Argosy sells Auckland industrial property for $38m

CEO Peter Mence said the property was not essential to the company. (Image: Argosy)

Fri, 17 Nov 2023

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New Zealand stock exchange-listed landlord Argosy Property has sold an East Tamaki industrial property for $38 million.In an announcement to the exchange (NZX) on Friday, it said the sale of 10 Transport Pl was 7.3% above the book value of the property for the year to March 2023.Settlement is expected on Jan 31, 2024.The company said it had another property subject to a conditional agreement, also above the March book value.Argosy chief executive officer Peter Mence said the property wasn’t essential for its business and it would use the...

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