Aspen Group’s Dunsborough Lakes Estate has recorded an increase in valuation from the purchase price of $93.68 million in October 2005 to $118.95 million as at June 01, 2006.
This increase in value is net of the $8 million of gross sales that have already been realised during the valuation period and when added to the current valuation amount, represent a 35.5% increase in equivalent total value in just 8 months.
A further $25 million of contracted sales is due to settle subsequent to the valuation date.
Aspen’s managing director Angelo Del Borrello said the valuation is not only an excellent result for the shareholders of the Aspen Dunsborough Lakes Syndicate but provides a significant uplift in the outlook for future fund management income for the Aspen Group.
By Adam Parsons
