Ingenia breaks through sales target and looks to sell retirement villages

Ingenia achieved a record 34 net sales across its portfolio of communities in May, taking the financial year total to 130 sales in 11 months against a target of 120 in 12 months. The growth comes from their land lease communities (the old manufactured home estates) which generated over 100 sales. They commenced their first LLC just two years ago.

Average development profit is $87,000 per home.

CEO Simon Owen has also announced “we are continuing to progress our discussions with the global real estate investment management group in relation to the release of capital from our DMF portfolio”. They have eight DMF villages of the Settlers brand they are looking to sell to concentrate on LLCs.