Aspen acquires Perth residential property portfolio for $20 million
Written on the 23 October 2019 by Business News Australia
Listed accommodation provider Aspen (ASX: APZ) has acquired a portfolio of 84 residential properties in Perth for $20 million.
The properties are located in the high population growth corridors of Rockingham in the southern beaches and Swan in the north east.
The purchase price of $20 million equates to approximately $238,000 per dwelling and reflects a discount of at least 20 per cent to current retail prices of the individual houses.
According to Aspen, the properties are located attractive regions for lifestyle, located along beaches and national parks, with easy access to the Perth CBD.
The 84 dwellings typically include three to four bedrooms, two bathrooms, and two car garages or carports.
Shares in Aspen Group are down 0.85 per cent to $1.17 per share.
Business News Australia
Author: Business News Australia