Argosy: unconditional sale of 80 Springs Rd, Auckland

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. 

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
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.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

September 19th Morning Report
Smartpay Scheme Booklet and Notice of Meeting
September 18th Morning Report
Seeka Increases Forecast Full Year Earnings Guidance
TEM - Ability to invest in derivatives
Devon Funds Morning Note - 16 September 2025
September 17th Morning Report
MPG - Recapitalisation Closes Oversubscribed, Raises $23.9m
IPL - Indicative Issue Margin Range for Notes Offer
TWG partners with Tata Consultancy Services