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- Release Date: 28/05/12 18:56
- Summary: GENERAL: ARG: Argosy Reports Positive Revaluations
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ARG
28/05/2012 16:56
GENERAL
REL: 1656 HRS Argosy Property Limited
GENERAL: ARG: Argosy Reports Positive Revaluations
Argosy Property Limited (Argosy) is pleased to announce the results of the
revaluation of the property portfolio as at 31 March 2012. The revaluation
was conducted by a panel of valuation practices and has resulted in a
marginal increase in the value of property held of $3.7 million or 0.4%.
Mike Smith, the Chairman of the Argosy Board of Directors, said "It is
pleasing to again report valuations that show a stable property market. A
market that we believe presents a solid platform for the future".
"The results from the portfolio valuations are generally in line with our
expectations. We had expected the overall result to be largely flat, with the
impact of a slightly firmer market offset by increased provisions for lease
expiries and vacancy provisions "said the CEO of Argosy, Peter Mence.
Leasing activity in the portfolio since the interim results had a positive
influence on the valuation results.
The total value change by sector is as follows:
Industrial 0.22%
Commercial 0.53%
Retail 0.49%
With respect to both the Wellington location and the retail sector, these
figures have been positively influenced by specific added value initiatives
during the year.
Valuations by Property are included in the Appendix.
End CA:00223338 For:ARG Type:GENERAL Time:2012-05-28 16:56:41
