Retail out of favour with Argosy, Ladstone sells Pakuranga

Argosy [NZX: ARG] continues to reduce its exposure to retail property.

It has advertised Porirua Mega Centre for sale. 

This follows the sale of the Waitakere Mega Centre in Henderson, Auckland for $45.75 million to Christchurch investors. 

The sale of the property doesn’t settle until March 2015.

Argosy will manage the property in consultation with the buyer in the period up to settlement.

 

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