The ASX-listed affordable housing group announced last Wednesday it has entered a conditional contract to buy a new 18ha accommodation complex in Australind, a town 12km northeast of Bunbury’s CBD. 

Aspen Group, which serves the 40% of Australian households with income less than $100,000 annually who can afford to pay more than about $400 per week to run a home, has agreed to pay $32.25 million (excluding transaction costs) for the property developed by Albemarie Corporation for the planned expansion of its Kemerton Lithium Plant. 

The site is zoned residential use for 450 dwellings. Aspen wants to reposition it into residential rentals and a land lease community. Settlement is expected next month.  

The Weekly SOURCE reported in February Joint CEO David Dixon announced Aspen Group had purchased 26ha of developable land at Ravenswood, 88km south of Perth and 12km southeast of Mandurah (pictured below).  

"Ravenswood WA has an approved structure plan already in place for 360 standard residential lots. Aspen intends to seek approvals to develop an Over-50s Lifestyle village with at least 200 houses on part of the site and standard residential lots on the rest to cater to the very different customer bases who need more affordable housing," David told The SOURCE. 

Browse Aspen Group’s retirement properties on the #1 listings website villages.com.au