Eureka Group Holdings Limited ( (AU:EGH) ) has shared an announcement.
Eureka Group Holdings Limited has announced the acquisition of Burrum River Caravan Park on Queensland’s Fraser Coast for $5.3 million. This strategic purchase, with an initial yield of 8.6%, aims to convert existing caravan sites into long-term rental units, addressing the region’s housing crisis. The acquisition aligns with Eureka’s strategy to expand its presence in the area, where it already operates five seniors rental living communities at full occupancy. The move is expected to meet the increasing demand for rental accommodation driven by large infrastructure projects in the region.
More about Eureka Group Holdings Limited
Eureka Group Holdings Limited operates in the real estate sector, focusing on providing rental accommodation solutions. The company specializes in seniors rental living communities and aims to address housing needs for singles, couples, retirees, and key workers in regions experiencing housing shortages.
YTD Price Performance: -18.03%
Average Trading Volume: 187,459
Technical Sentiment Signal: Buy
Current Market Cap: A$212.1M
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