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Eureka Group Holdings Limited (ASX:EGH)

ALERT: Price-sensitive ASX Announcement for EGH
Current share price for EGH : $0.640 -0.06 (-8.57%)+
Announcement
Release
20 Aug 2026 9:22AM
Price at Release
$0.700
Full Release
download
Summary
Eureka Group Holdings Limited has announced the acquisition of Sunset Beach Holiday Park located in Geraldton, Western Australia, for $16.8 million. The park, which includes 245 sites with various accommodations such as holiday cabins and motel rooms, is expected to be an earnings accretive addition to Eureka's portfolio. With a five-year strategy, Eureka plans to develop and sell 58 new land lease homes, enhancing the number of permanent Manufactured Home Estate (MHE) sites from 43 to 104. The project is forecasted to deliver a 17.1% unlevered internal rate of return over five years. The acquisition aligns with Eureka's strategy of expanding in regional areas with strong housing demand and demographic fundamentals. The settlement is anticipated by the end of September 2026, and the park is held under a 35-year Crown Lease.
Key Points
  • Acquisition of Sunset Beach Holiday Park in Geraldton.
  • Park includes 245 sites with various accommodations and amenities.
  • Purchase price set at $16.8 million with a 10.0% yield.
  • Five-year strategy to develop and sell 58 new land lease homes.
  • Expected increase in permanent MHE sites from 43 to 104.
  • Target five-year unlevered IRR of 17.1%.
  • Geraldton's rental market has a 1.1% vacancy rate.
  • Settlement expected by the end of September 2026.
  • The park is under a 35-year Crown Lease.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.