Aspen acquires NSW resort for $3m

Perth-based property developer Aspen Group Ltd subsidiary Aspen Parks Property Fund has acquired the 140 ha Great Aussie Resort in Albury-Wodonga for $3 million.

The full text of a company announcement is pasted below

Aspen Group announced the acquisition by the Aspen Parks Property Fund of the Great Aussie Resort in Albury-Wodonga NSW for $3 million.

Located on Lake Hume, the park has approximately 2km of foreshore frontage. In total the 140 hectare park has 105 sites with a further 100 sites serviced but unused and a further 95 sites approved for development.

Half of the park has a rural zoning with plans to use the 100 unused sites for long term annual sites, which will provide the fund with secure future earnings.