Ingenia Communities : talks acquisition of Cairns Coconut Holiday Resort
Ingenia Communities Group (ASX:INA) CEO Simon Owen talks about the latest acquisition and plans for its first resort in North Queensland.
It is a very large park comprising 118 premium tourism cabins, 207 caravan and camping sites and in addition to that there are 35 permanent homes on site so its a very large acquisition.
What's also very exciting is that with the acquisition there is also the ability to add in upwards of 30 new permanent homes or tourism cabins and we expect that we will be able to generate over a 20 per cent return on additional capital we invest into the park.