Aspen (ASX:APZ) on Thursday said it will acquire the remaining stages of the Wallaroo Shores master planned community in a deal valued at AU$14.1 million, as the company looks to tap into the population growth potential of the Copper Coast.

The accommodation‑focused real estate company has entered into a contract with the Copper Coast Council for a project of over 300 facilities, including 200 lifestyle and lease sites, townhouses, and retail precincts, among other components.

The company will seek formal development approval following the completion of the transaction, it added.

The planned community spans 13.45 hectares and comes with an AU$8 million prior investment in infrastructure.

Aspen plans to finance the acquisition through debt, with interest capitalized until the project begins generating income.