Sharechat Logo

Argosy: unconditional sale of 80 Springs Rd, Auckland

Wednesday 1st July 2020

Text too small?

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. 

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

NZX Limited (NZX: NZX) Investor Day and Earnings Guidance Update
Synlait Milk Limited (NZX: SML) Sustainability Report Shows GHG Emissions Improvements
IPO Offer: New Zealand Rural Land Co
Infratil Limited 6-year Infrastructure Bonds
Allied Farmers Limited (NZX: ALF) Launch of Renounceable Rights Issue
NZ Windfarms Limited (NZX: NWF) VVFPA Document Completion and FY2021 EBITDAF Guidance Range
Property for Industry Limited (NZX: PFI) Signals Positive Valuation Outcome
SkyCity Entertainment Group Limited (NZX: SKC) Update on SkyCity Adelaide, Including Opening of Expansion
Sky Network Television Limited (NZX: SKT) Announces Chief Executive Change
Evolve Education Group Limited (NZX: EVO) Share Consolidation

IRG See IRG research reports