Simon Owens Ingenia has reported an 86% increase in its unit price over the past 12 months, during which it transferred from ING Real Estate Communities to its new entity Ingenia. Since June the unit price has increased from 19 cents to 28 cents alone. He claims there is room for more growth to the mid-30 cents level. Their nominal profit was $13.1 million.
After eight years of rental villages being basket case investments Ingenia states their higher occupancy levels are generating a 42% ave. margin and a $5,400 ave. profit per unit per year. Each rental unit is now valued at $59,000.
Opinion
RIP: We are seeing the death of the family-run aged care operator
It feels like I am writing an obituary to family-run aged care facilities. Once the backbone of the sector, multi-generation operators are now selling out at a pace not seen before. The sell-off is accelerating, with three landmark deals in just two...
