Highlights
- Acquisition of highest rated, most awarded tourism park in Australia
- Off-market $50 million acquisition – ingoing yield >8%
- Significant approved development upside offering >20% return on invested capital
- Adds 325 tourism sites and 35 long-term residential homes
- Seeds new North Queensland cluster – further acquisitions under assessment
- Founders and owners to exclusively consult to Ingenia to improve existing tourism parks over next three years
Ingenia Communities Group (ASX:INA) today announced that the Group has exchanged contracts to acquire the Cairns Coconut Holiday Resort, in North Queensland. Located on 11 hectares of landscaped tropical gardens in the popular tourist destination, Cairns Coconut is renowned as the top tourism park in Australia and was recently ranked number 8 in TripAdvisor’s 2017 Travellers’ Choice Awards amongst the “Top 25 Hotels in Australia”.
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