The former CEO of property developer Aqualand Australia, who took over from Simon Owen in April, said the owner/operator of land lease, rental and holiday parks, is to continue to pivot from being an asset aggregator to an asset developer and operator, through building its development pipeline.
In its 2024 annual report, Ingenia Communities stated it has a pipeline of 5,311 development sites (it had a pipeline of 6541 sites in February 2023).
“We are well placed with a strong position in the land lease market, an established asset base, and a large pipeline for growth. Unlocking the value inherent in our land bank is key to driving value creation and supports our growth ambitions in the land lease space as we extend our exposure to the highly attractive annuity style rental streams these communities provide,” he said at the AGM on Thursday, 14 November.
“We also have opportunities to better leverage our assets and platforms to improve returns via strategic partnerships to release capital from lower growth assets as and when needed to fund growth. We have a developed a 1-, 3- and 5-year plan to guide our actions as we transition toward a more efficient operating model and the delivery of improved returns through execution in development and growth in scale.”
He has set a longer-term target of 1,600 – 2,000 settlements for the three years to the end of FY26.
At the end of last month:
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Ingenia Gardens (seniors rentals) - average occupancy 97%, all-age rentals - average occupancy 99% with extra 30 homes planned this year;
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Ingenia Lifestyle: Sale of 183 land lease homes, an increase of 66% on the same period last year, with a further 446 deposits and contracts on hand to support future settlements; 13 projects in market across New South Wales, Victoria and Queensland.
Check out Ingenia Lifestyle resorts and their availability on the #1 website villages.com.au
