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- Release Date: 27/05/13 15:31
- Summary: ASSET: ARG: Argosy acquires The Vector Centre Carlton Gore Rd property
- Price Sensitive: No
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ARG
27/05/2013 13:31
ASSET
REL: 1331 HRS Argosy Property Limited
ASSET: ARG: Argosy acquires The Vector Centre Carlton Gore Rd property
Argosy Property Limited is pleased to confirm the unconditional acquisition
of 101 Carlton Gore Rd, Newmarket. The property is complementary to Argosy's
existing assets at 105 and 107 Carlton Gore Rd. The three properties
represent very high quality, well located assets.
The property was acquired for $22.25 million on an initial passing yield of
8.0% and will settle in September 2013. The Vector Centre provides five
levels of quality office accommodation, each of approximately 1,000 sqm,
together with basement carparking.
The Vector Centre is fully leased to Vector Limited on a 9 year lease, with 7
years remaining. However the tenant has the right to terminate the lease
(with break fee) in either year 4 or year 6.
The off-market acquisition is consistent with Argosy's portfolio investment
strategy and is designated as a Core property.
End CA:00236676 For:ARG Type:ASSET Time:2013-05-27 13:31:10
