Ingenia confirms Sydney park purchase

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Simon Owen’s Ingenia continues its manufactured Home Estate expansion by acquisition. It has finalised the purchase of the OK Caravan Park at Rouse Hill, 45 kl North West of the CBD. Ingenia paid $6.8M which delivers 120 permanent homes and 10 short term sites. Development potential exists for 2 more sites.
The ingoing yield is reported at 8.7% and IRR of 15%.