Argosy enters unconditional sale of Auckland property for $31 million

Mon, 26 Mar 2018

By Rebecca Howard March 26 (BusinessDesk) - Argosy Property has entered into an unconditional sale of property in Auckland for $31 million, a price that presents a 13 percent premium over its latest book value, the company said in a release to the stock exchange. According to Argosy, the Feb 28 book value of 7 and 7A Wagener Place, St Lukes, was $27.4 million. The settlement is expected to occur in July 2018. “The market for commercial real estate remains attractive for long-term investors divesting real estate," said chief executive...

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