The ASX-listed owner and operator of Over 55s and all-ages rental land lease communities has bought its first site in the city of Cairns in Far North QLD.
It has paid $19 million for 14.72ha of land in the rural sugar-growing town of Gordonvale on the southern side of Cairns. Ingenia has lodged a development application with Cairns Regional Council to build 336 independent living units and communal facilities. In addition, it would have 66 caravan park spaces for storage only.
Shared amenities would include a clubhouse, bowling green, swimming pool and communal open space.
Ingenia has 23 land lease communities with 4374 homes, nine affordable rental communities for all ages with 1327 homes, and 27 seniors rental villages with 1437 homes. The Sydney-based business said in February it had a pipeline of 6451 potential homes.
Botanica Over 55s Lifestyle Resort at Caravonica is the only existing land lease site in Cairns. Website villages.com.au lists 15 retirement living and retirement villages in Cairns.
