Continuing its drive into the manufactured home park sector, Ingenia is adding three new parks to its portfolio. Conditional contracts have been exchanged for Town and Country Estate in Marsden Park 49 North West of Sydeny CBD, for $18 million on a stabilised yield of 8.0% and an unlevered IRR of 15%.
Conditional contracts have also been exchanged for Sun Country Holiday Village in near Lake Mulwala (South West NSW) for $7 million on a stabilised yield of 19.8% and unlevered IRR > 15%.
They will add 258 permanent homes, 200 annual cabins, 37 short term sites and over 288 development sites
A third manufactured home and tourist park in Sydney is subject to due diligence.
