News and publications

News & Publications

Argosy disposes of non core property above book value

NZ Post House Earthquake Update

FY17 3rd quarter dividend

Argosy Divests Vacant Land in Albany

At a Glance

Properties
64
30/09/2016
Tenants
188
30/09/2016
Total portfolio
$1.40b
30/09/2016

Presentations

  • 2016 Annual Results

    Presentation

    Peter Mence CEO and Dave Fraser CFO present the 2016 full year results.

  • 2016 Interim Results

    Presentation

    Peter Mence CEO and Dave Fraser CFO present the 2016 interim results.

  • NZX interview

    Video

    NZX's Hannah Lynch talks to Argosy Property CEO Peter Mence about the company's investment strategy.

Investing in Argosy

Our Investment Policy sets the boundaries within which we will operate and invest, clearly defining what properties we will seek to own.

Investment Policy
We have a clear acquisition checklist against which we measure potential acquisitions. In some cases, we may consider a portfolio of assets, so long as it is consistent with our overall strategy. In other words, the majority by value of the properties meet our definition of Core properties or offer potential to move to Core in the medium term.

Please click here to view a PDF version of the Investment Strategy diagram below.

In certain circumstances, we may consider exceptions to the Investment Policy where an acquisition is made to meet the requirements of a valued tenant.

We are focused on maintaining a diversified portfolio of quality properties with an average value of between $10 million and $20 million. This allows us to be nimble and react quickly to changing market conditions. Liquid properties represent approximately 24% of the portfolio.

The Board intends to maintain the debt-to-total-assets ratio between 35% to 40% in the short to medium term. In the current environment, property sales of income producing assets have the potential to dilute earnings strongly. With this in mind, the divestment of vacant land or under yielding assets will remain a key strategy in maintaining the ratio between required parameters.

The portfolio has well diversified income streams, with the largest tenant in the portfolio being New Zealand Post and its subsidiary, Kiwibank (approximately 8% of gross property rental).

Industry Overview
Argosy is one of nine listed property vehicles (LPVs) that make up the New Zealand listed property sector. Internationally, LPVs are sometimes known as real estate investment trusts (REITs).

New Zealand property is considered a lower-risk, lower-return market. By market capitalisation, the New Zealand listed property sector is valued at over NZ$8.5 billion, with Assets Under Management of more than NZ$11.5 billion. It is diversified across the traditional asset classes of office, industrial and retail.

LPVs are listed on the NZX. As an investor, they provide a number of benefits when compared to traditional (direct) property ownership. They:
•    provide exposure and access to commercial property returns without large upfront capital requirements
•    enable diversification across a wider range of properties across geographic locations
•    provide exposure to assets of a quality and scale that individual investors could not normally buy on their own
•    allow immediate liquidity through the ability to sell units/shares through the stock exchange.

How to invest
Contact your broker to find out how to invest in Argosy Property Limited. If you aren't registered with a broker, you’ll find a list of brokers in your area on the NZX website.

NZX Listed
We are focused on maintaining a diversified portfolio of quality properties with an average value of between $10 million and $20 million.

Performance

Total Portfolio ValueBy Sector

As at 30/09/2016
39%
Office
39%
Industrial
22%
Retail

Total Portfolio ValueBy Region

As at 30/09/2016
68%
Auckland
26%
Wellington
6%
North Island regional and South Island

WALT

Weighted Average Lease TermBy Sector

As at 30/09/2016
Years

5.26yrs

As of 30 September 2016, the Weighted Average Lease Term (“WALT”) is 5.26 years. The WALT is very important because portfolio values are fundamentally affected by security of income streams.

March 2016 Full Year Results Presentation

Presentation of the 31 March 2016 Full Year Results, featuring highlights, financial performance and portfolio overview.

Financial Accounts

We are committed to delivering financial accounts which keep existing and potential investors - as well as professional investment intermediaries - informed about our results, our portfolio, our strategy and the work we are doing to deliver returns. Our annual report for the period ending 31 March is generally available from mid-June. We also publish an interim report for the half-year to 30 September. This is generally available from mid-December each year.

Dividends

The Board’s policy is to declare dividends that are less than net distributable income.

The Board is pleased to confirm that, based on current projections for the portfolio, the dividend is expected to increase in the 2017 financial year to 6.10 cents per share, fully payable from net distributable income.

Argosy is a listed Portfolio Investment Entity, or PIE, for New Zealand income tax purposes. For further advice, we recommend you speak to your financial advisor or tax agent.

Keeping track of your investment

Computershare Investor Services Limited administers and maintains the shareholder register, which includes your Argosy shares.

To find out about your investment, please contact Computershare on:

t/ +64 9 488 8777
f/ +64 9 488 8787
e/ enquiry@computershare.co.nz
www.investorcentre.com/nz

Street address

Level 2, 159 Hurstmere Road

Takapuna
Auckland 0622
New Zealand

Postal address

Private Bag 92119
Victoria Street West 

Auckland 1142 

New Zealand 

2017 FEBRUARY/MARCH

•    Dividend payment

2017 MAY/JUNE

•    Annual Report
•    Roadshow
•    Dividend payment

2017 AUGUST/SEPTEMBER

•    Annual Meeting
•    Dividend payment

2017 NOVEMBER/DECEMBER

•    Interim Report
•    Dividend payment

 

 

 

 

Next key date: 
30.03.17
Caption: 
The FY17 3rd quarter dividend of 1.525 cents per share will be paid on 30 March 2017.