- Release Date: 28/04/15 10:06
- Summary: GENERAL: ARG: Argosy Portfolio Valuation Update & Disposal Announcement
- Price Sensitive: No
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ARG 28/04/2015 10:06 GENERAL PRICE SENSITIVE REL: 1006 HRS Argosy Property Limited GENERAL: ARG: Argosy Portfolio Valuation Update & Disposal Announcement Argosy Property Limited (Argosy) today announced an increase in the value of its property portfolio of $13.7 million (+1.0%) following completion of valuations for each property. This, combined with the interim valuation that took place at 30 September 2014, takes the full year valuation for 2015 to $38.6 million (+3.0%). The revaluation gain increases the value of the portfolio to $1.306 billion. The increased property values reflect improved rental growth expectations and the continued firming of cap rates across the portfolio. The valuations have been conducted by independent Valuers and are still subject to formal confirmation from the external auditors as part of the 31 March 2015 full-year audit. Argosy has also announced the disposal of the industrial property at 1 Allens Road, East Tamaki, Auckland for $3.3 million, which represents a 10.7% premium to its book value as at 30 September 2014. The property was not part of Argosy's Core portfolio and the funds have been used to repay bank debt. - 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:00263591 For:ARG Type:GENERAL Time:2015-04-28 10:06:27
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- Ann: GENERAL: ARG: Argosy Portfolio Valuation Update & Disposal Announcement
Ann: GENERAL: ARG: Argosy Portfolio Valuation Update & Disposal Announcement
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