Argosy Sells Wellington Office Asset to Cut Debt

Argosy Property Limited ( (IGPYF) ) has issued an update.

Argosy Property Limited has unconditionally sold its property at 143 Lambton Quay in Wellington for $6 million, in line with the asset’s expected 31 March 2026 valuation. The building had previously been earmarked as a potential disposal as part of the company’s portfolio management strategy.

Settlement is scheduled for May 2026 and Argosy plans to apply the sale proceeds to reduce bank debt, which should marginally strengthen its balance sheet. The transaction underscores the landlord’s ongoing approach of divesting non-core assets and could incrementally improve its financial flexibility in a cautious commercial property market.

More about Argosy Property Limited

Argosy Property Limited is a New Zealand-based property investment company focused on owning and managing commercial real estate. Its portfolio typically includes office, industrial and retail assets, with an emphasis on active portfolio management and recycling of capital through targeted acquisitions and disposals.

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