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☆ Ingenia 3 May 2021 Ingenia to acquire portfolio of five coastal holiday parks and lifestyle development site ASX / MEDIA RELEASE Acquisition highlights Purchase of large ocean - front land parcel in Bargara , QLD with approval for a 344 - home lifestyle community - 100 % Ingenia development site ● Acquisition of portfolio of five established coastal holiday parks , expanding presence in key markets , including Victoria Combined purchase price of circa $ 40 million , offering a combination of immediate earnings accretion and DA approved development Portfolio of five holiday parks adds 844 cabins , sites and annuals , increasing holiday park portfolio by over 20 % Ingenia Communities Group ( ASX : INA ) today announced further expansion of the Group's lifestyle and holidays business with the acquisition of a 16.2 - hectare greenfield site and a portfolio of established holiday parks . The acquisitions deliver on the Group's growth strategy , bringing total acquisitions announced year to date to more than $ 220 million . Ingenia Communities Group CEO , Simon Owen , said that it had been a busy period for the Group's acquisition team as they sought to deploy equity from the May 2020 raising into acquisitions aligned with the Group's strategy to materially grow the lifestyle and holidays business . " Despite a marked increase in competition for quality communities and development sites , we continue to benefit from a pipeline and relationships that have taken many years to establish . The current buoyant market for domestic travel and greater awareness of the stable cash flows generated from our lifestyle communities have underlined the attractiveness of the sectors we operate in and we remain positive about the outlook for the Group as we continue to grow , " Mr Owen said . Acquisition of greenfield site in QLD Ingenia has entered into an unconditional contract to acquire a 16.2 - hectare parcel of ocean - front land in Bargara , Queensland . The site has approval for the development of a 344 - home lifestyle community with expansive facilities . The site enjoys an attractive ocean front location within a popular tourist town which has benefitted from substantial investment in recent years and is well serviced by amenities . Bargara is approximately 20 minutes ' drive from Bundaberg and one and a half hours from the Group's highly successful Hervey Bay development . The community is expected to attract local buyers and to draw buyers from outside the area due to the attractive coastal location and current migration patterns . Level 3 , 88 Cumberland Street The Rocks NSW 2000 , Australia P 1300 132 946 E investor@ingeniacommunities.com.au ingeniacommunities.com.au