Argosy gets book value for sale of Wakefield St site in Wellington

Thu, 31 May 2012

June 01 (BusinessDesk) - Argosy Property, whose shareholders agreed to corporatise the company after buying out the ANZ Bank-owned manager last year, has announced its second sale in as many days, the property at 221 Wakefield Street in Wellington. The sale price of $4.5 million amounts to current book value, the Auckland-based property investor said in a statement today. The property has been sold to an owner-occupier who plans to develop the site for their own use. Last week, Argosy said it wanted to sell underperforming assets and vacant...

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