Aspen Group has taken the last step in its transformation into a specialist accommodation parks manager, announcing a merger proposal with its Aspen Parks Property Fund, which was previously a separate entity.
The office building at 220 St Georges Terrace has been sold for $35 million, with a local private buyer purchasing the building in a deal brokered by commercial agency Knight Frank.
Aspen Group has taken a $14 million hit to the value of its assets, writing down its Spearwood Industrial Estate as part of its annual portfolio review.
Aspen Group has made more progress in selling off its commercial portfolio, offloading its highest value asset - the Septimus Roe office tower on Adelaide Terrace - to Singaporean development giant Fa
