Aspen Group Ltd
(ASX:APZ) has acquired the Barlings Beach Holiday Park, near Batemans Bay in NSW, for $13.3 million.
Aspen says its new holiday park is an 8.8 hectare freehold tourism park, containing of 259 accommodation sites. The company says this transaction will be immediately accretive to its earnings.
Last month, Aspen acquired the BIG4 Tween Waters Holiday Park, which is a 2-hour drive away from its new Barlings Beach acquisition – establishing an ownership cluster around the NSW South Coast.
The company says that, subject to completion of its acquisitions in early 2017, its distributable earnings should be around 4.8 to 5.3 cents per security.
Aspen Group reported a net profit of $9.9 million at 30 June 2016.
