EGH.ASX: Acquisition of Frenchview and Paynesville Parks

Acquisition of Frenchview and Paynesville Parks

Stock	Eureka Group Holdings Ltd (EGH.ASX)
Release Time	22 Apr 2026, 10:17 a.m.
Price Sensitive	Yes

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Eureka Acquires Two Rental Communities in Victoria

Key Points

Acquisition of Frenchview Lifestyle Village and Paynesville Holiday Park
Combined total of 199 sites, including 109 land lease homes, 24 park-owned rentals, 19 development-ready sites, and 47 short-term and annual sites
Frenchview acquired for $7.5 million at 7.9% initial yield, Paynesville acquired for $6.6 million at 7.6% initial yield

Full Summary

Eureka Group Holdings Limited (ASX: EGH) has entered into binding agreements to acquire the Paynesville Holiday Park and Frenchview Lifestyle Village, located on the Victorian East Coast. The Frenchview Lifestyle Village is a predominantly land-lease community located in Grantville (VIC), approximately 100 kilometres south-east of Melbourne. The park has 103 sites split as follows - 78 permanent MHE homes (collecting site rents), 19 park-owned rentals, 2 annuals, 2 undeveloped serviced sites (DA approved and ready for installation of new prefab homes), and 2 sites with new homes for sale. Eureka has acquired the asset for $7.5 million, reflecting an initial yield of 7.9% (excluding transaction costs). The Paynesville Holiday Park (VIC) is a mixed-use residential community located approximately 300 kilometres east of Melbourne in the East Gippsland region. The park has 96 sites split as follows - 26 permanent MHE homes, 5 park-owned rentals, 11 short-stay tourist cabins, 20 annuals (collecting site rents), 14 powered sites, 17 undeveloped serviced sites (DA approved and ready for installation of new prefab homes), and 3 sites with new homes for sale. Eureka has acquired the community for $6.6 million, reflecting an initial yield of 7.6% (excluding transaction costs). These acquisitions are consistent with Eureka's strategy of expanding its all-age rental portfolio in regional locations supported by favourable demographic and housing market fundamentals. Following completion, Eureka will have completed eleven all-age rental village acquisitions in the past 15 months.

Outlook

Eureka continues to progress approximately $90 million of acquisition opportunities currently under due diligence or advanced price discovery.