Ingenia (ASX:INA) expands its lifestyle & holidays business via acquisitions

  • February 23, 2021 03:29 PM AEDT
  • Team Kalkine
Ingenia (ASX:INA) expands its lifestyle & holidays business via acquisitions

Source: Shutterstock

Summary

  • Ingenia Communities has made significant progress towards its FY2021 growth strategy by deploying significant capital in its lifestyle and holidays business.
  • The Company signed an unconditional deal to acquire one of the premium lifestyle communities situated on the Queensland Sunshine Coast.
  • Ingenia also signed an agreement to buy a mixed-use holiday park.
Gold MTF non-AMP

Ingenia Communities Group (ASX:INA) has made progress in expanding its lifestyle and holidays business by acquiring a premium lifestyle community & a mixed-use holiday resort situated in Queensland. The acquisition is a step towards delivering the Company's growth strategy in FY2021. The Company deployed A$178 million of the capital raised in May 2020 to increase its lifestyle and holidays business.

Source: © nespix | Megapixl.com

DO READ: Ingenia (ASX:INA) shows resilience, reports record EBIT in 1H FY2021

A Glance at Nature’s Edge Acquisition

Ingenia Communities signed an unconditional deal to acquire one of the premium lifestyle communities situated on Queensland Sunshine Coast. The acquisition is likely to complete in late March 2021.

Nature’s Edge has been built over the previous six years into a top community of 181 homes with large, superior facilities. Further, the acquisition comprises The Village Forest Glen along with the Forest Glen Holiday Resort. The Village Forest Glen has 51 permanent homes, while the Forest Glen Holiday Resort is a component of ok'd 68-home extension of Nature’s Edge.

Once the acquisition gets completed, the community would have 300 permanent homes. Thus, providing a considerable rental base.

Inside Community Facilities:

The community facility comprises an indoor swimming pool, spacious community centre with a cinema, bar, dining area and billiard tables, tennis court and bowling green.

BIG4 Townsville Woodlands Holiday Park’s Acquisition

Ingenia has signed a deal to obtain a mixed-use holiday park comprising cabins, sites & continuing rentals in Townsville. The holiday park is situated off the Bruce Highway on 6.4 hectares of land and is on the popular driveway from Brisbane to Cairns.

Holiday accommodation comprises twenty-two cabins, twenty-six ensuite spots and fifty-five powered & unpowered locations. Most of the cabins are new, or they were lately refurbished. Further, the capacity for 55 long-term rentals gives a steady rent base, bolstering Park’s revenue.

If we look at the family market, the facilities comprise of a water park, two swimming pools, camp kitchen, swimming pool, BBQs, mini-golf, and kiosk. The guests here are mostly the local families, along with the holidaymakers from other regions of QLD.

The Company is purchasing the Park on an ingoing yield of more than 8%. The Company feels that there is enormous upside potential.

DID YOU KNOW: Ingenia (ASX:INA) Acquires Beachfront Holiday Park on NSW South Coast

Stock Information: At AEDT 3:03 PM, INA shares were trading at A$4.915, down 1.107% from the previous close. 

 

 


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