Aspen buys into Ravenswood

Aspen Group has bought a land plot of 33.4 hectares in Ravenswood of local investors for $ 12 million.

The provider of affordable housing that are quoted in ASX bought Rodored Crescent, a largely vacant block with subdivision approvals for 360 lots.

The company bought it from Ron Bates and Robert Armstrong, who sold the block through Kimba Pty Ltd and Jutland Investments Pty Ltd.

Armstrong was the co -founder of the Re -owned Fund of Perth Armstrong Jones in the 1980s.

Cygnet West’s partner, who Wayne Lawrence negotiated the agreement, said the earth was mature for development.

“Ravenswood is no longer a Hollow Sleepy Hollow known only for the Ravenswood pub. It is a prosperous suburban community that is conveniently located between Mandurah and Pinjarra, right next to the highway and only 6 km from the Peel Business Park, which will be a large node of future employment.”

“In addition, Coles has a nearby site that is destined to a shopping center.”

The purchase adds to the existing residential assets of Aspen, including the blocks of floors in Maylands that acquired from BGC in 2021 and subsequently renewed.