Argosy Agrees 9-Year Lease at 82 Wyndham Street

Argosy has today announced that it has successfully reached an agreement to lease approximately 2,657 square metres of space across two floors at 82 Wyndham Street in central Auckland to Panuku Development Auckland, an Auckland Council organisation. The lease is for a term of 9 years, with a break clause (with penalty) at 6 years, and will commence in August 2017. The top floor of the building is leased to long term tenant Boffa Miskell on a recently renewed lease leaving one 1,575 square metre floor available. The remaining floor is being marketed for lease, with good enquiry, and will be available for occupation in the second half of FY18. Argosy is completing an extensive $9 million refurbishment of the entire building. The upgrade is being completed to a high standard including a minimum 4 Green Star? built rating and is targeting a 4 Star NABERSNZ? energy efficiency rating. Following the upgrade, the building will provide very efficient, cost effective space and an attractive working environment for tenants. New services will include facilities to encourage cycling to work, an increase in the building's fresh air supply, a smart lighting system linked to automatic blinds, a window film that improves solar conversion, a variable refrigerant flow air conditioning system and the latest water saving and metering systems to enable usage to be measured for NABERSNZ. ?Green Star rating tools have been developed by the NZGBC (New Zealand Green Building Council) as a way of predicting the energy use and environmental impact of a building from the design phase to completion. ?The NABERSNZ rating system is based solely on the actual energy use of existing buildings. -ENDS- Enquiries Peter Mence Chief Executive Officer Argosy Property Limited Telephone: 09 304 3411 Email: pmence@argosy.co.nz Dave Fraser Chief Financial Officer Argosy Property Limited Telephone: 09 304 3469 Email: dfraser@argosy.co.nz Scott Lunny Investor Relations Manager Argosy Property Limited Telephone: 09 304 3426 Email: slunny@argosy.co.nz End CA:00299385 For:ARG Type:GENERAL Time:2017-04-04 11:20:20