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Posts Tagged ‘new south wales’

Ingenia Buys Tourist Park, Adding 54 Manufactured Homes

December 16th, 2015 Comments off

australia_south_west_rocks_tourist_park__abc_dot_net_dot_au__credit__ingenia-ownedWord has arrived from New South Wales (NSW), Australia that manufactured home community (MHC) owner Ingenia Communities has acquired South West Rocks Tourist Park in NSW for $8.5 million ($6.03M USD), but only the business and not the land, reports abc.net.au.

As MHProNews posted Oct. 21, 2015, Ingenia acquired Lakeside Lara outside Melbourne, an MHC comprised of 56 occupied MH, 13 that have not been sold and 164 undeveloped sites on 20.5 acres for just under $11.8 million USD.

Ingenia CEO Simon Owens stated over the next 3-5 years they intend to pour $10.65 million (USD) into South West Rocks, updating the tourism stock and adding 54 affordable MH.

Owens said, “Our business model meets two of the key challenges facing Australia today, and that’s an aging population and also a housing affordability crisis,” he said. “That’s where the manufactured home business comes in. Secondly, with an aging population and more people jumping in a caravan and traveling around Australia, opportunities to acquire businesses like South West Rocks are few and far between.

Ingenia’s MH portfolio consists of 22 Active Lifestyle Estates MHCs and 31 Garden Estates, which are rent only, but both are targeted to seniors. Ingenia sold 100 MH last year in its communities, and expects to sell 120 this year. The company also owns a series of other tourist parks. ##

Australia’s Ingenia Acquires Land Lease Community

October 21st, 2015 Comments off

Australia_Lakeside_Lara__smh_au__simon_johanson__creditIngenia Communities in Australia has acquired Lakeside Lara, a manufactured home community (MHC) 38 miles from downtown Melbourne for $16.3 million AUD, just under $11.8 million U. S. dollars, as Ingenia moves away from tourism rentals and into owner-occupied MHCs, according to what smh.au tells MHProNews.

The 8.3 hectares (20.5 acres) site contains 56 occupied manufactured homes, 13 that have not been sold, and 164 undeveloped sites. A $3.5 million ($2.52 million USD) clubhouse that has just been completed should spur sales of the homes. Developing the other sites would yield an additional $2.1 million ($1.5 million USD) annually in fees.

Ingenia has a $425 million ($306.7 million USD) property portfolio divided between its Active Lifestyle Estates (MHCs), with 22 communities, and the Garden Estates, comprised of 31 communities, which offers rent-only homes, both targeted to retirees. These are the units Ingenia intends to turn into sales and thus permanent accommodations.

Ingenia CEO Simon Owen says, “The majority of our sites in NSW (New South Wales) have a significant existing tourism component. We own some of the most iconic tourism parks in NSW and will be keeping the tourism where it represents highest and best use of land.

The company sold 100 homes in its lifestyle villages last year, and intends to sell 120 more homes this financial year. ##

(Photo credit: smh.au/Simon Johanson–Lakeside Lara)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily Business News-MHProNews.

Fleetwood Poised to take Advantage of Opportunities Down Under

August 12th, 2015 Comments off

australian manufactured home community  intenational to  creditFleetwood Corporation Ltd. (ASX:FWD) of Australia produces manufactured and modular homes and buildings for residential, educational and commercial applications, and has a recreational vehicle division as well, according to dailyreckoning.au.

Although the report at the end of 2014 showed revenue had fallen 18 percent due to a weakness in the workforce housing sector for mining, since then Fleetwood has rebounded in the educational area, refurbishing, relocating and storing modular classrooms. Additionally, the revenue drop has also been offset by growth in the offsite residential market.

In May, FWD announced it had entered an agreement to become the exclusive supplier of manufactured homes for Gateway Lifestyle Group’s manufactured home communities (MHC) in Queensland and northern New South Wales.

Fleetwood seems well positioned to take advantage of baby boomers as they downsize and consider relocating into an MHC. In addition, as MHProNews understands, the demand is growing for modular classrooms, which should also improve the bottom line for Fleetwood. ##

(Photo credit: inte-nationalto-manufactured home community in Australia)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily Business News-MHProNews.

Modular Australian Home Ships via Container

November 3rd, 2014 Comments off

aussie modular  achitectureanddesign co  TEKTUM ltdSydney, Australia’s TEKTUM Ltd. has installed a HOUSE 2.0 on the side of a hill previously thought to be undevelopable because of its location. The drop from the front of the house to the rear is 25 feet. The tailor-made modular home was basically folded up and placed in a shipping container and carted to the site in New South Wales. The modular home is built to the second highest Australian bushfire attack level rating (BAL40).

The first HOUSE 2.0 was built in the Queenslander style in July 2012, according to architectureanddesign.com.au, and subsequent efforts went towards improving the living conditions of people with mental disabilities.

The key innovation with HOUSE2.0 is the design mechanism, which allows an entire house to be transported within a standard size, then easily and quickly ‘unfolded’ on site,” says Nicolas Perren, co-founder of TEKTUM. “With all finishes and services completed in the factory, the house is ready for occupation within a few weeks of delivery to site,” as Mr. Perren informed MHProNews. ##

(Photo credit: architectureanddesign.com/TEKTUM Ltd–Australian modular home)

matthew-silver-daily-business-news-mhpronews-com(Submitted by Matthew J. Silver to Daily Business News-MHProNews)

Plans Approved for 100-Site Manufactured Home Community Down Under

June 24th, 2014 Comments off

Updating a post MHProNews last published May 27, 2014 concerning opposition to a 100-homesite manufactured housing community (MHC) in Mayfield, New South Wales, Australia, councilors approved the development by a 7-4 vote at a public hearing, according to newcastlestar.com.au. Councilor Brad Luke, who had chaired the meeting, said the developers had followed all the rules and made changes according to community feedback. Noting government regulation needs to be revised, he said, “It is an archaic set of rules and needs to be updated . . . but it [manufactured housing] is permissible on that land.” Opponents say they may seek legal action to try and stop the project. ##

(Photo credit: newcastlestar.com.au–manufactured home community in Australia)

Solar-powered Modular Home First in Australian Region

June 16th, 2014 Comments off

MHProNews has learned from canberratimes.com.au in Australia that Gundaroo, pop. 300, will be the first town in the Southern Tablelands of New South Wales to receive an off-grid solar-powered modular home. Prominda delivered the home with wiring and hot water units in the walls, plumbing in the floors and insulation in the walls, ceiling and floor in all three modules of the three-bedroom, two-bath home dwelling. Set on a steel foundation, the three units will be welded together; the 16 solar panels on the nearby shed which will power a four-kilowatt system to power the home. Bottled gas will supply heating, cooking and hot water for the $254,000 home. ##

(Photo credit: Elesa Kurtz/canberratimes.com.au–modular home being sited in Gundaroo)

Australian Land Lease Community on the Block

October 4th, 2013 Comments off

A 100 home site manufactured housing community has been listed for sale in New South Wales, on the south east coast of Australia. Residents of Acacia Ponds Village near Mirambula pay $85 a week for site rent, and it is 83 percent occupied, making it a good investment because of the consistent rent returns and room for upside, according to what CBRE’s Andrew Jackson tells propertyobserver.com.au. CBRE recently sold the Oaklands Village Manufactured Home Estate in Wollongong for $13.4 million to Alceon of Australia, which, MHProNews has learned is an advisory capital and investment firm.

(Photo credit: TriStar Estates)

Australian Firm Focusing Exclusively on Manufactured Housing Communities

September 11th, 2013 Comments off

Updating a story we last posted Sept. 4, 2013 about the acquisition of two manufactured housing community (MHCs) properties by Ingenia Communities in Australia, MHProNews has learned the company has raised $61.5 million to fund the acquisition of eight additional MHCs. Although contracts have been exchanged on only the Drifters Holiday Village at Kingscliff on the north coast of New South Wales (NSW), the company will announce the purchase of the remaining seven properties when the deals are finalized. Chief Executive Simon Owen states the company intends to focus solely on MHCs. “We spent two years researching this market before we made our first acquisition,” he said. All eight properties are in NSW, close to urban areas, or in Sydney. “We want to build a dominant footprint in the NSW market before we look to expanding into Queensland and Western Australia,” Mr. Owen said, as reported by theaustralian.com.au.

(Photo credit: thinkstock.com)

Aussie Firm Expands Manufactured Home Reach

September 4th, 2013 Comments off

Ingenia Communities (ASX ticker:INA) of Sydney, Australia has acquired two manufactured home communities in Mudgee, New South Wales, Australia for $11.2 million. The Mudgee Valley Tourist Park had a price tag of $4 million, according to proactiveinvestors.com.au, while the Mudgee Tourist and Van Resort sold for $7.2 million. Ingenia specializes in senior housing communities, owning 44 properties with 3,200 units, including 1,105 manufactured homes. MHProNews has learned Mudgee is in southeast Australia near Sydney.

(Photo credit: Darren–Brisbane, Australia manufactured homes)

Ingenia announces buy of two ‘down under’ MHCs

August 28th, 2013 Comments off

ingenia-communities-logo-posted-daily-business-news-manufactured-housing-professional-news-mhpronews-com-Ingenia (ASX:INA) purchased two immediately earnings-accretive Manufactured Home communities in Mudgee, New South Wales, for $11.2 million. The Mudgee Valley MHC will be acquired for $4 million, which has an 8.8% trailing yield, and unlevered internal rate of return (IRR) exceeding 20%. The second purchase is the Mudgee Tourist and Van Resort acquired for $7.2 million. The later property boasts a trailing yield of 9.3%, and an unlevered IRR exceeding 15%. Mudgee, New South Wales, Australia offers a buoyant local housing market, strong employment growth and a vibrant local economy underpinned by resources and agriculture. The proactiveinvestors also tells MHProNews the median house price in Mudgee is currently $389,000, and has grown at a 9.2% rate over the past five years, making manufactured housing down under an attractive niche investment for Ingenia. ##

(Image credit: Ingenia Communities logo)