional with settlement scheduled for Friday, 30 November 2018.
Argosy Chief Executive Officer Peter Mence said "The property was held within our non-Core pool of assets and we have taken the opportunity to continue divesting assets in an attractive vendors market. The settlement proceeds will initially be applied to reducing bank debt. While we still see the property market as being very firm, we continue to consider acquisitions and divestments where they fit within our long-term strategy."
- ENDS -
Enquiries
Peter Mence
Dave Fraser
Stephen Freundlich
Chief Executive Officer
Chief Financial Officer
Head of Investor Relations
Argosy Property Limited
Argosy Property Limited
Argosy Property Limited
Telephone: 09 304 3411
Telephone: 09 304 3469
Telephone: 09 304 3426
Email:pmence@argosy.co.nz
Email:dfraser@argosy.co.nz
Email:sfreundlich@argosy.co.nz
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Argosy Property Limited published this content on 12 September 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 11 September 2018 22:36:01 UTC
Argosy Property Limited is a New Zealand-based property company. The Companyâs principal activity is investment in properties which include industrial, office and large-format retail properties, predominantly in Auckland and Wellington. Its office properties include 99-107 Khyber Pass Road, Grafton; 101 Carlton Gore Road, Newmarket; 8 Nugent Street, Grafton; 8 Nugent Street, Grafton, and others. The retail properties include Albany Mega Centre & 11 Coliseum Drive, Albany; 50 & 54-62 Cavendish Drive, Manukau; 252 Dairy Flat Highway, Albany, and Cnr Taniwha & Paora Hapi Streets, Taupo. The industrial properties include 240 Puhinui Road, Manukau; 244 Puhinui Road, Manukau; Highgate Parkway, Silverdale; 10 Transport Place, East Tamaki, and others. The 244 Puhinui Road, Manukau property comprises a new, large industrial building on a 7,187sqm site. The 252 Dairy Flat Highway, Albany property comprises four buildings, three of which are workshops used for servicing and parts storage.
ARGOSY PROPERTY LIMITED 
