Aspen purchases WA lifestyle community in Boyanup
Aspen Group (ASX: APZ) (‘‘Aspen’’) is pleased to announce that it has entered into a conditional contract to acquire the Meadowbrooke Lifestyle Estate (‘‘Meadowbrooke’’) in Boyanup, Western Australia under a receivership sale. Settlement is expected to occur in December 2021. Read the latest acquisition announcement here.
Aspen announces it’s Q1 Results
Recently Aspen released their latest Q1 results for this financial year. The next quarter is sure to bring further fantastic results across all property platforms. To find out more information about these results take a look at our latest Q1 update.
The difference between a Retirement Village and Land Lease Community
There are fundamental differences between a Retirement Village and a Land Lease Community. Aspen currently own 7 lifestyle communities across Australia. Most of these only contain Land Lease homes however some of our communities have a mix.
A Land Lease Community:
- no stamp duty fees
- you own your own home keeping 100% of any capital gains
- as you lease the land there is a more affordable upfront price point
- your new home is part of your estate as a willable asset
- where eligible, the site fees may be covered by government rent assistance (note there is a weekly site fee for LLCs)
- no council rates
- no exit fees or DMF on exit
Whereas a Retirement Village has the following:
- Weekly management fee
- Deferred management fees