Aspen Group Limited
(ASX:APZ) has announced its intention to sell the Septimus Roe Office building in Perth.
The sale price is $91 million which is in line with net carrying value as at 31 December 2013.
The property investor says the majority of proceeds are expected to be utilised for debt reduction, however they will also look to commence capital management initiatives, as well as potential reinvestment of capital in the business. It is expected to settle before 25th June 2014.
Aspen Group reported a net loss of $70.2 million in the first half of the 2014 financial year.
