ARG
01/08/2014 09:20
ASSET
REL: 0920 HRS Argosy Property Limited
ASSET: ARG: Argosy Property Sells Waitakere Mega Centre
Argosy Property Limited today announced the unconditional sale of the
Waitakere Mega Centre at the current book value of $45.75m to a Christchurch
based investor.
The sale, which settles in March 2015, will reduce the company's retail
property weightings to within the targeted 15 to 25% band.
As part of the Argosy's asset allocation strategy announced in 2013, the
targeted asset allocation to retail property was reduced and the Waitakere
property was designated as non-Core as part of the individual property
strategy reviews this year.
Argosy will continue to manage the property in consultation with the
Purchaser in the period up to settlement.
- 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:00253376 For:ARG Type:ASSET Time:2014-08-01 09:20:31
