Unconditional sale of Omahu Road, Hastings

Argosy Property Limited (Argosy or the Company) has announced today it has unconditionally sold its industrial property at 1478 Omahu Road, Hastings. The sale price is $10.4 million, slightly below its $10.7 million book value. The purchaser is a local investor. Chief Executive Officer, Peter Mence said 'Despite Covid-19, the domestic vendor market remains firm. We will continue to progress our capital management initiatives for assets which no longer meet our investment criteria." Settlement is expected to occur in September 2021. - END - End CA:00370582 For:ARG Type:GENERAL Time:2021-04-13 15:50:30