Eureka Group Expands with Tuggerah Shores Acquisition

An announcement from Eureka Group Holdings Limited ( (AU:EGH) ) is now available.

Eureka Group Holdings Limited has announced the acquisition of Tuggerah Shores Home Village, a residential park on the New South Wales Central Coast, for $8.25 million. This acquisition, which offers an initial yield of 8.6%, marks Eureka’s second venture into the all-age rental market. The village, which maintains full occupancy and a waiting list, aligns with Eureka’s strategy to tap into the high-demand affordable rental market. The purchase is part of a broader expansion funded by a recent $70.4 million capital raise, with settlement expected by the end of March 2025.

More about Eureka Group Holdings Limited

Eureka Group Holdings Limited operates in the real estate industry, focusing on the acquisition and management of rental villages. The company provides affordable rental accommodations, targeting both permanent and long-term residents, with a strong market presence in high-demand regions across Australia.

YTD Price Performance: -9.84%

Average Trading Volume: 225,428

Technical Sentiment Consensus Rating: Sell

Current Market Cap: A$233.3M

For detailed information about EGH stock, go to TipRanks’ Stock Analysis page.