Commonwealth Bank’s plans to float the holiday park portfolio belonging to the wealthy Ingham family could be placed on the backburner, with suggestions the banks attempts to lock in two cornerstone investors is proving frustrating.
The family, which amassed its fortune through its poultry empire, has embarked on plans for an initial public offering or trade sale for a portfolio of six to eight holiday parks on Australia’s east coast.
The properties are owned by the relatives of the late Jack Ingham, who, with his brother, Bob, expanded the chicken and turkey empire Inghams Enterprises.
Should the IPO of the holiday parks proceed, the company would compete with other groups already invested in the manufactured housing space. These include the listed retirement operator Ingenia and Alceon, a company backed by investment bankers Trevor Loewensohn and Phil Green.