Ingenia Communities
(ASX:INA) has announced it has exchanged contracts to acquire Big4 Soldiers Point in New South Wales.
The company, which provides aged care accommodation, says the 2.8 hectare park is located in a prime tourism location about 2.5 hours north of Sydney.
The park is within Ingenia’s Hunter/Newcastle cluster which will expand to nine communities on completion of the acquisition, offering a mix of permanent sites and tourism accommodation.
Ingenia will acquire the park for $10.5 million on an initial yield of over 8 per cent.
Ingenia Communities reported a net profit of $25.72 million at June 30.
