Aspen Development Fund No1 (ADF No1) is the first in a planned series of development style syndicated funds available to sophisticated and institutional investors.
ADF No1 was created following the acquisition of the Caversham Properties portfolio and subsequently syndicated to institutional investors. The initial asset value of $234 million comprised holdings located in metropolitan Perth, regional Western Australia, Adelaide and Sydney, and diversified across residential, commercial and retirement living sectors.
Residential
The residential land bank of ADF No1 includes active residential land sub-divisions at Byford.
Byford on the Scarp, in south east metropolitan Perth, together with rural residential holdings in Chittering and Geraldton, totaling 1,800 hectares and a land bank of 150 hectares in Upper Swan for future development.
Commercial
The Adelaide City Central development comprises an entire city block redevelopment in the Adelaide CBD which includes at least eight inter-related office, retail, hotel and residential projects. The $800 million development has adopted a focus on environmentally sustainable outcomes, with the initial stage Tower 1 completed in 2007 representing at the time Australia's largest five-star green star rated commercial office building. Tower 2 was completed in 2008 to the same sustainability standards.
For more information on the Precinct development please click on the link below:
Adelaide City Central
Medical
Aspen Developments completed development of the 50 bed Campbelltown Private Hospital during 2007, meeting the delivery and cost budgets for one of the country's leading providers of private health care, Healthscope Limited.
With the success of that project, ADF No1 secured a site in Norwest Business Park in Sydney and proceeded with the development of a new Norwest Private Hospital and Specialist Medical Centre. The 171 bed hospital component opened for business on 7 September 2009, also owned and operated by Healthscope Limited, and the 8,000m² of associated strata suites in the Medical Centre are being progressively purchased or leased by specialist support services.
For more information please click on the links below:
Campbelltown Private Hospital
Norwest Private Hospital
Retirement
Aspen Developments has continued to build upon its track record established over the last eight years in the development of retirement communities specifically for the not-for-profit sector, with the completion in 2007 of the $100 million Macarthur Retirement Village for Illawarra Retirement Trust in Campbelltown NSW.
ADF No1 Limited is currently developing a prestigious new community at Currambine in Perth's northern suburbs on behalf of Southern Cross Care (WA). For more information on this development click on the link below:
http://www.sunlandervillage.com.au
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