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.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.