Eureka Group plan new rental village in Kingaroy, QLD

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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.