1 May 2013

Rise in property values reported by August

12:46 pm on 1 May 2013

Augusta Capital says the general improvement in the property market has meant the value of its properties rose 2%, or by nearly $1.9 million, to almost $97.5 million at 31 March compared with a year earlier.

The value of the syndicated properties the company manages rose by 2.4% to $227 million over the year.

Augusta expects to close its Carter's Penrose syndication no later than 24 May and that this offer has received very strong interest from investors.

The company has bought land and buildings at 12 Brick Street in Henderson which is leased to a steel construction firm for 15 years. Augusta plans to syndicate this property after the Carter's Penrose offer closes.