Rumours have been spreading around Mudgee about the sale of two local holiday parks owned by the company, Ingenia. One site at Lions Drive and another on Bell Street in Mudgee.
Ingenia Communities confirmed to the Mudgee Guardian the sale of its Lions Drive site to Hampshire Property Group and says its Bell Street site, Mudgee Valley, is still subject to the sales process.
General Manager of Investor Relations for Ingenia, Donna Burne provided the Mudgee Guardian with a statement.
"Ingenia has previously announced a divestment program that includes a number of non-core assets, including the two parks in Mudgee," she said.
"Ingenia has sold the BIG4 Mudgee to Hampshire Property Group, with settlement of the sale anticipated to occur over the next month,"
"As the sales process for Mudgee Valley is ongoing we are not able to comment further at this point."
In an ASX report filed on February 2019, Ingenia listed the Mudgee assets for sale and their 'total asset value' as $2.5 million and $5.4 million for the Bell Street and Lions Drive sites respectively. It's worth noting that among their portfolio, the two Mudgee sites had the lowest value on the list with the next lowest being a Hervey Bay site valued at $4.5 million.
This does not suggest, however, that the sale price was the same as the listed values.
Someone connected to the Bell Street site who wished to remain anonymous says the feeling among some staff about a potential sale is positive.
"Its just a feeling of happiness because the park may actually get some much overdue TLC that it's needed for years." they said.
It has been rumoured by many that Mid-Western Regional Council was interested in buying the Bell Street site, but the Mudgee Guardian was not able to confirm this, however Council did provide a statement.
"Council does not comment on any activities of a "commercial-in-confidence" nature." a spokesperson said.