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Argosy Property : sells 626 Great South Road, Greenlane.

09/11/2018 | 06:37pm

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

Disclaimer

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

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