Retirement village provider Ingenia Group announced at the beginning of August the acquisition of an additional property to their community portfolio, Sheldon Caravan Park in Eight Mile Plains, Brisbane. The purchase is expected to be settled fully by the end of this month.

The Sheldon Caravan Park has a geographic advantage, being located so close to the Brisbane CBD, and affords a high level of amenities and convenience with Westfield Garden City and a local supermarket also nearby to the site.

Simon Owen, CEO of Ingenia Communities, said that the recent addition of Sheldon Caravan Park significantly increased Ingenia’s presence in the tightly held Brisbane market through the acquisition of the well-established community.

“Combined with the recent acquisition of Durack Gardens, on completion of this acquisition Ingenia will own four lifestyle communities in Brisbane, giving Ingenia a strong presence in one of our key target markets,” he said.

Mr. Owen also elaborated on the significant development plans Ingenia will implement in the community, with the intention to add another 48 new homes and upgrade older accommodation.