Ann: ASSET: AUG: Augusta purchases Auckland CBD property

• Release Date: 13/10/15 08:30
• Summary: ASSET: AUG: Augusta purchases Auckland CBD property
• Price Sensitive: No
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					AUG
13/10/2015 08:30
ASSET
PRICE SENSITIVE
REL: 0830 HRS Augusta Capital Limited

ASSET: AUG: Augusta purchases Auckland CBD property

Augusta Capital Ltd is pleased to announce that its wholly owned subsidiary
Augusta Funds Management Ltd has entered into an unconditional agreement to
purchase a commercial property located at 36 Kitchener Street, Auckland CBD.
The property is leased to a variety of tenants with a remaining weighted
average lease term of 1.8 years from the settlement date which is scheduled
for 30 October 2015. Initially Augusta will settle the property directly and
hold while it considers its options in respect to the type of offer that will
be made available to investors.
The purchase price is $16.5 million reflecting a yield of 7.06%.

-ENDS-

For further information please contact:

Mark Francis
Managing Director
End CA:00271606 For:AUG    Type:ASSET      Time:2015-10-13 08:30:27