Argosy has full ownership of Manawatu venture

Argosy Property Management, the manager of Argosy Property Trust formerly known as ING Property Trust, has terminated a joint venture project at Manawatu Business Park in Palmerston North.

Argosy acquired the full ownership of North East Industrial on November 30. The joint venture was terminated by exchanging debts and obligations of the joint venture partner for their shares in the company.

It said a building in the park has been sold at $1.3 million, taking confirmed sales pending settlement at the park to $27.7 million. This sale, together with recent leasing activity, means that all the buildings at the park will be fully leased.

Separately, a vacant industrial property in Zelanian Drive, East Tamaki has been sold for $3.3m, which is less than the valuation of $3.65m at March 31.

NZPA

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:

Devon Funds Morning Note - 14 May 2025
Winton Media Release - Ayrburn Film Hub
CEN - CONTACT ENERGY APPOINTS NEW CHIEF FINANCIAL OFFICER
VCT - Vector announces strategic review for its fibre business
May 14th Morning Report
Rua approves debt facility to accelerate sales.
PCT - Precinct FY25 Third Quarter Dividends
MEL - Ampol exits retail electricity, Meridian takes on customers
Deposit scheme reduces risk, boosts trust - General Finance
May 12th Morning Report