• Aspen Group acquires remaining stages of Wallaroo Shores master planned community for $14.1m
• Site totals 13.45 hectares, with prior $8m investment in infrastructure
• Concept masterplan comprises over 300 sites including lifestyle land lease, residential BTR, townhouses and residential land lots

Aspen Group (ASX: APZ) has announced that it has entered a conditional contract to acquire the remaining stages of the Wallaroo Shores master planned community for $14.1m. The project is located in Wallaroo, a scenic coastal town on South Australia's Yorke Peninsula, approximately 160kms or 2 hours' drive north west of the Adelaide CBD. The Copper Coast region is one of South Australia's fastest growing areas, with an estimated population growth to 30,000+ people over the next 25 years, a ~90% increase. The site totals 13.45 hectares, fronting a foreshore reserve, and benefits from ~$8m of prior investment in infrastructure works. Aspen and the Copper Coast Council have agreed a concept masterplan that comprises more than 300 sites including 200 lifestyle land lease sites, residential build-to-rent (BTR), townhouses and residential land lots, plus a commercial and retail precinct. The acquisition will increase Aspen's development pipeline to 16 attractively located projects with close to 2,500 sites, diversified across lifestyle land lease, residential BTR and residential land, which have different customer bases.