Going green, Argosy to hive off seven properties
The NZX-listed company saw its market value climb 3.6% to $2.1 billion during the year to March.
Argosy chief executive Peter Mence.
Brent Melville
Wed, 21 May 2025
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Key points
- Revenue: Net property income up slightly at $116.9 million
- Revaluations: Up 3.6%, on market rental growth, at $2.1 billion
- Main takeaway: Company has earmarked seven of its properties, valued at $147m, for disposal as it bets on its 'green' property credentials.
Argosy Property banked $35.2 million in March from the sale of Mt Wellington's 8 Forge Way and will put the 'for sale' sign up on a further seven properties.
The NZX-listed company, which holds 549,235 square metres of lettable space across 50 buildings, saw its market value climb 3.6% to $2.1
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Brent Melville
Wed, 21 May 2025
Contact the Writer: bmelville@nbr.co.nz
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Key points
- Revenue: Net property income up slightly at $116.9 million
- Revaluations: Up 3.6%, on market rental growth, at $2.1 billion
- Main takeaway: Company has earmarked seven of its properties, valued at $147m, for disposal as it bets on its 'green' property credentials.
Company profile
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Going green, Argosy to hive off seven properties
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