Ingenia has purchased Oakland Village, a partially-completed land lease development in southeast Queensland, adding almost 150 homes and approved sites to its portfolio.
Located in Beaudesert, an hour from Brisbane and the Gold Coast, the village has seven homes already built with 140 additional sites approved, and capacity for a further 21 subject to Council approval.
According to Ingenia CEO Simon Owen, the $8.5 million deal could generate settlements in the second half of 2022, with the local area expected to grow Oakland’s target demographic through to 2026.
“Oakland Village provides further exposure to the fast-growing Queensland market, allowing Ingenia to expand into the popular Scenic Rim Region and capitalise on demand from people moving north from New South Wales and Victoria.
“This acquisition demonstrates our ongoing ability to originate off-market deal flow in an increasingly competitive market,” he said.
Oakland Village is the 16th of 20 acquisitions laid out by Ingenia in its $552 million expansion plan announced last year.
