Aspen spends $45m for WA sites
EXCLUSIVE
Land lease, living, lifestyle, over-55 community and tourist accommodation provider, Aspen Group, has bought a major Ravenswood block, south east of Mandurah.
The 33.4 hectare site on the banks of the Murray River, Lot 889 Rodoreda Crescent, cost $12 million.
With about 26.3ha developable, and permit-ready for a 360-lot subdivision, the result equates to $456,466 per hectare.
“The land adjoins existing residential estates which have either sold out or are in their final stages,” Cygnet West marketing agent, Wayne Lawrence, said.
“Therefore this parcel is ripe for development,” he added.
Population boom expected
The permitted plan allows for R20 residential density with R30 closer to the river.
Just over seven hectares is allocated for public reserve.
“Ravenswood is a thriving urban community which is conveniently located between Mandurah and Pinjarra, justs off the freeway and only six kilometres from Peel Business Park which is set to be a huge future employment node,” Mr Lawrence said.
Its population is forecast to grow 2.3 per cent per annum to c4900 by 2051, according to the executive.
“North Ravenswood is expected to undergo a massive transformation from a population of 64 in 2024 to 17,976 in 2051,” he added (story continues below).
Ravenswood is 10 kilometres from Mandurah.
Mandurah is 70km south of Perth.
Paris Grove workers camp set for repurpose
Meanwhile Aspen is outlaying $32.5 million for the Paris Grove workers camp at Australind.
The unused facility – it supported US lithium group Albermarle’s local expansion – will make way for an over 55s community.
On 18 hectares near Bunbury, it contains 386 rooms with ensuites in 67 transportable buildings.
There is also a clubhouse dining room, storage sheds and 600 car parks.
Aspen is planning to repurpose the facility with 130 one and two bedroom units.
A vacant 10ha tract is also earmarked for a 250-unit lifestyle village.
The end value of the project should circle $140m.
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