Peter Inge re-enters the RV sector with personal commitment

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Another village sector ‘founding father’ who sold out the height of the GFC, has bought back in. Peter Inge, ex Joint MD of the Zig Inge Group and son of founder Zig Inge, has bought back their old Prospect Hill medium rise village at up market Camberwell in Melbourne. It’s reported he and his wife Penny will personally be the operators. Zig Inge Group sold 50% of its business to Macquarie Bank for $101 million in about 2005 then sold its second 50% together with Macquarie in November 2007. Their share a further $255 million. Total $356 million (excluding debt). They had 17 villages and 8 development sites. Aveo lose the management rights with the move to the Inges.