At their AGM last week Ingenia identified that it has achieved the stability in its rental retirement village business it has been targeting since May 2012 when it was the ING Real Estate Living Community Group. They had 26 rental retirement villages then and an average occupancy of 84.9%, with high monthly turnover.
CEO Simon Owen stated that today they have 31 rental retirement villages with an average occupancy of 90.7% and tenure of three years.
A major marketing ‘value add’ has been the introduction of ‘Ingenia Care’, being home care support services now accessed by over 400 Ingenia rental retirement village residents. Many rental residents are transitioning out of hospital with no support mechanisms at home.
In addition they now have 29 land lease communities. They entered this market in February 2013.
It was also confirmed that Nora Barlow has resigned as a director with Ingenia, given her new role as CEO of Estia.