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.
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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
