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.