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EUREKA GROUP HOLDINGS LIMITED — Capital/Financing Update 2021
Dec 12, 2021
64828_rns_2021-12-12_105610cf-cf56-4156-a610-4f4af1934367.pdf
Capital/Financing Update
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Eureka Group Holdings Limited | ABN 15 097 241 159 P 07 5568 0205 F 07 5302 6605 E [email protected] www.eurekagroupholdings.com.au PO BOX 10819, SOUTHPORT BC QLD 4215 Suite 2D, Level 2, 7 Short Street, Southport Q 4215
ASX Announcement
13 December 2021
Unconditional contracts to dispose two properties in Townsville, Queensland
Eureka Group Holdings Limited (ASX: EGH) (Eureka) is pleased to announce it has entered into unconditional interdependent contracts to sell two (2) properties in Townsville, Queensland.
An Expression of Interest (EOI) campaign was conducted on Primrose Street, Belgian Gardens comprising 20 rental units over two levels and Nelson Street, South Townsville comprising 12 rental units over two levels.
The purchaser is Sydney-based Jacana Developments Pty Ltd whose director, Gerry Duane, has over 18 years’ experience in the management of aged care services. Total consideration for the disposals is $3.0 million (excluding selling costs). The proceeds will be used to pay down debt and fund further acquisitions. Settlement is scheduled for 31 March 2022.
The apartment style complexes are non-core assets, and the disposal is consistent with Eureka’s strategy to recycle capital to invest the proceeds into growing its core independent rental retirement living portfolio.
This announcement was approved and authorised for release by Eureka’s Board of Directors.
For further information , contact Murray Boyte, Executive Chairman on 07 5568 0205.
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