Argosy sells Lambton Quay property for $6m

1st April 2026 By Staff Reporter | news@propertyticker.co.nz | @propertyticker

Argosy Property Limited has unconditionally sold its 143 Lambton Quay property in Wellington.

The company did not disclose the buyer but said the sale price of the 6,216 square metre office building was $6m.

The 8-storey asset was built around the 1940s, with a further three floors added in 1998. 

“The sale price aligns with expectations for the 31 March 2026 valuation,” Argosy said.

“143 Lambton Quay had previously been identified as a potential disposal.”

The NZX-listed industrial and offices property company said the settlement date is expected to be in May 2026.

“The property has been subject to a number of historic refurbishments and has recently undergone further significant works including new carpets, ceilings, upgraded air-conditioning and lifts,” Argosy said.

“This heritage building was Wellington’s first 5 Green Star Office Built rated building by the New Zealand Green Building Council.” 

Argosy said that the funds received from the sale will be used to reduce bank debt.

The company has over 50 properties in a portfolio of industrial, office and large format retail assets worth over $2.2bn.