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- Release Date: 31/05/12 11:17
- Summary: GENERAL: ARG: Argosy Announces Sale of Vacant Property
- Price Sensitive: No
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ARG
31/05/2012 09:17
GENERAL
REL: 0917 HRS Argosy Property Limited
GENERAL: ARG: Argosy Announces Sale of Vacant Property
Argosy Property Limited (Argosy) is pleased to confirm the sale of 221 Bush
Rd, Albany. The property is currently vacant following the relocation of Dick
Smith Electronics last year to an Argosy property at Mayo Rd in Manukau.
The current North Shore industrial market generally demands a much lower
office to warehouse ratio than the Bush Rd property, and this combined with
the current maximisation of buildings on the site constrains the future
potential of the property for Argosy.
The sale price represents 93% of the $6.9m current book value and settles on
June 8th 2012.
The sale was negotiated by Omega Commercial and is to a locally based
owner-occupier.
- ENDS -
Press enquiries
Peter Mence
Chief Executive Officer
Argosy Property Limited
Telephone: 09 304 3411
Email: [email protected]
Dave Fraser
Chief Financial Officer
Argosy Property Limited
Telephone: 09 304 3469
Email: [email protected]
Argosy Property Limited
Argosy Property Limited is the most diversified property fund listed on the
New Zealand Stock Exchange. It has a $905 million portfolio of 65 properties,
with 232 tenants across the retail, commercial and industrial sectors. Argosy
Property Limited has a low risk focus on quality properties where value can
be added and properties modernised to extend their effective utilisation.
End CA:00223461 For:ARG Type:GENERAL Time:2012-05-31 09:17:09
