Ingenia Communities Group (ASX:INA) acquisition of a NSW caravan park

Ingenia Communities Group (ASX:INA) today announced the acquisition of Merry Beach Caravan Park for $20.5 million.

The caravan park is a large, established holiday park on the NSW South Coast.

Accommodation includes over 540 income producing sites, with annuals providing approximately two thirds of revenue.

Facilities include a swimming pool, playground and walking tracks, with direct beach access.

The Park is approximately three and half hours south of Sydney.

Shares in Ingenia Communities Group (ASX:INA) are trading 0.83 per cent higher to $4.88.
 
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Source: Finance News Network