Market Update
.1
17.11.2023
Market Release
Unconditional sale of 10 Transport Place
Argosy Property Limited (Argosy or the Company) has announced today it has
unconditionally sold its industrial property at 10 Transport Place, East Tamaki,
Auckland.
The sale price is $38.0 million, 7.3% above its full year 31 March 2023 book value.
The initial yield on sale is 5.70%.
Settlement is expected to occur on 31 January 2024.
Argosy also has another property subject to a conditional agreement at above
March 2023 book value.
Chief Executive Officer Peter Mence said “This property had been identified as non
Core. We are pleased with the outcome achieved and will initially utilise the funds
towards reducing our debt. With values softening over the last year, it is positive to
see transactions that substantiate asset values.”
-END-
Peter Mence
Chief Executive Officer
Argosy Property Limited
Telephone: 09 304 3400
Email: pmence@argosy.co.nz
Dave Fraser
Chief Financial Officer
Argosy Property Limited
Telephone: 09 304 3400
Email: dfraser@argosy.co.nz
Stephen Freundlich
Head of Corporate Communications &
Investor Relations
Argosy Property Limited
Telephone: 09 304 3400
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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