ARG
30/06/2015 16:18
ASSET
NOT PRICE SENSITIVE
REL: 1618 HRS Argosy Property Limited
ASSET: ARG: Argosy Announces Disposal of Property and Vacant Land
Argosy has today announced the disposal of the non-Core property at 7 El
Prado Drive, Palmerston North for $1.8 million. The sale is at current book
value after allowing for an area of additional land sold with the asset, but
as a result of a tenant failure during due diligence, includes a $40,000
partial rental underwrite per annum for two years.
Settlement is expected to occur 60 days after the issue of the amended
certificate of title.
Also, as previously announced in May 2015, Argosy has disposed of a further
5,000 square metres of vacant land at the Manawatu Business Park for
$552,530, above its 31 March 2015 book value. Settlement is expected to
occur 10 days after the issue of the amended certificate of title
Both sales are in line with Argosy's strategy and further realigns the
portfolio with the strategic bands in our investment policy.
- END -
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:00266411 For:ARG Type:ASSET Time:2015-06-30 16:18:22
