Unconditional sale of Albany Lifestyle Centre
24 May 2019
MARKET RELEASE
Unconditional sale of Albany Lifestyle Centre
Argosy Property Limited (Argosy) today announced the sale of Albany Lifestyle Centre, Albany
in Auckland. The property was classified as non Core and has been sold for $89.0 million, a 2%
premium to its current book value.
Settlement is expected to occur on or around 27 March 2020.
Argosy Chief Executive Officer Peter Mence said “The sale allows Argosy to take advantage of
attractive market conditions at present. The sale proceeds will initially be applied to reducing
bank debt and applied to its Value Add development pipeline including green developments.”
– END –
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
Data sourced from publicly available filings. Our datasets may not be complete. Automated analysis can produce errors. If you believe any data on this page is incorrect, please contact us at hello@nzxplorer.co.nz. For informational purposes only. Not investment advice.
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