Ingenia Communities acquires NSW holiday park for $13.5M

Company News

by David Chau

Ingenia Communities (ASX:INA) has exchanged unconditional contracts for a beachfront holiday park that it acquired in the NSW mid-north coast.

The Group expects to settle the BIG4 Bonny Hills Holiday Park transaction at the end of this month.

Ingenia acquired the Park, near Rainbow Beach, for an off-market price of $13.5 million – forming part of its $74 million capital raising.

Through this acquisition, Ingenia is targeting a stabilised yield of over 9% and unlevered IRR of more than 12%.

This morning, Ingenia shares are flat at $2.72.

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