Eureka Group has entered into a conditional contract to buy a 2.09ha greenfield development site for the proposed development of an independent living seniors’ rental village in the rural town of Kingaroy, 201km north-west of Brisbane CBD.
The deal, announced to the Australian Stock Exchange, is subject to South Burnett Regional Council’s approval of a Development Application for 110 one-bedroom independent seniors’ living units.
“This region has a growing retiree population with a high social need for quality, affordable, seniors’ rental accommodation,” said the Southport, Gold Coast business.
The purchase price of the land is $735,000.
Eureka Group owns 32 seniors’ rental villages across five States, managing eight of them.