Aspen’s $33m sale
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Thursday, 25 November, 2010 - 00:00
Category:
PROPERTY investment and funds manager Aspen
Group has made a profit after selling an office property
in inner Melbourne for $33.3 million.
The Perth company bought the property on St Kilda
Road for $25 million in November 2004.
Aspen Group managing director Gavin Hawkins
said it was an opportune time for the Group to maximise
on the fully let position of the asset.
He said the sale was in line with Aspen’s stated
strategy of recycling certain assets within its investment
property portfolio into higher grade properties
in primary office markets.
“It is considered an appropriate time for Aspen to
dispose of the asset and recycle the proceeds into other
higher grade investment property opportunities,” Mr
Hawkins said