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March 2017


Cairns Coconut Holiday Resort

Cairns Coconut Holiday Resort

Acquisition seeds new cluster

Ingenia snaps up new flagship in $50m deal

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INGENIA Communities Group has bought Cairns Coconut Holiday Resort ‒ Australia's highest rated and awarded tourism park ‒ for $50 million in an off-market deal.

Ingenia chief executive Simon Owen commented: "This is an exceptional mixed-use asset with an emphasis on the strongly performing tourism market which will become a flagship asset for Ingenia's Holidays brand."

It had "significant fully approved opportunities" for further growth, he added.

The move seeds a new North Queensland cluster, with further acquisitions being assessed.

"As the group rapidly accelerates its permanent home development activities, the strong recurrent cashflows generated from Cairns Coconut will assist balance earnings composition," Mr Owen said.

Cairns Coconut provides a range of facilities including three swimming pools, water park, two jumping pillows, mini golf, camp kitchen, gym, outdoor cinema and tennis court.

The 11 hectare park consists of 35 long-term residential homes, 118 cabins and 207 sites.

There is the opportunity to add a further 34 tourist cabins with development approval in place.

"Cairns is one of the most visited tourism markets in Australia, generating a high level of tourism visitation that underpins existing cash flows and is generated from a diverse tourist base," Mr Owen said.

"This acquisition introduces an international tourist to the portfolio and provides a stable cashflow with consistent high occupancy throughout the year."

Northern Queensland also offers attractive demographics for seniors living with an ageing population which is forecast to grow significantly over the next 20 years.

The Queensland Government plans to spend over $30 million to promote tourism over the next four years.

Major infrastructure projects underway and planned in Cairns include the redevelopment of the international airport and hospital.


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the prior written permission of Dennis Amor.

Copyright 2005 Dennis Amor
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