Argosy sells 626 Great South Road, Greenlane.

MARKET RELEASE

Argosy Property Limited (‘Argosy’) today announced it had unconditionally sold 626 Great South Road,
Greenlane.
The property has been sold at a price of $10.6m, 8.2% over the current book value of $9.8m.

The agreement is unconditional with settlement scheduled for Friday, 30 November 2018.

Argosy Chief Executive Officer Peter Mence said “The property was held within our non-Core pool of
assets and we have taken the opportunity to continue divesting assets in an attractive vendors market.
The settlement proceeds will initially be applied to reducing bank debt. While we still see the property
market as being very firm, we continue to consider acquisitions and divestments where they fit within our
long-term strategy.”


– ENDS –













Enquiries
Peter Mence
Chief Executive Officer
Argosy Property Limited
Telephone: 09 304 3411
Email: pmence@argosy.co.nz

Dave Fraser
Chief Financial Officer
Argosy Property Limited
Telephone: 09 304 3469
Email: dfraser@argosy.co.nz

Stephen Freundlich
Head of Investor Relations
Argosy Property Limited

Telephone: 09 304 3426
Email: sfreundlich@argosy.co.nz

12 September 2018

Argosy sells 626 Great South Road, Greenlane.