Ingenia Communities Group has made further progress on the Group’s attractive NSW-based development pipeline with approval received for developments at Blueys Beach and Anna Bay, both on the NSW Mid-North Coast. Combined, the sites will provide a further 300 homes, extending the Group’s presence in New South Wales.
Latitude One expansion
Land adjacent to the Group’s first greenfield project, Latitude One, at Anna Bay in the Port Stephens region was acquired in 2017. The 12 hectare land parcel has now received approval for the creation of 171 homes. The expansion of the site will provide additional complementary facilities and, combined with the existing community, create a community of 440 homes. The land was originally acquired for $1.25 million.
The development will build Ingenia’s operating footprint in an established cluster. In addition to Latitude One, Ingenia has a range of holiday park and residential investments in the region, including Ingenia Holidays One Mile, Ingenia Holidays Middle Rock, Ingenia Rental Anna Bay and Ingenia Holidays Soldiers Point. Current active developments in the region include Natura (Bobs Farm) and Element (Fullerton Cover).
At Blueys Beach the Group has now received approval of its Stage 2 Development Application which forms the final approval required to implement the Group’s masterplan for the site. The development will see 133 long term homes and new community facilities added to the site, which already has 22 land lease homes in place. The site is located in an attractive region with close proximity to local shops and beaches. The Blueys Beach site was originally acquired in 2017 as a mixed use community.
The approvals are consistent with the Group’s ongoing focus on continuing to extend and expand the development pipeline to secure growth in the rental base over the medium term.