ING join the rush to Parkes (NSW), joining a $12M Southern Cross and a $190M private development

Last week we reported the $190M Parkes Gardens with a planned 644 ILU’s / Over 55’s development in Parkes, in Far West NSW. Now Southern Cross is proceeding with an additional 48 ILU’s worth $12 million. Out f the blue ING Community Living is seeking land in Parkes for its first new development in a number of years. ING CEO (and RVA President), Simon Owen, say ING sees opportunity in regional Australia, as compared to his big competitors who concentrate on the cities. 29% of Parkes’ 15,000 residents are 55+. It is also flourishing, with mining and a new transport hub – placing pressure on affordable housing stock.