What We Do

We are one of New Zealand's leading listed property companies. Our portfolio is centred on the Auckland and Wellington markets with modest tenant-driven exposure to provincial markets.

Our Strategy

“Argosy has always sought to do the right thing by tenants and the environment. Our vision of building a better future aims to reflect this at a more aspirational level.

We have some big long term goals for the company over the next ten years primarily focused around the environment, including being carbon neutral and targeting 50% of the portfolio being green assets.

Our strategy of creating a green, resilient and diversified business, requires us to remain focused on delivering for all stakeholders.


View a PDF version of Our Strategy at Work.

Investment Strategy

Our strategy is to build our portfolio based around a mix of Core and Value Add properties. Core properties are well-constructed, well-located assets we intend to hold long term (>10 years). Value Add properties are those which, through skilled asset management, we believe can increase future earnings and provide capital growth. 

The key features of Core properties are:

  • Strong long term demand (well-located and generic).
  • A preferred leasing profile that provides for rental growth of at least CPI.
  • Excellent structural integrity with minimal capital expenditure required on maintenance.

Value Add properties are also well-located with the potential for strong long term tenant demand. These properties are available for near to medium term re-positioning or development with a view to moving them into the Core category.

Core properties will make up 75% to 90% of the portfolio by value.  Core properties currently represent approximately 83% of the portfolio and Value Add 17%. 

Investment Policy

Where will we buy?

55-65% Industrial

25-35% Office

5-15%   Large Format Retail

We will target "off-market" acquisitions and avoid competitive processes. Target Value Add properties where we can leverage internal expertise within overall Core/Value Add targets. Target contiguous properties with potential.

We will focus on good quality Office, Industrial and Large Format Retail. Concentrate on Auckland (65-75%) and Wellington (20-30%). Regional North Island (including the Golden Triangle between Auckland, Tauranga and Hamilton) or South Island tenant-driven only (<10%). We do not invest in leasehold or international properties.

Value Parameters
  • Greater than $10 million unless strategically imperative ($6 million for Industrial) ✓
  • No more than 10% of overall portfolio value ✓
Due Diligence
  • Apply Argosy's due diligence checklist ✓
  • Structural integrity > 70% of National Building Standard (unless this represents a Value Add opportunity) ✓
  • Developments only for tenants who provide strategic value to Argosy ✓
  • Joint ventures will be undertaken only where the counterparty is of sufficient financial standing to carry their share of risk ✓
  • Third party management of external portfolios where complementary ✓


View a PDF version of our Investment Policy.