Eureka Group Expands Rental Portfolio with $7.5 million Emerald Acquisition

Eureka Group Holdings Limited (ASX: EGH) has announced its sixth acquisition since its recent capital raise, securing Emerald Tourist Park in Central Queensland for $7.5 million. At the time of writing, the park comprises 106 sites across 3.09 hectares, with existing development approval for an additional 55 rental units and 24 motel rooms. Located in Emerald—a town driven by mining, agriculture, and renewable energy—this acquisition aligns with Eureka’s strategy to grow its presence in affordable, all-age rental communities. The park generates an initial yield of 8.5%, with a projected five-year IRR of 19.0%. Eureka intends to amend the development approval to better suit long-term rental housing needs. This acquisition complements its established footprint in Central Queensland, where the company already operates seven communities across a 380 km stretch, and addresses the region's growing rental housing shortage.

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