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Aspen Parks Property Fund


Aspen Parks Property Fund
Rebate 2.40% as additional units
Minimum Investment $10,000
Investment Term Open-ended
Research Lonsec Research 2009 Recommended (Upper End)
  Zenith Research Recommended

BHP expand presence at Aspen Parks
18 Mar 2009

Aspen Group is pleased to announce the recommitment by BHP Billiton to remain a long term tenant at Aspen Parks Property Fund’s Cooke Point Holiday Park in Port Hedland, WA.

Under the new agreement, BHP has committed to a two year lease over 40 cabins, expiring in December 2010.   The new agreement replaces BHP’s previous 30 cabin lease which expired in December 2008.

This agreement represents a significant and consistent source of revenue for the Fund and will generate $6.1 million over the term of the lease.  This represents an increase in the Fund’s secure rental stream of $1.25 million per annum and a 28% increase in average weekly rental rate.

This expanded commitment by BHP indicates that there is still significant demand for resource related accommodation in the north west of Western Australia, despite recent cut-backs elsewhere in the country.

Aspen Parks’ position as a preferred accommodation supplier to BHP Billiton, together with the Fund’s well located properties, continue to underpin demand for our flexible accommodation options

Update
 

Fund is open for new applications
On the 1st August Aspen announced the acquisition of the Big 4 Holiday Park in Port Augusta, South Australia. The park’s strategic location will raise Aspen Parks’ profile by attracting tourists travelling between Western Australia, Victoria, New South Wales and the Northern Territory. The park is the Fund’s first investment in South Australia.
On the 20th April 2006, the Fund acquired the Horseshoe Lagoon Park in Moama, New South Wales. The park is 2 hours north of Melbourne on the Murray River and is built around a lagoon providing waterfront access for visitors.
Portfolio now comprises of 14 properties with a combined value of approximately $100 million.

   
Download PDS (4.17mb)
Flyer March 2008 (2.11mb)
Quarterly Update (169kb)
As of 30 June 2008 the fund has adopted daily unit pricing as per the revised Pricing Policy.
Application Price
   
 

Investment Objective

To provide stable, tax advantaged income returns, paid monthly, along with capital growth over the long term. The high level of income generated by the Fund is expected to result in consistent overall returns with relatively low volatility.

Investment Strategy
To acquire and expand a portfolio of park properties (caravan parks/tourist parks/accommodation parks) to a minimum value of $150 million over the next five years. The Fund seeks strong yielding parks with the potential for expansion or redevelopment into modern park resorts. Each park will be actively managed to ensure returns are maximized through income and capital growth.

Manager Profile
The Fund is managed by Aspen Funds Management Limited, a subsidiary of Aspen Group. The directors of Aspen Funds Management have many years experience in corporate management, property investments and management (including parks), and financial services. Aspen Group is a public company listed on the Australian Stock Exchange and included in the All Ordinaries Index. Its primary activities are property investment and management, and Aspen currently has in excess of $500m in assets under management.

Fund Details as at 31 August 2006
 

Date Established

July 2004

Total Fund Assets

Circa $100 million

Management Fee

1.5% of gross assets p.a.

Minimum Investment

$10,000

Redemptions
(refer to Aspen Group Liquidity Facility)

Not available

Income Distributions

Monthly

Gearing

Target 55%

Application Price

Refer to company's website


Performance (1 year to 30 June 2005)
 

Total Return

27.4%

Income Distribution

10 cents per stapled security

Fund Structure
The Fund is a stapled security structure comprising one unit in Aspen Parks Property Trust, and one share in Aspen Parks Property Management Ltd. The unit and share are joined together to form a stapled security.


Investment Term

The Fund is an illiquid Fund, that is, there is no provision for redemptions. As such, investors should consider the Fund as a long term investment.

It is the Manager’s intention to make recommendations to security holders seven years from the date of commencement of the Fund, regarding the continuation of the Fund. Such recommendations would include seeking to have the Fund listed on the ASX or disposal of assets and return of capital to investors.

Aspen Group Liquidity Facility
To help investors wishing to sell their holding, Aspen Group has agreed to purchase a minimum of $250,000 worth of ADPF securities per calendar quarter at a 5% discount to the prevailing application price. Full details of the facility are available from the Manager. The Manager may revise the size of this facility upwards as the Fund continues to grow.

Asset

Location

% of Assets

Perth Holiday Park

Caversham, WA

6.3%

Coogee Beach Holiday Park

Coogee,WA

4.9%

Woodman Point Holiday Park

Woodman Point, WA

6.7%

Cooke Point Holiday Park

Port Hedland, WA

8.8%

Balmoral Holiday Park

Karratha, WA

4.9%

Pilbara Holiday Park

Karratha, WA

7.4%

Exmouth Cape Holiday Park

Exmouth, WA

3.7%

Island Gateway Caravan Park

Airlie Beach, QLD

8.5%

Twofold Bay Beach Resort

Eden, NSW

8.0%

Yarraby Holiday and Tourist Park

Echuca, VIC

9.4%

Wallamba River Holiday Park

North Tuncurry, NSW

8.0%

Monkey Mia Dolphin Resort

Shark Bay, WA

8.5%

Horseshoe Lagoon

Moama, NSW

8.6%

Big 4 Holiday Park

Port Augusta, SA

6.3%

Location of properties owned by Aspen Parks


Note: This document is issued by Aspen Funds Management Limited ABN 48 104 322 278, AFS Licence 227933. This document provides general information only and is not financial produce advice. You should read the current offer document and if necessary consult a financial adviser before making any investment decisions.

Further information about the Fund can be obtained from Aspen Group by telephoning 08 9220 8400


Simply download an Investment Brochure/PDS above. It’s that easy!


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