Eureka Group Holdings (ASX:EGH) signed a deal to sell its Mount Gambier rental village in South Australia for AU$5 million, just below the property's book value of AU$5.1 million as of June 30, according to a Friday filing with the Australian bourse.

The sale is part of an asset recycling program, which will see the retirement village operator disposing of AU$25 million to AU$30 million to free capital for new acquisitions, expansions on existing properties, and development of new properties, the filing said.

The company's shares slipped almost 1% in recent Friday trade.

Price (AUD): $0.61, Change: $-0.0050, Percent Change: -0.81%