Ingenia Communities Sells Corio Retirement Village to Residential Developer For $3.1 Million
INGENIA Communities, formerly controlled by Dutch investment giant ING and from earlier this month, a separate ASX listed company, has sold the Lovely Banks Gardens near Geelong.
The 65-unit village Corio village sold conditional on a rezoning which would allow for a residential redevelopment. A Victorian developer is said to be purchasing the site near Lindsay Fox’s Avalon Airport.
In 2010, Ingenia ruled the “poor performing” asset as “non core” to its portfolio. It will pump funds from the sale into other developments, conversions and acquisition opportunities it is hoped will earn a return-on-investment of some 20 per cent.
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THE Federal Government’s contentious plan to build record amounts of commission flats and social housing around your streets, and without proper community consultation – seems to finally have caught the attention of the wider community.
HAWTHORN Football Club chief executive Stuart Fox, and wife Sybella, are selling the Wirraminna farm they acquired in 2002 in Gherang, via Moriac – some 10 minutes north east of Anglesea, and 15 minutes east of Torquay.
GEELONG identity Frank Costa has entered a joint venture agreement to redevelop 40 hectares of land in Armstrong Creek near Geelong.
WHILE attention in Geelong’s this week has circled the ‘approved-by-stealth’ public-private housing redevelopment of the city’s former TAFE site, another high profile property – given the green light last year to become one of the federal government’s 80,000 social and affordable new dwellings – failed to sell at auction.