Argosy sells vacant Albany site at small discount to valuation

Wed, 30 May 2012

By Paul McBeth May 31 (BusinessDesk) - Argosy Property, whose shareholders agreed to corporatise the company after buying out the ANZ Bank-owned manager last year, has sold an empty building in Auckland's Albany suburb for a small discount. The Auckland-based property investor sold a vacant lot on the North Shore after tenant Dick Smith Electronics re-located to Manukau last year, it said in a statement. The price represents 93 percent of the $6.9 million book value, indicating it sold at $6.4 million. The sale will settle on June 8. "The...

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