Ingenia buy waterfront holiday park

Company News

by Rachael Jones

Holiday accommodation company Ingenia (ASX:INA) has bought a waterfront holiday park on the Sunshine Coast.

The Rivershore Resort is on the Maroochy River.

The resort opened in August 2016 for $23.25 million on an initially yield of over 7.5 per cent.

It builds their holiday park portfolio to include Maroochydore, Noosa, Hervey Bay and Cairns.

Shares in Ingenia (ASX:INA) trading 0.83 per cent lower at $2.96.

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