Highlights
- Acquisition of coastal greenfield development site at Woolgoolga, north of Coffs Harbour, now unconditional
- Off-market $7.8 million acquisition forming part of May 2017 capital raising
- Adds 196 approved development sites to key NSW Mid-North Coast cluster
- Settlement anticipated August 2017 with first sales targeted for Q4 FY18
Ingenia Communities Group (ASX:INA) today announced that the Group has exchanged unconditional contracts for the second of the acquisitions announced on 3 May 2017 in conjunction with a fully underwritten $74 million capital raising. The Group expects to settle the acquisition in August 2017 and is targeting commencement of the development at the end of 2017, with initial sales targeted for the last quarter of the 2018 financial year.
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