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INGENIA COMMUNITIES GROUP — Annual Report 2017
Aug 21, 2017
65125_rns_2017-08-21_b3f463d2-6180-4feb-bc65-7aa5b9fcb5c3.pdf
Annual Report
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2017
ABOUT INGENIA
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INGENIA COMMUNITIES | PROPERTY PORTFOLIO FY17
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66 properties*
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Established in 2004 – internalised as Ingenia in 2012 and now part of the ASX 300
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Leading provider of affordable seniors living and holiday accommodation
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Over 4,000 residents paying fortnightly rent complemented by, low-risk development and co-located tourism
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Resident rent payments supported by Commonwealth pension and rental assistance
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Board and management team with deep sector experience
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Focus on Lifestyle and Holiday communities – attractive organic growth opportunity supported by roll-up of fragmented industry sector
- Excludes Ingenia's investment in 8 traditional retirement villages (5 held in a joint venture).
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INGENIA COMMUNITIES | PROPERTY PORTFOLIO FY17
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Contents
| Contents | |
|---|---|
| Property portfolio | 3 |
| Ingenia Lifestyle and Holidays | 4 |
| Portfolio overview | 6 |
| Portfolio statistics | 8 |
| Tourism accommodation rates and occupancy | 10 |
| Properties | 12 |
| Ingenia Lifestyle Development | 26 |
| Development pipeline | 27 |
| Sales at 30 June 2017 | 28 |
| Asset Overviews | 30 |
| Ingenia Gardens | 58 |
|---|---|
| Portfolio overview | 60 |
| Portfolio statistics | 62 |
| Properties | 64 |
Information as at 30 June 2017 unless otherwise stated.
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Property portfolio
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Ingenia’s $689 million* property portfolio is dominated by cash yielding assets.
Ingenia Communities is one of Australia's largest owner, operator and developers of seniors rental, lifestyle and holiday communities.
These communities provide an affordable lifestyle for seniors with no DMF or exit fees.
Portfolio (by value)*
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Gardens
(Rental) 21%
79% Key
Lifestyle and Holidays (35)
Lifestyle and
Holiday Communities Gardens (31)
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*Includes Glenwood Lifestyle Resort and Sheldon Caravan Park (both to settle August 2017).
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INGENIA COMMUNITIES | PROPERTY PORTFOLIO FY17
INGENIA LIFESTYLE AND HOLIDAYS
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INGENIA COMMUNITIES | PROPERTY PORTFOLIO FY17
Ingenia Lifestyle and Holidays
The Portfolio provides affordable seniors accommodation through a land-lease rental model complemented by holiday experiences, catering largely to seniors and families
The Portfolio has expanded rapidly, providing exposure to a growing market with stable cash flows and growing development returns
Ingenia’s focus is on increasing scale and enhancing returns through the Group's rapidly expanding development business Following additional acquisitions in 2017, Ingenia's Lifestyle and Holidays Portfolio has a value of $547.7 million
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INGENIA COMMUNITIES | PROPERTY PORTFOLIO FY17
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Portfolio overview
Rental revenue (FY17) $45.0 million
| 30 June 20171 | 30 June 2016 | |
|---|---|---|
| Total properties Total permanent sites Total annual sites Total tourism sites Potential development sites2 |
35 | 26 |
| 2,564 | 1,620 | |
| 909 | 640 | |
| 2,174 | 1,449 | |
| 2,473 | 1,484 |
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Includes Glenwood Lifestyle Resort and Sheldon Caravan Park.
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Includes new and recycled permanent and tourism sites, and optioned and contracted assets.
Rapid growth in rental income sites
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The Portfolio is concentrated in metropolitan and coastal areas
Portfolio location (by value)
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Regional
7%
Regional
8%
Metro
40%
Metro
40%
2017 2016
Coastal Coastal
53% 51%
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Note: Includes acquisitions yet to settle.
Average weekly rent (permanent home)
| 30 June 2017 | $160 per week | ||
|---|---|---|---|
| Average site rent (annuals) | |||
| 30 June 2017 | $101 per week |
Note: June 2017 includes Sheldon Caravan Park (to settle August 2017).
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INGENIA’S FOCUS IS ON CONTINUED GROWTH THROUGH OPERATIONAL EXCELLENCE AND LOW-RISK PROFITABLE DEVELOPMENT
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Portfolio statistics: Ingenia Lifestyle and Holidays
Development assets
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Tourism
Acquisition Asset Occupied
Property Date Value ($m) Permanent Sites Annuals Cabins Sites Total
Ingenia Albury Aug 2013 $6.8 33 – 21 26 80
Ingenia Mudgee Oct 2013 $6.8 30 – 33 40 103
Ingenia Lifestyle Chain Valley Bay Dec 2013 $5.1 32 – – – 32
Ingenia Hunter Valley Feb 2014 $11.3 21 – 19 15 55
Ingenia Lifestyle Chambers Pines Mar 2015 $28.8 219 – – – 219
Ingenia Lifestyle Bethania [1] Jul 2015 $20.5 77 – – – 77
Ingenia Lifestyle Lara Oct 2015 $18.3 97 – – – 97
Ingenia Lifestyle South West Rocks Feb 2016 $9.6 74 4 24 122 224
Ingenia Lifestyle Latitude One Dec 2016 $13.8 – – – – –
– – – – –
Glenwood Lifestyle Resort Aug 2017 $7.8
Total $128.8 583 4 97 203 887
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Note: Development assets are not currently generating stable passing yields as they are impacted by development, including disruption to tourism, removal of income producing sites and subscale.
- Includes land at Radke Road acquired Jan 2017.
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Portfolio statistics:
Mature assets
Ingenia Lifestyle and Holidays
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Tourism
Asset
Property Acquisition Date Value ($m) Permanent Sites Annuals Cabins Sites Total
Ingenia Lifestyle The Grange Mar 2013 $15.7 152 – – – 152
Ingenia Lifestyle Ettalong Beach Apr 2013 $6.0 116 – – – 116
Ingenia Nepean River Aug 2013 $13.9 102 – 36 14 152
Ingenia Mudgee Valley Sept 2013 $3.6 28 – 30 16 74
Ingenia Kingscliff Nov 2013 $12.5 109 – 19 61 189
Ingenia Lifestyle Lake Macquarie Nov 2013 $6.8 84 – – – 84
Ingenia Holidays One Mile Beach Dec 2013 $14.8 2 49 62 121 234
Ingenia Holidays Sun Country Apr 2014 $9.3 36 204 18 – 258
Ingenia Lifestyle Stoney Creek May 2014 $21.0 224 – – – 224
Ingenia Lifestyle Rouse Hill Jun 2014 $18.5 118 – – – 118
Ingenia Holidays White Albatross Dec 2014 $28.5 134 – 60 105 299
Ingenia Holidays Noosa Feb 2015 $16.8 50 – 30 107 187
Ingenia Holidays Lake Macquarie Apr 2015 $8.0 12 47 22 41 122
Ingenia Sydney Hills Apr 2015 $15.4 68 – 25 45 138
Ingenia Holidays Lake Conjola Sept 2015 $32.5 – 278 36 59 373
Ingenia Holidays Soldiers Point Oct 2015 $13.0 22 20 29 47 118
Ingenia Holidays Broulee Mar 2016 $6.5 – 37 29 58 124
Ingenia Holidays Ocean Lake Aug 2016 $8.9 42 126 24 58 250
Ingenia Holidays Hervey Bay Oct 2016 $9.7 17 – 28 110 155
Ingenia Holidays Avina Oct 2016 $35.2 85 – 56 65 206
Ingenia Holidays Blueys Beach Jan 2017 $7.5 34 142 2 10 188
Ingenia Holidays Cairns Coconut Mar 2017 $51.3 55 – 121 196 372
Ingenia Holidays Bonny Hills May 2017 $13.5 – 2 39 51 92
Ingenia Lifestyle Durack Gardens Jun 2017 $25.0 250 – – 9 259
Sheldon Caravan Park Aug 2017 $25.0 241 – 23 12 276
Total $418.9 1,981 905 689 1,185 4,760
PORTFOLIO TOTAL $547.7 2,564 909 786 1,388 5,647
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Note: The mature portfolio is not currently subject to development which is disruptive to operations – assets held for the full year are generating stable yields of more than 9% on purchase price. Note: Capitalisation rates range from 7.46% – 14.0%.
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Tourism accommodation – rates and occupancy
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Self Contained Caravan and Camping
Ingenia Holidays Average Average
Property Name Location Sites Occupancy Daily Rate Sites Occupancy Daily Rate
Ingenia Mudgee Mudgee, NSW 33 39% $84 40 38% $32
Ingenia Hunter Valley Cessnock, NSW 19 69% $147 26 68% $49
Ingenia Mudgee Valley Mudgee, NSW 30 51% $82 16 33% $34
Ingenia Nepean River Penrith, NSW (Sydney) 36 75% $123 14 80% $34
Ingenia Holidays One Mile Beach Anna Bay, NSW 62 51% $166 121 37% $52
Ingenia Holidays White Albatross Nambucca Heads, NSW 60 65% $135 105 49% $49
Ingenia Kingscliff Kingscliff, NSW 19 58% $89 61 61% $32
Ingenia Holidays Sun Country Mulwala, NSW 18 36% $108 – – –
Ingenia Albury Albury, NSW 21 49% $76 26 60% $26
Ingenia Holidays Noosa Noosa, QLD 30 60% $104 107 51% $45
Ingenia Holidays Lake Macquarie Lake Macquarie, NSW 22 60% $155 41 33% $48
Ingenia Sydney Hills Dural, NSW (Sydney) 25 67% $116 45 77% $37
Ingenia Holidays Lake Conjola Lake Conjola, NSW 36 58% $188 59 39% $52
Ingenia Holidays Soldiers Point Soldiers Point, NSW 29 58% $194 47 48% $64
Ingenia South West Rocks South West Rocks, NSW 24 59% $127 122 33% $53
Ingenia Holidays Broulee Broulee, NSW 29 40% $162 58 30% $59
Ingenia Holidays Ocean Lake Wallaga Lake, NSW 24 32% $131 58 22% $35
Ingenia Holidays Hervey Bay Torquay, QLD 28 41% $114 110 34% $38
Ingenia Holidays Avina Vineyard, NSW (Sydney) 56 46% $169 65 51% $38
Ingenia Holidays Blueys Beach Blueys Beach, NSW 2 21% $60 10 22% $32
Ingenia Holidays Bonny Hills Bonny Hills, NSW 39 43% $206 51 65% $56
Ingenia Holidays Cairns Coconut Woree, QLD 121 41% $357 196 16% $200
Durack Gardens Durack, QLD – – – 9 46% 68
TOTAL/AVERAGE – TOURISM SITES 763 53% $141 1,387 43% $46
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Note: Figures represent average daily rates and occupancy from the period owned to 30 June 2017.
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Ingenia Holidays Cairns Coconut, QLD
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ALBURY – Lavington, NSW
Ingenia Albury (formerly known as Albury Citygate Caravan and Tourist Park), is located in Albury. The community offers a mix of permanent homes as well as cabin, caravan and camping accommodation. New permanent homes are being added as part of the current development.
Asset Strategy
Ingenia’s focus is on maximising returns through the addition of new permanent homes and the separation of the tourism and permanent precincts. The Group is presently assessing converting the entire community into permanent homes. See page 47 for further information on the development.
| the development. | |
|---|---|
| Acquired | August 2013 |
| Title | Freehold |
| Site area | 8.6 hectares |
| No. sites (permanent) | 33 |
| No. sites (tourism) | 47 |
| Annual sites | – |
| Dev. sites | 71 (approved) |
AVINA – Vineyard, NSW (Sydney)
Located 50 km from the Sydney CBD in Vineyard, NSW, Ingenia Holidays Avina (formerly Avina Van Village) sits within the North West Growth corridor and is a large mixed-use community offering tourism and permanent accommodation. The acquisition includes 14.4 hectares of land that is proposed to be developed into a brand new community offering quality affordable housing for local seniors. The existing community includes permanent homes as well as a range of tourism accommodation and facilities.
Asset Strategy
Ingenia’s focus is on securing a DA for the development of 247 new homes with associated community facilities on acquired land adjacent to the existing community. A DA has been lodged for this expansion, which sits in close proximity to the NSW Government’s planned large scale Vineyard development. See page 57 for further information on the development.
| on the development. | |
|---|---|
| Acquired | October 2016 |
| Title | Freehold |
| Site area | 5.1 ha (existing) |
| 14.4 ha (vacant land) | |
| No. sites (permanent) | 85 |
| No. sites (tourism) | 121 |
| Annual sites | – |
| Dev. sites | 247 (STA) |
BETHANIA – Bethania, QLD (Brisbane)
Ingenia Lifestyle Bethania is located approximately 30 kilometres from the Brisbane CBD. Bethania is a modern community with 77 occupied homes across three stages already in place. The community includes a bowling green, library, games room, barbeque, garden areas, pool and heated spa, as well as 31 DA approved sites. A DA has been approved for an additional 188 sites on adjacent land.
Asset Strategy
Ingenia’s focus is on developing the remaining stages in the existing community and expanding the community on adjacent land. See page 39 for further information.
| Acquired | July 2015 |
|---|---|
| Title | Freehold |
| Site area | 7.8 hectares |
| Adjoining land | 7.1 hectares |
| No. sites (permanent) | 77 |
| No. sites (tourism) | – |
| Annual sites | – |
| Dev. sites | 219 (approved) |
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BLUEYS BEACH – Blueys Beach, NSW
Located on the NSW Mid North Coast, Ingenia Holidays Blueys Beach is a mixeduse community located at Blueys Beach. The accommodation includes over 180 annual and permanent sites and an additional 25 sites with approval for new permanent homes. There is also potential to add 20 – 30 new homes (subject to approvals) on adjacent land that forms part of the community.
Asset Strategy
Ingenia’s initial focus is on developing the 20 – 30 new homes with approvals already in place. Longer term there is the potential to develop addition new homes on vacant land.
Acquired January 2017 Title Freehold Site area 7.4 ha (existing) No. sites (permanent) 34 No. sites (tourism) 12 Annual sites 142 Dev. sites 25 (approved) 25 (STA)
BONNY HILLS – Bonny Hills, NSW
Located on 3.4 hectares, Ingenia Holidays Bonny Hills enjoys a beachfront location at Rainbow Beach with close proximity to popular tourist attractions.
Only 20 minutes south of Port Macquarie, NSW BIG4 Bonny Hills provides a range of facilities including swimming pool, splash park, mini golf, jumping cushion, karts and table tennis.
Asset Strategy
Ingenia’s focus is on maximising performance through strong management and the opportunity to reconfigure accommodation within the existing holiday community.
Acquired May 2017 Title Freehold Site area 3.4 hectares – No. sites (permanent) No. sites (tourism) 90 Annual sites 2
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Jazz Festival at
Ingenia Lifestyle The Grange
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BROULEE BEACH – Broulee, NSW
Located on the South Coast of NSW, Ingenia Holidays Broulee builds Ingenia's presence in the South Coast tourism market.
The Park is located in a quiet residental area location with direct beachfront access, 20 kilometres from Bateman's Bay and approximately 300 kilometres south of Sydney. The Park offers a mix of annual sites and tourism accommodation, including cabins and caravan and camp sites.
Facilities include a playground, jumping pillow, games room and swimming pool.
Asset Strategy
The Park offers reconfiguration potential and the opportunity to further enhance returns through the upgrade and remixing of existing accommodation and facilities.
| Acquired | March 2016 |
|---|---|
| Title | Leasehold |
| (to March 2035) | |
| Site area | 2.4 hectares |
| No. sites (permanent) | – |
| No. sites (tourism) | 87 |
| Annual sites | 37 |
CAIRNS COCONUT – Cairns, QLD
Ingenia Holidays Cairns Coconut was acquired in March 2017. Voted as one of the Top 8 hotels on TripAdvisor in the South Pacific for 2017, Cairns Coconut is Ingenia’s largest tourism park, with tourism and permanent sites. The location in North Queensland’s prime tourism region, just 7km from Cairns extends Ingenia’s tourism footprint into an attractive tourism market with strong winter occupancy, smoothing seasonality across the tourism business.
Asset Strategy
Ingenia plans to add new cabins to the community which has a wide range of facilities (including three swimming pools, a splash park, jumping pillows, mini golf, a camp kitchen, gym, outdoor cinema and tennis court) along with easy access to public transport buses running to Cairns CBD every 30 minutes.
| Acquired | March 2017 |
|---|---|
| Title | Freehold |
| Site area | 11 hectares |
| No. sites (permanent) | 55 |
| No. sites (tourism) | 317 |
| Annual sites | – |
CHAMBERS PINES – Chambers Flat, QLD (Brisbane)
Ingenia Lifestyle Chambers Pines is located approximately 30 kilometres from Brisbane and is close to Ingenia Lifestyle Bethania. The community includes established lifestyle homes with facilities including swimming pool, community centre and bowling green. In addition, the asset has a separate rental precinct.
Asset Strategy
With development of the DA approved sites within the established permanent living precinct now complete, Ingenia is increasing the number of high yielding rental units and has commenced the development of 256 new homes on a former adjoining golf course. See page 34 for further information.
| information. | |
|---|---|
| Acquired | March 2015 |
| Title | Freehold |
| Site area | 15.9 hectares |
| No. sites (permanent) | 219 |
| Annual sites | – |
| Dev. sites | 244 (approved) |
(Includes park owned units rented on a standard residential lease)
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CHAIN VALLEY BAY – Chain Valley Bay, NSW Formerly known as Macquarie Lakeside, Ingenia Lifestyle Chain Valley Bay is situated on the shores of Lake Macquarie, close to Newcastle. This waterfront location is being converted from largely a holiday park into a new permanent living community.
Asset Strategy
Ingenia is developing this waterfront location to create a new boutique community. A development is currently underway with new homes being sold and refurbished community facilities in place. A DA has been lodged for 12 additional homes. See page 43 for further information.
Acquired December 2013 Title Freehold Site area 1.6 hectares No. sites (permanent) 32 – No. sites (tourism) Annual sites – Dev. sites 12 (STA)
DURACK GARDENS – Durack, QLD
Durack Gardens, located approximately 15 kilometres south west of the Brisbane CBD, is a rental community located on 9.5 hectares of freehold land. Durack Gardens enjoys an excellent location with close proximity to transport and amenities, including retail and medical facilities.
Asset Strategy
Ingenia’s focus is on maximising returns from this well-established community through reconfiguration and developing additional homes for rent.
Acquired June 2017 Title Freehold Site area 9.5 hectares No. sites (permanent) 250 No. sites (tourism) 9 Annual sites – Dev. Sites 49 (STA)
ETTALONG BEACH – Ettalong Beach, NSW
On the idyllic Central Coast in the seaside village of Ettalong, Ingenia Lifestyle Ettalong Beach is within the Gosford region. Ettalong Beach is approximately one hour’s drive from Sydney and four kilometres from Woy Woy. Facilities include a resort style swimming pool and community centre and is located just 300 metres from the beach.
Asset Strategy
Since acquisition Ingenia has converted tourism sites and vacant land to 31 new permanent home sites, creating a dedicated permanent living community with new facilities.
Acquired April 2013 Title Leasehold (to June 2029) Site area 3.1 hectares No. sites (permanent) 116 – No. sites (tourism) Annual sites –
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GLENWOOD LIFESTYLE RESORT – Woolgoolga, NSW
Located in the seaside town of Woolgoolga, approximately 25 kilometres north of Coffs Harbour, this DA approved site, currently known as Glenwood Lifestyle Resort, comprises 19.5 hectares of land.
With close proximity to the beach and a rural aspect to the west, the site is located in an attractive area for retirees.
Asset Strategy
Ingenia’s focus is on creating a large scale, high quality lifestyle community comprising 196 new homes and with community facilities including a clubhouse, pool, tennis court and bowling green.
| Acquired | August 2017 |
|---|---|
| Title | Freehold |
| Site area | 19.5 hectares |
| No. sites (permanent) | – |
| No. sites (tourism) | – |
| Annual sites | – |
| Dev. Sites | 196 (approved) |
HERVEY BAY – Torquay, QLD
Idyllically located in Hervey Bay on the Queensland Fraser Coast, a scenic 3 ½ hours drive north of Brisbane, Ingenia Holidays Hervey Bay (formerly Happy Wanderer Caravan Park) establishes a new cluster in a strong tourism and retiree location. Accommodation includes caravan and camping sites, cabins, villas and a vast array of amenities including three pools, a heated spa, children’s playground areas, BBQ and picnic areas located in Australia’s premier whale watching location.
Asset Strategy
Ingenia’s focus is on optimising performance of this established asset through upgrading of the existing accommodation offering and enhancing the site’s profile.
| Acquired | October 2016 |
|---|---|
| Title | Freehold |
| Site area | 3.0 hectares |
| No. sites (permanent) | 17 |
| No. sites (tourism) | 138 |
| Annual sites | – |
HUNTER VALLEY – Cessnock, NSW
Ingenia Hunter Valley (formerly BIG4 Valley Vineyard) is a mixed-use community providing permanent living and tourist accommodation. Located in the Hunter Valley, the community includes a jumping pillow, pool and spa as well as a kitchen and barbeque area. A new community centre and new homes have been added as part of the current development.
Asset Strategy
Ingenia’s focus is to create a boutique lifestyle community in the rear of the site and a revitalised holiday offering at the front and new DA approved permanent homes as part of an expansion of the permanent living precinct with upgraded facilities. See page 44 for further information.
| information. | |
|---|---|
| Acquired | February 2014 |
| Title | Freehold |
| Site area | 4 hectares |
| No. sites (permanent) | 21 |
| No. sites (tourism) | 34 |
| Annual sites | – |
| Dev. sites | 40 (approved) |
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KINGSCLIFF – Kingscliff, NSW
Ingenia Kingscliff (formerly known as Drifters Holiday Village), is located between the Tweed River and Kingscliff Beach on 10 acres of green open space. The community includes both permanent homes and short-term accommodation with access to a range of water based leisure activities.
Asset Strategy
Ingenia’s focus is on increasing returns through site upgrades and repositioning within the existing community. Longer term there is potential to add approximately 27 additional sites (subject to approvals).
| Acquired | November 2013 |
|---|---|
| Title | Freehold |
| Site area | 4.1 hectares |
| No. sites (permanent) | 109 |
| No. sites (tourism) | 80 |
| Annual sites | – |
| Dev. sites | 27 (STA) |
LAKE CONJOLA – Lake Conjola, NSW
Located on 21 hectares on the NSW South Coast, Ingenia Holidays Lake Conjola is in a prime lake front location approximately three hours south of Sydney. The Park is recognised as the premier tourist park on the NSW South Coast. Since acquisition, Ingenia has added additional tourism cabins and a new annuals product and has received approval for the addition of 114 new homes on existing vacant land.
Asset Strategy
Ingenia is expanding the annual and tourism offering and has approval to add a sizeable permanent living precinct. See page 52 for further information on the development.
Acquired September 2015 Title Freehold Site area 21 hectares – No. sites (permanent) No. sites (tourism) 95 Annual sites 278 Dev. sites 114 (approved)
LAKE MACQUARIE – Morisset, NSW
Ingenia Lifestyle Lake Macquarie is located in close proximity to Lake Macquarie and nearby Ingenia Lifestyle The Grange.
The community was initially expanded with the addition of 32 new homes and stage 2 (15 homes) is now complete. A new clubhouse, entry and infrastructure upgrades were added as part of the Stage 2 works.
Asset Strategy
Originally acquired as a mixed-use Park, a significant development has added 47 new homes and a new community facility. The development increases the community's rental base and has also provided attractive development returns. See page 32 for further information on the development.
Acquired November 2013 Title Freehold Site area 2.9 hectares No. sites (permanent) 84 – No. sites (tourism) Annual sites – Dev. sites 20 (STA)
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LARA – Lara, VIC
Representing Ingenia’s first lifestyle community in Victoria, Ingenia Lifestyle Lara is a partially developed land lease community approximately 60 kilometres west of Melbourne. The community was acquired with 56 sold homes, a further 13 unsold homes, premium community facilities and the potential to develop 164 new homes.
LATITUDE ONE – Port Stephens, NSW
Latitude One is the first Greenfield project now under development. The fully approved site, located in Port Stephens, was acquired in December 2016.
The 29.2 hectare master planned site will include 229 new homes and high quality community facilities. The new community is within an established cluster with strong demographic fundamentals.
MANNERING PARK, NSW
Ingenia Holidays Lake Macquarie sits on the shores of Lake Macquarie, close to amenities including shopping, dining options and medical facilities. Operating as a mixed-use park, the community includes a small number of permanent sites with facilities including a camp kitchen, play area, barbeque and pool. Part of the site is zoned for medium density housing.
Asset Strategy
Since acquisition Ingenia’s focus has been repositioning the community, including improving presentation and enhancing new home design while selling down 13 already completed homes. Ingenia is now well progressed with the final stages of the development. See page 36 for further information on the development.
| Acquired | October 2015 |
|---|---|
| Title | Freehold |
| Site area | 8.3 hectares |
| No. sites (permanent) | 97 |
| No. sites (tourism) | – |
| Annual sites | – |
| Dev. sites | 107 (approved) |
Asset Strategy
Ingenia is developing the 229 new homes in stages, with the community facilities to be complete in line with the first stage of homes. See page 54 for further information on the development.
| Acquired | December 2016 |
|---|---|
| Title | Freehold |
| Site area | 29.2 hectares |
| No. sites (permanent) | – |
| No. sites (tourism) | – |
| Annual sites | – |
| Dev. sites | 229 (approved) |
Asset Strategy
Ingenia’s focus is maximising returns from the existing operations and continuing to drive high levels of occupancy across the tourist accommodation. Longer term there is potential to enhance returns through adding additional holiday or annual sites.
| Acquired | April 2015 |
|---|---|
| Title | Freehold |
| Site area | 3.3 hectares |
| No. sites (permanent) | 12 |
| No. sites (tourism) | 63 |
| Annual sites | 47 |
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MUDGEE – Mudgee, NSW
Ingenia Mudgee (formerly Mudgee Tourist and Van Resort) is located in picturesque Mudgee close to wineries, gourmet food markets and national parks. On 6.8 hectares, the community offers a mix of holiday and workforce accommodation as well as permanent homes.
Asset Strategy
Ingenia is currently undertaking a
redevelopment which will see new permanent homes added to the site in a new precinct, clearly separated from the holiday and workforce accommodation.
Acquired October 2013 Title Freehold Site area 6.8 hectares No. sites (permanent) 30 No. sites (tourism) 73 Annual sites – Dev. sites 54 (approved)
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Ingenia Lifestyle Chambers Pines
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MUDGEE VALLEY – Mudgee, NSW
Ingenia Mudgee Valley is located in North West Mudgee, close to the Mudgee Town centre. The community includes both permanent sites and a mix of short-term accommodation, including cabins and caravan and camping sites.
Asset Strategy
Ingenia’s master plan for the site includes the addition of new permanent homes with associated facilities as well as a separation of the permanent living and tourism precincts of this 4.3 hectare site.
Acquired September 2013 Title Freehold Site area 4.3 hectares No. sites (permanent) 28 No. sites (tourism) 46 Annual sites – Dev. sites 43 (approved)
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NEPEAN RIVER – Emu Plains, NSW
Ingenia Nepean River is located at the base of the Blue Mountains, close to Penrith and 60 km west of the Sydney CBD. A mixed-use community, Ingenia Nepean River provides a range of holiday accommodation as well as permanent homes.
Asset Strategy
Ingenia’s focus is on maximising returns through optimising tourism revenues and the addition of a limited number of new permanent homes.
Acquired August 2013 Title Freehold Site area 3.9 hectares No. sites (permanent) 102 No. sites (tourism) 50 Annual sites – Dev. sites 10 (STA)
NOOSA – Tewantin, QLD
Ingenia Holidays Noosa (formerly Noosa Bougainvillia Holiday Park) is located on the popular Sunshine Coast. The community provides permanent homes and a range of short-term accommodation, including cabins and caravan and camping sites. The 6.5 hectare site includes on-site retail, a freehold petrol station, a cafe and a range of facilities including two swimming pools, jumping castle, games room and camp kitchen.
Asset Strategy
Ingenia’s focus is on enhancing returns through yield optimisation and, over time, the potential reconfiguration of the existing tourism offer.
Acquired February 2015 Title Freehold Site area 6.5 hectares No. sites (permanent) 50 No. sites (tourism) 137 Annual sites –
ONE MILE BEACH – One Mile, NSW
Ingenia Holidays One Mile Beach is nestled in 5.5 hectares of native bushland close to Port Stephens and is one of the most iconic beachfront tourist parks in NSW. Located 30 minutes north of Newcastle, this beachfront park includes beach houses, quality cabins, caravan and camping sites and annual sites. Park facilities include a pool, jumping cushion, tennis court, cafe and multiple camp kitchens.
Asset Strategy
The Group is currently progressing plans for a comprehensive refurbishment and upgrade of the park to maximise returns from its beachfront location.
Acquired December 2013 Title Leasehold Site area Perpetual – 4.4ha Sept 2031 – 1.1ha No. sites (permanent) 2 No. sites (tourism) 183 Annual sites 49
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OCEAN LAKE – Wallaga Lake, NSW
Located on the South Coast of NSW, Ingenia Holidays Ocean Lake is a large waterfront community that includes permanent homes, and a strong holiday and tourism offer. The accommodation is dominated by permanent and annual sites, which underpin stable returns. In addition, the tourist accommodation includes cabins and camp sites with facilities including a playground, BBQ facilities and private boat ramp catering to a range of water activities.
Asset Strategy
Ingenia’s focus is on improving the performance of this attractive asset to enhance returns.
Acquired
Acquired August 2016 Title Freehold Site area 8.4 hectares No. sites (permanent) 42 No. sites (tourism) 82 Annual sites 126
ROUSE HILL, NSW
Ingenia Lifestyle Rouse Hill (formerly the OK Caravan Park) is located in Sydney’s NorthWest growth corridor. The surrounding area is experiencing rapid population, infrastructure and services growth with significant private and public investment, including a new train line located close to this community.
Asset Strategy
The site is zoned for medium density residential. Ingenia has lodged a DA for 294 apartments to convert the park into medium density residential, and plans to sell the site to realise value and recycle capital.
| Acquired | June 2014 |
|---|---|
| Title | Freehold |
| Site area | 3.7 hectares |
| No. sites (permanent) | 118 |
| No. sites (tourism) | – |
| Annual sites | – |
SHELDON – Sheldon, QLD
Sheldon Caravan Park is located approximately 15 kilometres south of Brisbane adjacent to Westfield Garden City and in close proximity to a major transport corridor and the CBD.
Asset Strategy
Ingenia’s focus is on maximising returns from this well-established community. The community is dominated by park owned rental homes which provide long term optionality. Ingenia has lodged a DA with Brisbane City Council for an additional 49 rental cabins.
| Acquired | August 2017 |
|---|---|
| Title | Freehold |
| Site area | 5.8 hectares |
| No. sites (permanent) | 241 |
| No. sites (tourism) | 35 |
| Dev. sites | 49 (STA) |
(Includes park owned units rented on a standard residential lease)
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SOLDIERS POINT – Soldiers Point, NSW Ingenia Holidays Soldier's Point is located in a prime tourism location approximately two and a half hours north of Sydney within the established Hunter/Newcastle cluster. Ingenia Holidays Soldiers Point offers a mix of permanent sites and tourism accommodation and has potential for further development.
The Community is adjacent to the Soldiers Point Bowling Club, providing access to a range of facilities, entertainment and dining options.
Asset Strategy
With the ability to increase the number of operating sites to 136, Ingenia plans to improve returns through the improvement of the tourism offer and the development of new sites, and has already added new cabins to the Community.
| Acquired | October 2015 |
|---|---|
| Title Site area |
Freehold 2.8 hectares |
| No. sites (permanent) | 22 |
| No. sites (tourism) | 76 |
| Annual sites | 20 |
SOUTH WEST ROCKS – South West Rocks, NSW
Located in a popular tourist destination on the NSW Mid North Coast, Ingenia South West Rocks is a premium mixed-use community which includes permanent homes and caravan and cabin sites. Located about one hour's drive north of Port Macquarie, facilities include a camp kitchen and barbeque areas, children’s playground and pool. Ingenia is negotiating with Council to secure a new 30 year lease.
Asset Strategy
Ingenia plans to add a further 32 new homes. In addition, Ingenia will reconfigure the tourism offer to convert lower yielding camp sites to ensuite caravan sites or cabin sites and will invest selectively to improve the accommodation and facilities as part of a repositioning of the Park. See page 41 for further information on the development.
Acquired February 2016 Title Leasehold (to September 2026) Site area 9.5 hectares No. sites (permanent) 74 No. sites (tourism) 146 Annual sites 4 Dev. sites 27 (approved) 5 (STA)
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STONEY CREEK – Marsden Park, NSW
Ingenia Lifestyle Stoney Creek sits within the Sydney cluster, in the suburb of Marsden Park. Stoney Creek, which is rapidly being redeveloped, is close to shopping and local amenities in a Local Government Area that is expected to be home to over 120,000 new residents in the next 15 years.
SUN COUNTRY – Mulwala, NSW
Ingenia Holidays Sun Country is a long established lifestyle and holiday park located opposite Lake Mulwala, a popular holiday and retirement destination for Melburnians. The community includes over 200 privately owned annual holiday cabins which provide a strong secure recurrent rental income as they are leased out on a long-term basis.
SYDNEY HILLS – Dural, NSW
Ingenia Sydney Hills is located in the Hills district, approximately 40 minutes from the Sydney CBD. A mixed-use community with both permanent and short-term accommodation, Sydney Hills is conveniently located close to shops and amenities in an area experiencing rapid growth and significant investment.
Asset Strategy
Ingenia has now completed a significant repositioning, which includes improving the overall amenity of the community, upgrading community facilities and converting tourism and older homes to new affordable housing. A DA is being prepared for an additional 37 sites on currently vacant land. See page 31 for further information on the development.
| Acquired | May 2014 |
|---|---|
| Title | Freehold |
| Site area | 12.1 hectares |
| No. sites (permanent) | 224 |
| No. sites (tourism) | – |
| Annual sites | – |
| Dev. sites | 37 (STCA) |
Asset Strategy
Ingenia is assessing the opportunity to develop a further 107 permanent sites under existing approvals.
| Acquired | April 2014 |
|---|---|
| Title | Freehold |
| Site area | 17.1 hectares |
| No. sites (permanent) | 36 |
| No. sites (tourism) | 18 |
| Annual sites | 204 |
| Dev. sites | 107 (approved) |
Asset Strategy
Ingenia is focused on optimising returns from the existing operations and has added a child care facility. The community is located in a growing residential area and has available land to accommodate 15 new homes.
| Acquired | April 2015 |
|---|---|
| Title | Freehold |
| Site area | 4.2 hectares |
| No. sites (permanent) | 68 |
| No. sites (tourism) | 70 |
| Annual sites | – |
| Dev. sites | 15 (STCA) |
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INGENIA COMMUNITIES | PROPERTY PORTFOLIO FY17
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THE GRANGE – Morisset, NSW
Located just 1.5 kilometres from the Morisset township, local amenities and the Morisset train station, Ingenia Lifestyle The Grange is a resort style land lease community dedicated to affordable seniors living. Development of 56 new homes and upgraded community facilities commenced in 2017, with a new clubhouse now complete.
Asset Strategy
Since acquisition, Ingenia has grown returns through the addition of new homes on ‘infill’ sites. Works are underway to add 56 new homes and provide new community facilities. See page 49 for further information on the development.
| Acquired | March 2013 |
|---|---|
| Title | Freehold |
| Site area | 8.8 hectares |
| No. sites (permanent) | 152 |
| No. sites (short-term) | – |
| Annual sites | – |
| Dev. sites | 56 (approved) |
WHITE ALBATROSS – Nambucca Heads, NSW
Ingenia Holidays White Albatross is situated on a prime waterfront location in beautiful coastal surrounds at Nambucca Heads on the NSW Mid North Coast. White Albatross is a large mixeduse community which offers permanent living and a range of short-term accommodation as well as facilities including pool, children’s playground, cafe, barbeques, camp kitchen and a jumping pillow.
Asset Strategy
Ingenia’s focus is on maintaining the existing operations and driving stronger revenues from short-term accommodation. Longer term there is the potential to enhance returns through reconfiguration of the existing accommodation mix.
Acquired December 2014 Title Freehold Site area 5.3 hectares No. sites (permanent) 134 No. sites (short-term) 165 Annual sites –
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INGENIA COMMUNITIES | PROPERTY PORTFOLIO FY17
INGENIA LIFESTYLE DEVELOPMENT
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INGENIA COMMUNITIES | PROPERTY PORTFOLIO FY17
Development pipeline
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Remaining Dev. Sites Total Potential FY17 1H18 FY18 1H19 FY19 FY20
Cluster/Community Approved Dev. Sites Requiring Approval Dev. Sites
Hunter/Newcastle
The Grange, NSW 56 – 56
Chain Valley Bay, NSW – 12 12
Hunter Valley, NSW 40 – 40
Latitude One, NSW 229 – 229
Lake Macquarie, NSW – 20 20
North Coast
South West Rocks, NSW 27 5 32
Kingscliff, NSW – 27 27
Blueys Beach, NSW 25 25 50
Glenwood Lifestyle Resort, NSW 196 – 196
Central West
Mudgee, NSW 54 – 54
Mudgee Valley, NSW 43 – 43
Sydney Basin
Avina, NSW – 247 247
Sydney Hills, NSW – 15 15
Stoney Creek, NSW – 37 37
Nepean River, NSW – 10 10
South West
Albury, NSW 71 – 71
Sun Country, NSW 107 – 107
South Coast
Lake Conjola, NSW 114 – 114
Brisbane
Bethania, QLD 219 – 219
Chambers Pines, QLD 244 – 244
Upper Coomera [1] , QLD – 235 235
Durack Gardens, QLD – 49 49
Sheldon Caravan Park, QLD [1] – 49 49
Fraser Coast
Hervey Bay [1] , QLD – 210 210
Victoria
Lara, VIC 107 – 107
TOTAL PORTFOLIO 1,532 941 2,473
Note: Excludes sites approved for tourism. Includes sites for rental homes. 1. Under Contract or option. Note: Timeframes are indicative and subject to change.
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INGENIA COMMUNITIES | PROPERTY PORTFOLIO FY17
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Deposits and contracts in place for 135 homes at 30 June 2017
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New Other Available Homes Under
FY17 Settlements Settlements Deposited [1] Contracted Completed Stock [2] Construction
Ingenia Lifestyle Lake Conjola – 2 23 – – 2
Lake Conjola
Ingenia Lifestyle Lake Macquarie – – – –
15 3
Morisset
Ingenia Lifestyle Stoney Creek 64 4 1 4 – –
Marsden Park
Ingenia Lifestyle Chambers Pines
13 1 8 2 6 7
Chambers Flat
Ingenia South West Rocks 17 – 23 8 – 9
South West Rocks
Ingenia Lifestyle Bethania 22 – 9 3 21 4
Bethania
Ingenia Albury 11 – 10 2 3 –
Lavington
Ingenia Lifestyle Lara 34 – 2 15 2 11
Lara
Ingenia Hunter Valley 11 – 1 3 2 4
Cessnock
Ingenia Lifestyle Chain Valley Bay 22 – 8 5 2 7
Chain Valley Bay
Ingenia Lifestyle The Grange 1 8 7 – – 6
Morisset
Ingenia Mudgee 1 – 1 – 4 –
Mudgee
Other – 2 – – – 1
TOTAL PORTFOLIO 211 20 93 42 40 51
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-
Includes First Choice Club deposits for projects/stages yet to be released.
-
Excludes Display Homes, Staff site offices and refurbished homes.
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INGENIA COMMUNITIES | PROPERTY PORTFOLIO FY17 29
Stoney Creek
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Ingenia Lifestyle Stoney Creek
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The conversion and upgrade of this former Western Sydney caravan park into an affordable over 50s residential community is almost complete.
The project now only has one home left to sell, with 122 new homes delivered, 117 settled and 5 currently deposited or contracted as at 30 June 2017.
A new entry statement has been installed and significant new landscaping established. In December 2016 a DA was approved for new community facilities, including a community and wellness centre, BBQ and pool, which are currently under construction.
There is potential to add a further 37 homes on vacant land (subject to approvals).
Upon completion and subject to final Council approvals, Stoney Creek will comprise over 240 homes in one of Sydney's fastest growing residential corridors.
The community offers a range of home configurations with the majority of the homes comprising 2 and 3 beds, 1.5 bath homes with single carports.
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Ingenia Lifestyle Lake Macquarie
Ingenia acquired this mixed-use community in November 2013 with plans to convert the village to a pure residential community.
In November 2015 an application was lodged with Council to convert existing tourism and short-term rental accommodation into 15 new premium over 50's homes. Council approval was received in February 2016, paving the way for the creation of new community facilities in conjunction with additional new homes. This final stage commenced in June 2016 and works were complete in December 2016.
The first stage of the development, comprising 32 homes on adjacent land, was sold out in April 2016. The majority of the 15 Stage 2 homes have now been sold.
Investigations are underway for a final stage of up to 20 homes.
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INGENIA LIFESTYLE
MASTER PLAN
Lake Macquarie
Future Development
Precinct
(sold out)
(sold out)
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Ingenia Lifestyle Chambers Pines
Chambers Pines is one of Ingenia's key growth projects and is forecast to be a major driver of new home sales over the next five years.
Chambers Pines comprises both an affordable over 50's residential home community and an all ages rental village with many value levers. Since acquisition in March 2015, Ingenia has deposited, contracted or settled 42 homes. In addition, new rental units have been added to the all ages rental village.
golf course. Works commenced in September 2016, with the first homes now complete and initial settlements prior to 30 June 2017. Upon completion, Chambers Pines will be one of the largest land lease communities in South East Queensland.
In November 2015, the Group received Council approval to develop an additional 256 homes on land that was occupied by a nine hole
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AERIAL
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Ingenia Lifestyle Lara
Ingenia Lifestyle Lara is one of Ingenia's key projects. Lara is centred around premium community facilities that include a $3.5 million club house.
Since acquisition Ingenia has construction access road upgrades, and improved the overall presentation of the community.
which draw from Ingenia's standard design suite are being built on site in this growing community.
A total of 34 homes were settled in FY17 with a further 17 homes contracted or deposited at 30 June 2017.
Upon completion, Lara will represent a masterplanned residential community of 233 homes.
The final stage of civil works has commenced and new homes
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MASTER PLAN
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Ingenia Lifestyle Bethania
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Ingenia acquired the community in July 2015. On acquisition the community included 54 completed homes and approval for 76 additional homes.
Site civil works for a further 70 homes will be complete this year, as the first stage homes have been completed and further homes are under construction.
Since acquisition, Ingenia has also acquired two adjoining sites. This land has recently received approval for a further 188 homes on these sites, which will form the later stages of expansion.
Upon completion, Bethania will comprise over 300 homes and be one of Ingenia's and Brisbane's largest lifestyle communities.
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INGENIA COMMUNITIES | PROPERTY PORTFOLIO FY17
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40 INGENIA COMMUNITIES | PROPERTY PORTFOLIO FY17
Ingenia South West Rocks
Ingenia acquired South West Rocks, a mixed-use community located on the NSW Mid North Coast, in February 2016. On acquisition the community included 54 homes, 187 tourism sites and approval for 27 additional new homes.
South West Rocks is a picturesque waterfront location and upon completion will comprise over 100 new homes with a new community facility and a 187 site revitalised tourism park.
Since acquisition, 22 new homes have been delivered to site, new community facilities have been put in place and display homes have been furnished.
Homes comprise a mix of 2, 2.5 and 3 bedrooms.
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Sales have been strong with 17 homes settled in FY17 and 31 homes deposited or contracted at 30 June 2017.
South West Rocks is a key development project for Ingenia in FY18.
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42 INGENIA COMMUNITIES | PROPERTY PORTFOLIO FY17
Ingenia Lifestyle Chain Valley Bay
Civil works, the community centre and landscaping works were complete in May 2016 and the first display homes were complete in June.
In 2015, Ingenia commenced a transformation of this rundown waterfront community, which is now a haven for downsizers wanting to escape and relax by the water.
There are 48 homes which range in price based largely on location and include a Hamptons style theme in keeping with the waterfront location. Homes, are 2 bed and 2 bed plus study. Chain Valley Bay appeals to local buyers seeking a smaller boutique-style community with strong interest also coming from Newcastle. With the premium waterfront homes now all sold, prices range from $270,000 to over $329,000 for new homes on non waterfront lots. Over the past 12 months, 22 homes settled with a further thirteen homes deposited or contracted at 30 June 2017.
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A DA has been lodged for a further 12 permanent homes to replace the remaining decommissioned tourism sites. This will take the total number of homes to 60 in this boutique community.
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INGENIA COMMUNITIES | PROPERTY PORTFOLIO FY17
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Ingenia Hunter Valley
Located on the doorstep of the Hunter Valley vineyards Ingenia Hunter Valley offers an affordable and secure community for downsizers wanting to create a home base.
Ingenia's vision for this former caravan park is to create an integrated mixed-use community comprising 64 affordable over 50's homes and a revitalised tourism park catering to the Hunter Valley's strong short-term accommodation market.
An approval is in place for 64 permanent sites and a new community facility and entry statement.
Construction on the community centre is complete and civil works for the next stage commenced in 2017. New homes sit on lots averaging 185 sqm and comprise spacious 2 and 3 bedroom homes. Homes are for sale from $230,000 to over $300,000.
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MASTER PLAN
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INGENIA COMMUNITIES | PROPERTY PORTFOLIO FY17
INGENIA Albury
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MASTER PLAN
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INGENIA COMMUNITIES | PROPERTY PORTFOLIO FY17
Ingenia Albury
Ingenia's vision for this former caravan park is an integrated mixed-use community comprising affordable over 50's homes and a revitalised tourism park catering to Albury's strong drive-thru and group based tourist market.
In September 2015, Ingenia received final Council approval for the Group's masterplan for this mixed-use park. To date, 28 new homes have been delivered and 23 deposited, contracted or settled with prices ranging from $189,000 to $252,000.
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INGENIA COMMUNITIES | PROPERTY PORTFOLIO FY17
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INGENIA LIFESTYLE The Grange
MASTER PLAN
Stage 1 Release
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INGENIA COMMUNITIES | PROPERTY PORTFOLIO FY17
Ingenia Lifestyle The Grange
Ingenia Lifestyle The Grange was Ingenia’s first acquisition in the lifestyle and holidays portfolio. Since acquisition in 2013 Ingenia has added new homes on infill sites and is now commencing an expansion of this successful community.
Located in Morriset on the NSW Central Coast, and close to Ingenia Lifestyle Lake Macquarie, The Grange now has approval for the addition of 56 new homes now under construction on vacant land.
The development, in addition to offering new homes, includes a new community centre and manager’s residence which were completed in mid 2017.
The early works programme has been completed and major works are underway with the five new display homes now on site.
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Sales will commence in the first half of FY18, with the first settlements over the 2018 financial year
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INGENIA COMMUNITIES | PROPERTY PORTFOLIO FY17
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50 INGENIA COMMUNITIES | PROPERTY PORTFOLIO FY17
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NEW PROJECTS
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Ingenia Holidays Lake Conjola
Ingenia Holidays Lake Conjola, one of the premier tourism parks on the NSW South Coast, was acquired in September 2015. On acquisition Ingenia identified the opportunity to capitalise on this picturesque location to add a separate permanent living precinct.
In August 2016 Ingenia lodged a Development Application for 114 new homes and associated community facilities to be located on land which had originally been used as a nine hole golf course for guests. Council approval was received in April 2017 and construction is scheduled to commence in late 2017.
The new permanent precinct for seniors will be accessed via a separate entry and is expected to appeal to locals and downsizers from Wollongong, Canberra and Sydney.
Initial deposits have already been received for almost two thirds of the first stage of 33 homes.
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INGENIA COMMUNITIES | PROPERTY PORTFOLIO FY17
INGENIA HOLIDAYS Lake Conjola
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MASTER PLAN
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Ingenia Lifestyle Latitude One
Latitude One, a 29.2 hectare site in Port Stephens, is Ingenia's first greenfield development.
Ingenia acquired the site, which had approvals in place for a masterplanned community comprising 229 lifestyle homes and community facilities, in December 2016.
Following approval to build the homes on site, Ingenia commenced works in mid 2017, with on site construction of 30 homes to form part of the first stage of the development along with community facilities. The first settlements are expected to commence towards the end of FY18.
Surrounded by natural beauty, Latitude One is located in Anna Bay, NSW and offers a sea change for over 55s looking to downsize.
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INGENIA COMMUNITIES | PROPERTY PORTFOLIO FY17
INGENIA LIFESTYLE Latitude One
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MASTER PLAN
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INGENIA COMMUNITIES | PROPERTY PORTFOLIO FY17
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INGENIA Avina
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MASTER PLAN
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INGENIA COMMUNITIES | PROPERTY PORTFOLIO FY17
Ingenia Avina
Ingenia Holidays Avina was acquired in October 2016. Comprising an existing 180 site mixed-use community and over 14 hectares of vacant land, the site offers the potential for development of a large-scale permanent community.
A DA was lodged with council for the addition of 247 new home sites and associated community facilities in September 2016.
The DA is expected to go to the Joint Regional Planning Panel (JRPP) for assessment in the second half of 2017.
Since Ingenia acquired the site, the NSW Department of Planning has announced plans for the development of a large-scale community with associated infrastructure upgrades adjacent to the site at Vineyard.
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The development of the first homes is expected to commence in early 2018 (subject to approvals).
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INGENIA GARDENS
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INGENIA COMMUNITIES | PROPERTY PORTFOLIO 2017
Ingenia Gardens
The Ingenia Gardens Portfolio provides affordable seniors rental accommodation, delivering stable, Government supported cashflows
Ingenia’s management team is focused on ensuring residents enjoy living in connected, engaged communities. Ingenia Care, a free service, is a key part of this commitment
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Ingenia’s focus is growing returns through occupancy gains, rental growth and margin enhancement
At 30 June 2017, the Portfolio of 31 Villages had a book value of $141.3 million
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Portfolio overview
Total FY17 revenue $28.0 million
| 30 June 2017 | 30 June 2016 | |
|---|---|---|
| Total properties Total units Av. weekly rent Occupancy |
31 | 31 |
| 1,628 | 1,628 | |
| $330 | $321 | |
| 92.8% | 90.7% |
Ingenia Gardens snapshot
-
Daily resident meals served – 1,930
-
Average resident tenure 3.2 years (record high)
-
92.8% occupancy
INGENIA GARDENS PROVIDES AFFORDABLE ACCOMMODATION AND A RANGE OF COMMUNITY ACTIVITIES
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INGENIA COMMUNITIES | PROPERTY PORTFOLIO FY17
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Ingenia Gardens Taree
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Portfolio statistics: Ingenia Gardens
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Asset Value
30 June 2017 Occupancy Occupancy
Property Location ($m) Total Units 30 June 2017 30 June 2016
Western Australia
Swan View Swan View 7.6 72 100% 89%
Seville Grove Seville Grove 3.7 45 91% 91%
Ocean Grove Mandurah 3.9 45 100% 98%
Yakamia Yakamia 4.5 57 83% 84%
Sea Scape Erskine 5.0 51 78% 100%
Carey Park Bunbury 4.4 51 100% 94%
Total / Average – WA 29.1 321 92% 92%
Queensland
Marsden Marsden 9.6 96 98% 100%
Jefferis Bundaberg North 4.6 51 94% 90%
Total / Average – QLD 14.2 147 97% 97%
Tasmania
Glenorchy Glenorchy 4.3 42 100% 98%
Elphinwood Launceston 4.1 55 100% 86%
Claremont Claremont 4.3 51 100% 96%
Devonport Devonport 2.2 51 80% 77%
Launceston Launceston 3.3 55 89% 86%
Total / Average – TAS 18.2 254 94% 88%
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Asset Value
30 June 2017 Occupancy Occupancy
Property Location ($m) Total Units 30 June 2017 30 June 2016
New South Wales
Wagga Wagga Wagga 3.9 50 76% 76%
Wheelers Dubbo 5.0 52 98% 98%
Taloumbi Coffs Harbour 5.1 50 100% 100%
Chatsbury Goulburn 4.4 49 100% 100%
Oxley Port Macquarie 4.8 45 100% 100%
Dubbo Dubbo 5.2 54 96% 76%
Taree Taree 3.9 51 86% 82%
Peel River Tamworth 5.3 51 94% 96%
Bathurst Bathurst 4.1 53 89% 93%
Total / Average – NSW 41.7 455 93% 91%
Victoria
Grovedale Grovedale 5.4 51 100% 94%
St Albans Park St Albans Park 5.7 53 96% 93%
Townsend St Albans Park 4.8 50 90% 96%
Sovereign Sebastopol 2.5 51 67% 88%
Hertford Sebastopol 3.8 48 75% 83%
Coburns Brookfield 4.5 51 100% 90%
Horsham Horsham 3.7 47 100% 77%
Brooklyn Brookfield 4.7 51 98% 92%
Warrnambool Warrnambool 3.0 49 92% 86%
Total / Average – VIC 38.1 451 91% 89%
Total / Average 141.3 1,628 92.8% 90.7%
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Note: Capitalisation rates range from 9.5% to 10.9%.
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BATHURST – Bathurst, NSW
Ingenia Gardens Bathurst is located in the regional city of Bathurst, a few hours west of Sydney. The location offers the best of country life combined with modern conveniences and facilities. The Village offers close proximity to retail and recreational facilities and is a short walk to medical services, with public transport approximately 100 metres away.
Acquired January 2014 Title Freehold Site area 7,000 sqm Total units 53 Occupancy 89%
BROOKLYN – Brookfield, VIC
Ingenia Gardens Brooklyn is located in Brookfield, a suburb within Melton, offering a balance of rural-urban lifestyle. There are a range of activities and services in Melton including a Country Club, Bowling Club and Mens Shed. The Village is well located with close proximity to transport, providing access to a range of medical, retail and leisure facilities.
Acquired June 2004 Title Freehold Site area 6,355 sqm Total units 51 Occupancy 98%
CAREY PARK – Bunbury, WA
The port city of Bunbury, home to Ingenia Gardens Carey Park, is one of the largest cities in Western Australia. Bunbury is a thriving cultural centre and the Village offers easy access to a range of recreation facilities, as well as essential services such as medical services and a shopping centre.
Acquired June 2004 Title Freehold Site area 5,690 sqm Total units 51 Occupancy 100%
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CHATSBURY – Goulburn, NSW
Ingenia Gardens Chatsbury is located in Goulburn, a regional city in the southern tablelands of NSW, approximately 100 kilometres north of Canberra. The Village has public transport within an easy walk and is in close proximity to shopping, medical and entertainment facilities.
Acquired June 2004 Title Freehold Site area 6,040 sqm Total units 49 Occupancy 100%
CLAREMONT – Claremont, TAS
Ingenia Gardens Claremont is located in Claremont, part of the greater Hobart area on the Derwent River, and home to four of the major golf clubs in the Hobart region. The Village has easy access to a Chemist and RSL Club with a local shopping centre, bowls club and medical facilities nearby.
Acquired June 2004 Title Freehold Site area 6,830 sqm Total units 51 Occupancy 100%
COBURNS – Brookfield, VIC
Neighbour to nearby Ingenia Gardens Brooklyn, Ingenia Gardens Coburns is located in the suburb of Brookfield in Melton, approximately 35 kilometres west of Melbourne’s CBD. The location provides easy access to Melbourne via rail or car as well as proximity to a range of local services and facilities.
Acquired June 2004 Title Freehold Site area 6,355 sqm Total units 51 Occupancy 100%
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DEVONPORT – Devonport, TAS
Situated in Devonport, in the north of Tasmania, at the mouth of the Mersey River, Ingenia Gardens Devonport is central to local shopping precincts with good access to public transport and a range of recreational facilities.
Ingenia is trialling Ingenia CarePLUS at Ingenia Gardens Devonport over 2017.
DUBBO – Dubbo, NSW
Ingenia Gardens Dubbo is well located in the regional town of Dubbo with public transport only metres away, offering easy access to medical, retail, and recreational facilities. The Village includes a communal library and community centre within well maintained gardens.
ELPHINWOOD – Launceston, TAS
Ingenia Gardens Elphinwood is located in Launceston, one of Tasmania’s oldest and largest cities. With easy access to transport and a range of facilities, including medical services, sporting and recreation clubs and shopping, the Village provides a convenient location for seniors.
Ingenia Gardens Wheelers is located next door.
Acquired June 2004 Title Freehold Site area 6,290 sqm Total units 51 Occupancy 80%
Acquired December 2012 Title Freehold Site area 6,300 sqm Total units 54 Occupancy 96%
Acquired June 2004 Title Freehold Site area 6,330 sqm Total units 55 Occupancy 100%
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GLENORCHY – Glenorchy, TAS
Located in the Northern suburbs of Hobart and nestled beside the Derwent River, Glenorchy is home to many facilities. Ingenia Gardens Glenorchy provides easy access to public transport and is in close proximity to local clubs and medical and retail services.
Acquired June 2005 Title Freehold Site area 4,780 sqm Total units 42 Occupancy 100%
GROVEDALE – Grovedale, VIC
Situated in Grovedale, Geelong, Ingenia Gardens Grovedale offers access to a range of attractions found in the Geelong region ranging from beaches to bush, historic townships to modern retail precincts. A well populated region, Geelong is approximately 75 kilometres from Melbourne located on Corio Bay and the Barwon River.
Acquired June 2005 Title Freehold Site area 6,590 sqm Total units 51 Occupancy 100%
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HERTFORD – Sebastopol, VIC
Ingenia Gardens Hertford is located in Sebastopol, on the urban rural fringe of Ballarat. Sebastopol includes walking trails, botanic gardens and wildlife experiences, providing a range of activities in a scenic location. Public transport is at the gate, allowing convenient access to a range of services, including local bus, shopping and medical services.
Acquired June 2004 Title Freehold Site area 4,790 sqm Total units 48 Occupancy 75%
HORSHAM – Horsham, VIC
Ingenia Gardens Horsham is located in the regional city of Horsham, part of the Wimmera region of Victoria, approximately 300 kilometres north-west of Melbourne. Located close to the Wimmera River and with convenient access to public transport, the Village provides an easy lifestyle with proximity to medical, leisure and retail services.
Acquired June 2004 Title Freehold Site area 4,560 sqm Total units 47 Occupancy 100%
JEFFERIS – Bundaberg, QLD
Located in the thriving regional city of Bundaberg on the Burnett River, Ingenia Gardens Jefferis is located approximately 385 kilometres north of Brisbane, just inland from the coast. Bundaberg proves a warm climate and an abundance of shopping centres, sporting clubs and local attractions. With public transport just outside, the Village is well located with easy access to key services and facilities.
Acquired June 2004 Title Freehold Site area 7,320 sqm Total units 51 Occupancy 94%
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LAUNCESTON – Launceston, TAS
Located only 600 metres from Ingenia Gardens Elphinwood, Ingenia Gardens Launceston is located in the historic Tasmanian city of Launceston. With access to social activities and health services, the Village also has close proximity to transport and a range of services including Post Office, library and shopping centre.
Acquired January 2014 Title Freehold Site area 6,464 sqm Total units 55 Occupancy 89%
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Ingenia CarePLUS
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MARSDEN – Marsden, QLD
Ingenia Gardens Marsden is a large village offering 96 rental units, located in the city of Logan approximately 30 kilometres from the Brisbane CBD. The Village is located close to shopping, health facilities and sporting clubs and is an easy walk to public transport. Facilities include a library, dining room, community laundry and beautiful gardens.
Acquired June 2005 Title Freehold Site area 12,000 sqm Total units 96 Occupancy 98%
OCEAN GROVE – Mandurah, WA
Ingenia Gardens Ocean Grove is situated in the suburb of Erskine, Mandurah, close to Seascape Gardens, which is located within the same suburb. With close proximity to parkland and with a shopping centre less than a kilometre away, Ocean Grove Gardens provides a convenient location with good access to essential health services and a range of leisure facilities.
Acquired February 2013 Title Freehold Site area 7,501 sqm Total units 45 Occupancy 100%
OXLEY – Port Macquarie, NSW
Located on the Mid North Coast of NSW, approximately 400 kilometres north of Sydney and 570 kilometres south of Brisbane, in Port Macquarie, Ingenia Gardens Oxley provides a coastal lifestyle. The Village has easy access to beaches and heritage walking trails as well as retail and medical facilities.
Acquired June 2004 Title Freehold Site area 5,100 sqm Total units 45 Occupancy 100%
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PEEL RIVER – Tamworth, NSW
Ingenia Gardens Peel River is located in Tamworth, the major regional centre for the New England region of NSW, approximately 500 kilometres north of Sydney and 600 kilometres south of Brisbane. With public transport at the gate, the Village provides easy access to a range of facilities within this large regional town.
Acquired March 2013 Title Freehold Site area 6,900 sqm Total units 51 Occupancy 94%
SEASCAPE – Erskine, WA
Ingenia Gardens Seascape is located in the suburb of Erskine, Mandurah. Mandurah is a vibrant regional Western Australian city with access to a beautiful coastline, perfect for fishing or relaxing. With public transport only 20 metres away, the Village provides a convenient location with access to services in close proximity to Ingenia Gardens Ocean Grove.
Acquired June 2004 Title Freehold Site area 6,545 sqm Total units 51 Occupancy 78%
SEVILLE GROVE – Seville Grove, WA
Ingenia Gardens Seville Grove is situated in a quiet cul de sac, just south of Armadale city centre. A growing regional centre, Armadale combines a scenic environment with city conveniences. Public transport is at the door and with only 100 metres to medical facilities and easy access to shopping, post office and the public library, Ingenia Gardens Seville Grove is well located.
Acquired June 2004 Title Freehold Site area 5,275 sqm Total units 45 Occupancy 91%
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SOVEREIGN – Sebastopol, VIC
Situated approximately four kilometres from the town centre, in Sebastopol, Ballarat, Ingenia Gardens Sovereign is a well located Village within scenic surrounds. In addition to providing easy access to a range of services and facilities, the Village is close to Ingenia Gardens Hertford, which is also in Sebastopol.
Acquired June 2013 Title Freehold Site area 6,000 sqm Total units 51 Occupancy 66%
ST ALBANS PARK – St Albans Park, VIC
Ingenia Gardens St Albans Park is an eastern region of Geelong, bounded by the Barwon River, with both access to parkland and the CBD. With close proximity to transport and a range of facilities, including medical, retail and leisure facilities, Ingenia Gardens St Albans Park provides a convenient location within a well populated region.
Acquired June 2004 Title Freehold Site area 8,290 sqm Total units 53 Occupancy 96%
SWAN VIEW – Swan View, WA
Ingenia Gardens Swan View is located in the Perth suburb of Swan View, only minutes from the Perth Hills and John Forrest National Park. Providing rural beauty within walking distance to local shopping, this large Village is conveniently located.
Acquired January 2006 Title Freehold Site area 8,030 sqm Total units 72 Occupancy 100%
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TALOUMBI – Coffs Harbour, NSW
Located on the Mid North Coast of NSW, in the popular holiday destination of Coffs Harbour, Ingenia Gardens Taloumbi is nestled between a high mountain backdrop and beautiful coastlines. The Village’s location provides easy access to retail, medical and recreation facilities. Transport at the door and close proximity to beaches and parklands add to the attraction of the Village’s location.
Acquired June 2004 Title Freehold Site area 6,160 sqm Total units 50 Occupancy 100%
TAREE – Taree, NSW
Located on the Mid North Coast of NSW, on the Manning River, Ingenia Gardens Taree provides a rural lifestyle. The Village sits on over 9,000 sqm of land, surrounded by farmland, but is within walking distance to a bowls club and golf course and has public transport at the front gate, providing easy access to a range of local facilities and services.
Ingenia Gardens Taree is trialling Ingenia CarePLUS in 2017.
Acquired December 2004 Title Freehold Site area 9,390 sqm Total units 51 Occupancy 86%
TOWNSEND – St Albans Park, VIC
Ingenia Gardens Townsend is located in St Albans Park, a suburb of Geelong which is also home to Ingenia Gardens St Albans Park. The Village provides a convenient location with proximity to key facilities and services.
Acquired June 2004 Title Freehold Site area 8,290 sqm Total units 50 Occupancy 90%
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WARRNAMBOOL – Warrnambool, VIC
Ingenia Gardens Warrnambool is situated in Warrnambool, just 12 kilometres from the Western end of Victoria’s Great Ocean Road on the south-western coast of Victoria. The location offers a range of beaches at the city’s doorstep. Golf, shopping, bowls as well as medical facilities and a public library and RSL Club are all available in Warrnambool.
Acquired January 2014 Title Freehold Site area 8,350 sqm Total units 49 Occupancy 92%
WAGGA – Wagga Wagga, NSW
Ingenia Gardens Wagga is located in Wagga Wagga, the largest inland city in NSW. Situated on the Murrumbidgee River, the city is approximately half way between Sydney and Melbourne. The Village is located close to public transport with access to medical, retail and recreation facilities.
Acquired June 2013 Title Freehold Site area 5,900 sqm Total units 50 Occupancy 76%
WHEELERS – Dubbo, NSW
Ingenia Gardens Wheelers is located in the regional town of Dubbo. The Village is located in close proximity to key amenities and facilities, with public transport within metres of the Village. Frequent food and wine shows, art exhibits and markets mean that there is always something for residents to do.
The Village is adjacent to Ingenia Gardens Dubbo.
Acquired June 2004 Title Freehold Site area 6,280 sqm Total units 52 Occupancy 98%
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YAKAMIA – Yakamia, WA
Ingenia Gardens Yakamia is located in Yakamia, an inner suburb of the port city Albany, approximately 400 kilometres south of Perth. Albany is home to a range of natural attractions and is also a popular arts centre. Yakamia Gardens is located within walking distance of shopping and public transport in an area offering a range of leisure activities, including bowling and bridge.
Acquired June 2004 Title Freehold Site area 7,300 sqm Total units 57 Occupancy 83%
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Disclaimer
This presentation was prepared by Ingenia Communities Holdings Limited (ACN 154 444 925) and Ingenia Communities RE Limited (ACN 154 464 990) as responsible entity for Ingenia Communities Fund (ARSN 107 459 576) and Ingenia Communities Management Trust (ARSN 122 928 410) (together Ingenia Communities Group, INA or the Group). Information contained in this presentation is current as at 22 August 2017 unless otherwise stated.
This presentation is provided for information purposes only and has been prepared without taking account of any particular reader’s financial situation, objectives or needs. Nothing contained in this presentation constitutes investment, legal, tax or other advice. Accordingly, readers should, before acting on any information in this presentation, consider its appropriateness, having regard to their objectives, financial situation and needs, and seek the assistance of their financial or other licensed professional adviser before making any investment decision. This presentation does not constitute an offer, invitation, solicitation or recommendation with respect to the subscription for, purchase or sale of any security, nor does it form the basis of any contract or commitment.
Except as required by law, no representation or warranty, express or implied, is made as to the fairness, accuracy or completeness of the information, opinions and conclusions, or as to the reasonableness of any assumption, contained in this presentation. By reading this presentation and to the extent permitted by law, the reader releases each entity in the Group and its affiliates, and any of their respective directors, officers, employees, representatives or advisers from any liability (including, without limitation, in respect of direct, indirect or consequential loss or damage or loss or damage arising by negligence) arising in relation to any reader relying on anything contained in or omitted from this presentation.
The forward looking statements included in this presentation involve subjective judgment and analysis and are subject to significant uncertainties, risks and contingencies, many of which are outside the control of, and are unknown to, the Group. In particular, they speak only as of the date of these materials, they assume the success of the Group’s business strategies, and they are subject to significant regulatory, business, competitive and economic uncertainties and risks. Actual future events may vary materially from forward looking statements and the assumptions on which those statements are based. Given these uncertainties, readers are cautioned not to place undue reliance on such forward looking statements.
The Group, or persons associated with it, may have an interest in the securities mentioned in this presentation, and may earn fees as a result of transactions described in this presentation or transactions in securities in INA.
This document is not an offer to sell or a solicitation of an offer to subscribe or purchase or a recommendation of any securities.