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Eureka Group Holdings to Acquire Western Australia Holiday Park for Nearly AU$17 Million

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Eureka Group Holdings (ASX:EGH) executed a contract to acquire Sunset Beach Holiday Park in Geraldton, Western Australia for a purchase price of AU$16.8 million, according to a Thursday Australian bourse filing.

Sunset Beach comprises a 245-site holiday park and lifestyle village, including 43 occupied land lease homes, seven periodic rental sites, three completed homes available for sale, 58 development sites, 25 tourist cabins, 20 motel rooms, and 89 powered sites.

Settlement is expected by the end of September, per the filing.

The company plans to develop and sell 58 new land lease homes across the Lifestyle Village, and to sell the three completed homes held for sale.

The park is held under a 35-year Crown Lease commencing June 1, 2024, and expiring May 31, 2059, with around 33 years remaining.

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