The listed operator has acquired the Durack Gardens lifestyle community, 15km south west of the Brisbane CBD, as part of a $74 million string of acquisitions to boost its 36 communities.

Located on 9.5 hectares, it’s the third Land lease Community (LLC) the operator has settled on since it raised the funds in May and features 113 park-owned homes, 132 Land Lease homes and eight tourism sites.

It’s also close to transport and amenities, including retail and medical facilities.

Ingenia plans to build another 49 homes at the site that will initially be rented out to allow for the community to potentially be reconfigured and redeveloped in the future.

Simon Owen, CEO of Ingenia Communities, said the LLC will add to the operator’s growing portfolio in the tightly held Brisbane market.

“We are excited by the opportunity to grow our presence in the Brisbane market through a large-scale, established community with the opportunity to expand and increase the rental return,” he said.

Picture: An aerial view of the Durack Gardens community.