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- Release Date: 08/05/14 12:45
- Summary: ASSET: ARG: Argosy announces unconditional sale of 8 Pacific Rise
- Price Sensitive: No
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ARG
08/05/2014 10:45
ASSET
REL: 1045 HRS Argosy Property Limited
ASSET: ARG: Argosy announces unconditional sale of 8 Pacific Rise
Argosy Property Limited today announced the unconditional sale of the
non-Core property at 8 Pacific Rise, Mt Wellington, to an owner occupier.
The $10.4 million sale, which is to be settled in July 2014, is at a 2.7%
premium to the book value determined by the March 2014 valuation.
Returns from the property had suffered from long term vacancy issues and a
short weighted average lease term. The property was sold with a weighted
average lease term of 1.7 years at a passing yield of 7%.
- 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]
Scott Lunny
Investor Relations Manager
Argosy Property Limited
Telephone: 09 304 3426
Email: [email protected]
End CA:00250227 For:ARG Type:ASSET Time:2014-05-08 10:45:20
