Aspen Group's strategic land acquisition

Aspen Group (ASX:APZ) has announced the acquisition of a 1-hectare land lot at Coorong Quays, South Australia. This land is adjacent to the Alexandrina Cove Retirement Village. The acquisition involves an all-scrip payment, with the issuance of 521,000 stapled securities valued at $1.28 million. The company plans to expand the retirement village with additional lifestyle houses on the newly acquired land.

Aspen Group's expansion plans and future outlook

Aspen Group Limited has strategically acquired a 1-hectare land adjacent to Alexandrina Cove Retirement Village in Coorong Quays, South Australia. The acquisition, valued at $1.28 million, was made through the issuance of 521,000 stapled securities, indicating confidence in the company's market strength. The seller, a private entity linked to Mr. Viv Padman OAM, opted for securities over cash. Aspen plans to seek approvals for developing 25-30 lifestyle houses on this land, with an estimated cost per site between $43,000 and $51,000. This expansion aligns with Aspen's strategic goals in the retirement living sector, potentially enhancing its offerings and market position. The company's future outlook remains focused on growth through strategic acquisitions and developments, pending necessary approvals.

Executive insights on Coorong Quays acquisition

We are pleased to announce the acquisition of this 1-hectare land adjacent to our existing facilities at Alexandrina Cove Retirement Village. This acquisition aligns with our strategic goals of expanding our offerings in the retirement living sector. The decision to issue stapled securities as consideration reflects our confidence in Aspen's market valuation. We look forward to obtaining the necessary approvals to develop 25-30 new lifestyle houses, enhancing the living options in this community.