- Release Date: 21/10/15 12:12
- Summary: ASSET: ARG: Argosy Revaluation Update and Disposal Announcement
- Price Sensitive: No
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ARG 21/10/2015 12:12 ASSET NOT PRICE SENSITIVE REL: 1212 HRS Argosy Property Limited ASSET: ARG: Argosy Revaluation Update and Disposal Announcement Argosy Property Limited (Argosy) today announced an increase in the value of its property portfolio of $27.6 million (+2.1%) for the six months ending 30 September 2015, following a review conducted by Colliers International, acting as independent Valuer. The value of the portfolio is now $1.37 billion, excluding properties held for sale. The increase in the property values is primarily due to the firming of market capitalisation rates since the last full valuation at 31 March 2015. The independent desktop valuation was completed on all properties except New Zealand Post House, which is being carried at its current book value, and those held for sale. Argosy has also announced the disposal of a further 11,000 square metres of vacant land at the Manawatu Business Park for $1.375 million, equating to $125 per square metre which is above its most recent book value. - 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:00272108 For:ARG Type:ASSET Time:2015-10-21 12:12:41
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