NZ Post pays $12 mln to amend lease agreement with Argosy

Fri, 08 Apr 2016

By Edwin Mitson April 8 (BusinessDesk) - New Zealand Post will pay $12 million to Argosy Property after the state-owned mail delivery service's shrinking business meant it didn't need the top three floors of Wellington's New Zealand Post House. The Wellington-based state-owned enterprise has signed a 10-year lease over all but the top three floors of the building, replacing what would have been a five-year tenancy agreement for the entire property, Argosy said in a statement. NZ Post's payment is made up of a $6 million charge for the te...

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