Eureka Group Holdings Acquires Western Australia Freehold Site for AU$22.5 Million
MT Newswires Live
Oct 27
Eureka Group Holdings (ASX:EGH) acquired 9.1-hectare Hillside Garden Village in Perth, Western Australia, for AU$22.5 million in October, according to a Monday Australian bourse filing.
On acquisition, the site comprised 200 sites, including 145 land-lease homes, 46 resident-owned caravan homes, six short-term caravan sites, and three motel rooms.
Eureka's all-age rental yield is currently at 8.91%, with over 60% of residents on pension and rent assistance. It is seeking opportunities with ingoing yields greater than 8% and with repositioning and expansion upside.
The firm closed eight acquisitions worth around AU$70 million over the past 12 months, with a further around AU$100 million under assessment.
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