Aspen investment pays off

PERTH-BASED property developer Aspen Group has announced that the carrying value of its Perth CBD office property, Septimus Roe Square, on Adelaide Terrace, has increased $20 million, to $50.2 million. Aspen Group managing director Angelo Del Borrello said the revaluation, resulting in a significant increase in book value, was a result of higher occupancies, a stronger lease profile and the company’s ability to capitalise on the yield compression within the CBD. The 17-storey Septimus Roe Square building is set to get an additional 500 square metres of ground floor retail space by September as part of a $4 million upgrade. As a result of the increase in book value, the group’s net tangible asset backing also rose, from $0.90 to $1.02. Further independent evaluations are currently being performed to as part of Aspen’s financial year-end reporting process.


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Aspen Group (APZ)

Share Price

Closing price for the last 90 trading days
Source: Morningstar

Total Shareholder Return as at 29/06/18

1 year TSR5 year TSR
500thAspen Group-5%-5%
722 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

$46k Issued
$260k Bought
$0 Other
Total value as at the date of the transaction
Source: Morningstar


th-Aspen Group$15.8m
77 listed non wa companies ranked by revenue.
Source: Morningstar

Remuneration from Aspen Group

222ndAdam Marrs Ekamper$488k
867thGuy Farrands$112k
917thClive Appleton$98k
Ranked by total remuneration from all listed WA companies

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