Interesting presentation which confirms that they focus on the most affordable parts of the market : more than 50 % of their rental pool and approved developments are in SA and WA. So far, Aspen has also been quite cautious in Victoria where they have only 4 % of their rental pool.
Also a good example in this presentation on how they grow the value of their portfolio : Adelaide Caravan Park. They are going to redevelop the place to build apartments. After redevelopment, they expect that the total value of this asset will grow from 20.5 m$ to 28 m$ (+ 37 %), only thanks to higher cap rate for apartments (5 % vs 7 % for the caravan park), while they expect to generate a similar cash flow with average rent of 450 $ per week.
APZ Price at posting:
$2.62 Sentiment: None Disclosure: Not Held
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(20min delay)