Unconditional sale of 180-202 Hutt Road, Wellington
1 ⸺
Argosy has announced today that it has unconditionally sold its property at 180-202 Hutt
Road, Kaiwharawhara in Wellington.
The sale price is $23.5 million or 11% above book value. The sale proceeds will be used
to reduce bank debt.
The purchaser is a private domestic investor.
Chief Executive Officer, Peter Mence said ‘We are pleased to have divested this non
Core asset and deliver on Argosy’s capital management plan. Selling above book
value is a real positive and we believe illustrates property market fundamentals remain
supportive for vendors.”
Settlement is scheduled to occur in July.
− END −
Market Release
18 June 2020
Unconditional sale of 180-202 Hutt Road, Wellington
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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