This article is from the Australian Property Journal archive
ASPEN Group has purchased the Barlings Beach Holiday Park for $13.3 million, adding to its recently acquired BIG4 Tween Waters Holiday Park on the New South Wales south coast.
The purchase price of the 8.8-hectare Barlings Beach tourism park reflects an initial yield of 9.1%.
The park comprises 259 sites, made up of 197 annual and permanent residents.
Aspen Group chief executive officer Joel Cann said the acquisition of Barlings Beach is in line with the group’s stated focus to become an industry leader in the affordable accommodation sector.
The purchase will be funded from existing cash holdings of Aspen Group, with settlement expected in late January.
Aspen’s distributable earnings for FY17 are now expected to be in the range of 4.8 to 5.3 cents per security, subject to completion of all acquisitions in early2017 as planned, after advising at its AGM distributable earnings would exceed 4.5 cents per security.
Aspen also announced the settlement of the BIG4Tween Waters Holiday Park had occurred.
Australian Property Journal
