Ingenia CEO Simon Owen, in Brisbane attending a conference on retirement living, said with an ageing population he sees 30 years of growth ahead. “We have six people working full time on mergers and acquisitions and we’re working on 20 acquisitions across Australia at the moment. Eight of those are in Queensland. We have identified southeast Queensland as our key growth market and they are a mixture of caravan parks (RV communities) with vacant land and greenfield sites.”
Noting the growth in the industry comes from acquiring properties, Owen says the growth has been sudden. “When we first started buying these manufactured home parks or caravan parks I remember having to take a busload of fund managers on a trip and many weren’t actually aware that this was an asset class,” he said. “Over the last two years manufactured home communities and caravan parks have become institutionalised. There are now four companies listed on the ASX in this space.” ##
(Photo credit: Ingenia Communities Group)
