Eureka Group Holdings Ltd (ASX:EGH) has acquired 36 units in Runaway Bay, Queensland for $2.05 million in a quest to transform the assets into a low cost senior's village.
Couran Cove is a holiday destination about 10 minutes ferry ride from the Gold Coast.
This follows a string of retirement village acquisitions by Eureka in Morphettville, South Australia as well as Townsville, the Gold Coast and Margate in Queensland.
The acquisition takes to 2000 the units under ownership and or management by Eureka and claim as the largest operator of low cost rental retirement villages in Australia.
A total of 170 units are planned to be built and managed by Eureka.
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