Thomson Geer has advised leading Australian property group, Ingenia Communities Limited on its $50 million acquisition of the Cairns Coconut Holiday Resort. The Thomson Geer team was led by Partner, Lucinda Smith. She was supported by Partner Chris O’Shea and Lawyer, Arjunan Puveendran.
The Cairns Coconut Holiday Resort is renowned as one of the top tourism parks in Australia, and was recently ranked number 8 in Trip Advisor’s 2017 Travellers’ Choice Awards amongst the “Top 25 Hotels in Australia”. It has received a swag of tourism awards over the past 5 years.
The 11 hectare Resort consists of 325 tourism sites and 35 long term residential homes, with development approval already granted to add a further 34 tourist cabins to its portfolio.
Simon Owen, CEO of Ingenia Communities, said “this will become a flagship asset for Ingenia’s Holidays brand and has significant, fully approved opportunities for further growth”.
Further, the addition of this park to Ingenia’s portfolio provides them with a good launching pad to identify further opportunities within the Northern Queensland region.
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