The Aspen Group, an enthusiastic property buyer, is engaging in a rare sell-off with the listing of a fully leased block of flats in Trigg, specifically targeting build-to-rent operators.
Never before have a group of 70s-built flats garnered so much attention at the complex on Lynn Street in Trigg. With the emergence of build-to-rent as an asset class, combined with the property's institutional seller, full occupancy, refurbished interiors, substantial block size, and proximity to the beach — all on a single title — the new listing is expected to draw many inquiries.
The block comprises mostly two-bedroom units, with leases on all units due to expire between July 2026 and May 2027. The refurbished apartment complex is situated on a 1977-square-metre corner site less than 500 metres from Trigg Beach and Mettams Pool.
Offered for sale via expressions of interest campaign closing on June 3, by Ray White Commercial WA agents Stephen Harrison and Brett Wilkins, this listing is almost without precedent.
Mr Harrison said the property had “one owner, one asset, 11 income streams.”
“You’ve got 100 per cent occupancy, strong in-place income from day one, and a clear pathway to rental uplift as leases roll — all sitting on an irreplaceable coastal landholding,” Mr Harrison said.
“There’s embedded upside here. As each lease renews over the next 12 months, a new owner has the ability to capture the strong rental growth we’re seeing across Perth, particularly in premium beachside locations like Trigg.”
The Aspen Group has demonstrated significant confidence in the Western Australian market over the years, including its $32.5 million purchase of Albemarle. Its largest acquisition was a $52 million portfolio of apartments in Applecross, Claremont, Swanbourne, Trigg, and Maylands.
Mr Wilkins noted a significant influx of Eastern States buyers chasing yield and growth in Perth. “Assets like this — fully leased, single-title residential blocks in blue-chip coastal locations — are exactly what that capital is targeting.”
In other property news, the closure of the popular Angove Street Collective is not a precursor to demolition of the heritage building or construction of a new high rise, the landlord has assured. The Collective is in the process of closing down after its lease was not renewed by landlord charity Casson House.
Rumours had circulated that Casson House intended to demolish the property and the neighbouring Stomp coffee shop, which it also owns, and combine the site with Casson’s neighbouring 3300-square-metre psychiatric unit. There were also rumours that the 4000 square metres of prime inner-city land would be used for a high-rise development.
However, Casson House’s chief executive Nic Casson on Tuesday categorically ruled out these rumours.
“No development application has been lodged and none is planned. The suggestion that any neighbouring business is closing due to Casson’s development intentions is also incorrect,” Mr Casson said.
“Casson homes need to use a majority of that property for operational purpose and any future use of Casson Homes properties would be consistent with our charitable purpose.”
Executive officer Jenny Casson said they would not consider moving patients from the not-for-profit psychiatric facility because the patients were attached to their homes. The charity was founded by their great-grandmother Suzie Casson in 1922.
Additionally, Colliers has sold four properties within the newly developed Dayton Service Centre for a combined $17.15 million, reinforcing the depth of buyer demand in high growth corridors. The sales include properties to Chevron-owned Caltex service station, Hungry Jack’s, Chicken Treat, and Stride Early Learning & Child Care.
The sale drew 239 inquiries and 14 formal offers from private investors, syndicators, and passive capital groups — leaving about $74.1 million in unsatisfied capital. The Dayton Service Centre is positioned in a high residential growth catchment area, with ample amenity in the vicinity and proximity to the new Woolworths-anchored neighbourhood shopping centre. All four transactions were brokered by Colliers’ Aidan Austen and Richard Cash.
