Aspen Group starts on Swan Valley development

ASPEN Group says it has raised the minimum amount needed to start the development of a new residential area in the Swan Valley.

The property group raised the minimum $8 million from investors in six weeks, in a sign Aspen said indicates a pick up in the state’s property market on the back of a strong economy.

The development, called the Enclave at St Leonards, will comprise of 181 residential lots and form part of the Swan Urban Growth Corridor, adjacent to the Swan Valley.

“We have already received considerable interest from builders in the land when it becomes available on the market, with expressions of interest received on 60 per cent of the lots,” Aspen’s head of residential Chris Lewis said.

“We are seeing very strong demand for residential land available this close to the CBD, and expect this to continue, given the strong outlook for growth in the WA economy.”

Date: 13 January 2011 | For the full report, please visit http://www.perthnow.com.au