Eureka finalises purchase of three Oxford Crest rental villages in SE QLD

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The villages, which are situated in Beachmere, Brisbane; Bundamba (pictured), Ipswich; and Toowoomba, 125km west of Brisbane’s CBD, have a total of 145 homes. Eureka bought outright four of the 42 units in Bundamba.  

The operator, which has 32 home sites and eight under management, announced in November last year it had entered into conditional contracts to acquire the management and letting rights for six villages.

Eureka said that it expects to finalise buying the management and letting rights to a further 188 units in three other villages owned by Oxford Crest next month.

The operator has also completed the disposal of two properties in Townsville, in Queensland’s Far North, comprising 32 units for $2 million gross. The sale proceeds have been used to settle the Oxford Crest deal.

Following these transactions, the total number of units under Eureka management will be 2,562, up from 2,261 at 31 December 2021.