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- Release Date: 27/09/12 16:14
- Summary: GENERAL: ARG: Argosy announces new 12-year lease at Old City Markets
- Price Sensitive: No
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ARG
27/09/2012 14:14
GENERAL
REL: 1414 HRS Argosy Property Limited
GENERAL: ARG: Argosy announces new 12-year lease at Old City Markets
Argosy Property Limited is pleased to confirm a new 12 year lease to the
international firm Dimension Data over 3,200sqm of space in the Old City
Markets, the majority of which is currently vacant.
The lease negotiations were lengthy and complex involving relocation for the
tenant from three separate locations to single premises in the Viaduct
Harbour. The new lease reduces the vacancy in the Argosy portfolio further to
3.55% and the weighted average lease term is extended to 5.2 years.
Elsewhere in the portfolio, renewals of leases have reduced pending expiries
for the year to 31 March 2013 to 7.4%.
- ENDS -
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]
Argosy Property Limited
Argosy Property Limited is the most diversified property fund listed on the
New Zealand Stock Exchange. It has a $895 million portfolio of 63 properties
across the retail, commercial and industrial sectors. The Company has a low
risk focus on quality properties where value can be added and properties
modernised to extend their effective utilisation.
End CA:00227818 For:ARG Type:GENERAL Time:2012-09-27 14:14:27
