Ingenia Communities (ASX:INA) has announced plans to divest its leasehold Broulee Holiday Park, located on the NSW South Coast.

The park covers a 2.4-hectare plot and contracts for its divestment have already been exchanged.

Additionally, Ingenia has reported a total of 79 home settlements in the first quarter of the current financial year.

The park has been sold at its book value of A$7.1 million.

The company remains optimistic about its holiday business, with forward bookings remaining elevated compared to the same period in 2023 and up 9% through to the end of 2024.

Ingenia has also exchanged contracts to divest a non-core 7.8-hectare block of land in Hervey Bay.

As the residential market conditions slowly improve, the Hervey Bay site has been sold for A$11.5 million.

Ingenia Communities is a property group that owns, operates and develops a growing portfolio of affordable seniors communities across key urban and coastal markets in Australia.