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- Release Date: 27/11/12 17:30
- Summary: ASSET: ARG: Argosy announces sales of vacant land and two buildings
- Price Sensitive: No
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ARG
27/11/2012 15:30
ASSET
REL: 1530 HRS Argosy Property Limited
ASSET: ARG: Argosy announces sales of vacant land and two buildings
Argosy Property Limited is pleased to confirm the unconditional sale of
vacant land in Palmerston North and in Albany. Leased properties in
Palmerston North that are currently occupied by Budget Plastics and Vestas
have also been sold, reducing exposure to that location.
Consistent with Argosy's previously advised strategy to sell vacant land,
unconditional sales have now been achieved for the E3 block to the west of
the Oteha Valley Rd Albany site and three of the vacant land sites in the
Manawatu Business Park in Palmerston North.
Titles have now been issued for the Manawatu Business Park subdivision
enabling settlement of documented sales and generating improved interest in
the land that remains available.
The unconditional sales total $19.2m ($15.5m for land and $3.7m for the two
buildings) reflecting 98% of the current book value.
End CA:00230284 For:ARG Type:ASSET Time:2012-11-27 15:30:12
