Argosy sells 626 Great South Road, Greenlane.

Argosy Property Limited ('Argosy') today announced it had unconditionally sold 626 Great South Road, Greenlane. The property has been sold at a price of $10.6m, 8.2% over the current book value of $9.8m. The agreement is unconditional with settlement scheduled for Friday, 30 November 2018. Argosy Chief Executive Officer Peter Mence said "The property was held within our non-Core pool of assets and we have taken the opportunity to continue divesting assets in an attractive vendors market. The settlement proceeds will initially be applied to reducing bank debt. While we still see the property market as being very firm, we continue to consider acquisitions and divestments where they fit within our long-term strategy." - ENDS - End CA:00323757 For:ARG Type:GENERAL Time:2018-09-12 10:21:50