Unconditional sale of 80 Springs Rd, Auckland

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Argosy Property Limited (Argosy or the Company) has announced today it has
unconditionally sold its industrial property at 80 Springs Road, Auckland.
The sale price is $16.5 million or 2.3% above book value. The purchaser is an owner
occupier.
Chief Executive Officer, Peter Mence said ‘We are pleased to announce the
divestment of a second non Core asset in short succession in this case a vacant
property, and to have again sold above book value. We think this demonstrates that
the vendor market remains robust, underpinning the premium to book value we were
able to achieve. We remain focused on delivering further progress on Argosy’s capital
management plan.”
Settlement is expected 27 August.
− END −
Market Release
1 July 2020
Unconditional sale of 80 Springs Rd, Auckland
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