- Release Date: 30/06/15 16:18
- Summary: ASSET: ARG: Argosy Announces Disposal of Property and Vacant Land
- Price Sensitive: No
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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
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