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.

“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.”

Jeff Morrison, Chairman

View a PDF version of Our Strategy at Work.

Argosy PACT 5

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.

More About Us

Find out more about our business and the key activities we undertake.

Looking for a quality property?

Are you looking for space to help grow your business and allow your people to thrive? Check out our properties currently available for lease or under development. 

23 Customs Street
23 Customs Street
39 Market Place
39 Market Place
147 Lambton Quay
147 Lambton Quay
DEVELOPMENT - 224 Neilson Street
DEVELOPMENT - 224 Neilson Street
DEVELOPMENT - 8-14 Mt Richmond Drive
DEVELOPMENT - 8-14 Mt Richmond Drive
32 Bell Avenue
32 Bell Avenue