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Perth-based property developer Aspen Group has paid $14 million for the Kununurra Country Club Resort.
The group has also acquired Coral Bay's Ningaloo Reef Resort as part of a $40 million property buy.
These acquisitions by Aspen Parks Property Fund bring its total property portfolio to 18 parks spread across five States with a value of more than $150 million.
Aspen Group managing director Angelo Del Borrello said that the fund's initial target of $150 million of parks resorts within five years had been achieved in only three.
"The growth in the fund has exceeded our earlier expectations.
"The national management structure which has been successfully established can now be leveraged to capitalise on the significant future opportunities in this maturing yet still fragmented sector," Mr Del Borrello said.
"The Fund is well placed to continue its strong performance, which since inception has delivered to our investors not only regular monthly income but an average total annual return of 18.8 percent". |
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