- Acquisition includes lifestyle community on Sunshine Coast, and BIG4 Townsville Woodlands
- Combined purchase price of $65.9M
- Expansion is part of growth strategy following $178M capital raise in May 2020
Ingenia capitalises on strong market conditions, expanding into two new premium properties in Queensland.
The company recently released its half-yearly results, posting strong growth figures like many other real estate companies over the past two months.
The acquisition follows a strong capital raise in 2020, with the purchase of an over 50’s lifestyle community and BIG4 holiday park totalling $65.9M.
The Property Tribune recently reported on tight market conditions on the Sunshine Coast, with very few properties on the market and all-time low vacancy rates as well.
Ingenia’s entry into the lifestyle community scene in the area is not likely to open up the market too much, the community already developed over the past six years with only 68 more homes to be added.
The new homes to be released are expected to fetch around $600,000.
Holiday businesses weren’t expected to show any signs of recovery for some time to come with international borders still closed.
Local demand, however, has bucked the trend, particularly with caravaning on a considerable rise, many suppliers across Australia sold out or putting up months-long waiting lists for new caravans.
The acquisition of BIG4 Townsville Woodlands Holiday Park seems to be in line with local demand, CEO of Ingenia, Simon Owen, said in a statement:
“We are seeing strong demand for domestic travel and our holiday parks are benefitting with increased occupancy.
BIG4 Townsville Woodlands provides Ingenia with the ability to build upon our presence along a key drive route and to improve returns through the addition of new cabins, active revenue management and integration to the Ingenia Holidays platform,”
This isn’t the only holiday acquisition in recent months, Ingenia also stated that the BIG4 acquisition “Combined with the acquisition of Merry Beach Holiday Park (announced in December 2020), the Group anticipates completing $86.5 million of acquisitions over the next few months and is well progressed with plans to deploy further capital over the remainder of this financial year.”
