• Acquisition of mixed-use Benalla Tourist Park with 145 revenue generating sites
• Purchase price of $11.7 million with 8.0% ingoing yield and target 5-year IRR of 17.0%
• Immediate development approval to add 21 new rental units, with further upside potential

Eureka Group Holdings Limited (ASX: EGH) has announced the acquisition of Benalla Tourist Park, a mixed-use tourist community located approximately 200km northeast of Melbourne. Benalla Tourist Park comprises 145 revenue generating sites, including 61 land-lease homes, 9 park-owned rentals, 29 tourist cabins, and 46 sites and motel rooms. The purchase price is $11.7 million, with an ingoing yield of 8.0% and a target five-year internal rate of return (IRR) of 17.0%. The site benefits from two existing development approvals, one of which permits Eureka to immediately build 21 new one- and two-bedroom rental units, and a second that Eureka will apply to amend to develop additional rental units (subject to Council approval). Benalla is positioned along the Hume Freeway, one of Victoria's major transport corridors, and has a population of 14,528 people with a strong and diverse economy driven by construction, manufacturing, agriculture, and renewable energy. Eureka already has an active presence in Northeast Victoria with seniors rental villages located in Shepparton and Albury, both within a 75-minute drive of Benalla. Benalla marks the company's ninth acquisition in the past year, and the Group has a further non-binding $100 million of acquisitions currently in due diligence.

Eureka expects to settle the acquisition of Benalla Tourist Park in late November 2025, subject to customary conditions.